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Verkkokauppa: ECB rate cut did not bring consumers back - SEB

Q2/24 was pre-announced earlier in the week. Verkkokauppa.com also cut FY/24 guidance and now expects FY/24 adj. EBIT to fall short of 2023. The guidance assumes that consumer sentiment remains subdued in H2. We believe Verkkokauppa.com has the best earnings delta once consumer sentiment recovers; the recovery is just pushed out in time.

Q2/24 was pre-announced earlier in the week. Verkkokauppa.com also cut FY/24 guidance and now expects FY/24 adj. EBIT to fall short of 2023. The guidance assumes that consumer sentiment remains subdued in H2. We believe Verkkokauppa.com has the best earnings delta once consumer sentiment recovers; the recovery is just pushed out in time.
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