Aktuellt
SENASTE
Sales fell 2% y/y in Q1. Despite slightly improving consumer confidence, Verkkokauppa does not expect the consumption environment to improve because it believes wage increases are not matching inflation and that purchasing power will wane. The profit growth is mainly driven by a self-help story which should become visible in profits from Q2. We keep our fair value trading range of EUR 2.8-3.3, translating to 2024E EV/EBIT 8.2-9.7x.
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