Verkkokauppa: Still waiting - SEB
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Verkkokauppa: Still waiting - SEB

Verkkokauppa.com has reported declining sales for 13 quarters in a row and we expect Q1 to be no exception. The typical lifetime of a smart phone is two to three years and a laptop three to five years. Thus, the time is approaching when many such products are due to be renewed following hoarding during the pandemic. We lift our estimates by ~10%, mainly on a higher gross margin. Our fair value range rises to EUR 1.8-2.1 (1.4-1.8).

Verkkokauppa.com has reported declining sales for 13 quarters in a row and we expect Q1 to be no exception. The typical lifetime of a smart phone is two to three years and a laptop three to five years. Thus, the time is approaching when many such products are due to be renewed following hoarding during the pandemic. We lift our estimates by ~10%, mainly on a higher gross margin. Our fair value range rises to EUR 1.8-2.1 (1.4-1.8).
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