Verkkokauppa.com sales grew by 2.1% y/y, missing the consensus expectation of 4.7% y/y. Sales declined by 1% y/y in Finland but grew by 40% in the EU, with international revenue up 41% y/y and revenue in Sweden doubling. Verkkokauppa.com highlights that B2B delivered another quarter of double-digit growth (+16% y/y), while consumer sales declined 3% on a strong comparison period, intense competition and cautious households. Adj. EBIT of EUR 4.7m vs. SEBe of EUR 4.3m and Modular Finance consensus of EUR 4.4m. CEO talking about underlying gross margin expansion and preparations for the peak season having progressed as planned.
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