Verkkokauppa com Oyj : Q3/2021 result presentation for investors, arranged by Nordea. CEO Panu Porkka, 25 October 2021
October 25, 2021 at 08:54 am EDT
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Verkkokauppa.com Oyj
January - September 2021 Interim Report
Strong growth in online and corporate sales
Investor presentation, arranged by Nordea
25 October 2021 | Panu Porkka, CEO | Mikko Forsell, CFO | Verkkokauppa.com Oyj
January-September 2021 results
Business review
Development in Q3 and January - September 2021
Key financials
Strategic overview
Strategic cornerstones
Trust, assortment & experience - our value proposition
Business outlook for 2021 and financial targets
Key takeaways
2
Solid 3rd quarter
Sales
On-linesales continued to grow, +18.7% y-on-y
Robust B2B sales with increase of +22.0%
Good performance in core categories, such as TV and computers
Also growth in several evolving categories like gaming, sports, toys and home & lighting
Export sales turned back to growth path and increased by +4.5%
Our sales in GfK reported categories grew by 13.4%, while market grew
by 3.7% (GFK data per July-Sep 2021)
Profitability
Tight competitive environment along with sales mix in favor of lower margin categories having an impact on gross margin
Operating profit declined by EUR 0.9 million totaling EUR 4.7 million (5.6)
Verkkokauppa.com's Board of Directors has decided today to pay fourth dividend instalment of 0.059 euros per share on 2 November
3
GfK is an independent intelligence platform and consulting service for the consumer products industry (www.gfk.com).
In Q3/2021, on-line sales1) grew by +18.7%
Market share gains in a competitive market
EUR million
Revenue
+9.1%
200
176
150
134
131
141
125
123
129
100
50
0
Q1
Q2
Q3
Q4
2020
2021
Robust growth in B2B sales
EUR million
B2B sales
+22.0%
28.5
30.8
30.0
27.9
27.5
25.5
20.2
22.6
20.0
10.0
-
Q1
Q2
Q3
Q4
4
22.10.2021
2020
2021
Online shift continues
EUR million
Online sales
120.0
+18.7%
106.4
100.0
81.5
80.3
77.9
80.0
67.7
68.6
60.4
60.0
40.0
20.0
-
Q1
Q2
Q3
Q4
2020
2021
Fixed cost2) to revenue ratio, targeting <10% by 2025
Fixed costs
11.6%
11.5%
12.6% 12.6%
12.0 %
11.0% 10.8%
11.0%
Target <10%
%
%
%
Q1
Q2
Q3
Q4
Without Export
Excluding advisory costs related to listing
Q3/2021: Robust revenue growth
EUR million
7-9/
7-9/
Change, %
1-9/
1-9/
Change, %
FY 2020
2021
2020
2021
2020
Revenue
141.0
129.3
9.1%
405.6
377.6
7.4%
553.6
Gross profit
20.9
20.9
-0.3%
65.0
61.8
5.3%
88.4
Gross margin, %
14.8%
16.2%
16.0%
16.4%
16.0%
Personnel expenses
-8.5
-8.1
4.5%
-26.9
-25.1
7.0%
-35.6
Other operating expenses
-6.8
-6.1
10.5%
-20.2
-19.9
1.5%
-28.8
Operating profit
4.7
5.6
-17.0%
15.0
13.4
11.8%
19.6
Operating margin, %
3.3%
4.3%
3.7%
3.5%
3.5%
Comparable operating profit
4.7
5.6
-17.0%
15.0
14.2
5.5%
20.4
Comparable operating
3.3%
4.3%
3.7%
3.8%
3.7%
margin, %
5
Net profit
3.5
4.2
-17.9%
11.1
10.0
11.5%
14.6
33rd consecutive growth quarter
Robust revenue growth of 9.1%
Gross margin decreased due to market environment
Quarterly growing dividend of EUR 0.059 per share
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Verkkokauppa.com Oyj published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 12:53:01 UTC.
Verkkokauppa.com Oyj is a Finland-based company, which operates as a consumer electronics retailer. The Company sells such products as computer technology, consumer electronics, toys, games and navigation products in Helsinki, Oulu and Pirkkalan shops. The products can be ordered via the Web mail home or in the Company's stores. Consumers can also make an order / booking product if the item is not immediately found in the store.