Verkkokauppa.com boosted by B2B-sales

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Finland’s online leader, Verkkokauppa.com, reports sales growth by 32% in second quarter – and a gross profit growth at +21%.

B2B-sales boosted the second quarter.

In January-June, Verkkokauppa.com Oyj’s revenue grew by 26.1% year on year.

”The changing consumer behavior is transforming the retail market. Hypermarkets and department stores in Finland are discontinuing sales of consumer electronics as sales are moving to focused competitors that offer lower prices and wider assortment. This trend will have a positive effect on the company,” comments CEO Samuli Seppälä.

The management estimates that the company has continued to increase its market share in most of its categories and has strengthened its position as Finland’s most visited online store.

Good sales in second quarter were further boosted by exceptionally good wholesale trade and B2B sales. These sales typically have lower margins, and this had an impact on the second quarter gross margin as well, now being 14.3%.

The company believes Verkkokauppa.com’s revenue will continue to grow during 2015 and in the medium term, even though the general situation and demand in the retail business will remain weak.

KEY RATIOS

4-6/2015

4-6/2014

Change%

1-6/2015

1-6/2014

Change%

Revenue, € thousands

80,009

60,620

32%

152,865

121,178

26%

Gross profit, € thousands

11,428

9,420

21%

23,175

19,511

19%

Gross margin, % of revenue

14.3%

15.5%

15.2%

16.1%

EBITDA excluding non-recurring items, € thousands

1,749

1,219

43%

3,894

3,555

10%

EBITDA excluding non-recurring items, %

2.2%

2.0%

2.5%

2.9%

Operating profit excluding non-recurring items, € thousands

1,454

982

48%

3,336

3,092

8%

Operating margin excluding non-recurring items, % of revenue

1.8%

1.6%

2.2%

2.6%

Net profit excluding non-recurring items, € thousands

1,482

864

72%

2,717

2,479

10%