Brief: Verkkokauppa.com Q1 Operating Profit Falls To EUR 0.7 MLN

Verkkokauppa.com Oyj

28/04/2022 14:33

April 28 (Reuters) - Verkkokauppa.com Oyj  VERK.HE :
    * Q1 COMPARABLE OPERATING PROFIT 900,000 EUR
    * Q1 NET PROFIT 200,000 EUR
    * Q1 EARNINGS PER SHARE 0.00 EUR
    * Q1 REVENUE EUR 124.8 MILLION VERSUS EUR 134 MILLION YEAR
AGO
    * Q1 OPERATING PROFIT EUR 0.7 MILLION VERSUS EUR 5.2 MILLION
YEAR
AGO
    * AGM DECIDED TO PAY DIVIDEND OF 0.060 PER SHARE, WITH A
PAYMENT
DATE OF 4 APRIL 2022. IN ADDITION, AGM AUTHORIZED BOARD OF
DIRECTORS TO DECIDE AT ITS DISCRETION DISTRIBUTION OF EUR 0.061
PER SHARE BE PAID AS FIRST QUARTERLY INSTALLMENT, AND PAYMENT
DATE TO BE 9 MAY 2022
    * WE TOOK DECISION TO CLOSE EXPORT BUSINESS TO RUSSIA. AT
SAME
TIME, CONSUMER UNCERTAINTY WAS REFLECTED IN INCREASINGLY SOFTER
DEMAND. AS ECONOMIC GROWTH SLOWS, INFLATION INTENSIFIES AND COST
LEVELS RISE, CONSUMER CONFIDENCE HAS CONTINUED TO WEAKEN SHARPLY
IN MARCH
    * Q1 CHALLENGING MARKET LED TO A TIGHTENING OF COMPETITIVE
SITUATION AND PRICING, WHICH CORRESPONDINGLY REDUCED SALES
MARGIN
    * Q1 TOGETHER WITH DECLINING SALES, THIS TREND WEAKENED
RESULTS
(EBIT), WHICH WAS EUR 0.7 MILLION IN Q1 OF YEAR.
    * OUTLOOK: SHORTAGE OF COMPONENTS AND PRODUCT AVAILABILITY
CHALLENGES ARE EXPECTED TO CONTINUE

Source text for Eikon:  ID:nGNE2ZDb2C 
Further company coverage:  VERK.HE 

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