Verkkokauppa.com Oyj

Verkkokauppa.com Oyj has transferred 17,928 treasury shares to certain Board members as part of their annual fees, following a decision by the Annual General Meeting on April 4, 2024. The remuneration for Samuli Seppälä was fully paid in cash. Generally, 50% of Board fees are paid in company shares, either purchased from the market or using treasury shares. After this transfer, the company retains 86,345 treasury shares. Verkkokauppa.com is a Finnish retailer specializing in consumer electronics and home products, operating both online and through physical stores. In 2023, the company reported a revenue of EUR 503 million and employs around 600 people. It is listed on the Nasdaq Helsinki Stock Exchange.

Verkkokauppa.com released its Interim Report for January to September 2024, highlighting a challenging operating environment that impacted profitability. The company's revenue decreased by 3% in the third quarter, with a gross margin decline due to intense competition and low-margin sales, particularly electric bikes. The comparable operating result was negative, with a loss of EUR 0.7 million. Despite these challenges, the company strengthened its market share and cash position. The report also noted an increase in express deliveries and own brand product sales. Verkkokauppa.com updated its financial guidance, expecting lower revenue and operating results for 2024 compared to 2023. The company underwent organizational restructuring, resulting in personnel reductions to improve cost efficiency. A customer survey indicated high interest in sustainable electronics, and the company launched a buyback service for used electronics. Legal and financial updates included an ongoing appeal against a data protection fine and renewed financing arrangements. The Annual General Meeting approved various corporate decisions, including no dividend distribution to improve equity ratio.

Verkkokauppa.com Oyj has announced its schedule for financial reporting and the Annual General Meeting (AGM) in 2025. The AGM is planned for April 8, 2025, as a virtual-only event. Shareholders can request to include matters on the AGM agenda by submitting written requests by January 24, 2025. The company enforces a 21-day silent period before releasing year-end financial statements, half-year reports, and interim reports. Financial information will be available on their investor website after release. Verkkokauppa.com, a leading Finnish retailer of consumer electronics and home products, was founded in 1992, reported a revenue of EUR 503 million in 2023, and employs around 600 people. It is listed on the Nasdaq Helsinki Stock Exchange. For further information, contact Marja Mäkinen, Head of Investor Relations and Corporate Communications.

Verkkokauppa.com has completed change negotiations aimed at renewing its organizational structure to enhance operational efficiency and support profitable growth. Initiated on September 4, 2024, these negotiations involved approximately 220 employees, with initial estimates suggesting up to 45 job terminations. The outcome was a reduction of 33 employees, alongside 7 additional positions that ended during the negotiation period and will not be refilled. The company is providing a change security package, including career coaching and employment services, to those affected. The personnel reductions are expected to save EUR 2.5 million annually, with full savings anticipated by 2025. The associated costs of EUR 0.9 million will largely be recorded in the fourth quarter of 2024. Verkkokauppa.com, a Finnish retailer of consumer electronics and home products, was founded in 1992 and serves around 80 million online visitors annually. It is listed on the Nasdaq Helsinki Stock Exchange.

Verkkokauppa.com Oyj announced it will release its January-September 2024 Interim Report on October 24, 2024, at 8:00 a.m. Finnish time. CEO Panu Porkka will present the results in Finnish via a live webcast at 10:00 a.m. and in English at 11:00 a.m. on the same day. Both presentations can be viewed live online, and questions can be submitted beforehand or during the event. Presentation materials and a recording will be available on the company's investor website. Verkkokauppa.com, founded in 1992, is an e-commerce company known for fast deliveries and competitive prices, with a 2023 revenue of EUR 503 million and approximately 700 employees. It is listed on the Nasdaq Helsinki stock exchange. For further details, contact Marja Mäkinen, Head of Investor Relations and Corporate Communications.

Verkkokauppa.com is planning to restructure its organization to enhance operational efficiency and support profitable growth. The restructuring aims to improve resource allocation for strategic projects, purchasing, and assortment management, and to better leverage technology. CEO Panu Porkka stated that the changes are intended to strengthen the company's competitiveness. Change negotiations will begin on 4 September 2024, affecting approximately 220 employees, and may result in up to 45 job terminations. The company aims to save around EUR 2.5 million annually in personnel costs by 2025, with a one-off cost of about EUR 1 million expected in 2024. Verkkokauppa.com, an e-commerce pioneer, reported a revenue of EUR 503 million in 2023 and employs around 700 people. It is listed on the Nasdaq Helsinki stock exchange.

Verkkokauppa.com Oyj announced the composition of its Shareholders’ Nomination Board on 13 August 2024. The Nomination Board, which prepares proposals on the number, election, and remuneration of Board members for the General Meeting, appointed Erkka Kohonen as its Chair. The Board consists of four members, including three representatives from the largest shareholders and the Chairperson of the Board as an expert member. The Nomination Board submits its proposals by the last business day of February each year. Verkkokauppa.com, an e-commerce company founded in 1992, reported a revenue of EUR 503 million in 2023 and employs around 700 people. It is listed on the Nasdaq Helsinki stock exchange. For more information, contact Erkka Kohonen, Arja Talma, or Marja Mäkinen.

Verkkokauppa.com Oyj issued a correction regarding the number of its treasury shares after a transfer for Board of Directors' remuneration. The previous release incorrectly stated the number of own shares held by the company after the transfer. The correct number is 104,273. On 22 July 2024, the company transferred 15,014 treasury shares to certain Board members as part of their annual fees, with Samuli Seppälä receiving his remuneration fully in cash. Typically, 50% of the annual Board fees are paid in shares, either purchased from the market or using treasury shares. Verkkokauppa.com Oyj is an e-commerce company listed on Nasdaq Helsinki, with 2023 revenue of EUR 503 million and around 700 employees.

On July 19, 2024, Verkkokauppa.com Oyj reported a transaction involving Arja Talma, a member of the Board of Directors. The Annual General Meeting on April 4, 2024, had resolved to pay the annual fee of the Board in four equal installments in company shares. Consequently, 4,289 shares were transferred to Arja Talma as part of a share-based incentive. The transaction was notified under Article 19 of the EU Market Abuse Regulation. The shares were transferred outside a trading venue at a unit price of 0 EUR. Verkkokauppa.com is a leading e-commerce company in Finland, known for its fast deliveries and competitive prices. The company was founded in 1992, and in 2023, it had a revenue of EUR 503 million and employed around 700 people. It is listed on the Nasdaq Helsinki stock exchange.

On July 19, 2024, Verkkokauppa.com Oyj announced that, in line with a resolution from the Annual General Meeting on April 4, 2024, the annual fee for the company's Board of Directors would be paid in four equal installments in company shares. Consequently, 2,145 shares were transferred to Henrik Pankakoski, a member of the Board, as part of a share-based incentive. The transaction was reported under Article 19 of the EU Market Abuse Regulation. Verkkokauppa.com, an e-commerce company founded in 1992, reported a revenue of EUR 503 million in 2023 and employs around 700 people. The company is listed on the Nasdaq Helsinki stock exchange. For more information, Marja Mäkinen, Head of Investor Relations and Corporate Communications, can be contacted.