Finnish electronics retailer Verkkokauppa.com increased both revenue and profits during the third quarter. The company's revenue grew by €17 million compared to last year, reaching over €130 million. Comparable operating profit stood at nearly €4 million, a significant improvement from last year's €0.7 million loss.
CEO Panu Porkka stated that despite weak consumer confidence, the company achieved strategic growth in key areas. Online sales grew by nearly one-quarter compared to last year's July-September period.
The transition to Windows 11 and resulting computer upgrades drove much of the growth. A successful back-to-school campaign also contributed to positive results. International sales showed particularly strong performance, increasing by almost 35 percent.
This marks the third consecutive quarter of growth for the company, with revenue up 15 percent compared to the previous year.
The quarter also included a major business transaction. Verkkokauppa.com sold its consumer financing operations to Norion Bank and its payment solutions unit Walley in early September. The deal was valued at approximately €33 million.
The one-time sales profit added over €3 million to the company's operating result. However, this exceptional gain is not included in the comparable operating profit figure.
Company officials expect the transaction to significantly strengthen their balance sheet without affecting 2025 guidance. The deal includes a long-term partnership with Walley to continue offering consumer financing services to customers.
Verkkokauppa.com anticipates both revenue and comparable operating profit will grow this year compared to 2023. Last year's revenue was approximately €470 million with comparable operating profit around €2 million.
The company notes that their outlook contains uncertainties related to purchasing power and changing consumer behavior.
Seasonality plays a major role in Verkkokauppa.com's business. Full-year results depend heavily on fourth-quarter performance, which includes Black Friday promotions and the Christmas shopping season.
The company's stock price rose about four percent in Helsinki trading on Thursday morning.
This performance shows how technology refresh cycles can drive retail growth even during economic uncertainty. The Windows 11 transition appears to have provided a timely boost for the Finnish electronics market.