As a result of hgroup structure, Verkkauuppa.com report the parent company separated according to Finnish Accounting Standards (FAS) – The Group was reported according to IFRS
Verkkokauppa.com Oyj’s current financial reporting date for today is December 20, 2022.
Due to the structure of the Group, Verkkokauppa.com will report the parent company separately, and in accordance with the Finnish Accounting Standards (FAS). Verkkokauppa.com has created a group since completing the purchase on April 1, 2022.
The changes do not affect the report of the Verkkukuppa.com Group. The Group reports its year-end financial statements and financial statements for the financial period ending on 31 December 2022 in accordance with (IFRS), and for the first time the company families are reported separately in accordance with FAS.
Attached to this release is an unaudited interim bridge calculation in accordance with FAS from the company’s statement of income and balance sheet for the full year 2021.
Verkkokauppa.com publishes its 2022 Financial Statements Bulletin on February 9, 2023.
For more information, please contact:
Mikko Forsell
CFO, Verkkauuppa.com Oyj
mikko.forsell@verkkakauppa.com
Tel. +358 10 309 5555
Marja Mäkinen
Head of Investor Relations and Corporate Communications
Verkkauuppa.com Oyj
Marja.makinen@verkkukuppa.com
Tel. +358 40 671 2999
Attachments:
The non-controllable interim bridge calculation in accordance with the FAS from the parent company of Verkkokauppa.com is the statement of income and balance for the full year 2021.
| IFRS 31 December 2021 | FAS Adjustment Requirements | FAS December 31, 2021 | ||
| Income | 574 513 965 | 574 513 965 | ||
| Income from other activities | 921 848 | 921 848 | ||
| Equipment and Services | -483 322 953 | 3b) | 59 749 | -483 263 203 |
| Employee benefit costs | -36 570 478 | 1b) | 1,538,289 | -35 032 189 |
| Depreciation and amortization | -4 983 439 | 2) | 3 649 630 | -1 333 809 |
| Other expenses | -30 263 077 | 1b), 2) | -6 572 454 | -36 835 531 |
| Employment benefits | 20,295,867 | -1 324 786 | 18 971 081 | |
| Financial money | 5629 | 5629 | ||
| Financial money | -1 352 447 | 2) | 1,197,715 | -154 732 |
| Net cash flow | -1 346 818 | 1,197,715 | -149 102 | |
| Profit before income tax | 18 949 049 | -127 071 | 18,821,978 | |
| Taxes in the accounting period | -3 795 968 | -3 795 968 | ||
| Taxes from the current accounting period | 261 | 261 | ||
| Income tax | -60 205 | 5) | 60 205 | 0 |
| Total income tax | -3 855 912 | 60 205 | -3 795 706 | |
| Term benefits | 15,093,138 | -66 866 | 15,026,272 |
| The IFRS share price is 31 December 2021 | FAS Adjustment Requirements | FAS on December 31, 2021 | ||
| Intangible assets | ||||
| Property, plant and equipment | 1 363 597 | 1 363 597 | ||
| Possession of usable rights | 5 214 014 | 5 214 014 | ||
| Financial investment | 15,776,459 | 2) | -15,776,459 | 0 |
| Deferred tax assets | 266 484 | 3a) | -265 | 266 219 |
| Trade receivables | 1,289,163 | 5) | -1 289 163 | 0 |
| Loan receivables | 3,816,537 | 3,816,537 | ||
| Receivables from companies in the same group, short term | ||||
| Other non-current receivables | 424 764 | 424 764 | ||
| Current assets, total | 28 151 019 | -17 065 887 | 11 085 132 | |
| Current assets | ||||
| and counting | 87 802 963 | 3b) | 509 341 | 88 312 304 |
| Trade receivables | 23 123 801 | 23 123 801 | ||
| Receivables from companies in the same group, long-term | ||||
| The loan that can be received | ||||
| Other receivables | 3 699 415 | 3 699 415 | ||
| Payment of taxes | ||||
| Income | 8,627,205 | 8,627,205 | ||
| Cash and cash equivalents | 20 917 082 | 20 917 082 | ||
| Current assets, total | 144 170 466 | 509 341 | 144 679 807 | |
| Total assets | 172 321 485 | -16 556 546 | 155 764 939 | |
| precision | ||||
| Share capital | 100,000 | 0 | 100,000 | |
| Treasury shares | -1 610 616 | 1c) | 11 173 | -1 599 443 |
| Unlimited investment | 25,937,990 | 0 | 25,937,990 | |
| Retained earnings | -3 837 936 | 1), 2), 3), 4), 5) | 3 114 194 | -723 742 |
| Term benefits | 15,093,138 | 1), 2), 3), 4), 5) | -66 866 | 15,026,272 |
| Total equity | 35 682 576 | 3,058,501 | 38 741 077 | |
| Non-current obligations | ||||
| Lease liabilities | 16,104,849 | 2) | -16 104 849 | 0 |
| Obligations to Lending Institutions | ||||
| Deferred tax payments | ||||
| Obligations in the same group, long-term | ||||
| supplies | 895 743 | 895 743 | ||
| Non-current liabilities, total | 17,000,591 | -16 104 849 | 895 743 | |
| Current duties | ||||
| Lease liabilities | 4 034 477 | 2) | -4 034 477 | 0 |
| Obligations to Lending Institutions | ||||
| Advance payment received | 5 760 991 | 5 760 991 | ||
| Debt sales | 77 609 210 | 77 609 210 | ||
| Responsibilities in the same company, short term | ||||
| Other Responsibilities | 10,717,909 | 1a) | -756 967 | 9 960 942 |
| liabilities acquired | 19,777,727 | 1a), 2), 4) | 1 281 246 | 21 058 973 |
| Income tax liability | 1 738 004 | 0 | 1 738 004 | |
| Current liabilities, total | 119 638 319 | -3 510 198 | 116 128 120 | |
| Absolute duty | 136 638 910 | -19 615 047 | 117 023 863 | |
| Total equity and liabilities | 172 321 485 | -16 556 546 | 155 764 939 | |
FAS rating
The online table of the history of the list of Verkkukuppa.com Oyj file US dollars every year until the year 2014 was created this page.
1. Change in Classification
(a) Changes in classification relating to balance sheets.
(b) Cost of Volunteers
Companies have shown in their IFRS financial statements that all employee expenses included in employee benefits are shown as part of employee expenses.
In FAS, all volunteer expenses are included in other business expenses.
c) special deposit
In the previous year, the company recorded the cost of sales resulting from the purchase price of its own shares of stock as part of the purchase price of the IFRS.
In FAS, the purchase price of the company’s own shares is treated as an expense in the income statement.
2. Lease
The company is, according to IFRS, the company must record in the balance sheet of all lease contracts the equivalent of the present value of the minimum rental at the beginning of the contract lease of property and liability. The standard includes practical help in recording, where expensive and short-term (less than 12 months) leases may not be recorded. Verkkukuppa.com Corporation has decided to implement both methods of assistance. Assets and liabilities based on leasehold income are calculated by reducing the minimum rent. With processing according to IFRS The rental expense shown in the FAS is a compensation for the depreciation of the asset. In addition, the cost of the debt is recorded, which is shown as a financial expense in the income statement. If the payment of the rental agreement is allocated to the accumulated debt, it is transferred as part of the debt of the rental agreement.
In FAS, the income statement records rental costs over time as expenses from other businesses. At the end of the accounting period, the lease liability is reported on the balance sheet as an external item under commitments.
3. Financial instruments
(a) Classification of equity investments through other comprehensive income
IFRS requires the classification of financial assets based on the business model. The IFRS company evaluated the business model of the financial investment and made an irreversible decision to classify the investment at fair value through other comprehensive income. In FAS, the company manages the investment initially at the purchase price.
According to IFRS, changes in the value of investments are recorded in other comprehensive income. Estimates related to the transfer of conditional investments, related to the other components collected in comprehensive income, the balance involved is transferred to retained earnings.
(b) Annual credits for inventory
In accordance with IFRS, when determining the purchase price of the stock, it is minus the annual credit. According to the FAS, not all annual credits are allocated to the purchase price of the stock.
In this regard, the company must adjust the book value of the warehouse and the deferred tax book. In the income statement, results are reflected in equipment and services, in changes in current assets and in changes in deferred taxes.
4. Other amendments
In 2021, Verkkokauppa.com had a two-part incentive plan for the CEO and the Management team, the 2018–2020 Matching Plan and the Matching Distribution Plan for the 2020–2022 performance.
In 2021, Verkkukuppa.com presented the rewards according to the first commitment period of the Additional Distribution Program 2018-2020 in terms of direct free distribution.
The share-based incentive plan is classified in IFRS reporting as a structured transaction, as Verkkokauppa.com Oyj will deduct, on behalf of the employees, from the allocation of the number of part that covers taxes and fees. in money.
This equity share payment was measured at grant date fair value and recognized as an expense and retained earnings over the applicable period.
In FAS, part-based payments are recognized as expenses and liabilities.
5. Deferred Tax Assets and Liabilities
The Company has recorded IFRS deferred tax assets related to lease agreements and inventories for adjustment. Companies will not record deferred taxes for these items in their FAS financial statements.
Distribution:
Nasdaq Helsinki
Large media
www.verkkuppa.com
Verkkauuppa.com empowers its customers to meet their needs by providing a wide range of products with around 90,000 products. Verkkokauppa.com Oyj serves its retail and corporate customers through its stores, megastores, kiosks and a network of collection points as well as fast delivery and various services. As the most popular and most visited online retailer in Finland, its delivery covers 75 percent of the Finnish population within the next day. The company has four megastores: in Oulu, Pirkkala, Raisio and Helsinki, where its headquarters are located. Verkkokauppa.com employs over 750 people and its shares are listed on the Nasdaq Helsinki stock exchange with the ticker VERK.
