Tokmanni reported solid growth for the last quarter

Tokmanni reported a 2,3% growth for the last quarter, the slowest growth since Q2/2017. The same store sales growth dipped to decline, also for the first time since 2017.

Just like Verkkokauppa.com yesterday, Tokmanni had a very strong growth quarters as comparison figures from last years. From Q4/2019 to Q4/2020 the company grew by 14,6%.

On top of the pandemic growth, the 2,3% growth is a solid growth (17,6% on a two year basis).

The profit margin Tokmanni remains high, 12,2%. That is 1,2%-points higher than in Q4/2019. Revenues have risen from Q4/2019 by 17,6%.

For the second time in 2021, Tokmanni lost to the overall growth of the non-food market (4,3% vs 2,3%). However, just like with Verkkokauppa.com, the non-food market growth is from the Grocery Association (PTY) and thus it is not fully comparable to either Tokmanni or Verkkokauppa.com.

To contrast Verkkokauppa and Tokmanni, the store revenues saw very different kind of development during the Christmas quarter for these two companies.

For Verkkokauppa stores declined by -12%, whereas Tokmanni grew by 2,3%.