Financial statements summary 2023

The 2023 financial year in a couple of bullet points:

• Resourcing for Johku's development continued at a strong level.

• Johku focused on internationalizing its merchants' revenue and sales through new integrations and partnerships (Tripadvisor Bókun and Channex).

• Johku explored and developed the company's growth and internationalization opportunities through various potential stakeholders and partners.

Focus on profitability and productivity

Throughout 2023, our primary goal was to optimize profitability and productivity. In our development work, we focused on growing our merchants' revenue and expanding their sales internationally. The launch of a new, tightly integrated channel manager in cooperation with Channex was a significant milestone in the first half of the year, paving the way for effortless international scaling for accommodation providers. Our partnership with Tripadvisor Bókun, concluded in the second half of the year, in turn aims to create a robust and smooth route for the internationalization of activities. In addition to these strategic partnerships, numerous updates were made to Johku with the aim of optimizing merchants' sales process. We also renewed our customer management and support systems and our marketing communications so that they would better match our growth and international expansion goals.

Despite the challenges posed by the Finnish market and the economic situation, 2023 was a successful year in reaching our primary goals. Johku's transaction volume grew by 89%, from about €19 million to €36 million (tourism + other). Revenue grew by about 25%, and EBITDA turned positive after the preceding development-focused years. The number of merchant accounts grew by 16% to 2,433. The number of merchants actively using Johku grew to 897, of whom 593 generated revenue.

Building growth and expanding internationally

Toward the end of 2023, the results of the new partnerships and the improved sales and marketing strategies began to show. Johku's technical and functional capabilities, combined with strategic partnerships, have made the Johku ecosystem a serious contender among larger companies as well.

We are in continuous dialogue with several different stakeholders about Johku's internationalization and growth. Johku's strengthening position in the Finnish tourism sector is attracting more and more attention, and our technological capability is significantly better than our competitors'.

Business figures 2023