Lindex Group Plc Class B · OMXHEX:LINDEX
Lindex Group Plc Class B — Q1 2025 Earnings Presentation
25 slides from Lindex Group Plc Class B's earnings presentation, Apr 29, 2025
Slide 1: Interim Report January–March 2025
Interim Report January–March 2025 Susanne Ehnbåge, CEO Henrik Henriksson, CFO 29 April 2025 1
Slide 2: Agenda
Agenda • Business update • Financial update • Way forward • Q&A 2
Slide 3: Business update
Business update 3
Slide 4: Consumer confidence remained low in all Lindex Group's main markets
Consumer confidence remained low in all Lindex Group’s main markets Jul 2024 Aug 2024 Sep 2024 Oct 2024 Nov 2024 Dec 2024 Jan 2025 Feb 2025 Mar 2025 5 0 -5 -10 -15 -20 Sources: Eurostat and Opinion Norway Sweden Finland Norway
Slide 5: Key messages
Key messages The fashion market Lindex division: Stockmann division: remained volatile in internal and external consistent profitability the Group’s key logistic challenges improvement continued markets affected performance Good progress in the One disputed Strategic assessment Lindex division’s cla
Slide 6: Lindex Group's Q1 impacted by weakened consumer confidence and logistical challenges, Stockmann improved
REVENUE, M€ Lindex Group’s Q1 impacted by weakened -3.5 % consumer confidence and logistical 200.0 192.8 186.0 challenges, Stockmann improved 150.0 Group’s revenue declined • The Group’s revenue decreased by 3.0% in local currencies 100.0 Q1 2024 Q1 2025 • The revenue of both divisions was impacted
Slide 7: Lindex division, Q1 2025
Lindex division, Q1 2025 • Continued digital sales growth with increased digital share 23.7% (22.9) in line with the strategy • Commercially optimised assortment with Kidswear as the best performing category • Ramp-up and transition phase of new highly automated omnichannel distribution centre conti
Slide 8: Stockmann division, Q1 2025
Stockmann division, Q1 2025 • Continued profitability improvement thanks to successfully implemented efficiency measures • Omnichannel performance further optimised • Stockmann.com delivered growth both in revenue and gross profit • ECom delivery efficiency improved with in-store parcel lockers and
Slide 9: Guidance 2025
Guidance 2025 In 2025, Lindex Group expects its revenue to increase by 0−4% in local currencies compared to 2024. The Group’s adjusted operating result is estimated to be EUR 70−90 million. Foreign exchange rate fluctuations may have a significant effect on the adjusted operating result. 9
Slide 10: Financial update
Financial update 10
Slide 11: Q1: The Lindex division's revenue decreased in challenging market
LINDEX DIVISION REVENUE, M€ Q1: The Lindex division’s revenue -3.3% decreased in challenging market 150 130.6 126.3 • Revenue decreased due to leap day and temporary 100 supply delays related to the extensive ramp-up process of the new omnichannel distribution centre 50 combined with delays in inter
Slide 12: Q1: Stockmann improved profitability, volatility continued
STOCKMANN DIVISION REVENUE, M€ Q1: Stockmann improved 100.0 -3.9% profitability, volatility continued 62.2 59.8 50.0 • Revenue declined due the weakened consumer confidence that affected the sales 0.0 especially in the division’s biggest category, Q1 2024 Q1 2025 fashion • In addition, the lowered v
Slide 13: Q1: Changes in Group revenue and adjusted operating result
Q1: Changes in Group revenue and adjusted operating result CHANGES IN REVENUE, M€ CHANGES IN ADJUSTED OPERATING RESULT, M€ 00 240 Weakened consumer confidence and leap day of PY -01 impacted both divisions -02 220 Decreased revenue and -03 higher 200 192.8 186.0 -04 operating -4.3 costs 180 -2.4 -05
Slide 14: Q1: Group key figures
Q1: Group key figures REVENUE, M€ ADJUSTED OPERATING RESULT, M€ -3.5% -2.2 M€ 250.0 0.0 200.0 192.8 186.0 -5.0 150.0 -10.0 -6.5 -8.7 100.0 -15.0 Q1 2024 Q1 2025 Q1 2024 Q1 2025 -9.5 M€ -20.2 M€ 57.4% -0.13 € (-7.6) (-15.4) (56.3) (-0.10) Operating result Net result Gross margin EPS, basic
Slide 15: The divisions' profitability levels
The divisions’ profitability levels ADJUSTED OPERATING RESULT ROLLING TWELVE MONTHS, M€ EUR mill. 120 100.0 100 93.3 91.3 90.0 90.0 91.0 90.3 87.3 88.9 80.3 83.5 82.9 78.4 78.4 80 70.8 62.1 60 47.1 42.9 39.6 40 36.2 33.5 20 0 -1.8 -5.1 -2.5 -2.3 -5.4 -5.1 -5.8 -5.5 -3.9 -1.8 -9.9 -7.0 -6.3 -8.7 -20
Slide 16: 1–3 2025: Operating free cash flow and capital expenditure
1–3 2025: Operating free cash flow and capital expenditure OPERATING FREE CASH FLOW, M€* CAPITAL EXPENDITURE (EXCL. IFRS 16 ITEMS), M€ 0.0 10.0 -20.0 6.8 6.8 -40.0 5.0 -39.2 -60.0 -57.4 0.0 1-3 2024 1-3 2025 -80.0 1-3 2024 1-3 2025 • Inventories were EUR 202.6 (179.7) million • CAPEX, excluding the
Slide 17: Changes in cash position
Changes in cash position CHANGES IN CASH POSITION PER ITEM, M€ 52.4 M€ (83.7) 200 cash 150 16.6 114.7 2025 100 -39.0 5.6 52.4 1–3 50 -29.3 -6.8 0.3 -8.2 -1.4 00 Adjusted Lease Paid/refund Other adj. Ending Opening Adjusted EBITDA Change Lease payments CAPEX Paid/refund of taxes Proceeds Other Curren
Slide 18: Lindex Group's financial position
Lindex Group’s financial position NET DEBT EXCL. IFRS 16 ITEMS, M€ Conversion of unsecured debt to senior secured bonds EUR mill. 200 Divestment of the property in Tallinn 100 119 100 73 36 61 36 66 30 32 0 11 -7 -32 -100 -234 -313 -274 -325 -278 Divestment of the property in Helsinki -200 -300 -400
Slide 19: Financial highlights
Financial highlights Revenue decreased in Result decreased due to Adjusted operating challenging market decrease in revenue and result improved environment higher operating costs due to successful cost efficiency measures 19
Slide 20: Way forward
Way forward 20
Slide 21: Lindex: Clear strategy for value creation
Lindex: Clear strategy for value creation Transform to a Decouple cost Accelerate growth sustainable business from growth
Slide 22: Lindex division - 2025, Geared for growth
Lindex division - 2025, Geared for growth • Leveraging the full potential of the major investments for continued global, brand-led and sustainable growth • Continuing the important ramp-up of the new omnichannel warehouse to reach full operational capacity, securing long-term growth plans • Focus on
Slide 23: Stockmann: Customer-centric strategy to ensure profitability and future growth
Stockmann: Customer-centric strategy to ensure profitability and future growth Elevate offering: Grow and Optimise Improve Increase focus leverage omnichannel operational on premium and loyal customer performance efficiency luxury base
Slide 24: Stockmann division - 2025, Systematic strategy execution
Stockmann division - 2025, Systematic strategy execution with focus on profitability • Secure systematic progress of operational and cost efficiency measures to improve profitability • Digitalisation and leveraging technology • Organisational and process efficiency • Differentiate the offering with
Slide 25: Q&A Further information
Q&A Further information lindex-group.com investor.relations@stockmann.com 25