Lindex Group Plc Class B · OMXHEX:LINDEX
Lindex Group Plc Class B — Stockmann Group — Q2 2021 Earnings Presentation
18 slides from Lindex Group Plc Class B's earnings presentation, Jul 23, 2021
Slide 1: Half Year Financial Report Q2 2021
HALF YEAR FINANCIAL REPORT Q2 2021 Jari Latvanen, CEO Stockmann Group | 23 July 2021
Slide 2: Stockmann Group in Q2 2021
STOCKMANN GROUP IN Q2 2021 • Stockmann Group Group’s gross margin – Revenue EUR 228.0 million, up by 21.4% in comparable currency rates 60.5% – Gross margin improved in both Lindex and Stockmann – Operating result increased in both Lindex and Stockmann (54.1) • Lindex – Revenue up by 32.7% to EUR 16
Slide 3: Stockmann Division
STOCKMANN DIVISION
Slide 4: Stockmann's revenue during the COVID-19 pandemic
STOCKMANN’S REVENUE DURING THE COVID-19 PANDEMIC Revenue development vs 2019 • Sales Q2 2021 Q1 Q2 Q3 Q4 Q1 Q2 2020 2020 2020 2020 2021 2021 increased 11.5% vs 30% Crazy Days in The year Sales 2020 but were 23.0% Web sold well, but started below improved smaller vs 2019 Sharp decline total campaign
Slide 5: Stockmann Division, performance in Q2 2021
STOCKMANN DIVISION, PERFORMANCE IN Q2 2021 • Revenue EUR 66.0 million (60.6) QUARTERLY REVENUE – Revenue was up by 9.0% EUR mill. – Merchandise sales in the brick-and-mortar store increased significantly, by 25% 150 compared to 2020 – The online store decreased by 22.3% (increased by 82.1% compared
Slide 6: Stockmann Division, highlights in Q2 2021
STOCKMANN DIVISION, HIGHLIGHTS IN Q2 2021 • Clearly improving profitability during H1 2021 and intensified visitor flows in brick-and-mortar stores during the second quarter of this year • Jumbo and Tampere department store renewals launched for customers • BBQ Royale restaurant and Café royale by c
Slide 7: Stockmann Division's way forward
STOCKMANN DIVISION’S WAY FORWARD • Department store renewals continue in Helsinki and Riga • Focus on digital development and improvements in customer experience - strengthening our omnichannel set-up and smoothness of customer journey continues • The sale and lease-back process of the department st
Slide 8: Lindex
LINDEX Susanne Ehnbåge Lindex CEO
Slide 9: Lindex sales development during the COVID-19 pandemic
LINDEX SALES DEVELOPMENT DURING THE COVID-19 PANDEMIC Sales development in local currencies vs 2019 Q1 Q2 Q3 Q4 Q1 Q2 2020 2020 2020 2020 2021 2021 30% • Total sales in Q2 Strong Lockdown in 15 increased by 25.6% vs 20% development of 18 markets. 2020 and 4.1% vs 2019 in Jan-Feb. Slow recovery in co
Slide 10: Lindex, financial performance in Q2 2021
LINDEX, FINANCIAL PERFORMANCE IN Q2 2021 • Revenue EUR 162.0 million (122.1) QUARTERLY REVENUE – Revenue up by 32.7% or up by 25.6% in comparable currency rates (4.1% compared to 2019) EUR mill. 200 – Growth in online sales was 51.4% (206% compared to 2019) – Share of online sales was 19.5% (16.2% i
Slide 11: Lindex, highlights in Q2 2021
LINDEX, HIGHLIGHTS IN Q2 2021 • Increased sales in all markets and business areas • Initially closed stores in most of our sales markets but a more positive situation in May and June due to re-opening – 335 of 452 stores open in April and all stores re-opened beginning of June • Continued very stron
Slide 12: Lindex way forward
LINDEX WAY FORWARD • Focus on continued digital development for global growth and meeting customer needs – Implement new More loyalty programme system – Digital transformation of our stores – Evaluation and planning of new omnichannel Distribution Centre • Proceed our cost efficiency and flexibility
Slide 13: Stockmann Group
STOCKMANN GROUP Pekka Vähähyyppä CFO
Slide 14: Restructuring programme execution proceeds well
RESTRUCTURING PROGRAMME EXECUTION PROCEEDS WELL • Stronger balance sheet after successful conversions of restructuring debt into equity and into a new bond in July 2021 • Combination of share classes and increase in number of shares; impact in share liquidity • Remaining undisputed restructuring deb
Slide 15: Stockmann Group, financial performance in Q2 2021
STOCKMANN GROUP, FINANCIAL PERFORMANCE IN Q2 2021 • Revenue EUR 228.0 million (182.7) QUARTERLY REVENUE – Up 21.4% in comparable currency rates EUR mill. • Gross margin 60.5% (54.1) 300 – Gross margin up in both Lindex and Stockmann 200 • Operating costs EUR 86.5 million (71.8) 100 • Operating resul
Slide 16: Key figures
KEY FIGURES 4-6/2021 4-6/2020 1-6/2020 1-6/2020 1-12/2020 Equity ratio % 14.3 24.8 14.6 - Excluding IFRS 16 19.6 35.4 20.8 Adjusted operating result EUR mill. 26.7 0.8 5.6 -25.9 4.9 Operating result EUR mill. 26.3 -0.4 -1.4 -28.3 -252.4 Net financial items EUR mill. -2.8 -8.2 -8.5 -19.5 -41.6 Result
Slide 17: Guidance and outlook for 2021
GUIDANCE AND OUTLOOK FOR 2021 Updated guidance for 2021: Stockmann expects a clear increase to the Group revenue and the adjusted operating result to be clearly positive assuming that no major COVID-19 restrictions are imposed. Previous guidance (published on 30 April 2021): The prolonged COVID-19 p
Slide 18: Q&A Further information
Q&A Further information stockmanngroup.com investor.relations@stockmann.com STOCKMANN 23.7.2021 18