Lindex Group Plc Class B · OMXHEX:LINDEX
Lindex Group Plc Class B — Q2 2025 Earnings Presentation
25 slides from Lindex Group Plc Class B's earnings presentation, Jul 18, 2025
Slide 1: Interim Report January–June 2025
Interim Report January–June 2025 Susanne Ehnbåge, CEO Henrik Henriksson, CFO 18 July 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 Apr 2025 May 2025 Jun 2025 5 0 -5 -10 -15 -20 -25 Sources: Eurostat and Opinion Norway Sweden Finland Norway
Slide 5: Key messages
Key messages The Group over- Stockmann division: The Group’s performed the fashion consistent profitability full-year guidance market despite the improvement continued maintained prevailing volatility Lindex division’s The restructuring Strategic assessment omnichannel distribution programme continu
Slide 6: Lindex Group's Q2 impacted by market volatility and cautious consumer sentiment
REVENUE, M€ Lindex Group’s Q2 impacted by market 0.9% volatility and cautious consumer sentiment, 300.0 251.6 253.9 Stockmann continued to improve 250.0 Group’s revenue increased 200.0 • The Group’s revenue increased by 0.2% in local currencies 150.0 • The revenue of both divisions was impacted by t
Slide 7: Lindex division, Q2 2025
Lindex division, Q2 2025 • Strong digital sales growth in all categories and increased digital share 20.3% (18.2) • Kidswear best performing category • Launched Delicate Lingerie • The ramp-up of new, highly automated omnichannel warehouse continues at full speed • Continued progress in digital and
Slide 8: Stockmann division, Q2 2025
Stockmann division, Q2 2025 • Result improved for the 5th consecutive quarter due to continued successful efficiency measures • Enhanced competitiveness of omnichannel operations generated results – Stockmann over-performed the market • Digital sales growth continued • Baltics’ revenue increased • E
Slide 9: Guidance 2025 (unchanged)
Guidance 2025 (unchanged) 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.
Slide 10: Financial update
Financial update 10
Slide 11: Q2: The Lindex division's revenue increased in challenging market
LINDEX DIVISION REVENUE, M€ Q2: The Lindex division’s revenue 1.5% increased in challenging market 200 169.7 172.3 150 • Revenue increased despite the market volatility and challenges posed by a late and cold start of the 100 summer 50 • In local currencies, revenue increased by 0.4% Q2 2024 Q2 2025
Slide 12: Q2: Stockmann improved profitability, revenue on par
STOCKMANN DIVISION REVENUE, M€ Q2: Stockmann improved 100.0 81.9 -0.2% 81.7 profitability, revenue on par • Revenue was on par with the PY, affected by a late 50.0 and cold start of the summer season, especially in the division’s biggest category, fashion 0.0 • However, Stockmann’s fashion category
Slide 13: Q2: Changes in Group revenue and adjusted operating result
Q2: Changes in Group revenue and adjusted operating result CHANGES IN REVENUE, M€ CHANGES IN ADJUSTED OPERATING RESULT, M€ 280 35 260 251.6 2.6 253.9 30 29.5 -0.1 240 25 220 Fashion Fashion 0.8 22.2 market market 20 -8.0 200 volatility declined, but combined division 180 with cold 15 Successful perf
Slide 14: Q2: Group key figures
Q2: Group key figures REVENUE, M€ ADJUSTED OPERATING RESULT, M€ 0.9% -7.3 M€ 300.0 29.5 251.6 253.9 30.0 250.0 22.2 20.0 200.0 150.0 10.0 100.0 0.0 Q2 2024 Q2 2025 Q2 2024 Q2 2025 25.5 M€ 13.1 M€ 58.0% 0.08 € (20.3) (7.0) (60.0) (0.04) 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 70.4 62.1 60 47.1 42.9 39.6 40 36.2 33.5 20 0 -1.8 -5.1 -2.5 -2.3 -5.1 -3.9 -1.8 -1.0 -5.4 -7.0 -6.3 -8.7 -5.8 -5.5
Slide 16: 1–6 2025: Operating free cash flow and capital expenditure
1–6 2025: Operating free cash flow and capital expenditure OPERATING FREE CASH FLOW, M€* CAPITAL EXPENDITURE (EXCL. IFRS 16 ITEMS), M€ 0.0 20.0 16.9 15.9 -5.0 15.0 -10.0 10.0 -15.0 5.0 -20.0 -15.8 -17.3 0.0 1-6 2024 1-6 2025 -25.0 1-6 2024 1-6 2025 • Inventories were EUR 183.0 (173.8) million • CAPE
Slide 17: Changes in cash position
Changes in cash position CHANGES IN CASH POSITION PER ITEM, M€ 85.0 M€ (103.1) 200 cash 64.8 150 -10.7 114.7 2025 100 -58.5 0.5 5.1 85.0 -16.0 1–6 50 -12.0 -2.8 00 Adjusted Lease Paid/refund Other adj. Ending Opening Adjusted EBITDA Change Lease payments CAPEX Paid/refund of taxes Proceeds Other Cur
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 1 -32 -100 -234 -313 -274 -325 -278 Divestment of the property in Helsinki -200 -300 -4
Slide 19: Financial highlights
Financial highlights Lindex division’s Revenue increased Adjusted operating revenue improved despite the challenging result improved towards the end of the market environment due to successful cost quarter, and grew efficiency measures compared to PY 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 • Progressing towards full operation of the new omnichannel warehouse ensuring implementation of long-term growth plans • Continue driving growth in current markets and expanding Lindex business into new markets, growing with new partnerships • Finalising Di
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 • Focus on offering differentiation with new brands and profitability through inventory and supplier management • Acc
Slide 25: Q&A Further information
Q&A Further information lindex-group.com investor.relations@stockmann.com 25