Lindex Group Plc Class B · OMXHEX:LINDEX
Lindex Group Plc Class B — Stockmann Group — FY2021 Earnings Presentation
20 slides from Lindex Group Plc Class B's earnings presentation, Feb 25, 2022
Slide 1: Financial Statements 2021
FINANCIAL STATEMENTS 2021 Jari Latvanen, CEO Stockmann Group | 25 February 2022
Slide 2: Stockmann Group Full-Year 2021: The Year of a Strong Turnaround
STOCKMANN GROUP FULL-YEAR 2021 THE YEAR OF A STRONG TURNAROUND • Stockmann Group Group’s gross margin – Revenue EUR 899.0 million, up by 11.2% in comparable currency rates 58.6% – Gross margin increased – The cash flow was strong, and the cash amounted to EUR 213.7 million (56.1) • Lindex Group’s ad
Slide 3: Stockmann Group in Q4 2021
STOCKMANN GROUP IN Q4 2021 • Stockmann Group Group’s gross margin – Revenue EUR 277.5 million, up by 17.2% in comparable currency rates 57.7% – Gross margin declined slightly – Adjusted operating result increased clearly in both Lindex and Stockmann (58.0) • Lindex – Revenue up by 27.4% to EUR 177.8
Slide 4: Stockmann Division
STOCKMANN DIVISION
Slide 5: Stockmann Division in 2021
STOCKMANN DIVISION IN 2021 • Revenue increased by 2.8% – Revenue in Finland increased by 3.0% – Revenue in the Baltics increased by 2.3% • Sales in the brick-and mortar stores increased by 3.8% due to higher visitor volumes and larger customer average purchases • Online store accounted for 15.9% of
Slide 6: Stockmann Division, Performance in Q4 2021
STOCKMANN DIVISION, PERFORMANCE IN Q4 2021 • Revenue EUR 99.7 million (92.4) QUARTERLY REVENUE – Revenue was up by 7.9% (down by 20.8% compared to 2019) EUR mill. – Sales in the brick-and-mortar stores grew due to higher visitor volumes and 150 customer’s larger average purchase – Share of online sa
Slide 7: Stockmann Division's Way Forward
STOCKMANN DIVISION’S WAY FORWARD • Enhanced operations to improve profitability – Stockmann will continue to execute the restructuring programme – Operating model renewal to ensure customer satisfaction and increase cost efficiency – Renewed commercial process – Seamless omnichannel development • My
Slide 8: Lindex
LINDEX Susanne Ehnbåge Lindex CEO
Slide 9: Lindex in 2021
LINDEX IN 2021 • Highest total sales ever – Sales increased by 19.8% or up by 16.8% in comparable currency rates (2019 4.1%) – Sales increased in all channels and business areas, lingerie increased the most • Very strong digital growth – Increased by 47.0% (2019 200%) – Online sales was 20.6% of tot
Slide 10: Lindex, Financial Performance in Q4 2021
LINDEX, FINANCIAL PERFORMANCE IN Q4 2021 • Revenue EUR 177.8 million (139.6) QUARTERLY REVENUE – Revenue up by 27.4% or up by 25.5% in comparable currency rates (2019 8.8%) EUR mill. – Growth in online sales was 12.0% (2019 174.0%) 200 – Share of online sales was 19.8% (2020 21.8%, 2019 7.3%) 150 –
Slide 11: Lindex Way Forward
LINDEX WAY FORWARD • Ambitious long-term targets – Significant growth – High profitability – Reduce CO2 emissions in entire value chain with 50 per cent • Investments for global, digital and sustainable growth – Extensive investments in logistics and digitalisation – Reach new and develop existing m
Slide 12: Stockmann Group
STOCKMANN GROUP Pekka Vähähyyppä CFO
Slide 13: Restructuring Programme Execution Proceeds According to the Plan
RESTRUCTURING PROGRAMME EXECUTION PROCEEDS ACCORDING TO THE PLAN • 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
Slide 14: Sale and Leaseback of the Properties in Tallinn and Riga
SALE AND LEASEBACK OF THE PROPERTIES IN TALLINN AND RIGA • Stockmann sold its department store properties in Tallinn and Riga on 29 December 2021 • Stockmann will continue its department store operations in Tallinn and Riga under long-term leaseback agreements made with the new owner – Leases with S
Slide 15: Stockmann Group in 2021
STOCKMANN GROUP IN 2021 MERCHANDISE SALES 2021 REVENUE 2021 BY DIVISION LINDEX EUR 899.0 million REVENUE PER CHANNEL Stockmann Online Food 32% sales 4% 20.6% Home 6% Beauty 8% Brick-and- Lindex mortar sales 68% 79.4% STOCKMANN DIVISION REVENUE 2021 BY MARKET REVENUE PER CHANNEL Baltics Online Finlan
Slide 16: Stockmann Group, Financial Performance in Q4 2021
STOCKMANN GROUP, FINANCIAL PERFORMANCE IN Q4 2021 • Revenue EUR 277.5 million (232.0) QUARTERLY REVENUE – Up 17.2% in comparable currency rates EUR mill. • Gross margin 57.7% (58.0) 300 – The gross margin for the merchandise sales improved, but the total gross 200 margin declined slightly due to a l
Slide 17: Stockmann Group, Interest-Bearing Net Debt
STOCKMANN GROUP, INTEREST-BEARING NET DEBT EUR mill. Divestment of the 900 Book House 801.8 Conversion of Divestment 800 Divestment usecured debt to of the Long-term of Nevsky credit senior secured properties 700 Centre bonds according to facilities in Tallinn* renegotiated the restructuring 600 pro
Slide 18: Key Figures
KEY FIGURES 10-12/2021 10-12/2020 1-12/2021 1-12/2020 Equity ratio % 18.9 14.5 - Excluding IFRS 16 27.3 20.6 Adjusted operating result EUR mill. 29.6 -3.3 68.3 -12.3 Operating result EUR mill. 50.6 -256.0 82.1 -269.6 Net financial items EUR mill. -4.2 4.8 -16.9 -24.6 Result for the period EUR mill.
Slide 19: Guidance and Outlook for 2022
GUIDANCE AND OUTLOOK FOR 2022 • Guidance for 2022: Stockmann expects an increase in the Group’s revenue and that the adjusted operating result will be clearly positive assuming that no major COVID-19 restrictions are imposed. • Market outlook for 2022: Uncertainty in the global economy is expected t
Slide 20: Q&A / Further information
Q&A Further information stockmanngroup.com investor.relations@stockmann.com