Slide 1: Interim Report Q2 2022
INTERIM REPORT Q2 2022 Jari Latvanen, CEO Stockmann Group | 22 July 2022
Slide 2: Stockmann Group in Q2 2022
STOCKMANN GROUP IN Q2 2022 Group’s revenue, EUR million • Stockmann Group 269.0 – Revenue EUR 269.0 million, up by 18.0% (228.0) – Operating result increased clearly in both Lindex and Stockmann – Rolling 12 months revenue increased with 19.1% to EUR 980.4 million Group’s operating result, – Adjuste
Slide 3: Stockmann Division
STOCKMANN DIVISION
Slide 4: Stockmann Division, Performance in Q2 2022
STOCKMANN DIVISION, PERFORMANCE IN Q2 2022 • Revenue EUR 81.0 million (66.0) QUARTERLY REVENUE – Revenue was up by 22.6% EUR mill. – Sales in the brick-and-mortar stores grew 28.5% due to higher visitor volumes 100 and customer’s larger average purchase 80 – Share of online sales was 14.6% for the q
Slide 5: Stockmann Division, Highlights in Q2 2022
STOCKMANN DIVISION, HIGHLIGHTS IN Q2 2022 • Revenue grew by 22.6% • Gross margin increased to 45.3% • MyStockmann loyalty programme and a new online store were launched in Estonia and Latvia – boosting loyal customer base with 10 000 new members in June in all three countries, nearly 21 000 in Q2 •
Slide 6: Stockmann Division's Way Forward
STOCKMANN DIVISION’S WAY FORWARD • Customer centric roadmap - full focus on value creation, sustainable growth & profitability – Building seamless omnichannel experience – better services, faster last mile deliveries: Wolt collaboration pilot continues – 160 celebrations year activities continuing –
Slide 7: Lindex
LINDEX Susanne Ehnbåge Lindex CEO
Slide 8: Lindex, Performance in Q2 2022
LINDEX, PERFORMANCE IN Q2 2022 • Revenue EUR 188.0 million (162.0) QUARTERLY REVENUE – Revenue up by 16.1% or up by 18.2% in comparable currency rates (2019 21.9%) EUR mill. – Sales in brick-and-mortar stores increased by 23.1% (2019 9.5%) 200 – Share of digital sales was 15.9% (2021 19.5%, 2019 6.6
Slide 9: Lindex, Highlights in Q2 2022
LINDEX, HIGHLIGHTS IN Q2 2022 • First femtech products: Female Engineerings period proof underwear • Important progress within Lindex circular transformation – Widening our offer through pop-up store with secondhand baby clothes – Scales up reuse of recycled materials through OnceMore® – 78% of Lind
Slide 10: Lindex, New Omnichannel Warehouse
LINDEX, NEW OMNICHANNEL WAREHOUSE • Investments in new highly automated omnichannel warehouse – The amount of capital expenditure is approximately EUR 110 million including land, building and automation – Supply all sales channels and ensure efficient distribution and stock management – Enable conti
Slide 11: Lindex Way Forward
LINDEX WAY FORWARD • Work towards our long-term targets – Significant growth with high profitability while reduce CO2 emissions • Continue our investments for global, digital and sustainable growth – Extensive investments in new omni-warehouse and digitalisation – Reach new and develop existing mark
Slide 12: Stockmann Group
STOCKMANN GROUP Annelie Forsberg CFO
Slide 13: Restructuring Programme Proceeds According to Plan
RESTRUCTURING PROGRAMME PROCEEDS ACCORDING TO PLAN • Department store properties sold New long-term leaseback agreements – Tallinn (December 2021, VKG) – Riga (January 2022, VKG) – Helsinki (April 2022, Keva) • All secured and unsecured restructuring debt paid • No interest-bearing debt remains (exc
Slide 14: Stockmann Group, Q2 2022 Financial Performance
STOCKMANN GROUP, Q2 2022 FINANCIAL PERFORMANCE • Revenue EUR 269.0 million (228.0) QUARTERLY REVENUE – Up 18.0% vs 2021 EUR mill. +18.0% – Up 11.0% vs 2019 (before pandemic) 300 250 • Gross margin 59.4% (60.5) 200 150 • Operating costs EUR 102.4 million (86.7) 100 • Operating result EUR 114.5 millio
Slide 15: Stockmann Group, R12 Financial Performance
STOCKMANN GROUP, R12 FINANCIAL PERFORMANCE REVENUE R12 • Revenue EUR 980.4 million (823.2) EUR mill. – Up 19.1% vs R12 June 2021 1200 – Up 2.1% vs R12 Dec 2019 (before pandemic) +19.1% 1000 • Adjusted operating result EUR 94.1 million (19.1) 800 – Excl. selling Tallinn & Riga real estate and restruc
Slide 16: Stockmann Group per Division
STOCKMANN GROUP PER DIVISION ADJUSTED OPERATING RESULT R12 EUR mill. 120.0 100.0 80.0 60.0 40.0 20.0 0.0 -20.0 -40.0 -60.0 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Lindex Stockmann STOCKMANN 22.7.2022 16
Slide 17: Stockmann Group, Interest-Bearing Net Debt
STOCKMANN GROUP, INTEREST-BEARING NET DEBT Divestment Divestment Long-term Conversion of unsecured Divestment Divestment Divestment EUR mill. of the of Nevsky credit facilities debt to senior secured of the of the of the Book House Centre renegotiated bonds according to the property property propert
Slide 18: Key Figures
KEY FIGURES Rolling Rolling 12 months 12 months 1-6/2022 1-6/2021 1-12/2021 30.6.2022 30.6.2021 Adjusted operating result EUR mill. 31.6 5.8 68.3 94.1 19.1 Operating result EUR mill. 124.3 -1.2 82.1 207.6 -242.7 Net financial items EUR mill. -11.8 -8.5 -16.9 -20.2 -13.6 Net result for the period EUR
Slide 19: Key Figures
KEY FIGURES 30.6.2022 30.6.2021 31.12.2021 Cash and cash equivalents EUR mill. 184.6 155.6 213.7 Inventories EUR mill. 180.6 148.7 154.8 Equity ratio % 25.6 14.1 18.9 - Excluding IFRS 16 53.0 19.4 27.3 Equity EUR mill 333.0 194.7 268.2 Lease liabilities EUR mill. 573.4 327.8 337.2 Balance sheet tota
Slide 20: Lease Liability After Sale-and-Leaseback of Helsinki Property
LEASE LIABILITY AFTER SALE-AND-LEASEBACK OF THE PROPERTY IN HELSINKI CITY CENTRE Number Average lease Lease Stores of stores period left liability Stockmann Helsinki city centre 1 19.8 191.1 Stockmann other premises 7 7.5 94.3 Stockmann other leases 6.0 Lindex stores 408 1.8 282.0 Total 416 573.4 ST
Slide 21: Guidance and Outlook for 2022
GUIDANCE AND OUTLOOK FOR 2022 • Guidance for 2022 (published 19.7.2022): Stockmann expects an increase in the Group’s revenue and that the adjusted operating result improves compared to previous year. Guidance is based on the assumption that there will be no major changes in consumer spending during
Slide 22: Q&A Further information
Q&A Further information stockmanngroup.com investor.relations@stockmann.com