Q1 2025 Lindex Group Oyj Earnings Call Transcript
Key Points
- Stockmann division showed continuous profit improvement, marking the fourth consecutive quarter of positive results.
- Lindex division achieved digital growth, with digital sales accounting for 23.7% of total revenue.
- Successful launch of new e-commerce sites and customer apps in Sweden and Norway contributed to online growth.
- International expansion efforts included new store openings in Copenhagen and London, enhancing brand visibility.
- Gross margin improved to 57.4%, reflecting better sourcing and offering development.
- Overall revenue declined by 3% in local currencies, impacted by weakened consumer confidence and market volatility.
- Lindex division faced temporary revenue pressures due to supply delays and logistical challenges.
- Adjusted operating result decreased to minus EUR8.7 million, with Lindex division's result negatively impacted by higher operating costs.
- Cash flow was negatively affected by increased working capital and higher inventories, leading to a cash flow of minus EUR62.2 million.
- The transition to a new omnichannel distribution center caused disruptions, affecting product availability and sales.
Good morning, everyone. I am Susanne Ehnbage, and I am the CEO of Lindex Group. And I would like to warmly welcome you to our webcast where we will walk you through the highlights of January to March 2025. I have here with me our CFO, Henrik Henriksson.
Good morning.
Now let's continue to the agenda. We will start with the highlights of Q1 business updates for our 2 divisions, Lindex and Stockmann, and then look at the financials more closely. We will finish with an update on our way forward. After our presentation, we will have time for your questions. But let's then begin with our business update, where we will first take a look at our key messages
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