Lindex Oyj : Interim Report Q1/2024 Presentation

Interim Report for

January-March 2024

1

Agenda

• Business update
• Financial development
• Way forward
• Q&A

2

Business update

3

Highlights Q1 2024

Underlying revenue	Parent company's	Good progress in
growth, but the result
name change from	the restructuring
was impacted by
Stockmann plc to	process: only one
the timing of Crazy
Lindex Group plc	disputed claim left
Days and freight costs

4

REVENUE, M€

250-2.8%

200	198.5	192.8

150

100

Q1 2023

Q1 2024

*Sources: HUI, Virke, TEJA

Group's underlying revenue developed positively

• negative impact of the Crazy Days' timing

• Lindex division outperformed the market*
• Lindex's sales increased across all main markets in physical stores and digital channels
• Stockmann division's revenue decreased mainly due to the timing of
  the Crazy Days campaign
• In 2023, Crazy Days was partly ongoing in Q1, while in 2024, the campaign was fully held in Q2

ADJUSTED OPERATING RESULT, M€

-4.1 M€

0

-2

-2.4

-4

-6

-6.5

-8

Q1 2023

Q1 2024

The Crazy Days timing and freight costs declined the Group result

• Lindex division's profitability was negatively affected by higher freight costs due to unexpected logistic challenges in
  the Red Sea
• Stockmann division's adjusted operating result declined due to
  the timing of the Crazy Days campaign
• Currency rates didn't have material impact on the adjusted operating result

Lindex continued to outperform the market

• Sales growth in both physical stores and digital channels with womenswear as the best performing category
• • Strong digital growth of 8.9% and increased digital share 22.9% (21.6)
• Continued to expand market presence with partnerships
• Good progress in ongoing investments
• • Omnichannel distribution centre
  • Digital store programme: RFID fully rolled out in Finland and DC
• Product offering extension within the femtech brand Female Engineering
• Launch of a new brand building kidswear concept

Stockmann improved operational efficiency

• Successful cost savings continued: comparable operating costs -1.6 M€
• Improved gross margin due to good inventory management
• Further enhancing efficiency and simplifying structures, targeted annual savings of 2.7 M€ from 2025 onwards
• • Change negotiations concluded in April
• Successful launch of Kiko Milano cosmetics exclusively in Finland
• Stockmann.com shortlisted for "Online Store of the Year" competition in Finland
• In April, Crazy Days performed better than than in the comparison period

Accelerating climate actions

while growing profitably

-11%	-41%	-11%
Total greenhouse gas	Total greenhouse gas	Less electricity in own
emissions in 2023	emissions since 2017	operations in 2023

Unchanged

Guidance 2024

In 2024, Lindex Group expects its revenue to increase by 1-3% in local currencies compared to 2023.

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.

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