October-
- Consolidated revenue was
- Gross margin was 56.6% (55.6).
- Operating result was
- Adjusted operating result was
- Earnings per share were
- Adjusted earnings per share were
January-
- Consolidated revenue was
- Gross margin was 56.3% (56.9).
- Operating result was
- Adjusted operating result was
- Earnings per share were
- Adjusted earnings per share were
The Board of Directors will propose that no dividend be paid for the financial year 2019.
The Group's 2019 figures include changes due to IFRS 16. Comparison figures for 2018 are not restated. The IFRS 16 items are presented in the table "Impact of IFRS 16".
Guidance for 2020:
CEO
In 2019 major changes took place in
Revenue in 2019 was
Lindex had a strong full-year result with increased profitability in all markets, sales channels and business areas. During the fourth quarter, Lindex's adjusted operating profit improved due to good gross margin development and cost control. In August,
In 2019 we made several significant organisational and business decisions that contributed to lower revenue. The
In 2020 we will work decisively towards our main
Continuing operations 10-12/ 10-12/ 1-12/ 1-12/
2019 2018 2019 2018
Revenue, EUR mill. 285.7 304.5 960.4 1 018.8
Gross margin, % 56.6 55.6 56.3 56.9
EBITDA, EUR mill. 57.2 36.2 153.0 76.0
Adjusted EBITDA, EUR mill. 62.8 37.5 168.6 84.3
Operating result (EBIT), EUR 22.4 -2.8 13.3 -5.0
mill.
Adjusted operating result (EBIT), 28.0 23.5 29.0 28.4
EUR mill.
Net financial items, EUR mill. -12.3 -9.2 -52.7 -34.6
Result before tax, EUR mill. 10.1 -12.0 -39.3 -39.6
Result for the period, EUR mill. 1.9 -7.0 -54.3 -43.7
Earnings per share, -0.01 -0.12 -0.84 -0.68
undiluted and diluted, EUR
Personnel, average 6 924 7 191 7 002 7 241
Continuing and discontinued 10-12/ 10-12/ 1-12/ 1-12/
operations 2019 2018 2019 2018
Net earnings per share, -0.01 -0.14 -0.84 -0.70
undiluted and diluted, EUR
Cash flow from operating 69.9 82.1 102.3 82.9
activities, EUR mill.
Capital expenditure, EUR mill. 9.6 8.2 33.8 29.3
Equity per share, EUR 11.12 11.71
Net gearing, % 112.4 64.5
Equity ratio, % 38.1 46.2
Number of shares, undiluted and 72 049 72 049
diluted, weighted average, 1 000
pc
Return on capital employed, 0.9 -0.4
rolling 12 months, %
ITEMS AFFECTING COMPARABILITY
EUR million 10-12/ 10-12/ 1-12/ 1-12/
2019 2018 2019 2018
EBITDA 57.2 36.2 153.0 76.0
Adjustments to EBITDA
Restructuring and transformation measures 5.8 0.1 15.2 3.3
Gain or loss on sale of properties -0.3 0.1 0.4 -6.8
Value adjustment to assets held for sale 1.1 11.9
Adjustments total 5.5 1.3 15.6 8.4
Adjusted EBITDA 62.8 37.5 168.6 84.3
EUR million 10-12/ 10-12/ 1-12/ 1-12/
2019 2018 2019 2018
Operating result (EBIT) 22.4 -2.8 13.3 -5.0
Adjustments to EBIT
Restructuring and transformation measures 5.8 0.1 15.2 3.3
Gain or loss on sale of properties -0.3 0.1 0.4 -6.8
Value adjustment to assets held for sale 1.1 11.9
Adjustments total 5.5 26.3 15.6 33.4
Adjusted operating result (EBIT) 28.0 23.5 29.0 28.4
IMPACT OF IFRS 16
EUR million, Reported IFRS Excluding IFRS 16 items Reported
quarterly 10-12/201 16 10-12/2019 10-12/2018
9 items
10-12/2
019
Revenue 285.7 -0.5 286.2 304.5
EBITDA 57.2 24.5 32.8 36.2
Adjusted EBITDA 62.8 24.5 38.3 37.5
Depreciation 34.8 20.3 14.5 13.9
Operating result 22.4 4.2 18.3 -2.8
(EBIT)
Adjusted 28.0 4.2 23.8 23.5
operating result
(EBIT)
Net financial -12.3 -6.2 -6.0 -9.2
items
Net result 1.9 -1.6 3.5 -8.4
Cash flow from 69.9 18.2 51.7 82.1
operating
activities
EUR million, YTD Reported IFRS 16 Excluding IFRS Reported
1-12/2019 items 16 items 1-12/2018
1-12/2019 1-12/2019
Revenue 960.4 -2.1 962.6 1 018.8
EBITDA 153.0 100.0 53.0 76.0
Adjusted EBITDA 168.6 100.0 68.6 84.3
Depreciation 139.6 83.9 55.7 55.9
Operating result 13.3 16.1 -2.8 -5.0
(EBIT)
Adjusted 29.0 16.1 12.9 28.4
operating result
(EBIT)
Net financial -52.7 -26.1 -26.6 -34.6
items
Net result -54.3 -7.9 -46.4 -45.2
Assets 2 103.2 505.5 1 597.7 1 827.9
Interest-bearing 900.2 512.8 387.4 543.6
net debt
Cash flow from 102.3 73.9 28.4 82.9
operating
activities
STRATEGY
Lindex's aim is to further strengthen international growth and in particular digital transformation. Lindex has a strong market position in the Nordics, with a rapidly growing e-commerce business through its own channels and together with global online partners, well-performing flexible store network, and improving profitability. As stated earlier
The
Both
The
As of
In 2019
OUTLOOK FOR 2020
We expect that the uncertainties in the global economy will remain during 2020. In 2020, the GDP in
The rejuvenation programme in
Capital investment projects will be reviewed and decided throughout the year, the total planned capital expenditure amounts to approximately
CORPORATE GOVERNANCE STATEMENT
Financial Statements Bulletin 2019
This company announcement is a summary of the
Annual General Meeting 2020
The Annual General Meeting of
Press and analyst briefing and webcast
A press and analyst briefing will be held today, on
Further information:
www.stockmanngroup.com
CEO
Distribution:
Nasdaq
Principal media
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