Lindex Group (LINDEX) Q3 2025 earnings summary

Executive summary

• Revenue increased by 2.5% year-over-year to €227.6 million, with Lindex up 3.8% and Stockmann stable after adjustments for store closure and category transfer.

• Adjusted operating result improved to €16.6 million from €15.8 million, driven by efficiency gains in Stockmann and despite supply limitations in Lindex.

• Stockmann achieved its first positive rolling 12-month adjusted operating result in years, with six consecutive quarters of improvement and digital sales up 14%.

• The restructuring program was completed in August 2025, removing operational restrictions and positioning the group for long-term growth.

• Strategic assessment to focus on Lindex continues, with decisions on Stockmann alternatives expected in Q4 2025.

Financial highlights

• Group revenue rose to €227.6 million from €222.1 million year-over-year; gross margin was 58% (vs. 58.2% prior year).

• Adjusted operating result improved to €16.6 million; net result increased to €1.9 million; EPS at €0.01.

• Lindex division revenue reached €165.4 million (+3.8%), Stockmann division €62.4 million (flat, but up on comparable basis).

• Lindex gross margin declined to 62.7% due to higher promotions; Stockmann gross margin improved to 45.5%.

• Cash and cash equivalents at end of September: €53.6 million (vs. €65.9 million prior year).

Outlook and guidance

• Full-year 2025 revenue in local currencies expected to grow 0–2% versus 2024; adjusted operating result estimated at €70–80 million.

• Guidance reflects anticipated gradual recovery in consumer confidence and improved stock availability.

• Foreign exchange fluctuations may significantly impact results.