Lindex Group (LINDEX) Q4 2025 earnings summary

Executive summary

• Revenue and adjusted operating result increased in Q4 2025, with both divisions outperforming the fashion market in key regions despite low consumer confidence and challenging market conditions.

• Lindex division saw revenue and adjusted operating profit growth, driven by both physical and digital channels, and expanded into Denmark.

• Stockmann achieved its first full-year positive adjusted operating result after several years, with ongoing profitability improvements.

• Strategic investments included the completion of the omnichannel distribution center and the opening of the first Lindex-owned store in Denmark.

• The group completed its restructuring program in August 2025, and the evaluation of strategic alternatives for the Stockmann business continues.

Financial highlights

• Q4 2025 group revenue: EUR 284.7 million, up 4% year-over-year; Lindex division Q4 revenue up 7.6% to EUR 181.9 million.

• Q4 adjusted operating result: EUR 39.4 million, up EUR 3.3 million year-over-year.

• Full-year 2025 revenue: EUR 952.3 million, up 1.3%; adjusted operating result: EUR 69.5 million, down due to higher depreciations.

• Lindex division full-year adjusted operating result: EUR 72.1 million; Stockmann division: EUR 1.2 million.

• Q4 net result: EUR 29.6 million; earnings per share: EUR 0.19.

Outlook and guidance

• 2026 revenue in local currencies expected to grow compared to 2025; adjusted operating result estimated between EUR 70 million and EUR 95 million.

• Foreign exchange fluctuations may significantly impact results.

• Lindex to focus on accelerating growth, digital transformation, and sustainability; Stockmann to prioritize operational efficiency and loyalty program enhancements.

• Macroeconomic volatility and geopolitical risks remain, but GDP growth and consumer confidence are forecast to improve in key markets.