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Inside information, profit warning: Lindex Group lowers its 2024 guidance for the revenue due to volatility of the fashion market, guidance for the adjusted operating result unchanged

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LINDEX GROUP plc, Inside Information 15.7.2024 at 14:15 EEST

 

Inside information, profit warning: Lindex Group lowers its 2024 guidance for the revenue due to volatility of the fashion market, guidance for the adjusted operating result unchanged

 

Lindex Group plc provides an update to its financial guidance for the full-year 2024. The Group has decided to lower its 2024 guidance for the development of the Group’s revenue. The 2024 guidance regarding the development of adjusted operating result remains unchanged.

 

  • Lindex Group now expects its revenue in local currencies to be in the range of -2% to +2% compared to 2023.
  • Previously Lindex Group expected its revenue to increase by 1–3% in local currencies compared to 2023.
     

The change in revenue guidance is related to the challenging market situation and more specifically, to the volatility of the fashion market on Lindex Group’s main markets.

 

New guidance for 2024:
In 2024, Lindex Group expects its revenue in local currencies to be in the range of -2% to +2% 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.

 

Previous guidance for 2024, published on 9 February 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.

 

Lindex Group will publish its Half-year financial report on 19 July 2024. Due to the silent period, the Group will not give any further comments on its result before publishing the Half-year financial report. Lindex Group will hold a live webcast for analysts and media on the day of the results release. The participants will have an opportunity to ask questions from the Group management during the webcast.

 

LINDEX GROUP plc

 

Susanne Ehnbåge
CEO

 

Further information:
Lindex Group’s MediaDesk tel. +358 50 389 0011
investor.relations@stockmann.com

 

Distribution:
Nasdaq Helsinki,
Principal media

 

Lindex Group plc is an international multichannel retail group with two divisions: Lindex and Stockmann. Lindex is a global fashion company with a purpose to empower and inspire women everywhere. Its three strong categories include women’s and kids’ wear as well as lingerie, where it is a market leader in the Nordics. Stockmann is a premium multi-brand retailer with department stores in Finland and the Baltics. Its purpose is to be a marketplace for a good life. In 2023, the Lindex Group’s revenue was EUR 952 million and it had some 5 800 employees. The Group’s roots lie in the Stockmann company founded in 1862 and its shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.lindex-group.com

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