Stockmann Group’s restated comparison data for 2016 and 2017
STOCKMANN plc, Inside Information 10.8.2017 at 9:35 EET
Stockmann signed in June an agreement on the sale of the Stockmann Delicatessen operations in Finland to S Group’s regional cooperatives. If approval from the Finnish Competition and Consumer Authority is granted during 2017, the transaction can be completed on 31 December 2017. As a consequence, the Stockmann Delicatessen food operations in Finland have been classified as assets held for sale and reported as discontinued operations. The Delicatessen in the Baltic countries will remain with Stockmann and is reported as a part of Stockmann Retail’s continuing operations.
The change will be in effect from the half year report 2017 onwards and it has effect only on the Stockmann Retail segment. The comparison figures for continuing operations in the income statement and related items are restated accordingly. The restated comparison figures for 2016 and for the first quarter of 2017 are presented in the adjoining tables. The figures are unaudited.
Stockmann will publish its half year report 2017 on 16 August 2017.
Restated consolidated income statement:
| EUR mill. | 1-3/2017 | 1-3/2016 | 1-6/2016 | 1-9/2016 | 1-12/2016 |
| Continuing operations | |||||
| REVENUE | 216.9 | 243.2 | 563.9 | 827.8 | 1175.7 |
| Other operating income | 0.0 | 0.0 | 0.6 | 1.2 | 1.2 |
| Materials and consumables | -101.2 | -114.8 | -252.3 | -366.7 | -520.4 |
| Wages, salaries and employee benefit expenses | -58.4 | -70.6 | -141.4 | -201.8 | -270.4 |
| Depreciation, amortisation and impairment losses | -15.0 | -13.5 | -28.0 | -42.1 | -57.3 |
| Other operating expenses | -67.4 | -70.6 | -151.6 | -222.4 | -300.6 |
| Total expenses | -242.0 | -269.5 | -573.4 | -833.1 | -1148.7 |
| OPERATING PROFIT/LOSS | -25.1 | -26.4 | -8.9 | -4.1 | 28.3 |
| Financial income | 0.6 | 0.4 | 0.7 | 0.9 | 0.8 |
| Financial expenses | -5.2 | -4.7 | -9.6 | -14.9 | -23.9 |
| Total financial income and expenses | -4.6 | -4.3 | -8.9 | -14.0 | -23.1 |
| PROFIT/LOSS BEFORE TAX |
-29.7 | -30.6 | -17.8 | -18.0 | 5.2 |
| Income taxes | 2.8 | 3.0 | -5.2 | -10.4 | -12.7 |
| PROFIT/LOSS FROM CONTINUING OPERATIONS |
-26.9 | -27.6 | -23.0 | -28.4 | -7.5 |
| Profit/loss from discontinued operations | -2.7 | 6.4 | 0.1 | -1.7 | 4.3 |
| NET PROFIT/LOSS FOR THE PERIOD |
-29.6 | -21.2 | -22.9 | -30.1 | -3.2 |
| Profit/loss for the period attributable to: | |||||
| Equity holders of the parent company | -29.6 | -21.2 | -22.9 | -30.1 | -3.2 |
| Earnings per share, EUR: | |||||
| From continuing operations (undiluted and diluted) | -0.39 | -0.40 | -0.36 | -0.45 | -0.18 |
| From discontinued operations (undiluted and diluted) | -0.04 | 0.09 | 0.00 | -0.02 | 0.06 |
| From the period result (undiluted and diluted) | -0.43 | -0.31 | -0.35 | -0.47 | -0.12 |
Restated Group’s operating segments:
| Revenue | 1-3/2017 | 1-3/2016 | 1-6/2016 | 1-9/2016 | 1-12/2016 |
| EUR mill. | |||||
| Lindex | 123.2 | 130.2 | 305.8 | 461.9 | 633.2 |
| Stockmann Retail | 83.7 | 105.2 | 241.9 | 341.1 | 508.3 |
| Real Estate | 17.0 | 14.8 | 29.6 | 44.5 | 60.1 |
| Unallocated | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Eliminations | -7.0 | -7.1 | -13.4 | -19.7 | -25.8 |
| Group total | 216.9 | 243.2 | 563.9 | 827.8 | 1175.7 |
| Reconciliation to the reported revenue: | |||||
| Delicatessen food operations classified as discontinued operations | 25.8 | 30.0 | 62.0 | 87.0 | 127.4 |
| Reported Group total | 242.7 | 273.1 | 625.9 | 914.7 | 1303.2 |
| Operating profit/loss | 1-3/2017 | 1-3/2016 | 1-6/2016 | 1-9/2016 | 1-12/2016 |
| EUR mill. | |||||
| Lindex | -14.7 | -8.5 | 19.6 | 35.3 | 54.9 |
| Stockmann Retail | -14.7 | -21.3 | -35.5 | -51.6 | -39.1 |
| Real Estate | 6.4 | 6.0 | 11.4 | 16.5 | 21.1 |
| Unallocated | -2.1 | -2.6 | -4.5 | -4.2 | -8.6 |
| Group total | -25.1 | -26.4 | -8.9 | -4.1 | 28.3 |
| Reconciliation to the reported operating profit/loss: | |||||
| Delicatessen food operations classified as discontinued operations | -2.7 | -4.0 | -10.3 | -12.2 | -10.7 |
| Reported Group total | -27.8 | -30.3 | -19.2 | -16.3 | 17.6 |
Restated information per quarter:
| Revenue | 1-3/2017 | 1-3/2016 | 4-6/2016 | 7-9/2016 | 10-12/2016 |
| EUR mill. | |||||
| Lindex | 123.2 | 130.2 | 175.6 | 156.1 | 171.3 |
| Stockmann Retail | 83.7 | 105.2 | 136.7 | 99.2 | 167.1 |
| Real Estate | 17.0 | 14.8 | 14.7 | 14.9 | 15.7 |
| Unallocated | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Eliminations | -7.0 | -7.1 | -6.4 | -6.3 | -6.1 |
| Group total | 216.9 | 243.2 | 320.7 | 263.9 | 348.0 |
| Reconciliation to the reported revenue: | |||||
| Delicatessen food operations classified as discontinued operations | 25.8 | 30.0 | 32.0 | 25.0 | 40.5 |
| Reported Group total | 242.7 | 273.1 | 352.7 | 288.9 | 388.4 |
| Operating profit/loss | 1-3/2017 | 1-3/2016 | 4-6/2016 | 7-9/2016 | 10-12/2016 |
| EUR mill. | |||||
| Lindex | -14.7 | -8.5 | 28.1 | 15.7 | 19.6 |
| Stockmann Retail | -14.7 | -21.3 | -14.2 | -16.1 | 12.5 |
| Real Estate | 6.4 | 6.0 | 5.4 | 5.1 | 4.6 |
| Unallocated | -2.1 | -2.6 | -1.8 | 0.2 | -4.4 |
| Group total | -25.1 | -26.4 | 17.5 | 4.8 | 32.3 |
| Reconciliation to the reported operating profit/loss: | |||||
| Delicatessen food operations classified as discontinued operations | -2.7 | -4.0 | -6.3 | -1.9 | 1.5 |
| Reported Group total | -27.8 | -30.3 | 11.1 | 2.9 | 33.8 |
Further information:
Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558
STOCKMANN plc
Lauri Veijalainen
CEO
Distribution:
Nasdaq Helsinki
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