Lindex Group (LINDEX) Q1 2026 earnings summary

Executive summary

• Revenue increased by 3.7% year-over-year to EUR 193 million, with Lindex division up 5.8% and Stockmann stable in comparable terms; profitability was impacted by higher costs and transition to the new omnichannel distribution center.

• Adjusted operating result declined to EUR -11.9 million, mainly due to transition costs and higher depreciations from the new omnichannel distribution center.

• Lindex completed the transition to a new automated warehouse, which temporarily impacted digital sales and costs.

• Stockmann achieved its eighth consecutive quarter of profitability improvement, driven by cost efficiency, strong fashion sales, and successful brand launches.

• Sustainability progress: 91% of Lindex materials are recycled or sustainably sourced, exceeding interim targets.

Financial highlights

• Lindex division revenue: EUR 133.7 million, up 5.8% year-over-year; physical store sales up 5.2%.

• Group gross margin improved to 58.5% from 57.4% year-over-year.

• Net result declined to EUR -20.3 million; EPS at EUR -0.12.

• Operating free cash flow was EUR -59.1 million, impacted by seasonality and capital expenditures.

• Inventories decreased to EUR 186.4 million from EUR 202.6 million, mainly due to clearance sales.

Outlook and guidance

• Revenue in local currencies expected to grow in 2026 compared to 2025; adjusted operating result guidance: EUR 70–95 million.

• Full benefits of the new distribution center, including EUR 10 million annualized EBITDA savings, expected from H2 2026.

• Foreign exchange fluctuations and macroeconomic volatility may significantly affect results.