Brief: Stockmann Q3 Adjusted Operating Result Falls To EUR 22.0 Mln

Lindex Oyj

28/10/2022 06:07

Oct 28 (Reuters) - Stockmann Oyj Abp  STOCKA.HE :
    * STOCKMANN GROUP'S INTERIM MANAGEMENT STATEMENT, 1 JANUARY
- 30
SEPTEMBER 2022
    * Q3 STOCKMANN GROUP'S REVENUE INCREASED TO EUR 244.0
MILLION
(237.8), UP BY 4.2% IN LOCAL CURRENCIES
    * GUIDANCE FOR 2022 (UNCHANGED)
    *  Q3 GROSS MARGIN DECREASED TO 56.8% (59.5)
    * Q3 ADJUSTED OPERATING RESULT WAS EUR 22.0 MILLION (32.9)
    * Q3 OPERATING RESULT WAS EUR 6.0 MILLION (32.7)
    * OUTLOOK  2022: STOCKMANN DIVISION WILL CONTINUE TO EXECUTE
RESTRUCTURING PROGRAMME AND LINDEX TO EXPLORE NEW GROWTH
OPPORTUNITIES
    * DURING Q3, GROUP'S CASH FLOW WAS AFFECTED BY SIGNIFICANT
CAPITAL
EXPENDITURE WHEN CONSTRUCTION OF LINDEX'S NEW OMNICHANNEL
WAREHOUSE COMMENCED
    * RESTRUCTURING PROCESS IS PROCEEDING ACCORDING TO PLAN
    * ALL STOCKMAN'S DEPARTMENT STORE PROPERTIES HAVE BEEN SOLD
AND
ALL INTEREST-BEARING DEBT HAS BEEN PAID EXCEPT FOR BOND OF EUR
67.5 MILLION
    * THERE ARE STILL DISPUTED CLAIMS REGARDING TERMINATION OF
LEASE
AGREEMENTS THAT MUST BE SETTLED BEFORE RESTRUCTURING PROCESS CAN
END.
    * BOTH DIVISIONS INCREASED PHYSICAL AND DIGITAL SALES IN
LOCAL
CURRENCIES, THANKS TO HIGHER NUMBER OF VISITORS AND INCREASED
AVERAGE PURCHASES.

Source text for Eikon:  ID:nWkr7J879Y 
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