3 March 2022
The Weekly
Finland

Stockmann has reported 2021 and fourth-quarter results and said it was a year of “a strong turnaround”, with both divisions buoyant in Q4 and Lindex achieving its best-ever full-year figures.

October–December 2021:

- Consolidated revenue was €277.5mn, up 17.2% in comparable currency rates.

- Gross margin was 57.7%.

- Operating result was €50.6mn.

- The adjusted operating result was €29.6mn.

- Earnings per share were €0.23.

- Adjusted earnings per share were €0.09.

January–December 2021:

- Consolidated revenue was €899.0mn, up 11.2% in comparable currency rates.

- Gross margin was 58.6%.

- Operating result was €82.1mn.

- The adjusted operating result was €68.3mn.

- Earnings per share were €0.42.

- Adjusted earnings per share were €0.30.

Stockmann Group’s fourth quarter was strong despite the continuing COVID-19 pandemic. The adjusted operating result improved by €32.9mn. The full-year adjusted operating result improved by €80.5mn as a consequence of agile adaptation to the COVID-19 situation, enhanced sales and strong marketing activities.

Lindex performed extremely well and the adjusted operating result for the fourth quarter improved by €9.4mn. The adjusted operating result for the full-year 2021 was Lindex’s best result ever and amounted to €80.3mn. The Stockmann division also had a good fourth quarter. The adjusted operating result improved by €23.8mn. The full-year adjusted operating result improved by €38.3mn, but still remains negative due to the challenging first half of the year. 

Stockmann Group continued the determined implementation of the strategy by renewing channels, enhancing presence in the markets and developing the offering and service. Additionally Lindex invested in the femtech industry to create new business and growth opportunities within products to improve women’s well-being through the various stages of life. The Stockmann division started an extensive renewal of its operating model, through which the organisation will be centred more closely around the core process. The purpose of the renewal is to improve customer experience and streamline processes.

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