Inside information, profit warning: Stockmann specifies its 2023 guidance for the development of the Group’s revenue and increases its guidance for the adjusted operating result

Stockmann plc, Inside information, 10.11.2023 at 15:15 EET

Inside information, profit warning: Stockmann specifies its 2023 guidance for the development of the Group’s revenue and increases its guidance for the adjusted operating result

Stockmann specifies its 2023 guidance for the development of the Group’s revenue and increases its guidance for the adjusted operating result. The Group expects its revenue to be in the range of EUR 940–970 million and adjusted operating result to be EUR 75–90 million in 2023, subject to foreign exchange rate fluctuation.

Previously, Stockmann expected the Group’s revenue to be in the range of EUR 940–1,000 million and the Group’s adjusted operating result to be EUR 65–85 million, subject to foreign exchange rate fluctuation.

The change in expected revenue is related to the negative exchange rate impact due to the weak Swedish krona and the Norwegian krone. In local currencies, the revenue is developing in line with the Group’s previous guidance updated in July 2023.

The increase in expected adjusted operating result is due to the strong current performance of the Lindex division, with the Stockmann division’s performance being in line with the Group’s previous guidance updated in July 2023.

New guidance for 2023:
In 2023, Stockmann expects the Group’s revenue to be in the range of EUR 940–970 million and the Group’s adjusted operating result to be EUR 75–90 million, subject to foreign exchange rate fluctuation. The guidance is based on the assumption that the continuing high inflation will increase costs from 2022 and have an adverse impact on consumer demand. At the same time, the Stockmann Group continues taking firm measures to minimise the impacts of cost increases.

Previous guidance for 2023:
In 2023, Stockmann expects the Group’s revenue to be in the range of EUR 940–1,000 million and the Group’s adjusted operating result to be EUR 65–85 million, subject to foreign exchange rate fluctuation. The guidance is based on the assumption that the continuing high inflation will increase costs from 2022 and have an adverse impact on consumer demand. At the same time, the Stockmann Group continues taking firm measures to minimise the impacts of cost increases.

Further information:
Annelie Forsberg, CFO,
via Stockmann Group’s media desk tel. +358 50 389 0011
[email protected]         

STOCKMANN plc

Susanne Ehnbåge
CEO

Distribution:
Nasdaq Helsinki
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