Lindex Group's Half-year Financial Report 1 January-30 June 2026

Lindex Group delivered strong adjusted operating result and revenue growth during the second quarter

LINDEX GROUP plc, Half-year financial report 17.7.2026 at 8:30 EEST

Lindex Group’s Half-year Financial Report 1 January–30 June 2026

Lindex Group delivered strong adjusted operating result and revenue growth during the second quarter

April–June 2026:

• Lindex Group’s revenue increased by 2.2% to EUR 259.5 (253.9) million and by 1.2% in local currencies.
  - The Lindex division’s revenue increased by 4.2% to EUR 179.6 (172.3) million and by 2.8% in local currencies.
  - The Stockmann division’s revenue was EUR 80.0 (81.7) million but grew in comparable terms.
• The Group’s gross margin improved to 61.3% (58.0).
• The Group’s adjusted operating result increased to EUR 30.5 (22.2) million.
  - The Lindex division’s adjusted operating result increased to EUR 30.2 (22.8) million, mainly due to improved gross profit.
  - The Stockmann division’s adjusted operating result improved to EUR 1.5 (0.2) million, driven by increased gross profit and lower operating costs.

• Operating result increased to EUR 30.0 (25.5) million.
• Net result was EUR 15.8 (13.1) million.
• Basic and diluted earnings per share were EUR 0.09 (0.08).

January–June 2026:

• Lindex Group’s revenue increased by 2.8% to EUR 452.4 (439.9) million and by 1.1% in local currencies.
  - The Lindex division’s revenue increased by 4.9% to EUR 313.3 (298.6) million and by 2.3% in local currencies.
  - The Stockmann division’s revenue was EUR 139.3 (141.5) million but grew in comparable terms.
• The Group’s gross margin improved to 60.1% (57.8).
• The Group’s adjusted operating result increased to EUR 18.5 (13.5) million.
  - The Lindex division’s adjusted operating result increased and was EUR 25.9 (22.5) million mainly due to increased gross profit.
  - The Stockmann division’s adjusted operating result improved to EUR -4.8 (-7.1) million, driven by increased gross profit and lower operating costs.

• Operating result was EUR 16.8 (15.9) million.
• Net result was EUR -4.5 (-7.1) million.
• Basic and diluted earnings per share were EUR -0.03 (-0.04).

Guidance for 2026 (unchanged):
In 2026, Lindex Group expects its revenue to grow in local currencies compared to 2025. The Group’s adjusted operating result is estimated to be EUR 70−95 million. Foreign exchange rate fluctuations may have a significant effect on the adjusted operating result.

Market outlook for 2026:
The macroeconomic situation in Lindex Group’s main markets has continued to be volatile as geopolitical uncertainty and the risks for global trade disturbances have remained elevated. Potential unexpected or prolonged negative developments, such as higher energy prices resulting from increased geopolitical tensions, could add to inflationary pressures and slow economic growth in the Group’s key markets. While GDP (Gross Domestic Product) growth forecasts for 2026 remain modest in the Group's key markets, the outlook continues to be uncertain. Consumer confidence remains fragile, although signs of gradual improvement were visible towards the end of the quarter. The situation may vary across the Group’s different markets, and disruptions in supply chains and international logistics during the year cannot be excluded.

CEO Susanne Ehnbåge:
The second quarter was characterised by solid progress across the Group, with revenue growth, improved gross margin and a significantly stronger adjusted operating result compared to the previous year.I am very pleased with the positive customer response to our attractive offering and the good execution of our strategic initiatives. While the market environment remained challenging, our disciplined focus on profitability supported a strong performance in both divisions. We maintain our full-year guidance and remain well positioned to continue executing our strategy and delivering long-term value.

The Group reported revenue growth of 2.2% with the Lindex division increasing its revenue by 4.2%. The development was supported by a well-received customer offering and successful commercial execution. Revenue in the Stockmann division declined marginally, but comparable revenue showed a slight increase. Despite the cautious consumer sentiment and the challenging market environment in our main markets, the fashion market development supported both divisions. We saw some encouraging signs of improving confidence towards the end of the quarter, particularly in Finland and Sweden. The number of active loyal customers increased in both divisions.

The Group’s adjusted operating result improved to EUR 30.5 (22.2) million. Lindex division’s adjusted operating result increased and was EUR 30.2 (22.8) million, mainly driven by increased gross profit and disciplined cost management. The progress of Stockmann division’s result improvement continued and the adjusted operating result stood at EUR 1.5 (0.2) million, supported by the strong performance of the fashion category, firm margin management and targeted efficiency measures.

The transition phase of the Lindex division’s new omnichannel distribution centre to reach full operations progressed during the second quarter. While the transition continued to impact digital sales compared to the previous year, operations remained stable and at the end of the quarter, the focus shifted from stabilisation of operations to optimising them. The first efficiency improvements have been achieved, marking an important milestone in the development of this strategically important facility. We remain focused on realising the long-term benefits of increased efficiency, cost savings and future growth opportunities enabled by the new distribution centre. At the end of the reporting period, the related property development plan was completed, and the facility is now fully owned by Lindex.

During the reporting period, the Lindex division continued to advance its international growth journey by expanding its physical presence and strengthening the strategic partnerships. In Denmark, we signed an agreement to open our third store, in Aarhus in October, and continued strengthening our partnership with Magasin du Nord to reach new customers. In Iceland, we opened two new stores in Reykjavik, further strengthening our Nordic presence and making the Lindex brand more accessible across markets.

I am pleased that our financial position improved year-on-year, with solid liquidity and a stronger equity ratio. These developments underline our ability to invest in growth and navigate market uncertainty with confidence.

I would like to sincerely thank our employees, customers, shareholders and partners for their commitment and collaboration during the first half of 2026. We remain focused on driving growth across markets and channels, strengthening customer relationships and continuing to execute our strategy with discipline. As we enter the second half of the year, we do so from a stronger position, while remaining mindful of the continued uncertainty in the market.

KEY FIGURES

ITEMS AFFECTING COMPARABILITY (IAC)

STRATEGY

Lindex Group’s two divisions, Lindex and Stockmann, have their own strategies targeting sustainable and profitable growth. The divisions share the view that customer-centricity, an omnichannel approach and strong brands are key strategic factors in building future growth. Lindex Group has ambitious sustainability targets, and sustainability is a central part of the Group’s operations.

The Lindex division’s strategy builds on Lindex’s purpose of driving meaningful change for women. The division’s three strategic must-win areas are to accelerate growth, transform into a sustainable business, and decouple cost from growth.

The Stockmann division’s customer-centric strategy builds on Stockmann’s purpose of being a marketplace for a good life. The Stockmann division has four strategic must-win areas, which are to improve operational efficiency, differentiate through curated offering, grow and leverage loyal customer base and optimise omnichannel performance.

Both divisions are committed to Lindex Group’s science-based climate target to reduce greenhouse gas emissions from energy and industrial sources in its own operations and value chain by 42% by 2030 compared to the year 2022. The Group is also committed to reducing absolute Scope 3 greenhouse gas FLAG (Forest, Land, Agriculture) emissions by 30.3% by 2030 compared to the year 2022. The Science Based Targets initiative (SBTi) has validated and approved the Group’s climate target.

STRATEGIC ASSESSMENT

In September 2023, Lindex Group’s Board of Directors initiated a strategic assessment aiming to crystallise shareholder value by refocusing the Group's business on Lindex. As part of the investigation of strategic alternatives for Stockmann’s department stores business, the Board is evaluating the best environment for developing the business in the future. These options include increasing the business’ independence within the Group, considering possible ownership changes or strategic partnerships, or continuing under the current structure.

In December 2025, Lindex Group announced that its Board of Directors continues the strategic assessment and the Group will communicate the outcome of this work when appropriate.

Half-year Financial Report
This company announcement is a summary of the Lindex Group’s Half-year Financial Report 1 January–30 June 2026 and includes the most relevant information of the report. The complete report is attached to this release as a pdf file and is also available on the company's website lindexgroup.com.

Financial releases in 2026
The financial reports will be released in 2026 as follows:
- Interim Report, January–September 2026: 22 October 2026

Webcast for analysts and the media
A media and analyst briefing will be held in English as a live webcast today, on 17 July 2026 at 10:00 a.m. EEST. The event can be followed via this link. The recording and presentation material will be available on the company’s website after the event.

Helsinki, 16 July 2026

LINDEX GROUP plc
Board of Directors

Further information:
Susanne Ehnbåge, CEO
Henrik Henriksson, CFO
Contact via Lindex Group’s MediaDesk info@stockmann.com, tel. +358 50 389 0011
Marja-Leena Dahlskog, Head of Communications & IR, tel. +358 50 502 0060

Lindex Group plc is an international multichannel retail group with two divisions: Lindex and Stockmann. Lindex is a global fashion company with a purpose to drive meaningful change for women. Its three strong categories include women’s and kids’ wear as well as lingerie, where it is a market leader in the Nordics. Stockmann is a premium multi-brand retailer with department stores in Finland and the Baltics. Its purpose is to be a marketplace for a good life. In 2025, the Lindex Group’s revenue was EUR 952 million and it had some 5 940 employees. The Group’s roots lie in the Stockmann company founded in 1862 and its shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.lindexgroup.com