Department store group Stockmann presented its financial statements for 2023 on Friday. In the last quarter of 2023, turnover increased to 274.3 million euros from the comparison period’s 272.6 million euros.
In the full year 2023, the company’s turnover decreased to 951.7 million euros from 981.7 million euros, but in local currencies it is still an increase.
The adjusted operating profit for the full year amounted to EUR 80.0 million. Also, a slight improvement from 79.8 million euros in 2022.
Ehnbåge is pleased that the company is managing to improve the numbers despite the weak krona. According to the company, exchange rates had a negative impact of EUR 5.7 million on the adjusted operating profit.
“However, the improvement in local currencies was considerable. The Lindex division outperformed average market growth, and adjusted operating profit hit an all-time high,” she says.
The board will propose that no dividend be paid for the accounting period 2023.
No decision on the name change
There was some hope that the company would mention something about the name change in its year-end report in 2023, but the company did not provide any information.
The decision will be made at a later time, the company writes. Stockmann expects the strategic evaluation to be completed this year.