Lindex’s operating result* for 2022 amounted to 875 MSEK, which is an increase by 27 per cent compared to previous year and 156 per cent compared to 2019, before the pandemic (690 MSEK 2021, 340 MSEK 2019). Lindex’s operating result* for the fourth quarter 2022 amounted to 230 MSEK (226 MSEK 2021, 153 MSEK 2019).
‘2022 was a disruptive year in many ways, with great uncertainty and many challenges like increased purchase and freight prices, a historically high US dollar and inflation. Despite the challenging world around us, we succeeded to take Lindex to new levels and deliver our strongest annual result and reach over 7 billion in revenue, which is a big milestone. I’m very proud of all Lindex’s fantastic employees who with their big customer focus, engagement and dedicated efforts have enabled our successful development, where we have grown both sustainably and profitably’, says CEO Susanne Ehnbåge.
Lindex’s sales for 2022 increased by 14.1 per cent which means that the fashion company’s revenue exceeds SEK 7.0 billion for the year. Compared to 2019, sales increased by 15.6 per cent and Lindex shows a better sales growth than the market for all Nordic sales countries. The sales for the fourth quarter increased by 4.5 per cent and compared to the same period 2019 the sales increased by 11.0 per cent.
The fashion company continued to increase its growth in physical stores with an increase of 13.6 per cent during the year. The digital sales decreased by 0.7 per cent and amounted to 18.5 per cent of the total sales.
‘We increase our sales on all markets and for all business areas, where underwear increases the most with a growth of 20 per cent during the year. We have strong digital sales while we at the same time continue our fine growth in our physical stores, which is great to see. During the year we have attracted over 1 million new customers and we now have a total of over 5.7 million registered customers, which is a great receipt of Lindex’s strong brand. This gives us a fantastic opportunity to continue deepen our customer knowledge and further develop our offer based on insights and our customers’ needs’, says Susanne Ehnbåge.
During the year, Lindex has continued to take important steps in its transformation to a more sustainable business. Lindex is growing in new ways where circular business models and the continuous development of its customer offer with new services are important parts in the fashion company’s transformation.
‘Creating sustainable growth and further develop our offer with the customer’s needs in focus are central parts to us. During the past year, we have entered the femtech market and successfully launched our new brand Female Engineering and our first femtech products. Furthermore, we have scaled up our secondhand offer to include all kidswear, opened a pop-up store and initiated a test pilot online, which gives us valuable insights into how the business model can be developed to secure long-term scalability and profitability. Another important step in our transformation to a more sustainable and circular assortment is our investment in our new viscose fibre based on OnceMore®, a unique, innovative process for large scale textile recycling of blended materials. We are in a transformation and have high ambitions to grow both sustainably and profitably where our strategic investments and digital development are crucial on our way forward’, says Susanne Ehnbåge.
*Lindex's operating result is reported excluding IFRS16 leasing agreements.