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"2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "ID_303": { "value": "3400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_267A": { "value": "3400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:OtherComprehensiveIncomeNetOfTaxCashFlowHedges", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_312": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ID_313": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "lindex:ReserveForInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "ID_314": { "value": "3400000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "ID_315": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ID_316": { "value": 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"concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "ID_271A": { "value": "-500000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ComprehensiveIncome", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_323": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "lindex:ReserveForInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "ID_324": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_325": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IssueOfEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_329": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ID_330": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_331": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_345": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ID_346": { "value": "2600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "lindex:ReserveForInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "ID_347": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfCashFlowHedgesMember", "unit": "iso4217:EUR" } }, "ID_348": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember", "unit": "iso4217:EUR" } }, "ID_349": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember", "unit": "iso4217:EUR" } }, "ID_350": { "value": "300000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember", "unit": "iso4217:EUR" } }, "ID_351": { "value": "3000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember", "unit": "iso4217:EUR" } }, "ID_352": { "value": "0.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember", "unit": "iso4217:EUR" } }, "ID_353": { "value": "3000000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseThroughTransfersAndOtherChangesEquity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2024-01-01T00:00:00/2025-01-01T00:00:00", "unit": "iso4217:EUR" } }, "ID_283A": { "value": "77600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember", "unit": "iso4217:EUR" } }, "ID_284A": { "value": "78600000.0", "decimals": -5, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00", "ifrs-full:ComponentsOfEquityAxis": "lindex:ReserveForInvestedUnrestrictedEquityMember", "unit": "iso4217:EUR" } }, "ID_285A": { "value": 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Basis of
preparation
1.1
Corporate information
The consolidated
financial statements
of
Lindex Group plc
and its subsidiaries
(collectively
Lindex Group
or the Group)
for the year
ended 31 December
2025
were
authorised
for issue in
accordance
with a resolution
of the Board
of Directors
on 26
February 2026.
Lindex Group plc
(the company)
is a public
listed company
and the ultimate
parent of
Lindex Group.
The company is incorporated in Finland
and domiciled
in Helsinki,
Finland
.
The registered office is located at Aleksanterinkatu 52, 00100 Helsinki.
The company\u2019s
primary field of business is retail and its principal place of business is Finland.
The parent
company\u2019s
shares are
listed on the
Helsinki exchange
(Nasdaq Helsinki
Ltd).
A copy of the consolidated financial statements is available at www.lindexgroup.com
or
from the parent company.
General
Lindex Group\u2019s
consolidated
financial statements
have been
prepared in
accordance
with
IFRS Accounting
Standards, complying
with the IAS
and IFRS standards
and IFRIC
and
SIC interpretations
in force on
31 December
2025. In the
Finnish accounting
legislation
and the regulations
issued pursuant
to it, IFRS
Accounting
Standards
refer to the
standards
and their interpretations
that have
been approved
for application
in the EU
in
accordance
with the procedure
stipulated
in EU regulation
(EC) No 1606/2002.
The notes
to the consolidated
financial statements
are also in
accordance
with Finnish
accounting
and company
legislation
that supplements
IFRS regulations.
The information
in the financial
statements
is based on
original acquisition
costs, unless
stated otherwise
in the accounting
policies. The
financial statements
are presented
in
millions of
euros.
Lindex Group
issues a financial
review complying
with the ESEF
requirements
on its
website. In
addition,
Lindex Group
voluntarily
issues a financial
review in pdf
format,
which does
not fulfil
the disclosure
requirements
set in the
Finnish Securities
Markets Act,
chapter 7, section 5.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_2": { "value": "
Basis of
preparation
The consolidated
financial statements
of
Lindex Group plc
and its subsidiaries
(collectively
Lindex Group
or the Group)
for the year
ended 31 December
2025
were
authorised
for issue in
accordance
with a resolution
of the Board
of Directors
on 26
February 2026.
General
Lindex Group\u2019s
consolidated
financial statements
have been
prepared in
accordance
with
IFRS Accounting
Standards, complying
with the IAS
and IFRS standards
and IFRIC
and
SIC interpretations
in force on
31 December
2025. In the
Finnish accounting
legislation
and the regulations
issued pursuant
to it, IFRS
Accounting
Standards
refer to the
standards
and their interpretations
that have
been approved
for application
in the EU
in
accordance
with the procedure
stipulated
in EU regulation
(EC) No 1606/2002.
The notes
to the consolidated
financial statements
are also in
accordance
with Finnish
accounting
and company
legislation
that supplements
IFRS regulations.
The information
in the financial
statements
is based on
original acquisition
costs, unless
stated otherwise
in the accounting
policies. The
financial statements
are presented
in
millions of
euros.
Accounting judgements,
estimates and
assumptions
The preparation
of the Group\u2019s
consolidated
financial statements
requires management
to
make judgements,
estimates and
assumptions
that affect
the reported
amounts of
revenues,
expenses, assets
and liabilities,
and the accompanying
disclosures,
and the
disclosure
of contingent
liabilities.
Uncertainty
about these
assumptions
and estimates
could result
in outcomes
that require
material
adjustments
to the carrying
amount of
assets or
liabilities
in future
periods.
In the process
of applying
the Group\u2019s
accounting
policies, management
has made
various judgements.
The Group
has based
its assumptions
and estimates
on parameters
available
when the consolidated
financial statements
were prepared.
However,
existing
circumstances
and assumptions
about future
developments
may change
due to market
conditions
or factors
beyond the
Group\u2019s control.
Such changes
are reflected
in the
assumptions when they occur.
Management
has assessed
that the m
ost significant
e
ffects on
the amounts
recognised
in
the consolidated
financial statements
particularly
relate to
going concern,
valuation
of
assets, lease
term assessments,
contingent
liabilities
, and provisions
recognised.
Management
has also exercised
judgement
in the consolidation
of structured
entities,
particularly
in determining
control and
assessing
the impact on
the consolidated
financial
statements.
The principal
assumptions
concerning
the future
and the main
uncertainties
relating to
estimates at
the end of
the reporting
period, which
constitute
a significant
risk
of causing
a material
change in
the carrying
amounts of
assets and
liabilities
within the
next financial
year,
include the
value of right-of-use
assets and
lease liabilities,
depreciation
and lease
terms,
inventory
demand and
turnover rate
s, and impairment
testing of
Lindex segment
goodwill and
the brand.
More detailed
information
on these is
provided
in Notes 2.4,
3, and 5.3.
Management
considers climate
-related matters
in estimates
and assumptions,
where
appropriate.
The assessment
includes possible
impacts on
the Group
due to physical
and
transition
risks. Management
believes that
the business
model and products
will remain
viable in a future low-carbon economy
.
However, climate-related matters increase the
uncertainty
in estimates
and assumptions
related to certain
items in the
financial
statements.
Even though
climate-related
risks might
not currently
have a significant
impact on
estimates and
assumptions
,
management
closely monitor
s
relevant changes
and developments,
including climate
-related legislation
and changes
in customer
behaviour.
Business continuity
The
Group
has
prepared
the
financial
statements
based
on
the
principle
of
business
continuity.
The Group\u2019s
ability
to continue
its operations
depends
on the
profitability
of its
business
and the successful
execution
of its business
plan.
Lindex
Group operates
in a
dynamic
and complex
environment
that exposes
it to
a range
of
risks
that
may
affect
its
financial
performance
and
liquidity.
The
Group\u2019s
key
risks
include macroeconomic
conditions,
exchange rate
volatility,
and supply
chain disruptions.
Inflation
and
interest
rate
fluctuations
may
increase
operating
costs,
reduce
consumer
purchasing
power,
and
affect
discount
rates
used
in
asset
valuation.
Changes
in
exchange
rates,
particularly
between
the
euro
and
the
key
currencies
may
impact
revenue,
costs
and
balance
sheet
valuations.
Delays
in
shipments
or
production
stoppages could increase
freight costs and affect
inventory availability, impacting
working
capital
and
cash
flows.
To
manage
these
challenges,
management
and
the
Board
of
Directors
regularly
assess the
operational
and strategic
risks.
Lindex Group does not currently have
any legal disputes or claims
not already reported in
the
financial
statements
and
there
are
no
indications
of
material
threats
for
continuing
operations
or cash
flows.
Revenues
are diversified
across
a large
customer
base, and
no
single customer
poses a significant
threat to the
Group\u2019s cash
flows.
The
Group
continues
to
monitor
geopolitical
risks
and
uncertainties
as
part
of
its
risk
management
process.
As
of
the
reporting
date,
these
risks
and
uncertainties
have
no
material
impact on the
Group\u2019s financial
statements.
Based
on
its
analysis
of
the
company\u2019s
overall
situation
and
the
general
economic
uncertainty
,
the Board
of Directors
confirms
that Lindex
Group has
adequate
liquidity
and
financing
to meet
its obligations
during
at least
the next
twelve
months
and therefore
the
financial
statements
have been
prepared according
to the principle
of business
continuity.
Principles
of consolidation
The consolidated
financial statements
comprise the
financial
statements
of the parent
company,
Lindex Group
plc, and all
entities in
which the parent
company holds,
either
directly or indirectly, more than 50% of the voting rights conferred by shares or otherwise
has control.
Control is
achieved when
the Group is
exposed, or
has rights,
to variable
returns from
its involvement
with the investee
and has the
ability to
affect those
returns
through its power over the entity.
Intercompany
shareholdings
are eliminated
using the
acquisition
method, under
which
consideration
transferred
and identifiable
assets and
liabilities
of an acquired
company
are measured
at fair value
at the acquisition
date. Goodwill
is recognised
as the excess
of
consideration
transferred
,
including
non-controlling
interests
and the fair
value of
any
previously held
interest,
over the fair
value of
the acquired
net assets.
Intra-Group
transactions,
balances,
and unrealised
profits are
eliminated
in consolidation.
Subsidiaries
are included
from the date
control is
obtained and
excluded when
control
ceases. Changes
in ownership
interests
that do not
result in
loss of control
are accounted
for as equity
transactions.
A structured entity is one that has been set up so that voting rights or
similar rights are
not the dominant factor in deciding who controls the entity. A structured entity, which
is
designed to
achieve a specific
business purpose,
is consolidated
when the substance
of
the relationship
between Lindex
Group and the
structured
entity indicates
that the
structured
entity is controlled
by Lindex
Group. Management
uses judgement
when
determining the accounting treatment of a structured entity. In addition to the voting rights
or similar
rights, management
considers other
factors such
as the nature
of the
arrangement,
contractual
arrangements
and level
of influence
with the structured
entity.
A joint arrangement in which Lindex Group and another
party, based on an agreement or
the Articles
of Association,
have rights
to the assets
and obligations
for the liabilities
of
the joint arrangement
is treated
as a joint
operation.
The consolidated
financial
statements
include the
Group\u2019s share
of its joint
operation in
its statement
of financial
position as an investment property. Lindex Group does not recognise the income
and
expenses of
the joint operation,
as it is immaterial
to the Group.
Items denominated
in foreign
currency
The consolidated
financial statements
are presented
in millions
of euros, with
a precision
of 0.1 million
,
as euro is
the functional
and presentation
currency of
the Group\u2019s
parent
company.
Transactions
in foreign currencies
are recognised
in functional
currency of
each company
using the
exchange rate
at the date
of the transaction.
Receivables
and liabilities
denominated
in foreign
currencies
are translated
at the exchange
rate prevailing
at the
reporting
date. Exchange
differences
arising from
translation
are recognised
in profit and
loss.
The income
statements
and statements
of other comprehensive
income of
foreign
subsidiaries
are translated
into euro at
the average
exchange rate
for the period,
and the
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
statement
of financial
position at
the exchange
at the reporting
date. The exchange
rate
differences
resulting from
translating
the income
statement and
other comprehensive
income at
the average
rate and the
statement
of financial
position at
the closing
rate are
recognised as a separate item in other comprehensive income.
Goodwill
arising from
the acquisition
of foreign
operations
and any fair
value adjustments
to the carrying
amounts of
the assets
and liabilities
of such operations
are treated
as
assets and
liabilities
of the foreign
operations
and translated
into euro using
the exchange
rate at the
reporting date.
When a foreign
subsidiary
or joint arrangement
is disposed of
in whole or
in part, the
cumulative
translation
difference
related to
that entity
is recognised
in income statement
as part of
the gain or
loss on disposal.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_3": { "value": "
The consolidated
financial statements
of
Lindex Group plc
and its subsidiaries
(collectively
Lindex Group
or the Group)
for the year
ended 31 December
2025
were
authorised
for issue in
accordance
with a resolution
of the Board
of Directors
on 26
February 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_4": { "value": "Lindex Group plc", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_5": { "value": "Lindex Group plc", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_6": { "value": "Lindex Group plc", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_7": { "value": "plc", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_8": { "value": "The company is incorporated in Finland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_9": { "value": "Finland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_10": { "value": "The registered office is located at Aleksanterinkatu 52, 00100 Helsinki.", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_11": { "value": "The company\u2019s primary field of business is retail and its principal place of business is Finland.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_12": { "value": "its principal place of business is Finland.", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_13": { "value": "
Lindex Group\u2019s
consolidated
financial statements
have been
prepared in
accordance
with
IFRS Accounting
Standards, complying
with the IAS
and IFRS standards
and IFRIC
and
SIC interpretations
in force on
31 December
2025. In the
Finnish accounting
legislation
and the regulations
issued pursuant
to it, IFRS
Accounting
Standards
refer to the
standards
and their interpretations
that have
been approved
for application
in the EU
in
accordance
with the procedure
stipulated
in EU regulation
(EC) No 1606/2002.
The notes
to the consolidated
financial statements
are also in
accordance
with Finnish
accounting
and company
legislation
that supplements
IFRS regulations.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_14": { "value": "
New and amended
standards and
interpretations
On 1 January
2025, Lindex
Group adopted
the Amendment
to IAS 21
\u2013 Lack of
Exchangeability, issued by the IASB and endorsed by the EU.
The amendment did not
have a material
impact on
Lindex Group\u2019s
financial statements.
The new and
amended standards
and interpretations
that are issued,
but not yet
effective
up to the
date of issuance
of the Group\u2019s
financial statements
are disclosed
below.
The
Group intends
to adopt these
new and amended
standards and
interpretations,
if
applicable,
when they become
effective
and endorsed
by the EU.
IFRS 18 -
Presentation
and Disclosure
in Financial
Statements
IFRS 18 introduces
new requirements
for presentation
within the statement
of profit or
loss, including
specified totals
and subtotals.
Furthermore,
entities
are required
to classify
all income
and expenses
within the
statement
of profit or
loss into
one of five
categories:
operating,
investing,
financing,
income taxes
and discontinued
operation,
whereof first
three are new.
The standard
requires disclosure
of newly defined
management-defined
performance
measures,
subtotals of
income and
expenses, and
it also includes
new requirements
for
aggregation
and disaggregation
of financial
information
based on the
identified
\u2018roles\u2019 of
the primary
financial statements
and the notes.
In addition,
narrow-scope
amendments
have been
made to IAS
7 - Statement
of Cash
Flows, which
include changing
the starting
point for determining
cash flows
from
operations under the indirect method, from \u2018profit or loss\u2019 to \u2018operating profit or loss\u2019
and
removing
the optionality
around classification
of cash flows
from dividends
and interest.
In
addition,
there are consequential
amendments
to several
other standards.
IFRS 18, and
the amendments
to the other
standards,
are effective
for the reporting
periods beginning
on or after
1 January
2027, but earlier
application
is permitted
and
must be disclosed. IFRS 18 will apply retrospectively.
The Group
is currently
working to
identify all
impacts the
amendments
will have on
the
primary financial
statements
and notes
to the financial
statements.
The initial
expected
impacts on
Group\u2019s financial
statements
are as follows:
\u25cf
Foreign exchange
difference
will be classified
in the category
where the related
income and
expense form
the item giving
rising to
the foreign
exchange difference
\u25cf
New disclosure
will be added:
(a) management
-defined performance
measures; and
(b) a reconciliation
for each line
item in the
statement
of profit or
loss between
the
restated amounts
presented
applying IFRS
18 and the
amounts previously
presented
applying IAS
1.
\u25cf
Interest received
and interest
paid will
be classified
in the investing
activities
and
financing
activities,
respectively,
on the statement
of cash flows.
IFRS 19 \u2013
Subsidiaries
without Public
Accountability:
Disclosures
IFRS 19 will
become effective
on 1 January
2027. As the
Group\u2019s equity
instruments
are
publicly traded,
it is not
eligible to
elect to apply
IFRS 19.
Annual Improvements
to IFRS Accounting
Standards-
Volume
11
Annual improvements
to IFRS Accounting
Standards \u2013
Volume
11 includes
minor
amendments
to IFRS 1,
IFRS 7, IFRS
9, IFRS 10
and IAS 7.
The amendments
clarify
wording and
remove minor
inconsistencies
and they are
effective
on 1 January
2026.
The
Group does
not expect
them to have
a material
impact on its
financial statements.
Amendments
to IFRS 9 and
IFRS 7 \u2013 Contracts
Referencing
Nature-Dependent
Electricity
IASB issued
amendments
to IFRS 9
and IFRS 7
relating to
contracts
referencing
nature-
dependent
electricity,
including
clarifications
to the own-use
requirements,
hedge
accounting
and related
disclosures.
The amendments
are effective
on 1 January
2026.
The Group
does not expect
them to have
a material
impact on its
financial statements.
Amendments
to IFRS 9 and
IFRS 7 -
Classification
and Measurement
of Financial
Instruments
IASB issued
amendments
to IFRS 9
and IFRS 7 that
clarify certain
classification
and
measurement
requirements,
including those
relating to
contingent
(e.g. ESG-linked)
features and
derecognition
of financial
liabilities
settled through
electronic
payment
systems. The
amendments
are effective
on 1 January
2026. The
Group does not
expect
them to have
a material
impact on
its financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_15": { "value": "
New and amended
standards and
interpretations
On 1 January
2025, Lindex
Group adopted
the Amendment
to IAS 21
\u2013 Lack of
Exchangeability, issued by the IASB and endorsed by the EU.
The amendment did not
have a material
impact on
Lindex Group\u2019s
financial statements.
The new and
amended standards
and interpretations
that are issued,
but not yet
effective
up to the
date of issuance
of the Group\u2019s
financial statements
are disclosed
below.
The
Group intends
to adopt these
new and amended
standards and
interpretations,
if
applicable,
when they become
effective
and endorsed
by the EU.
IFRS 18 -
Presentation
and Disclosure
in Financial
Statements
IFRS 18 introduces
new requirements
for presentation
within the statement
of profit or
loss, including
specified totals
and subtotals.
Furthermore,
entities
are required
to classify
all income
and expenses
within the
statement
of profit or
loss into
one of five
categories:
operating,
investing,
financing,
income taxes
and discontinued
operation,
whereof first
three are new.
The standard
requires disclosure
of newly defined
management-defined
performance
measures,
subtotals of
income and
expenses, and
it also includes
new requirements
for
aggregation
and disaggregation
of financial
information
based on the
identified
\u2018roles\u2019 of
the primary
financial statements
and the notes.
In addition,
narrow-scope
amendments
have been
made to IAS
7 - Statement
of Cash
Flows, which
include changing
the starting
point for determining
cash flows
from
operations under the indirect method, from \u2018profit or loss\u2019 to \u2018operating profit or loss\u2019
and
removing
the optionality
around classification
of cash flows
from dividends
and interest.
In
addition,
there are consequential
amendments
to several
other standards.
IFRS 18, and
the amendments
to the other
standards,
are effective
for the reporting
periods beginning
on or after
1 January
2027, but earlier
application
is permitted
and
must be disclosed. IFRS 18 will apply retrospectively.
The Group
is currently
working to
identify all
impacts the
amendments
will have on
the
primary financial
statements
and notes
to the financial
statements.
The initial
expected
impacts on
Group\u2019s financial
statements
are as follows:
\u25cf
Foreign exchange
difference
will be classified
in the category
where the related
income and
expense form
the item giving
rising to
the foreign
exchange difference
\u25cf
New disclosure
will be added:
(a) management
-defined performance
measures; and
(b) a reconciliation
for each line
item in the
statement
of profit or
loss between
the
restated amounts
presented
applying IFRS
18 and the
amounts previously
presented
applying IAS
1.
\u25cf
Interest received
and interest
paid will
be classified
in the investing
activities
and
financing
activities,
respectively,
on the statement
of cash flows.
IFRS 19 \u2013
Subsidiaries
without Public
Accountability:
Disclosures
IFRS 19 will
become effective
on 1 January
2027. As the
Group\u2019s equity
instruments
are
publicly traded,
it is not
eligible to
elect to apply
IFRS 19.
Annual Improvements
to IFRS Accounting
Standards-
Volume
11
Annual improvements
to IFRS Accounting
Standards \u2013
Volume
11 includes
minor
amendments
to IFRS 1,
IFRS 7, IFRS
9, IFRS 10
and IAS 7.
The amendments
clarify
wording and
remove minor
inconsistencies
and they are
effective
on 1 January
2026.
The
Group does
not expect
them to have
a material
impact on its
financial statements.
Amendments
to IFRS 9 and
IFRS 7 \u2013 Contracts
Referencing
Nature-Dependent
Electricity
IASB issued
amendments
to IFRS 9
and IFRS 7
relating to
contracts
referencing
nature-
dependent
electricity,
including
clarifications
to the own-use
requirements,
hedge
accounting
and related
disclosures.
The amendments
are effective
on 1 January
2026.
The Group
does not expect
them to have
a material
impact on its
financial statements.
Amendments
to IFRS 9 and
IFRS 7 -
Classification
and Measurement
of Financial
Instruments
IASB issued
amendments
to IFRS 9
and IFRS 7 that
clarify certain
classification
and
measurement
requirements,
including those
relating to
contingent
(e.g. ESG-linked)
features and
derecognition
of financial
liabilities
settled through
electronic
payment
systems. The
amendments
are effective
on 1 January
2026. The
Group does not
expect
them to have
a material
impact on
its financial
statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_16": { "value": "
Accounting judgements,
estimates and
assumptions
The preparation
of the Group\u2019s
consolidated
financial statements
requires management
to
make judgements,
estimates and
assumptions
that affect
the reported
amounts of
revenues,
expenses, assets
and liabilities,
and the accompanying
disclosures,
and the
disclosure
of contingent
liabilities.
Uncertainty
about these
assumptions
and estimates
could result
in outcomes
that require
material
adjustments
to the carrying
amount of
assets or
liabilities
in future
periods.
In the process
of applying
the Group\u2019s
accounting
policies, management
has made
various judgements.
The Group
has based
its assumptions
and estimates
on parameters
available
when the consolidated
financial statements
were prepared.
However,
existing
circumstances
and assumptions
about future
developments
may change
due to market
conditions
or factors
beyond the
Group\u2019s control.
Such changes
are reflected
in the
assumptions when they occur.
Management
has assessed
that the m
ost significant
e
ffects on
the amounts
recognised
in
the consolidated
financial statements
particularly
relate to
going concern,
valuation
of
assets, lease
term assessments,
contingent
liabilities
, and provisions
recognised.
Management
has also exercised
judgement
in the consolidation
of structured
entities,
particularly
in determining
control and
assessing
the impact on
the consolidated
financial
statements.
The principal
assumptions
concerning
the future
and the main
uncertainties
relating to
estimates at
the end of
the reporting
period, which
constitute
a significant
risk
of causing
a material
change in
the carrying
amounts of
assets and
liabilities
within the
next financial
year,
include the
value of right-of-use
assets and
lease liabilities,
depreciation
and lease
terms,
inventory
demand and
turnover rate
s, and impairment
testing of
Lindex segment
goodwill and
the brand.
More detailed
information
on these is
provided
in Notes 2.4,
3, and 5.3.
Management
considers climate
-related matters
in estimates
and assumptions,
where
appropriate.
The assessment
includes possible
impacts on
the Group
due to physical
and
transition
risks. Management
believes that
the business
model and products
will remain
viable in a future low-carbon economy
.
However, climate-related matters increase the
uncertainty
in estimates
and assumptions
related to certain
items in the
financial
statements.
Even though
climate-related
risks might
not currently
have a significant
impact on
estimates and
assumptions
,
management
closely monitor
s
relevant changes
and developments,
including climate
-related legislation
and changes
in customer
behaviour.
Main assumptions
and variables
used in calculati
ng the value
in use of Lindex
In the impairment
testing, future
cash flows
are forecasted
based on
Lindex's strategy
and
financial
targets, while
also considering
potential
climate-related
risks. Cash
flow
projections
are prepared
using a conservative
approach and
have been approved
by the
Group Management Team. This approach ensures that financial forecasts reflect a
realistic
assessment
of potential
challenges
and uncertainties.
Management
approval
confirms the
validity and
careful consideration
applied in
preparing these
projections
as
Lindex navigates
a dynamic
business environment
.
Main variables
used in the
value in use
calculation
are:
Revenue growth.
The forecasted
revenue growth
for Lindex
is based on
an
estimation
of sales expansion
in both physical
stores and
online platforms,
covering a
five-year period.
Over the past
five years,
the revenue
growth rate,
measured as
the Compound
Annual Growth
Rate (CAGR),
has been
approximately
3%. The management
has considered
the mid-term
financial
targets, coupled
with a terminal
growth rate
of 2.0% (2.0%).
These revenue
forecasts
take into
consideration
a range of
factors, including
shifts in the
economy, insights from market research, expansion initiatives in physical stores,
online channels,
and collaboration
with third-party
platforms.
A significant
catalyst
for growth
is anticipated
with the operationalisation
of Lindex\u2019s
fully automated
logistics centr
e, which is
set to become
fully operational
in 2026. This
facility is
expected to
provide robust
support for
growth, particularly
in the realm
of online
channels.
2.
Gross margins
and operating
margins.
In recent years,
Lindex has achieved
an
increase or
stability
in both gross
margins and
operating
margins. This
is
attributed
to various
strategic
actions implemented
across the
supply chain,
assortments,
strategic
pricing, cost
-efficiency
measures,
and digitali
sation
initiatives.
Despite temporary
annual fluctuations,
the aggregated
improvements
are sustained
over time,
providing confidence
in the future
outlook.
Forecasts for
Lindex's
gross margin
and operating
margin percentages
extend over
a 5-year
period. In
2025, the gross
margin was
64.4%
(65.1%), and
the adjusted
operating
margin was 11.2
%
(13.2%).
Management
anticipates
that factors
such as macroeconomic
turmoil, increases
in raw material
prices, a
shift towards
sustainable
sourcing, and
changes in
the
sales mix,
in combination
with continual
investments
to future-proof
the business,
may decrease
profitability
in the short
term, but profitability
is expected
to
gradually
improve. The
lower starting
margin is planned
to be effectively
mitigated
by continuously
streamlining
operations
through increased
automation
and
digitalisation.
This ensures
that the long
-term goal
of achieving
a 15% adjusted
operating
result remains
unchanged.
3.
Discount rate
, which is
determined
using the
weighted average
cost of capital,
based on
either the optimal
capital structure
or the average
capital structure
of
industry
peers,
and reflects
the total cost
of equity
and debt.
Its components
include the
market-specific
risk-free rate,
market risk
premium,\u202fbusiness
-specific
beta, country
risk premium,
size risk
premium,
cost of debt\u202fand
debt-to-equity
ratio, which corresponds to the capital structure typical of the retail industry.
Lease liabilities
are considered
in the calculation
of the discount
rate,
and the
corresponding
right-of-use assets
are included
in the value
of assets.
Management
has determined
the components
of discount
rate so that
market-
specific risk
-free rate,
market risk
premium, business
-specific beta,
country risk
premium and
size risk premium
are consistent
with external
sources of
information
,
and the cost
of debt reflects
the industry
average.
The discount
rate applied
is a pre-tax
rate. For
Lindex, the
discount
rate is based
on market
interest rate
s
and country-specific
risk relating
to Sweden
and Finland.
The discount
rate used
for Lindex
is 9.3% (12.1%).
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_17": { "value": "
Business continuity
The
Group
has
prepared
the
financial
statements
based
on
the
principle
of
business
continuity.
The Group\u2019s
ability
to continue
its operations
depends
on the
profitability
of its
business
and the successful
execution
of its business
plan.
Lindex
Group operates
in a
dynamic
and complex
environment
that exposes
it to
a range
of
risks
that
may
affect
its
financial
performance
and
liquidity.
The
Group\u2019s
key
risks
include macroeconomic
conditions,
exchange rate
volatility,
and supply
chain disruptions.
Inflation
and
interest
rate
fluctuations
may
increase
operating
costs,
reduce
consumer
purchasing
power,
and
affect
discount
rates
used
in
asset
valuation.
Changes
in
exchange
rates,
particularly
between
the
euro
and
the
key
currencies
may
impact
revenue,
costs
and
balance
sheet
valuations.
Delays
in
shipments
or
production
stoppages could increase
freight costs and affect
inventory availability, impacting
working
capital
and
cash
flows.
To
manage
these
challenges,
management
and
the
Board
of
Directors
regularly
assess the
operational
and strategic
risks.
Lindex Group does not currently have
any legal disputes or claims
not already reported in
the
financial
statements
and
there
are
no
indications
of
material
threats
for
continuing
operations
or cash
flows.
Revenues
are diversified
across
a large
customer
base, and
no
single customer
poses a significant
threat to the
Group\u2019s cash
flows.
The
Group
continues
to
monitor
geopolitical
risks
and
uncertainties
as
part
of
its
risk
management
process.
As
of
the
reporting
date,
these
risks
and
uncertainties
have
no
material
impact on the
Group\u2019s financial
statements.
Based
on
its
analysis
of
the
company\u2019s
overall
situation
and
the
general
economic
uncertainty
,
the Board
of Directors
confirms
that Lindex
Group has
adequate
liquidity
and
financing
to meet
its obligations
during
at least
the next
twelve
months
and therefore
the
financial
statements
have been
prepared according
to the principle
of business
continuity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_18": { "value": "
Principles
of consolidation
The consolidated
financial statements
comprise the
financial
statements
of the parent
company,
Lindex Group
plc, and all
entities in
which the parent
company holds,
either
directly or indirectly, more than 50% of the voting rights conferred by shares or otherwise
has control.
Control is
achieved when
the Group is
exposed, or
has rights,
to variable
returns from
its involvement
with the investee
and has the
ability to
affect those
returns
through its power over the entity.
Intercompany
shareholdings
are eliminated
using the
acquisition
method, under
which
consideration
transferred
and identifiable
assets and
liabilities
of an acquired
company
are measured
at fair value
at the acquisition
date. Goodwill
is recognised
as the excess
of
consideration
transferred
,
including
non-controlling
interests
and the fair
value of
any
previously held
interest,
over the fair
value of
the acquired
net assets.
Intra-Group
transactions,
balances,
and unrealised
profits are
eliminated
in consolidation.
Subsidiaries
are included
from the date
control is
obtained and
excluded when
control
ceases. Changes
in ownership
interests
that do not
result in
loss of control
are accounted
for as equity
transactions.
A structured entity is one that has been set up so that voting rights or
similar rights are
not the dominant factor in deciding who controls the entity. A structured entity, which
is
designed to
achieve a specific
business purpose,
is consolidated
when the substance
of
the relationship
between Lindex
Group and the
structured
entity indicates
that the
structured
entity is controlled
by Lindex
Group. Management
uses judgement
when
determining the accounting treatment of a structured entity. In addition to the voting rights
or similar
rights, management
considers other
factors such
as the nature
of the
arrangement,
contractual
arrangements
and level
of influence
with the structured
entity.
A joint arrangement in which Lindex Group and another
party, based on an agreement or
the Articles
of Association,
have rights
to the assets
and obligations
for the liabilities
of
the joint arrangement
is treated
as a joint
operation.
The consolidated
financial
statements
include the
Group\u2019s share
of its joint
operation in
its statement
of financial
position as an investment property. Lindex Group does not recognise the income
and
expenses of
the joint operation,
as it is immaterial
to the Group.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_19": { "value": "
Principles
of consolidation
The consolidated
financial statements
comprise the
financial
statements
of the parent
company,
Lindex Group
plc, and all
entities in
which the parent
company holds,
either
directly or indirectly, more than 50% of the voting rights conferred by shares or otherwise
has control.
Control is
achieved when
the Group is
exposed, or
has rights,
to variable
returns from
its involvement
with the investee
and has the
ability to
affect those
returns
through its power over the entity.
Intercompany
shareholdings
are eliminated
using the
acquisition
method, under
which
consideration
transferred
and identifiable
assets and
liabilities
of an acquired
company
are measured
at fair value
at the acquisition
date. Goodwill
is recognised
as the excess
of
consideration
transferred
,
including
non-controlling
interests
and the fair
value of
any
previously held
interest,
over the fair
value of
the acquired
net assets.
Intra-Group
transactions,
balances,
and unrealised
profits are
eliminated
in consolidation.
Subsidiaries
are included
from the date
control is
obtained and
excluded when
control
ceases. Changes
in ownership
interests
that do not
result in
loss of control
are accounted
for as equity
transactions.
A structured entity is one that has been set up so that voting rights or
similar rights are
not the dominant factor in deciding who controls the entity. A structured entity, which
is
designed to
achieve a specific
business purpose,
is consolidated
when the substance
of
the relationship
between Lindex
Group and the
structured
entity indicates
that the
structured
entity is controlled
by Lindex
Group. Management
uses judgement
when
determining the accounting treatment of a structured entity. In addition to the voting rights
or similar
rights, management
considers other
factors such
as the nature
of the
arrangement,
contractual
arrangements
and level
of influence
with the structured
entity.
A joint arrangement in which Lindex Group and another
party, based on an agreement or
the Articles
of Association,
have rights
to the assets
and obligations
for the liabilities
of
the joint arrangement
is treated
as a joint
operation.
The consolidated
financial
statements
include the
Group\u2019s share
of its joint
operation in
its statement
of financial
position as an investment property. Lindex Group does not recognise the income
and
expenses of
the joint operation,
as it is immaterial
to the Group.
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Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_20": { "value": "
Principles
of consolidation
The consolidated
financial statements
comprise the
financial
statements
of the parent
company,
Lindex Group
plc, and all
entities in
which the parent
company holds,
either
directly or indirectly, more than 50% of the voting rights conferred by shares or otherwise
has control.
Control is
achieved when
the Group is
exposed, or
has rights,
to variable
returns from
its involvement
with the investee
and has the
ability to
affect those
returns
through its power over the entity.
Intercompany
shareholdings
are eliminated
using the
acquisition
method, under
which
consideration
transferred
and identifiable
assets and
liabilities
of an acquired
company
are measured
at fair value
at the acquisition
date. Goodwill
is recognised
as the excess
of
consideration
transferred
,
including
non-controlling
interests
and the fair
value of
any
previously held
interest,
over the fair
value of
the acquired
net assets.
Intra-Group
transactions,
balances,
and unrealised
profits are
eliminated
in consolidation.
Subsidiaries
are included
from the date
control is
obtained and
excluded when
control
ceases. Changes
in ownership
interests
that do not
result in
loss of control
are accounted
for as equity
transactions.
A structured entity is one that has been set up so that voting rights or
similar rights are
not the dominant factor in deciding who controls the entity. A structured entity, which
is
designed to
achieve a specific
business purpose,
is consolidated
when the substance
of
the relationship
between Lindex
Group and the
structured
entity indicates
that the
structured
entity is controlled
by Lindex
Group. Management
uses judgement
when
determining the accounting treatment of a structured entity. In addition to the voting rights
or similar
rights, management
considers other
factors such
as the nature
of the
arrangement,
contractual
arrangements
and level
of influence
with the structured
entity.
A joint arrangement in which Lindex Group and another
party, based on an agreement or
the Articles
of Association,
have rights
to the assets
and obligations
for the liabilities
of
the joint arrangement
is treated
as a joint
operation.
The consolidated
financial
statements
include the
Group\u2019s share
of its joint
operation in
its statement
of financial
position as an investment property. Lindex Group does not recognise the income
and
expenses of
the joint operation,
as it is immaterial
to the Group.
Items denominated
in foreign
currency
The consolidated
financial statements
are presented
in millions
of euros, with
a precision
of 0.1 million
,
as euro is
the functional
and presentation
currency of
the Group\u2019s
parent
company.
Transactions
in foreign currencies
are recognised
in functional
currency of
each company
using the
exchange rate
at the date
of the transaction.
Receivables
and liabilities
denominated
in foreign
currencies
are translated
at the exchange
rate prevailing
at the
reporting
date. Exchange
differences
arising from
translation
are recognised
in profit and
loss.
The income
statements
and statements
of other comprehensive
income of
foreign
subsidiaries
are translated
into euro at
the average
exchange rate
for the period,
and the
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statement
of financial
position at
the exchange
at the reporting
date. The exchange
rate
differences
resulting from
translating
the income
statement and
other comprehensive
income at
the average
rate and the
statement
of financial
position at
the closing
rate are
recognised as a separate item in other comprehensive income.
Goodwill
arising from
the acquisition
of foreign
operations
and any fair
value adjustments
to the carrying
amounts of
the assets
and liabilities
of such operations
are treated
as
assets and
liabilities
of the foreign
operations
and translated
into euro using
the exchange
rate at the
reporting date.
When a foreign
subsidiary
or joint arrangement
is disposed of
in whole or
in part, the
cumulative
translation
difference
related to
that entity
is recognised
in income statement
as part of
the gain or
loss on disposal.
Segment information
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Accounting
policies
Lindex Group\u2019s
reportable segments
are
Lindex
, which operates
in the fashion
retail
trade and
Stockmann
, which operates
in the department
store trade.
Segments
represent
divisions of
the Group
that are managed
and monitored
as separate
units
offering different products and services.
The segment
information
presented
by the Group
is based on
the management\u2019s
internal
reporting.
Management
assesses segment
performance
primarily on
operating
profit, and
the measurement
principles
for assets
and liabilities
are consistent
with IFRS
requirements
.
The highest
level of operational
decision-making
is vested in
the Group\u2019s
CEO, who
regularly
reviews the
operational
performance
of the divisions.
Segment information
is presented
in accordance
with IFRS 8
Operating Segments.
Operating income
Revenue recognition
Accounting
policies
Revenue is
recognised
when a performance
obligation
is satisfied
by transferring
a
promised good or service to a customer,
and the customer obtains control of that good or
service. Most
of the Group\u2019s
operating
income arises
from the retail
sales of goods
or
services,
which are paid
for in cash
or by credit
card.
Revenue is
recognised
at the point
of sale. When
calculating
revenue, indirect
taxes and
discounts granted
are deducted
from sales.
Sales through
the online
store and
to franchising
partners are
recognised
as revenue
when all goods
or services
related to
the order have
been delivered
to the customer
or
the franchising
partner,
and the customer
obtains control
over the goods
or services.
Customers
have the
right to return
the products
purchased from
a store or
the online
store within
a specified
time frame.
A refund liability
for expected
returns is
calculated
based on
historical experience
as a percentage
of sales.
This liability
is recognised
as a
reduction
of revenue.
The cost of
goods expected
to be returned
is recognised
as an
asset under
inventories
and as an adjustment
in materials
and services.
Income from
credit card
co-operation
is recognised
as revenue.
For the customer
loyalty
programme,
sales adjustment
items include
customer loyalty
award points.
The estimated
stand-alone
selling price
of unused loyalty
points accumulated
by customers
is
recognised as a reduction of revenue and as a short
-term contract liability.
The liability is
recognised
in the same
financial
period as
the related
revenue.
When a customer
redeems accumulated
points as payment
in a store,
the value of
the points
used is
recognised as revenue and a reduction of the short-term contract liability.
If loyalty points
expire unused,
their value
is recognised
as revenue
and as a reduction
of short-term
contract
liability.
Lease income
from operating
leases is
recognised
as revenue on
a straight-line
basis
over the lease
term. Turnover-based
lease income
is recognised
based on the
actual
revenue of
the tenants.
Other operating
income
Accounting
policies
Other operating income includes, among other items, gains on the sale of property, plant
and equipment
and income
from the disposal
of a business.
Government
grants or similar
assistance
from public
entities that
become receivable
as
compensation
for expenses
already incurred
are recognised
as other operating
income in
the period
in which the
company complies
with the attached
conditions.
Inventories
Accounting
policies
Inventories
are measured
at the lower
of acquisition
cost and net
realisable
value. In
the
ordinary course
of business,
net realisable
value is the
estimated
selling price
less the
estimated
costs incurred
in bringing
the product
to a finished
condition and
the estimated
necessary selling
costs.
The inventory
turnover rate
and any potential
decline in
the net realisable
value below
the
acquisition cost are assessed regularly. If necessary, an impairment loss is recognised
for
inventories.
Lindex recognises
a provision
for obsolete
inventories
based on
whether the
inventories
are older than
one year,
as well as
parameters
related to
inventory
levels and
uncertainties
in the operating
environment.
Stockmann recognises
a provision
for
obsolete inventories
calculated
as a percentage
of the acquisition
cost of slow
-moving
goods in
the central
warehouse and
department
stores.
The value
of inventories
is determined
using the
weighted average
cost method
and it
includes all
direct purchase
costs.
Employee benefits
Accounting
policies
Pension obligations
All statutory
and voluntary
pension plans
in the Lindex
Group\u2019s countries
of operation
are
classified
as defined
contribution
plans. Payments
for defined
contribution
plans are made
to pension
insurance companies
and are recognised
as expenses
in the income
statement
for the financial
period to which
they relate.
Other long
-term employee
benefits
Lindex Group
operates a
length-of-service
reward system
classified
as other long
-term
employee benefits.
Employees who
complete the
specified years
of service
are entitled
to
extra paid
leave. The
present value
of the obligation
arising from
this long-term
employee
benefit at
the reporting
date is recognised
as a liability
in the statement
of financial
position.
Items arising
from the measurement
of the liability
are recognised
in the income
statement.
Other operating expenses
Accounting
policies
Other operating
expenses comprise
costs that
are not directly
attributable
to the sale
of
goods and
services. The
se include,
for example,
site expenses,
marketing
expenses,
goods handling
expenses, ICT
expenses, professional
service fees
and expenses
for
leased workforce.
Also, expenses
related to
short-term leases,
leases of low
-value assets
and variable
lease payments
not included
in the measurement
of lease liabilities
are
recognised in other operating expenses. In addition
,
losses on the disposal of property,
plant and
equipment
and valuation
losses of assets
classified
as held for
sale are
recognised
in other operating
expenses.
Income taxes
Accounting
policies
Tax expense in the income statement comprises tax based on taxable profit
for the period
and deferred
tax. The tax
rates and
tax laws used
to compute
the tax amounts
are those
enacted or
substantively
enacted at
the reporting
date in the
countries
where the Group
operates and
generates
taxable income.
The amount
of
tax is adjusted
for any taxes
relating to
previous periods.
Income tax
is presented
in the income
statement
unless the
tax relates
to items recognised
directly in
equity or in
other comprehensive
income, in
which case
the tax effect
is recognised
in equity
or in other
comprehensive
income.
Deferred
tax is recognised
for temporary
differences
between the
tax bases of
assets and
liabilities
and their carrying
amounts at
the reporting
date. Deferred
tax is not
recognised
on goodwill
impairment,
which is non-deductible
for tax purposes.
Deferred
tax assets
and liabilities
are measured
at the tax
rates expected
to apply
when
the asset
is realised
or the liability
settled, based
on tax rates
and tax laws
enacted or
substantively
enacted at
the reporting
date.
Deferred
tax liabilities
are recognised
in full, except
for undistributed
profits of
the
Estonian and
Latvian subsidiaries,
as the Group
can control
the timing
of the reversal
and
no reversal
is expected
in the foreseeable
future. Deferred
tax assets
are recognised
to
the extent
that it is
probable that
taxable profit
will be available
against which
the
deductible
temporary differences
can be utilised.
Deferred tax
assets arising
from unused
tax losses
are recognised
only to the
extent that
the Group company
has sufficient
taxable temporary
differences
.
Alternatively,
they are recognised
when there
is other
convincing
evidence that
sufficient
taxable income
will be generated
to utilise
the unused
tax losses
or tax credits.
The Group
offsets
deferred tax
assets and deferred
tax liabilities
only if it
has a legally
enforceable
right to set
off current
tax assets
against current
tax liabilities
based on
taxable income
for the period.
In addition
,
such deferred
tax assets
and liabilities
must
relate to income taxes levied by the same tax authority, either on the same taxable entity
or on different
entities that
intend to
settle on a
net basis or
realise the
assets and
settle
the liabilities simultaneously.
The Group
applies the
temporary
mandatory exception
under IAS
12.4A, which
requires
that entities
do not recognise
or disclose
deferred tax
assets and
liabilities
related to
the
OECD/G20
BEPS Pillar
Two model
rules. Group
companies
recognise income
tax
expense and
any top-up tax
related to
the Pillar Two
in the period
in which the
liability
arises. Estonian
and Latvian
subsidiaries
are exceptions
to this rule,
as they recognise
income tax
expenses and
liabilities
upon dividend
distribution.
For such regimes,
top-up
tax is not
recognised
in the absence
of dividend
distribution
during the
fiscal year
if a
deemed distribution
tax election
has been made.
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Goodwill and
other intangible
assets
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Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
Impairment testing
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
Property,
plant and equipment
Accounting
policies
Machinery and equipment constitute the majority of property, plant and
equipment. This
category
also includes
modification
and renovation
costs of leased
premises such
as
interior finishing
work in commercial
premises located
in leased buildings.
Property, plant and equipment are measured in the statement of financial position at
original
acquisition
cost,
less accumulated
depreciation
and any impairment
losses. The
acquisition cost of self-constructed assets includes materials and direct labour. Where an
item of property, plant and equipment comprises several components with differing useful
lives, the
components
are treated
as separate
items. Subsequent
expenditure
is
capitalised
only when
it increases
the future useful
life of the
asset;
other costs,
such as
routine maintenance
and repair,
are recognised
in the income
statement
as operating
expenses when
incurred.
Depreciation
is calculated
on a straight
-line basis
over the estimated
useful lives
of the
assets.
The estimated
useful lives
are:
Buildings
20-25 years
Warehouse automation
10-15 years
Modification
and renovation
of leased
premises
5\u201320 years
Machinery
and equipment
3\u201315 years
ICT equipment
3\u20135 years
Lightweight
store fixtures
and equipment
3\u20138 years
The Group
reviews the
estimated
residual values
and expected
useful lives
of property,
plant and
equipment
annually and
adjusts them
prospectively
where appropriate.
The
review includes
climate-related
considerations,
including
physical and
transition
risks. In
particular
,
the Group assesses
whether the
climate-related
legislation
and regulations
might impact
useful lives
or residual
values of
the assets.
As at reporting
date,
climate-
related considerations
had no impact
on the useful
lives or valuation
of these assets.
Investment property
Accounting
policies
When the Group
holds land
or building
to earn rental
income or
for appreciation
rather
than for its
own retail
or administrative
purposes, the
property is
classified
as an
investment
property in
accordance
with IAS 40.
An investment
property is
initially
valued at
acquisition
cost, which
includes the
purchase
price and
any directly
attributable
expenditure.
Investment properties
are not
depreciated;
instead, changes
in fair value
are recognised
in the income
statement
in the
period in
which they
arise. These
gains or losses
are presented
separately
in the income
statement.
Leases
Group as
lessee
Accounting
policies
A right-of-use
asset and
a lease liability
is recognised
at the lease
commencement
date.
The right-of
-use asset
is initially
measured at
cost, which
comprises the
initial amount
of
the lease
liability adjusted
for any lease
payments made
at or before
the commencement
date, plus
any initial
direct costs
incurred and
an estimate
of costs to
dismantle and
remove the
underlying
asset or to
restore the
underlying
asset or the
site on which
it is
located,
less any lease
incentives
received. The
right-of-use asset
s
in Lindex
Group are
composed of
leased business
premises,
warehouses,
cars, and
other machinery
and
equipment.
The right-of
-use asset
is subsequently
depreciated
using the
straight-line
method from
the
commencement
date until
the end of
the lease term.
If the lease
transfers ownership
of
the underlying
asset to the
Group by the
end of the lease
term, or the
cost of the
right-of-
use asset
reflects that
the Group
will exercise
a purchase option,
the right-of-use
asset
will be depreciated
over the useful
life of the
underlying
asset. In
addition,
the right-of-use
asset is periodically
reduced by
impairment
losses, if
any,
and adjusted
for the amount
of
the remeasurement of the lease liability.
At the commencement
date the lease
liability is
measured
at the present
value of the
lease payments
that have
not been paid
at that date.
The lease
payments are
discounted
using the
interest rate
implicit in
the lease,
if that rate
can be readily
determined.
If that
rate cannot
be readily
determined,
the incremental
borrowing rate
is used instead.
The
incremental
borrowing
rate is the
average rate
of interest
that the Group
would have
to
pay to borrow over a similar term, and with a similar security, the funds necessary
to
obtain an
asset of a
similar value
to the right
-of-use asset
in a similar
economic
environment.
Lease payments
included in
the measurement
of the lease
liability
comprise the
following:
- fixed lease
payments,
- variable
lease payments
that depend
on an index,
initially measured
using the
index as
at the commencement
date,
- amounts
expected to
be payable
under residual
value guarantees,
- the exercise
price of a
purchase option
if it is reasonably
certain that
the option
will be
exercised,
- payments
of penalties
for terminating
the lease if
it is reasonably
certain that
the option
to terminate
will be exercised
.
The lease
term is determined
as the non-cancellable
period of a
lease, together
with
periods covered
by an option
to extend the
lease if it
is reasonably
certain that
the option
will be exercised.
Lindex division
uses a scoring
system based
on the operating
profit to
determine
if prolongation
of the original
rental period
is included
in the lease
term.
Operating
profit is measured
as a percentage
of turnover
and the higher
the percentage,
the more likely
the option
to extend
will be exercised.
The lease
liability is
later measured
at the amortised
cost using the
effective
interest
method. The
lease liability
is reassessed
when there is
a change in
future lease
payments
arising from
a change in
the index or
if there is
a change in
the estimate
of the amount
expected to
be payable
under the
residual value
guarantee or
if there is
a change in
the
assessment
of whether
purchase, extension
or termination
option will
be exercised.
When
the lease
liability is
remeasured,
a corresponding
adjustment
is made to
the carrying
amount of the
right-of-use
asset or recorded
in profit or
loss if the
carrying
amount of
the
right-of-use
asset has been
reduced to zero.
Lease modifications,
where the original
terms of a lease
agreement such
as change in
the
scope of a
lease, its contractual
duration, or
the consideration
for a lease,
are accounted
for either
as a new lease
or an adjustment
to the existing
lease. If the
modification
increases
the scope of
the lease
by adding
new assets,
and the consideration
increases
commensurately, it is treated as a separate lease.
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The Group
presents
right-of-use assets
that do not
meet the definition
of investment
property in property, plant and equipment and lease liabilities in liabilities in the statement
of financial
position. When
right-of-use
assets are
transferred
to the lessee
under a
sublease agreement
and are classified
as a finance
lease, the
right-of-use assets
are
derecognised
and presented
as a lease
receivable in
the balance
sheet.
Based on the
exemption
provided by
IFRS 16, the
Group has elected
not to recognise
right-of-use
assets and lease
liabilities
for short-term
leases and
leases of
low-value
assets, including
IT-systems and
office equipment.
The Group
recognises
the lease
payments associated
with these leases
as an expense
on a straight
-line basis
over the
lease term.
Sale and
leaseback
Accounting
policies
In sale and
leaseback transactions,
where Lindex
Group sells
and then leases
back
assets, the
right-of-use
asset arising
from the leaseback
is measured
at the proportion
of
the previous
carrying amount
of the asset
that relates
to the right
-of-use retained
by the
Group. Accordingly,
Lindex Group
recognises only
the amount
of any gain
or loss that
relates to
the rights
transferred
to the buyer
-lessor.
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Group as lessor
Accounting
policies
When the Group
acts as a
lessor,
for each lease
at the lease
inception it
is determined
whether it
is a finance
lease or an
operating
lease. A lease
is a finance
lease if
substantially
all of the
risks and rewards
incidental
to ownership
of the underlying
asset
are transferred
to the lessee,
otherwise
it is an operating
lease. All
leases in
which Lindex
Group acts
as a lessor
on 31 December
2025 and 31
December 202
4
are operating
leases. The
Group recognises
lease payments
received under
operating leases
as
income on
a straight-line
basis over
the lease term
as part of
revenue.
Financial instruments
Accounting
policies
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Trade
receivables
and other
non-derivative
receivables
are measured
at amortised
cost
and presented
as current
or non-current
assets in
the statement
of financial
position,
depending
on maturity
.
Receivables
maturing after
more than 12
months are
classified
as
non-current.
Trade receivables
are initially
recognised at
fair value.
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
Purchases
and sales of
financial
assets are
recognised
on the trade
date, the date
on
which the
Group commit
s
to purchase
or sell the
asset. Financial
assets are
derecognised
from the statement
of financial
position when
contractual
rights to cash
flows expire,
or
control over
the asset
is lost.
Non-derivative
financial liabilities
are classified
at amortised
cost and initially
recognised
at their fair value in the statement of financial position
.
Transaction costs are included in
the initial carrying amount of interest-bearing liabilities.
Subsequently, interest-bearing
liabilities
are measured
at amortised
cost using
the effective
interest method.
Non-current
liabilities
have maturities
of 12 months
or more,
and current
liabilities
mature within
1
2
months.
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
Cash and cash equivalents
Accounting
policies
Cash and cash
equivalents
consist of
cash on hand,
current bank
deposits as
well as
other current,
highly liquid
investments
with a maturity
of no more
than three
months at
the date of
acquisition.
The fair values
of cash and
cash equivalents
are assumed
to
approximate
to their carrying
amounts because
of their short
maturities.
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
Provisions
Accounting
policies
A provision
is recognised
when the Group
has a legal
or constructive
obligation
as a
result of
a past event
,
it is probable
that an outflow
of resources
will be required
to settle
the obligation, and the amount can be estimated reliably.
A provision
for an onerous
contract
is recognised
when the unavoidable
costs of meeting
the obligations
under the contract
exceed the
expected economic
benefits.
A restructuring
provision
is recognised
when the Group
is committed
to plan involving
the
sale or termination
of a significant
line of business
or the closure
of operations
in a
geographical
area.
Provision
amounts are
reviewed at
each reporting
date and adjusted
to reflect
the current
management
estimates.
Changes in provisions
are recognised
in the income
statement in
the same line
item in which
the provision
was originally
recorded.
Share-based incentives
Accounting
policies
Lindex Group
offers performance
shares as
a long-term equity
-settled share
-based
incentive
plan for key
employees.
Employee services
received and
the corresponding
increase in
equity are
measured at
the fair value
of the equity
instruments
granted, determined
at the grant
date. The
fair
value measurement
excludes the
impact of any
non-market vesting
conditions.
Non-
market vesting
conditions
attached to
the performance
shares are
included in
assumptions
about the number
of shares that
employees are
ultimately expected
to
receive.
The Group
reviews these
assumptions
regularly and
revises its
estimates of
the number
of performance shares expected to vest as necessary.
Share-based
compensation
is recognised
as an expense
in the consolidated
income
statement
on a straight
-line basis
over the vesting
and commitment
period of the
plan,
with a corresponding increase in equity.
Social security
expenses related
to the share
-based compensation
are recognised
as an
expense in
the consolidated
income statement
over the vesting
and commitment
period,
based on
the actual
share price
at the end
of the reporting
period. The
corresponding
amount is
recorded as
a liability
in the consolidated
statement of
financial
position.
Climate-related
matters
Accounting
policies
Lindex Group
considers
climate-related
matters in
estimates and
assumptions,
where
appropriate.
The assessment
includes possible
impacts on
the Group
due to physical
and
transition
risks. The
Group believes
that its business
model and
products will
remain
viable in a future low-carbon economy
.
However,
climate-related matters increase the
uncertainty
in estimates
and assumptions
related to certain
items in the
financial
statements.
Even though
climate-related
risks might
not currently
have a significant
impact on
estimates and
assumptions
,
the Group
closely monitor
s
relevant changes
and
developments,
including climate
-related legislation
and changes
in customer
behaviour.
The items
and considerations
which are
recognised as
most directly
impacted by
climate-
related matters
are:
Impairment
of goodwill.
The value-in
-use may be
impacted in
different
ways by transition
risk, such as
climate-
related legislation
and changes
in demand for
the Group\u2019s
products.
The Group has
concluded
that no single
climate-related
assumption
is a key assumption
for the goodwill
impairment
test in 2025.
Nevertheless
,
expectations
for the changing
consumer needs
and consumption
habits,
anticipated
cost increases
due to stricter
recycling requirements
and more sustainably
sourced materials
,
as well as
higher energy
and freight
cost due to
climate change
,
have been
incorporated
into the cash
-flow forecasts
when assessing
value-in-use
amounts. See
Note 3.2.
Useful life of property, plant and equipment.
When reviewing
the residual
values and
expected useful
lives of assets,
the Group
considers
climate-related
matters, including
legislation
and regulations
that may
restrict
the use of
assets. See
Note 3.3.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_21": { "value": "
Principles
of consolidation
The consolidated
financial statements
comprise the
financial
statements
of the parent
company,
Lindex Group
plc, and all
entities in
which the parent
company holds,
either
directly or indirectly, more than 50% of the voting rights conferred by shares or otherwise
has control.
Control is
achieved when
the Group is
exposed, or
has rights,
to variable
returns from
its involvement
with the investee
and has the
ability to
affect those
returns
through its power over the entity.
Intercompany
shareholdings
are eliminated
using the
acquisition
method, under
which
consideration
transferred
and identifiable
assets and
liabilities
of an acquired
company
are measured
at fair value
at the acquisition
date. Goodwill
is recognised
as the excess
of
consideration
transferred
,
including
non-controlling
interests
and the fair
value of
any
previously held
interest,
over the fair
value of
the acquired
net assets.
Intra-Group
transactions,
balances,
and unrealised
profits are
eliminated
in consolidation.
Subsidiaries
are included
from the date
control is
obtained and
excluded when
control
ceases. Changes
in ownership
interests
that do not
result in
loss of control
are accounted
for as equity
transactions.
The income
statements
and statements
of other comprehensive
income of
foreign
subsidiaries
are translated
into euro at
the average
exchange rate
for the period,
and the
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\n
\n
statement
of financial
position at
the exchange
at the reporting
date. The exchange
rate
differences
resulting from
translating
the income
statement and
other comprehensive
income at
the average
rate and the
statement
of financial
position at
the closing
rate are
recognised as a separate item in other comprehensive income.
Goodwill
arising from
the acquisition
of foreign
operations
and any fair
value adjustments
to the carrying
amounts of
the assets
and liabilities
of such operations
are treated
as
assets and
liabilities
of the foreign
operations
and translated
into euro using
the exchange
rate at the
reporting date.
When a foreign
subsidiary
or joint arrangement
is disposed of
in whole or
in part, the
cumulative
translation
difference
related to
that entity
is recognised
in income statement
as part of
the gain or
loss on disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_22": { "value": "
The consolidated
financial statements
are presented
in millions
of euros, with
a precision
of 0.1 million
,
as euro is
the functional
and presentation
currency of
the Group\u2019s
parent
company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_23": { "value": "
Transactions
in foreign currencies
are recognised
in functional
currency of
each company
using the
exchange rate
at the date
of the transaction.
Receivables
and liabilities
denominated
in foreign
currencies
are translated
at the exchange
rate prevailing
at the
reporting
date. Exchange
differences
arising from
translation
are recognised
in profit and
loss.
The income
statements
and statements
of other comprehensive
income of
foreign
subsidiaries
are translated
into euro at
the average
exchange rate
for the period,
and the
\n
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\n
\n
statement
of financial
position at
the exchange
at the reporting
date. The exchange
rate
differences
resulting from
translating
the income
statement and
other comprehensive
income at
the average
rate and the
statement
of financial
position at
the closing
rate are
recognised as a separate item in other comprehensive income.
Goodwill
arising from
the acquisition
of foreign
operations
and any fair
value adjustments
to the carrying
amounts of
the assets
and liabilities
of such operations
are treated
as
assets and
liabilities
of the foreign
operations
and translated
into euro using
the exchange
rate at the
reporting date.
When a foreign
subsidiary
or joint arrangement
is disposed of
in whole or
in part, the
cumulative
translation
difference
related to
that entity
is recognised
in income statement
as part of
the gain or
loss on disposal.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_24": { "value": "
Segment information
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accounting
policies
Lindex Group\u2019s
reportable segments
are
Lindex
, which operates
in the fashion
retail
trade and
Stockmann
, which operates
in the department
store trade.
Segments
represent
divisions of
the Group
that are managed
and monitored
as separate
units
offering different products and services.
The segment
information
presented
by the Group
is based on
the management\u2019s
internal
reporting.
Management
assesses segment
performance
primarily on
operating
profit, and
the measurement
principles
for assets
and liabilities
are consistent
with IFRS
requirements
.
The highest
level of operational
decision-making
is vested in
the Group\u2019s
CEO, who
regularly
reviews the
operational
performance
of the divisions.
Segment information
is presented
in accordance
with IFRS 8
Operating Segments.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Operating segments
Lindex
Lindex is
one of Europe\u2019s
leading fashion
companies,
with 442 stores
in 17 countries
,
an
online store
serving 32
countries
and a global
presence through
partnerships.
Lindex
offers inspiring
and affordable
fashion for
women and children
.
Its
product range
includes
women\u2019s wear, kids\u2019 wear, lingerie and cosmetics.
Stockmann
Stockmann
is a multichannel
retail company
offering
a diverse
and high-quality
range of
fashion, cosmetics
and home products.
Stockmann
operates seven
department
stores in
three countries
,
complemented
by its own
online store.
In Estonia
and Latvia,
Stockmann\u2019s
range also
includes premium
food and beverage
products.
Unallocated
Unallocated
items include
functions that
serve the
entire Lindex
Group, such
as
Corporate
Management,
Group Finance
Management,
Group Treasury,
Internal Audit
and
Investor
Relations.
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
2025
EUR mill.
Lindex
Stockmann
Unallocated
Group total
Revenue
645.9
306.8
-0.4
952.3
Materials and services
-229.8
-168.5
0.4
-397.9
Other operating expenses
-276.2
-103.3
-5.5
-384.9
Depreciations
-75.3
-29.4
0.0
-104.7
Operating result
64.6
5.6
-5.5
64.7
Financial income
3.6
Financial expenses
-40.4
Consolidated profit/loss
before taxes
28.0
Capital expenditure
79.1
7.0
86.1
Assets
1,033.2
322.6
0.3
1,356.2
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\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
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\n
\n
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\n
\n
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\n
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\n
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\n
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\n
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\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
2024
EUR mill.
Lindex
Stockmann
Unallocated
Group total
Revenue
628.8
311.6
-0.2
940.1
Other operating income
4.5
0.0
0.0
4.5
Materials and services
-219.6
-172.8
0.2
-392.3
Other operating expenses
-258.8
-123.8
-9.9
-392.5
Depreciations
-69.7
-29.2
0.0
-99.0
Operating result
85.1
-14.2
-10.0
60.9
Financial income
5.2
Financial expenses
-37.6
Consolidated profit before
taxes
28.6
Capital expenditure
114.4
25.5
0.0
139.9
Assets
959.4
356.0
0.3
1,315.7
Information on market areas
The Group
reports revenue,
operating
results, and
non-current
assets geographically
divided into
Finland, Sweden,
Norway,
and other countries.
\n
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\n
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\n
\n
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\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
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\n
\n
\n
\n
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\n
\n
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\n
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\n
EUR mill.
Revenue
2025
2024
Finland
308.6
313.6
Sweden*)
339.7
329.9
Norway
131.7
126.2
Other countries
172.3
170.4
Group total
952.3
940.1
Finland, %
32.4 %
33.4 %
International operations, %
67.6 %
66.6 %
Operating profit/loss
2025
2024
Finland
0.2
-22.7
Sweden*)
45.2
67.4
Norway
6.9
6.2
Other countries
12.5
10.0
Group total
64.7
60.9
Non-current assets
2025
2024
Finland
239.7
246.2
Sweden*)
635.7
595.6
Norway
56.0
58.4
Other countries
51.8
58.0
Group total
983.1
958.2
Finland, %
24.4 %
25.7 %
International operations, %
75.6 %
74.3 %
*) Includes the sales of goods and services to the
franchising partners and third parties.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_25": { "value": "
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accounting
policies
Lindex Group\u2019s
reportable segments
are
Lindex
, which operates
in the fashion
retail
trade and
Stockmann
, which operates
in the department
store trade.
Segments
represent
divisions of
the Group
that are managed
and monitored
as separate
units
offering different products and services.
The segment
information
presented
by the Group
is based on
the management\u2019s
internal
reporting.
Management
assesses segment
performance
primarily on
operating
profit, and
the measurement
principles
for assets
and liabilities
are consistent
with IFRS
requirements
.
The highest
level of operational
decision-making
is vested in
the Group\u2019s
CEO, who
regularly
reviews the
operational
performance
of the divisions.
Segment information
is presented
in accordance
with IFRS 8
Operating Segments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_26": { "value": "
Operating income
Revenue recognition
Accounting
policies
Revenue is
recognised
when a performance
obligation
is satisfied
by transferring
a
promised good or service to a customer,
and the customer obtains control of that good or
service. Most
of the Group\u2019s
operating
income arises
from the retail
sales of goods
or
services,
which are paid
for in cash
or by credit
card.
Revenue is
recognised
at the point
of sale. When
calculating
revenue, indirect
taxes and
discounts granted
are deducted
from sales.
Sales through
the online
store and
to franchising
partners are
recognised
as revenue
when all goods
or services
related to
the order have
been delivered
to the customer
or
the franchising
partner,
and the customer
obtains control
over the goods
or services.
Customers
have the
right to return
the products
purchased from
a store or
the online
store within
a specified
time frame.
A refund liability
for expected
returns is
calculated
based on
historical experience
as a percentage
of sales.
This liability
is recognised
as a
reduction
of revenue.
The cost of
goods expected
to be returned
is recognised
as an
asset under
inventories
and as an adjustment
in materials
and services.
Income from
credit card
co-operation
is recognised
as revenue.
For the customer
loyalty
programme,
sales adjustment
items include
customer loyalty
award points.
The estimated
stand-alone
selling price
of unused loyalty
points accumulated
by customers
is
recognised as a reduction of revenue and as a short
-term contract liability.
The liability is
recognised
in the same
financial
period as
the related
revenue.
When a customer
redeems accumulated
points as payment
in a store,
the value of
the points
used is
recognised as revenue and a reduction of the short-term contract liability.
If loyalty points
expire unused,
their value
is recognised
as revenue
and as a reduction
of short-term
contract
liability.
Lease income
from operating
leases is
recognised
as revenue on
a straight-line
basis
over the lease
term. Turnover-based
lease income
is recognised
based on the
actual
revenue of
the tenants.
Revenue
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Merchandise revenue
924.3
911.5
Rental income and service charges
27.9
28.6
Total
952.3
940.1
Disaggregated revenue information
\n
\n
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\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
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\n
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\n
\n
\n
\n
1.1.-31.12.2025, EUR mill.
Lindex
Stockmann
Total
Revenue streams
Merchandise revenue
645.9
278.9
924.8
Rental income and service charges
27.9
27.9
Eliminations
-0.4
-0.4
Total
645.5
306.8
952.3
Market areas
Finland
78.3
230.3
308.6
Sweden
339.7
339.7
Norway
131.7
131.7
Other countries
95.8
76.5
172.3
Total
645.5
306.8
952.3
1.1.-31.12.2024, EUR mill.
Lindex
Stockmann
Total
Revenue streams
Merchandise revenue
628.8
282.9
911.7
Rental income and service charges
28.6
28.6
Eliminations
-0.2
-0.2
Total
628.6
311.6
940.1
Market areas
Finland
78.3
235.3
313.6
Sweden
329.9
329.9
Norway
126.2
126.2
Other countries
94.1
76.3
170.4
Total
628.6
311.6
940.1
Contract balances
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Contract assets
0.8
0.7
Contract liabilities
7.1
5.8
No information is provided about remaining performance
obligations that have an original expected
duration of one year or less, as allowed
by IFRS 15.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_27": { "value": "
Revenue recognition
Accounting
policies
Revenue is
recognised
when a performance
obligation
is satisfied
by transferring
a
promised good or service to a customer,
and the customer obtains control of that good or
service. Most
of the Group\u2019s
operating
income arises
from the retail
sales of goods
or
services,
which are paid
for in cash
or by credit
card.
Revenue is
recognised
at the point
of sale. When
calculating
revenue, indirect
taxes and
discounts granted
are deducted
from sales.
Sales through
the online
store and
to franchising
partners are
recognised
as revenue
when all goods
or services
related to
the order have
been delivered
to the customer
or
the franchising
partner,
and the customer
obtains control
over the goods
or services.
Customers
have the
right to return
the products
purchased from
a store or
the online
store within
a specified
time frame.
A refund liability
for expected
returns is
calculated
based on
historical experience
as a percentage
of sales.
This liability
is recognised
as a
reduction
of revenue.
The cost of
goods expected
to be returned
is recognised
as an
asset under
inventories
and as an adjustment
in materials
and services.
Income from
credit card
co-operation
is recognised
as revenue.
For the customer
loyalty
programme,
sales adjustment
items include
customer loyalty
award points.
The estimated
stand-alone
selling price
of unused loyalty
points accumulated
by customers
is
recognised as a reduction of revenue and as a short
-term contract liability.
The liability is
recognised
in the same
financial
period as
the related
revenue.
When a customer
redeems accumulated
points as payment
in a store,
the value of
the points
used is
recognised as revenue and a reduction of the short-term contract liability.
If loyalty points
expire unused,
their value
is recognised
as revenue
and as a reduction
of short-term
contract
liability.
Lease income
from operating
leases is
recognised
as revenue on
a straight-line
basis
over the lease
term. Turnover-based
lease income
is recognised
based on the
actual
revenue of
the tenants.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_28": { "value": "
Income from
credit card
co-operation
is recognised
as revenue.
For the customer
loyalty
programme,
sales adjustment
items include
customer loyalty
award points.
The estimated
stand-alone
selling price
of unused loyalty
points accumulated
by customers
is
recognised as a reduction of revenue and as a short
-term contract liability.
The liability is
recognised
in the same
financial
period as
the related
revenue.
When a customer
redeems accumulated
points as payment
in a store,
the value of
the points
used is
recognised as revenue and a reduction of the short-term contract liability.
If loyalty points
expire unused,
their value
is recognised
as revenue
and as a reduction
of short-term
contract
liability.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCustomerLoyaltyProgrammesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_29": { "value": "
Revenue
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Merchandise revenue
924.3
911.5
Rental income and service charges
27.9
28.6
Total
952.3
940.1
Disaggregated revenue information
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
1.1.-31.12.2025, EUR mill.
Lindex
Stockmann
Total
Revenue streams
Merchandise revenue
645.9
278.9
924.8
Rental income and service charges
27.9
27.9
Eliminations
-0.4
-0.4
Total
645.5
306.8
952.3
Market areas
Finland
78.3
230.3
308.6
Sweden
339.7
339.7
Norway
131.7
131.7
Other countries
95.8
76.5
172.3
Total
645.5
306.8
952.3
1.1.-31.12.2024, EUR mill.
Lindex
Stockmann
Total
Revenue streams
Merchandise revenue
628.8
282.9
911.7
Rental income and service charges
28.6
28.6
Eliminations
-0.2
-0.2
Total
628.6
311.6
940.1
Market areas
Finland
78.3
235.3
313.6
Sweden
329.9
329.9
Norway
126.2
126.2
Other countries
94.1
76.3
170.4
Total
628.6
311.6
940.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_30": { "value": "
Other operating
income
Accounting
policies
Other operating income includes, among other items, gains on the sale of property, plant
and equipment
and income
from the disposal
of a business.
Government
grants or similar
assistance
from public
entities that
become receivable
as
compensation
for expenses
already incurred
are recognised
as other operating
income in
the period
in which the
company complies
with the attached
conditions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_31": { "value": "
Other operating
income
Accounting
policies
Other operating income includes, among other items, gains on the sale of property, plant
and equipment
and income
from the disposal
of a business.
Government
grants or similar
assistance
from public
entities that
become receivable
as
compensation
for expenses
already incurred
are recognised
as other operating
income in
the period
in which the
company complies
with the attached
conditions.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Insurance claim settlement for losses related to
COVID-19
4.4
COVID-19 support received
0.0
Total
4.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_32": { "value": "
Government
grants or similar
assistance
from public
entities that
become receivable
as
compensation
for expenses
already incurred
are recognised
as other operating
income in
the period
in which the
company complies
with the attached
conditions.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Insurance claim settlement for losses related to
COVID-19
4.4
COVID-19 support received
0.0
Total
4.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_33": { "value": "
Government
grants or similar
assistance
from public
entities that
become receivable
as
compensation
for expenses
already incurred
are recognised
as other operating
income in
the period
in which the
company complies
with the attached
conditions.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_34": { "value": "
Gross margin
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Revenue
952.3
940.1
Materials and services
397.9
392.3
Gross profit
554.4
547.9
Gross margin, % of revenue
58.2%
58.3%
", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_35": { "value": "
Inventories
Accounting
policies
Inventories
are measured
at the lower
of acquisition
cost and net
realisable
value. In
the
ordinary course
of business,
net realisable
value is the
estimated
selling price
less the
estimated
costs incurred
in bringing
the product
to a finished
condition and
the estimated
necessary selling
costs.
The inventory
turnover rate
and any potential
decline in
the net realisable
value below
the
acquisition cost are assessed regularly. If necessary, an impairment loss is recognised
for
inventories.
Lindex recognises
a provision
for obsolete
inventories
based on
whether the
inventories
are older than
one year,
as well as
parameters
related to
inventory
levels and
uncertainties
in the operating
environment.
Stockmann recognises
a provision
for
obsolete inventories
calculated
as a percentage
of the acquisition
cost of slow
-moving
goods in
the central
warehouse and
department
stores.
The value
of inventories
is determined
using the
weighted average
cost method
and it
includes all
direct purchase
costs.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Materials and consumables
163.8
169.6
Total
163.8
169.6
The value of inventories has been written down
by EUR 6.3 (7.2) million for obsolete assets.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_36": { "value": "
Inventories
Accounting
policies
Inventories
are measured
at the lower
of acquisition
cost and net
realisable
value. In
the
ordinary course
of business,
net realisable
value is the
estimated
selling price
less the
estimated
costs incurred
in bringing
the product
to a finished
condition and
the estimated
necessary selling
costs.
The inventory
turnover rate
and any potential
decline in
the net realisable
value below
the
acquisition cost are assessed regularly. If necessary, an impairment loss is recognised
for
inventories.
Lindex recognises
a provision
for obsolete
inventories
based on
whether the
inventories
are older than
one year,
as well as
parameters
related to
inventory
levels and
uncertainties
in the operating
environment.
Stockmann recognises
a provision
for
obsolete inventories
calculated
as a percentage
of the acquisition
cost of slow
-moving
goods in
the central
warehouse and
department
stores.
The value
of inventories
is determined
using the
weighted average
cost method
and it
includes all
direct purchase
costs.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_37": { "value": "
Employee benefits
Accounting
policies
Pension obligations
All statutory
and voluntary
pension plans
in the Lindex
Group\u2019s countries
of operation
are
classified
as defined
contribution
plans. Payments
for defined
contribution
plans are made
to pension
insurance companies
and are recognised
as expenses
in the income
statement
for the financial
period to which
they relate.
Other long
-term employee
benefits
Lindex Group
operates a
length-of-service
reward system
classified
as other long
-term
employee benefits.
Employees who
complete the
specified years
of service
are entitled
to
extra paid
leave. The
present value
of the obligation
arising from
this long-term
employee
benefit at
the reporting
date is recognised
as a liability
in the statement
of financial
position.
Items arising
from the measurement
of the liability
are recognised
in the income
statement.
Other operating expenses
Accounting
policies
Other operating
expenses comprise
costs that
are not directly
attributable
to the sale
of
goods and
services. The
se include,
for example,
site expenses,
marketing
expenses,
goods handling
expenses, ICT
expenses, professional
service fees
and expenses
for
leased workforce.
Also, expenses
related to
short-term leases,
leases of low
-value assets
and variable
lease payments
not included
in the measurement
of lease liabilities
are
recognised in other operating expenses. In addition
,
losses on the disposal of property,
plant and
equipment
and valuation
losses of assets
classified
as held for
sale are
recognised
in other operating
expenses.
Income taxes
Accounting
policies
Tax expense in the income statement comprises tax based on taxable profit
for the period
and deferred
tax. The tax
rates and
tax laws used
to compute
the tax amounts
are those
enacted or
substantively
enacted at
the reporting
date in the
countries
where the Group
operates and
generates
taxable income.
The amount
of
tax is adjusted
for any taxes
relating to
previous periods.
Income tax
is presented
in the income
statement
unless the
tax relates
to items recognised
directly in
equity or in
other comprehensive
income, in
which case
the tax effect
is recognised
in equity
or in other
comprehensive
income.
Deferred
tax is recognised
for temporary
differences
between the
tax bases of
assets and
liabilities
and their carrying
amounts at
the reporting
date. Deferred
tax is not
recognised
on goodwill
impairment,
which is non-deductible
for tax purposes.
Deferred
tax assets
and liabilities
are measured
at the tax
rates expected
to apply
when
the asset
is realised
or the liability
settled, based
on tax rates
and tax laws
enacted or
substantively
enacted at
the reporting
date.
Deferred
tax liabilities
are recognised
in full, except
for undistributed
profits of
the
Estonian and
Latvian subsidiaries,
as the Group
can control
the timing
of the reversal
and
no reversal
is expected
in the foreseeable
future. Deferred
tax assets
are recognised
to
the extent
that it is
probable that
taxable profit
will be available
against which
the
deductible
temporary differences
can be utilised.
Deferred tax
assets arising
from unused
tax losses
are recognised
only to the
extent that
the Group company
has sufficient
taxable temporary
differences
.
Alternatively,
they are recognised
when there
is other
convincing
evidence that
sufficient
taxable income
will be generated
to utilise
the unused
tax losses
or tax credits.
The Group
offsets
deferred tax
assets and deferred
tax liabilities
only if it
has a legally
enforceable
right to set
off current
tax assets
against current
tax liabilities
based on
taxable income
for the period.
In addition
,
such deferred
tax assets
and liabilities
must
relate to income taxes levied by the same tax authority, either on the same taxable entity
or on different
entities that
intend to
settle on a
net basis or
realise the
assets and
settle
the liabilities simultaneously.
The Group
applies the
temporary
mandatory exception
under IAS
12.4A, which
requires
that entities
do not recognise
or disclose
deferred tax
assets and
liabilities
related to
the
OECD/G20
BEPS Pillar
Two model
rules. Group
companies
recognise income
tax
expense and
any top-up tax
related to
the Pillar Two
in the period
in which the
liability
arises. Estonian
and Latvian
subsidiaries
are exceptions
to this rule,
as they recognise
income tax
expenses and
liabilities
upon dividend
distribution.
For such regimes,
top-up
tax is not
recognised
in the absence
of dividend
distribution
during the
fiscal year
if a
deemed distribution
tax election
has been made.
An investment
property is
initially
valued at
acquisition
cost, which
includes the
purchase
price and
any directly
attributable
expenditure.
Investment properties
are not
depreciated;
instead, changes
in fair value
are recognised
in the income
statement
in the
period in
which they
arise. These
gains or losses
are presented
separately
in the income
statement.
The right-of
-use asset
is subsequently
depreciated
using the
straight-line
method from
the
commencement
date until
the end of
the lease term.
If the lease
transfers ownership
of
the underlying
asset to the
Group by the
end of the lease
term, or the
cost of the
right-of-
use asset
reflects that
the Group
will exercise
a purchase option,
the right-of-use
asset
will be depreciated
over the useful
life of the
underlying
asset. In
addition,
the right-of-use
asset is periodically
reduced by
impairment
losses, if
any,
and adjusted
for the amount
of
the remeasurement of the lease liability.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_38": { "value": "
Employee benefits
Accounting
policies
Pension obligations
All statutory
and voluntary
pension plans
in the Lindex
Group\u2019s countries
of operation
are
classified
as defined
contribution
plans. Payments
for defined
contribution
plans are made
to pension
insurance companies
and are recognised
as expenses
in the income
statement
for the financial
period to which
they relate.
Other long
-term employee
benefits
Lindex Group
operates a
length-of-service
reward system
classified
as other long
-term
employee benefits.
Employees who
complete the
specified years
of service
are entitled
to
extra paid
leave. The
present value
of the obligation
arising from
this long-term
employee
benefit at
the reporting
date is recognised
as a liability
in the statement
of financial
position.
Items arising
from the measurement
of the liability
are recognised
in the income
statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_39": { "value": "
Employee benefits
Accounting
policies
Pension obligations
All statutory
and voluntary
pension plans
in the Lindex
Group\u2019s countries
of operation
are
classified
as defined
contribution
plans. Payments
for defined
contribution
plans are made
to pension
insurance companies
and are recognised
as expenses
in the income
statement
for the financial
period to which
they relate.
Other long
-term employee
benefits
Lindex Group
operates a
length-of-service
reward system
classified
as other long
-term
employee benefits.
Employees who
complete the
specified years
of service
are entitled
to
extra paid
leave. The
present value
of the obligation
arising from
this long-term
employee
benefit at
the reporting
date is recognised
as a liability
in the statement
of financial
position.
Items arising
from the measurement
of the liability
are recognised
in the income
statement.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Salaries and fees
165.8
161.0
Share-based payments
0.6
0.3
Pension expenses, defined contribution plans
15.0
14.9
Other employee benefits expenses
33.4
32.2
Total
214.8
208.4
Information on the management's employee benefits is given
in Notes 5.5 Related party transactions
and 5.6 Share-based incentives.
Management remuneration
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
Remuneration of the Group Management Team 2025
EUR
CEO
Other Group
Management Team
members
Total
Short-term employee benefits
545,752
1,079,416
1,625,168
Post-employment benefits
Other long-term employee
benefits
171,353
116,534
287,887
Share-based payments
71,862
331,317
403,179
Total
788,967
1,527,267
2,316,234
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
Remuneration of the Board of Directors 2025
EUR
Annual
remuneration
Remuneration for
meetings
Total
Pohjonen Sari
90,000
28,200
118,200
Neuwald Roland
65,000
16,200
81,200
Bj\u00f6rkman Stefan
42,500
16,800
59,300
Collesei Andrea
31,875
10,800
42,675
Karppinen Timo
52,500
17,400
69,900
Stone Tracy
42,500
15,000
57,500
Williams Harriet
42,500
15,000
57,500
Total
366,875
119,400
486,275
Remuneration of key persons
total
2,802,509
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
Remuneration of the Group Management Team 2024
EUR
CEO
Other Group
Management Team
members
Total
Short-term employee benefits
485,770
1,028,611
1,514,381
Other long-term employee
benefits
278,157
123,162
401,319
Share-based payments
216,766
-105,180
111,586
Total
980,692
1,046,594
2,027,286
Remuneration of the Board of Directors 2024
EUR
Annual
remuneration
Remuneration for
meetings
Total
Pohjonen Sari
90,000
33,600
123,600
Neuwald Roland
65,000
19,800
84,800
Bj\u00f6rkman Stefan
42,500
15,000
57,500
Karppinen Timo
52,500
21,000
73,500
Stone Tracy
42,500
19,800
62,300
Williams Harriet
42,500
15,000
57,500
Total
335,000
124,200
459,200
Remuneration of key persons
total
2,486,486
Remuneration
of the CEO
CEO Susanne
Ehnb\u00e5ge\u2019s
remuneration
consists of
a fixed monetary
salary,
fringe
benefits,
and short-
and long-term
incentive schemes.
In addition,
Susanne Ehnb\u00e5ge
has
a supplementary
pension arrangement
as well as
potential retention
and severance
benefits.
Management's
pension commitments
CEO Susanne
Ehnb\u00e5ge is
eligible to
retire upon
reaching the
age of 65 years.
The
pension accrue
s
under an individual
pension scheme
in accordance
with local
practice in
Sweden.
In 2025, Susanne
Ehnb\u00e5ge\u2019s
pension scheme
was based
on a defined
contribution
system, partly
under the
local ITP1
plan and partly
through an
additional
pension provision
equal to 30
% of income
exceeding the
ITP1 income
cap.
The retirement age for other Group Management Team members is 65 years
or individual
based on
the statutory
retirement
age.
The total cost
for the defined
occupational
contribution
pension insurance
taken by the
company for the Group Management Team was EUR 287,887
(401,319).
Management\u2019s
share-based
incentives
Information
on the management\u2019s
share-based
incentive plan
is disclosed
in Note 5.6.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_40": { "value": "
Employee benefits
Accounting
policies
Pension obligations
All statutory
and voluntary
pension plans
in the Lindex
Group\u2019s countries
of operation
are
classified
as defined
contribution
plans. Payments
for defined
contribution
plans are made
to pension
insurance companies
and are recognised
as expenses
in the income
statement
for the financial
period to which
they relate.
Other long
-term employee
benefits
Lindex Group
operates a
length-of-service
reward system
classified
as other long
-term
employee benefits.
Employees who
complete the
specified years
of service
are entitled
to
extra paid
leave. The
present value
of the obligation
arising from
this long-term
employee
benefit at
the reporting
date is recognised
as a liability
in the statement
of financial
position.
Items arising
from the measurement
of the liability
are recognised
in the income
statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_41": { "value": "
Other operating expenses
Accounting
policies
Other operating
expenses comprise
costs that
are not directly
attributable
to the sale
of
goods and
services. The
se include,
for example,
site expenses,
marketing
expenses,
goods handling
expenses, ICT
expenses, professional
service fees
and expenses
for
leased workforce.
Also, expenses
related to
short-term leases,
leases of low
-value assets
and variable
lease payments
not included
in the measurement
of lease liabilities
are
recognised in other operating expenses. In addition
,
losses on the disposal of property,
plant and
equipment
and valuation
losses of assets
classified
as held for
sale are
recognised
in other operating
expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_42": { "value": "
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\n
Fees to the auditors
EUR mill.
2025
2024
Auditing/EY
0.6
0.5
Auditing/others
0.1
0.0
Other assurance services based on legal
requirements/EY
0.2
0.2
Tax advisory/EY
0.0
0.0
Other services/EY
0.0
0.0
Total
0.9
0.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_43": { "value": "
Income taxes
Accounting
policies
Tax expense in the income statement comprises tax based on taxable profit
for the period
and deferred
tax. The tax
rates and
tax laws used
to compute
the tax amounts
are those
enacted or
substantively
enacted at
the reporting
date in the
countries
where the Group
operates and
generates
taxable income.
The amount
of
tax is adjusted
for any taxes
relating to
previous periods.
Income tax
is presented
in the income
statement
unless the
tax relates
to items recognised
directly in
equity or in
other comprehensive
income, in
which case
the tax effect
is recognised
in equity
or in other
comprehensive
income.
Deferred
tax is recognised
for temporary
differences
between the
tax bases of
assets and
liabilities
and their carrying
amounts at
the reporting
date. Deferred
tax is not
recognised
on goodwill
impairment,
which is non-deductible
for tax purposes.
Deferred
tax assets
and liabilities
are measured
at the tax
rates expected
to apply
when
the asset
is realised
or the liability
settled, based
on tax rates
and tax laws
enacted or
substantively
enacted at
the reporting
date.
Deferred
tax liabilities
are recognised
in full, except
for undistributed
profits of
the
Estonian and
Latvian subsidiaries,
as the Group
can control
the timing
of the reversal
and
no reversal
is expected
in the foreseeable
future. Deferred
tax assets
are recognised
to
the extent
that it is
probable that
taxable profit
will be available
against which
the
deductible
temporary differences
can be utilised.
Deferred tax
assets arising
from unused
tax losses
are recognised
only to the
extent that
the Group company
has sufficient
taxable temporary
differences
.
Alternatively,
they are recognised
when there
is other
convincing
evidence that
sufficient
taxable income
will be generated
to utilise
the unused
tax losses
or tax credits.
The Group
offsets
deferred tax
assets and deferred
tax liabilities
only if it
has a legally
enforceable
right to set
off current
tax assets
against current
tax liabilities
based on
taxable income
for the period.
In addition
,
such deferred
tax assets
and liabilities
must
relate to income taxes levied by the same tax authority, either on the same taxable entity
or on different
entities that
intend to
settle on a
net basis or
realise the
assets and
settle
the liabilities simultaneously.
The Group
applies the
temporary
mandatory exception
under IAS
12.4A, which
requires
that entities
do not recognise
or disclose
deferred tax
assets and
liabilities
related to
the
OECD/G20
BEPS Pillar
Two model
rules. Group
companies
recognise income
tax
expense and
any top-up tax
related to
the Pillar Two
in the period
in which the
liability
arises. Estonian
and Latvian
subsidiaries
are exceptions
to this rule,
as they recognise
income tax
expenses and
liabilities
upon dividend
distribution.
For such regimes,
top-up
tax is not
recognised
in the absence
of dividend
distribution
during the
fiscal year
if a
deemed distribution
tax election
has been made.
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\n
EUR mill.
2025
2024
Income taxes for the financial period
-15.4
-11.6
Income taxes from previous financial periods
7.7
-1.9
Change in deferred tax liability/assets
4.1
-1.8
Total
-3.6
-15.3
Reconciliation between the income tax expense
in the income statement and the Group's
tax
expense at the Finnish tax rate of 20%
EUR mill.
2025
2024
Profit before taxes
28.0
28.6
Income taxes at current tax rate
-5.6
-5.7
Income taxes from previous financial periods
7.7
-1.9
Previous periods' confirmed losses
0.8
Tax-exempt income
3.5
1.3
Differing tax rates of foreign subsidiaries
-0.1
0.1
Non-deductible expenses
-6.1
-7.0
Effect of deferred taxes not recognised
-2.4
-2.1
Unrecognised deferred tax assets from losses in
taxation
-4.9
Reverse of deferred tax relating to previous financial
periods
8.9
Deferred tax on results from previous financial
periods
-5.3
Income taxes in the income statement
-3.6
-15.3
The Pillar
Two model
rules were adopted
in Finland
at the end
of 2023 and
became
applicable
on 1 January
2024. According
to these rules,
the Group is
considered
a
multinational enterprise to which the Pillar Two rules apply. Concurrently, Pillar Two
legislation
has been enacted
or substantively
enacted in
several other
jurisdictions
where
the Group
operates, effective
for the financial
year beginning
on or after
1 January 2024.
The Group
has assessed
its exposure
to Pillar Two
income taxes
based on 2025
financial
information
and country
-by-country reporting
for its constituent
entities.
For the 2025
financial
year,
the Group\u2019s
effective
tax rate was
above 15%
or transitional
safe harbour
relief applied
in all jurisdictions
where the
Group operates.
In Estonia,
the Group
distributed
retained earnings
during the
year and paid
income tax in
accordance
with the local
distribution
tax regime.
As a result,
the effective
tax rate for
Pillar Two
purposes in
2025 exceeded
15%. The distribution
also fulfilled
the deemed
distribution tax election made for the previous year. Consequently, the Group has no top-
up tax liability
in any jurisdiction
for the financial
year 2025 or
for the prior
year.
Deferred tax assets and deferred tax liabilities
\n
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\n
\n
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\n
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\n
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\n
\n
Changes in deferred tax assets
EUR mill.
1.1.2025
Recognised in income statement
Translation difference
31.12.2025
Confirmed losses
0.0
0.0
Difference between carrying amounts and tax bases of
property, plant and equipment
1.4
0.1
1.5
Lease liability
115.2
-4.2
3.3
114.3
Other temporary differences
4.5
-2.9
0.0
1.6
Deferred tax assets
121.1
-7.1
3.4
117.4
Netting of deferred taxes
-90.5
-89.2
Deferred tax assets, net
30.6
28.2
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
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\n
\n
\n
\n
EUR mill.
1.1.2024
Recognised in income statement
Translation difference
31.12.2024
Difference between carrying amounts and tax bases of
property, plant and equipment
1.4
-0.0
1.4
Lease liability
111.1
5.7
-1.7
115.2
Other temporary differences
5.1
-0.4
-0.1
4.5
Deferred tax assets
117.6
5.3
-1.8
121.1
Netting of deferred taxes
-87.3
-90.5
Deferred tax assets, net
30.3
30.6
\n
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\n
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\n
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\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
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\n
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\n
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\n
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\n
\n
\n
\n
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\n
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\n
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\n
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\n
\n
\n
\n
Changes in deferred tax liabilities
EUR mill.
1.1.2025
Recognised in income statement
Translation difference
31.12.2025
Cumulative depreciation differences
19.8
1.6
1.0
22.4
Difference between carrying amount and tax bases of prop.,
plant and equip.
4.1
0.2
4.4
Measurement at fair value of intangible and tangible
assets
13.2
0.8
14.0
Right-of-use assets
90.5
-4.4
3.0
89.2
Other temporary differences
15.1
-8.4
-0.0
6.7
Deferred tax liabilities
142.8
-11.2
5.1
136.7
Netting of deferred taxes
-90.5
-89.2
Deferred tax liabilities, net
52.3
47.5
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Recognised in income statement
Translation difference
31.12.2024
Cumulative depreciation differences
18.4
1.9
-0.5
19.8
Difference between carrying amount and tax bases of prop.,
plant and equip.
4.3
-0.1
4.1
Measurement at fair value of intangible and tangible
assets
13.7
-0.4
13.2
Right-of-use assets
87.4
4.7
-1.6
90.5
Other temporary differences
14.6
0.5
0.0
15.1
Deferred tax liabilities
138.3
7.1
-2.6
142.8
Netting of deferred taxes
-87.3
-90.5
Deferred tax liabilities, net
51.0
52.3
Group companies
have tax losses
of EUR 18.6
million (61.6)
that may be
utilised against
future taxable
income. Of
these, EUR
4.6
million can
be used until
2033,
EUR 13.3 million
until
2034, and EUR
0.8
million can be carried forward indefinitely.
No deferred
tax assets
have been
recognised for
these losses.
The Group
records a
deferred tax
asset only
to the extent
that it is
probable that
sufficient
taxable profit
will be available
to
utilise the
losses in future
periods or
that they can
be used elsewhere
in the Group.
In accordance
with IAS 12
paragraph
52 A, no deferred
tax liabilit
y
has
been recognised
on the accumulated
distributable
earnings of
EUR 12.4 million
(21.1) in the
Estonian and
Latvian
subsidiaries.
Lindex Group
has recognised
a deferred
tax liability
of EUR 6.8
million (6.4)
for the undistributed
accumulated
distributable
earnings of
Lindex Group
plc\u2019s branch
in Estonia.
Currently,
the taxes
in Estonia
on potential
future profit
distributions
from the branch
would not be
deductible
against taxes
payable in
Finland.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_44": { "value": "
Income taxes
Accounting
policies
Tax expense in the income statement comprises tax based on taxable profit
for the period
and deferred
tax. The tax
rates and
tax laws used
to compute
the tax amounts
are those
enacted or
substantively
enacted at
the reporting
date in the
countries
where the Group
operates and
generates
taxable income.
The amount
of
tax is adjusted
for any taxes
relating to
previous periods.
Income tax
is presented
in the income
statement
unless the
tax relates
to items recognised
directly in
equity or in
other comprehensive
income, in
which case
the tax effect
is recognised
in equity
or in other
comprehensive
income.
Deferred
tax is recognised
for temporary
differences
between the
tax bases of
assets and
liabilities
and their carrying
amounts at
the reporting
date. Deferred
tax is not
recognised
on goodwill
impairment,
which is non-deductible
for tax purposes.
Deferred
tax assets
and liabilities
are measured
at the tax
rates expected
to apply
when
the asset
is realised
or the liability
settled, based
on tax rates
and tax laws
enacted or
substantively
enacted at
the reporting
date.
Deferred
tax liabilities
are recognised
in full, except
for undistributed
profits of
the
Estonian and
Latvian subsidiaries,
as the Group
can control
the timing
of the reversal
and
no reversal
is expected
in the foreseeable
future. Deferred
tax assets
are recognised
to
the extent
that it is
probable that
taxable profit
will be available
against which
the
deductible
temporary differences
can be utilised.
Deferred tax
assets arising
from unused
tax losses
are recognised
only to the
extent that
the Group company
has sufficient
taxable temporary
differences
.
Alternatively,
they are recognised
when there
is other
convincing
evidence that
sufficient
taxable income
will be generated
to utilise
the unused
tax losses
or tax credits.
The Group
offsets
deferred tax
assets and deferred
tax liabilities
only if it
has a legally
enforceable
right to set
off current
tax assets
against current
tax liabilities
based on
taxable income
for the period.
In addition
,
such deferred
tax assets
and liabilities
must
relate to income taxes levied by the same tax authority, either on the same taxable entity
or on different
entities that
intend to
settle on a
net basis or
realise the
assets and
settle
the liabilities simultaneously.
The Group
applies the
temporary
mandatory exception
under IAS
12.4A, which
requires
that entities
do not recognise
or disclose
deferred tax
assets and
liabilities
related to
the
OECD/G20
BEPS Pillar
Two model
rules. Group
companies
recognise income
tax
expense and
any top-up tax
related to
the Pillar Two
in the period
in which the
liability
arises. Estonian
and Latvian
subsidiaries
are exceptions
to this rule,
as they recognise
income tax
expenses and
liabilities
upon dividend
distribution.
For such regimes,
top-up
tax is not
recognised
in the absence
of dividend
distribution
during the
fiscal year
if a
deemed distribution
tax election
has been made.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_45": { "value": "
Deferred
tax is recognised
for temporary
differences
between the
tax bases of
assets and
liabilities
and their carrying
amounts at
the reporting
date. Deferred
tax is not
recognised
on goodwill
impairment,
which is non-deductible
for tax purposes.
Deferred
tax assets
and liabilities
are measured
at the tax
rates expected
to apply
when
the asset
is realised
or the liability
settled, based
on tax rates
and tax laws
enacted or
substantively
enacted at
the reporting
date.
Deferred
tax liabilities
are recognised
in full, except
for undistributed
profits of
the
Estonian and
Latvian subsidiaries,
as the Group
can control
the timing
of the reversal
and
no reversal
is expected
in the foreseeable
future. Deferred
tax assets
are recognised
to
the extent
that it is
probable that
taxable profit
will be available
against which
the
deductible
temporary differences
can be utilised.
Deferred tax
assets arising
from unused
tax losses
are recognised
only to the
extent that
the Group company
has sufficient
taxable temporary
differences
.
Alternatively,
they are recognised
when there
is other
convincing
evidence that
sufficient
taxable income
will be generated
to utilise
the unused
tax losses
or tax credits.
The Group
offsets
deferred tax
assets and deferred
tax liabilities
only if it
has a legally
enforceable
right to set
off current
tax assets
against current
tax liabilities
based on
taxable income
for the period.
In addition
,
such deferred
tax assets
and liabilities
must
relate to income taxes levied by the same tax authority, either on the same taxable entity
or on different
entities that
intend to
settle on a
net basis or
realise the
assets and
settle
the liabilities simultaneously.
Deferred tax assets and deferred tax liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Changes in deferred tax assets
EUR mill.
1.1.2025
Recognised in income statement
Translation difference
31.12.2025
Confirmed losses
0.0
0.0
Difference between carrying amounts and tax bases of
property, plant and equipment
1.4
0.1
1.5
Lease liability
115.2
-4.2
3.3
114.3
Other temporary differences
4.5
-2.9
0.0
1.6
Deferred tax assets
121.1
-7.1
3.4
117.4
Netting of deferred taxes
-90.5
-89.2
Deferred tax assets, net
30.6
28.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Recognised in income statement
Translation difference
31.12.2024
Difference between carrying amounts and tax bases of
property, plant and equipment
1.4
-0.0
1.4
Lease liability
111.1
5.7
-1.7
115.2
Other temporary differences
5.1
-0.4
-0.1
4.5
Deferred tax assets
117.6
5.3
-1.8
121.1
Netting of deferred taxes
-87.3
-90.5
Deferred tax assets, net
30.3
30.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Changes in deferred tax liabilities
EUR mill.
1.1.2025
Recognised in income statement
Translation difference
31.12.2025
Cumulative depreciation differences
19.8
1.6
1.0
22.4
Difference between carrying amount and tax bases of prop.,
plant and equip.
4.1
0.2
4.4
Measurement at fair value of intangible and tangible
assets
13.2
0.8
14.0
Right-of-use assets
90.5
-4.4
3.0
89.2
Other temporary differences
15.1
-8.4
-0.0
6.7
Deferred tax liabilities
142.8
-11.2
5.1
136.7
Netting of deferred taxes
-90.5
-89.2
Deferred tax liabilities, net
52.3
47.5
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Recognised in income statement
Translation difference
31.12.2024
Cumulative depreciation differences
18.4
1.9
-0.5
19.8
Difference between carrying amount and tax bases of prop.,
plant and equip.
4.3
-0.1
4.1
Measurement at fair value of intangible and tangible
assets
13.7
-0.4
13.2
Right-of-use assets
87.4
4.7
-1.6
90.5
Other temporary differences
14.6
0.5
0.0
15.1
Deferred tax liabilities
138.3
7.1
-2.6
142.8
Netting of deferred taxes
-87.3
-90.5
Deferred tax liabilities, net
51.0
52.3
Group companies
have tax losses
of EUR 18.6
million (61.6)
that may be
utilised against
future taxable
income. Of
these, EUR
4.6
million can
be used until
2033,
EUR 13.3 million
until
2034, and EUR
0.8
million can be carried forward indefinitely.
No deferred
tax assets
have been
recognised for
these losses.
The Group
records a
deferred tax
asset only
to the extent
that it is
probable that
sufficient
taxable profit
will be available
to
utilise the
losses in future
periods or
that they can
be used elsewhere
in the Group.
In accordance
with IAS 12
paragraph
52 A, no deferred
tax liabilit
y
has
been recognised
on the accumulated
distributable
earnings of
EUR 12.4 million
(21.1) in the
Estonian and
Latvian
subsidiaries.
Lindex Group
has recognised
a deferred
tax liability
of EUR 6.8
million (6.4)
for the undistributed
accumulated
distributable
earnings of
Lindex Group
plc\u2019s branch
in Estonia.
Currently,
the taxes
in Estonia
on potential
future profit
distributions
from the branch
would not be
deductible
against taxes
payable in
Finland.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_46": { "value": "
Deferred
tax is recognised
for temporary
differences
between the
tax bases of
assets and
liabilities
and their carrying
amounts at
the reporting
date. Deferred
tax is not
recognised
on goodwill
impairment,
which is non-deductible
for tax purposes.
Deferred
tax assets
and liabilities
are measured
at the tax
rates expected
to apply
when
the asset
is realised
or the liability
settled, based
on tax rates
and tax laws
enacted or
substantively
enacted at
the reporting
date.
Deferred
tax liabilities
are recognised
in full, except
for undistributed
profits of
the
Estonian and
Latvian subsidiaries,
as the Group
can control
the timing
of the reversal
and
no reversal
is expected
in the foreseeable
future. Deferred
tax assets
are recognised
to
the extent
that it is
probable that
taxable profit
will be available
against which
the
deductible
temporary differences
can be utilised.
Deferred tax
assets arising
from unused
tax losses
are recognised
only to the
extent that
the Group company
has sufficient
taxable temporary
differences
.
Alternatively,
they are recognised
when there
is other
convincing
evidence that
sufficient
taxable income
will be generated
to utilise
the unused
tax losses
or tax credits.
The Group
offsets
deferred tax
assets and deferred
tax liabilities
only if it
has a legally
enforceable
right to set
off current
tax assets
against current
tax liabilities
based on
taxable income
for the period.
In addition
,
such deferred
tax assets
and liabilities
must
relate to income taxes levied by the same tax authority, either on the same taxable entity
or on different
entities that
intend to
settle on a
net basis or
realise the
assets and
settle
the liabilities simultaneously.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_47": { "value": "
Intangible
and tangible
assets and
leasing arrangements
Leases
Group as
lessee
Accounting
policies
A right-of-use
asset and
a lease liability
is recognised
at the lease
commencement
date.
The right-of
-use asset
is initially
measured at
cost, which
comprises the
initial amount
of
the lease
liability adjusted
for any lease
payments made
at or before
the commencement
date, plus
any initial
direct costs
incurred and
an estimate
of costs to
dismantle and
remove the
underlying
asset or to
restore the
underlying
asset or the
site on which
it is
located,
less any lease
incentives
received. The
right-of-use asset
s
in Lindex
Group are
composed of
leased business
premises,
warehouses,
cars, and
other machinery
and
equipment.
The right-of
-use asset
is subsequently
depreciated
using the
straight-line
method from
the
commencement
date until
the end of
the lease term.
If the lease
transfers ownership
of
the underlying
asset to the
Group by the
end of the lease
term, or the
cost of the
right-of-
use asset
reflects that
the Group
will exercise
a purchase option,
the right-of-use
asset
will be depreciated
over the useful
life of the
underlying
asset. In
addition,
the right-of-use
asset is periodically
reduced by
impairment
losses, if
any,
and adjusted
for the amount
of
the remeasurement of the lease liability.
At the commencement
date the lease
liability is
measured
at the present
value of the
lease payments
that have
not been paid
at that date.
The lease
payments are
discounted
using the
interest rate
implicit in
the lease,
if that rate
can be readily
determined.
If that
rate cannot
be readily
determined,
the incremental
borrowing rate
is used instead.
The
incremental
borrowing
rate is the
average rate
of interest
that the Group
would have
to
pay to borrow over a similar term, and with a similar security, the funds necessary
to
obtain an
asset of a
similar value
to the right
-of-use asset
in a similar
economic
environment.
Lease payments
included in
the measurement
of the lease
liability
comprise the
following:
- fixed lease
payments,
- variable
lease payments
that depend
on an index,
initially measured
using the
index as
at the commencement
date,
- amounts
expected to
be payable
under residual
value guarantees,
- the exercise
price of a
purchase option
if it is reasonably
certain that
the option
will be
exercised,
- payments
of penalties
for terminating
the lease if
it is reasonably
certain that
the option
to terminate
will be exercised
.
The lease
term is determined
as the non-cancellable
period of a
lease, together
with
periods covered
by an option
to extend the
lease if it
is reasonably
certain that
the option
will be exercised.
Lindex division
uses a scoring
system based
on the operating
profit to
determine
if prolongation
of the original
rental period
is included
in the lease
term.
Operating
profit is measured
as a percentage
of turnover
and the higher
the percentage,
the more likely
the option
to extend
will be exercised.
The lease
liability is
later measured
at the amortised
cost using the
effective
interest
method. The
lease liability
is reassessed
when there is
a change in
future lease
payments
arising from
a change in
the index or
if there is
a change in
the estimate
of the amount
expected to
be payable
under the
residual value
guarantee or
if there is
a change in
the
assessment
of whether
purchase, extension
or termination
option will
be exercised.
When
the lease
liability is
remeasured,
a corresponding
adjustment
is made to
the carrying
amount of the
right-of-use
asset or recorded
in profit or
loss if the
carrying
amount of
the
right-of-use
asset has been
reduced to zero.
Lease modifications,
where the original
terms of a lease
agreement such
as change in
the
scope of a
lease, its contractual
duration, or
the consideration
for a lease,
are accounted
for either
as a new lease
or an adjustment
to the existing
lease. If the
modification
increases
the scope of
the lease
by adding
new assets,
and the consideration
increases
commensurately, it is treated as a separate lease.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The Group
presents
right-of-use assets
that do not
meet the definition
of investment
property in property, plant and equipment and lease liabilities in liabilities in the statement
of financial
position. When
right-of-use
assets are
transferred
to the lessee
under a
sublease agreement
and are classified
as a finance
lease, the
right-of-use assets
are
derecognised
and presented
as a lease
receivable in
the balance
sheet.
Based on the
exemption
provided by
IFRS 16, the
Group has elected
not to recognise
right-of-use
assets and lease
liabilities
for short-term
leases and
leases of
low-value
assets, including
IT-systems and
office equipment.
The Group
recognises
the lease
payments associated
with these leases
as an expense
on a straight
-line basis
over the
lease term.
Sale and
leaseback
Accounting
policies
In sale and
leaseback transactions,
where Lindex
Group sells
and then leases
back
assets, the
right-of-use
asset arising
from the leaseback
is measured
at the proportion
of
the previous
carrying amount
of the asset
that relates
to the right
-of-use retained
by the
Group. Accordingly,
Lindex Group
recognises only
the amount
of any gain
or loss that
relates to
the rights
transferred
to the buyer
-lessor.
\n
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\n
\n
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\n
\n
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\n
\n
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\n
\n
\n
\n
\n
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\n
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\n
\n
\n
\n
Right-of-use assets
2025, EUR mill.
Buildings
Machinery and
equipment
Total
Acquisition cost 1.1.
774.7
2.3
777.0
Translation difference +/-
21.0
-0.2
20.9
Increases during the period
54.9
0.1
55.0
Decreases during the period
-21.1
-0.1
-21.2
Acquisition cost 31.12.
829.5
2.2
831.7
Accumulated depreciation and impairment losses
1.1.
-319.5
-0.7
-320.3
Translation difference +/-
-8.3
-0.0
-8.3
Depreciation on reductions during the period
24.9
0.1
25.0
Depreciation, amortisation and impairment losses
during the period
-79.2
-0.6
-79.9
Accumulated depreciation and impairment losses
31.12.
-382.2
-1.3
-383.5
Carrying amount 1.1.
455.2
1.6
456.8
Carrying amount 31.12.
447.3
1.0
448.3
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
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\n
\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
2024, EUR mill.
Buildings
Machinery and
equipment
Total
Acquisition cost 1.1.
714.3
1.4
715.7
Translation difference +/-
-14.9
-0.0
-14.9
Increases during the period
92.8
1.4
94.2
Decreases during the period
-17.6
-0.5
-18.0
Acquisition cost 31.12.
774.7
2.3
777.0
Accumulated depreciation and impairment losses
1.1.
-274.6
-0.6
-275.2
Translation difference +/-
7.4
0.0
7.4
Depreciation on reductions during the period
24.5
0.4
24.9
Depreciation, amortisation and impairment losses
during the period
-76.8
-0.6
-77.4
Accumulated depreciation and impairment losses
31.12.
-319.5
-0.7
-320.3
Carrying amount 1.1.
439.7
0.9
440.5
Carrying amount 31.12.
455.2
1.6
456.8
In 2025 and 2024 increases of right-of use assets
are mainly due to extensions to the contracts,
price
increases and new Lindex store openings. Decreases
mainly relate to changes in terms of lease
agreements for business premises.
Department store properties in Helsinki, Tallinn and Riga were sold and leased back in
2021 and
2022.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Carrying amount 31.12. by operating segments
EUR mill.
2025
2024
Lindex
263.9
252.4
Stockmann
184.4
204.4
Total
448.3
456.8
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Leases recognised in profit and loss
EUR mill.
2025
2024
Interest expenses on lease liabilities
-37.4
-36.0
Expenses relating to leases of low-value assets
-1.6
-1.5
Expense relating to variable lease payments not
included in lease liabilities
-3.5
-2.9
Total
-42.4
-40.4
Total cash outflow for leases in 2025 was EUR 117.0 (109.8) million.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Group as lessor
Accounting
policies
When the Group
acts as a
lessor,
for each lease
at the lease
inception it
is determined
whether it
is a finance
lease or an
operating
lease. A lease
is a finance
lease if
substantially
all of the
risks and rewards
incidental
to ownership
of the underlying
asset
are transferred
to the lessee,
otherwise
it is an operating
lease. All
leases in
which Lindex
Group acts
as a lessor
on 31 December
2025 and 31
December 202
4
are operating
leases. The
Group recognises
lease payments
received under
operating leases
as
income on
a straight-line
basis over
the lease term
as part of
revenue.
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
Minumum lease payments on non-cancellable operating
leases
EUR mill.
2025
2024
Within one year
6.2
5.8
Between one and five years
4.7
12.1
Total
10.9
17.9
\n
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\n
\n
\n
\n
\n
Lease commitments
Lease agreements on the Group's business premises
EUR mill.
2025
2024
Within one year
5.8
6.1
After one year
19.2
12.4
Total
25.1
18.5
Group's lease payments
EUR mill.
2025
2024
Within one year
0.1
0.1
After one year
0.1
0.2
Total
0.1
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_48": { "value": "
Intangible
and tangible
assets and
leasing arrangements
Property,
plant and equipment
Accounting
policies
Machinery and equipment constitute the majority of property, plant and
equipment. This
category
also includes
modification
and renovation
costs of leased
premises such
as
interior finishing
work in commercial
premises located
in leased buildings.
Property, plant and equipment are measured in the statement of financial position at
original
acquisition
cost,
less accumulated
depreciation
and any impairment
losses. The
acquisition cost of self-constructed assets includes materials and direct labour. Where an
item of property, plant and equipment comprises several components with differing useful
lives, the
components
are treated
as separate
items. Subsequent
expenditure
is
capitalised
only when
it increases
the future useful
life of the
asset;
other costs,
such as
routine maintenance
and repair,
are recognised
in the income
statement
as operating
expenses when
incurred.
Depreciation
is calculated
on a straight
-line basis
over the estimated
useful lives
of the
assets.
The estimated
useful lives
are:
Buildings
20-25 years
Warehouse automation
10-15 years
Modification
and renovation
of leased
premises
5\u201320 years
Machinery
and equipment
3\u201315 years
ICT equipment
3\u20135 years
Lightweight
store fixtures
and equipment
3\u20138 years
The Group
reviews the
estimated
residual values
and expected
useful lives
of property,
plant and
equipment
annually and
adjusts them
prospectively
where appropriate.
The
review includes
climate-related
considerations,
including
physical and
transition
risks. In
particular
,
the Group assesses
whether the
climate-related
legislation
and regulations
might impact
useful lives
or residual
values of
the assets.
As at reporting
date,
climate-
related considerations
had no impact
on the useful
lives or valuation
of these assets.
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Property, plant and equipment, EUR mill.
2025
Land and water
Buildings and
constructions
Machinery and
equipment
Modification and
renovation
expenses for leased
premises
Right-of-use assets
Advance payments
and construction in
progress
Property, plant and
equipment, total
Acquisition cost 1.1.
0.2
0.0
259.0
9.2
777.0
88.3
1,133.7
Translation difference +/-
0.1
0.9
5.1
1.2
20.9
4.0
32.1
Increases during the period
1.9
7.9
5.1
55.0
4.4
74.3
Decreases during the period
-20.6
-1.7
-21.2
-43.5
Transfers between items during the period
41.1
-71.4
74.7
-45.3
-0.9
Acquisition cost 31.12.
2.2
42.0
180.0
88.5
831.7
51.4
1,195.8
Accumulated depreciation 1.1.
0.0
-210.4
-5.5
-320.3
-536.2
Translation difference +/-
-0.0
-4.0
-1.0
-8.3
-13.4
Depreciation on reductions during the period
20.6
1.7
25.0
47.3
Transfers between items during the period
63.8
-63.8
0.0
Depreciation and impairment losses during the
period
-1.0
-10.1
-4.5
-79.9
-95.4
Accumulated depreciation 31.12.
-1.0
-140.2
-73.1
-383.5
-597.7
Carrying amount 1.1.
0.2
0.0
48.6
3.6
456.8
88.3
597.5
Carrying amount 31.12.
2.2
41.0
39.8
15.4
448.3
51.4
598.1
Property, plant and equipment, EUR mill.
2024
Acquisition cost 1.1.
0.2
-0.0
249.3
8.8
715.7
77.9
1,051.9
Translation difference +/-
-0.0
-6.9
-14.9
-2.5
-24.3
Increases during the period
0.0
19.2
94.2
15.5
128.9
Decreases during the period
-4.7
-0.2
-18.0
-22.9
Transfers between items during the period
2.0
0.5
-2.6
Acquisition cost 31.12.
0.2
-0.0
259.0
9.2
777.0
88.3
1,133.7
Accumulated depreciation 1.1.
0.0
-210.0
-4.6
-275.2
-489.8
Translation difference +/-
6.4
7.4
13.8
Depreciation on reductions during the period
4.6
0.2
24.9
29.7
Depreciation and impairment losses during the
period
-11.4
-1.1
-77.4
-89.8
Accumulated depreciation 31.12.
0.0
-210.4
-5.5
-320.3
-536.2
Carrying amount 1.1.
0.2
0.0
39.3
4.2
440.5
77.9
562.1
Carrying amount 31.12.
0.2
0.0
48.6
3.6
456.8
88.3
597.5
In 2025 and 2024 advance payments and
construction in progress relate mainly to the
construction of the Lindex division's new omnichannel
distribution centre. The new facility is planned
to be fully operational
during the first half of 2026. No impairment has
been recorded in relation to assets. However, future uncertainty
in achieving cash flows could trigger an impairment.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_49": { "value": "
Intangible
and tangible
assets and
leasing arrangements
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Goodwill and
other intangible
assets
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Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
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Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Subsequent
expenditure
related to intangible
assets is capitalised
only when
it enhances
the future
economic benefits
of the asset.
All other costs
are recognised
as operating
expenses when
incurred.
For cloud computing
arrangements
(Software-as-a-Service
or SaaS), service
contracts
grant the
Group with
the right to
access the
cloud provider\u2019s
application
software
over the
contract
period. Implementation
costs, including
configuration
or customisation
of the
cloud provider\u2019s
application
software,
are recognised
as operating
expenses when
the
services are
received. When
the supplier
provides both
configuration
and customisation
services,
judgement is
applied to
determine
whether these
services are
distinct from
the
underlying
SaaS application.
Distinct configuration
and customisation
costs are
expensed
as incurred,
while non-distinct
costs are
expensed over
the SaaS contract
term.
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\n
Intangible assets, EUR mill. 2025
Goodwill
Trademark
Intangible rights
Other intangible
assets
Advance payments
and construction in
progress
Intangible assets,
total
Acquisition cost 1.1.
613.2
79.6
91.5
3.3
1.0
788.7
Translation difference +/-
36.1
4.7
4.9
0.0
-0.0
45.8
Increases during the period
10.0
0.2
1.5
11.7
Decreases during the period
-2.3
-2.3
Transfers between items during the period
2.6
-1.7
0.9
Acquisition cost 31.12.
649.4
84.3
106.7
3.5
0.9
844.7
Accumulated amortisation 1.1.
-370.7
-0.3
-58.2
-3.1
-432.3
Translation difference +/-
-21.7
-0.0
-3.2
0.0
-24.9
Amortisation on reductions during the period
2.3
2.3
Amortisation and impairment losses during the period
-9.3
-0.1
-9.3
Accumulated amortisation 31.12.
-392.3
-0.3
-68.4
-3.2
-464.1
Carrying amount 1.1.
242.6
79.3
33.3
0.2
1.0
356.4
Carrying amount 31.12.
257.0
84.0
38.4
0.3
0.9
380.6
Intangible assets, EUR mill. 2024
Acquisition cost 1.1.
633.3
82.2
103.5
3.3
0.7
823.1
Translation difference +/-
-20.1
-2.6
-2.3
0.0
0.0
-25.0
Increases during the period
9.8
1.2
11.0
Decreases during the period
-20.4
-20.4
Transfers between items during the period
0.9
-0.0
-0.9
-0.0
Acquisition cost 31.12.
613.2
79.6
91.5
3.3
1.0
788.7
Accumulated amortisation 1.1.
-382.7
-0.3
-71.2
-3.0
-457.1
Translation difference +/-
12.0
0.0
1.6
-0.0
13.6
Amortisation on reductions during the period
20.4
20.4
Amortisation and impairment losses during the period
-8.9
-0.2
-9.1
Accumulated amortisation 31.12.
-370.7
-0.3
-58.2
-3.1
-432.3
Carrying amount 1.1.
250.6
81.9
32.4
0.4
0.7
366.0
Carrying amount 31.12.
242.6
79.3
33.3
0.2
1.0
356.4
Impairment testing
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
Under IFRS
8, Lindex
Group\u2019s reportable
segments comprise
the Lindex
fashion chain
and Stockmann
\u2019s department
store business,
both of which
are treated
as cash-
generating
units. The
assets
of these segments
are tested
for impairment
either during
the preparation
of the financial
statements
or whenever
indicators
of impairment
arise.
Since 2019,
Lindex has achieved
revenue growth
of approximately
3% CAGR (Compound
Annual Growth
Rate), predominantly
attributed
to its digital
expansion
efforts. The
strategic
plan is to
maintain this
growth momentum
in the coming
years, with
financial
targets set
at 3-5% annual
growth in the
mid-term, aiming
to reach EUR 900 million (SEK
10 billion) in the long term. Additionally, the digital share is targeted to increase from 22% in
2025 to 30% in the mid-term, reflecting a strong strategic emphasis on digital advancement.
To
enhance both
growth and profitability,
Lindex has
started to
implement a
new fully
automated
logistics centr
e
for e-commerce
during 2025
with an expected
launch in
2026.
This strategic
move is designed
to bolster
digital sales
and explore
new sales
channels.
Regarding
financial performance,
the adjusted
operating margin
is targeted
to reach 15%
in the long
-term, while
broadly maintaining
the current
levels in the
mid-term.
This dual
focus on sustained
growth and
profitability
reflects Lindex\u2019s
commitment
to a balanced
and sustainable business strategy. The implementation of the new logistics centre is
anticipated
to play a
pivotal role
in achieving
these targets,
providing
a robust
infrastructure
for digital
expansion and
diversification
into new channels.
Despite the
impact of inflation
on consumer
confidence
in recent
years, Lindex
has
predominantly
grown internationally
acquiring
new customers.
While lower
consumer
confidence
is anticipated
to affect
the retail
market in
the coming
years, Lindex
aims to
mitigate
this impact,
drawing from
its experience
in navigating
similar challenges
in the
past.
The Group
has concluded
that no single
climate-related
assumption
is a key assumption
for the 202
5
test of goodwill.
Lindex has
incorporated
its expectations
for the changing
consumer needs
and consumption
habits, expected
cost increases
due to stricter
recycling
requirements
and more sustainably
sourced materials
as well as
higher energy
and freight
cost due to
climate change
in the cash
-flow forecasts
when assessing
value-
in-use amounts.
As at 31
December 202
5, there are
no indicators
of impairment
.
Goodwill of
EUR 257.0
(242.6)
million is
allocated
to the Lindex
segment, and
the Lindex
trademark,
valued at
EUR 84.0
(79.3)
million, is
fully allocated
to the same
segment.
The Lindex
brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
With a 70-year
history,
the Group intends
to continue
leveraging
the brand in
existing markets
and
expand into
to new markets
through both
online channels
and physical
store concepts.
Main assumptions
and variables
used in calculati
ng the value
in use of Lindex
In the impairment
testing, future
cash flows
are forecasted
based on
Lindex's strategy
and
financial
targets, while
also considering
potential
climate-related
risks. Cash
flow
projections
are prepared
using a conservative
approach and
have been approved
by the
Group Management Team. This approach ensures that financial forecasts reflect a
realistic
assessment
of potential
challenges
and uncertainties.
Management
approval
confirms the
validity and
careful consideration
applied in
preparing these
projections
as
Lindex navigates
a dynamic
business environment
.
Main variables
used in the
value in use
calculation
are:
1.
Revenue growth.
The forecasted
revenue growth
for Lindex
is based on
an
estimation
of sales expansion
in both physical
stores and
online platforms,
covering a
five-year period.
Over the past
five years,
the revenue
growth rate,
measured as
the Compound
Annual Growth
Rate (CAGR),
has been
approximately
3%. The management
has considered
the mid-term
financial
targets, coupled
with a terminal
growth rate
of 2.0% (2.0%).
These revenue
forecasts
take into
consideration
a range of
factors, including
shifts in the
economy, insights from market research, expansion initiatives in physical stores,
online channels,
and collaboration
with third-party
platforms.
A significant
catalyst
for growth
is anticipated
with the operationalisation
of Lindex\u2019s
fully automated
logistics centr
e, which is
set to become
fully operational
in 2026. This
facility is
expected to
provide robust
support for
growth, particularly
in the realm
of online
channels.
2.
Gross margins
and operating
margins.
In recent years,
Lindex has achieved
an
increase or
stability
in both gross
margins and
operating
margins. This
is
attributed
to various
strategic
actions implemented
across the
supply chain,
assortments,
strategic
pricing, cost
-efficiency
measures,
and digitali
sation
initiatives.
Despite temporary
annual fluctuations,
the aggregated
improvements
are sustained
over time,
providing confidence
in the future
outlook.
Forecasts for
Lindex's
gross margin
and operating
margin percentages
extend over
a 5-year
period. In
2025, the gross
margin was
64.4%
(65.1%), and
the adjusted
operating
margin was 11.2
%
(13.2%).
Management
anticipates
that factors
such as macroeconomic
turmoil, increases
in raw material
prices, a
shift towards
sustainable
sourcing, and
changes in
the
sales mix,
in combination
with continual
investments
to future-proof
the business,
may decrease
profitability
in the short
term, but profitability
is expected
to
gradually
improve. The
lower starting
margin is planned
to be effectively
mitigated
by continuously
streamlining
operations
through increased
automation
and
digitalisation.
This ensures
that the long
-term goal
of achieving
a 15% adjusted
operating
result remains
unchanged.
3.
Discount rate
, which is
determined
using the
weighted average
cost of capital,
based on
either the optimal
capital structure
or the average
capital structure
of
industry
peers,
and reflects
the total cost
of equity
and debt.
Its components
include the
market-specific
risk-free rate,
market risk
premium,\u202fbusiness
-specific
beta, country
risk premium,
size risk
premium,
cost of debt\u202fand
debt-to-equity
ratio, which corresponds to the capital structure typical of the retail industry.
Lease liabilities
are considered
in the calculation
of the discount
rate,
and the
corresponding
right-of-use assets
are included
in the value
of assets.
Management
has determined
the components
of discount
rate so that
market-
specific risk
-free rate,
market risk
premium, business
-specific beta,
country risk
premium and
size risk premium
are consistent
with external
sources of
information
,
and the cost
of debt reflects
the industry
average.
The discount
rate applied
is a pre-tax
rate. For
Lindex, the
discount
rate is based
on market
interest rate
s
and country-specific
risk relating
to Sweden
and Finland.
The discount
rate used
for Lindex
is 9.3% (12.1%).
Sensitivity
in determining
the recoverable
amount\u202f
In impairment
testing,
the recoverable
amount of Lindex
is significantly
higher than
the
carrying
amount of non
-current assets
and working
capital in
the statement
of financial
position.
However, due to competition and the general economic environment affecting
consumers
behaviour and
purchasing
power,
a significant
change in
the key assumptions
used could
result in the
recoverable
amount falling
below the
segment\u2019s
carrying amount
,
which would
lead to an
impairment
requirement.
A sensitivity
analysis was
performed
for Lindex
using downside
scenarios.
The scenarios
considered
were:
-
Reducing sales
growth from
the level assumed
in management\u2019s
estimates for
the cash
flow period,
including the
terminal period
;
-
Reducing the
gross margin
percentage from
the level
assumed in
management
estimates
for the cash
flow period;
including
the terminal
period;
-
Increasing
the discount
rate.
\n
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\n
\n
\n
\n
\n
\n
\n
\n
The change
in an assumption
that would
cause the
recoverable
amount to equal
the
carrying amount is presented in the table below.\u202f\u202f
Change, percentage
points
2025
Discount
rate increase
\u202f
> 8%
Decline in
sales growth
\u202f
> 13%
Decline in
Gross Margin
> 8%
Based on the
impairment
testing performed,
the headroom
continues
to be significant
(in
2024: more
than EUR 300
million).
Impairment
of goodwill.
The value-in
-use may be
impacted in
different
ways by transition
risk, such as
climate-
related legislation
and changes
in demand for
the Group\u2019s
products.
The Group has
concluded
that no single
climate-related
assumption
is a key assumption
for the goodwill
impairment
test in 2025.
Nevertheless
,
expectations
for the changing
consumer needs
and consumption
habits,
anticipated
cost increases
due to stricter
recycling requirements
and more sustainably
sourced materials
,
as well as
higher energy
and freight
cost due to
climate change
,
have been
incorporated
into the cash
-flow forecasts
when assessing
value-in-use
amounts. See
Note 3.2.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_50": { "value": "
Depreciation, amortisation and impairment losses
EUR mill.
2025
2024
Intangible assets
9.3
9.1
Buildings and constructions
1.0
Machinery and equipment
10.1
11.4
Modification and renovation expenses for leased
premises
4.5
1.1
Right-of-use assets
79.9
77.4
Depreciation and amortisation, total
104.7
99.0
Depreciation, amortisation and impairment losses,
total
104.7
99.0
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\n
Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Depreciation
is calculated
on a straight
-line basis
over the estimated
useful lives
of the
assets.
The estimated
useful lives
are:
Buildings
20-25 years
Warehouse automation
10-15 years
Modification
and renovation
of leased
premises
5\u201320 years
Machinery
and equipment
3\u201315 years
ICT equipment
3\u20135 years
Lightweight
store fixtures
and equipment
3\u20138 years
An investment
property is
initially
valued at
acquisition
cost, which
includes the
purchase
price and
any directly
attributable
expenditure.
Investment properties
are not
depreciated;
instead, changes
in fair value
are recognised
in the income
statement
in the
period in
which they
arise. These
gains or losses
are presented
separately
in the income
statement.
The right-of
-use asset
is subsequently
depreciated
using the
straight-line
method from
the
commencement
date until
the end of
the lease term.
If the lease
transfers ownership
of
the underlying
asset to the
Group by the
end of the lease
term, or the
cost of the
right-of-
use asset
reflects that
the Group
will exercise
a purchase option,
the right-of-use
asset
will be depreciated
over the useful
life of the
underlying
asset. In
addition,
the right-of-use
asset is periodically
reduced by
impairment
losses, if
any,
and adjusted
for the amount
of
the remeasurement of the lease liability.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_51": { "value": "
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Goodwill and
other intangible
assets
\n
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\n
Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
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\n
\n
Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Subsequent
expenditure
related to intangible
assets is capitalised
only when
it enhances
the future
economic benefits
of the asset.
All other costs
are recognised
as operating
expenses when
incurred.
For cloud computing
arrangements
(Software-as-a-Service
or SaaS), service
contracts
grant the
Group with
the right to
access the
cloud provider\u2019s
application
software
over the
contract
period. Implementation
costs, including
configuration
or customisation
of the
cloud provider\u2019s
application
software,
are recognised
as operating
expenses when
the
services are
received. When
the supplier
provides both
configuration
and customisation
services,
judgement is
applied to
determine
whether these
services are
distinct from
the
underlying
SaaS application.
Distinct configuration
and customisation
costs are
expensed
as incurred,
while non-distinct
costs are
expensed over
the SaaS contract
term.
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Intangible assets, EUR mill. 2025
Goodwill
Trademark
Intangible rights
Other intangible
assets
Advance payments
and construction in
progress
Intangible assets,
total
Acquisition cost 1.1.
613.2
79.6
91.5
3.3
1.0
788.7
Translation difference +/-
36.1
4.7
4.9
0.0
-0.0
45.8
Increases during the period
10.0
0.2
1.5
11.7
Decreases during the period
-2.3
-2.3
Transfers between items during the period
2.6
-1.7
0.9
Acquisition cost 31.12.
649.4
84.3
106.7
3.5
0.9
844.7
Accumulated amortisation 1.1.
-370.7
-0.3
-58.2
-3.1
-432.3
Translation difference +/-
-21.7
-0.0
-3.2
0.0
-24.9
Amortisation on reductions during the period
2.3
2.3
Amortisation and impairment losses during the period
-9.3
-0.1
-9.3
Accumulated amortisation 31.12.
-392.3
-0.3
-68.4
-3.2
-464.1
Carrying amount 1.1.
242.6
79.3
33.3
0.2
1.0
356.4
Carrying amount 31.12.
257.0
84.0
38.4
0.3
0.9
380.6
Intangible assets, EUR mill. 2024
Acquisition cost 1.1.
633.3
82.2
103.5
3.3
0.7
823.1
Translation difference +/-
-20.1
-2.6
-2.3
0.0
0.0
-25.0
Increases during the period
9.8
1.2
11.0
Decreases during the period
-20.4
-20.4
Transfers between items during the period
0.9
-0.0
-0.9
-0.0
Acquisition cost 31.12.
613.2
79.6
91.5
3.3
1.0
788.7
Accumulated amortisation 1.1.
-382.7
-0.3
-71.2
-3.0
-457.1
Translation difference +/-
12.0
0.0
1.6
-0.0
13.6
Amortisation on reductions during the period
20.4
20.4
Amortisation and impairment losses during the period
-8.9
-0.2
-9.1
Accumulated amortisation 31.12.
-370.7
-0.3
-58.2
-3.1
-432.3
Carrying amount 1.1.
250.6
81.9
32.4
0.4
0.7
366.0
Carrying amount 31.12.
242.6
79.3
33.3
0.2
1.0
356.4
Impairment testing
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
Under IFRS
8, Lindex
Group\u2019s reportable
segments comprise
the Lindex
fashion chain
and Stockmann
\u2019s department
store business,
both of which
are treated
as cash-
generating
units. The
assets
of these segments
are tested
for impairment
either during
the preparation
of the financial
statements
or whenever
indicators
of impairment
arise.
Since 2019,
Lindex has achieved
revenue growth
of approximately
3% CAGR (Compound
Annual Growth
Rate), predominantly
attributed
to its digital
expansion
efforts. The
strategic
plan is to
maintain this
growth momentum
in the coming
years, with
financial
targets set
at 3-5% annual
growth in the
mid-term, aiming
to reach EUR 900 million (SEK
10 billion) in the long term. Additionally, the digital share is targeted to increase from 22% in
2025 to 30% in the mid-term, reflecting a strong strategic emphasis on digital advancement.
To
enhance both
growth and profitability,
Lindex has
started to
implement a
new fully
automated
logistics centr
e
for e-commerce
during 2025
with an expected
launch in
2026.
This strategic
move is designed
to bolster
digital sales
and explore
new sales
channels.
Regarding
financial performance,
the adjusted
operating margin
is targeted
to reach 15%
in the long
-term, while
broadly maintaining
the current
levels in the
mid-term.
This dual
focus on sustained
growth and
profitability
reflects Lindex\u2019s
commitment
to a balanced
and sustainable business strategy. The implementation of the new logistics centre is
anticipated
to play a
pivotal role
in achieving
these targets,
providing
a robust
infrastructure
for digital
expansion and
diversification
into new channels.
Despite the
impact of inflation
on consumer
confidence
in recent
years, Lindex
has
predominantly
grown internationally
acquiring
new customers.
While lower
consumer
confidence
is anticipated
to affect
the retail
market in
the coming
years, Lindex
aims to
mitigate
this impact,
drawing from
its experience
in navigating
similar challenges
in the
past.
The Group
has concluded
that no single
climate-related
assumption
is a key assumption
for the 202
5
test of goodwill.
Lindex has
incorporated
its expectations
for the changing
consumer needs
and consumption
habits, expected
cost increases
due to stricter
recycling
requirements
and more sustainably
sourced materials
as well as
higher energy
and freight
cost due to
climate change
in the cash
-flow forecasts
when assessing
value-
in-use amounts.
As at 31
December 202
5, there are
no indicators
of impairment
.
Goodwill of
EUR 257.0
(242.6)
million is
allocated
to the Lindex
segment, and
the Lindex
trademark,
valued at
EUR 84.0
(79.3)
million, is
fully allocated
to the same
segment.
The Lindex
brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
With a 70-year
history,
the Group intends
to continue
leveraging
the brand in
existing markets
and
expand into
to new markets
through both
online channels
and physical
store concepts.
Main assumptions
and variables
used in calculati
ng the value
in use of Lindex
In the impairment
testing, future
cash flows
are forecasted
based on
Lindex's strategy
and
financial
targets, while
also considering
potential
climate-related
risks. Cash
flow
projections
are prepared
using a conservative
approach and
have been approved
by the
Group Management Team. This approach ensures that financial forecasts reflect a
realistic
assessment
of potential
challenges
and uncertainties.
Management
approval
confirms the
validity and
careful consideration
applied in
preparing these
projections
as
Lindex navigates
a dynamic
business environment
.
Main variables
used in the
value in use
calculation
are:
1.
Revenue growth.
The forecasted
revenue growth
for Lindex
is based on
an
estimation
of sales expansion
in both physical
stores and
online platforms,
covering a
five-year period.
Over the past
five years,
the revenue
growth rate,
measured as
the Compound
Annual Growth
Rate (CAGR),
has been
approximately
3%. The management
has considered
the mid-term
financial
targets, coupled
with a terminal
growth rate
of 2.0% (2.0%).
These revenue
forecasts
take into
consideration
a range of
factors, including
shifts in the
economy, insights from market research, expansion initiatives in physical stores,
online channels,
and collaboration
with third-party
platforms.
A significant
catalyst
for growth
is anticipated
with the operationalisation
of Lindex\u2019s
fully automated
logistics centr
e, which is
set to become
fully operational
in 2026. This
facility is
expected to
provide robust
support for
growth, particularly
in the realm
of online
channels.
2.
Gross margins
and operating
margins.
In recent years,
Lindex has achieved
an
increase or
stability
in both gross
margins and
operating
margins. This
is
attributed
to various
strategic
actions implemented
across the
supply chain,
assortments,
strategic
pricing, cost
-efficiency
measures,
and digitali
sation
initiatives.
Despite temporary
annual fluctuations,
the aggregated
improvements
are sustained
over time,
providing confidence
in the future
outlook.
Forecasts for
Lindex's
gross margin
and operating
margin percentages
extend over
a 5-year
period. In
2025, the gross
margin was
64.4%
(65.1%), and
the adjusted
operating
margin was 11.2
%
(13.2%).
Management
anticipates
that factors
such as macroeconomic
turmoil, increases
in raw material
prices, a
shift towards
sustainable
sourcing, and
changes in
the
sales mix,
in combination
with continual
investments
to future-proof
the business,
may decrease
profitability
in the short
term, but profitability
is expected
to
gradually
improve. The
lower starting
margin is planned
to be effectively
mitigated
by continuously
streamlining
operations
through increased
automation
and
digitalisation.
This ensures
that the long
-term goal
of achieving
a 15% adjusted
operating
result remains
unchanged.
3.
Discount rate
, which is
determined
using the
weighted average
cost of capital,
based on
either the optimal
capital structure
or the average
capital structure
of
industry
peers,
and reflects
the total cost
of equity
and debt.
Its components
include the
market-specific
risk-free rate,
market risk
premium,\u202fbusiness
-specific
beta, country
risk premium,
size risk
premium,
cost of debt\u202fand
debt-to-equity
ratio, which corresponds to the capital structure typical of the retail industry.
Lease liabilities
are considered
in the calculation
of the discount
rate,
and the
corresponding
right-of-use assets
are included
in the value
of assets.
Management
has determined
the components
of discount
rate so that
market-
specific risk
-free rate,
market risk
premium, business
-specific beta,
country risk
premium and
size risk premium
are consistent
with external
sources of
information
,
and the cost
of debt reflects
the industry
average.
The discount
rate applied
is a pre-tax
rate. For
Lindex, the
discount
rate is based
on market
interest rate
s
and country-specific
risk relating
to Sweden
and Finland.
The discount
rate used
for Lindex
is 9.3% (12.1%).
Sensitivity
in determining
the recoverable
amount\u202f
In impairment
testing,
the recoverable
amount of Lindex
is significantly
higher than
the
carrying
amount of non
-current assets
and working
capital in
the statement
of financial
position.
However, due to competition and the general economic environment affecting
consumers
behaviour and
purchasing
power,
a significant
change in
the key assumptions
used could
result in the
recoverable
amount falling
below the
segment\u2019s
carrying amount
,
which would
lead to an
impairment
requirement.
A sensitivity
analysis was
performed
for Lindex
using downside
scenarios.
The scenarios
considered
were:
-
Reducing sales
growth from
the level assumed
in management\u2019s
estimates for
the cash
flow period,
including the
terminal period
;
-
Reducing the
gross margin
percentage from
the level
assumed in
management
estimates
for the cash
flow period;
including
the terminal
period;
-
Increasing
the discount
rate.
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\n
The change
in an assumption
that would
cause the
recoverable
amount to equal
the
carrying amount is presented in the table below.\u202f\u202f
Change, percentage
points
2025
Discount
rate increase
\u202f
> 8%
Decline in
sales growth
\u202f
> 13%
Decline in
Gross Margin
> 8%
Based on the
impairment
testing performed,
the headroom
continues
to be significant
(in
2024: more
than EUR 300
million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_52": { "value": "
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Goodwill and
other intangible
assets
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Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
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Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Subsequent
expenditure
related to intangible
assets is capitalised
only when
it enhances
the future
economic benefits
of the asset.
All other costs
are recognised
as operating
expenses when
incurred.
For cloud computing
arrangements
(Software-as-a-Service
or SaaS), service
contracts
grant the
Group with
the right to
access the
cloud provider\u2019s
application
software
over the
contract
period. Implementation
costs, including
configuration
or customisation
of the
cloud provider\u2019s
application
software,
are recognised
as operating
expenses when
the
services are
received. When
the supplier
provides both
configuration
and customisation
services,
judgement is
applied to
determine
whether these
services are
distinct from
the
underlying
SaaS application.
Distinct configuration
and customisation
costs are
expensed
as incurred,
while non-distinct
costs are
expensed over
the SaaS contract
term.
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\n
Intangible assets, EUR mill. 2025
Goodwill
Trademark
Intangible rights
Other intangible
assets
Advance payments
and construction in
progress
Intangible assets,
total
Acquisition cost 1.1.
613.2
79.6
91.5
3.3
1.0
788.7
Translation difference +/-
36.1
4.7
4.9
0.0
-0.0
45.8
Increases during the period
10.0
0.2
1.5
11.7
Decreases during the period
-2.3
-2.3
Transfers between items during the period
2.6
-1.7
0.9
Acquisition cost 31.12.
649.4
84.3
106.7
3.5
0.9
844.7
Accumulated amortisation 1.1.
-370.7
-0.3
-58.2
-3.1
-432.3
Translation difference +/-
-21.7
-0.0
-3.2
0.0
-24.9
Amortisation on reductions during the period
2.3
2.3
Amortisation and impairment losses during the period
-9.3
-0.1
-9.3
Accumulated amortisation 31.12.
-392.3
-0.3
-68.4
-3.2
-464.1
Carrying amount 1.1.
242.6
79.3
33.3
0.2
1.0
356.4
Carrying amount 31.12.
257.0
84.0
38.4
0.3
0.9
380.6
Intangible assets, EUR mill. 2024
Acquisition cost 1.1.
633.3
82.2
103.5
3.3
0.7
823.1
Translation difference +/-
-20.1
-2.6
-2.3
0.0
0.0
-25.0
Increases during the period
9.8
1.2
11.0
Decreases during the period
-20.4
-20.4
Transfers between items during the period
0.9
-0.0
-0.9
-0.0
Acquisition cost 31.12.
613.2
79.6
91.5
3.3
1.0
788.7
Accumulated amortisation 1.1.
-382.7
-0.3
-71.2
-3.0
-457.1
Translation difference +/-
12.0
0.0
1.6
-0.0
13.6
Amortisation on reductions during the period
20.4
20.4
Amortisation and impairment losses during the period
-8.9
-0.2
-9.1
Accumulated amortisation 31.12.
-370.7
-0.3
-58.2
-3.1
-432.3
Carrying amount 1.1.
250.6
81.9
32.4
0.4
0.7
366.0
Carrying amount 31.12.
242.6
79.3
33.3
0.2
1.0
356.4
Impairment testing
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
Under IFRS
8, Lindex
Group\u2019s reportable
segments comprise
the Lindex
fashion chain
and Stockmann
\u2019s department
store business,
both of which
are treated
as cash-
generating
units. The
assets
of these segments
are tested
for impairment
either during
the preparation
of the financial
statements
or whenever
indicators
of impairment
arise.
Since 2019,
Lindex has achieved
revenue growth
of approximately
3% CAGR (Compound
Annual Growth
Rate), predominantly
attributed
to its digital
expansion
efforts. The
strategic
plan is to
maintain this
growth momentum
in the coming
years, with
financial
targets set
at 3-5% annual
growth in the
mid-term, aiming
to reach EUR 900 million (SEK
10 billion) in the long term. Additionally, the digital share is targeted to increase from 22% in
2025 to 30% in the mid-term, reflecting a strong strategic emphasis on digital advancement.
To
enhance both
growth and profitability,
Lindex has
started to
implement a
new fully
automated
logistics centr
e
for e-commerce
during 2025
with an expected
launch in
2026.
This strategic
move is designed
to bolster
digital sales
and explore
new sales
channels.
Regarding
financial performance,
the adjusted
operating margin
is targeted
to reach 15%
in the long
-term, while
broadly maintaining
the current
levels in the
mid-term.
This dual
focus on sustained
growth and
profitability
reflects Lindex\u2019s
commitment
to a balanced
and sustainable business strategy. The implementation of the new logistics centre is
anticipated
to play a
pivotal role
in achieving
these targets,
providing
a robust
infrastructure
for digital
expansion and
diversification
into new channels.
Despite the
impact of inflation
on consumer
confidence
in recent
years, Lindex
has
predominantly
grown internationally
acquiring
new customers.
While lower
consumer
confidence
is anticipated
to affect
the retail
market in
the coming
years, Lindex
aims to
mitigate
this impact,
drawing from
its experience
in navigating
similar challenges
in the
past.
The Group
has concluded
that no single
climate-related
assumption
is a key assumption
for the 202
5
test of goodwill.
Lindex has
incorporated
its expectations
for the changing
consumer needs
and consumption
habits, expected
cost increases
due to stricter
recycling
requirements
and more sustainably
sourced materials
as well as
higher energy
and freight
cost due to
climate change
in the cash
-flow forecasts
when assessing
value-
in-use amounts.
As at 31
December 202
5, there are
no indicators
of impairment
.
Goodwill of
EUR 257.0
(242.6)
million is
allocated
to the Lindex
segment, and
the Lindex
trademark,
valued at
EUR 84.0
(79.3)
million, is
fully allocated
to the same
segment.
The Lindex
brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
With a 70-year
history,
the Group intends
to continue
leveraging
the brand in
existing markets
and
expand into
to new markets
through both
online channels
and physical
store concepts.
Main assumptions
and variables
used in calculati
ng the value
in use of Lindex
In the impairment
testing, future
cash flows
are forecasted
based on
Lindex's strategy
and
financial
targets, while
also considering
potential
climate-related
risks. Cash
flow
projections
are prepared
using a conservative
approach and
have been approved
by the
Group Management Team. This approach ensures that financial forecasts reflect a
realistic
assessment
of potential
challenges
and uncertainties.
Management
approval
confirms the
validity and
careful consideration
applied in
preparing these
projections
as
Lindex navigates
a dynamic
business environment
.
Main variables
used in the
value in use
calculation
are:
1.
Revenue growth.
The forecasted
revenue growth
for Lindex
is based on
an
estimation
of sales expansion
in both physical
stores and
online platforms,
covering a
five-year period.
Over the past
five years,
the revenue
growth rate,
measured as
the Compound
Annual Growth
Rate (CAGR),
has been
approximately
3%. The management
has considered
the mid-term
financial
targets, coupled
with a terminal
growth rate
of 2.0% (2.0%).
These revenue
forecasts
take into
consideration
a range of
factors, including
shifts in the
economy, insights from market research, expansion initiatives in physical stores,
online channels,
and collaboration
with third-party
platforms.
A significant
catalyst
for growth
is anticipated
with the operationalisation
of Lindex\u2019s
fully automated
logistics centr
e, which is
set to become
fully operational
in 2026. This
facility is
expected to
provide robust
support for
growth, particularly
in the realm
of online
channels.
2.
Gross margins
and operating
margins.
In recent years,
Lindex has achieved
an
increase or
stability
in both gross
margins and
operating
margins. This
is
attributed
to various
strategic
actions implemented
across the
supply chain,
assortments,
strategic
pricing, cost
-efficiency
measures,
and digitali
sation
initiatives.
Despite temporary
annual fluctuations,
the aggregated
improvements
are sustained
over time,
providing confidence
in the future
outlook.
Forecasts for
Lindex's
gross margin
and operating
margin percentages
extend over
a 5-year
period. In
2025, the gross
margin was
64.4%
(65.1%), and
the adjusted
operating
margin was 11.2
%
(13.2%).
Management
anticipates
that factors
such as macroeconomic
turmoil, increases
in raw material
prices, a
shift towards
sustainable
sourcing, and
changes in
the
sales mix,
in combination
with continual
investments
to future-proof
the business,
may decrease
profitability
in the short
term, but profitability
is expected
to
gradually
improve. The
lower starting
margin is planned
to be effectively
mitigated
by continuously
streamlining
operations
through increased
automation
and
digitalisation.
This ensures
that the long
-term goal
of achieving
a 15% adjusted
operating
result remains
unchanged.
3.
Discount rate
, which is
determined
using the
weighted average
cost of capital,
based on
either the optimal
capital structure
or the average
capital structure
of
industry
peers,
and reflects
the total cost
of equity
and debt.
Its components
include the
market-specific
risk-free rate,
market risk
premium,\u202fbusiness
-specific
beta, country
risk premium,
size risk
premium,
cost of debt\u202fand
debt-to-equity
ratio, which corresponds to the capital structure typical of the retail industry.
Lease liabilities
are considered
in the calculation
of the discount
rate,
and the
corresponding
right-of-use assets
are included
in the value
of assets.
Management
has determined
the components
of discount
rate so that
market-
specific risk
-free rate,
market risk
premium, business
-specific beta,
country risk
premium and
size risk premium
are consistent
with external
sources of
information
,
and the cost
of debt reflects
the industry
average.
The discount
rate applied
is a pre-tax
rate. For
Lindex, the
discount
rate is based
on market
interest rate
s
and country-specific
risk relating
to Sweden
and Finland.
The discount
rate used
for Lindex
is 9.3% (12.1%).
Sensitivity
in determining
the recoverable
amount\u202f
In impairment
testing,
the recoverable
amount of Lindex
is significantly
higher than
the
carrying
amount of non
-current assets
and working
capital in
the statement
of financial
position.
However, due to competition and the general economic environment affecting
consumers
behaviour and
purchasing
power,
a significant
change in
the key assumptions
used could
result in the
recoverable
amount falling
below the
segment\u2019s
carrying amount
,
which would
lead to an
impairment
requirement.
A sensitivity
analysis was
performed
for Lindex
using downside
scenarios.
The scenarios
considered
were:
-
Reducing sales
growth from
the level assumed
in management\u2019s
estimates for
the cash
flow period,
including the
terminal period
;
-
Reducing the
gross margin
percentage from
the level
assumed in
management
estimates
for the cash
flow period;
including
the terminal
period;
-
Increasing
the discount
rate.
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The change
in an assumption
that would
cause the
recoverable
amount to equal
the
carrying amount is presented in the table below.\u202f\u202f
Change, percentage
points
2025
Discount
rate increase
\u202f
> 8%
Decline in
sales growth
\u202f
> 13%
Decline in
Gross Margin
> 8%
Based on the
impairment
testing performed,
the headroom
continues
to be significant
(in
2024: more
than EUR 300
million).
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_53": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Goodwill and
other intangible
assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Subsequent
expenditure
related to intangible
assets is capitalised
only when
it enhances
the future
economic benefits
of the asset.
All other costs
are recognised
as operating
expenses when
incurred.
For cloud computing
arrangements
(Software-as-a-Service
or SaaS), service
contracts
grant the
Group with
the right to
access the
cloud provider\u2019s
application
software
over the
contract
period. Implementation
costs, including
configuration
or customisation
of the
cloud provider\u2019s
application
software,
are recognised
as operating
expenses when
the
services are
received. When
the supplier
provides both
configuration
and customisation
services,
judgement is
applied to
determine
whether these
services are
distinct from
the
underlying
SaaS application.
Distinct configuration
and customisation
costs are
expensed
as incurred,
while non-distinct
costs are
expensed over
the SaaS contract
term.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_54": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accounting
policies
Goodwill
represents
the excess
of the consideration
transferred,
measured at
fair value,
over the fair
value of the
identifiable
net assets
acquired, measured
at fair value.
Neither
goodwill nor
the Lindex
brand is amortised.
The brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
Goodwill and
the brand are
carried at
original
acquisition
cost less any
accumulated
impairment
losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_55": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Subsequent
expenditure
related to intangible
assets is capitalised
only when
it enhances
the future
economic benefits
of the asset.
All other costs
are recognised
as operating
expenses when
incurred.
For cloud computing
arrangements
(Software-as-a-Service
or SaaS), service
contracts
grant the
Group with
the right to
access the
cloud provider\u2019s
application
software
over the
contract
period. Implementation
costs, including
configuration
or customisation
of the
cloud provider\u2019s
application
software,
are recognised
as operating
expenses when
the
services are
received. When
the supplier
provides both
configuration
and customisation
services,
judgement is
applied to
determine
whether these
services are
distinct from
the
underlying
SaaS application.
Distinct configuration
and customisation
costs are
expensed
as incurred,
while non-distinct
costs are
expensed over
the SaaS contract
term.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_56": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Other intangible
assets comprise
intangible
rights and
software,
which are measured
at
original
acquisition
cost. These
assets are
amortised on
a straight-line
basis over
their
estimated
useful lives:
Software
3\u201310 years
Patents
6 years
Other intangible
rights
5 years
Depreciation
is calculated
on a straight
-line basis
over the estimated
useful lives
of the
assets.
The estimated
useful lives
are:
Buildings
20-25 years
Warehouse automation
10-15 years
Modification
and renovation
of leased
premises
5\u201320 years
Machinery
and equipment
3\u201315 years
ICT equipment
3\u20135 years
Lightweight
store fixtures
and equipment
3\u20138 years
An investment
property is
initially
valued at
acquisition
cost, which
includes the
purchase
price and
any directly
attributable
expenditure.
Investment properties
are not
depreciated;
instead, changes
in fair value
are recognised
in the income
statement
in the
period in
which they
arise. These
gains or losses
are presented
separately
in the income
statement.
The right-of
-use asset
is subsequently
depreciated
using the
straight-line
method from
the
commencement
date until
the end of
the lease term.
If the lease
transfers ownership
of
the underlying
asset to the
Group by the
end of the lease
term, or the
cost of the
right-of-
use asset
reflects that
the Group
will exercise
a purchase option,
the right-of-use
asset
will be depreciated
over the useful
life of the
underlying
asset. In
addition,
the right-of-use
asset is periodically
reduced by
impairment
losses, if
any,
and adjusted
for the amount
of
the remeasurement of the lease liability.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_57": { "value": "
Impairment testing
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
Climate-related
matters
Accounting
policies
Lindex Group
considers
climate-related
matters in
estimates and
assumptions,
where
appropriate.
The assessment
includes possible
impacts on
the Group
due to physical
and
transition
risks. The
Group believes
that its business
model and
products will
remain
viable in a future low-carbon economy
.
However,
climate-related matters increase the
uncertainty
in estimates
and assumptions
related to certain
items in the
financial
statements.
Even though
climate-related
risks might
not currently
have a significant
impact on
estimates and
assumptions
,
the Group
closely monitor
s
relevant changes
and
developments,
including climate
-related legislation
and changes
in customer
behaviour.
The items
and considerations
which are
recognised as
most directly
impacted by
climate-
related matters
are:
Impairment
of goodwill.
The value-in
-use may be
impacted in
different
ways by transition
risk, such as
climate-
related legislation
and changes
in demand for
the Group\u2019s
products.
The Group has
concluded
that no single
climate-related
assumption
is a key assumption
for the goodwill
impairment
test in 2025.
Nevertheless
,
expectations
for the changing
consumer needs
and consumption
habits,
anticipated
cost increases
due to stricter
recycling requirements
and more sustainably
sourced materials
,
as well as
higher energy
and freight
cost due to
climate change
,
have been
incorporated
into the cash
-flow forecasts
when assessing
value-in-use
amounts. See
Note 3.2.
Useful life of property, plant and equipment.
When reviewing
the residual
values and
expected useful
lives of assets,
the Group
considers
climate-related
matters, including
legislation
and regulations
that may
restrict
the use of
assets. See
Note 3.3.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_58": { "value": "
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_59": { "value": "
Accounting
policies
The carrying
amounts of
assets are
regularly
assessed to
identify potential
indicators
of
impairment.
When such
indicators exist,
the recoverable
amount of
the asset is
determined.
Goodwill and
the brand are
allocated to
cash-generating
units and
tested for
impairment
annually.
If the carrying
amount of
an asset or
cash-generating
unit exceeds
its recoverable
amount, an
impairment
loss is recognised
in the income
statement.
For impairment
losses on a
cash-generating
unit, the
reduction is
first allocated
to the
goodwill. Subsequently, any remaining impairment loss is allocated proportionally to the
unit\u2019s other assets.
The recoverable
amount of intangible
and tangible
assets is
the higher
of fair value
less
costs to sell
and value in
use. Value
in use is calculated
by discounting
estimated future
cash flows
to their present
value using
a pre-tax discount
rate that reflect
s
the average
cost of capital
for the relevant
cash-generating
unit. Climate
-related risks,
both physical
and transition
al, are constantly
monitored
when determining
the recoverable
amount.
While the
Group currently
considers its
operations
not significantly
exposed to
physical
risk, value
-in-use may
be affected
by transition
risks, such as
climate-related
legislation,
regulatory changes
and shifts in
demand for
the Group\u2019s
products.
Impairment losses on property, plant and equipment and
other intangible assets
(excluding
goodwill),
may be reversed
if there is
a change in
the estimates
used to
determine
the recoverable amount.
However, any reversal cannot exceed the carrying
amount that
would have
been determined
if no impairment
loss had been
recognised
in
previous periods.
Under IFRS
8, Lindex
Group\u2019s reportable
segments comprise
the Lindex
fashion chain
and Stockmann
\u2019s department
store business,
both of which
are treated
as cash-
generating
units. The
assets
of these segments
are tested
for impairment
either during
the preparation
of the financial
statements
or whenever
indicators
of impairment
arise.
Since 2019,
Lindex has achieved
revenue growth
of approximately
3% CAGR (Compound
Annual Growth
Rate), predominantly
attributed
to its digital
expansion
efforts. The
strategic
plan is to
maintain this
growth momentum
in the coming
years, with
financial
targets set
at 3-5% annual
growth in the
mid-term, aiming
to reach EUR 900 million (SEK
10 billion) in the long term. Additionally, the digital share is targeted to increase from 22% in
2025 to 30% in the mid-term, reflecting a strong strategic emphasis on digital advancement.
To
enhance both
growth and profitability,
Lindex has
started to
implement a
new fully
automated
logistics centr
e
for e-commerce
during 2025
with an expected
launch in
2026.
This strategic
move is designed
to bolster
digital sales
and explore
new sales
channels.
Regarding
financial performance,
the adjusted
operating margin
is targeted
to reach 15%
in the long
-term, while
broadly maintaining
the current
levels in the
mid-term.
This dual
focus on sustained
growth and
profitability
reflects Lindex\u2019s
commitment
to a balanced
and sustainable business strategy. The implementation of the new logistics centre is
anticipated
to play a
pivotal role
in achieving
these targets,
providing
a robust
infrastructure
for digital
expansion and
diversification
into new channels.
Despite the
impact of inflation
on consumer
confidence
in recent
years, Lindex
has
predominantly
grown internationally
acquiring
new customers.
While lower
consumer
confidence
is anticipated
to affect
the retail
market in
the coming
years, Lindex
aims to
mitigate
this impact,
drawing from
its experience
in navigating
similar challenges
in the
past.
The Group
has concluded
that no single
climate-related
assumption
is a key assumption
for the 202
5
test of goodwill.
Lindex has
incorporated
its expectations
for the changing
consumer needs
and consumption
habits, expected
cost increases
due to stricter
recycling
requirements
and more sustainably
sourced materials
as well as
higher energy
and freight
cost due to
climate change
in the cash
-flow forecasts
when assessing
value-
in-use amounts.
As at 31
December 202
5, there are
no indicators
of impairment
.
Goodwill of
EUR 257.0
(242.6)
million is
allocated
to the Lindex
segment, and
the Lindex
trademark,
valued at
EUR 84.0
(79.3)
million, is
fully allocated
to the same
segment.
The Lindex
brand is
considered
to have an
indefinite
useful life
due to its
high awareness.
With a 70-year
history,
the Group intends
to continue
leveraging
the brand in
existing markets
and
expand into
to new markets
through both
online channels
and physical
store concepts.
Main assumptions
and variables
used in calculati
ng the value
in use of Lindex
In the impairment
testing, future
cash flows
are forecasted
based on
Lindex's strategy
and
financial
targets, while
also considering
potential
climate-related
risks. Cash
flow
projections
are prepared
using a conservative
approach and
have been approved
by the
Group Management Team. This approach ensures that financial forecasts reflect a
realistic
assessment
of potential
challenges
and uncertainties.
Management
approval
confirms the
validity and
careful consideration
applied in
preparing these
projections
as
Lindex navigates
a dynamic
business environment
.
Main variables
used in the
value in use
calculation
are:
1.
Revenue growth.
The forecasted
revenue growth
for Lindex
is based on
an
estimation
of sales expansion
in both physical
stores and
online platforms,
covering a
five-year period.
Over the past
five years,
the revenue
growth rate,
measured as
the Compound
Annual Growth
Rate (CAGR),
has been
approximately
3%. The management
has considered
the mid-term
financial
targets, coupled
with a terminal
growth rate
of 2.0% (2.0%).
These revenue
forecasts
take into
consideration
a range of
factors, including
shifts in the
economy, insights from market research, expansion initiatives in physical stores,
online channels,
and collaboration
with third-party
platforms.
A significant
catalyst
for growth
is anticipated
with the operationalisation
of Lindex\u2019s
fully automated
logistics centr
e, which is
set to become
fully operational
in 2026. This
facility is
expected to
provide robust
support for
growth, particularly
in the realm
of online
channels.
2.
Gross margins
and operating
margins.
In recent years,
Lindex has achieved
an
increase or
stability
in both gross
margins and
operating
margins. This
is
attributed
to various
strategic
actions implemented
across the
supply chain,
assortments,
strategic
pricing, cost
-efficiency
measures,
and digitali
sation
initiatives.
Despite temporary
annual fluctuations,
the aggregated
improvements
are sustained
over time,
providing confidence
in the future
outlook.
Forecasts for
Lindex's
gross margin
and operating
margin percentages
extend over
a 5-year
period. In
2025, the gross
margin was
64.4%
(65.1%), and
the adjusted
operating
margin was 11.2
%
(13.2%).
Management
anticipates
that factors
such as macroeconomic
turmoil, increases
in raw material
prices, a
shift towards
sustainable
sourcing, and
changes in
the
sales mix,
in combination
with continual
investments
to future-proof
the business,
may decrease
profitability
in the short
term, but profitability
is expected
to
gradually
improve. The
lower starting
margin is planned
to be effectively
mitigated
by continuously
streamlining
operations
through increased
automation
and
digitalisation.
This ensures
that the long
-term goal
of achieving
a 15% adjusted
operating
result remains
unchanged.
3.
Discount rate
, which is
determined
using the
weighted average
cost of capital,
based on
either the optimal
capital structure
or the average
capital structure
of
industry
peers,
and reflects
the total cost
of equity
and debt.
Its components
include the
market-specific
risk-free rate,
market risk
premium,\u202fbusiness
-specific
beta, country
risk premium,
size risk
premium,
cost of debt\u202fand
debt-to-equity
ratio, which corresponds to the capital structure typical of the retail industry.
Lease liabilities
are considered
in the calculation
of the discount
rate,
and the
corresponding
right-of-use assets
are included
in the value
of assets.
Management
has determined
the components
of discount
rate so that
market-
specific risk
-free rate,
market risk
premium, business
-specific beta,
country risk
premium and
size risk premium
are consistent
with external
sources of
information
,
and the cost
of debt reflects
the industry
average.
The discount
rate applied
is a pre-tax
rate. For
Lindex, the
discount
rate is based
on market
interest rate
s
and country-specific
risk relating
to Sweden
and Finland.
The discount
rate used
for Lindex
is 9.3% (12.1%).
Sensitivity
in determining
the recoverable
amount\u202f
In impairment
testing,
the recoverable
amount of Lindex
is significantly
higher than
the
carrying
amount of non
-current assets
and working
capital in
the statement
of financial
position.
However, due to competition and the general economic environment affecting
consumers
behaviour and
purchasing
power,
a significant
change in
the key assumptions
used could
result in the
recoverable
amount falling
below the
segment\u2019s
carrying amount
,
which would
lead to an
impairment
requirement.
A sensitivity
analysis was
performed
for Lindex
using downside
scenarios.
The scenarios
considered
were:
-
Reducing sales
growth from
the level assumed
in management\u2019s
estimates for
the cash
flow period,
including the
terminal period
;
-
Reducing the
gross margin
percentage from
the level
assumed in
management
estimates
for the cash
flow period;
including
the terminal
period;
-
Increasing
the discount
rate.
\n
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\n
\n
The change
in an assumption
that would
cause the
recoverable
amount to equal
the
carrying amount is presented in the table below.\u202f\u202f
Change, percentage
points
2025
Discount
rate increase
\u202f
> 8%
Decline in
sales growth
\u202f
> 13%
Decline in
Gross Margin
> 8%
Based on the
impairment
testing performed,
the headroom
continues
to be significant
(in
2024: more
than EUR 300
million).
Impairment
of goodwill.
The value-in
-use may be
impacted in
different
ways by transition
risk, such as
climate-
related legislation
and changes
in demand for
the Group\u2019s
products.
The Group has
concluded
that no single
climate-related
assumption
is a key assumption
for the goodwill
impairment
test in 2025.
Nevertheless
,
expectations
for the changing
consumer needs
and consumption
habits,
anticipated
cost increases
due to stricter
recycling requirements
and more sustainably
sourced materials
,
as well as
higher energy
and freight
cost due to
climate change
,
have been
incorporated
into the cash
-flow forecasts
when assessing
value-in-use
amounts. See
Note 3.2.
Useful life of property, plant and equipment.
When reviewing
the residual
values and
expected useful
lives of assets,
the Group
considers
climate-related
matters, including
legislation
and regulations
that may
restrict
the use of
assets. See
Note 3.3.
", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_60": { "value": "
Property,
plant and equipment
Accounting
policies
Machinery and equipment constitute the majority of property, plant and
equipment. This
category
also includes
modification
and renovation
costs of leased
premises such
as
interior finishing
work in commercial
premises located
in leased buildings.
Property, plant and equipment are measured in the statement of financial position at
original
acquisition
cost,
less accumulated
depreciation
and any impairment
losses. The
acquisition cost of self-constructed assets includes materials and direct labour. Where an
item of property, plant and equipment comprises several components with differing useful
lives, the
components
are treated
as separate
items. Subsequent
expenditure
is
capitalised
only when
it increases
the future useful
life of the
asset;
other costs,
such as
routine maintenance
and repair,
are recognised
in the income
statement
as operating
expenses when
incurred.
Depreciation
is calculated
on a straight
-line basis
over the estimated
useful lives
of the
assets.
The estimated
useful lives
are:
Buildings
20-25 years
Warehouse automation
10-15 years
Modification
and renovation
of leased
premises
5\u201320 years
Machinery
and equipment
3\u201315 years
ICT equipment
3\u20135 years
Lightweight
store fixtures
and equipment
3\u20138 years
The Group
reviews the
estimated
residual values
and expected
useful lives
of property,
plant and
equipment
annually and
adjusts them
prospectively
where appropriate.
The
review includes
climate-related
considerations,
including
physical and
transition
risks. In
particular
,
the Group assesses
whether the
climate-related
legislation
and regulations
might impact
useful lives
or residual
values of
the assets.
As at reporting
date,
climate-
related considerations
had no impact
on the useful
lives or valuation
of these assets.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_61": { "value": "
Investment property
Accounting
policies
When the Group
holds land
or building
to earn rental
income or
for appreciation
rather
than for its
own retail
or administrative
purposes, the
property is
classified
as an
investment
property in
accordance
with IAS 40.
An investment
property is
initially
valued at
acquisition
cost, which
includes the
purchase
price and
any directly
attributable
expenditure.
Investment properties
are not
depreciated;
instead, changes
in fair value
are recognised
in the income
statement
in the
period in
which they
arise. These
gains or losses
are presented
separately
in the income
statement.
The Tapiolan S\u00e4\u00e4st\u00f6tammi property in Espoo, of which
the Group owns 37.8%, is
classified
as an investment
property in
accordance
with IAS 40.
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Fair value at 1.1.
0.5
0.5
Fair value at 31.12.
0.5
0.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_62": { "value": "
Accounting
policies
When the Group
holds land
or building
to earn rental
income or
for appreciation
rather
than for its
own retail
or administrative
purposes, the
property is
classified
as an
investment
property in
accordance
with IAS 40.
An investment
property is
initially
valued at
acquisition
cost, which
includes the
purchase
price and
any directly
attributable
expenditure.
Investment properties
are not
depreciated;
instead, changes
in fair value
are recognised
in the income
statement
in the
period in
which they
arise. These
gains or losses
are presented
separately
in the income
statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_63": { "value": "
Group as
lessee
Accounting
policies
A right-of-use
asset and
a lease liability
is recognised
at the lease
commencement
date.
The right-of
-use asset
is initially
measured at
cost, which
comprises the
initial amount
of
the lease
liability adjusted
for any lease
payments made
at or before
the commencement
date, plus
any initial
direct costs
incurred and
an estimate
of costs to
dismantle and
remove the
underlying
asset or to
restore the
underlying
asset or the
site on which
it is
located,
less any lease
incentives
received. The
right-of-use asset
s
in Lindex
Group are
composed of
leased business
premises,
warehouses,
cars, and
other machinery
and
equipment.
The right-of
-use asset
is subsequently
depreciated
using the
straight-line
method from
the
commencement
date until
the end of
the lease term.
If the lease
transfers ownership
of
the underlying
asset to the
Group by the
end of the lease
term, or the
cost of the
right-of-
use asset
reflects that
the Group
will exercise
a purchase option,
the right-of-use
asset
will be depreciated
over the useful
life of the
underlying
asset. In
addition,
the right-of-use
asset is periodically
reduced by
impairment
losses, if
any,
and adjusted
for the amount
of
the remeasurement of the lease liability.
At the commencement
date the lease
liability is
measured
at the present
value of the
lease payments
that have
not been paid
at that date.
The lease
payments are
discounted
using the
interest rate
implicit in
the lease,
if that rate
can be readily
determined.
If that
rate cannot
be readily
determined,
the incremental
borrowing rate
is used instead.
The
incremental
borrowing
rate is the
average rate
of interest
that the Group
would have
to
pay to borrow over a similar term, and with a similar security, the funds necessary
to
obtain an
asset of a
similar value
to the right
-of-use asset
in a similar
economic
environment.
Lease payments
included in
the measurement
of the lease
liability
comprise the
following:
- fixed lease
payments,
- variable
lease payments
that depend
on an index,
initially measured
using the
index as
at the commencement
date,
- amounts
expected to
be payable
under residual
value guarantees,
- the exercise
price of a
purchase option
if it is reasonably
certain that
the option
will be
exercised,
- payments
of penalties
for terminating
the lease if
it is reasonably
certain that
the option
to terminate
will be exercised
.
The lease
term is determined
as the non-cancellable
period of a
lease, together
with
periods covered
by an option
to extend the
lease if it
is reasonably
certain that
the option
will be exercised.
Lindex division
uses a scoring
system based
on the operating
profit to
determine
if prolongation
of the original
rental period
is included
in the lease
term.
Operating
profit is measured
as a percentage
of turnover
and the higher
the percentage,
the more likely
the option
to extend
will be exercised.
The lease
liability is
later measured
at the amortised
cost using the
effective
interest
method. The
lease liability
is reassessed
when there is
a change in
future lease
payments
arising from
a change in
the index or
if there is
a change in
the estimate
of the amount
expected to
be payable
under the
residual value
guarantee or
if there is
a change in
the
assessment
of whether
purchase, extension
or termination
option will
be exercised.
When
the lease
liability is
remeasured,
a corresponding
adjustment
is made to
the carrying
amount of the
right-of-use
asset or recorded
in profit or
loss if the
carrying
amount of
the
right-of-use
asset has been
reduced to zero.
Lease modifications,
where the original
terms of a lease
agreement such
as change in
the
scope of a
lease, its contractual
duration, or
the consideration
for a lease,
are accounted
for either
as a new lease
or an adjustment
to the existing
lease. If the
modification
increases
the scope of
the lease
by adding
new assets,
and the consideration
increases
commensurately, it is treated as a separate lease.
\n
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\n
\n
\n
\n
\n
\n
The Group
presents
right-of-use assets
that do not
meet the definition
of investment
property in property, plant and equipment and lease liabilities in liabilities in the statement
of financial
position. When
right-of-use
assets are
transferred
to the lessee
under a
sublease agreement
and are classified
as a finance
lease, the
right-of-use assets
are
derecognised
and presented
as a lease
receivable in
the balance
sheet.
Based on the
exemption
provided by
IFRS 16, the
Group has elected
not to recognise
right-of-use
assets and lease
liabilities
for short-term
leases and
leases of
low-value
assets, including
IT-systems and
office equipment.
The Group
recognises
the lease
payments associated
with these leases
as an expense
on a straight
-line basis
over the
lease term.
Sale and
leaseback
Accounting
policies
In sale and
leaseback transactions,
where Lindex
Group sells
and then leases
back
assets, the
right-of-use
asset arising
from the leaseback
is measured
at the proportion
of
the previous
carrying amount
of the asset
that relates
to the right
-of-use retained
by the
Group. Accordingly,
Lindex Group
recognises only
the amount
of any gain
or loss that
relates to
the rights
transferred
to the buyer
-lessor.
\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
Group as lessor
Accounting
policies
When the Group
acts as a
lessor,
for each lease
at the lease
inception it
is determined
whether it
is a finance
lease or an
operating
lease. A lease
is a finance
lease if
substantially
all of the
risks and rewards
incidental
to ownership
of the underlying
asset
are transferred
to the lessee,
otherwise
it is an operating
lease. All
leases in
which Lindex
Group acts
as a lessor
on 31 December
2025 and 31
December 202
4
are operating
leases. The
Group recognises
lease payments
received under
operating leases
as
income on
a straight-line
basis over
the lease term
as part of
revenue.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_64": { "value": "
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Leases recognised in profit and loss
EUR mill.
2025
2024
Interest expenses on lease liabilities
-37.4
-36.0
Expenses relating to leases of low-value assets
-1.6
-1.5
Expense relating to variable lease payments not
included in lease liabilities
-3.5
-2.9
Total
-42.4
-40.4
Total cash outflow for leases in 2025 was EUR 117.0 (109.8) million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_65": { "value": "
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Leases recognised in profit and loss
EUR mill.
2025
2024
Interest expenses on lease liabilities
-37.4
-36.0
Expenses relating to leases of low-value assets
-1.6
-1.5
Expense relating to variable lease payments not
included in lease liabilities
-3.5
-2.9
Total
-42.4
-40.4
Total cash outflow for leases in 2025 was EUR 117.0 (109.8) million.
Reconciliation of liabilities arising from financing activities
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2025
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2025
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
76.1
0.1
-76.2
0.0
Current liabilities, interest-
bearing
6.8
1.5
0.5
74.5
83.3
Lease liabilities
603.1
-79.6
54.8
16.1
594.4
Total liabilities from financing
activities
686.0
-78.2
54.8
16.6
-1.7
677.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2024
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
71.9
3.0
-0.0
1.2
76.1
Current liabilities, interest-
bearing
-0.0
6.8
6.8
Lease liabilities
587.2
-73.9
98.0
-8.2
603.1
Total liabilities from financing
activities
659.1
-70.8
98.0
-8.3
8.0
686.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_66": { "value": "
Capital management
For the purpose
of the Group\u2019s
capital management,
equity includes
issued capital,
invested unrestricted
equity fund
and other equity
reserves attributable
to the equity
holders of
the parent.
The Group monitors
its capital
structure using
the net gearing
ratio
and other
relevant indicators.
The Group
manages its
capital structure
and makes adjustments
in light of
changes in
economic conditions
and the requirements
of the financial
covenants.
To
maintain or
adjust the
capital structure,
the Group may
adjust the
dividend payment
to shareholders,
return capital
to shareholders
or issue
new shares.
The net gearing
ratio is defined
as interest-bearing
net debt divided
by equity attributable
to the equity
holders of
the parent
company.
Interest-bearing
net debt includes
interest-
bearing financing
liabilities
and lease
liabilities
less cash and
cash equivalents
and
interest-bearing
receivables.
\n
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\n
\n
\n
\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
Net gearing
EUR mill.
2025
2024
Interest-bearing financing liabilities
83.3
82.9
Lease liabilities (IFRS 16)
594.4
603.1
Cash and cash equivalents
-134.8
-114.7
Interest-bearing net debt
542.8
571.4
Equity attributable to the equity holders of the parent
company
451.0
394.0
Net gearing
120.4 %
145.0 %
In order
to achieve this
overall objective,
the Group\u2019s
capital management
aims to ensure
that it meets
financial covenants
attached to
the interest
-bearing financing
liabilities
that
define capital
structure
requirements.
At the end
of the reporting
period, the
Group had no
interest-bearing
financing arrangements
that included
financial
covenants based
on
capital structure
or financial
ratios.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_67": { "value": "
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial income
EUR mill.
2025
2024
Dividend income from other investments
0.0
0.1
Interest income on bank deposits and other
investments
1.8
3.4
Other financial income
1.8
0.4
Foreign exchange differences
0.0
1.4
Total
3.6
5.2
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Financial income and expenses, total
-36.7
-32.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_68": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial income
EUR mill.
2025
2024
Dividend income from other investments
0.0
0.1
Interest income on bank deposits and other
investments
1.8
3.4
Other financial income
1.8
0.4
Foreign exchange differences
0.0
1.4
Total
3.6
5.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial expenses
EUR mill.
2025
2024
Interest expenses on financial liabilities measured at
amortised cost
-2.0
-1.6
Interest expenses from lease contracts
-37.4
-36.0
Other financial expenses
-0.1
Foreign exchange differences
-0.9
Total
-40.4
-37.6
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Financial income and expenses, total
-36.7
-32.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_69": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial expenses
EUR mill.
2025
2024
Interest expenses on financial liabilities measured at
amortised cost
-2.0
-1.6
Interest expenses from lease contracts
-37.4
-36.0
Other financial expenses
-0.1
Foreign exchange differences
-0.9
Total
-40.4
-37.6
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Financial income and expenses, total
-36.7
-32.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_70": { "value": "
Financial instruments
Accounting
policies
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Trade
receivables
and other
non-derivative
receivables
are measured
at amortised
cost
and presented
as current
or non-current
assets in
the statement
of financial
position,
depending
on maturity
.
Receivables
maturing after
more than 12
months are
classified
as
non-current.
Trade receivables
are initially
recognised at
fair value.
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
Purchases
and sales of
financial
assets are
recognised
on the trade
date, the date
on
which the
Group commit
s
to purchase
or sell the
asset. Financial
assets are
derecognised
from the statement
of financial
position when
contractual
rights to cash
flows expire,
or
control over
the asset
is lost.
Non-derivative
financial liabilities
are classified
at amortised
cost and initially
recognised
at their fair value in the statement of financial position
.
Transaction costs are included in
the initial carrying amount of interest-bearing liabilities.
Subsequently, interest-bearing
liabilities
are measured
at amortised
cost using
the effective
interest method.
Non-current
liabilities
have maturities
of 12 months
or more,
and current
liabilities
mature within
1
2
months.
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
Derivative contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Nominal values of derivative contracts
Derivative contracts, hedge accounting applied
EUR mill.
2025
2024
Cash flow hedges, currency forwards
39.4
45.6
Total
39.4
45.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2025
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
0.1
-0.3
-0.2
Total
0.1
-0.3
-0.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2024
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
1.5
1.5
Total
1.5
1.5
Currency derivatives
are measured
at fair value
using market
prices at
the balance
sheet
date. Changes
in fair value
are recogised
either in equity
or in profit
and loss,
depending
on whether
hedge accounting
is applied.
No hedge-ineffectiveness
relating to
currency
derivatives
was recogni
sed on profit
or loss in
2025.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.11
Financial assets and liabilities by measurement category and
hierarchical classification of fair values
The Group
applies the
following fair
value hierarchy
to measure
financial instruments:
Level 1:
Quoted (unadjusted)
prices for
identical assets
or liabilities
in active markets.
Level 2: Valuation techniques using observable inputs, such as quoted market prices
available
from exchanges,
brokers or
pricing services.
Level 2 instruments
include over-
the-counter
derivative
contracts measured
at fair value
or designated
as hedging
instruments.
Level 3: Valuation techniques requiring management\u2019s judgment.
There were
no transfers
between the
levels during
the financial
year.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial assets, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.1
0.1
1.5
1.5
Financial assets at amortised
cost
Non-current receivables
3.5
3.5
3.3
3.3
Current receivables, non-
interest-bearing
42.3
42.3
40.8
40.8
Cash and cash equivalents
134.8
134.8
114.7
114.7
Other investments
3
0.4
0.4
0.4
0.4
Financial assets, total
181.1
181.1
160.7
160.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial liabilities, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.3
0.3
0.0
0.0
Financial liabilities at
amortised cost
Non-current interest-bearing
liabilities
2
0.0
0.0
76.1
71.2
Non-current lease liabilities
500.9
500.9
512.9
512.9
Non-current non-interest-
bearing liabilities
0.2
0.2
0.4
0.4
Current liabilities, interest-
bearing
2
83.3
81.4
6.8
6.8
Current lease liabilities
93.5
93.5
90.3
90.3
Current liabilities, non-interest-
bearing
179.0
179.0
164.1
164.1
Financial liabilities, total
857.1
855.2
850.5
845.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
In the balance
sheet, derivative
contracts are
included in
the following
categories:
non-
current and
current receivables,
non-interest-bearing
and non-current
and current
liabilities,
non-interest-bearing.
Level 3 financial
assets consist
of shares
in unlisted
companies.
Their fair
value is
determined
using valuation
techniques based
on management
\u2019s judgment.
Gains and
losses from
these investments
are recognised
in other operating
income or
other
operating expenses,
as acquisition
and disposal
decisions are
made for business
purposes.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Change in fair value of other investments, EUR
mill.
2025
2024
Carrying amount 1.1.
0.4
0.4
Increases during the period
Carrying amount 31.12.
0.4
0.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_71": { "value": "
Financial instruments
Accounting
policies
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Trade
receivables
and other
non-derivative
receivables
are measured
at amortised
cost
and presented
as current
or non-current
assets in
the statement
of financial
position,
depending
on maturity
.
Receivables
maturing after
more than 12
months are
classified
as
non-current.
Trade receivables
are initially
recognised at
fair value.
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
Purchases
and sales of
financial
assets are
recognised
on the trade
date, the date
on
which the
Group commit
s
to purchase
or sell the
asset. Financial
assets are
derecognised
from the statement
of financial
position when
contractual
rights to cash
flows expire,
or
control over
the asset
is lost.
Non-derivative
financial liabilities
are classified
at amortised
cost and initially
recognised
at their fair value in the statement of financial position
.
Transaction costs are included in
the initial carrying amount of interest-bearing liabilities.
Subsequently, interest-bearing
liabilities
are measured
at amortised
cost using
the effective
interest method.
Non-current
liabilities
have maturities
of 12 months
or more,
and current
liabilities
mature within
1
2
months.
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
Cash and cash equivalents
Accounting
policies
Cash and cash
equivalents
consist of
cash on hand,
current bank
deposits as
well as
other current,
highly liquid
investments
with a maturity
of no more
than three
months at
the date of
acquisition.
The fair values
of cash and
cash equivalents
are assumed
to
approximate
to their carrying
amounts because
of their short
maturities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_72": { "value": "
Financial instruments
Accounting
policies
Trade
receivables
and other
non-derivative
receivables
are measured
at amortised
cost
and presented
as current
or non-current
assets in
the statement
of financial
position,
depending
on maturity
.
Receivables
maturing after
more than 12
months are
classified
as
non-current.
Trade receivables
are initially
recognised at
fair value.
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
Purchases
and sales of
financial
assets are
recognised
on the trade
date, the date
on
which the
Group commit
s
to purchase
or sell the
asset. Financial
assets are
derecognised
from the statement
of financial
position when
contractual
rights to cash
flows expire,
or
control over
the asset
is lost.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
Current receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Non-interest-bearing trade receivables
17.2
16.0
Receivables based on derivative contracts
0.1
1.5
Other receivables
0.4
1.0
Prepayments and accrued income
24.7
23.7
Income tax receivables
3.8
0.4
Current receivables, total
46.1
42.7
The carrying
amount of
trade receivables
corresponds
to their fair
value. The
maximum
amount of the
credit risk
for trade receivables
and other current
receivables
is their
carrying
amount.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Prepayments and accrued income
EUR mill.
2025
2024
Prepaid rents
13.8
11.9
Merchandise prepayments
3.9
4.4
Periodised ICT expenses
2.2
3.1
Receivable from credit card co-operation
1.7
1.8
Periodised indirect employee expenses
1.2
1.1
Others
1.9
1.4
Total
24.7
23.7
Cash and cash equivalents
Accounting
policies
Cash and cash
equivalents
consist of
cash on hand,
current bank
deposits as
well as
other current,
highly liquid
investments
with a maturity
of no more
than three
months at
the date of
acquisition.
The fair values
of cash and
cash equivalents
are assumed
to
approximate
to their carrying
amounts because
of their short
maturities.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Cash and cash equivalents
134.8
114.7
Total
134.8
114.7
Restricted cash on 31 December 2025 EUR 0.6
million (0.6).
Non-current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Bond issues
73.1
Periodised loan arrangement expenses
-0.1
Lease liabilities
500.9
512.9
Other interest-bearing financing liabilities
3.0
Other non-interest bearing liabilities
0.2
0.4
Total
501.0
589.3
of which interest-bearing
500.9
589.0
Current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Lease liabilities
93.5
90.3
Bond issues
73.1
Other interest-bearing financing liabilities
10.1
6.8
Trade payables
72.8
57.7
Other current liabilities
34.4
33.6
Accruals and prepaid income
71.8
72.8
Derivative contract liabilities
0.3
Income tax liability
1.9
3.1
Current provisions
15.9
Total
357.9
280.1
of which interest-bearing
176.7
97.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Restructuring debt
EUR mill.
31.12.2025
31.12.2024
Restructuring debt related to current provisions
0.0
15.9
Provisions related to restructuring debt
0.0
15.9
Total
0.0
15.9
In 2024 the provisions consisted of a disputed
landlord's claim related to a terminated lease
agreement.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accruals and prepaid income
EUR mill.
2025
2024
Personnel expenses
41.9
40.9
Periodised purchases
10.8
13.8
Customer loyalty programme MORE
7.1
5.8
Reserve for returns and periodisation of sales
4.7
4.8
Derivative liabilities
0.3
Other accruals and prepaid income
7.0
7.5
Total
71.8
72.8
Reconciliation of liabilities arising from financing activities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2025
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2025
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
76.1
0.1
-76.2
0.0
Current liabilities, interest-
bearing
6.8
1.5
0.5
74.5
83.3
Lease liabilities
603.1
-79.6
54.8
16.1
594.4
Total liabilities from financing
activities
686.0
-78.2
54.8
16.6
-1.7
677.6
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2024
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
71.9
3.0
-0.0
1.2
76.1
Current liabilities, interest-
bearing
-0.0
6.8
6.8
Lease liabilities
587.2
-73.9
98.0
-8.2
603.1
Total liabilities from financing
activities
659.1
-70.8
98.0
-8.3
8.0
686.0
Financial risk management
The Group\u2019s
financing
activities
and financial
risk management
are centralised
within
Lindex Group
plc\u2019s Treasury
function and
conducted
in accordance
with the financial
policy approved
by the Board
of Directors.
Following
the corporate
restructuring
of Lindex
Group plc initiated
in April 2020,
the
company\u2019s
external debts
were subject
to restructuring,
all derivative
positions were
closed, and
hedging facilities
were cancelled
by the banks.
The restructuring
programme
was approved
in February
2021 and concluded
on 15 August
2025, after
the company
had settled
the final
remaining restructuring
debts and
fulfilled
its other
obligations
under
the restructuring
programme.
During the
restructuring
proceedings,
the Group
had limited
ability to
manage financial
risks in line
with its financial
policy.
This note describes
the
Group\u2019s
risk management
framework
under normal
circumstances.
The objective
of financial
risk management
is to ensure
access to adequate
financing
under all circumstances
and to mitigate
the impact
of market
risks on the
Group\u2019s income
statement and balance sheet. Group Treasury, reporting to the Chief Financial Officer
of
Lindex Group
plc, manages
the Group\u2019s
financial exposures
and executes
hedging
strategies
based on detailed
internal guidelines
for managing
financial
risks, liquidity
and
financing.
Divisions may
issue additional
instructions
regarding the
hedging of
foreign
exchange exposures.
The Group\u2019s
main financial
risks are currency
risk, interest
rate risk,
financing
and liquidity
risk, credit
and counterparty
risk and electricity
price risk.
Currency
risk
The Group\u2019s
currency risk
arises from
sales and
purchases in
foreign currencies,
balance-sheet
items denominated
in foreign
currencies,
and foreign-currency-
denominated
net investments
in units abroad.
Transaction risk
Transaction
risk arises
from currency
flows related
to sales, purchases,
loans and
receivables.
In 2025, the
main sales
currencies
were the euro,
Swedish krona,
and
Norwegian
krone. The
primary purchasing
currencies
were the euro,
US dollar and
Swedish krona.
In 2025, non
-euro sales
represented
54 % of total
sales (2024:
53 %).
Purchases
subject to
transaction
risk represented
49 % of total
purchases
(2024: 52 %).
In addition,
the Group
makes purchases
in foreign
currency without
a transaction
risk,
mainly local
purchases in
Sweden. In
2025 these
purchases
accounted for
3 % of the
Group\u2019s
total purchases
(2024: 4 %).
Divisions
forecast net
cash flows
in foreign currencies
and manage
the related
currency
risks. Hedging
is based on
six-month cash
flow forecasts,
and hedging
ratios for
individual
currencies
may vary between
0\u2013100%. Contracted
cash flows
may be hedged
for longer periods.
During the
restructuring
proceedings,
the Group
was unable
to hedge foreign
exchange
exposures.
AB Lindex obtained
hedging facilities
in September
2021 and currently
hedges its transaction exposure in accordance with the treasury policy. Lindex Group plc
does not currently
have hedging
facilities,
new facilities
will be negotiated
during 2026.
Currency derivatives
used to hedge
forecasted
cash flows
are classified
as cash flow
hedges. The
Lindex division
carries the
main transaction
exposure,
while the Stockmann
division primarily
operates in
its functional
currency and
therefore has
limited exposure.
Outstanding
cash-flow hedges
cover the
Lindex division\u2019s
purchases in
US-dollars and
sales in
Swedish Krona,
Norwegian
Krona, euro
and Czech Koruna,
and mature
during
the first
five months
of 2026. The
gain or loss
from these
hedging instruments
will affect
the Group\u2019s
operating profit
during the
period in
which the forecasted
hedged items
affect
profit, typically 4-5 months after maturity. Information on fair value is presented in Note
4.10. No ineffectiveness
arose on cash
flow hedges
during 2025.
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\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
Foreign exchange derivatives hedging cash flows
EUR mill.
2025
2024
USD
39.3
47.2
SEK
-18.0
-21.5
NOK
-10.2
-11.2
EUR
-7.8
-10.1
CZK
-3.4
-2.8
\n
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\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
Sensitivity Analysis, cash flow hedges, effect on equity
after tax
2025, EUR mill.
USD
SEK
NOK
CZK
Change + 10 %
-2.8
-0.6
0.7
0.2
Change - 10 %
3.5
0.7
-0.9
-0.3
2024, EUR mill.
USD
SEK
NOK
CZK
Change + 10 %
-3.4
-0.7
0.8
0.2
Change - 10 %
4.2
0.9
-1.0
-0.2
All
outstanding
ca
sh flow hedges
relate to the
Lindex division,
whose functional
currency
is the Swedish
Krona. At year
-end, cash
-flow hedges
covered approximately
62 % of the
Group\u2019s
expected net
USD flows
for the next
six months.
Foreign subsidiaries
are financed
primarily in
local currency,
meaning they
do not incur
significant
transaction
risks beyond
sales and purchases
in foreign
currency.
Group
Treasury
manages currency
risk related
to foreign-currency
-denominated
receivables
and
liabilities,
with a hedging
ratio of 0 \u2013
100%.
The table below
presents the
Group\u2019s
transaction
exposure comprising
foreign-currency-
denominated
assets and
liabilities
together with
the derivatives
designated
to hedge these
items. Forecasted
cash flows
and the derivatives
used to hedge
forecasted cash
flows are
excluded.
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\n
\n
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\n
\n
\n
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
The Group\u2019s transaction exposure
2025, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Receivables
-4.7
1.6
17.7
6.6
6.5
2.3
Trade payables and other current liabilities
-28.5
0.0
-12.2
0.0
-22.7
-0.3
Foreign currency exposure in the balance sheet
-33.2
1.5
5.5
6.6
-16.2
2.0
Foreign exchange derivatives hedging balance sheet
items
20.4
Net position in the balance sheet
-33.2
1.5
5.5
6.6
4.2
2.0
2024, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Receivables
3.0
2.5
12.5
8.1
6.3
Trade payables and other current liabilities
-34.1
-7.3
-23.4
Foreign currency exposure in the balance sheet
-31.2
2.5
5.3
8.1
-17.2
0.0
Foreign exchange derivatives hedging balance sheet
items
21.8
Net position in the balance sheet
-31.2
2.5
5.3
8.1
4.6
0.0
A 10 % strengthening
or weakening
of the euro
against other
currencies
would have
the
following
effect on
profit after
tax, based
on the exposures
shown above.
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\n
\n
\n
\n
\n
Sensitivity Analysis, effect on income statement after tax
2025, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Change + 10 %
2.4
-0.1
-0.4
-0.5
-0.3
-0.1
Change - 10 %
-2.9
0.1
0.5
0.6
0.4
0.2
2024, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Change + 10 %
2.3
-0.2
-0.4
-0.6
-0.7
0.0
Change - 10 %
-2.8
0.2
0.5
0.7
0.9
0.0
Translation risk
Translation
risk arises
when the financial
statements
of foreign subsidiaries
are translated
into euros
for consolidation.
For foreign
-currency-denominated
net investments,
changes in
exchange rates
are
recognised as translation differences in equity. Under
normal circumstances Lindex
Group selectively
hedges translation
risk related
to net investments
using foreign-
currency loans
or derivatives,
taking into
account the
potential impact
on profit,
balance
sheet, cash
flows, and
hedging costs.
Under the Board-approved policy, the degree of hedging may vary between
0-100%. At
the end of
2025, translation
risk remained
unhedged.
The table below
shows the impact
on the Group\u2019s
equity of a
10% change
in the euro
against the
functional
currencies
of the Group
companies.
The analysis
includes the
impact arising
from the translation
of foreign-currency
-denominated
net investments
into
euros.
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\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, effect on equity
2025, EUR mill.
SEK
Change + 10 %
-58.6
Change - 10 %
71.7
2024, EUR mill.
SEK
Change + 10 %
-58.4
Change - 10 %
71.4
Interest rate
risk
Interest rate
fluctuations
affect the
Group\u2019s interest
expenses and
income. The
objective
is to reduce
uncertainty
in earnings
arising from
changes in interest
rates. The
duration of
the loan and
investment
portfolio is
limited to
five years.
Interest rate
derivatives
may be
used but were
not in use
at year-end
2025.
Interest-bearing
liabilities
consist mainly
of a five-year
bullet bond
(excl. IFRS16
lease
liabilities)
issued to certain
unsecured creditors
who were entitled
to convert
their
receivables
into senior
secured bonds.
The bond matures
in July 2026
and bears
interest
at 0.10 % per annum.
Interest-bearing
receivables
consist mainly
of bank receivables
in various
currencies
with
maturities
of less than
one month.
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
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\n
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\n
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\n
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\n
\n
\n
\n
Interest terms of the Group's interest-bearing liabilities and
bank
receivables on 31 December 2025:
Interest rate adjustment, period,
EUR mill.
< 12 months
1\u20133 years
3\u20135 years
Total
Bond Issues
73.1
73.1
Other interest-bearing liabilities
10.1
10.1
Total
83.3
0.0
0.0
83.3
Cash and bank receivables
-134.8
-134.8
Total
-51.6
0.0
0.0
-51.6
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Interest terms of the Group's interest-bearing liabilities
and bank receivables on
31 December 2024:
Interest rate adjustment, period, EUR
mill.
< 12 months
1\u20133 years
3\u20135 years
Total
Bond Issues
73.1
73.1
Other interest-bearing liabilities
6.8
3.0
9.8
Total
6.8
76.2
0.0
82.9
Cash and bank receivables
-114.7
-114.7
Total
-107.9
76.2
0.0
-31.7
Electricity
price risk
Lindex Group
has entered
into electricity
price commitments
to mitigate
the risk
associated
with future
electricity
procurement.
In line with
the Group\u2019s
financial policy,
the
commitment
level for
future electricity
prices is set
between 50%
and 80% for
the years
2026-2027. As
both divisions
have secured
energy price
commitments
for the majority
of
their electricity
consumption,
a 20 percentage
point fluctuation
in the market
price of
electricity
would not have
a material
impact on
the Group\u2019s
net result
or equity.
In
addition,
the solar
panels installed
on the roof
of Lindex's
omnichannel
distribution
centre
somewhat
reduce the
Group's dependence
on external
electricity
purchases.
Financing
and liquidity
risk
Financing
risk refers
to the risk
that the Group
cannot meet
its payment
obligations
due to
insufficient
liquid funds,
breach of terms
of the financing
facilities
or difficulties
in
obtaining funding. To mitigate this risk, the Group
maintains long-term committed credit
facilities
and a liquidity
reserve equivalent
to at least
to at least
one month's
average
operational
cash outflows
.
Cash and cash
equivalents,
together with
unused committed
and uncommitted
credit facilities
form the liquidity
reserve.
At the reporting
date, the
Group had cash
and cash equivalents
of EUR 134.8
million
(114.7).
In addition,
the Group
has a committed
secured revolving
credit facility
of EUR 40
million maturing
in July 2028
,
which remained
unused during
2023-2025. Events
after the
reporting
period relevant
to the Group\u2019s
financing arrangements
are disclosed
in Note 5.9.
The Group\u2019s EUR 73.1 million bond will mature in July 2026. Based on the Group\u2019s
liquidity
planning and
available
financing arrangements,
management
assesses that
the
Group has
sufficient
liquidity and
financing capacity
to meet its
obligations
as they fall
due.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Liquid assets and unused committed credit facilities
EUR mill.
2025
2024
Cash and cash equivalents
134.8
114.7
Credit facility
40.0
40.0
Total
174.8
154.7
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\n
\n
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\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Cash flows based on agreements in financial liabilities,
including financing costs, on 31 December 2025
EUR mill.
Carrying amount
2026
2027
2028
2029
2030-
Total
Current liabilities bond (5-y bullet)
73.1
73.1
73.1
Current liabilities, interest-bearing
10.1
-10.1
-10.1
Current trade payables
107.2
-107.2
-107.2
Non-current lease liabilities
500.9
-104.5
-93.0
-83.6
-377.1
-658.2
Current lease liabilities
93.5
-112.5
-112.5
Lease liabilities, total
594.4
-112.5
-104.5
-93.0
-83.6
-377.1
-770.7
Total
784.8
-156.7
-104.5
-93.0
-83.6
-377.1
-814.9
Currency derivatives
0.3
Assets
26.4
26.4
Liabilities
-26.6
-26.6
Total
0.3
-0.2
0.0
0.0
0.0
0.0
-0.2
In July 2021 EUR 66.1 mill. of the restructuring debt
was converted into a new bond, which will
be repaid in 2026 and to which annual
interest of EUR 0.1 mill. will be paid.
In 2022 more bonds were converted with
EUR 1.5 mill., in 2023 with EUR 4.4 mill. and
in 2024 with EUR 1.1 mill.
Carrying amount of lease liabilities is discounted
in accordance with IFRS 16. Annual cash
flows are presented in nominal values.
\n
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\n
\n
\n
\n
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\n
\n
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\n
\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Cash flows based on agreements in financial liabilities, including
financing costs, on 31 December 2024
EUR mill.
Carrying amount
2025
2026
2027
2028
2029-
Total
Non-current bond (5-y bullet)
73.1
-0.1
-73.2
-73.3
Non-current liabilities
3.0
-3.0
-3.0
Current liabilities interst-bearing
6.8
-6.8
-6.8
Current trade payables and other current liabilities
91.3
-91.3
-91.3
Non-current lease liabilities
512.9
-102.6
-92.1
-79.9
-407.1
-681.7
Current lease liabilities
90.3
-109.8
-109.8
Lease liabilities, total
603.1
-109.8
-102.6
-92.1
-79.9
-407.1
-791.4
Total
777.3
-207.9
-178.8
-92.1
-79.9
-407.1
-965.8
The cash flows presented are based on the restructuring
programme approved on 9 February 2021
and they include financing costs.
In July 2021 EUR 66.1 mill. of the restructuring debt
was converted into a new bond, which will
be repaid in 2026 and to which annual
interest of EUR 0.1 mill. will be paid.
In 2022 more bonds were converted with
EUR 1.5 mill., in 2023 with EUR 4.4 mill. and
in 2024 with EUR 1.1 mill. Provisions regarding
disputed landlords' claims are not included in
the cash flows.
Credit and
counterparty
risk
Trade
receivables,
investment-related
receivables
and derivative
contracts
expose the
Group to credit
risk. Counterparty
risk related
to investments
is managed through
counterparty
limits approved
by the Board
of Directors.
Derivative contracts
are
concluded
only with counterparties
deemed highly
creditworthy
and financially
sound.
Cash assets
are invested
in liquid,
low-risk financial
instruments,
and on 31
December
2025, the
Group's liquid
assets consisted
primarily of
short-term bank
deposits.
The Group\u2019s
credit risk
arising from
trade receivables
is limited,
as the receivables
are
widely diversified
and counterparties\u2019
creditworthiness
is assessed
before credit
is
granted.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Ageing of trade and lease receivables
31 December 2025
EUR mill.
Gross
carrying
amount
Loss
allowance
Trade receivables not due
14.8
0.0
Trade receivables fallen due in 1\u201330 days
1.1
0.0
Trade receivables fallen due in 31\u201360 days
0.6
0.0
Trade receivables fallen due in 61\u201390 days
0.5
0.0
Trade receivables fallen due in over 120 days
1.5
1.4
Total
18.6
1.4
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31 December 2024
EUR mill.
Gross carrying
amount
Loss allowance
Trade receivables not due
15.1
0.0
Trade receivables fallen due in 1\u201330 days
0.6
0.0
Trade receivables fallen due in 31\u201360 days
0.1
0.0
Trade receivables fallen due in 61\u201390 days
0.1
0.0
Trade receivables fallen due in 91\u2013120 days
0.1
0.0
Trade receivables fallen due in over 120 days
1.2
1.2
Total
17.2
1.2
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
Derivative contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Nominal values of derivative contracts
Derivative contracts, hedge accounting applied
EUR mill.
2025
2024
Cash flow hedges, currency forwards
39.4
45.6
Total
39.4
45.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2025
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
0.1
-0.3
-0.2
Total
0.1
-0.3
-0.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2024
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
1.5
1.5
Total
1.5
1.5
Currency derivatives
are measured
at fair value
using market
prices at
the balance
sheet
date. Changes
in fair value
are recogised
either in equity
or in profit
and loss,
depending
on whether
hedge accounting
is applied.
No hedge-ineffectiveness
relating to
currency
derivatives
was recogni
sed on profit
or loss in
2025.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.11
Financial assets and liabilities by measurement category and
hierarchical classification of fair values
The Group
applies the
following fair
value hierarchy
to measure
financial instruments:
Level 1:
Quoted (unadjusted)
prices for
identical assets
or liabilities
in active markets.
Level 2: Valuation techniques using observable inputs, such as quoted market prices
available
from exchanges,
brokers or
pricing services.
Level 2 instruments
include over-
the-counter
derivative
contracts measured
at fair value
or designated
as hedging
instruments.
Level 3: Valuation techniques requiring management\u2019s judgment.
There were
no transfers
between the
levels during
the financial
year.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial assets, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.1
0.1
1.5
1.5
Financial assets at amortised
cost
Non-current receivables
3.5
3.5
3.3
3.3
Current receivables, non-
interest-bearing
42.3
42.3
40.8
40.8
Cash and cash equivalents
134.8
134.8
114.7
114.7
Other investments
3
0.4
0.4
0.4
0.4
Financial assets, total
181.1
181.1
160.7
160.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial liabilities, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.3
0.3
0.0
0.0
Financial liabilities at
amortised cost
Non-current interest-bearing
liabilities
2
0.0
0.0
76.1
71.2
Non-current lease liabilities
500.9
500.9
512.9
512.9
Non-current non-interest-
bearing liabilities
0.2
0.2
0.4
0.4
Current liabilities, interest-
bearing
2
83.3
81.4
6.8
6.8
Current lease liabilities
93.5
93.5
90.3
90.3
Current liabilities, non-interest-
bearing
179.0
179.0
164.1
164.1
Financial liabilities, total
857.1
855.2
850.5
845.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
In the balance
sheet, derivative
contracts are
included in
the following
categories:
non-
current and
current receivables,
non-interest-bearing
and non-current
and current
liabilities,
non-interest-bearing.
Level 3 financial
assets consist
of shares
in unlisted
companies.
Their fair
value is
determined
using valuation
techniques based
on management
\u2019s judgment.
Gains and
losses from
these investments
are recognised
in other operating
income or
other
operating expenses,
as acquisition
and disposal
decisions are
made for business
purposes.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Change in fair value of other investments, EUR
mill.
2025
2024
Carrying amount 1.1.
0.4
0.4
Increases during the period
Carrying amount 31.12.
0.4
0.4
Financial instruments
subject to netting
arrangements
The Group
has entered
into derivative
transactions
under agreements
that include
master
netting arrangements.
These agreements
specify that,
in certain
circumstances,
such as
when a credit
event (e.g.
default) occurs,
all outstanding
transactions
under the
agreement
are terminated
and a single
net amount
is payable
in settlement
of all
transactions.
The agreements
do not meet
the criteria
for offsetting
in the statement
of financial
position.
The following
table presents
the recogni
sed financial
instruments
that are subject
to these
netting agreements.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31.12.2025
Financial assets, EUR mill.
Carrying amount
Items under netting
arrangements
Net
Currency derivatives, hedge accounting
applied
0.1
-0.1
0.0
Financial assets, total
0.1
-0.1
0.0
Financial liabilities, EUR mill.
Currency derivatives, hedge accounting
applied
-0.3
0.1
-0.2
Financial liabilities, total
-0.3
0.1
-0.2
31.12.2024
Financial assets, EUR mill.
Carrying amount
Items under netting
arrangements
Net
Currency derivatives, hedge accounting
applied
1.5
0.0
1.5
Financial assets, total
1.5
0.0
1.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_73": { "value": "
Accounting
policies
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
Purchases
and sales of
financial
assets are
recognised
on the trade
date, the date
on
which the
Group commit
s
to purchase
or sell the
asset. Financial
assets are
derecognised
from the statement
of financial
position when
contractual
rights to cash
flows expire,
or
control over
the asset
is lost.
Non-derivative
financial liabilities
are classified
at amortised
cost and initially
recognised
at their fair value in the statement of financial position
.
Transaction costs are included in
the initial carrying amount of interest-bearing liabilities.
Subsequently, interest-bearing
liabilities
are measured
at amortised
cost using
the effective
interest method.
Non-current
liabilities
have maturities
of 12 months
or more,
and current
liabilities
mature within
1
2
months.
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_74": { "value": "
Accounting
policies
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
Derivative contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2025
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
0.1
-0.3
-0.2
Total
0.1
-0.3
-0.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2024
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
1.5
1.5
Total
1.5
1.5
Currency derivatives
are measured
at fair value
using market
prices at
the balance
sheet
date. Changes
in fair value
are recogised
either in equity
or in profit
and loss,
depending
on whether
hedge accounting
is applied.
No hedge-ineffectiveness
relating to
currency
derivatives
was recogni
sed on profit
or loss in
2025.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
4.11
Financial assets and liabilities by measurement category and
hierarchical classification of fair values
The Group
applies the
following fair
value hierarchy
to measure
financial instruments:
Level 1:
Quoted (unadjusted)
prices for
identical assets
or liabilities
in active markets.
Level 2: Valuation techniques using observable inputs, such as quoted market prices
available
from exchanges,
brokers or
pricing services.
Level 2 instruments
include over-
the-counter
derivative
contracts measured
at fair value
or designated
as hedging
instruments.
Level 3: Valuation techniques requiring management\u2019s judgment.
There were
no transfers
between the
levels during
the financial
year.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial assets, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.1
0.1
1.5
1.5
Financial assets at amortised
cost
Non-current receivables
3.5
3.5
3.3
3.3
Current receivables, non-
interest-bearing
42.3
42.3
40.8
40.8
Cash and cash equivalents
134.8
134.8
114.7
114.7
Other investments
3
0.4
0.4
0.4
0.4
Financial assets, total
181.1
181.1
160.7
160.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial liabilities, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.3
0.3
0.0
0.0
Financial liabilities at
amortised cost
Non-current interest-bearing
liabilities
2
0.0
0.0
76.1
71.2
Non-current lease liabilities
500.9
500.9
512.9
512.9
Non-current non-interest-
bearing liabilities
0.2
0.2
0.4
0.4
Current liabilities, interest-
bearing
2
83.3
81.4
6.8
6.8
Current lease liabilities
93.5
93.5
90.3
90.3
Current liabilities, non-interest-
bearing
179.0
179.0
164.1
164.1
Financial liabilities, total
857.1
855.2
850.5
845.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
In the balance
sheet, derivative
contracts are
included in
the following
categories:
non-
current and
current receivables,
non-interest-bearing
and non-current
and current
liabilities,
non-interest-bearing.
Level 3 financial
assets consist
of shares
in unlisted
companies.
Their fair
value is
determined
using valuation
techniques based
on management
\u2019s judgment.
Gains and
losses from
these investments
are recognised
in other operating
income or
other
operating expenses,
as acquisition
and disposal
decisions are
made for business
purposes.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Change in fair value of other investments, EUR
mill.
2025
2024
Carrying amount 1.1.
0.4
0.4
Increases during the period
Carrying amount 31.12.
0.4
0.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_75": { "value": "
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Non-derivative
financial liabilities
are classified
at amortised
cost and initially
recognised
at their fair value in the statement of financial position
.
Transaction costs are included in
the initial carrying amount of interest-bearing liabilities.
Subsequently, interest-bearing
liabilities
are measured
at amortised
cost using
the effective
interest method.
Non-current
liabilities
have maturities
of 12 months
or more,
and current
liabilities
mature within
1
2
months.
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_76": { "value": "
Financial
instruments
are classified
under IFRS
9 into the
following categories:
financial
assets and
liabilities
measured
at amortised
cost, at fair
value through
other
comprehensive
income,
and at fair
value through
income statement.
Classification
is
determined
at initial
recognition
based on the
business model
objective and
the
contractual
cash flow
characteristic
s
of the instrument
.
Trade
receivables
and other
non-derivative
receivables
are measured
at amortised
cost
and presented
as current
or non-current
assets in
the statement
of financial
position,
depending
on maturity
.
Receivables
maturing after
more than 12
months are
classified
as
non-current.
Trade receivables
are initially
recognised at
fair value.
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
Purchases
and sales of
financial
assets are
recognised
on the trade
date, the date
on
which the
Group commit
s
to purchase
or sell the
asset. Financial
assets are
derecognised
from the statement
of financial
position when
contractual
rights to cash
flows expire,
or
control over
the asset
is lost.
Cash and cash equivalents
Accounting
policies
Cash and cash
equivalents
consist of
cash on hand,
current bank
deposits as
well as
other current,
highly liquid
investments
with a maturity
of no more
than three
months at
the date of
acquisition.
The fair values
of cash and
cash equivalents
are assumed
to
approximate
to their carrying
amounts because
of their short
maturities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_77": { "value": "
Trade
receivables
and other
non-derivative
receivables
are measured
at amortised
cost
and presented
as current
or non-current
assets in
the statement
of financial
position,
depending
on maturity
.
Receivables
maturing after
more than 12
months are
classified
as
non-current.
Trade receivables
are initially
recognised at
fair value.
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_78": { "value": "
Lindex Group
applies
the IFRS 9
simplified
approach for
expected credit
losses, using
a lifetime
expected loss
allowance
for all trade
receivables,
customer contract
assets and
lease receivables.
Expected credit
losses are
estimated based
on historical
experience
and recognised
in
income statement
as a percentage
of outstanding
trade and lease
receivables.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_79": { "value": "
Other investments
include the
Group\u2019s holdings
in shares,
measured at
fair value
through
income statement.
The fair value
of listed shares
is market price
s
at the reporting
date.
Unlisted shares
are carried
at cost less
impairment
if fair value
cannot be measured
reliably.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_80": { "value": "
Non-derivative
financial liabilities
are classified
at amortised
cost and initially
recognised
at their fair value in the statement of financial position
.
Transaction costs are included in
the initial carrying amount of interest-bearing liabilities.
Subsequently, interest-bearing
liabilities
are measured
at amortised
cost using
the effective
interest method.
Non-current
liabilities
have maturities
of 12 months
or more,
and current
liabilities
mature within
1
2
months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_81": { "value": "
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_82": { "value": "
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_83": { "value": "
Derivative
financial instruments
are classified
as financial
assets or liabilities
at fair value
through income
statement,
with changes
in their fair
value recognised
in the income
statement,
except for
derivatives
designated
as hedging
instruments
in cash flow
hedges
or net investment
hedges that
meet IFRS
9 hedge accounting
criteria.
Hedge accounting
is applied
in accordance
with IFRS 9
to certain
currency derivatives
used to hedg
e
forecasted foreign
currency-denominated
sales and purchases
that are
highly probable
and expected
to affect
the income
statement.
Changes in
the fair value
of
the hedging
instruments
are recognised
in other comprehensive
income and
presented
in
the fair value
reserve within
equity,
while any ineffective
portion is
recognised
in the
income statement.
Cumulative
fair value
changes reco
gnised in
equity are
reclassified
to
the income
statement
as adjustments
to sales or
purchases
in the same
period in
which
the forecast
transactions
covered by
hedge accounting
are recognised
in the income
statement.
If a forecast
transaction
is no longer
expected to
occur,
the related
fair value
change recognised
in equity
is transferred
to the income
statement.
Hedge accounting
is also applied
to currency
derivatives
hedging foreign
currency
denominated
net investments
in foreign
operations.
Changes in
fair value
are recognised
in other comprehensive income and presented in the translation reserve within equity.
Gains and
losses accumulated
in translation
reserve are
transferred
to income statement
upon disposal
of the net
investment.
Realised foreign
exchange rate
gains
on net
investment
hedges and
internal loans
are included
in cash flow
s
from investment
activities
in the consolidated
cash flow
statement.
The hedging
relationship
between the
hedged item
and the hedging
instrument
is
documented
at inception
,
including
identification
of the hedging
instruments,
the hedged
item, the
nature of
the risk being
hedged, the
risk management
objectives,
and hedge
effectiveness
calculations.
The hedging
relationship
must be effective,
and the
effectiveness
is assessed
both at inception
and subsequently
at each reporting
date.
The fair value
of interest
rate swaps
is determined
based on the
present value
of future
cash flows
using market
prices at
the reporting
date. Changes
in the fair
value of interest
rate swaps
are recognised
in financial
income and
expenses in
the income
statement.
The fair value
of currency
forwards and
currency swaps
is calculated
using
market prices
at the reporting
date, while
the fair value
of currency
options is
determined
using the
Black-Scholes
model. The
results of
measuring currency
derivatives
are recognised
in the
income statement,
except for
currency
derivatives
designated
as hedging
instruments
in
accordance
with IFRS 9
for cash flow
hedges or
hedges of net
investments.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_84": { "value": "
Current receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Non-interest-bearing trade receivables
17.2
16.0
Receivables based on derivative contracts
0.1
1.5
Other receivables
0.4
1.0
Prepayments and accrued income
24.7
23.7
Income tax receivables
3.8
0.4
Current receivables, total
46.1
42.7
The carrying
amount of
trade receivables
corresponds
to their fair
value. The
maximum
amount of the
credit risk
for trade receivables
and other current
receivables
is their
carrying
amount.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Prepayments and accrued income
EUR mill.
2025
2024
Prepaid rents
13.8
11.9
Merchandise prepayments
3.9
4.4
Periodised ICT expenses
2.2
3.1
Receivable from credit card co-operation
1.7
1.8
Periodised indirect employee expenses
1.2
1.1
Others
1.9
1.4
Total
24.7
23.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Ageing of trade and lease receivables
31 December 2025
EUR mill.
Gross
carrying
amount
Loss
allowance
Trade receivables not due
14.8
0.0
Trade receivables fallen due in 1\u201330 days
1.1
0.0
Trade receivables fallen due in 31\u201360 days
0.6
0.0
Trade receivables fallen due in 61\u201390 days
0.5
0.0
Trade receivables fallen due in over 120 days
1.5
1.4
Total
18.6
1.4
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31 December 2024
EUR mill.
Gross carrying
amount
Loss allowance
Trade receivables not due
15.1
0.0
Trade receivables fallen due in 1\u201330 days
0.6
0.0
Trade receivables fallen due in 31\u201360 days
0.1
0.0
Trade receivables fallen due in 61\u201390 days
0.1
0.0
Trade receivables fallen due in 91\u2013120 days
0.1
0.0
Trade receivables fallen due in over 120 days
1.2
1.2
Total
17.2
1.2
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_85": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Prepayments and accrued income
EUR mill.
2025
2024
Prepaid rents
13.8
11.9
Merchandise prepayments
3.9
4.4
Periodised ICT expenses
2.2
3.1
Receivable from credit card co-operation
1.7
1.8
Periodised indirect employee expenses
1.2
1.1
Others
1.9
1.4
Total
24.7
23.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_86": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Prepayments and accrued income
EUR mill.
2025
2024
Prepaid rents
13.8
11.9
Merchandise prepayments
3.9
4.4
Periodised ICT expenses
2.2
3.1
Receivable from credit card co-operation
1.7
1.8
Periodised indirect employee expenses
1.2
1.1
Others
1.9
1.4
Total
24.7
23.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_87": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Prepayments and accrued income
EUR mill.
2025
2024
Prepaid rents
13.8
11.9
Merchandise prepayments
3.9
4.4
Periodised ICT expenses
2.2
3.1
Receivable from credit card co-operation
1.7
1.8
Periodised indirect employee expenses
1.2
1.1
Others
1.9
1.4
Total
24.7
23.7
", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_88": { "value": "
Cash and cash equivalents
Accounting
policies
Cash and cash
equivalents
consist of
cash on hand,
current bank
deposits as
well as
other current,
highly liquid
investments
with a maturity
of no more
than three
months at
the date of
acquisition.
The fair values
of cash and
cash equivalents
are assumed
to
approximate
to their carrying
amounts because
of their short
maturities.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Cash and cash equivalents
134.8
114.7
Total
134.8
114.7
Restricted cash on 31 December 2025 EUR 0.6
million (0.6).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_89": { "value": "
Cash and cash equivalents
Accounting
policies
Cash and cash
equivalents
consist of
cash on hand,
current bank
deposits as
well as
other current,
highly liquid
investments
with a maturity
of no more
than three
months at
the date of
acquisition.
The fair values
of cash and
cash equivalents
are assumed
to
approximate
to their carrying
amounts because
of their short
maturities.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_90": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Cash and cash equivalents
134.8
114.7
Total
134.8
114.7
Restricted cash on 31 December 2025 EUR 0.6
million (0.6).
", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_91": { "value": "
Non-current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Bond issues
73.1
Periodised loan arrangement expenses
-0.1
Lease liabilities
500.9
512.9
Other interest-bearing financing liabilities
3.0
Other non-interest bearing liabilities
0.2
0.4
Total
501.0
589.3
of which interest-bearing
500.9
589.0
Current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Lease liabilities
93.5
90.3
Bond issues
73.1
Other interest-bearing financing liabilities
10.1
6.8
Trade payables
72.8
57.7
Other current liabilities
34.4
33.6
Accruals and prepaid income
71.8
72.8
Derivative contract liabilities
0.3
Income tax liability
1.9
3.1
Current provisions
15.9
Total
357.9
280.1
of which interest-bearing
176.7
97.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Restructuring debt
EUR mill.
31.12.2025
31.12.2024
Restructuring debt related to current provisions
0.0
15.9
Provisions related to restructuring debt
0.0
15.9
Total
0.0
15.9
In 2024 the provisions consisted of a disputed
landlord's claim related to a terminated lease
agreement.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accruals and prepaid income
EUR mill.
2025
2024
Personnel expenses
41.9
40.9
Periodised purchases
10.8
13.8
Customer loyalty programme MORE
7.1
5.8
Reserve for returns and periodisation of sales
4.7
4.8
Derivative liabilities
0.3
Other accruals and prepaid income
7.0
7.5
Total
71.8
72.8
Reconciliation of liabilities arising from financing activities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2025
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2025
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
76.1
0.1
-76.2
0.0
Current liabilities, interest-
bearing
6.8
1.5
0.5
74.5
83.3
Lease liabilities
603.1
-79.6
54.8
16.1
594.4
Total liabilities from financing
activities
686.0
-78.2
54.8
16.6
-1.7
677.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2024
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
71.9
3.0
-0.0
1.2
76.1
Current liabilities, interest-
bearing
-0.0
6.8
6.8
Lease liabilities
587.2
-73.9
98.0
-8.2
603.1
Total liabilities from financing
activities
659.1
-70.8
98.0
-8.3
8.0
686.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_92": { "value": "
Non-current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Bond issues
73.1
Periodised loan arrangement expenses
-0.1
Lease liabilities
500.9
512.9
Other interest-bearing financing liabilities
3.0
Other non-interest bearing liabilities
0.2
0.4
Total
501.0
589.3
of which interest-bearing
500.9
589.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_93": { "value": "
Non-current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Bond issues
73.1
Periodised loan arrangement expenses
-0.1
Lease liabilities
500.9
512.9
Other interest-bearing financing liabilities
3.0
Other non-interest bearing liabilities
0.2
0.4
Total
501.0
589.3
of which interest-bearing
500.9
589.0
Current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Lease liabilities
93.5
90.3
Bond issues
73.1
Other interest-bearing financing liabilities
10.1
6.8
Trade payables
72.8
57.7
Other current liabilities
34.4
33.6
Accruals and prepaid income
71.8
72.8
Derivative contract liabilities
0.3
Income tax liability
1.9
3.1
Current provisions
15.9
Total
357.9
280.1
of which interest-bearing
176.7
97.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Restructuring debt
EUR mill.
31.12.2025
31.12.2024
Restructuring debt related to current provisions
0.0
15.9
Provisions related to restructuring debt
0.0
15.9
Total
0.0
15.9
In 2024 the provisions consisted of a disputed
landlord's claim related to a terminated lease
agreement.
Reconciliation of liabilities arising from financing activities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2025
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2025
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
76.1
0.1
-76.2
0.0
Current liabilities, interest-
bearing
6.8
1.5
0.5
74.5
83.3
Lease liabilities
603.1
-79.6
54.8
16.1
594.4
Total liabilities from financing
activities
686.0
-78.2
54.8
16.6
-1.7
677.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
1.1.2024
Cash flows from liabilities
Non-cash changes from
liabilities
Non-cash changes from
loans
31.12.2024
Changes in leases
The effect of changes in
foreign exchange rates
Non-current liabilities, interest-
bearing
71.9
3.0
-0.0
1.2
76.1
Current liabilities, interest-
bearing
-0.0
6.8
6.8
Lease liabilities
587.2
-73.9
98.0
-8.2
603.1
Total liabilities from financing
activities
659.1
-70.8
98.0
-8.3
8.0
686.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_94": { "value": "
Non-current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Bond issues
73.1
Periodised loan arrangement expenses
-0.1
Lease liabilities
500.9
512.9
Other interest-bearing financing liabilities
3.0
Other non-interest bearing liabilities
0.2
0.4
Total
501.0
589.3
of which interest-bearing
500.9
589.0
Current liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Lease liabilities
93.5
90.3
Bond issues
73.1
Other interest-bearing financing liabilities
10.1
6.8
Trade payables
72.8
57.7
Other current liabilities
34.4
33.6
Accruals and prepaid income
71.8
72.8
Derivative contract liabilities
0.3
Income tax liability
1.9
3.1
Current provisions
15.9
Total
357.9
280.1
of which interest-bearing
176.7
97.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Restructuring debt
EUR mill.
31.12.2025
31.12.2024
Restructuring debt related to current provisions
0.0
15.9
Provisions related to restructuring debt
0.0
15.9
Total
0.0
15.9
In 2024 the provisions consisted of a disputed
landlord's claim related to a terminated lease
agreement.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accruals and prepaid income
EUR mill.
2025
2024
Personnel expenses
41.9
40.9
Periodised purchases
10.8
13.8
Customer loyalty programme MORE
7.1
5.8
Reserve for returns and periodisation of sales
4.7
4.8
Derivative liabilities
0.3
Other accruals and prepaid income
7.0
7.5
Total
71.8
72.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_95": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Lease liabilities
93.5
90.3
Bond issues
73.1
Other interest-bearing financing liabilities
10.1
6.8
Trade payables
72.8
57.7
Other current liabilities
34.4
33.6
Accruals and prepaid income
71.8
72.8
Derivative contract liabilities
0.3
Income tax liability
1.9
3.1
Current provisions
15.9
Total
357.9
280.1
of which interest-bearing
176.7
97.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accruals and prepaid income
EUR mill.
2025
2024
Personnel expenses
41.9
40.9
Periodised purchases
10.8
13.8
Customer loyalty programme MORE
7.1
5.8
Reserve for returns and periodisation of sales
4.7
4.8
Derivative liabilities
0.3
Other accruals and prepaid income
7.0
7.5
Total
71.8
72.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_96": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Lease liabilities
93.5
90.3
Bond issues
73.1
Other interest-bearing financing liabilities
10.1
6.8
Trade payables
72.8
57.7
Other current liabilities
34.4
33.6
Accruals and prepaid income
71.8
72.8
Derivative contract liabilities
0.3
Income tax liability
1.9
3.1
Current provisions
15.9
Total
357.9
280.1
of which interest-bearing
176.7
97.1
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accruals and prepaid income
EUR mill.
2025
2024
Personnel expenses
41.9
40.9
Periodised purchases
10.8
13.8
Customer loyalty programme MORE
7.1
5.8
Reserve for returns and periodisation of sales
4.7
4.8
Derivative liabilities
0.3
Other accruals and prepaid income
7.0
7.5
Total
71.8
72.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_97": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Accruals and prepaid income
EUR mill.
2025
2024
Personnel expenses
41.9
40.9
Periodised purchases
10.8
13.8
Customer loyalty programme MORE
7.1
5.8
Reserve for returns and periodisation of sales
4.7
4.8
Derivative liabilities
0.3
Other accruals and prepaid income
7.0
7.5
Total
71.8
72.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_98": { "value": "
Financial risk management
The Group\u2019s
financing
activities
and financial
risk management
are centralised
within
Lindex Group
plc\u2019s Treasury
function and
conducted
in accordance
with the financial
policy approved
by the Board
of Directors.
Following
the corporate
restructuring
of Lindex
Group plc initiated
in April 2020,
the
company\u2019s
external debts
were subject
to restructuring,
all derivative
positions were
closed, and
hedging facilities
were cancelled
by the banks.
The restructuring
programme
was approved
in February
2021 and concluded
on 15 August
2025, after
the company
had settled
the final
remaining restructuring
debts and
fulfilled
its other
obligations
under
the restructuring
programme.
During the
restructuring
proceedings,
the Group
had limited
ability to
manage financial
risks in line
with its financial
policy.
This note describes
the
Group\u2019s
risk management
framework
under normal
circumstances.
The objective
of financial
risk management
is to ensure
access to adequate
financing
under all circumstances
and to mitigate
the impact
of market
risks on the
Group\u2019s income
statement and balance sheet. Group Treasury, reporting to the Chief Financial Officer
of
Lindex Group
plc, manages
the Group\u2019s
financial exposures
and executes
hedging
strategies
based on detailed
internal guidelines
for managing
financial
risks, liquidity
and
financing.
Divisions may
issue additional
instructions
regarding the
hedging of
foreign
exchange exposures.
The Group\u2019s
main financial
risks are currency
risk, interest
rate risk,
financing
and liquidity
risk, credit
and counterparty
risk and electricity
price risk.
Currency
risk
The Group\u2019s
currency risk
arises from
sales and
purchases in
foreign currencies,
balance-sheet
items denominated
in foreign
currencies,
and foreign-currency-
denominated
net investments
in units abroad.
Transaction risk
Transaction
risk arises
from currency
flows related
to sales, purchases,
loans and
receivables.
In 2025, the
main sales
currencies
were the euro,
Swedish krona,
and
Norwegian
krone. The
primary purchasing
currencies
were the euro,
US dollar and
Swedish krona.
In 2025, non
-euro sales
represented
54 % of total
sales (2024:
53 %).
Purchases
subject to
transaction
risk represented
49 % of total
purchases
(2024: 52 %).
In addition,
the Group
makes purchases
in foreign
currency without
a transaction
risk,
mainly local
purchases in
Sweden. In
2025 these
purchases
accounted for
3 % of the
Group\u2019s
total purchases
(2024: 4 %).
Divisions
forecast net
cash flows
in foreign currencies
and manage
the related
currency
risks. Hedging
is based on
six-month cash
flow forecasts,
and hedging
ratios for
individual
currencies
may vary between
0\u2013100%. Contracted
cash flows
may be hedged
for longer periods.
During the
restructuring
proceedings,
the Group
was unable
to hedge foreign
exchange
exposures.
AB Lindex obtained
hedging facilities
in September
2021 and currently
hedges its transaction exposure in accordance with the treasury policy. Lindex Group plc
does not currently
have hedging
facilities,
new facilities
will be negotiated
during 2026.
Currency derivatives
used to hedge
forecasted
cash flows
are classified
as cash flow
hedges. The
Lindex division
carries the
main transaction
exposure,
while the Stockmann
division primarily
operates in
its functional
currency and
therefore has
limited exposure.
Outstanding
cash-flow hedges
cover the
Lindex division\u2019s
purchases in
US-dollars and
sales in
Swedish Krona,
Norwegian
Krona, euro
and Czech Koruna,
and mature
during
the first
five months
of 2026. The
gain or loss
from these
hedging instruments
will affect
the Group\u2019s
operating profit
during the
period in
which the forecasted
hedged items
affect
profit, typically 4-5 months after maturity. Information on fair value is presented in Note
4.10. No ineffectiveness
arose on cash
flow hedges
during 2025.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Foreign exchange derivatives hedging cash flows
EUR mill.
2025
2024
USD
39.3
47.2
SEK
-18.0
-21.5
NOK
-10.2
-11.2
EUR
-7.8
-10.1
CZK
-3.4
-2.8
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, cash flow hedges, effect on equity
after tax
2025, EUR mill.
USD
SEK
NOK
CZK
Change + 10 %
-2.8
-0.6
0.7
0.2
Change - 10 %
3.5
0.7
-0.9
-0.3
2024, EUR mill.
USD
SEK
NOK
CZK
Change + 10 %
-3.4
-0.7
0.8
0.2
Change - 10 %
4.2
0.9
-1.0
-0.2
All
outstanding
ca
sh flow hedges
relate to the
Lindex division,
whose functional
currency
is the Swedish
Krona. At year
-end, cash
-flow hedges
covered approximately
62 % of the
Group\u2019s
expected net
USD flows
for the next
six months.
Foreign subsidiaries
are financed
primarily in
local currency,
meaning they
do not incur
significant
transaction
risks beyond
sales and purchases
in foreign
currency.
Group
Treasury
manages currency
risk related
to foreign-currency
-denominated
receivables
and
liabilities,
with a hedging
ratio of 0 \u2013
100%.
The table below
presents the
Group\u2019s
transaction
exposure comprising
foreign-currency-
denominated
assets and
liabilities
together with
the derivatives
designated
to hedge these
items. Forecasted
cash flows
and the derivatives
used to hedge
forecasted cash
flows are
excluded.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The Group\u2019s transaction exposure
2025, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Receivables
-4.7
1.6
17.7
6.6
6.5
2.3
Trade payables and other current liabilities
-28.5
0.0
-12.2
0.0
-22.7
-0.3
Foreign currency exposure in the balance sheet
-33.2
1.5
5.5
6.6
-16.2
2.0
Foreign exchange derivatives hedging balance sheet
items
20.4
Net position in the balance sheet
-33.2
1.5
5.5
6.6
4.2
2.0
2024, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Receivables
3.0
2.5
12.5
8.1
6.3
Trade payables and other current liabilities
-34.1
-7.3
-23.4
Foreign currency exposure in the balance sheet
-31.2
2.5
5.3
8.1
-17.2
0.0
Foreign exchange derivatives hedging balance sheet
items
21.8
Net position in the balance sheet
-31.2
2.5
5.3
8.1
4.6
0.0
A 10 % strengthening
or weakening
of the euro
against other
currencies
would have
the
following
effect on
profit after
tax, based
on the exposures
shown above.
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\n
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\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, effect on income statement after tax
2025, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Change + 10 %
2.4
-0.1
-0.4
-0.5
-0.3
-0.1
Change - 10 %
-2.9
0.1
0.5
0.6
0.4
0.2
2024, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Change + 10 %
2.3
-0.2
-0.4
-0.6
-0.7
0.0
Change - 10 %
-2.8
0.2
0.5
0.7
0.9
0.0
Translation risk
Translation
risk arises
when the financial
statements
of foreign subsidiaries
are translated
into euros
for consolidation.
For foreign
-currency-denominated
net investments,
changes in
exchange rates
are
recognised as translation differences in equity. Under
normal circumstances Lindex
Group selectively
hedges translation
risk related
to net investments
using foreign-
currency loans
or derivatives,
taking into
account the
potential impact
on profit,
balance
sheet, cash
flows, and
hedging costs.
Under the Board-approved policy, the degree of hedging may vary between
0-100%. At
the end of
2025, translation
risk remained
unhedged.
The table below
shows the impact
on the Group\u2019s
equity of a
10% change
in the euro
against the
functional
currencies
of the Group
companies.
The analysis
includes the
impact arising
from the translation
of foreign-currency
-denominated
net investments
into
euros.
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\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, effect on equity
2025, EUR mill.
SEK
Change + 10 %
-58.6
Change - 10 %
71.7
2024, EUR mill.
SEK
Change + 10 %
-58.4
Change - 10 %
71.4
Interest rate
risk
Interest rate
fluctuations
affect the
Group\u2019s interest
expenses and
income. The
objective
is to reduce
uncertainty
in earnings
arising from
changes in interest
rates. The
duration of
the loan and
investment
portfolio is
limited to
five years.
Interest rate
derivatives
may be
used but were
not in use
at year-end
2025.
Interest-bearing
liabilities
consist mainly
of a five-year
bullet bond
(excl. IFRS16
lease
liabilities)
issued to certain
unsecured creditors
who were entitled
to convert
their
receivables
into senior
secured bonds.
The bond matures
in July 2026
and bears
interest
at 0.10 % per annum.
Interest-bearing
receivables
consist mainly
of bank receivables
in various
currencies
with
maturities
of less than
one month.
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
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\n
\n
\n
\n
\n
Interest terms of the Group's interest-bearing liabilities and
bank
receivables on 31 December 2025:
Interest rate adjustment, period,
EUR mill.
< 12 months
1\u20133 years
3\u20135 years
Total
Bond Issues
73.1
73.1
Other interest-bearing liabilities
10.1
10.1
Total
83.3
0.0
0.0
83.3
Cash and bank receivables
-134.8
-134.8
Total
-51.6
0.0
0.0
-51.6
\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Interest terms of the Group's interest-bearing liabilities
and bank receivables on
31 December 2024:
Interest rate adjustment, period, EUR
mill.
< 12 months
1\u20133 years
3\u20135 years
Total
Bond Issues
73.1
73.1
Other interest-bearing liabilities
6.8
3.0
9.8
Total
6.8
76.2
0.0
82.9
Cash and bank receivables
-114.7
-114.7
Total
-107.9
76.2
0.0
-31.7
Electricity
price risk
Lindex Group
has entered
into electricity
price commitments
to mitigate
the risk
associated
with future
electricity
procurement.
In line with
the Group\u2019s
financial policy,
the
commitment
level for
future electricity
prices is set
between 50%
and 80% for
the years
2026-2027. As
both divisions
have secured
energy price
commitments
for the majority
of
their electricity
consumption,
a 20 percentage
point fluctuation
in the market
price of
electricity
would not have
a material
impact on
the Group\u2019s
net result
or equity.
In
addition,
the solar
panels installed
on the roof
of Lindex's
omnichannel
distribution
centre
somewhat
reduce the
Group's dependence
on external
electricity
purchases.
Financing
and liquidity
risk
Financing
risk refers
to the risk
that the Group
cannot meet
its payment
obligations
due to
insufficient
liquid funds,
breach of terms
of the financing
facilities
or difficulties
in
obtaining funding. To mitigate this risk, the Group
maintains long-term committed credit
facilities
and a liquidity
reserve equivalent
to at least
to at least
one month's
average
operational
cash outflows
.
Cash and cash
equivalents,
together with
unused committed
and uncommitted
credit facilities
form the liquidity
reserve.
At the reporting
date, the
Group had cash
and cash equivalents
of EUR 134.8
million
(114.7).
In addition,
the Group
has a committed
secured revolving
credit facility
of EUR 40
million maturing
in July 2028
,
which remained
unused during
2023-2025. Events
after the
reporting
period relevant
to the Group\u2019s
financing arrangements
are disclosed
in Note 5.9.
The Group\u2019s EUR 73.1 million bond will mature in July 2026. Based on the Group\u2019s
liquidity
planning and
available
financing arrangements,
management
assesses that
the
Group has
sufficient
liquidity and
financing capacity
to meet its
obligations
as they fall
due.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Liquid assets and unused committed credit facilities
EUR mill.
2025
2024
Cash and cash equivalents
134.8
114.7
Credit facility
40.0
40.0
Total
174.8
154.7
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
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\n
\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Cash flows based on agreements in financial liabilities,
including financing costs, on 31 December 2025
EUR mill.
Carrying amount
2026
2027
2028
2029
2030-
Total
Current liabilities bond (5-y bullet)
73.1
73.1
73.1
Current liabilities, interest-bearing
10.1
-10.1
-10.1
Current trade payables
107.2
-107.2
-107.2
Non-current lease liabilities
500.9
-104.5
-93.0
-83.6
-377.1
-658.2
Current lease liabilities
93.5
-112.5
-112.5
Lease liabilities, total
594.4
-112.5
-104.5
-93.0
-83.6
-377.1
-770.7
Total
784.8
-156.7
-104.5
-93.0
-83.6
-377.1
-814.9
Currency derivatives
0.3
Assets
26.4
26.4
Liabilities
-26.6
-26.6
Total
0.3
-0.2
0.0
0.0
0.0
0.0
-0.2
In July 2021 EUR 66.1 mill. of the restructuring debt
was converted into a new bond, which will
be repaid in 2026 and to which annual
interest of EUR 0.1 mill. will be paid.
In 2022 more bonds were converted with
EUR 1.5 mill., in 2023 with EUR 4.4 mill. and
in 2024 with EUR 1.1 mill.
Carrying amount of lease liabilities is discounted
in accordance with IFRS 16. Annual cash
flows are presented in nominal values.
\n
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\n
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\n
\n
\n
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\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Cash flows based on agreements in financial liabilities, including
financing costs, on 31 December 2024
EUR mill.
Carrying amount
2025
2026
2027
2028
2029-
Total
Non-current bond (5-y bullet)
73.1
-0.1
-73.2
-73.3
Non-current liabilities
3.0
-3.0
-3.0
Current liabilities interst-bearing
6.8
-6.8
-6.8
Current trade payables and other current liabilities
91.3
-91.3
-91.3
Non-current lease liabilities
512.9
-102.6
-92.1
-79.9
-407.1
-681.7
Current lease liabilities
90.3
-109.8
-109.8
Lease liabilities, total
603.1
-109.8
-102.6
-92.1
-79.9
-407.1
-791.4
Total
777.3
-207.9
-178.8
-92.1
-79.9
-407.1
-965.8
The cash flows presented are based on the restructuring
programme approved on 9 February 2021
and they include financing costs.
In July 2021 EUR 66.1 mill. of the restructuring debt
was converted into a new bond, which will
be repaid in 2026 and to which annual
interest of EUR 0.1 mill. will be paid.
In 2022 more bonds were converted with
EUR 1.5 mill., in 2023 with EUR 4.4 mill. and
in 2024 with EUR 1.1 mill. Provisions regarding
disputed landlords' claims are not included in
the cash flows.
Credit and
counterparty
risk
Trade
receivables,
investment-related
receivables
and derivative
contracts
expose the
Group to credit
risk. Counterparty
risk related
to investments
is managed through
counterparty
limits approved
by the Board
of Directors.
Derivative contracts
are
concluded
only with counterparties
deemed highly
creditworthy
and financially
sound.
Cash assets
are invested
in liquid,
low-risk financial
instruments,
and on 31
December
2025, the
Group's liquid
assets consisted
primarily of
short-term bank
deposits.
The Group\u2019s
credit risk
arising from
trade receivables
is limited,
as the receivables
are
widely diversified
and counterparties\u2019
creditworthiness
is assessed
before credit
is
granted.
\n
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\n
\n
Ageing of trade and lease receivables
31 December 2025
EUR mill.
Gross
carrying
amount
Loss
allowance
Trade receivables not due
14.8
0.0
Trade receivables fallen due in 1\u201330 days
1.1
0.0
Trade receivables fallen due in 31\u201360 days
0.6
0.0
Trade receivables fallen due in 61\u201390 days
0.5
0.0
Trade receivables fallen due in over 120 days
1.5
1.4
Total
18.6
1.4
\n
\n
\n
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\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31 December 2024
EUR mill.
Gross carrying
amount
Loss allowance
Trade receivables not due
15.1
0.0
Trade receivables fallen due in 1\u201330 days
0.6
0.0
Trade receivables fallen due in 31\u201360 days
0.1
0.0
Trade receivables fallen due in 61\u201390 days
0.1
0.0
Trade receivables fallen due in 91\u2013120 days
0.1
0.0
Trade receivables fallen due in over 120 days
1.2
1.2
Total
17.2
1.2
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_99": { "value": "
Financial risk management
The Group\u2019s
financing
activities
and financial
risk management
are centralised
within
Lindex Group
plc\u2019s Treasury
function and
conducted
in accordance
with the financial
policy approved
by the Board
of Directors.
Following
the corporate
restructuring
of Lindex
Group plc initiated
in April 2020,
the
company\u2019s
external debts
were subject
to restructuring,
all derivative
positions were
closed, and
hedging facilities
were cancelled
by the banks.
The restructuring
programme
was approved
in February
2021 and concluded
on 15 August
2025, after
the company
had settled
the final
remaining restructuring
debts and
fulfilled
its other
obligations
under
the restructuring
programme.
During the
restructuring
proceedings,
the Group
had limited
ability to
manage financial
risks in line
with its financial
policy.
This note describes
the
Group\u2019s
risk management
framework
under normal
circumstances.
The objective
of financial
risk management
is to ensure
access to adequate
financing
under all circumstances
and to mitigate
the impact
of market
risks on the
Group\u2019s income
statement and balance sheet. Group Treasury, reporting to the Chief Financial Officer
of
Lindex Group
plc, manages
the Group\u2019s
financial exposures
and executes
hedging
strategies
based on detailed
internal guidelines
for managing
financial
risks, liquidity
and
financing.
Divisions may
issue additional
instructions
regarding the
hedging of
foreign
exchange exposures.
The Group\u2019s
main financial
risks are currency
risk, interest
rate risk,
financing
and liquidity
risk, credit
and counterparty
risk and electricity
price risk.
Currency
risk
The Group\u2019s
currency risk
arises from
sales and
purchases in
foreign currencies,
balance-sheet
items denominated
in foreign
currencies,
and foreign-currency-
denominated
net investments
in units abroad.
Transaction risk
Transaction
risk arises
from currency
flows related
to sales, purchases,
loans and
receivables.
In 2025, the
main sales
currencies
were the euro,
Swedish krona,
and
Norwegian
krone. The
primary purchasing
currencies
were the euro,
US dollar and
Swedish krona.
In 2025, non
-euro sales
represented
54 % of total
sales (2024:
53 %).
Purchases
subject to
transaction
risk represented
49 % of total
purchases
(2024: 52 %).
In addition,
the Group
makes purchases
in foreign
currency without
a transaction
risk,
mainly local
purchases in
Sweden. In
2025 these
purchases
accounted for
3 % of the
Group\u2019s
total purchases
(2024: 4 %).
Divisions
forecast net
cash flows
in foreign currencies
and manage
the related
currency
risks. Hedging
is based on
six-month cash
flow forecasts,
and hedging
ratios for
individual
currencies
may vary between
0\u2013100%. Contracted
cash flows
may be hedged
for longer periods.
During the
restructuring
proceedings,
the Group
was unable
to hedge foreign
exchange
exposures.
AB Lindex obtained
hedging facilities
in September
2021 and currently
hedges its transaction exposure in accordance with the treasury policy. Lindex Group plc
does not currently
have hedging
facilities,
new facilities
will be negotiated
during 2026.
Currency derivatives
used to hedge
forecasted
cash flows
are classified
as cash flow
hedges. The
Lindex division
carries the
main transaction
exposure,
while the Stockmann
division primarily
operates in
its functional
currency and
therefore has
limited exposure.
Outstanding
cash-flow hedges
cover the
Lindex division\u2019s
purchases in
US-dollars and
sales in
Swedish Krona,
Norwegian
Krona, euro
and Czech Koruna,
and mature
during
the first
five months
of 2026. The
gain or loss
from these
hedging instruments
will affect
the Group\u2019s
operating profit
during the
period in
which the forecasted
hedged items
affect
profit, typically 4-5 months after maturity. Information on fair value is presented in Note
4.10. No ineffectiveness
arose on cash
flow hedges
during 2025.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Foreign exchange derivatives hedging cash flows
EUR mill.
2025
2024
USD
39.3
47.2
SEK
-18.0
-21.5
NOK
-10.2
-11.2
EUR
-7.8
-10.1
CZK
-3.4
-2.8
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, cash flow hedges, effect on equity
after tax
2025, EUR mill.
USD
SEK
NOK
CZK
Change + 10 %
-2.8
-0.6
0.7
0.2
Change - 10 %
3.5
0.7
-0.9
-0.3
2024, EUR mill.
USD
SEK
NOK
CZK
Change + 10 %
-3.4
-0.7
0.8
0.2
Change - 10 %
4.2
0.9
-1.0
-0.2
All
outstanding
ca
sh flow hedges
relate to the
Lindex division,
whose functional
currency
is the Swedish
Krona. At year
-end, cash
-flow hedges
covered approximately
62 % of the
Group\u2019s
expected net
USD flows
for the next
six months.
Foreign subsidiaries
are financed
primarily in
local currency,
meaning they
do not incur
significant
transaction
risks beyond
sales and purchases
in foreign
currency.
Group
Treasury
manages currency
risk related
to foreign-currency
-denominated
receivables
and
liabilities,
with a hedging
ratio of 0 \u2013
100%.
The table below
presents the
Group\u2019s
transaction
exposure comprising
foreign-currency-
denominated
assets and
liabilities
together with
the derivatives
designated
to hedge these
items. Forecasted
cash flows
and the derivatives
used to hedge
forecasted cash
flows are
excluded.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
The Group\u2019s transaction exposure
2025, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Receivables
-4.7
1.6
17.7
6.6
6.5
2.3
Trade payables and other current liabilities
-28.5
0.0
-12.2
0.0
-22.7
-0.3
Foreign currency exposure in the balance sheet
-33.2
1.5
5.5
6.6
-16.2
2.0
Foreign exchange derivatives hedging balance sheet
items
20.4
Net position in the balance sheet
-33.2
1.5
5.5
6.6
4.2
2.0
2024, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Receivables
3.0
2.5
12.5
8.1
6.3
Trade payables and other current liabilities
-34.1
-7.3
-23.4
Foreign currency exposure in the balance sheet
-31.2
2.5
5.3
8.1
-17.2
0.0
Foreign exchange derivatives hedging balance sheet
items
21.8
Net position in the balance sheet
-31.2
2.5
5.3
8.1
4.6
0.0
A 10 % strengthening
or weakening
of the euro
against other
currencies
would have
the
following
effect on
profit after
tax, based
on the exposures
shown above.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, effect on income statement after tax
2025, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Change + 10 %
2.4
-0.1
-0.4
-0.5
-0.3
-0.1
Change - 10 %
-2.9
0.1
0.5
0.6
0.4
0.2
2024, EUR mill.
SEK
GBP
NOK
CZK
USD
DKK
Change + 10 %
2.3
-0.2
-0.4
-0.6
-0.7
0.0
Change - 10 %
-2.8
0.2
0.5
0.7
0.9
0.0
Translation risk
Translation
risk arises
when the financial
statements
of foreign subsidiaries
are translated
into euros
for consolidation.
For foreign
-currency-denominated
net investments,
changes in
exchange rates
are
recognised as translation differences in equity. Under
normal circumstances Lindex
Group selectively
hedges translation
risk related
to net investments
using foreign-
currency loans
or derivatives,
taking into
account the
potential impact
on profit,
balance
sheet, cash
flows, and
hedging costs.
Under the Board-approved policy, the degree of hedging may vary between
0-100%. At
the end of
2025, translation
risk remained
unhedged.
The table below
shows the impact
on the Group\u2019s
equity of a
10% change
in the euro
against the
functional
currencies
of the Group
companies.
The analysis
includes the
impact arising
from the translation
of foreign-currency
-denominated
net investments
into
euros.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, effect on equity
2025, EUR mill.
SEK
Change + 10 %
-58.6
Change - 10 %
71.7
2024, EUR mill.
SEK
Change + 10 %
-58.4
Change - 10 %
71.4
Interest rate
risk
Interest rate
fluctuations
affect the
Group\u2019s interest
expenses and
income. The
objective
is to reduce
uncertainty
in earnings
arising from
changes in interest
rates. The
duration of
the loan and
investment
portfolio is
limited to
five years.
Interest rate
derivatives
may be
used but were
not in use
at year-end
2025.
Interest-bearing
liabilities
consist mainly
of a five-year
bullet bond
(excl. IFRS16
lease
liabilities)
issued to certain
unsecured creditors
who were entitled
to convert
their
receivables
into senior
secured bonds.
The bond matures
in July 2026
and bears
interest
at 0.10 % per annum.
Interest-bearing
receivables
consist mainly
of bank receivables
in various
currencies
with
maturities
of less than
one month.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Interest terms of the Group's interest-bearing liabilities and
bank
receivables on 31 December 2025:
Interest rate adjustment, period,
EUR mill.
< 12 months
1\u20133 years
3\u20135 years
Total
Bond Issues
73.1
73.1
Other interest-bearing liabilities
10.1
10.1
Total
83.3
0.0
0.0
83.3
Cash and bank receivables
-134.8
-134.8
Total
-51.6
0.0
0.0
-51.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Interest terms of the Group's interest-bearing liabilities
and bank receivables on
31 December 2024:
Interest rate adjustment, period, EUR
mill.
< 12 months
1\u20133 years
3\u20135 years
Total
Bond Issues
73.1
73.1
Other interest-bearing liabilities
6.8
3.0
9.8
Total
6.8
76.2
0.0
82.9
Cash and bank receivables
-114.7
-114.7
Total
-107.9
76.2
0.0
-31.7
Electricity
price risk
Lindex Group
has entered
into electricity
price commitments
to mitigate
the risk
associated
with future
electricity
procurement.
In line with
the Group\u2019s
financial policy,
the
commitment
level for
future electricity
prices is set
between 50%
and 80% for
the years
2026-2027. As
both divisions
have secured
energy price
commitments
for the majority
of
their electricity
consumption,
a 20 percentage
point fluctuation
in the market
price of
electricity
would not have
a material
impact on
the Group\u2019s
net result
or equity.
In
addition,
the solar
panels installed
on the roof
of Lindex's
omnichannel
distribution
centre
somewhat
reduce the
Group's dependence
on external
electricity
purchases.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_100": { "value": "
Translation risk
Translation
risk arises
when the financial
statements
of foreign subsidiaries
are translated
into euros
for consolidation.
For foreign
-currency-denominated
net investments,
changes in
exchange rates
are
recognised as translation differences in equity. Under
normal circumstances Lindex
Group selectively
hedges translation
risk related
to net investments
using foreign-
currency loans
or derivatives,
taking into
account the
potential impact
on profit,
balance
sheet, cash
flows, and
hedging costs.
Under the Board-approved policy, the degree of hedging may vary between
0-100%. At
the end of
2025, translation
risk remained
unhedged.
The table below
shows the impact
on the Group\u2019s
equity of a
10% change
in the euro
against the
functional
currencies
of the Group
companies.
The analysis
includes the
impact arising
from the translation
of foreign-currency
-denominated
net investments
into
euros.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Sensitivity Analysis, effect on equity
2025, EUR mill.
SEK
Change + 10 %
-58.6
Change - 10 %
71.7
2024, EUR mill.
SEK
Change + 10 %
-58.4
Change - 10 %
71.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_101": { "value": "
Financing
and liquidity
risk
Financing
risk refers
to the risk
that the Group
cannot meet
its payment
obligations
due to
insufficient
liquid funds,
breach of terms
of the financing
facilities
or difficulties
in
obtaining funding. To mitigate this risk, the Group
maintains long-term committed credit
facilities
and a liquidity
reserve equivalent
to at least
to at least
one month's
average
operational
cash outflows
.
Cash and cash
equivalents,
together with
unused committed
and uncommitted
credit facilities
form the liquidity
reserve.
At the reporting
date, the
Group had cash
and cash equivalents
of EUR 134.8
million
(114.7).
In addition,
the Group
has a committed
secured revolving
credit facility
of EUR 40
million maturing
in July 2028
,
which remained
unused during
2023-2025. Events
after the
reporting
period relevant
to the Group\u2019s
financing arrangements
are disclosed
in Note 5.9.
The Group\u2019s EUR 73.1 million bond will mature in July 2026. Based on the Group\u2019s
liquidity
planning and
available
financing arrangements,
management
assesses that
the
Group has
sufficient
liquidity and
financing capacity
to meet its
obligations
as they fall
due.
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Liquid assets and unused committed credit facilities
EUR mill.
2025
2024
Cash and cash equivalents
134.8
114.7
Credit facility
40.0
40.0
Total
174.8
154.7
\n
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\n
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\n
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\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Cash flows based on agreements in financial liabilities,
including financing costs, on 31 December 2025
EUR mill.
Carrying amount
2026
2027
2028
2029
2030-
Total
Current liabilities bond (5-y bullet)
73.1
73.1
73.1
Current liabilities, interest-bearing
10.1
-10.1
-10.1
Current trade payables
107.2
-107.2
-107.2
Non-current lease liabilities
500.9
-104.5
-93.0
-83.6
-377.1
-658.2
Current lease liabilities
93.5
-112.5
-112.5
Lease liabilities, total
594.4
-112.5
-104.5
-93.0
-83.6
-377.1
-770.7
Total
784.8
-156.7
-104.5
-93.0
-83.6
-377.1
-814.9
Currency derivatives
0.3
Assets
26.4
26.4
Liabilities
-26.6
-26.6
Total
0.3
-0.2
0.0
0.0
0.0
0.0
-0.2
In July 2021 EUR 66.1 mill. of the restructuring debt
was converted into a new bond, which will
be repaid in 2026 and to which annual
interest of EUR 0.1 mill. will be paid.
In 2022 more bonds were converted with
EUR 1.5 mill., in 2023 with EUR 4.4 mill. and
in 2024 with EUR 1.1 mill.
Carrying amount of lease liabilities is discounted
in accordance with IFRS 16. Annual cash
flows are presented in nominal values.
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
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\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Cash flows based on agreements in financial liabilities, including
financing costs, on 31 December 2024
EUR mill.
Carrying amount
2025
2026
2027
2028
2029-
Total
Non-current bond (5-y bullet)
73.1
-0.1
-73.2
-73.3
Non-current liabilities
3.0
-3.0
-3.0
Current liabilities interst-bearing
6.8
-6.8
-6.8
Current trade payables and other current liabilities
91.3
-91.3
-91.3
Non-current lease liabilities
512.9
-102.6
-92.1
-79.9
-407.1
-681.7
Current lease liabilities
90.3
-109.8
-109.8
Lease liabilities, total
603.1
-109.8
-102.6
-92.1
-79.9
-407.1
-791.4
Total
777.3
-207.9
-178.8
-92.1
-79.9
-407.1
-965.8
The cash flows presented are based on the restructuring
programme approved on 9 February 2021
and they include financing costs.
In July 2021 EUR 66.1 mill. of the restructuring debt
was converted into a new bond, which will
be repaid in 2026 and to which annual
interest of EUR 0.1 mill. will be paid.
In 2022 more bonds were converted with
EUR 1.5 mill., in 2023 with EUR 4.4 mill. and
in 2024 with EUR 1.1 mill. Provisions regarding
disputed landlords' claims are not included in
the cash flows.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_102": { "value": "
Credit and
counterparty
risk
Trade
receivables,
investment-related
receivables
and derivative
contracts
expose the
Group to credit
risk. Counterparty
risk related
to investments
is managed through
counterparty
limits approved
by the Board
of Directors.
Derivative contracts
are
concluded
only with counterparties
deemed highly
creditworthy
and financially
sound.
Cash assets
are invested
in liquid,
low-risk financial
instruments,
and on 31
December
2025, the
Group's liquid
assets consisted
primarily of
short-term bank
deposits.
The Group\u2019s
credit risk
arising from
trade receivables
is limited,
as the receivables
are
widely diversified
and counterparties\u2019
creditworthiness
is assessed
before credit
is
granted.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Ageing of trade and lease receivables
31 December 2025
EUR mill.
Gross
carrying
amount
Loss
allowance
Trade receivables not due
14.8
0.0
Trade receivables fallen due in 1\u201330 days
1.1
0.0
Trade receivables fallen due in 31\u201360 days
0.6
0.0
Trade receivables fallen due in 61\u201390 days
0.5
0.0
Trade receivables fallen due in over 120 days
1.5
1.4
Total
18.6
1.4
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31 December 2024
EUR mill.
Gross carrying
amount
Loss allowance
Trade receivables not due
15.1
0.0
Trade receivables fallen due in 1\u201330 days
0.6
0.0
Trade receivables fallen due in 31\u201360 days
0.1
0.0
Trade receivables fallen due in 61\u201390 days
0.1
0.0
Trade receivables fallen due in 91\u2013120 days
0.1
0.0
Trade receivables fallen due in over 120 days
1.2
1.2
Total
17.2
1.2
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_103": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Ageing of trade and lease receivables
31 December 2025
EUR mill.
Gross
carrying
amount
Loss
allowance
Trade receivables not due
14.8
0.0
Trade receivables fallen due in 1\u201330 days
1.1
0.0
Trade receivables fallen due in 31\u201360 days
0.6
0.0
Trade receivables fallen due in 61\u201390 days
0.5
0.0
Trade receivables fallen due in over 120 days
1.5
1.4
Total
18.6
1.4
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31 December 2024
EUR mill.
Gross carrying
amount
Loss allowance
Trade receivables not due
15.1
0.0
Trade receivables fallen due in 1\u201330 days
0.6
0.0
Trade receivables fallen due in 31\u201360 days
0.1
0.0
Trade receivables fallen due in 61\u201390 days
0.1
0.0
Trade receivables fallen due in 91\u2013120 days
0.1
0.0
Trade receivables fallen due in over 120 days
1.2
1.2
Total
17.2
1.2
Lindex Group
recognises
impairment
provisions
based on lifetime
expected credit
losses
from trade
and lease
receivables
in accordance
with IFRS 9.
The Group
applies a
simplified
credit loss
matrix for
trade and lease
receivables.
Accordingly,
the credit
loss
allowance
is measured
at an amount
equal to the
lifetime expected
credit losses.
The
expected credit
loss model
is forward-looking
and the expected
default rates
are based
on historical
realised credit
losses. The
lifetime expected
credit loss
allowance
is
calculated
using the
gross carrying
amount of
outstanding
trade receivables
in each
ageing bucket
and the expected
default rate.
The changes
in expected
credit losses
are
recognised
in other operating
expenses.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_104": { "value": "
Derivative contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2025
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
0.1
-0.3
-0.2
Total
0.1
-0.3
-0.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2024
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
1.5
1.5
Total
1.5
1.5
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial assets, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.1
0.1
1.5
1.5
Financial assets at amortised
cost
Non-current receivables
3.5
3.5
3.3
3.3
Current receivables, non-
interest-bearing
42.3
42.3
40.8
40.8
Cash and cash equivalents
134.8
134.8
114.7
114.7
Other investments
3
0.4
0.4
0.4
0.4
Financial assets, total
181.1
181.1
160.7
160.7
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n
\n
\n
\n
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\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Financial liabilities, EUR mill.
Level
Carrying
amount 2025
Fair value
2025
Carrying
amount 2024
Fair value
2024
Derivative contracts, hedge
accounting applied
2
0.3
0.3
0.0
0.0
Financial liabilities at
amortised cost
Non-current interest-bearing
liabilities
2
0.0
0.0
76.1
71.2
Non-current lease liabilities
500.9
500.9
512.9
512.9
Non-current non-interest-
bearing liabilities
0.2
0.2
0.4
0.4
Current liabilities, interest-
bearing
2
83.3
81.4
6.8
6.8
Current lease liabilities
93.5
93.5
90.3
90.3
Current liabilities, non-interest-
bearing
179.0
179.0
164.1
164.1
Financial liabilities, total
857.1
855.2
850.5
845.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
In the balance
sheet, derivative
contracts are
included in
the following
categories:
non-
current and
current receivables,
non-interest-bearing
and non-current
and current
liabilities,
non-interest-bearing.
Level 3 financial
assets consist
of shares
in unlisted
companies.
Their fair
value is
determined
using valuation
techniques based
on management
\u2019s judgment.
Gains and
losses from
these investments
are recognised
in other operating
income or
other
operating expenses,
as acquisition
and disposal
decisions are
made for business
purposes.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Change in fair value of other investments, EUR
mill.
2025
2024
Carrying amount 1.1.
0.4
0.4
Increases during the period
Carrying amount 31.12.
0.4
0.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_105": { "value": "
Derivative contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Nominal values of derivative contracts
Derivative contracts, hedge accounting applied
EUR mill.
2025
2024
Cash flow hedges, currency forwards
39.4
45.6
Total
39.4
45.6
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2025
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
0.1
-0.3
-0.2
Total
0.1
-0.3
-0.2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Fair value of derivative contracts 2024
Derivative contracts, hedge accounting applied
EUR mill.
Positive
Negative
Net
Cash flow hedges, currency forwards
1.5
1.5
Total
1.5
1.5
Currency derivatives
are measured
at fair value
using market
prices at
the balance
sheet
date. Changes
in fair value
are recogised
either in equity
or in profit
and loss,
depending
on whether
hedge accounting
is applied.
No hedge-ineffectiveness
relating to
currency
derivatives
was recogni
sed on profit
or loss in
2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_106": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Change in fair value of other investments, EUR
mill.
2025
2024
Carrying amount 1.1.
0.4
0.4
Increases during the period
Carrying amount 31.12.
0.4
0.4
", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_107": { "value": "
Shareholders\u2019 equity
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
Entered in trade
register
Number of shares, B
Share capital
Invested
unrestricted
equity fund
Total
31.12.2023
158,715,555
77.6
75.9
153.5
Share issue
26.1.2024
307,489
Share issue
24.6.2024
2,599,852
31.12.2024
161,622,896
77.6
78.6
156.1
Share issue
1.5.2025
112,324
Share issue
21.7.2025
2,306,171
31.12.2025
164,041,391
77.6
80.7
158.2
Share capital
and number
of shares
In April 2025,
the Company\u2019s
Board of
Directors resolved
on a directed
share issue
without consideration
to the participants
of the Performance
Share Plan
in order to
deliver
the share
rewards. In
the share
issue, 112,324
new shares
were, in
deviation from
the
shareholders\u2019
pre-emptive
subscription
right, issued
without consideration
to the
management
and key personnel
of the company
in order to
deliver the
rewards under
the
performance
period 2022
-2024.
In July 2025,
the Company\u2019s
Board of
Directors decided,
in accordance
with the
restructuring
programme
and pursuant
to the authorization
granted by
the Annual
General
Meeting, to issue 2,306,171 new shares in the Company,
in deviation from the
shareholders\u2019
pre-emptive
subscription
rights to
fulfil obligations
under the restructuring
programme,
and approved
the subscription
made in the
share issue.
The subscription
price in
the share issue
was EUR 0.9106
per share,
which has
been paid
by setting
off
restructuring
debt in accordance
with the restructuring
programme.
As a result
of the share
issues
in April and
June 2025,
the total number
of shares
in the
Company increase
d
to a total of
164,041,391
shares.
On 31 December
2025
Lindex Group
plc\u2019s share
capital was
EUR 77.6 million,
and all
shares issued
have been fully
paid.
Redemption
obligation
A shareholder
whose holding
of all the
Company\u2019s shares
or voting
rights, either
alone or
together
with other shareholders
,
reaches or
exceeds 33
1/3% or 50%
is obliged,
upon
the demand
of the other
shareholders,
to redeem their
shares in
accordance
with the
provisions
of the Articles
of Association.
Invested unrestricted
equity fund
The invested
unrestricted
equity fund
comprises
other equity
-like investments
and the
share subscription
price, less
transaction
costs, to
the extent
that these
amounts are
not
recorded
in share capital
under a specific
resolution.
The share issue
carried out
in 2025
has been
recognised as
an addition
to the invested
unrestricted
equity fund.
Translation reserve
The translation
reserve includes
translation
differences
arising from
the consolidation
of
foreign subsidiaries
\u2019
financial statements
and from the
consolidation
of net investment
s
in
foreign currencies.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Other funds
EUR mill.
2025
2024
Hedging reserve
-0.2
1.5
Reserve fund
0.2
0.2
Total
0.0
1.8
Other funds
comprise:
-
Reserve fund
, which includes
amounts
transferred
from unrestricted
shareholders\u2019
equity in
accordance
with local
regulations
-
Hedging reserve
, which reflects
changes in
the fair value
of derivatives
used to
hedge cash flows, net of the deferred tax liability.
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_108": { "value": "
Shareholders\u2019 equity
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
Entered in trade
register
Number of shares, B
Share capital
Invested
unrestricted
equity fund
Total
31.12.2023
158,715,555
77.6
75.9
153.5
Share issue
26.1.2024
307,489
Share issue
24.6.2024
2,599,852
31.12.2024
161,622,896
77.6
78.6
156.1
Share issue
1.5.2025
112,324
Share issue
21.7.2025
2,306,171
31.12.2025
164,041,391
77.6
80.7
158.2
Share capital
and number
of shares
In April 2025,
the Company\u2019s
Board of
Directors resolved
on a directed
share issue
without consideration
to the participants
of the Performance
Share Plan
in order to
deliver
the share
rewards. In
the share
issue, 112,324
new shares
were, in
deviation from
the
shareholders\u2019
pre-emptive
subscription
right, issued
without consideration
to the
management
and key personnel
of the company
in order to
deliver the
rewards under
the
performance
period 2022
-2024.
In July 2025,
the Company\u2019s
Board of
Directors decided,
in accordance
with the
restructuring
programme
and pursuant
to the authorization
granted by
the Annual
General
Meeting, to issue 2,306,171 new shares in the Company,
in deviation from the
shareholders\u2019
pre-emptive
subscription
rights to
fulfil obligations
under the restructuring
programme,
and approved
the subscription
made in the
share issue.
The subscription
price in
the share issue
was EUR 0.9106
per share,
which has
been paid
by setting
off
restructuring
debt in accordance
with the restructuring
programme.
As a result
of the share
issues
in April and
June 2025,
the total number
of shares
in the
Company increase
d
to a total of
164,041,391
shares.
On 31 December
2025
Lindex Group
plc\u2019s share
capital was
EUR 77.6 million,
and all
shares issued
have been fully
paid.
Redemption
obligation
A shareholder
whose holding
of all the
Company\u2019s shares
or voting
rights, either
alone or
together
with other shareholders
,
reaches or
exceeds 33
1/3% or 50%
is obliged,
upon
the demand
of the other
shareholders,
to redeem their
shares in
accordance
with the
provisions
of the Articles
of Association.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_109": { "value": "
Redemption
obligation
A shareholder
whose holding
of all the
Company\u2019s shares
or voting
rights, either
alone or
together
with other shareholders
,
reaches or
exceeds 33
1/3% or 50%
is obliged,
upon
the demand
of the other
shareholders,
to redeem their
shares in
accordance
with the
provisions
of the Articles
of Association.
Invested unrestricted
equity fund
The invested
unrestricted
equity fund
comprises
other equity
-like investments
and the
share subscription
price, less
transaction
costs, to
the extent
that these
amounts are
not
recorded
in share capital
under a specific
resolution.
The share issue
carried out
in 2025
has been
recognised as
an addition
to the invested
unrestricted
equity fund.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_110": { "value": "
Invested unrestricted
equity fund
The invested
unrestricted
equity fund
comprises
other equity
-like investments
and the
share subscription
price, less
transaction
costs, to
the extent
that these
amounts are
not
recorded
in share capital
under a specific
resolution.
The share issue
carried out
in 2025
has been
recognised as
an addition
to the invested
unrestricted
equity fund.
Translation reserve
The translation
reserve includes
translation
differences
arising from
the consolidation
of
foreign subsidiaries
\u2019
financial statements
and from the
consolidation
of net investment
s
in
foreign currencies.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Other funds
EUR mill.
2025
2024
Hedging reserve
-0.2
1.5
Reserve fund
0.2
0.2
Total
0.0
1.8
Other funds
comprise:
-
Reserve fund
, which includes
amounts
transferred
from unrestricted
shareholders\u2019
equity in
accordance
with local
regulations
-
Hedging reserve
, which reflects
changes in
the fair value
of derivatives
used to
hedge cash flows, net of the deferred tax liability.
", "dimensions": { "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_111": { "value": "
Dividends
The dividend
proposed by
the Board of
Directors is
not recognised
in the financial
statements.
Dividends are
recognised
only when
approved by
a resolution
of the General
Meeting of
shareholders.
The terms
of the senior
secured bonds
issued in
July 2021 do
not permit
dividend
payments.
During the
restructuring
programme
in 2021-2025,
Lindex Group
plc was not
permitted
to distribute
funds either.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_112": { "value": "
Dividends
The dividend
proposed by
the Board of
Directors is
not recognised
in the financial
statements.
Dividends are
recognised
only when
approved by
a resolution
of the General
Meeting of
shareholders.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_113": { "value": "
Earnings per
share
Basic earnings
per share is
calculated
by dividing
the profit
for the period
attributable
to
the parent
company's shareholders
by the weighted
average number
of shares
outstanding
during the
financial period.
The outstanding
shares do
not include
treasury
shares held
by the Group.
Diluted earnings
per share is
calculated
by adjusting
the weighted
average number
of
shares by
the effect
of potential
diluting shares
such as shares
from share-based
payments.
Lindex Group
has long-term
incentive schemes,
which can be
settled in
company shares.
These contingently
issuable shares
are issuable
when certain
pre-
defined conditions
in the incentive
programmes
are met during
a timeframe
set in the
incentive
programmes\u2019
conditions.
If the settlement
happened at
the reporting
date, it
would result
in issuing
577.692 (747.162)
shares.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
EUR mill.
2025
2024
Profit/loss for the period attributable to the equity
holders of the parent company
26.2
13.2
Weighted average number of shares
162,731,452
160,358,794
Weighted diluted number of shares
163,309,144
161,105,956
Basic earnings per share, EUR
0.16
0.08
Diluted earnings per share, EUR
0.16
0.08
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_114": { "value": "
Earnings per
share
Basic earnings
per share is
calculated
by dividing
the profit
for the period
attributable
to
the parent
company's shareholders
by the weighted
average number
of shares
outstanding
during the
financial period.
The outstanding
shares do
not include
treasury
shares held
by the Group.
Diluted earnings
per share is
calculated
by adjusting
the weighted
average number
of
shares by
the effect
of potential
diluting shares
such as shares
from share-based
payments.
Lindex Group
has long-term
incentive schemes,
which can be
settled in
company shares.
These contingently
issuable shares
are issuable
when certain
pre-
defined conditions
in the incentive
programmes
are met during
a timeframe
set in the
incentive
programmes\u2019
conditions.
If the settlement
happened at
the reporting
date, it
would result
in issuing
577.692 (747.162)
shares.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_115": { "value": "
Group companies
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31.12.2025
Shareholding %
Voting rights %
Parent company holdings
Stockmann AS, Tallinn
100.0
100.0
SIA Stockmann, Riga
100.0
100.0
Stockmann Security Services Oy Ab, Helsinki
100.0
100.0
Lindex Holding AB, Stockholm
100.0
100.0
Subsidiaries' holdings
TOV Stockmann, Kiev *)
100.0
100.0
AB Lindex, Gothenburg
100.0
100.0
Lindex Sverige AB, Gothenburg
100.0
100.0
Lindex AS, Oslo
100.0
100.0
Lindex Denmark Aps, Copenhagen
100.0
100.0
Lindex Oy, Helsinki
100.0
100.0
O\u00fc Lindex Eesti, Tallinn
100.0
100.0
SIA Lindex Latvia, Riga
100.0
100.0
UAB Lindex Lithuania, Vilnius
100.0
100.0
Lindex s.r.o., Prague
100.0
100.0
AB Espevik, Gothenburg *)
100.0
100.0
Lindex H.K. Ltd, Hong Kong
100.0
100.0
Shanghai Lindex Consulting Company Ltd, Shanghai
100.0
100.0
Lindex India Private Ltd, New Delhi
100.0
100.0
Lindex Slovakia s.r.o., Bratislava
100.0
100.0
Lindex UK Fashion Ltd, London
100.0
100.0
Lindex Commercial (Shanghai) Co.Ltd., Shanghai
100.0
100.0
Lindex Fastighets AB, Gothenburg
100.0
100.0
*) dormant companies
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Unconsolidated
structured
entities
There were
no unconsolidated
structured
entities in
Lindex Group.
Consolidated
structured
entities
In 2022, Lindex
Group plc announced
plans to invest
in a highly
automated omnichannel
distribution
centre located
in Alings\u00e5s,
part of the
greater Gothenburg
area in Sweden.
The distribution
centre was
officially
launched in
November 2024,
full operational
capacity
is expected
to be achieved
during the
first half
of 2026.
Lindex has
entered into
several agreements
regarding B\u00e4linge
Logistikfastighet
AB,
covering among
other things,
the financing
of the land
acquisition
and the construction
of
the building.
Based on the
contractual
terms the
Group assessed
that the voting
rights in
B\u00e4linge Logistikfastighet
AB are not
the dominant
factor in deciding
who controls
the
entity.
Therefore,
the Group
concluded that
B\u00e4linge Logistikfastighet
AB is a structured
entity
under IFRS
10 Consolidated
Financial
Statements
with a non-controlling
interest.
Disposals
In 2025 and
2024 there
were no disposals
in the group.
New companies
In 2025 Lindex
established
a new company
in Denmark.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_116": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
31.12.2025
Shareholding %
Voting rights %
Parent company holdings
Stockmann AS, Tallinn
100.0
100.0
SIA Stockmann, Riga
100.0
100.0
Stockmann Security Services Oy Ab, Helsinki
100.0
100.0
Lindex Holding AB, Stockholm
100.0
100.0
Subsidiaries' holdings
TOV Stockmann, Kiev *)
100.0
100.0
AB Lindex, Gothenburg
100.0
100.0
Lindex Sverige AB, Gothenburg
100.0
100.0
Lindex AS, Oslo
100.0
100.0
Lindex Denmark Aps, Copenhagen
100.0
100.0
Lindex Oy, Helsinki
100.0
100.0
O\u00fc Lindex Eesti, Tallinn
100.0
100.0
SIA Lindex Latvia, Riga
100.0
100.0
UAB Lindex Lithuania, Vilnius
100.0
100.0
Lindex s.r.o., Prague
100.0
100.0
AB Espevik, Gothenburg *)
100.0
100.0
Lindex H.K. Ltd, Hong Kong
100.0
100.0
Shanghai Lindex Consulting Company Ltd, Shanghai
100.0
100.0
Lindex India Private Ltd, New Delhi
100.0
100.0
Lindex Slovakia s.r.o., Bratislava
100.0
100.0
Lindex UK Fashion Ltd, London
100.0
100.0
Lindex Commercial (Shanghai) Co.Ltd., Shanghai
100.0
100.0
Lindex Fastighets AB, Gothenburg
100.0
100.0
*) dormant companies
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Unconsolidated
structured
entities
There were
no unconsolidated
structured
entities in
Lindex Group.
Consolidated
structured
entities
In 2022, Lindex
Group plc announced
plans to invest
in a highly
automated omnichannel
distribution
centre located
in Alings\u00e5s,
part of the
greater Gothenburg
area in Sweden.
The distribution
centre was
officially
launched in
November 2024,
full operational
capacity
is expected
to be achieved
during the
first half
of 2026.
Lindex has
entered into
several agreements
regarding B\u00e4linge
Logistikfastighet
AB,
covering among
other things,
the financing
of the land
acquisition
and the construction
of
the building.
Based on the
contractual
terms the
Group assessed
that the voting
rights in
B\u00e4linge Logistikfastighet
AB are not
the dominant
factor in deciding
who controls
the
entity.
Therefore,
the Group
concluded that
B\u00e4linge Logistikfastighet
AB is a structured
entity
under IFRS
10 Consolidated
Financial
Statements
with a non-controlling
interest.
Disposals
In 2025 and
2024 there
were no disposals
in the group.
New companies
In 2025 Lindex
established
a new company
in Denmark.
Joint arrangements
Joint operations
Lindex Group
holds a 37.8%
interest in
Kiinteist\u00f6
Oy Tapiolan
S\u00e4\u00e4st\u00f6tammi
Fastighets
Ab, a real
estate company
based in
Espoo, Finland.
The Group
recognises
its share of
the joint operation
in the statement
of financial
position as
investment
property (see
Note
3.4 for further
details).
Lindex Group
does not recognise
the income
and expenses
of the
joint operation,
as it is not
material the
Group.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Assets and liabilities of joint operations
EUR mill.
2025
2024
Non-current assets
1.3
1.3
Current assets
0.4
0.4
Current liabilities
0.0
0.0
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Income and expenses of joint operations
EUR mill.
2025
2024
Income
0.1
0.0
Expenses
-0.1
-0.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_117": { "value": "
Joint arrangements
Joint operations
Lindex Group
holds a 37.8%
interest in
Kiinteist\u00f6
Oy Tapiolan
S\u00e4\u00e4st\u00f6tammi
Fastighets
Ab, a real
estate company
based in
Espoo, Finland.
The Group
recognises
its share of
the joint operation
in the statement
of financial
position as
investment
property (see
Note
3.4 for further
details).
Lindex Group
does not recognise
the income
and expenses
of the
joint operation,
as it is not
material the
Group.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Assets and liabilities of joint operations
EUR mill.
2025
2024
Non-current assets
1.3
1.3
Current assets
0.4
0.4
Current liabilities
0.0
0.0
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Income and expenses of joint operations
EUR mill.
2025
2024
Income
0.1
0.0
Expenses
-0.1
-0.1
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInJointArrangementsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_118": { "value": "
Provisions
Accounting
policies
A provision
is recognised
when the Group
has a legal
or constructive
obligation
as a
result of
a past event
,
it is probable
that an outflow
of resources
will be required
to settle
the obligation, and the amount can be estimated reliably.
A provision
for an onerous
contract
is recognised
when the unavoidable
costs of meeting
the obligations
under the contract
exceed the
expected economic
benefits.
A restructuring
provision
is recognised
when the Group
is committed
to plan involving
the
sale or termination
of a significant
line of business
or the closure
of operations
in a
geographical
area.
Provision
amounts are
reviewed at
each reporting
date and adjusted
to reflect
the current
management
estimates.
Changes in provisions
are recognised
in the income
statement in
the same line
item in which
the provision
was originally
recorded.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Current provisions
Other provisions
EUR mill.
2025
2024
Carrying amount 1.1.
15.9
18.0
Used provisions
-10.5
-2.1
Reversal of unused provisions
-5.4
-0.0
Carrying amount 31.12.
15.9
Current provisions total
15.9
In 2024, provision related to landlords' claims
arising from terminated lease agreements and
amounted to EUR 15.9 million.
Contingent liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Collaterals given for own liabilities
EUR mill.
2025
2024
Rental guarantees
8.9
10.1
Total
8.9
10.1
Contingent liabilities
EUR mill.
2025
2024
Pledged subsidiary shares *)
303.4
303.4
Pledged loan receivables **)
376.0
398.5
Guarantees
0.1
0.1
Electricity commitments
0.0
0.5
Total
679.5
702.5
*) Book value of subsidiary shares
**) Book value of subsidiary loan receivables
Electricity commitments relate to agreements to buy
electricity for certain prices in the years 2026\u2013
2028.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Lease commitments
Lease agreements on the Group's business premises
EUR mill.
2025
2024
Within one year
5.8
6.1
After one year
19.2
12.4
Total
25.1
18.5
Group's lease payments
EUR mill.
2025
2024
Within one year
0.1
0.1
After one year
0.1
0.2
Total
0.1
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_119": { "value": "
Provisions
Accounting
policies
A provision
is recognised
when the Group
has a legal
or constructive
obligation
as a
result of
a past event
,
it is probable
that an outflow
of resources
will be required
to settle
the obligation, and the amount can be estimated reliably.
A provision
for an onerous
contract
is recognised
when the unavoidable
costs of meeting
the obligations
under the contract
exceed the
expected economic
benefits.
A restructuring
provision
is recognised
when the Group
is committed
to plan involving
the
sale or termination
of a significant
line of business
or the closure
of operations
in a
geographical
area.
Provision
amounts are
reviewed at
each reporting
date and adjusted
to reflect
the current
management
estimates.
Changes in provisions
are recognised
in the income
statement in
the same line
item in which
the provision
was originally
recorded.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_120": { "value": "
Provisions
Accounting
policies
A provision
is recognised
when the Group
has a legal
or constructive
obligation
as a
result of
a past event
,
it is probable
that an outflow
of resources
will be required
to settle
the obligation, and the amount can be estimated reliably.
A provision
for an onerous
contract
is recognised
when the unavoidable
costs of meeting
the obligations
under the contract
exceed the
expected economic
benefits.
A restructuring
provision
is recognised
when the Group
is committed
to plan involving
the
sale or termination
of a significant
line of business
or the closure
of operations
in a
geographical
area.
Provision
amounts are
reviewed at
each reporting
date and adjusted
to reflect
the current
management
estimates.
Changes in provisions
are recognised
in the income
statement in
the same line
item in which
the provision
was originally
recorded.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Current provisions
Other provisions
EUR mill.
2025
2024
Carrying amount 1.1.
15.9
18.0
Used provisions
-10.5
-2.1
Reversal of unused provisions
-5.4
-0.0
Carrying amount 31.12.
15.9
Current provisions total
15.9
In 2024, provision related to landlords' claims
arising from terminated lease agreements and
amounted to EUR 15.9 million.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_121": { "value": "
Contingent liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Collaterals given for own liabilities
EUR mill.
2025
2024
Rental guarantees
8.9
10.1
Total
8.9
10.1
Contingent liabilities
EUR mill.
2025
2024
Pledged subsidiary shares *)
303.4
303.4
Pledged loan receivables **)
376.0
398.5
Guarantees
0.1
0.1
Electricity commitments
0.0
0.5
Total
679.5
702.5
*) Book value of subsidiary shares
**) Book value of subsidiary loan receivables
Electricity commitments relate to agreements to buy
electricity for certain prices in the years 2026\u2013
2028.
", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_122": { "value": "
Contingent liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Collaterals given for own liabilities
EUR mill.
2025
2024
Rental guarantees
8.9
10.1
Total
8.9
10.1
Contingent liabilities
EUR mill.
2025
2024
Pledged subsidiary shares *)
303.4
303.4
Pledged loan receivables **)
376.0
398.5
Guarantees
0.1
0.1
Electricity commitments
0.0
0.5
Total
679.5
702.5
*) Book value of subsidiary shares
**) Book value of subsidiary loan receivables
Electricity commitments relate to agreements to buy
electricity for certain prices in the years 2026\u2013
2028.
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Lease commitments
Lease agreements on the Group's business premises
EUR mill.
2025
2024
Within one year
5.8
6.1
After one year
19.2
12.4
Total
25.1
18.5
Group's lease payments
EUR mill.
2025
2024
Within one year
0.1
0.1
After one year
0.1
0.2
Total
0.1
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_123": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Collaterals given for own liabilities
EUR mill.
2025
2024
Rental guarantees
8.9
10.1
Total
8.9
10.1
Contingent liabilities
EUR mill.
2025
2024
Pledged subsidiary shares *)
303.4
303.4
Pledged loan receivables **)
376.0
398.5
Guarantees
0.1
0.1
Electricity commitments
0.0
0.5
Total
679.5
702.5
*) Book value of subsidiary shares
**) Book value of subsidiary loan receivables
Electricity commitments relate to agreements to buy
electricity for certain prices in the years 2026\u2013
2028.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCollateralExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_124": { "value": "
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Lease commitments
Lease agreements on the Group's business premises
EUR mill.
2025
2024
Within one year
5.8
6.1
After one year
19.2
12.4
Total
25.1
18.5
Group's lease payments
EUR mill.
2025
2024
Within one year
0.1
0.1
After one year
0.1
0.2
Total
0.1
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_125": { "value": "
Management remuneration
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Remuneration of the Group Management Team 2025
EUR
CEO
Other Group
Management Team
members
Total
Short-term employee benefits
545,752
1,079,416
1,625,168
Post-employment benefits
Other long-term employee
benefits
171,353
116,534
287,887
Share-based payments
71,862
331,317
403,179
Total
788,967
1,527,267
2,316,234
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Remuneration of the Board of Directors 2025
EUR
Annual
remuneration
Remuneration for
meetings
Total
Pohjonen Sari
90,000
28,200
118,200
Neuwald Roland
65,000
16,200
81,200
Bj\u00f6rkman Stefan
42,500
16,800
59,300
Collesei Andrea
31,875
10,800
42,675
Karppinen Timo
52,500
17,400
69,900
Stone Tracy
42,500
15,000
57,500
Williams Harriet
42,500
15,000
57,500
Total
366,875
119,400
486,275
Remuneration of key persons
total
2,802,509
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Remuneration of the Group Management Team 2024
EUR
CEO
Other Group
Management Team
members
Total
Short-term employee benefits
485,770
1,028,611
1,514,381
Other long-term employee
benefits
278,157
123,162
401,319
Share-based payments
216,766
-105,180
111,586
Total
980,692
1,046,594
2,027,286
Remuneration of the Board of Directors 2024
EUR
Annual
remuneration
Remuneration for
meetings
Total
Pohjonen Sari
90,000
33,600
123,600
Neuwald Roland
65,000
19,800
84,800
Bj\u00f6rkman Stefan
42,500
15,000
57,500
Karppinen Timo
52,500
21,000
73,500
Stone Tracy
42,500
19,800
62,300
Williams Harriet
42,500
15,000
57,500
Total
335,000
124,200
459,200
Remuneration of key persons
total
2,486,486
Remuneration
of the CEO
CEO Susanne
Ehnb\u00e5ge\u2019s
remuneration
consists of
a fixed monetary
salary,
fringe
benefits,
and short-
and long-term
incentive schemes.
In addition,
Susanne Ehnb\u00e5ge
has
a supplementary
pension arrangement
as well as
potential retention
and severance
benefits.
Management's
pension commitments
CEO Susanne
Ehnb\u00e5ge is
eligible to
retire upon
reaching the
age of 65 years.
The
pension accrue
s
under an individual
pension scheme
in accordance
with local
practice in
Sweden.
In 2025, Susanne
Ehnb\u00e5ge\u2019s
pension scheme
was based
on a defined
contribution
system, partly
under the
local ITP1
plan and partly
through an
additional
pension provision
equal to 30
% of income
exceeding the
ITP1 income
cap.
The retirement age for other Group Management Team members is 65 years
or individual
based on
the statutory
retirement
age.
The total cost
for the defined
occupational
contribution
pension insurance
taken by the
company for the Group Management Team was EUR 287,887
(401,319).
Management\u2019s
share-based
incentives
Information
on the management\u2019s
share-based
incentive plan
is disclosed
in Note 5.6.
Related parties
The Group\u2019s
related parties
include its
management
(the Board
of Directors,
CEO and the
Group Management
Team)
,
companies controlled
by them, their
close family
members
and companies
controlled
by those family
members, as
well as Lindex
Group\u2019s
subsidiaries
and joint
operations.
The relationships
between the
parent company
and its
subsidiaries
are presented
in Note 5.1.
Related party transactions
Except for
compensation
for the key
management
personnel
(Note 5.5),
there were
no
material
transactions
between Lindex
Group and
its related
parties during
the reporting
period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_126": { "value": "
Management remuneration
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Remuneration of the Group Management Team 2025
EUR
CEO
Other Group
Management Team
members
Total
Short-term employee benefits
545,752
1,079,416
1,625,168
Post-employment benefits
Other long-term employee
benefits
171,353
116,534
287,887
Share-based payments
71,862
331,317
403,179
Total
788,967
1,527,267
2,316,234
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Remuneration of the Board of Directors 2025
EUR
Annual
remuneration
Remuneration for
meetings
Total
Pohjonen Sari
90,000
28,200
118,200
Neuwald Roland
65,000
16,200
81,200
Bj\u00f6rkman Stefan
42,500
16,800
59,300
Collesei Andrea
31,875
10,800
42,675
Karppinen Timo
52,500
17,400
69,900
Stone Tracy
42,500
15,000
57,500
Williams Harriet
42,500
15,000
57,500
Total
366,875
119,400
486,275
Remuneration of key persons
total
2,802,509
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
Remuneration of the Group Management Team 2024
EUR
CEO
Other Group
Management Team
members
Total
Short-term employee benefits
485,770
1,028,611
1,514,381
Other long-term employee
benefits
278,157
123,162
401,319
Share-based payments
216,766
-105,180
111,586
Total
980,692
1,046,594
2,027,286
Remuneration of the Board of Directors 2024
EUR
Annual
remuneration
Remuneration for
meetings
Total
Pohjonen Sari
90,000
33,600
123,600
Neuwald Roland
65,000
19,800
84,800
Bj\u00f6rkman Stefan
42,500
15,000
57,500
Karppinen Timo
52,500
21,000
73,500
Stone Tracy
42,500
19,800
62,300
Williams Harriet
42,500
15,000
57,500
Total
335,000
124,200
459,200
Remuneration of key persons
total
2,486,486
Remuneration
of the CEO
CEO Susanne
Ehnb\u00e5ge\u2019s
remuneration
consists of
a fixed monetary
salary,
fringe
benefits,
and short-
and long-term
incentive schemes.
In addition,
Susanne Ehnb\u00e5ge
has
a supplementary
pension arrangement
as well as
potential retention
and severance
benefits.
Management's
pension commitments
CEO Susanne
Ehnb\u00e5ge is
eligible to
retire upon
reaching the
age of 65 years.
The
pension accrue
s
under an individual
pension scheme
in accordance
with local
practice in
Sweden.
In 2025, Susanne
Ehnb\u00e5ge\u2019s
pension scheme
was based
on a defined
contribution
system, partly
under the
local ITP1
plan and partly
through an
additional
pension provision
equal to 30
% of income
exceeding the
ITP1 income
cap.
The retirement age for other Group Management Team members is 65 years
or individual
based on
the statutory
retirement
age.
The total cost
for the defined
occupational
contribution
pension insurance
taken by the
company for the Group Management Team was EUR 287,887
(401,319).
Management\u2019s
share-based
incentives
Information
on the management\u2019s
share-based
incentive plan
is disclosed
in Note 5.6.
Related parties
The Group\u2019s
related parties
include its
management
(the Board
of Directors,
CEO and the
Group Management
Team)
,
companies controlled
by them, their
close family
members
and companies
controlled
by those family
members, as
well as Lindex
Group\u2019s
subsidiaries
and joint
operations.
The relationships
between the
parent company
and its
subsidiaries
are presented
in Note 5.1.
Related party transactions
Except for
compensation
for the key
management
personnel
(Note 5.5),
there were
no
material
transactions
between Lindex
Group and
its related
parties during
the reporting
period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_127": { "value": "
Share-based incentives
Accounting
policies
Lindex Group
offers performance
shares as
a long-term equity
-settled share
-based
incentive
plan for key
employees.
Employee services
received and
the corresponding
increase in
equity are
measured at
the fair value
of the equity
instruments
granted, determined
at the grant
date. The
fair
value measurement
excludes the
impact of any
non-market vesting
conditions.
Non-
market vesting
conditions
attached to
the performance
shares are
included in
assumptions
about the number
of shares that
employees are
ultimately expected
to
receive.
The Group
reviews these
assumptions
regularly and
revises its
estimates of
the number
of performance shares expected to vest as necessary.
Share-based
compensation
is recognised
as an expense
in the consolidated
income
statement
on a straight
-line basis
over the vesting
and commitment
period of the
plan,
with a corresponding increase in equity.
Social security
expenses related
to the share
-based compensation
are recognised
as an
expense in
the consolidated
income statement
over the vesting
and commitment
period,
based on
the actual
share price
at the end
of the reporting
period. The
corresponding
amount is
recorded as
a liability
in the consolidated
statement of
financial
position.
Share-based
incentive plan
as of 1 January
2022
During the
financial year
2022 Lindex
Group plc's
Board of Directors
decided on
the
establishment
of a share-based
long-term incentive
scheme for
the company's
management
and key personnel.
The Performance
Share Plan
(PSP) consists
of three
individual
performance
periods. The
Board of Directors
decides separately
on the
performance
criteria,
the number
of people
authorised
to participate
and the amount
of
the threshold,
target and maximum
reward for each
performance
period. The
objective
of
the Performance
Share Plan is
to support the
implementation
of the Company's
strategy,
to align the
interests
of the key
personnel
with those
of the Company's
shareholders
and
to retain
management
and key personnel.
The Board
of Director's
approved
the commencement
of the first
performance
period
(PSP 2022-2024)
and decided
on the performance
criteria in
2022. The performance
criteria include
total shareholder
return, revenue,
EBIT and climate
target.
In 2025,
rewards from
the first performance
period were
paid, comprising
112,324
shares granted
and a cash
component
to cover withholding
tax obligations
.
The total value
of these
amounted
to EUR 0.6
million.
The Board
of Director's
approved
the commencement
of the second
performance
period
(PSP 2023-2025)
and decided
on the performance
criteria in
January 2023.
The
performance
criteria include
total shareholder
return, revenue,
EBIT and climate
target.
The potential
reward will
be paid during
H1 2026, depending
on the achievement
of the
performance
criteria and
the service
condition.
Any reward earned
for the PSP
2023-2025
will be paid partly in company shares and partly in cash. The purpose of the cash
contribution
is to cover
taxes and tax
-like payments
incurred by
the management
and key
personnel
from the remuneration.
The Board
of Director's
approved
the commencement
of the third
performance
period
(PSP 2024-2026)
and decided
on the performance
criteria in
February 2024.
The
performance
criteria include
total shareholder
return, revenue,
EBIT and climate
target.
The potential
reward will
be paid during
H1 2027, depending
on the achievement
of the
performance
criteria and
the service
condition.
Any reward earned
for the PSP
2024-2026
will be paid partly in company shares and partly in cash. The purpose of the cash
contribution
is to cover
taxes and tax
-like payments
incurred by
the management
and key
personnel
from the remuneration.
Share-based
incentive plan
as of 1 January
2025
In March 2025
the Board of
Directors decided
on the establishment
of a new share
-based
long-term incentive
scheme targeted
to the key management
of the company
and its
divisions.
The incentive
scheme consists
of a Performance
Share Plan
(PSP),
with
annually commencing
individual
plans, each
with a three
-year performance
period,
followed by
the payment
of the potentially
earned reward
.
The commencement
of each
individual
plan is subject
to a separate
Board approval
in each case.
The objectives
of
the Performance Share Plan are to support the implementation of the company\u2019s strategy,
to align the
interests
of the management
with those
of the company\u2019s
shareholders
and
the retention
of the management.
The Board
of Director's
approved
the commencement
of the first
plan within
the PSP
structure
(PSP 2025-2027)
and decided
on the performance
criteria in
March 2025.
The
performance
criteria include
the total shareholder
return of the
company's share
and
revenue, EBIT
and ESG targets.
Any reward
for the PSP
2025-2027 will
be paid partly
in
company shares
and partly
in cash. The
purpose of
the cash contribution
is to cover
taxes
and tax-like
payments incurred
by the management
and key personnel
from the
remuneration.
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Performance plan
2025
2022
Performance period
2025-2027
2024-2026
2023-2025
2022-2024
Initial amount, pcs *)
1,400,000
1,430,500
2,000,000
2,000,000
Initial allocation date
14.3.2025
18.3.2024
6.7.2023
23.11.2022
Vesting date
30.4.2028
30.4.2027
30.4.2026
2.5.2025
Maximum contractual life, years
3.1
3.1
2.8
2.4
Remaining contractual life, years
2.3
1.3
0.3
Number of participants in the plan
13
12
9
10
Payment method
Equity and
cash, net
settlement
Equity and
cash, net
settlement
Equity and
cash, net
settlement
Equity and
cash, net
settlement
*) The amounts are presented in gross terms,
i.e. the share reward figures both the reward paid
in
share and a number of shares corresponding to
the amount of the reward paid in cash.
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Changes in share awards during the financial year
Performance plan
2025
2022
Total
Performance period
2025-2027
2024-2026
2023-2025
2022-2024
Outstanding number of shares 1.1.
1,080,200
798,000
791,000
2,669,200
Granted during the year
1,005,000
1,005,000
Forfeited during the year
214,000
197,000
678,676
1,089,676
Exercised during the year
112,324
112,324
Outstanding number of shares
31.12.
1,005,000
866,200
601,000
2,472,200
Fair value
determination
The fair value
of share-based
incentives
has
been determined
at the grant
date and the
fair value
is expensed
until vesting.
Market condition,
in this case
total shareholder
return
has been
taken into
account when
determining
the fair value
at grant and
it will not
be
changed during
the plan. The
pricing of
the share-based
incentives
granted during
the
period was
determined
by the following
inputs and
had the following
effect:
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Valuation parameters for instruments granted during period
2025
Performance period 2025-
2027
Share price at grant, EUR
3.02
Share price at the end of the period, EUR
2.47
Expected volatility, % *)
35.01%
Maturity, years
2.8
Risk-free interest rate, %
2.32%
Valuation model
Monte Carlo
Fair value per share, EUR
1.49
*) Expected volatility was determined by calculating
the historical volatility of Lindex Group plc's
share using monthly observations over corresponding
maturity.
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Effect of share-based Incentives on the result and
financial position
EUR mill.
2025
2024
Expenses for the financial year, share-based payments
0.6
0.4
Expenses for the financial year, share-based payments, equity-settled
0.6
0.3
Liabilities arising from share-based payments 31.12.
0.1
0.3
Estimated future cash payment related to withholding
taxes
0.5
0.9
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_128": { "value": "
Share-based incentives
Accounting
policies
Lindex Group
offers performance
shares as
a long-term equity
-settled share
-based
incentive
plan for key
employees.
Employee services
received and
the corresponding
increase in
equity are
measured at
the fair value
of the equity
instruments
granted, determined
at the grant
date. The
fair
value measurement
excludes the
impact of any
non-market vesting
conditions.
Non-
market vesting
conditions
attached to
the performance
shares are
included in
assumptions
about the number
of shares that
employees are
ultimately expected
to
receive.
The Group
reviews these
assumptions
regularly and
revises its
estimates of
the number
of performance shares expected to vest as necessary.
Share-based
compensation
is recognised
as an expense
in the consolidated
income
statement
on a straight
-line basis
over the vesting
and commitment
period of the
plan,
with a corresponding increase in equity.
Social security
expenses related
to the share
-based compensation
are recognised
as an
expense in
the consolidated
income statement
over the vesting
and commitment
period,
based on
the actual
share price
at the end
of the reporting
period. The
corresponding
amount is
recorded as
a liability
in the consolidated
statement of
financial
position.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ID_129": { "value": "
Events after the reporting period
On 5 February
2026, Lindex
Group plc
has signed
a EUR 50 million
secured revolving
credit facility
agreement.
The revolving
credit facility
may be used
for general
corporate
and working
capital purposes
and includes
customary
financial covenants.
The revolving
credit facility
matures in
May 2027,
subject to
a 15-month extension
option.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "fi", "entity": "scheme:743700IFQI6W89M1IY95", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }