Key figures

Continuing operations


2017

Restated
2016

Revenue, EUR mill.

1 055.9

1 175.7

Gross margin, %

55.8

55.7

EBITDA, EUR mill.

67.6

85.6

Adjusted EBITDA, EUR mill.

73.2

88.2

Operating result (EBIT), EUR mill.

-148.4

28.3

Adjusted operating result (EBIT), EUR mill.

12.3

30.9

Net financial items, EUR mill.*

-31.1

-23.1

Result before tax, EUR mill.

-179.5

5.2

Result for the period, EUR mill.

-198.1

-7.5

Earnings per share,
undiluted and diluted, EUR

-2.82

-0.18

Personnel, average

7 360

8 164

 

 

 

Continuing and discontinued operations**

2017

2016

Net earnings per share,
undiluted and diluted, EUR

-2.98

-0.12

Cash flow from operating activities, EUR mill.

25.9

41.5

Capital expenditure, EUR mill.

34.7

44.2

Equity per share, EUR

12.29

14.99

Net gearing, %

83.8

68.3

Equity ratio, %

43.0

48.3

Number of shares, undiluted and diluted, weighted average, 1 000 pc

72 049

72 049

Return on capital employed, rolling 12 months, %

-9.1

1.8

* In 2017 includes in 2017 a write-off of EUR 3.8 million related to Stockmann’s investment in Tuko Logistics Cooperative (Q2 2017), EUR 2.0 million related to Seppälä (Q3 2017), EUR 1.5 million related to Hobby Hall (Q4 2017) and in 2016, a write-off of EUR 5.0 million related to Seppälä (Q4 2016).
** Discontinued operations include department store operations in Russia (Q1 2016), and Stockmann Delicatessen food operations in Finland (Q1 2016-Q4 2017).

Stockmann uses Alternative Performance Measures according to the guidelines of the European Securities and Market Authority (ESMA) to better reflect the operational business performance and to facilitate comparisons between financial periods. Gross profit is calculated by deducting the costs of goods sold from the revenue, and gross margin is calculated by dividing gross profit by the revenue as a percentage. EBITDA is calculated from the operating result excluding depreciation, amortisation and impairment losses. Adjusted EBITDA and adjusted operating result (EBIT) are measures which exclude non-recurring items and other adjustments affecting comparability from the reported EBITDA and reported operating result (EBIT). Stockmann also uses the term “revenue in comparable businesses” which refers to revenue excluding Hobby Hall, which was divested on 31 December 2016, the Oulu department store, which was closed on 31 January 2017, and the Lindex stores in Russia, which were closed in 2016. See further information in the notes to the Financial Statements.