Business continuity, risks and uncertainties
Stockmann Group’s Half-year Financial Report Q2/2023, published on 21 July 2023
Risks may be due to events in the outside world and affect a certain sector or market, or they may be associated with the group’s own business.
There are external risks and uncertainties affecting the Stockmann group that are related to the shift of the industry, competitors, logistics resources, information and cyber security, sustainability issues, weather, macroeconomics and geopolitical events, pandemics, foreign currencies, taxes, consumer duty and various regulations and ordinances. There are also risks in connection with expansion into new markets and with new products. More detailed information concerning the financial risks is given in the Stockmann Group’s annual and sustainability report that is available at Stockmann Group’s website at https://year2022.stockmanngroup.com
The restructuring programme is proceeding according to plan, which means that all Stockmann’s department store properties have been sold and all interest-bearing debt has been paid except for a bond of EUR 71.9 million. There are still disputed claims regarding the termination of lease agreements that must be settled before the restructuring process can end.
The Stockmann Group is preparing for the future by evaluating strategic options for the period after the corporate restructuring.
Risk management in Stockmann Group
The goal of risk management is to secure the Group’s earnings development and to ensure that the company operates without any disturbances by controlling risks in a cost efficient and systematic manner in all divisions.