Copyright © 2021. Inderes Oyj. All rights reserved.

We expect Lindex's result to fall from the exceptionally high level in recent years and department stores to remain clearly cash flow negative in coming years, resulting in a cash-adjusted P/E of about 12x in 2023-24. We believe this is a neutral level and do not expect significant earnings growth even in the medium term. Lindex's large logistics investment in 2022-23 will reduce the company's net cash and we do not expect dividends for the next few years. 

Show your love by gifting this content to a fellow investor. As a Premium subscriber you can gift Premium-content to a free-user friend. Gift link:

Trade. (Stockmann)