Lexington company coming to First North

Home textiles maker The Lexington Company AB (STO:LEX) will be listed in First North Stockholm from February 18th 2015. Its sales have grown steadily since the inception. Average compound annual sales growth rate from 2008 to 2013 was a hair under 14%. This resulted in sales of 234 million SEK for the fiscal year 2013. Gross margin has remained above 50% for the entire time with 2013 number printing 64,8%. EBIT growth has been less stellar but company has constantly been in the black with an 11 million SEK result for 2013. The company's equity was at 59 million and assets at 119 million in the end of 2013.

In the first 9 months of 2014, sales were about 184 million SEK and EBIT just a touch under 13 million SEK. Profit for the period came in a 7.9 million SEK. Financial goals are an annual sales growth or at least 10%, EBITDA at 10% or more and an equity ratio above 40%. The company carries very little debt at the moment. Presuming successful listing and offering, in total the company will have 4 890 000 shares when it is being listed. Kristina and Tommy Lindhe will control a bit less than 2 million shares or 39.2%. Investor Staffan Persson has just under a third of shares at 1.5 million plus. The subscription price in the IPO is 40 SEK per share. This values the company at 195.6 million SEK

Lexington Company was founded in 1997. First own store started in 2007 in Stockholm. Nowadays the company has nearly 900 dealers in Europe, Asia and the United States. Its multi-channel approach includes own stores, franchise stores, independent retailers and custom web commerce. Apparel products for women and men are also on the offing. The premium segment products draw inspiration from New England, USA, as the company name would suggest.

In addition to the founder Christina and Tommy Lindhe, strong women are at the helm with the an the remainder of the executive team being all female. Together with the Board they visualize the company as a leading international lifestyle brand that will expand strongly into new areas and also in existing markets. By end of September 2014 the company had 97 employees, of which 83 were women. Most of the production is done in Europe to keep better taps of the entire value chain to maintain production ethics and prime materials.