ADVANCE INFORMATION ABOUT MARIMEKKO’S 2017 EARNINGS – COMPARABLE OPERATING PROFIT GREW BY 41 PERCENT AND NET SALES BY 3 PERCENT
Marimekko Corporation, Stock Exchange Release, 16 January 2018 at 9.00 a.m.
ADVANCE INFORMATION ABOUT MARIMEKKO’S 2017 EARNINGS – COMPARABLE OPERATING PROFIT GREW BY 41 PERCENT AND NET SALES BY 3 PERCENT
According to preliminary financial results, the Marimekko Group’s net sales in 2017 were about EUR 102.3 million (2016: 99.6); operating profit was approximately EUR 8.4 million (5.2) and comparable operating profit was around EUR 8.6 million (6.1). The figures are unaudited.
In its half-year financial report published on 10 August 2017, Marimekko estimated that the Group's net sales and comparable operating profit for 2017 would be at the same level as in the previous year. On 27 October 2017, the company announced in a stock exchange release that it had revised its estimate of comparable operating profit for 2017. Comparable operating profit was forecast to be at the same level as or higher than in the previous year. Net sales estimate remained unchanged. The release also stated that the share of holiday sales, in particular, of sales for the last quarter is considerable and that the outcome of the holiday season has a significant impact on results for the whole year. In its interim report published on 2 November 2017, the company reiterated the revised estimate, which in its entirety was as follows: the Marimekko Group’s net sales for 2017 are estimated to be at the same level as in the previous year and comparable operating profit is expected to be at the same level as or higher than in the previous year.
According to preliminary financial results, comparable operating profit for 2017 grew by 41 percent and net sales by 3 percent on the previous year. Operating profit was improved by better-than-expected holiday sales which boosted retail and wholesale sales in Finland. Increased operational efficiency and lower-than-expected costs also had a positive impact on results.
Marimekko Corporation’s financial statements bulletin for 2017, including the company’s assessment of the outlook for 2018, will be published on Thursday, 15 February 2018 at 8.30 a.m. as announced earlier.
MARIMEKKO CORPORATION
Corporate Communications
Piia Kumpulainen
Tel. +358 9 758 7293
piia.kumpulainen@marimekko.com
DISTRIBUTION:
Nasdaq Helsinki Ltd
Key media
Marimekko is a Finnish design company renowned for its original prints and colours. The company’s product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2016, brand sales of the products worldwide amounted to EUR 199 million and the company's net sales were close to EUR 100 million. Roughly 160 Marimekko stores serve customers around the globe. The key markets are Northern Europe, North America and the Asia-Pacific region. The Group employs about 400 people. The company’s share is quoted on Nasdaq Helsinki Ltd. www.marimekko.com
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