Finland · Delayed Price · Currency is EUR Marimekko Oyj Earnings Call Transcripts
Fiscal Year 2025
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Q4 and full-year 2025 saw modest sales growth, with strong international and Asia Pacific performance offsetting a challenging Finnish market. Operating profit margins remained robust, and investments in digital and store expansion continue, with 2026 guidance projecting further growth.
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Q3 net sales rose 8% year-over-year, with strong wholesale growth in Finland and Asia-Pacific. Operating profit improved, but higher costs and lower licensing income are expected to impact 2025. International expansion continues, highlighted by new flagship stores in Paris and Hong Kong.
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Q2 net sales grew 2% to EUR 44.5 million, with strong retail and international performance, while operating profit improved despite higher costs. Outlook for 2025 is positive, with growth expected in net sales and margins, and continued expansion in Asia.
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Net sales grew 5% year-over-year, with strong international and retail performance offsetting lower licensing income and Finnish wholesale. Operating profit margin was 11.1%. Outlook for 2025 is positive, with growth expected in international markets and continued investment in brand and store expansion.
Fiscal Year 2024
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Record Q4 and full-year sales growth driven by strong retail and international performance, with profitability supported by increased licensing income and omnichannel expansion. 2025 guidance anticipates further sales growth, higher costs, and continued international expansion, especially in Asia.
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Q3 net sales were nearly flat year-over-year at EUR 47.2 million, with strong retail growth offsetting lower wholesale in Finland. Operating profit margin remained high, and international and Asia-Pacific sales grew. 2024 guidance expects net sales growth and a 16%-19% operating margin.
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The SCALE strategy continues to drive international growth, with Asia-Pacific as the main engine, supported by strong brand positioning, product innovation, and digitalization. Updated financial targets reflect higher ambition, and the low-risk franchise model in Asia enables scalable expansion. Execution remains on track, with no major changes to the strategy.
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Net sales grew 8% in Q2 2024, driven by strong wholesale and retail growth in Finland and Asia-Pacific, with operating profit margins remaining solid despite higher fixed costs and lower licensing income. The outlook for 2024 is positive, with continued international expansion and increased marketing investments.