Brief: Marimekko Expects 2019 Comparable Operating Profit Of Up To EUR 15 Mln

Marimekko Oyj

22/07/2019 09:36

July 22 (Reuters) - Marimekko Oyj  MMO1V.HE :
    * REG-MARIMEKKO RAISES ITS EARNINGS ESTIMATE; NET SALES
ESTIMATE
REMAINS UNCHANGED
    * NOW RAISES ITS EARLIER ESTIMATE OF COMPARABLE OPERATING
PROFIT
FOR 2019 AND CHANGES REFERENCE TO LEVEL OF PREVIOUS YEAR
    * ESTIMATED THAT GROUP'S NET SALES FOR 2019 WOULD BE HIGHER
THAN
IN PREVIOUS YEAR AND THAT COMPARABLE OPERATING PROFIT WOULD BE
APPROXIMATELY AT SAME LEVEL AS YEAR BEFORE.
    * NET SALES ESTIMATE GIVEN IN INTERIM REPORT REMAINS
UNCHANGED
    * NET SALES ESTIMATE GIVEN IN INTERIM REPORT REMAINS
UNCHANGED.
    * COMPARABLE OPERATING PROFIT FOR 2019 IS EXPECTED TO BE
HIGHER
THAN IN PREVIOUS YEAR, AMOUNTING AT MOST TO APPROXIMATELY EUR 15
MILLION.
    * ACCORDING TO NEW ESTIMATE, COMPARABLE OPERATING PROFIT FOR
2019
IS EXPECTED TO BE HIGHER THAN IN PREVIOUS YEAR, AMOUNTING AT
MOST TO APPROXIMATELY EUR 15 MILLION
    * DUE TO GROWTH INVESTMENTS, MORE COSTS THAN IN 2018 ARE
EXPECTED
TO OCCUR IN REMAINING HALF OF YEAR.
    * ESTIMATED EFFECTS OF LONG-TERM BONUS SYSTEM TARGETED AT
COMPANY'S MANAGEMENT GROUP ARE ALSO EXPECTED TO EXERT A DRAG ON
COMPANY'S RESULTS IN 2019
    * SAYS SHARE OF HOLIDAY SALES IN PARTICULAR OF COMPANY'S NET
SALES
FOR LAST QUARTER IS CONSIDERABLE AND OUTCOME OF HOLIDAY SEASON
HAS AN IMPACT ON RESULTS FOR WHOLE YEAR
    * SAYS MARIMEKKO HAS BECOME AWARE OF CASES OF GREY EXPORTS
AND HAS
TAKEN DUE ACTION
    * SAYS CONTROL OF CASES MAY HAVE A WEAKENING IMPACT ON
COMPANY'S
SALES AND EARNINGS

Source text for Eikon:  ID:nGNE1SmFh2 
Further company coverage:  MMO1V.HE 

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