Brief: Marimekko Q2 Oper Profit Up At EUR 5.5 Mln

Marimekko Oyj

19/08/2021 06:19

Aug 19 (Reuters) - Marimekko Oyj  MEKKO.HE :
    * REG-HALF-YEAR FINANCIAL REPORT OF MARIMEKKO CORPORATION, 1
JANUARY – 30 JUNE 2021: MARIMEKKO’S NET SALES AND RESULT
INCREASED CONSIDERABLY IN THE SECOND QUARTER
    * Q2 NET SALES EUR 32.7 MILLION VERSUS EUR 23.3 MILLION YEAR
AGO
    * Q2 OPERATING PROFIT EUR 5.5 MILLION VERSUS EUR 2.7 MLN
YEAR AGO
    * THERE ARE SIGNIFICANT UNCERTAINTIES ASSOCIATED WITH TREND
IN
COMPANY'S NET SALES AND EARNINGS DUE TO PANDEMIC
    * INSTABILITY CAUSED BY CORONAVIRUS PANDEMIC IN MARIMEKKO'S
MARKETS HAS AGAIN INCREASED CLEARLY.
    * NET SALES FOR 2021 ARE EXPECTED TO BE HIGHER THAN IN
PREVIOUS
YEAR (2020: EUR 123.6 MILLION).
    * COMPARABLE OPERATING PROFIT MARGIN IS ESTIMATED TO BE
APPROXIMATELY ON A PAR WITH OR HIGHER THAN IN 2020
    * SALES IN FINLAND ARE EXPECTED TO GROW ON PREVIOUS YEAR.
    * DOMESTIC WHOLESALE SALES IN 2021 WILL BE BOOSTED BY
NONRECURRING
PROMOTIONAL DELIVERIES
    * AIM IS TO OPEN ABOUT 5 TO 10 NEW MARIMEKKO STORES AND
SHOP-IN-SHOPS IN 2021, AND MOST OF OPENINGS WILL BE IN ASIA.
    * FIXED COSTS ARE EXPECTED TO BE UP ON PREVIOUS YEAR,
ESPECIALLY
DURING SECOND HALF OF YEAR.
    * MARIMEKKO OYJ - MARKETING EXPENSES ARE EXPECTED TO GROW
(2020:
EUR 5.3 MILLION) AND TAKE PLACE ESPECIALLY IN SECOND HALF OF
YEAR

Source text for Eikon:  ID:nGNEc95jPn 
Further company coverage:  MEKKO.HE 

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