Brief: Marimekko Q4 Operating Profit Up At EUR 3.0 Million

Marimekko Oyj

13/02/2020 06:40

Feb 13 (Reuters) - Marimekko Oyj  MMO1V.HE :
    * REG-FINANCIAL STATEMENTS BULLETIN OF MARIMEKKO
CORPORATION, 1
JANUARY–31 DECEMBER 2019: A STRONG YEAR FOR MARIMEKKO – NET
SALES GREW BY 12 PERCENT AND COMPARABLE OPERATING PROFIT
IMPROVED BY 40 PERCENT
    * Q4 NET SALES EUR 34.7 MILLION VERSUS EUR 29.7 MILLION YEAR
AGO
    * Q4 OPERATING PROFIT EUR 3.0 MILLION VERSUS EUR 1.2 MILLION
YEAR
AGO
    * BOARD OF DIRECTORS WILL PROPOSE TO ANNUAL GENERAL MEETING
THAT A
DIVIDEND OF EUR 0.90 PER SHARE BE PAID FOR 2019
    * MARIMEKKO GROUP'S NET SALES FOR 2020 ARE FORECASTED TO BE
HIGHER
THAN IN PREVIOUS YEAR. COMPARABLE OPERATING PROFIT IS ESTIMATED
TO BE APPROXIMATELY AT SAME LEVEL AS OR HIGHER THAN YEAR BEFORE
    * 2020 OUTLOOK: COMPARABLE OPERATING PROFIT IS ESTIMATED TO
BE
APPROXIMATELY AT SAME LEVEL AS OR HIGHER THAN YEAR BEFORE.
    * OUR NET SALES INCREASED IN ALL MARKET AREAS AND COMPARABLE
OPERATING PROFIT IMPROVED SIGNIFICANTLY
    * UNCERTAINTY IN GLOBAL ECONOMY IS FORECAST TO CONTINUE,
PARTLY
BECAUSE OF UNPREDICTABILITY OF POLITICAL SITUATION.
    * ONSUMER DEMAND FORECASTS VARY AMONG MARIMEKKO'S DIFFERENT
MARKET
AREAS
    * AS WE CONTINUE OUR WORK FOR INTERNATIONAL GROWTH, AT SAME
TIME
WE NATURALLY CAREFULLY MONITOR DEVELOPMENT OF EXCEPTIONAL
CIRCUMSTANCES SUCH AS CORONAVIRUS AND UNSTABLE SITUATION IN HONG
KONG.
    * 2020 SALES IN FINLAND ARE EXPECTED TO GROW ON PREVIOUS
YEAR
    * KEY DRIVERS OF COMPANY'S GROWTH ARE E-COMMERCE, INCREASING
SALES
PER SQUARE METRE OF EXISTING STORES IN ALL MARKETS, AND
PARTNER-LED RETAIL IN ASIA
    * DOMESTIC WHOLESALE SALES IN 2020 WILL BE BOOSTED BY
NONRECURRING
PROMOTIONAL DELIVERIES, TOTAL VALUE OF WHICH WILL BE
SUBSTANTIALLY HIGHER THAN LAST YEAR
    * LICENSING INCOME IN 2020 IS ESTIMATED TO BE MARKEDLY LOWER
THAN
IN PREVIOUS YEAR
    * IMPACTS OF CORONAVIRUS, AT MOMENT CONCERNING IN PARTICULAR
ASIA-PACIFIC REGION, ARE STILL UNCERTAIN
    * IN 2020, MARIMEKKO WILL NOTICEABLY HEIGHTEN ITS
INVESTMENTS FROM
BEFORE IN ORDER TO ACHIEVE EVEN STRONGER GROWTH AND
PROFITABILITY IN LONG TERM
    * FIXED COSTS ARE ESTIMATED TO INCREASE SIGNIFICANTLY
RELATIVE TO
PREVIOUS YEAR
    * CURRENTLY ESTIMATES THAT NET SALES IN ASIA-PACIFIC REGION
WILL
CONTINUE TO GROW

Source text for Eikon:  ID:nGNE5B3zDp 
Further company coverage:  MMO1V.HE 

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