In This Article:
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Q4 Net Sales: Increased by 7% to EUR 54 million.
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Q4 Comparable Operating Profit: Improved by 12% to EUR 9.3 million, equalling 17.1% of net sales.
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Full Year Net Sales: Increased by 5% to EUR 182.6 million.
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Full Year Comparable Operating Profit Margin: 17.5%.
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International Sales Growth: Increased by 13% in Q4.
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Asia Pacific Sales Growth: Net sales increased by 11% in Q4.
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Retail Sales Growth: Increased by 12% in Q4.
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Wholesale Sales: Declined by 1% in Q4.
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Licensing Income: Increased by 11% for the full year.
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Store Network: 168 stores globally, with 91 in the Asia Pacific region.
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Dividend Proposal: Regular dividend of EUR 0.40 and an extraordinary dividend of EUR 0.25 for 2024.
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2025 Financial Guidance: Net sales expected to grow; comparable operating profit margin estimated at 16% to 19%.
Release Date: February 19, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Marimekko Oyj (FRA:N97) achieved a new quarterly record high in net sales during Q4 2024, with a 7% increase totaling EUR 54 million.
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The company's international sales grew by 13% in Q4, with significant contributions from both retail and wholesale sectors.
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Marimekko Oyj's comparable operating profit improved by 12% in Q4, reaching EUR 9.3 million, equating to 17.1% of net sales.
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The Asia Pacific region, Marimekko Oyj's second-largest market, saw an 11% increase in net sales, driven by a 25% growth in retail sales.
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The company successfully launched a new e-commerce platform, enhancing its digital presence and contributing to the growth of online sales.
Negative Points
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Higher logistic costs negatively impacted the relative sales margin in Q4 2024.
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Fixed costs increased due to higher personnel and marketing expenses, affecting the operating profit.
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The company anticipates lower licensing income in 2025 compared to the record levels of 2024.
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Non-recurring promotional deliveries in Finnish wholesale are expected to be significantly lower in 2025, impacting net sales.
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Global economic uncertainties, including geopolitical tensions and cost inflation, pose risks to consumer confidence and purchasing power, potentially affecting Marimekko Oyj's business in 2025.
Q & A Highlights
Q: How do you see the role of digital channels and digital customer experience affecting results in 2024 and going forward? A: Tiina Alahuhta-Kasko, President & CEO, explained that the digital business, particularly online sales, continued to grow in Q4 2024. The company has been strategically increasing the importance of online commerce and aims to create seamless omnichannel experiences for customers. The new e-commerce platform update is part of efforts to better serve customers.