Marimekko reports increase in Q3 sales, but profit narrows

Finish fashion and home furnishing company Marimekko has reported an increase in sales but a drop in profitability in the third quarter of the year.

In the three months to September 30, net sales were up 4 percent to 44.1 million million euros.

Sales in its home market dropped 7 percent as wholesale sales in Finland in the previous period were strengthened by substantially higher non-recurring promotional deliveries than before.

International sales were up by 28 percent, with a particularly strong performance from wholesale and retail sales in the Asia-Pacific region.

Profit falls

Marimekko made an operating profit of 11.1 million euros, down from 13.1 million euros a year earlier.

Its EBITDA came in at 13.5 million euros, down from 16.1 million euros.

Looking at the full year, Marimekko expects net sales to be higher than the previous year’s sales of 152.2 million euros.

It also expects comparable operating profit margin to be approximately 17 percent to 20 percent, compared to 20.5 percent the previous year.

“Global supply chain disruptions, generally increased material and logistics costs as well as the development of consumer confidence and purchasing power in particular cause volatility to the outlook for 2022,” the company said.