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Marimekko Oyj Comments on FY 2012 Net Sales and Operating Profit Guidance


Wednesday, 12 Dec 2012 11:10am EST 

Marimekko Oyj announced that the Company is revising its earlier estimate of operating profit for the fiscal year 2012. As announced earlier, an increased share of the Group’s net sales comes from the sales of company-owned stores, which adds to the seasonality of the business and substantially shifts the main thrust of the accrual of net sales and operating profit to the final quarter. This, together with increased fixed costs resulting from internationalization during the past few years and the expansion of the Company’s own retail store network, markedly increases operating result fluctuations in both directions - negative in this case. According to the new estimate, the Group’s operating profit for the whole fiscal year 2012 is forecast to be approximately at the same level as in the fiscal year 2011. The net sales estimate given in the interim report of October 30, 2012 remains unchanged. The updated forecast for the fiscal year 2012 in its entirety is as follows: the Marimekko Group’s fiscal year 2012 net sales are estimated to grow by over 10% and the fiscal year 2012 operating profit is forecast to be approximately at the same level as in the fiscal year 2011. In the fiscal year 2011, the Company reported net sales of EUR 77.44 million and operating profit (EBIT) of EUR 3.53 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2012 net sales of EUR 90.37 million. 

Company Quote

9.47
-0.08 -0.84%
11:29am EST