MARIMEKKO RAISES ITS GUIDANCE FOR 2020: NET SALES ARE EXPECTED TO BE APPROXIMATELY AT THE SAME LEVEL AS OR SLIGHTLY LOWER THAN IN THE PREVIOUS YEAR AND COMPARABLE OPERATING PROFIT IS ESTIMATED TO BE HIGHER THAN THE YEAR BEFORE

Marimekko Corporation, Inside Information, 10 December 2020 at 8.00 a.m.

MARIMEKKO RAISES ITS GUIDANCE FOR 2020: NET SALES ARE EXPECTED TO BE APPROXIMATELY AT THE SAME LEVEL AS OR SLIGHTLY LOWER THAN IN THE PREVIOUS YEAR AND COMPARABLE OPERATING PROFIT IS ESTIMATED TO BE HIGHER THAN THE YEAR BEFORE

In its interim report published on 4 November 2020, Marimekko Corporation estimated that the Group's net sales for 2020 would be lower than in the previous year and comparable operating profit would be approximately at the same level as or lower than the year before.

Marimekko now raises its earlier estimate on the development of net sales and comparable operating profit in 2020. According to the new estimate, the Marimekko Group’s net sales are expected to be approximately at the same level as or slightly lower than in the previous year and comparable operating profit is estimated to be higher than the year before. The improved outlook is based, in particular, on a better-than-expected trend and improved outlook in the retail sales in Finland.

The company estimates that clearly the major portion of its earnings for the second half of 2020 is generated during the third quarter of the year, like in 2019. The net sales accrual in the second half of 2020 is expected to be more balanced between the two last quarters.

However, there are uncertainties related to the company’s outlook for 2020. The outlook for Marimekko’s important domestic market as well as for the Group’s total retail sales continues to essentially depend on the trend in customer numbers in retail stores during the rest of the year and whether the coronavirus pandemic will intensify to an extent, which would require temporary closures of Marimekko’s own retail stores. Net sales and earnings for the rest of the year essentially also depend on maintaining the operational reliability of distribution centers and logistics in the pandemic situation.

Marimekko’s financial statements bulletin 2020 will be issued on Thursday 18 February 2021 at 8.00 a.m.

MARIMEKKO CORPORATION
Corporate Communications

Anna Tuominen
Tel. +358 40 584 6944
anna.tuominen@marimekko.com

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Nasdaq Helsinki Ltd
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Marimekko is a Finnish lifestyle design company renowned for its original prints and colors. The company’s product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2019, brand sales of the products worldwide amounted to EUR 251 million and the company's net sales were EUR 125 million. Roughly 150 Marimekko stores serve customers around the globe. The key markets are Northern Europe, North America and the Asia-Pacific region. The Group employs about 450 people. The company’s share is quoted on Nasdaq Helsinki Ltd. www.marimekko.com