Marimekko Corporation, Inside Information, 6 September 2022 at 7.45 a.m.
Marimekko raises its long-term financial goals and focuses on scaling its profitable growth during the next strategy period
Marimekko Board of Directors have decided on the new long-term financial goals for the company, raising the targets for net sales development and comparable operating profit margin. At the same time, the Board has set a direction for Marimekko's next strategy period of 2023-2027, during which the company will focus on scaling the Marimekko business and growth especially in international markets, as described in a separate release. Marimekko will elaborate on the new long-term financial goals and strategic direction at the company's first-ever Capital Markets Day on Wednesday, 14 September 2022.
Marimekko's long-term financial goals
The new long-term financial goals are as follows:
- annual growth in net sales 15% (earlier: over 10%)
- comparable operating profit margin 20% (earlier: 15%)
- ratio of net debt to EBITDA at year end max. 2 (unchanged)
- the intention is to pay a yearly dividend; percentage of earnings per share allocated to dividends at least 50% (unchanged)
The previous financial goals were set in November 2018, and the company exceeded them at the end of 2021.
Marimekko's Capital Markets Day on 14 September 2022
Marimekko will organize a Capital Markets Day on Wednesday, 14 September 2022 from 13.00 EEST onwards. Institutional investors, analysts and media are welcome to join the physical event at Marimekko Headquarters in Helsinki. The Capital Markets Day can also be followed via a live webcast. For more information and instructions on registration, please see https://company.marimekko.com/en/investors/capital-markets-day.
Further information:
In addition to the Capital Markets Day, Marimekko's President and CEO Tiina Alahuhta-Kasko and CFO Elina Anckar are available for media and investor inquiries on 6 September 2022 between 9-11 EEST.
Tiina Alahuhta-Kasko, President and CEO, tel. +358 9 758 71
Elina Anckar, CFO, tel. +358 9 758 7261
Lotta Roitto, Marimekko Communications, tel. +358 9 7587 233 (lotta.roitto@marimekko.com)
MARIMEKKO CORPORATION
Board of Directors
DISTRIBUTION:
Nasdaq Helsinki Ltd
Key media
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. In 2021, the company's net sales were EUR 152 million and brand sales of the products worldwide amounted to EUR 376 million. Globally, there are roughly 150 Marimekko stores, and online store serves customers in 35 countries. The key markets are Northern Europe, the Asia-Pacific region and North America. The Group employs about 410 people. The company's share is quoted on Nasdaq Helsinki Ltd.?marimekko.com
