Marimekko Corporation, Inside Information, September 6, 2022 at 7:45 a.m.
Marimekko Raises Long-Term Financial Goals and Focuses on Scaling Profitable Growth in the Next Strategic Period
Marimekko’s Board of Directors decided on new long-term financial goals for the company, raising targets for net sales development and comparable operating profit margin. At the same time, the board set a direction for Marimekko’s next strategic period from 2023 to 2027, during which the company will focus on scaling the business and growing its Marimekko, especially in international markets, as described in a separate statement. Marimekko will detail new long-term financial goals and strategic direction at the company’s first-ever Capital Markets Day on Wednesday, September 14, 2022.
Marimekko’s long-term financial goals
The new long-term financial objectives are as follows:
annual growth in net sales 15% (previously: more than 10%)
comparable operating margin 20% (before: 15%)
net debt to EBITDA ratio at the end of the year max. 2 (unchanged)
the intention is to pay an annual dividend; percentage of earnings per share allocated to dividends at least 50% (unchanged)
Previous financial targets were set in November 2018 and the company exceeded them at the end of 2021.
Marimekko’s Capital Markets Day on September 14, 2022
Marimekko will host a Capital Markets Day on Wednesday, September 14, 2022 from 1:00 p.m. EEST. Institutional investors, analysts and the media are invited to join the physical event at Marimekko’s headquarters in Helsinki. Capital Markets Day can also be followed via a live webcast. For more information and registration instructions, please see https://company.marimekko.com/en/investors/capital-markets-day.
Further information :
In addition to Capital Markets Day, Marimekko President and CEO Tiina Alahuhta-Kasko and Chief Financial Officer Elina Anckar are available for media and investor inquiries on September 6, 2022 between September 9 and September 9, 2022. 11 EEST.
Tiina Alahuhta-Kasko, President and CEO, tel. +358 9 758 71
Elina Anckar, Financial Director, tel. +358 9 758 7261
Lotta Roitto, Marimekko Communications, tel. +358 9 7587 233 ([email protected])
board of directors
Nasdaq Helsinki Ltd
Marimekko is a Finnish lifestyle design company renowned for its original prints and colors. The company’s product portfolio includes high-quality apparel, Bags and accessories as well as decorative items ranging from textiles to tableware. When Marimekko was founded in 1951, its unrivaled printed fabrics gave it a strong and unique identity. In 2021, the company’s net sales amounted to 152 million euros and the product brand’s sales worldwide amounted to 376 million euros. Globally, there are approximately 150 Marimekko stores, and the online store serves customers in 35 countries. Key markets are Northern Europe, Asia-Pacific Region and North America. The Group employs approximately 410 people. The company’s stock is listed on Nasdaq Helsinki Ltd. marimekko.com