Q1 2026 Marimekko Oyj Earnings Call Transcript
Key Points
- Marimekko Oyj (FRA:N97) reported a 5% increase in net sales for Q1 2026, totaling EUR 41.4 million, driven by strong international sales growth.
- The company's comparable operating profit improved by 19%, amounting to EUR 5.3 million, which is 12.7% of net sales.
- International sales grew by 9%, with retail sales increasing by 20% and wholesale sales by 4%, showcasing strong global demand.
- Marimekko Oyj (FRA:N97) expanded its omnichannel store network, opening four new stores and six pop-up stores, primarily in Asia.
- The company announced future expansion plans in Southeast Asia, including new markets in Indonesia and the Philippines, indicating strategic growth initiatives.
- Despite growth, the Finnish market remains challenging with weak consumer confidence impacting retail sales.
- Increased fixed costs, particularly due to higher marketing and personnel expenses, negatively impacted operating profit.
- The Asia-Pacific region saw a 4% decrease in wholesale sales due to timing issues, affecting overall regional performance.
- The ongoing war in Iran and geopolitical tensions pose significant uncertainties, potentially impacting logistics and costs.
- Fixed costs are expected to rise significantly in Q2 2026, which may pressure the company's profitability margins.
Good afternoon. My name is Anna Tuominen. I'm the IRO of Marimekko, and it is my pleasure to welcome you to our Q1 results webcast. In a short while, Tiina will go through our latest results, and after that, we'll have time for your questions. (Event Instructions). But without further ado, Tiina, please go ahead.
Thank you, Anna. And good afternoon, everyone. It is again my pleasure to walk you through our results now for the first quarter of 2026. So how did Marimekko 's Q1 2026 go? It went well.
Despite the continued challenging market situation, our net sales grew, driven by growth in international sales, and our operating profit improved. Our net sales in the first quarter increased in total by 5% and totaled EUR 41.4 million. And the net sales were boosted, especially by the increased wholesale sales, both in Scandinavia and in Finland. Our international sales altogether increased by 9% as
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