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2012-12-12 17:10:00 CET 2012-12-12 17:10:04 CET REGULATED INFORMATION Marimekko - Company AnnouncementMARIMEKKO EXPECTS OPERATING PROFIT FOR 2012 TO BE LOWER THAN ESTIMATED; NET SALES GROWTH ESTIMATE REMAINS UNCHANGEDMarimekko Corporation, Stock exchange release 12 December 2012 at 6:10 PM In its interim report for the January-September period, published on 30 October 2012, Marimekko Corporation estimated that the Group's net sales for the whole year would grow by over 10% and operating profit would at least double compared to 2011. The company is revising its earlier estimate of operating profit for 2012. Christmas sales in Marimekko's own retail stores in Finland and the company's other main markets have taken off noticeably more slowly than anticipated. Partly for the same reason, orders by retailers in Finland have also been clearly lower than expected. In addition, the trend in some of the company-owned stores opened outside Finland in recent months has been below expectations. 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 internationalisation 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 year 2012 is forecast to be approximately at the same level as in 2011. The actual operating profit will depend critically on the trend in sales during the rest of the Christmas season. The net sales estimate given in the interim report of 30 October 2012 remains unchanged. The updated forecast for 2012 in its entirety is as follows: the Marimekko Group's net sales are estimated to grow by over 10% and operating profit is forecast to be approximately at the same level as in 2011. Marimekko's financial statements bulletin for 2012 will be published on Thursday 31 January 2013 at 8.30 AM. MARIMEKKO CORPORATION Corporate Communications Merja Paulamäki Tel. +358 9 758 7473 merja.paulamaki@marimekko.fi DISTRIBUTION: NASDAQ OMX Helsinki Ltd Key media Marimekko is a Finnish textile and clothing design company renowned first and foremost for its original prints and colours. The company designs and manufactures high-quality household goods ranging from interior decoration textiles to tableware as well as clothing, bags, and other accessories. When Marimekko was founded in 1951, its unprecedented printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2011, sales of the company's brands were some EUR 170 million with net sales of EUR 77 million. At the end of the year, there were 90 Marimekko stores. The key markets are North America, Northern Europe and the Asia-Pacific region. The Group has about 500 employees. Marimekko's shares are quoted on NASDAQ OMX Helsinki Ltd. www.marimekko.fi |
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