Thanks to a strong final quarter: Marimekko increases annual sales and earnings

The Finnish textile company Marimekko Corporation achieved growth in sales and profit in fiscal year 2024. This was due in no small part to record results in the fourth quarter. According to the annual report published on Wednesday, management anticipates further revenue growth in 2025 despite the continuing uncertain economic environment.

Marimekko's net profit increases by 20 percent in the fourth quarter

In the final quarter of the past year, sales amounted to 54.0 million euros. This exceeded the prior-year period by seven percent and marked the highest level in the company's history.

In the Finnish home market, revenue increased by three percent to 31.3 million euros. International business grew by 13 percent to 22.7 million euros, thanks to double-digit growth in Scandinavia (+20 percent), the remaining EMEA markets (+12 percent), and the Asia-Pacific region (+11 percent).

Due to improved margins, operating profit grew by 13 percent to 9.1 million euros. Net profit in the fourth quarter reached 7.3 million euros, representing a 20 percent increase compared to the same period last year.

Management expects further sales growth in 2025

For the full fiscal year 2024, sales totaled 182.6 million euros, surpassing the previous year's figure by five percent. Operating profit remained virtually unchanged at 31.4 million euros, while net profit increased by three percent to 24.4 million euros.

The company now anticipates further sales growth in 2025. The adjusted operating margin (excluding special items), which was 17.5 percent last year, is expected to reach 16 to 19 percent. However, management cautioned about the continuing volatile market conditions, citing the unpredictable development of consumer sentiment and purchasing power in Finland, as well as "general uncertainties" and potential disruptions in supply chains.