Marimekko Oyj (OTCPK:MKKOF)

$ 12.422 -2.013 (-13.95%) Market Cap: 497.37 Mil Enterprise Value: 497.89 Mil PE Ratio: 20.93 PB Ratio: 7.22 GF Score: 96/100

Half Year 2024 Marimekko Oyj Earnings Call Transcript

Aug 15, 2024 / 11:00AM GMT

Release Date Price: $14.44

Transcript

Key Points

Positve

Net sales increased by 8% in Q2, totaling EUR 43.7 million.
International sales grew by 6%, with significant growth in the Asia Pacific region.
Omnichannel retail sales grew in all market areas.
Cash flow from operating activities increased significantly.
Strong financial position despite weaker general market conditions.

Negative

Operating profit was slightly behind the comparison period.
Licensing income was significantly lower than in the comparison period due to seasonal variation.
Higher fixed costs due to marketing investments and personnel expenses.
Relative sales margin weakened by higher discounts and increased logistic costs.
Wholesale sales in the EMEA region decreased.

Ana Touminen

Marimekko Oy - Director of Communcations & Investor Relations

Good afternoon, ladies and gentlemen. My name is Ana Touminen and with me, I have our President and CEO, Tiina Alahuhta-Kasko and we are happy that you're joining us to hear more about Marimekko's half year financial report and Q2 results today.

First, Tiina, I will take a while to go through the results. And after that, we'll have a Q&A session where our CFO, Elina Nckar will join us well. (Event instructions) But without further ado, Tiina, please go ahead.

Tiina Alahuhta;Kasko

Marimekko Oyj - Chairman of the Management Board, President, Chief Executive Officer

Thank you, Ana. And good afternoon, afternoon also on my behalf. It's my pleasure to walk you through today, our half year financial report, let's get started. How did we do in the second-quarter of 2024? Our business continued to develop well and our net sales continued to grow in the second-quarter. Our operating profit was slightly behind the comparison period, but our cumulative operating

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