The Finnish textile provider Marimekko Corporation closed the 2023 financial year with increases in sales and earnings. The company said on Wednesday that revenues had increased significantly, particularly in the international wholesale business.
Annual sales reached 174.1 million euros, exceeding the 2022 level by almost five percent. In the Finnish home market, revenues rose by one percent to 98.9 million euros, while in foreign business they increased by ten percent to 75.2 million euros. The Asia-Pacific region made a significant contribution to this, with an increase of 17 percent to 35.4 million euros.
Despite higher marketing and personnel costs and more extensive discounts, operating profit rose by four percent to 31.4 million euros. The net result amounted to 23.6 million euros, which was also four percent above the previous year’s level.
With a view to the current 2024 financial year, management warned of ongoing uncertainties regarding the development of consumer confidence and purchasing power as well as the stability of supply chains. Nevertheless, the textile provider expects an increase in sales compared to the previous year. According to current estimates, the operating margin adjusted for special effects, which was 18.4 percent in 2023, will be between 16 and 19 percent in the current year.