Marimekko Corporation, Press Release, 30 March 2026 at 3.30 p.m EEST Marimekko continues its expansion in Asia to Indonesia and the Philippines Marimekko continues its expansion in Asia and launches operations in two new markets, Indonesia and the Philippines. The first Marimekko stores in these markets are estimated to be opened during summer 2026. Marimekko will operate in both countries under a loose franchise partnership model customary to the company in Asia. The launch of the Marimekko brand in Indone ...

Core Insights - Marimekko Corporation has published its annual report for 2025, which includes various financial and governance documents [1][2][3] Financial Performance - In 2025, Marimekko's net sales reached EUR 190 million, with a comparable operating profit margin of 17.1 percent [4] Sustainability Reporting - The Board of Directors' report includes a sustainability report prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS) [2] - The sustainability report has been assured by KPMG Oy Ab at a limited assurance level in accordance with ISAE 3000 (revised) [2] Compliance and Reporting Standards - Marimekko's financial statements for 2025 are published in XHTML format to comply with European Single Electronic Format (ESEF) reporting requirements, with primary statements labeled using XBRL tags [3] - KPMG Oy Ab has also assured the XHTML file and the XBRL tags included in it in accordance with ISAE 3000 (revised) [3] Company Overview - Marimekko is a Finnish lifestyle design company known for its original prints and colors, with a product portfolio that includes clothing, bags, accessories, and home décor items [4] - The company operates over 170 stores globally and serves customers in 39 countries through its online store, with key markets in Northern Europe, the Asia-Pacific region, and North America [4] - Marimekko employs approximately 490 people and is listed on Nasdaq Helsinki Ltd [4]

Core Insights - Marimekko Corporation has published its annual report for 2025, which includes various financial and governance documents [1] - The report features a sustainability report compliant with the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS) [2] - The financial statements for 2025 are published in XHTML format, adhering to European Single Electronic Format (ESEF) requirements [3] Financial Performance - In 2025, Marimekko's net sales reached EUR 190 million, with a comparable operating profit margin of 17.1 percent [4] - The company operates over 170 stores globally and serves customers in 39 countries through its online store [4] Corporate Governance - The sustainability report has been assured by KPMG Oy Ab at a limited assurance level in accordance with ISAE 3000 (revised) [2] - The XHTML file and financial statements have also been assured by KPMG Oy Ab, ensuring compliance with reporting standards [3] Company Overview - Marimekko is a Finnish lifestyle design company known for its unique prints and colors, offering a range of products including clothing, bags, accessories, and home décor [4] - The company employs approximately 490 people and is listed on Nasdaq Helsinki Ltd [4]

Acquisition Details - Marimekko has completed the acquisition of 90,000 own shares at an average price of EUR 11.2536, totaling EUR 1,012,821.12 [1] - The acquisition period was from 17 February 2026 to 4 March 2026, and the announcement was made on 12 February 2026 [1] Shareholding Information - After the acquisitions, Marimekko holds 167,790 of its own shares, which is approximately 0.41 percent of the total shares [2] - Shares held by the company do not carry voting rights or entitlement to dividends [2] Authorization and Purpose - The acquisition was based on the authorization from the Annual General Meeting held on 15 April 2025 [3] - The shares were acquired using funds from the company's non-restricted equity and may be used for incentive compensation, transferred for other purposes, or cancelled [3] Company Overview - Marimekko is a Finnish lifestyle design company known for its original prints and colors, with a product portfolio that includes clothing, bags, accessories, and home décor [3] - In 2025, the company's net sales were EUR 190 million, with a comparable operating profit margin of 17.1 percent [3] - The company operates over 170 stores globally and serves customers in 39 countries through its online store, with key markets in Northern Europe, the Asia-Pacific region, and North America [3]

Core Viewpoint - Marimekko Corporation has successfully completed the acquisition of its own shares, acquiring a total of 90,000 shares at an average price of EUR 11.2536, amounting to EUR 1,012,821.12 [1] Group 1: Share Acquisition Details - The acquisition period for the shares was from 17 February 2026 to 4 March 2026, with the shares purchased through public trading on Nasdaq Helsinki [1] - After the acquisition, Marimekko holds a total of 167,790 of its own shares, which is approximately 0.41 percent of the total shares outstanding [2] - The shares acquired do not carry voting rights and do not entitle the company to dividends [2] Group 2: Authorization and Purpose - The share acquisition was authorized by the Annual General Meeting held on 15 April 2025 [3] - The funds used for the acquisition came from the company's non-restricted equity [3] - The acquired shares may be utilized for the company's incentive compensation program, transferred for other purposes, or cancelled [3] Group 3: Company Overview - Marimekko is a Finnish lifestyle design company known for its unique prints and colors, with a product portfolio that includes clothing, bags, accessories, and home décor items [3] - In 2025, Marimekko reported net sales of EUR 190 million and a comparable operating profit margin of 17.1 percent [3] - The company operates over 170 stores globally and serves customers in 39 countries through its online store, with key markets in Northern Europe, the Asia-Pacific region, and North America [3]

Financial Data and Key Metrics Changes - Q4 net revenues grew 33% year-over-year, reaching $201.9 million, marking the strongest quarterly growth in over four years [6][25] - Full year net revenues reached a record $631.1 million, an increase of 14% year-over-year [31] - Adjusted EBITDA for Q4 was $26.7 million, with an adjusted EBITDA margin of 13.2% compared to 13.9% last year [31] - Gross margin for Q4 contracted 440 basis points to 62.9% due to higher tariffs and a one-time benefit from duty drawback claims in the previous year [29][30] Business Line Data and Key Metrics Changes - Scrub wear surged 35%, representing 77% of net revenues for the period, while non-scrub wear increased 26%, accounting for 23% of net revenues [27] - Average order value increased 9% to $126, driven by higher average unit retail and units per transaction [26] - Active customer growth accelerated to 9% year-over-year, reaching a record of over 2.9 million active customers [26] Market Data and Key Metrics Changes - U.S. net revenues increased 29% to $164.2 million, while international net revenues grew 55% to $37.7 million [28] - International growth was primarily driven by existing markets, with notable performance in Canada, Mexico, and ongoing success in the Middle East and Europe [29] Company Strategy and Development Direction - The company aims to be the leading premium healthcare uniform provider globally, focusing on product innovation, community engagement, and market expansion [4][11] - Plans for 2026 include elevating core products through fabric innovation and expanding into new categories beyond scrubs [12][13] - The company is strategically investing in community hubs and international markets, with plans to open four new community hubs in 2026 [22][47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position post-COVID, highlighting strong demand for healthcare professionals and the need for FIGS products [10][61] - The company anticipates net revenue growth of 10%-12% year-over-year for fiscal 2026, driven by sustained active customer momentum [35] - Management acknowledged the challenges posed by tariffs but remains optimistic about long-term growth and profitability [34][39] Other Important Information - The company ended 2025 with a record net cash position of $300.8 million, allowing for continued investment in growth opportunities [32] - A $5.6 million inventory write-off was taken in Q4 to address older inventory, positioning the company for better inventory management in 2026 [33] Q&A Session Summary Question: Can you talk about the flow through from the Olympics and the strength of community hubs? - Management highlighted the success of their Olympic campaign and the positive performance of community hubs, with plans to open four new locations in 2026 [43][47] Question: Can you provide insights on international market growth and customer response to pricing adjustments? - Management reported strong growth in international markets, particularly in Canada and Mexico, and noted that customer response to recent price adjustments has been cautiously positive [71][73] Question: What are the drivers of sequential acceleration in U.S. growth momentum? - Management indicated balanced growth across different customer cohorts, with improvements in new customer acquisition, reactivation, and retention rates [84]

Financial Data and Key Metrics Changes - In Q4 2025, the company reported adjusted net sales of $583.7 million, representing a 5% year-over-year growth, marking the strongest quarterly performance of the year [28] - Adjusted gross profit was $341 million, or 58.4% of sales, down 180 basis points year-over-year, impacted by higher tariff costs [31] - Adjusted net income decreased 15% to $71.8 million, or 12.3% of sales, with adjusted EPS declining to $0.92 from $1 [32] Business Line Data and Key Metrics Changes - Drinkware sales grew 6% to $380 million, while U.S. Drinkware sales were flat year-over-year [28][29] - Coolers and Equipment sales grew 2% to $192 million, despite supply constraints [29] - Direct-to-consumer sales grew 5% to $394 million, with growth across all D2C channels [30] Market Data and Key Metrics Changes - International sales grew 25% to $136 million, representing 23% of Q4 sales, up from 20% in the prior year [30] - Europe showed exceptional growth, particularly in the U.K. and Germany, while Australia delivered its strongest performance of the year [30][17] - The international market has grown from 2% of sales at IPO to 21% today, indicating significant expansion potential [16] Company Strategy and Development Direction - The company aims for 6%-8% net sales growth in 2026, driven by innovation and expanding global reach [6][34] - Strategic priorities include driving product innovation, broadening brand reach, and expanding globally [7][16] - The company is investing in foundational technology platforms and AI to enhance consumer engagement and operational efficiency [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth trajectory, despite a challenging consumer environment [6][7] - The company anticipates healthy growth in 2026 as new production capacity comes online [10] - Management highlighted the importance of maintaining premium positioning and protecting channel integrity [16] Other Important Information - The company executed $125 million in share repurchases during Q4, totaling approximately $300 million for the year [5][33] - A leadership transition was announced, with Scott Bomar appointed as the new CFO [22][23] Q&A Session Summary Question: Pricing and Tariffs - Inquiry about pricing increases and potential tariff relief - Management indicated pricing impacts would be similar to the previous year, with no current expectations for tariff relief [45][46] Question: International Business Foundations - Request for details on foundational work for international expansion - Management highlighted established teams in key markets and the focus on building wholesale and e-commerce capabilities [50][52] Question: Revenue Guidance Context - Inquiry about the conservatism in international revenue guidance and drinkware expectations - Management confirmed a cautious but optimistic outlook, with inventory levels down year-over-year [56][57] Question: U.S. Market Improvement - Request for context on expected sequential improvement in the U.S. market - Management noted stabilization in the drinkware category and opportunities for growth across all categories [62][63] Question: Operating Expense Leverage - Inquiry about expected inflection in operating expense leverage - Management discussed investments made in 2025 that are expected to yield leverage in 2026 [65][66]

Core Viewpoint - YETI Holdings, Inc. has appointed Scott Bomar as the new Chief Financial Officer, succeeding Mike McMullen, who will assist in the transition until May 31, 2026 [1][3] Group 1: Leadership Transition - Scott Bomar will officially take over as CFO on February 23, 2026, bringing over 20 years of financial and operational leadership experience from his previous roles, including Senior Vice President of Finance at Home Depot [1][2] - Mike McMullen has served as CFO for a decade and played a crucial role in YETI's transformation, including its public listing in 2018 [3][4] Group 2: Scott Bomar's Background - Bomar has a strong track record in financial operations, having led various aspects of Home Depot's finance, including financial planning, treasury, and acquisition integration [2][5] - He has also held significant operational responsibilities, including managing Home Depot's $5 billion Home Services business unit and retail operations in China [2][5] Group 3: Company Strategy and Future Outlook - YETI aims to capitalize on growth opportunities by focusing on product innovation, expanding global presence, and penetrating its total addressable market [4][3] - The company is committed to disciplined execution and driving long-term shareholder value, leveraging Bomar's expertise in cost management and operational efficiency [3][4]

Core Viewpoint - Marimekko Corporation's Board of Directors has decided to initiate a share buyback program, acquiring up to 90,000 shares, which is approximately 0.22% of the total shares outstanding, starting from 16 February 2026 and expected to conclude by the end of May 2026 [1] Group 1: Share Buyback Details - The Annual General Meeting on 15 April 2025 authorized the acquisition of a maximum of 150,000 shares, representing about 0.4% of the total shares [2] - The shares will be purchased using funds from the company's non-restricted equity, which will reduce the funds available for distribution [2] - The acquired shares may be used for incentive compensation programs, transferred for other purposes, or cancelled, with the authorization valid until 15 October 2026 [2] Group 2: Company Overview - Marimekko Corporation has a total of 40,649,170 shares and currently holds 77,790 of its own shares [3] - In 2025, the company's net sales reached EUR 190 million, with a comparable operating profit margin of 17.1% [3] - Marimekko operates approximately 170 stores globally and serves customers in 39 countries through its online store, with key markets in Northern Europe, the Asia-Pacific region, and North America [3]

Core Insights - Marimekko's net sales in the fourth quarter of 2025 increased by 1 percent to EUR 54.7 million, driven by growth in retail and wholesale sales in the Asia-Pacific region, despite a challenging market environment [11][12][8] - The company reported a comparable operating profit margin of 16.1 percent for the fourth quarter, slightly down from 17.1 percent in the previous year, impacted by higher fixed costs [14][8] - For the full year 2025, net sales grew by 4 percent to EUR 189.6 million, with comparable operating profit reaching EUR 32.3 million, representing 17.1 percent of net sales [15][8] Fourth Quarter Summary - International sales increased by 5 percent, while domestic sales in Finland decreased by 1 percent due to lower retail sales [13][8] - The operating profit for the fourth quarter was EUR 8.7 million, down from EUR 9.1 million in the previous year, affected by increased fixed costs [14][8] - The company experienced a growth in omnichannel retail sales globally, with a total increase of 2 percent in the fourth quarter [13][12] Year 2025 Summary - Marimekko's total net sales for 2025 were EUR 189.6 million, up from EUR 182.6 million in 2024, with international sales growing by 7 percent [15][8] - The comparable operating profit for the year was EUR 32.3 million, slightly up from EUR 31.9 million in 2024, with a margin of 17.1 percent [15][8] - The company faced challenges with licensing income, which was significantly lower than the previous year [15][8] Dividend Proposal - The Board of Directors proposed a dividend of EUR 0.42 for 2025, with the record date set for April 20, 2026, and payout date on April 27, 2026 [4] Financial Guidance for 2026 - Marimekko expects net sales to grow in 2026, with a comparable operating profit margin estimated to be around 16–19 percent [5][22] - The outlook for 2026 is influenced by consumer confidence, purchasing power, and geopolitical uncertainties, which may cause volatility [5][22] - The company plans to open approximately 10–15 new stores in 2026, primarily in the Asia-Pacific region [24][22] Brand Development and Market Positioning - Marimekko opened its first flagship store in Paris in late October 2025, aiming to enhance brand awareness and positioning in key global markets [16] - The company also expanded its store network in Asia, with new flagship stores in Hong Kong, Tokyo, and Bangkok, and several pop-up stores transitioning to permanent locations [17] - The launch of a new Marimekko app for customer loyalty program members aims to enhance the omnichannel retail experience [18] Market Outlook - The company anticipates challenges in the Finnish market due to a weak economy and low consumer confidence, but expects domestic sales to increase in 2026 [23][22] - International sales, particularly in the Asia-Pacific region, are projected to grow, although initial sales growth may be muted in the first quarter of 2026 [24][22] - Licensing income is expected to remain stable compared to the previous year, with a significant portion of sales traditionally generated in the second half of the year [25][22]