Marimekko Oyj · OMXHEX:MEKKO
Marimekko Oyj — H1 2012 Earnings Presentation
25 slides from Marimekko Oyj's earnings presentation, Aug 14, 2012
Slide 1: Interim Report 1-6/2012
Interim Report 1-6/2012 Mika Ihamuotila 14 August 2012
Slide 2: Agenda
Agenda 1) Key events during the period: The trend of the period was very much in line with the company’s expectations. During the review period company-owned stores opened in Stockholm and in Gothenburg, and one retailer-owned Marimekko store in Hong Kong. 2) Net sales: Sales grew well despite a ver
Slide 3: Key events
Key events Marimekko opened two company- owned retail stores in the biggest cities in Sweden, Stockholm and Gothenburg. First Marimekko store was successfully opened in Hong Kong at the beginning of May. Legendary Marimekko fashion show was held in Helsinki in collaboration with Finnish National Bal
Slide 4: SoFo, Stockholm, Sweden
Photo: Carl Hjelte SoFo, Stockholm, Sweden
Slide 5: Gothenburg, Sweden
Photo: Carl Hjelte Gothenburg, Sweden
Slide 6: Marimekko store in Hong Kong opened in May
Marimekko store in Hong Kong opened in May.
Slide 7: Marimekko fashion show in Helsinki with Finnish National Ballet
Legendary Marimekko fashion show was held in Helsinki in collaboration with Finnish National Ballet.
Slide 8: Brand sales
Brand sales 1-6/2012 From January to June 2012 brand sales* grew by 4% to EUR 83.2 million (79.8). 58% (48%) of the sales came 29 % from abroad. 42 % (EUR 1,000) 1-6/2012 1-6/2011 Change,% 12 % Finland 34,846 41,330 -15.7 6,030 10 % 7 % Scandinavia 6,142 1.9 Central and Southern 8,091 6,492 24.6 1-6
Slide 9: Net sales H1/2012
Net sales H1/2012 Recent efforts are showing up in the form of strong growth in net sales even in the current, challenging state of the market. In January-June 2012, Marimekko Group’s net sales were up by 13.1% fuelled by growth in international sales. Net sales in Finland grew by 4%. Retail sales +
Slide 10: Net sales Q2/2012
Net sales Q2/2012 Net sales grew by 17% to EUR 19.7 million (16.8). Finland +10%. Retail sales rose by 20%; wholesale sales declined by 2%. International sales +31%. Retail sales rose by 131% and wholesale sales rose by 15%. mEUR 25 +17.2% 20 15 2012 2011 10 2010 5 0 Q1 Q2 Q3 Q4
Slide 11: Net sales by market area H1/2012
Net sales by market area H1/2012 Finland +4%: retail sales +21%, wholesale sales -13%. Sales were boosted by the three stores opened in the last quarter of 2011 as well as one new store opened during the first quarter of this year. The comparable growth in sales by company-owned stores was 10%. Scan
Slide 12: Net sales by market area
Net sales by market area 1-6/2012 15 % (EUR 1,000) 1-6/2012 1-6/2011* Change,% 7% Finland 22,511 21,563 4.4 Scandinavia 3,727 3,341 11.6 10 % 58 % Central and Southern 3,741 3,175 17.8 10 % Europe North America 2,720 1,690 60.9 Asia-Pacific 5,810 4,280 35.7 1-6/2011 TOTAL 38,509 34,049 13.1 13 % *Du
Slide 13: Net sales by product line
Net sales by product line 1-6/2012 22 % 36 % (EUR 1,000) 1-6/2012 1-6/2011* Change,% Clothing 13,936 12,963 7.5 Interior Decoration 16,276 14,507 12.2 42 % Bags 8,297 6,579 26.1 TOTAL 38,509 34,049 13.1 1-6/2011 *Due to adjustments made in internal sales reporting structures, the previously 19 % rep
Slide 14: Marimekko stores and shop-in-shops
Marimekko stores and shop-in-shops 94 (90) stores & shop-in-shops* at the end of June 2012. 100 90 80 70 60 50 40 30 20 10 0 2005 2006 2007 2008 2009 2010 2011 II-2012 Asia-Pacific 1 8 10 15 19 21 22 23 North America 1 3 5 5 4 5 11 11 Central and Southern Europe 2 5 5 4 4 4 5 5 Scandinavia 6 11 12 1
Slide 15: Operating result weak as expected
Operating result weak as expected The operating result was EUR -1.5 million (-0.4) during January-June 2012. The Group’s financial result for the first half of the year is typically weak as a consequence of seasonally low net sales in relation to operating expenses, and especially profits from retai
Slide 16: Investments continued to be high
Investments continued to be high Gross investments were EUR 3.9 million (3.2) representing 10% (9%) of net sales. Most of the investments were devoted to building new stores and renovating the Herttoniemi property. mEUR 4 3,5 3 2,5 2012 2 2011 1,5 2010 1 0,5 0 Q1 Q2 Q3 Q4
Slide 17: Key figures
Key figures 1-6/2012 1-6/2011 Change, % 1-12/2011 Net sales, EUR 1,000 38,509 34,049 13.1 77,442 Proportion of international sales, % 41.5 36.7 35.8 EBITDA, EUR 1,000 119 478 -75.1 5,744 Operating result, EUR 1,000 -1,480 -438 3,528 Operating result margin, % -3.8 -1.3 4.6 Result for the period, EUR
Slide 18: Share price previous 12 months
Share price previous 12 months Marimekko OMX Helsinki
Slide 19: Market outlook and growth targets
Market outlook and growth targets The negative effects of the structural problems of the international financial markets on general economic trends continue to dampen the outlook for retail sales and make it difficult to predict consumers’ purchasing behavior in different market areas. The new store
Slide 20: Financial guidance
Financial guidance The forecast for the whole of 2012 remains unchanged: the Marimekko Group's net sales are estimated to grow by over 10% and operating profit is forecast to at least double. The increased share of retail sales adds to the seasonality of the business, and thus the operating profit w
Slide 21: Events after the review period
Events after the review period Marimekko opens three new company- owned retail stores in major cities on the East and West Coast this year. Stores open in Beverly Hills, Boston and Palo Alto, in the heart of Silicon Valley. The first store opened in Boston at the beginning of August. Marimekko also
Slide 22: Boston, USA
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Slide 23: Boston, USA
Boston, USA marimekko:
Slide 24: Exhibition at Shanghai in Autumn
Exhibition at Shanghai in Autumn Worldwide renowned Museum of Contemporary Art, MOCA Shanghai, opens Design Colours Life - Contemporary Finnish Design and Marimekko exhibition in Autumn. Marimekko opens the topic as a forerunner and example of the inclusive, democratic approach of Finnish design thi
Slide 25: marimekko
marimekko