Marimekko (MEKKO) Q1 2026 earnings summary

Executive summary

• Net sales grew by 5% year-over-year to EUR 41.4 million in Q1 2026, driven by international sales growth and strong wholesale and retail performance, especially in Scandinavia and Finland.

• Comparable operating profit rose 19% to EUR 5.3 million, with a margin of 12.7% of net sales.

• International sales increased by 9%, with retail sales up 20% and wholesale sales up 4% internationally.

• Cash flow from operating activities improved to EUR -0.2 million from EUR -3.2 million year-over-year, and the financial position remains robust.

• Brand sales totaled EUR 84.1 million, with 67% generated outside Finland.

Financial highlights

• Net sales: EUR 41.4 million, up 5% year-over-year.

• Comparable operating profit: EUR 5.3 million, up 19%, margin at 12.7%.

• EBITDA increased by 18% to EUR 7.8 million; comparable EBITDA up 17% to EUR 8.0 million.

• Net result for the period rose 25% to EUR 4.1 million; EPS up 25% to EUR 0.10.

• Cash and cash equivalents at period end: EUR 32.7 million.

Outlook and guidance

• Net sales for 2026 expected to grow from 2025 (EUR 189.6 million); comparable operating profit margin estimated at 16-19%.

• Fixed costs and marketing expenses expected to increase, with a stronger rise in Q2.

• International and Asia-Pacific sales projected to grow; 10-15 new stores planned, mainly in Asia.

• Licensing income forecasted to remain at previous year’s level.

• Significant volatility expected due to consumer confidence, purchasing power, geopolitics, and global trade policy.