Marimekko (MEKKO) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 3% to €52.1m and comparable operating profit increased 3% to €13.0m, supported by international growth and improved relative sales margin.

• International sales grew 16% in Q3, offsetting a 9% decline in Finland; 9M international sales grew 11% while Finland sales fell 6%.

Financial highlights

• Q3 operating profit was €12.7m versus €12.5m, net result €10.2m versus €9.9m; comparable operating profit was €13.0m versus €12.7m.

• 9M net sales rose 2% to €137.5m; operating profit was €22.6m versus €23.1m, comparable operating profit €23.4m versus €23.5m, and net result €17.9m versus €17.4m.

• 9M operating cash flow was €13.0m versus €12.1m; gross investments were €1.2m versus €2.2m.

• Q3 comparable operating profit included €0.3m of unfavorable comparability items; 9M included €0.8m, both employee benefit expenses.

Outlook and guidance

• FY26 net sales are expected to grow from €189.6m in 2025; comparable operating profit margin guidance remains 16%–19%, versus 17.1% in 2025.

• Finland net sales are expected to decline, while international and Asia-Pacific sales and licensing income are forecast to grow.

• Fixed costs and marketing expenses are expected to increase; 15–20 new stores and shop-in-shops are planned, mostly in Asia.

• Non-recurring Finnish wholesale promotional deliveries are expected to grow YoY, weighted to H2 and Q4; H2 traditionally generates a major portion of annual euro-denominated sales and operating result.

• Medium-term goals are annual net sales growth of 10% and comparable operating profit margin of 20%; long-term goals are 15% growth, 20% margin and net debt/EBITDA of max. 2.