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Marimekko profit misses consensus by 84.5% in Q2

Marimekko Oyj said its second-quarter normalized net income came to €25,000, a fall of 91.6% from €297,500 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.1% from 1.4% in the year-earlier period.

Total revenue grew 7.2% on an annual basis to €23.4 million from €21.9 million, and total operating expenses increased 8.4% on an annual basis to €23.2 million from €21.4 million.

Reported net income decreased 75.0% year over year to €90,000, or 1 cents per share, from €360,000, or 5 cents per share.