Published: 2009-05-13 08:00:00 CEST
Marimekko Corporation - Interim report (Q1 and Q3)
MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 31 MARCH 2009
Marimekko Corporation        INTERIM REPORT                                     
                             13 May 2009 at 9 a.m.                              

MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 31 MARCH 2009               

In the January-March period of 2009, the Marimekko Group's net sales fell by 13%
to EUR 16.3 million (EUR 18.6 million). Operating result decreased to EUR -0.02 
million (EUR 1.8 million). Profit after taxes for the financial period was EUR  
0.01 million (EUR 1.4 million) and earnings per share were EUR 0.00 (EUR 0.17). 
The earlier estimate for the financial year 2009 has been reduced. According to 
the current estimate, the Marimekko Group's net sales are forecast to decrease  
in 2009 by about 10% from the year 2008 and operating result is expected to     
decline distinctly.                                                             

                                 1-3/     1-3/    Change,    1-12/              
                                 2009     2008         %      2008              

Net sales, EUR 1,000           16,263   18,594     -12.5    81,107              
Exports and income from                                                         
 international operations,                                                      
 % of net sales                  33.1     34.3                27.0              
Operating result, EUR 1,000       -21    1,824    -101.2     9,956              
Profit before taxes,                                                            
 EUR 1,000                         13    1,847     -99.3     9,964              
Profit for the period, EUR 1,000   13    1,375     -99.1     7,378              
Earnings per share, EUR          0.00     0.17     -99.1      0.92              
Equity per share, EUR            3.92     3.83       2.5      3.92              
Return on equity (ROE), %        0.17     18.3                24.2              
Return on investment (ROI), %    0.03     24.3                32.3              
Equity ratio, %                  80.3     77.7                78.7              

Mika Ihamuotila, President and CEO:                                             

“The first quarter of the year 2009 was extremely challenging for Marimekko due 
to the difficult market situation. The Group's net sales declined and profit    
fell significantly. The sharp decline in consumer demand was reflected in sales 
both in Finland and abroad. The fall was particularly strong in sales to        
domestic and foreign retailers. Also, there were no one-off items similar to    
those recognised during the corresponding period of the previous year. In       
Marimekko-owned retail shops, we managed to increase our sales even more than   
expected due to various marketing actions. Strong growth also continued in our  
important export area, Japan, where sales were boosted by the opening of new    
concept stores.                                                                 

In addition to a considerable decline in sales, increased personnel expenses and
other operating expenses, most of which were higher-than-usual marketing costs  
for new collections, had a negative impact on earnings for the period.          

The outlook continues to be extremely uncertain since there are no clear signs  
of improvement in market conditions on the horizon. During this year, we will   
review the company's cost structure and improve the efficiency of our           
operations. Despite the difficult market situation, Marimekko will continue     
investing in product development and internationalisation.”                     

2009 calendar                                                                   
Marimekko Corporation's interim report for the January-June period of 2009 will 
be published on Thursday 13 August at 9 am, and the interim report for the      
January-September period on Thursday 5 November at 9 am.                        

For additional information, contact:                                            
Mika Ihamuotila, President and CEO, tel. +358 9 758 71                          
Thomas Ekström, CFO, tel. +358 9 758 7261                                       

MARIMEKKO CORPORATION                                                           
Group Communications                                                            

Marja Korkeela                                                                  
Tel. +358 9 758 7238                                                            
Fax +358 9 759 1676                                                             
Email: marja.korkeela@marimekko.fi                                              

DISTRIBUTION:                                                                   
NASDAQ OMX Helsinki Ltd                                                         
Principal media                                                                 
Marimekko's website www.marimekko.com                                           

Marimekko, established in 1951, is a leading Finnish textile and clothing design
company renowned for its original prints and colours. The company designs and   
manufactures high-quality clothing, interior decoration textiles, bags and other
accessories. Marimekko products are sold in over 40 countries. Products with    
Marimekko designs are also manufactured under licence in various countries. In  
2008, the company's net sales amounted to EUR 81.1 million. Exports and         
international operations accounted for 27.0% of the Group's net sales. The Group
employs about 410 people. The company's share is quoted on the NASDAQ OMX       
Helsinki Ltd.                                                                   


MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 31 MARCH 2009               

NET SALES                                                                       

In the January-March period of 2009, the Marimekko Group's net sales decreased  
by 12.5% to EUR 16,263 thousand (EUR 18,594 thousand). Net sales in Finland fell
by 11.0% to EUR 10,874 thousand (EUR 12,222 thousand). Exports and income from  
international operations decreased by 15.4% and totalled EUR 5,389 thousand (EUR
6,372 thousand). Exports and income from international operations accounted for 
33.1% (34.3%) of the Group's net sales. The fall in net sales was largely due to
a slowdown in demand caused by weak market conditions. Wholesale sales both in  
Finland and abroad were especially affected by the slowdown. The difference     
compared to the previous year was also increased by one-off orders for          
promotions during the corresponding period of 2008.                             

The breakdown of the Group's net sales by product line was as follows: clothing 
43.5%; interior decoration 38.1%; and bags 18.4%. Net sales by market area were:
Finland, 66.9%; the other Nordic countries, 10.4%; the rest of Europe, 8.0%;    
North America, 4.4%; and other countries (Japan and other regions outside Europe
and North America), 10.3%.                                                      

In the January-March period of 2009, the sales from Marimekko's own retail shops
increased by 8.9% (-3.8%). Sales to retailers in Finland decreased by 24.9%     
(+5.5%). The strong decline in sales from the comparison period was partly due  
to significant one-off orders for promotions recognised in the first quarter of 
2008.                                                                           

MARKET SITUATION                                                                

In the first quarter of 2009, the economic recession deepened and market demand 
fell considerably. The value of retail sales in Finland decreased by 3.6% from  
the corresponding period in 2008 (Statistics Finland: Retail trade quick        
estimate, March 2009). Retail sales of clothing (excluding sportswear) declined 
by 0.9% (Textile and Fashion Industries TMA). Sales of womenswear were at the   
level of the comparison period, sales of menswear decreased by 4.1%, and sales  
of childrenswear increased by 0.1%. Sales of bags declined by 0.4%. In the      
January-February period of 2009, exports of clothing (SITC 84) decreased by 16%,
while imports remained at the previous year's level. Exports of textiles (SITC  
65) fell by 32%; imports increased by 1%. (National Board of Customs, monthly   
review, February 2009).                                                         

According to Statistics Finland, consumer confidence in the economy has         
recovered somewhat. Expectations regarding the Finnish economy and employment in
particular remain weak but confidence in personal finances and saving           
opportunities has improved slightly (Statistics Finland: Consumer Barometer,    
April 2009).                                                                    

REVIEWS BY BUSINESS UNIT                                                        

Clothing                                                                        
In the January-March period of 2009, net sales of clothing decreased by 9.7% to 
EUR 7,078 thousand (EUR 7,838 thousand). Sales in Finland declined somewhat.    
Sales abroad fell significantly in all areas except Japan, where strong growth  
continued. The positive trend in Japanese sales was boosted by new concept      
stores. Exports and income from international operations accounted for 29.4% of 
net sales of clothing.                                                          

Interior decoration                                                             
Net sales of interior decoration products decreased by 18.5% to EUR 6,185       
thousand (EUR 7,588 thousand). In Japan, strong growth continued. Sales in other
export countries and Finland fell considerably. Exports and income from         
international operations accounted for 35.2% of net sales of interior decoration
products.                                                                       

Bags                                                                            
Net sales of bags decreased by 5.3% to EUR 3,000 thousand (EUR 3,168 thousand). 
Sales in Japan continued to grow vigorously.  Good growth also continued in the 
market area referred to as “the rest of Europe”. Sales in other export markets  
and Finland declined substantially. Exports and income from international       
operations accounted for 37.6% of the net sales of bags.                        

Business-to-business sales                                                      
Business-to-business sales fell by 40.3%. The decrease was partly due to        
significant one-off orders for promotions recognised in the first quarter of    
2008.                                                                           

Exports and international operations                                            
In the January-March period of 2009, Marimekko's exports and income from        
international operations decreased by 15.4% and totalled EUR 5,389 thousand (EUR
6,372 thousand). In Japan, strong growth continued, while in other countries    
where consumer demand declined sharply, sales fell significantly.               

In the market area referred to as “the other Nordic countries”, sales in all    
product lines decreased. Net sales declined to EUR 1,698 thousand, which was    
36.0% less than the previous year (EUR 2,654 thousand). In addition to a        
decrease in sales volumes, the weakening in the value of the Swedish krona      
contributed to the fall in net sales (approx. 20%).                             

In the market area referred to as “the rest of Europe”, net sales decreased by  
16.6% to EUR 1,302 thousand (EUR 1,562 thousand). Sales of bags continued to    
grow well, while sales of interior decoration products and clothing declined    
considerably.                                                                   

In North America, sales in all product lines decreased sharply. Net sales       
declined by 34.2% to EUR 722 thousand (EUR 1,098 thousand).                     

In the market area referred to as "other countries", net sales rose by 57.6%    
from the comparison period and totalled EUR 1,667 thousand (EUR 1,058 thousand).
The growth was entirely generated in Japan, where sales of all product lines    
increased vigorously. The opening of three new concept stores - one each in     
Niigata, Matsuyama and Kokura - accelerated growth. At the end of the review    
period, there were a total of eighteen Marimekko concept stores and             
shop-in-shops in Japan.                                                         

Licensing                                                                       
Royalty earnings from sales of licensed products grew substantially during the  
period. The increase was strongest in the United States. New licensing contracts
partly contributed to the growth in royalty earnings.                           

Production and sourcing                                                         
In the January-March period of 2009, the production volume of the Herttoniemi   
textile printing factory decreased by 42%. This was mostly due to reduction of  
inventories and collections. At the Kitee and Sulkava factories, the company    
managed to maintain production at the same level as in the corresponding period 
of the previous year. Subcontracting was decreased concerning certain products, 
and production was transferred to the Kitee and Sulkava factories.              

EARNINGS                                                                        

In the January-March period of 2009, the Group's operating result decreased by  
101.2% to EUR -21 thousand (EUR 1,824 thousand). Operating result as a          
percentage of net sales was -0.1% (9.8%). Marketing expenses for the period grew
by 45.5% and totalled EUR 1,104 thousand (EUR 759 thousand), representing 6.8%  
(4.1%) of the Group's net sales.                                                

The Group's depreciation amounted to EUR 350 thousand (EUR 392 thousand),       
representing 2.2% (1.8%) of net sales. Net financial income totalled EUR 34     
thousand (EUR 23 thousand), or 0.2% (0.1%) of net sales.                        

Profit for the period after taxes decreased by 99.1% to EUR 13 thousand (EUR    
1,375 thousand), representing 0.1% (7.4%) of net sales. Earnings per share were 
EUR 0.00 (EUR 0.17).                                                            

Earnings for the period were weakened by a considerable decline in sales,       
increased personnel expenses and other operating expenses, a significant part of
which were higher-than-usual marketing costs for new collections launched during
the period. Full-year marketing expenses will remain at the 2008 level.         

INVESTMENTS                                                                     

The Group's gross investments amounted to EUR 188 thousand (EUR 137 thousand),  
representing 1.2% (0.7%) of net sales. The majority of investments were made in 
the refurbishment of shops, as well as in furniture purchases and renovation of 
the Herttoniemi property.                                                       

EQUITY RATIO AND FINANCING                                                      

The equity ratio of the Group was 80.3% at the end of the period (77.7% on 31   
March 2008, 78.7% on 31 December 2008). The ratio of interest-bearing           
liabilities minus financial assets to shareholders' equity (gearing) was -16.8%,
while it was -7.5% at the end of the corresponding period in the previous year  
(-18.8% on 31 December 2008).                                                   

At the end of the period, the Group's financial liabilities amounted to EUR 185 
thousand (EUR 841 thousand). The Group's financial assets at the end of the     
period were EUR 5,478 thousand (EUR 3,163 thousand).                            

SHARES AND SHARE PRICE TREND                                                    

Share capital                                                                   
At the end of the period, the company's fully paid-up share capital, as recorded
in the Trade Register, amounted to EUR 8,040,000, and the number of shares      
totalled 8,040,000.                                                             

Shareholdings                                                                   
According to the book-entry register, Marimekko had 6,526 (5,680) shareholders  
at the end of the period. A total of 14.8% of the shares were registered in a   
nominee's name and 15.8% were in foreign ownership. At the end of the period,   
the number of shares owned either directly or indirectly by members of the Board
of Directors and the President of the company was 1,088,399, representing 13.5% 
of the total share capital and of the votes conferred by the company's shares.  

The largest shareholders according to the book-entry register on 31 March 2009  

                                    Number of        Percentage of              
                             shares and votes    holding and votes              

1.  Muotitila Ltd                   1,045,200                13.00              
2.  Fautor S.P.R.L.                   850,377                10.58              
3.  ODIN Forvaltning AS               413,253                 5.14              
4.  Varma Mutual Employment                                                     
    Pension Insurance Company         385,920                 4.80              
5.  Ilmarinen Mutual                                                            
    Pension Insurance Company         265,419                 3.30              
6.  Veritas Pension Insurance                                                   
    Company Ltd.                      220,000                 2.74              
7.  Evli Select Fund                  130,054                 1.62              
8.  Sairanen, Seppo                    71,379                 0.89              
9.  Nacawi Ab                          60,300                 0.75              
10. Foundation for                                                              
    Economic Education                 50,000                 0.62              
11. Scanmagnetics Oy                   40,000                 0.50              
12. Mutual Fund Nordea Nordic                                                   
    Small Cap                          39,275                 0.49              
13. Mutual Fund Tapiola Finland        35,000                 0.44              
14. Fromond, Elsa                      32,200                 0.40              
15. Westerberg, Olof                   30,000                 0.37              
Total                               3,668,377                45.64              
Nominee-registered                  1,188,506                14.78              
Others                              3,183,117                39.58              
Total                               8,040,000               100.00              

Flaggings                                                                       
The share of Workidea Oy, a company controlled by Kirsti Paakkanen, of Marimekko
Corporation's share capital and voting rights decreased to 0.00%, or 0 shares,  
as a result of a transaction concluded on 8 January 2009.                       

Authorisations                                                                  
At the end of the review period, the Board of Directors had no valid            
authorisations to carry out share issues or issue convertible bonds or bonds    
with warrants, or to acquire or surrender Marimekko shares.                     

Share trading                                                                   
During the review period, a total of 956,171 Marimekko shares were traded,      
representing 11.9% of the shares outstanding. The total value of Marimekko's    
share turnover was EUR 8,556,206. The lowest price of the Marimekko share was   
EUR 7.50, the highest was EUR 10.00, and the average price was EUR 8.50. At the 
end of the review period, the final price of the share was EUR 8.20. The        
company's market capitalisation on 31 March 2009 was EUR 65,928,000 (EUR        
121,806,000 on 31 March 2008, EUR 67,134,000 on 31 December 2008).              

PERSONNEL                                                                       

During the January-March period of 2009, the number of employees averaged 411   
(413). At the end of the period, the Group employed 407 (412) people, of whom 14
(17) worked abroad.                                                             

CHANGES IN THE COMPANY'S MANAGEMENT                                             

Kirsi Räikkönen, the Group's Marketing Director and member of the Management    
Group, resigned from the company on 28 February 2009. As of 1 March 2009, the   
composition of the company's Management Group is as follows: Mika Ihamuotila as 
Chairman with members Thomas Ekström (finance and administration), Marja        
Korkeela (Group communications and investor relations), Päivi Lonka (exports and
licensing sales), Mervi Metsänen-Kalliovaara (domestic wholesale,               
business-to-business sales, sales development), Niina Nenonen (clothing and     
accessories), Piia Rossi (company-owned retail stores) and Helinä Uotila        
(production, purchases, and interior decoration).                               

RISK MANAGEMENT AND MAJOR RISKS                                                 

The Marimekko Group's risk management is based on the risk management policy    
confirmed by the company's Board of Directors. The policy defines the           
principles, objectives and responsibilities of risk management, as well as the  
organisation and supervision of the risk management process. The Board of       
Directors also monitors the implementation of the Group's risk management. Risk 
reporting is part of the company's regular, continuous business reporting.      
Marimekko's risk management policy and the major risks to the company's business
operations have been detailed in the 2008 Annual Report and Financial           
Statements.                                                                     

The main risks for Marimekko's business are associated with general economic    
development and the consequent increased uncertainty of the operating           
environment. The decline in consumption demand has negatively affected the      
development of sales on all markets and increased uncertainty in the company's  
growth and profit development. In addition, possible economic difficulties      
experienced by customers and cooperation partners may increase the Group's      
economic risks, which are related to customers' liquidity and availability of   
products. During the review period, no significant changes have occurred in     
credit losses or customers' paying behaviour.                                   

Operational risk management emphasises ensuring core competence related to      
business development and product design as well as management of processes      
pertaining to key activities.                                                   

In order to manage the risks, the monitoring of business activities and costs   
has been made more effective.                                                   

RESEARCH AND DEVELOPMENT                                                        

Marimekko's product planning and development costs arise from the design of     
collections. Design costs are recorded in expenses.                             

THE ENVIRONMENT, HEALTH AND SAFETY                                              

Responsibility for the environment and nature is an integral aspect of          
Marimekko's business. In environmental matters, the company's business          
supervision is largely based on legislation and other regulations. The framework
for Marimekko's social responsibility reporting is provided by the G3 guidelines
of the Global Reporting Initiative (GRI). Detailed information on environmental 
issues and their reporting can be found in the 2008 Annual Report.              

MARIMEKKO-OWNED RETAIL SHOP AND SUBSIDIARY IN THE UNITED KINGDOM                
                                                                                
At the end of March 2009, Marimekko established a subsidiary in the UK,         
Marimekko UK Ltd, to administer the operations of the Marimekko store in London.
The store was acquired from Skandium Ltd on 1 April 2009.                       

MAJOR EVENTS AFTER THE CLOSE OF THE REVIEW PERIOD                               

Decisions of the Annual General Meeting                                         
Marimekko Corporation's Annual General Meeting, held on 8 April 2009, adopted   
the company's financial statements for 2008 and discharged the President and    
members of the Board from liability. The Annual General Meeting approved the    
Board of Directors' proposal for a dividend payment of EUR 0.55 per share for   
the 2008 financial year, totalling EUR 4,422,000.00. The dividend payout record 
date was 15 April 2009, and the dividend payout date 22 April 2009.             

The Annual General Meeting confirmed that the company's Board of Directors shall
have five (5) members. Ami Hasan, Mika Ihamuotila, Joakim Karske, Pekka Lundmark
and Tarja Pääkkönen were re-elected to the Board of Directors. The term of      
office for the Board runs until the end of the next Annual General Meeting. At  
its organisation meeting held after the Annual General Meeting, the Board of    
Directors elected Pekka Lundmark as Chairman and Mika Ihamuotila as Vice        
Chairman of the Board.                                                          

The Annual General Meeting re-elected PricewaterhouseCoopers Oy, Authorised     
Public Accountants, as the company's regular auditor, with Kim Karhu, Authorised
Public Accountant, as chief auditor. It was decided that the auditors' fee would
be paid as per invoice.                                                         

Amendment of the Articles of Association                                        
The Annual General Meeting approved the Board of Directors' proposal to amend   
the Articles 3, 4, 5, 6, 8, 9, 11, 12 and 13 of Marimekko Corporation's Articles
of Association. The amendments have been detailed in the Notice of the Annual   
General Meeting published on 16 March 2009. The Articles of Association approved
at the Annual General Meeting are appended to the stock exchange release dated 8
April 2009.                                                                     

Flaggings                                                                       
As a result of a transaction made on 8 April 2009, Barclays Capital Securities  
Limited's share of Marimekko Corporation's share capital and voting rights rose 
to 6.09%, or 490,00 shares; and then fell to 0.00%, or 0 shares, as a result of 
a transaction made on 14 April 2009.                                            

OUTLOOK FOR THE REMAINDER OF 2009                                               

Marimekko Corporation operates in a field where economic trends affect its      
business activities. The majority of the Group's net sales come from Finland. In
recent years, however, exports have increasingly been driving Marimekko's net   
sales growth. A significant part of the growth has been attributable to the     
acquisition of new customers and the opening of concept stores. In 2008, the    
Group's earnings and growth in net sales were largely attributable to           
significant individual promotional deliveries in Finland and one-off income from
sales of licensed products.                                                     

In the first quarter of 2009, Marimekko's net sales decreased and profit fell   
considerably due to a sharp decline in demand caused by the economic recession. 
The weak market situation continues and there are not yet any signs of a quick  
recovery. According to the company's current knowledge, there will neither be   
similar significant one-off items to improve net sales and profit in the        
financial year as there were in 2008. For the above reasons, the company's      
previous estimate, according to which the Group's net sales for the 2009        
financial year were expected to decrease by 5-10% and operating profit to       
decline considerably, has been reduced. The company's current estimate, based on
the market outlook, business development in the early part of the year and the  
expense structure of the company, is that the Group's net sales in the financial
year 2009 will decrease by about 10% and the operating result will decline      
distinctly compared with 2008.                                                  

Helsinki, 13 May 2009                                                           

MARIMEKKO CORPORATION                                                           
Board of Directors                                                              

Information presented in the Interim Report has not been audited.               

APPENDICES                                                                      
Accounting principles                                                           
Consolidated income statement and comprehensive consolidated income statement   
Consolidated balance sheet                                                      
Consolidated cash flow statement                                                
Consolidated statement of changes in shareholders' equity                       
Key indicators                                                                  
Consolidated net sales by market area and product line                          
Segment information                                                             
Quarterly trend in net sales and earnings                                       

Accounting principles                                                           
This interim report has been prepared in accordance with IAS 34:                
Interim Financial Reporting and applying the same accounting policy as for the  
2008 financial statements. In addition, on 1 January 2009 the Group adopted the 
following new or amended standards published by the IASB in 2008:               

IAS 1 standard (amended)                                                        
In accordance with the amended IAS 1 standard, Marimekko Corporation presents   
both the consolidated and comprehensive consolidated income statements.         

IFRS 8                                                                          
The operational segment reported by the Marimekko Group is the Marimekko        
business.                                                                       

FORMULAS FOR THE KEY FIGURES                                                    

Earnings per share (EPS), EUR:                                                  
(Profit before extraordinary items - taxes (excl. of taxes on extraordinary     
items)) / Number of shares (average for the financial period)                   

Equity per share, EUR:                                                          
Shareholders' equity / Number of shares, 31 March                               

Return on equity (ROE), %:                                                      
(Profit before extraordinary items - taxes (excl. of taxes on extraordinary     
items)) X 100 / Shareholders' equity (average for the financial period)         

Return on investment (ROI), %:                                                  
(Profit before extraordinary items + interest and other financial expenses) X   
100 / (Balance sheet total - non-interest-bearing liabilities (average for the  
financial period))                                                              

Equity ratio, %:                                                                
Shareholders' equity X 100 / (Balance sheet total - advances received)          

Gearing, %:                                                                     
Interest-bearing net debt X 100 / Shareholders' equity                          


CONSOLIDATED INCOME STATEMENT                                                   

(EUR 1,000)                    1-3/       1-3/   Change,     1-12/              
                               2009       2008         %      2008              

NET SALES                    16,263     18,594     -12.5    81,107              
Other operating income           23         10     130.0       244              
Increase or decrease                                                            
 in inventories of                                                              
 completed and                                                                  
 unfinished products            194      1,861     -89.6       185              
Raw materials and                                                               
 consumables                  6,809      9,217     -26.1    33,597              
Employee benefit expenses     4,535      4,422       2.6    18,287              
Depreciation                    350        329       6.4     1,324              
Other operating expenses      4,807      4,673       2.9    18,372              

OPERATING LOSS/PROFIT           -21      1,824    -101.1     9,956              

Financial income                 24         53     -54.7       205              
Financial expenses               10        -30    -133.3      -197              
                                 34         23      47.8         8              

PROFIT BEFORE TAXES              13      1,847     -99.3     9,964              

Income taxes                      -        472    -100.0     2,586              

NET INCOME FOR THE PERIOD        13      1,375     -99.1     7,378              

Distribution of net income                                                      
 to equity holders of                                                           
 the parent company              13      1,375               7,378              

Basic and diluted                                                               
 earnings per share                                                             
 calculated on the                                                              
 profit attributable                                                            
 to equity holders of                                                           
 the parent company, EUR       0.00       0.17                0.92              


COMPREHENSIVE CONSOLIDATED INCOME STATEMENT                                     

(EUR 1,000)                         1-3/        1-3/         1-12/              
                                    2009        2008          2008              

Net income for the period             13       1,375         7,378              
Other comprehensive income                                                      
 Change in translation                                                          
 difference                           -4           -            -5              

TOTAL COMPREHENSIVE INCOME                                                      
FOR THE PERIOD                         9       1,375         7,373              

Distribution of net income                                                      
 to equity holders of                                                           
 the parent company                    9       1,375         7,373              


CONSOLIDATED BALANCE SHEET                                                      

(EUR 1,000)                     31.3.2009   31.3.2008   31.12.2008              

ASSETS                                                                          

NON-CURRENT ASSETS                                                              
Tangible assets                     9,811       9,761        9,948              
Intangible assets                     434         415          458              
Available-for-sale                                                              
financial assets                       20          20           20              
                                   10,265      10,196       10,426              

CURRENT ASSETS                                                                  
Inventories                        16,735      19,076       17,286              
Trade and other receivables         6,618       7,162        6,109              
Current tax assets                    268         220          268              
Cash and cash equivalents           5,478       3,163        6,112              
                                   29,099      29,621       29,775              

ASSETS, TOTAL                      39,364      39,817       40,201              

SHAREHOLDERS' EQUITY                                                            
AND LIABILITIES                                                                 

EQUITY ATTRIBUTABLE TO EQUITY                                                   
HOLDERS OF THE PARENT COMPANY                                                   
Share capital                       8,040       8,040        8,040              
Translation differences                -6           3           -2              
Retained earnings                  23,517      22,727       23,504              
Shareholders' equity, total        31,551      30,770       31,542              

NON-CURRENT LIABILITIES                                                         
Deferred tax liabilities              705         705          705              
Financial liabilities                   -         185            -              
                                      705         890          705              
CURRENT LIABILITIES                                                             
Trade and other payables            6,905       7,483        7,751              
Current tax liabilities                18          18           18              
Financial liabilities                 185         656          185              
                                    7,108       8,157        7,954              

Liabilities, total                  7,813       9,047        8,659              

SHAREHOLDERS' EQUITY AND                                                        
LIABILITIES, TOTAL                 39,364      39,817       40,201              

The Group has no liabilities resulting from derivative contracts, and there are 
no outstanding guarantees or any other contingent liabilities which have been   
granted on behalf of the management of the company or its shareholders.         


CONSOLIDATED CASH FLOW STATEMENT                                                

(EUR 1,000)                              1-3/      1-3/      1-12/              
                                         2009      2008       2008              

CASH FLOW FROM OPERATING ACTIVITIES                                             

Net profit for the period                  13     1,376      7,378              
Adjustments                                                                     
 Depreciation according to plan           350       329      1,324              
 Financial income and expenses            -35       -23         -8              
 Taxes                                      -       472      2,586              
Cash flow before change                                                         
 in working capital                       328     2,154     11,280              

Change in working capital                -179    -3,764       -629              
 Increase (-) / decrease (+) in current                                         
 non-interest-bearing trade receivables   122    -1,660       -574              
 Increase (-) / decrease (+) in                                                 
 inventories                              551      -797        995              
 Increase (-) / decrease (+) in                                                 
 current non-interest-bearing                                                   
 liabilities                             -852    -1,307     -1,050              
Cash flow from operating activities                                             
 before financial items and taxes         149    -1,610     10,651              

Paid interest and payments on                                                   
 other financial expenses                  11       -20       -200              
Interest received                          56        83        201              
Taxes paid                               -663      -472     -2,616              

CASH FLOW FROM OPERATING ACTIVITIES      -447    -2,019      8,036              

CASH FLOW FROM INVESTING ACTIVITIES                                             

Investments in tangible                                                         
 and intangible assets                   -188      -137     -1,362              

CASH FLOW FROM INVESTING ACTIVITIES      -188      -137     -1,362              

CASH FLOW FROM FINANCING ACTIVITIES                                             

Short-term loans drawn                      -         -      4,600              
Short-term loans repaid                     -      -950     -5,550              
Long-term loans repaid                      -         -       -655              
Dividends paid                              -         -     -5,226              

CASH FLOW FROM FINANCING ACTIVITIES         -      -950     -6,831              

Change in cash and cash equivalents      -635    -3,106       -157              

Cash and cash equivalents                                                       
 at the beginning of the period         6,112     6,269      6,269              
Cash and cash equivalents                                                       
 at the end of the period               5,478     3,163      6,112              


CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY                       

(EUR 1,000)                                                                     

       Equity attributable to equity holders of the parent company              

                                                     Shareholders'              
                    Share   Translation   Retained         equity,              
                  capital   differences   earnings           total              

Shareholders'                                                                   
 equity                                                                         
 1 Jan. 2008        8,040             3     21,352          29,395              

Comprehensive                                                                   
 income for the                                                                 
 period                                      1,375           1,375              

Dividends paid                                   -               -              

Shareholders'                                                                   
 equity                                                                         
 31 March 2008      8,040             3     22,727          30,770              


Shareholders'                                                                   
 equity                                                                         
 1 Jan. 2009        8,040            -2     23,504          31,542              

Comprehensive                                                                   
 income for the                                                                 
 period                              -4         13               9              

Dividends paid                                   -               -              

Shareholders'                                                                   
 equity                                                                         
 31 March 2009      8,040            -6     23,517          31,551              


KEY INDICATORS                                                                  

                                1-3/      1-3/    Change,    1-12/              
                                2009      2008          %     2008              

Earnings per share, EUR         0.00      0.17      -99.1     0.92              
Equity per share, EUR           3.92      3.83        2.5     3.92              
Share of exports and                                                            
 international operations,                                                      
 % of net sales                 33.1      34.3                27.0              
Return on equity (ROE), %       0.17      18.3                24.2              
Return on investment (ROI), %   0.03      24.3                32.3              
Equity ratio, %                 80.3      77.7                78.7              
Gearing, %                     -16.8      -7.5               -18.8              
Gross investments, EUR 1,000     188       137               1,362              
Gross investments,                                                              
 % of net sales                  1.2       0.7                 1.7              
Contingent liabilities,                                                         
 EUR 1,000                     18,056   17,388              17,861              
Average personnel                 411      413       -0.5      411              
Personnel at the end of                                                         
 the period                       407      412       -1.2      414              
Number of shares at the end                                                     
 of the period (1,000)          8,040    8,040               8,040              
Number of shares outstanding,                                                   
 average (1,000)                8,040    8,040               8,040              


NET SALES BY MARKET AREA                                                        

(EUR 1,000)                      1-3/     1-3/    Change,    1-12/              
                                 2009     2008          %     2008              

Finland                        10,874   12,222      -11.0   59,175              
Other Nordic countries          1,698    2,654      -36.0    9,423              
Rest of Europe                  1,302    1,562      -16.6    4,700              
North America                     722    1,098      -34.2    3,994              
Other countries                 1,667    1,058       57.6    3,815              
TOTAL                          16,263   18,594      -12.5   81,107              

NET SALES BY PRODUCT LINE                                                       

(EUR 1,000)                      1-3/      1-3/   Change,    1-12/              
                                 2009      2008         %     2008              

Clothing                        7,078     7,838      -9.7   29,898              
Interior decoration             6,185     7,588     -18.5   37,747              
Bags                            3,000     3,168      -5.3   13,462              
TOTAL                          16,263    18,594     -12.5   81,107              


SEGMENT INFORMATION                                                             

(EUR 1,000)             1-3/2009   1-3/2008   Change, %  1-12/2008              

Marimekko business                                                              
 Net sales                16,263     18,594       -12.5     81,107              
 Assets                   39,364     39,817        -1.1      0,201              
 Investments                 188        137        37.2      1,362              

QUARTERLY TREND IN NET SALES AND EARNINGS                                       

(EUR 1,000)                 1-3/     10-12/        7-9/       4-6/              
                            2009       2008        2008       2008              

Net sales                 16,263     22,061      21,913     18,539              
Operating result             -21      1,845       3,747      2,540              
Earnings per share, EUR     0.00       0.17        0.35       0.23              

(EUR 1,000)                 1-3/     10-12/        7-9/       4-6/              
                            2008       2007        2007       2007              

Net sales                 18,594     22,656       20,699    16,997              
Operating result           1,824      3,382        3,965     1,643              
Earnings per share, EUR     0.17       0.31         0.36      0.15


marimekko_interim report_q1_2009.pdf