Published: 2009-08-13 08:00:00 CEST
Marimekko Corporation - Interim report (Q1 and Q3)
MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 30 JUNE 2009
Marimekko Corporation        INTERIM REPORT                                     
                             13 August 2009 at 9 a.m.                           

MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 30 JUNE 2009                

In the January-June period of 2009, the Marimekko Group's net sales decreased by
13% to EUR 32.3 million (EUR 37.1 million). Operating profit fell to EUR 1.0    
million (EUR 4.4 million). Profit after taxes for the financial period was EUR  
0.8 million (EUR 3.2 million) and earnings per share were EUR 0.10 (EUR 0.40).  
The full-year estimate for 2009 is unchanged: net sales are forecast to decrease
by about 10% from the year 2008 and operating result is expected to decline     
distinctly.                                                                     

                                1-6/      1-6/     Change,   1-12/              
                                2009      2008          %     2008              

Net sales, EUR 1,000          32,262    37,133      -13.1   81,107              
Exports and income from                                                         
 international operations,                                                      
 % of net sales                 31.8      31.0                27.0              
Operating profit, EUR 1,000    1,037     4,364      -76.2    9,956              
Profit before taxes,                                                            
 EUR 1,000                     1,084     4,378      -75.2    9,964              
Profit for the period,                                                          
 EUR 1,000                       802     3,237      -75.2    7,378              
Earnings per share, EUR         0.10      0.40      -75.0     0.92              
Equity per share, EUR           3.47      3.40        2.1     3.92              
Return on equity (ROE), %        5.4      22.8                24.2              
Return on investment (ROI), %    7.3      28.1                32.3              
Equity ratio, %                 77.8      67.2                78.7              

Mika Ihamuotila, President and CEO:                                             

“Market conditions remained challenging in the second quarter of 2009. The      
Group's net sales decreased and earnings weakened significantly during the      
period under review. The sharp decline in consumer demand reduced Marimekko's   
sales both in Finland and abroad. In addition to the fall in sales, the         
difference in relation to the comparison period was increased by revenues from  
individual promotions and one-off income from sales of licensed products        
recognised in the corresponding period in 2008.                                 

The weaker demand particularly affected sales to domestic and foreign retailers.
The sales from Marimekko's own retail shops were at the level of the comparison 
period. Japan was a positive exception in the market trend, showing extremely   
high growth, boosted by new shops. Sales declined in other key export markets   
and in Finland.                                                                 

The outlook is still uncertain. The situation varies in different markets, but  
there are no clear signs of improvement on the horizon so far. However, we will 
continue investing in product development and internationalisation. During the  
current year, we have reviewed our cost structure and taken steps for           
improvement. We will continue our actions aimed at lowering fixed costs to      
ensure the company's profitability and steady business development.”            

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

All of Marimekko's stock exchange releases are available on the company's       
website www.marimekko.com under Investors/                                      
Stock releases.                                                                 

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 - 30 JUNE 2009                

NET SALES                                                                       

April-June                                                                      
In the April-June period of 2009, the Marimekko Group's net sales decreased by  
13.7% to EUR 15,999 thousand (EUR 18,539 thousand). In Finland, net sales fell  
by 17.1% to EUR 11,116 thousand (EUR 13,415 thousand). Exports and income from  
international operations fell by 4.7%, totalling EUR 4,883 thousand (EUR 5,124  
thousand).                                                                      

January-June                                                                    
In the January-June period of 2009, the Marimekko Group's net sales fell by     
13.1% to EUR 32,262 thousand (EUR 37,133 thousand). Net sales in Finland        
decreased by 14.2% to EUR 21,990 thousand (EUR 25,637 thousand). Exports and    
income from international operations fell by 10.6%, totalling EUR 10,272        
thousand (EUR 11,496 thousand). Exports and income from international operations
accounted for 31.8% (31.0%) 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 in relation to the comparison period was also increased by revenues  
from individual promotions and one-off income from sales of licensed products in
the corresponding period of the previous year.                                  

The breakdown of the Group's net sales by product line was as follows: clothing 
42.0%; interior decoration 40.1%; and bags 17.9%. Net sales by market area were:
Finland 68.2%; the other Nordic countries 10.2%; the rest of Europe 7.6%; North 
America 4.8%; and other countries (Japan and other regions outside Europe and   
North America) 9.2%.                                                            

During the January-June period of 2009, the sales from Marimekko's own retail   
shops in Finland increased by 0.8% (0.7%). Sales to retailers in Finland        
decreased by 22.3% (-0.8%). The sharp decrease in sales from the comparison     
period was partly due to significant one-off orders for promotions in the first 
quarter of 2008.                                                                

MARKET SITUATION                                                                

The downtrend in the economy during the first half of 2009 was more severe than 
expected. The situation in Finland is still bleak. The economic outlook for the 
second half of the year is slightly brighter, but no signs of recovery are      
visible as yet. During the remainder of the year, the downtrend in production   
and sales is expected to continue in most sectors, and employment is expected to
decline considerably. The global market trend indicators have continued to rise,
and a more optimistic attitude has spread since the spring. However, the world  
economy is estimated to decrease significantly during the current year.         
(Confederation of Finnish Industries EK: Business Tendency Survey, August 2009).

The economic conditions for the textile and clothing industry are very bleak,   
and no rapid improvement is expected. The conditions for trade have weakened    
throughout the current year, and the downtrend is estimated to continue during  
the remainder of the year. (Confederation of Finnish Industries EK: Business    
Tendency Survey, August 2009). In the January-June period of 2009, the Finnish  
retail trade decreased by 3.4% (Statistics Finland: Retail trade quick estimate,
June 2009). Retail sales of clothing (excluding sportswear) decreased by 2.1%   
(Textile and Fashion Industries TMA). Sales of wWomenswear fell by 1.2%, sales  
of menswear by 5.2%, and sales of childrenswear by 0.9%. Sales of bags declined 
by 7.1% and sales of home textiles by 11.3%. In the January-May period of 2009, 
exports of clothing (SITC 84) fell by 19% and imports by 6%; exports of textiles
(SITC 65) decreased by 26% and imports by 28% (National Board of Customs,       
monthly review, May 2009).                                                      

REVIEWS BY BUSINESS UNIT                                                        

Clothing                                                                        
In the January-June period of 2009, net sales of clothing declined by 11.7% to  
EUR 13,560 thousand (EUR 15,351 thousand). In Finland and the market area       
referred to as “the rest of Europe”, sales decreased slightly. In North America 
and the market area referred to as “the other Nordic countries”, sales fell     
significantly. In contrast, extremely vigorous growth continued in Japan.       
Exports and income from international operations accounted for 24.7% of net     
sales of clothing.                                                              

Interior decoration                                                             
Net sales of interior decoration products decreased by 13.5% to EUR 12,938      
thousand (EUR 14,965 thousand). In Japan, strong growth continued. In North     
America and the market area referred to as "the rest of Europe”, sales declined 
slightly. Sales in Finland and the other Nordic countries continued to decrease 
substantially. Exports and income from international operations accounted for   
37.1% of net sales of interior decoration products.                             

Bags                                                                            
Net sales of bags decreased by 15.4% to EUR 5,764 thousand (EUR 6,817 thousand).
In Japan, sales 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 decreased considerably. Exports and income from international       
operations accounted for 36.8% of net sales of bags.                            

Business-to-business sales                                                      
Business-to-business sales declined by 58.0%. The decrease was mainly due to    
significant one-off orders for promotions recognised in the corresponding period
in 2008. The continuing downtrend in the economy during the current year has    
also significantly reduced purchases by corporate clients.                      

Exports and international operations                                            
Uncertainty about economic conditions continued, and consumer demand declined   
further in almost all export markets. During the January-June period of 2009,   
Marimekko's exports and income from international operations decreased by 10.6%,
totalling EUR 10,272 thousand (EUR 11,496 thousand). In Japan, the extremely    
positive trend continued and sales growth was significantly higher than         
expected. Sales increased slightly in the market area referred to as “the rest  
of Europe”. In other export markets, sales declined. Japan became the largest   
export country during the review period, the other major countries for exports  
being Sweden, the United States, Denmark and Norway.                            

In the market area referred to as “the other Nordic countries”, sales in all    
product lines decreased substantially. Net sales fell to EUR 3,288 thousand,    
which was 37.3% less than the previous year (EUR 5,248 thousand). In addition to
a decrease in sales volumes, the weakening in the value of the Swedish krona    
(approx. 20%) as well as one-off income from licensed products recognised in the
comparison period contributed to the fall in net sales.                         

In the market area referred to as “the rest of Europe”, net sales increased by  
0.7% to EUR 2,469 thousand (EUR 2,451 thousand). Sales of bags continued to grow
well; sales of clothing and interior decoration products decreased slightly.    

In North America, net sales fell by 18.3% to EUR 1,563 thousand (EUR 1,913      
thousand). Sales of clothing and bags declined significantly, while sales of    
interior decoration products fell only slightly.                                

In the market area referred to as "other countries", net sales rose from the    
comparison period by 56.7%, totalling EUR 2,952 thousand (EUR 1,884 thousand).  
This growth was entirely generated in Japan, where sales of all product lines   
rose extremely vigorously. The growth was attributable to both increased sales  
in existing concept shops and the opening of three new stores during the first  
quarter of the year. At the end of June 2009, there were a total of eighteen    
Marimekko concept shops and shop-in-shops in Japan.                             

Licensing                                                                       
Royalty earnings from sales of licensed products decreased considerably during  
the period. The difference compared to the previous year was entirely due to    
one-off income from licensing cooperation with H & M Hennes & Mauritz AB        
recognised in the second quarter of 2008. In the review period, royalty earnings
in the United States grew extremely vigorously; a slight increase was seen in   
Finland.                                                                        

Production and sourcing                                                         
During the January-June period of 2009, the production volume of the Herttoniemi
textile printing factory decreased by 28%. This was mostly due to the reduction 
of inventories and collections. The old printing machine in the Herttoniemi     
factory was taken out of use in June. Production continues with the printing    
machine acquired in 2004. Production volumes at the Kitee and Sulkava factories 
remained 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 Group's own factories.                                       

EARNINGS                                                                        

April-June                                                                      
In the April-June period of 2009, the Group's operating profit fell by 58.4% on 
the comparison period, amounting to EUR 1,058 thousand (EUR 2,540 thousand).    
Earnings per share were EUR 0.10 (EUR 0.23). In addition to a decline in sales, 
the difference in relation to the comparison period was attributable to revenues
from individual promotions and significant one-off income from sales of licensed
products in the corresponding period of 2008.                                   

January-June                                                                    
In the January-June period of 2009, the Group's operating profit declined by    
76.2% to EUR 1,037 thousand (EUR 4,364 thousand). Operating profit as a         
percentage of net sales amounted to 3.2% (11.8%). Marketing expenses for the    
period totalled EUR 1,724 thousand (EUR 1,667 thousand), representing 5.3%      
(4.5%) of net sales.                                                            

The Group's depreciation amounted to EUR 697 thousand (EUR 655 thousand),       
representing 2.2% (1.8%) of net sales. Net financial income totalled EUR 47     
thousand (EUR 14 thousand), or 0.2% (0.0%) of net sales.                        

Profit for the period after taxes decreased by 75.2% to EUR 802 thousand (EUR   
3,237 thousand), representing 2.5% (8.7%) of net sales. Earnings per share were 
EUR 0.10 (EUR 0.40).                                                            

Earnings for the period were affected by a sharp decline in sales. In addition, 
the difference in relation to the comparison period was increased by revenues   
from individual promotions and significant one-off income from sales of licensed
products in the corresponding period 2008.                                      

INVESTMENTS                                                                     

The Group's gross investments amounted to EUR 521 thousand (EUR 368 thousand),  
representing 1.6% (1.0%) of net sales. The majority of investments were made in 
the refurbishment of shops and renovation of the Herttoniemi property.          

EQUITY RATIO AND FINANCING                                                      

The equity ratio of the Group was 77.8% at the end of the period (67.2% on 30   
June 2008, 78.7% on 31 December 2008). The ratio of interest-bearing liabilities
minus financial assets to shareholders' equity (gearing) was -8.1%, while it was
2.6% 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 stood at EUR 0 (EUR 
4,970 thousand). The Group's financial assets at the end of the period amounted 
to EUR 2,258 thousand (EUR 4,251 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 6,729 (5,877) shareholders  
at the end of the period. 11.8% of the shares were registered in a nominee's    
name and 18.0% 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 30 June 2009   

                                    Number of        Percentage of              
                             shares and votes    holding and votes              

1.  Muotitila Ltd                   1,045,200                13.00              
2.  Semerca Investment Ltd            850,377                10.58              
3.  ODIN Finland                      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.  Nordea Nordenfonden               173,106                 2.15              
8.  Evli Select Fund                  150,054                 1.87              
9.  Sairanen, Seppo                    71,379                 0.89              
10. Nacawi Ab                          60,300                 0.75              
11. Foundation for                                                              
    Economic Education                 50,000                 0.62              
12. Mutual Fund Tapiola Finland        50,000                 0.62              
13. Scanmagnetics Oy                   40,000                 0.50              
14. Mutual Fund Nordea Nordic                                                   
    Small Cap                          38,904                 0.48              
15. Haapanala, Auvo                    33,000                 0.41              
Total                               3,846,912                47.85              
Nominee-registered                  1,456,800                11.84              
Others                              2,736,288                40.31              
Total                               8,040,000               100.00              

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.                                            

Fautor S.P.R.L.'s share of Marimekko Corporation's share capital and voting     
rights fell to 0.00%, or 0 shares, as a result of a transaction concluded on 18 
June 2009. Semerca Investments S.A.'s share of Marimekko Corporation's share    
capital and voting rights rose to 10.58%, or 850,377 shares, as a result of a   
transaction concluded on 18 June 2009. According to Marimekko Corporation's     
knowledge, Semerca Investments S.A. is the parent company of Fautor S.P.R.L.    

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 1,185,738 Marimekko shares were traded,    
representing 14.7% of the shares outstanding. The total value of Marimekko's    
share turnover was EUR 10,730,919. The lowest price of the Marimekko share was  
EUR 7.50, the highest was EUR 11.44, and the average price was EUR 9.18. At the 
end of the review period, the final price of the share was EUR 9.60. The        
company's market capitalisation on 30 June 2009 was EUR 77,184,000 (EUR         
111,756,000 on 30 June 2008, EUR 67,134,000 on 31 December 2008).               

PERSONNEL                                                                       

During the January-June period of 2009, the number of employees averaged 410    
(411). At the end of the period, the Group employed 409 (407) people, of whom 16
(16) worked abroad.                                                             

RISK MANAGEMENT AND MAJOR RISKS                                                 

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
as well as in the interim report for the first quarter of 2009. No changes have 
taken place in these risk factors during the period under review.               

In the near future, the main risks for Marimekko's business are associated with 
general economic development and the consequent increased uncertainty in the    
operating environment. In order to manage the risks, business activity          
monitoring and especially cost management have been further enhanced.           

RESEARCH AND DEVELOPMENT                                                        

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

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                
                                                                                
The Marimekko store in London was acquired from Skandium Ltd on 1 April 2009.   
The store's operations are administered by Marimekko UK Ltd, a subsidiary       
established at the end of March 2009.                                           

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.                                                                     

MAJOR EVENTS AFTER THE CLOSE OF THE REVIEW PERIOD                               

Changes in company management                                                   
Ms Malin Groop, Marimekko's Marketing Manager, was appointed as the Group's     
Marketing Director and member of the Management Group as of 1 August 2009. Ms   
Marja Korkeela, Head of Group Communications and Investor Relations and member  
of the Management Group, will leave the company on 31 August 2009. As of 1      
August 2009, the Management Group is composed of Mika Ihamuotila as Chairman,   
with members Thomas Ekström (finance and administration), Malin Groop           
(marketing), Päivi Lonka (international sales), Mervi Metsänen-Kalliovaara      
(domestic wholesale, business-to-business sales, and sales development), Niina  
Nenonen (clothing, bags, and accessories), Piia Rossi (company-owned retail     
shops), and Helinä Uotila (production, purchases, and interior decoration).     

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 half of 2009, Marimekko's net sales decreased and profit fell      
considerably due to a sharp decline in demand caused by the economic recession. 
The difficult market situation continues and there are not yet any signs of     
recovery.  The outlook for the Finnish economy is particularly bleak. The       
downtrend in trade is expected to continue during the latter half of the year.  
In uncertain market conditions, it is extremely difficult to estimate the sales 
trend. According to the company's current knowledge, deliveries during the      
remainder of the year will include some one-off items that improve net sales and
earnings. However, the value of these items will be smaller than in 2008. In the
last quarter of 2009, the decline in sales compared to the previous year is     
expected to slow down, as sales already fell considerably both in Finland and   
abroad in the corresponding period of 2008. The full-year estimate for 2009 is  
unchanged: net sales are forecast to decrease by about 10% from the year 2008   
and operating result is expected to decline distinctly.                         

During 2009, the Marimekko Group's earnings trend has declined considerably due 
to the difficult market conditions. The company has reviewed its cost structure 
and taken steps to adjust costs to correspond to the current market conditions. 
The actions aimed at savings in fixed costs will be continued to ensure the     
company's profitability and steady business development.                        

Helsinki, 13 August 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, 30 June                                

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)             4-6/     4-6/     1-6/     1-6/      1-12/              
                        2009     2008     2009     2008       2008              

NET SALES             15,999   18,539   32,262   37,133     81,107              
Other operating                                                                 
 income                    8       14       31       24        244              
Increase or decrease                                                            
 in inventories of                                                              
 completed and                                                                  
 unfinished products     427      703      233    2,564        185              
Raw materials and                                                               
 consumables           5,708    7,534   12,517   16,751     33,597              
Employee benefit                                                                
 expenses              4,658    4,786    9,193    9,208     18,287              
Depreciation             347      326      697      655      1,324              
Other operating                                                                 
 expenses              3,809    4,070    8,616    8,743     18,372              

OPERATING PROFIT       1,058    2,540    1,037    4,364      9,956              

Financial income          29       48       53      101        205              
Financial expenses       -16      -57       -6      -87       -197              
                          13       -9       47       14          8              

PROFIT BEFORE TAXES    1,071    2,531    1,084    4,378      9,964              

Income taxes             282      669      282    1,141      2,586              

NET INCOME FOR                                                                  
THE PERIOD               789    1,862      802    3,237      7,378              

Distribution of                                                                 
 net income to equity                                                           
 holders of                                                                     
 the parent company      789    1,862      802    3,237      7,378              

Basic and diluted                                                               
 earnings per share                                                             
 calculated on the                                                              
 profit attributable                                                            
 to equity holders of                                                           
 the parent                                                                     
 company, EUR           0.10     0.23     0.10     0.40       0.92              


COMPREHENSIVE CONSOLIDATED INCOME STATEMENT                                     

(EUR 1,000)                   4-6/    4-6/    1-6/    1-6/   1-12/              
                              2009    2008    2009    2008    2008              

Net income for                                                                  
 the period                    789   1,862     802   3,237   7,378              
Other comprehensive income                                                      
 Change in translation                                                          
 difference                      1       3       1       3      -5              

TOTAL COMPREHENSIVE                                                             
INCOME FOR THE PERIOD          790   1,865     803   3,240   7,373              

Distribution of net income                                                      
 to equity holders of                                                           
 the parent company            790   1,865     803   3,240   7,373              


CONSOLIDATED BALANCE SHEET                                                      

(EUR 1,000)                  30.6.2009    30.6.2008     31.12.2008              

ASSETS                                                                          

NON-CURRENT ASSETS                                                              
Tangible assets                  9,807        9,691          9,948              
Intangible assets                  423          389            458              
Available-for-sale                                                              
 financial assets                   20           20             20              
                                10,250       10,100         10,426              

CURRENT ASSETS                                                                  
Inventories                     16,716       20,274         17,286              
Trade and other receivables      6,397        5,755          6,109              
Current tax assets                 268          501            268              
Cash and cash equivalents        2,258        4,251          6,112              
                                25,639       30,781         29,775              

ASSETS, TOTAL                   35,889       40,881         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             -1            6             -2              
Retained earnings               19,884       19,363         23,504              
Shareholders' equity, total     27,923       27,409         31,542              

NON-CURRENT LIABILITIES                                                         
Deferred tax liabilities          703           721            705              
Financial liabilities               -           185              -              
                                  703           906            705              

CURRENT LIABILITIES                                                             
Trade and other payables        7,263         7,781          7,751              
Current tax liabilities             -             -             18              
Financial liabilities               -         4,785            185              
                                7,263        12,566          7,954              

Liabilities, total              7,966        13,472          8,659              

SHAREHOLDERS' EQUITY AND                                                        
LIABILITIES, TOTAL             35,889        40,881         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)                              1-6/      1-6/      1-12/              
                                         2009      2008       2008              

CASH FLOW FROM OPERATING ACTIVITIES                                             

Net profit for the period                 802     3,237      7,378              
Adjustments                                                                     
 Depreciation according to plan           697       655      1,324              
 Financial income and expenses            -47       -14         -8              
 Taxes                                    282     1,141      2,586              
Cash flow before change                                                         
 in working capital                     1,734     5,019     11,280              

Change in working capital                 833    -3,219       -629              
 Increase (-) / decrease (+) in current                                         
 non-interest-bearing trade receivables   752      -218       -574              
 Increase (-) / decrease (+) in                                                 
 inventories                              570    -1,994        995              
 Increase (-) / decrease (+) in                                                 
 current non-interest-bearing                                                   
 liabilities                             -489    -1,007     -1,050              
Cash flow from operating activities                                             
 before financial items and taxes       2,567     1,800     10,651              

Paid interest and payments on                                                   
 other financial expenses                  -7       -78       -200              
Interest received                          62        96        201              
Taxes paid                             -1,348    -1,422     -2,616              

CASH FLOW FROM OPERATING ACTIVITIES     1,274       396      8,036              

CASH FLOW FROM INVESTING ACTIVITIES                                             

Investments in tangible                                                         
 and intangible assets                   -521      -368     -1,362              

CASH FLOW FROM INVESTING ACTIVITIES      -521      -368     -1,362              

CASH FLOW FROM FINANCING ACTIVITIES                                             

Short-term loans drawn                      -     4,600      4,600              
Short-term loans repaid                  -185      -950     -5,550              
Long-term loans repaid                      -      -470       -655              
Dividends paid                         -4,422    -5,226     -5,226              

CASH FLOW FROM FINANCING ACTIVITIES    -4,607    -2,046     -6,831              

Change in cash and cash equivalents    -3,854    -2,018       -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               2,258     4,251      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                               3      3,237           3,240              

Dividends paid                              -5,226          -5,226              

Shareholders'                                                                   
 equity                                                                         
 30 June 2008       8,040             6     19,363          27,409              


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

Comprehensive                                                                   
 income for the                                                                 
 period                                1       802             803              

Dividends paid                              -4,422          -4,422              

Shareholders'                                                                   
 equity                                                                         
 30 June 2009      8,040             -1     19,884          27,923              


KEY INDICATORS                                                                  

                                1-6/      1-6/    Change,    1-12/              
                                2009      2008          %     2008              

Earnings per share, EUR         0.10      0.40      -75.0     0.92              
Equity per share, EUR           3.47      3.40        2.1     3.92              
Share of exports and                                                            
 international operations,                                                      
 % of net sales                 31.8      31.0                27.0              
Return on equity (ROE), %        5.4      22.8                24.2              
Return on investment (ROI), %    7.3      28.1                32.3              
Equity ratio, %                 77.8      67.2                78.7              
Gearing, %                      -8.1       2.6               -18.8              
Gross investments, EUR 1,000     521       368               1,362              
Gross investments,                                                              
 % of net sales                  1.6       1.0                 1.7              
Contingent liabilities,                                                         
 EUR 1,000                     17,444   17,382        0.4   17,861              
Average personnel                 410      411       -0.2      411              
Personnel at the end of                                                         
 the period                       409      407        0.4      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)     4-6/    4-6/ Change,   1-6/    1-6/ Change,  1-12/              
                2009    2008       %   2009    2008       %   2008              

Finland       11,116  13,415  -17.1  21,990  25,637  -14.2  59,175              
Other Nordic                                                                    
 countries     1,590   2,594  -38.7   3,288   5,248  -37.3   9,423              
Rest of Europe 1,167     889   31.3   2,469   2,451    0.7   4,700              
North America    841     815    3.2   1,563   1,913  -18.3   3,994              
Other                                                                           
 countries     1,285     826   55.9   2,952   1,884   56.7   3,815              
TOTAL         15,999  18,539  -13.7  32,262  37,133  -13.1  81,107              

NET SALES BY PRODUCT LINE                                                       

(EUR 1,000)     4-6/    4-6/ Change,   1-6/    1-6/ Change,  1-12/              
                2009    2008       %   2009    2008       %   2008              

Clothing       6,482   7,513  -13.7  13,560  15,351  -11.7  29,898              
Interior                                                                        
 decoration    6,753   7,377   -8.5  12,938  14,965  -13.5  37,747              
Bags           2,764   3,649  -24.3   5,764   6,817  -15.4  13,462              
TOTAL         15,999  18,539  -13.7  32,262  37,133  -13.1  81,107              


SEGMENT INFORMATION                                                             

(EUR 1,000)             1-6/2009   1-6/2008  Change, %   1-12/2008              

Marimekko business                                                              
 Net sales                32,262     37,133      -13.1      81,107              
 Operating profit          1,037      4,364      -76.2       9,956              
 Assets                   35,889     40,881      -12.2      40,201              

QUARTERLY TREND IN NET SALES AND EARNINGS                                       

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

Net sales                 15,999      16,263      22,061    21,913              
Operating result           1,058         -21       1,845     3,747              
Earnings per share, EUR     0.10        0.00        0.17      0.35              

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

Net sales                 18,539      18,594      22,656    20,699              
Operating result           2,540       1,824       3,382     3,965              
Earnings per share, EUR     0.23        0.17        0.31      0.36


marimekko_interim report_q2_2009.pdf