Published: 2010-05-06 08:00:00 CEST
Marimekko Corporation - Interim report (Q1 and Q3)
MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 31 MARCH 2010
Marimekko Corporation        INTERIM REPORT                                     
                             6 May 2010 at 9 a.m.                               

MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 31 MARCH 2010               

In the January-March period of 2010, the Marimekko Group's net sales fell       
slightly; operating result improved markedly. Net sales fell by 2% to EUR 16.0  
million (EUR 16.3 million). Operating result increased to EUR 1.2 million       
(EUR -0.02 million). Profit after taxes for the period was EUR 0.9 million      
(EUR 0.01 million) and earnings per share were EUR 0.12 (EUR 0.00). The         
full-year estimate for 2010 remains unchanged: the Group's net sales and        
operating profit are expected to be approximately at the same level as in 2009. 

                                1-3/      1-3/    Change,    1-12/              
                                2010      2009          %     2009              

Net sales, EUR 1,000          16,008    16,263      -1.6    72,473              
Operating result, EUR 1,000    1,223       -21               6,291              
Profit before taxes,                                                            
 EUR 1,000                     1,233        13               6,354              
Profit for the period,                                                          
 EUR 1,000                       928        13               4,701              
Earnings per share, EUR         0.12      0.00                0.59              
Equity per share, EUR           4.07      3.92                3.96              
Cash flow from operating                                                        
 activities EUR 1,000         -1,961      -447               9,941              
Return on equity (ROE), %       11.5      0.17                14.8              
Return on investment (ROI), %   15.1      0.03                20.1              
Equity ratio, %                 78.8      80.3                77.7              

Mika Ihamuotila, President and CEO:                                             

”Development in the first quarter was encouraging. The slight fall in our net   
sales was attributable to an extensive price-led promotion organised in the     
comparison period in Finland to reduce inventories. Average sales margin        
improved, and the measures taken in 2009 to enhance operational efficiency      
proved effective. Consequently, the operating result for the first quarter of   
2010 improved noticeably from the previous year, albeit this was partly due to  
the fact that marketing costs for the period were substantially lower than the  
year before. Wholesale sales in Finland showed a positive trend. Some signs of  
recovery were also evident abroad; in the market areas referred to as “the other
Nordic countries” and “the rest of Europe”, sales grew well.                    

We expect market conditions to remain relatively challenging during the         
remainder of the year. Nevertheless, we will continue our long-term investment  
in product development and building our international distribution network. Many
of our new products, such as the glassware launched in Milan in April, have had 
a warm reception. I am pleased that we have found a more consistent operating   
model that will underpin the Marimekko brand in different distribution channels.
We are now ready to take even bolder steps on the road to international growth.”

2010 calendar                                                                   
Marimekko Corporation's interim report for the January-June period of 2010 will 
be published on Thursday 12 August at 9 am, and the interim report for the      
January-September period on Thursday 4 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                                                            

Piia Pakarinen                                                                  
Tel. +358 9 758 7293                                                            
Fax +358 9 755 3051                                                             
E-mail: piia.pakarinen@marimekko.fi                                             

DISTRIBUTION:                                                                   
NASDAQ OMX Helsinki Ltd                                                         
Principal media                                                                 
Marimekko's web site: 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 about 40 countries. Products with   
Marimekko designs are also manufactured under licence in various countries. In  
2009, the company's net sales amounted to EUR 72.5 million, of which            
international sales accounted for 27.3%. The Group employs about 370 people. The
company's share is quoted on NASDAQ OMX Helsinki Ltd.                           

MARIMEKKO CORPORATION'S INTERIM REPORT, 1 JANUARY - 31 MARCH 2010               

MARKET SITUATION                                                                

The recovery speed of Europe's economy has been slower than in the United States
or Japan, not to mention the rest of Asia. The recovery of Finland's economy has
continued sluggishly, but confidence in the Finnish economy has not diminished. 
The overall economic outlook is positive compared to the current poor situation.
(Confederation of Finnish Industries EK: Economic Review, 12 April 2010). From  
January to March 2010, the value of retail sales in Finland rose by 2.3%        
(Statistics Finland: Retail trade quick estimate, March 2010). In the           
January-February period of 2010, retail sales of clothing (excluding sportswear)
grew by 1.2% (Textile and Fashion Industries TMA). Sales of womenswear fell by  
1.6%, while sales of menswear rose by 4.4%, and sales of childrenswear by 6.3%. 
Sales of bags decreased by 7.0%. From January to February 2010, exports of      
clothing (SITC 84) fell by 15% and imports by 17%; exports of textiles (SITC 65)
declined by 8% and imports by 5% (National Board of Customs, monthly review,    
February 2010).                                                                 

NET SALES                                                                       

In the January-March period of 2010, the Marimekko Group's net sales decreased  
by 1.6% to EUR 16,008 thousand (EUR 16,263 thousand). Net sales in Finland fell 
by 6.3% to EUR 10,185 thousand (EUR 10,874 thousand). The decrease was          
attributable to an extensive price-led promotion organised in the comparison    
period in Finland to reduce inventories. International sales rose by 8.1% to    
EUR 5,823 thousand (EUR 5,389 thousand), which represented 36.4% (33.1%) of the 
Group's net sales.                                                              

The breakdown of the Group's net sales by product line was as follows: clothing 
45.1%, interior decoration 39.3%, and bags 15.6%. Net sales by market area were:
Finland 63.6%, the other Nordic countries 12.4%, the rest of Europe 9.0%, North 
America 4.6%, and other countries (Japan and other regions outside Europe and   
North America) 10.4%.                                                           

REVIEWS BY BUSINESS UNIT                                                        

Clothing                                                                        
In the January-March period of 2010, net sales of clothing increased by 1.9% to 
EUR 7,216 thousand (EUR 7,078 thousand). Sales in Finland decreased slightly.   
Sales abroad rose in all markets except North America. In Japan, clothing sales 
grew vigorously. International sales accounted for 33.5% of net sales of        
clothing.                                                                       

Interior decoration                                                             
Net sales of interior decoration products increased by 1.7% to EUR 6,289        
thousand (EUR 6,185 thousand). Sales grew well in North America and the market  
areas referred to as “the rest of Europe” and “the other Nordic countries”.     
Sales in Finland decreased slightly. Sales in Japan also declined somewhat; the 
fall was largely due to the opening of new concept stores and the deliveries of 
their initial inventories in the corresponding period of the previous year.     
International sales accounted for 37.8% of net sales of interior decoration     
products.                                                                       

Bags                                                                            
Net sales of bags fell by 16.6% to EUR 2,503 thousand (EUR 3,000 thousand).     
Sales declined in all market areas. International sales accounted for 41.3% of  
net sales of bags.                                                              

Sales in Finland                                                                
In the January-March period of 2010, Marimekko's retail sales, i.e. sales by    
Marimekko's own retail shops in Finland, declined by 15.1%. Domestic wholesale  
sales increased by 4.9%. Both retail and wholesale sales in Finland were        
adversely affected by the extensive price-led promotion organised in the        
comparison period in Finland to reduce inventories. Business-to-business sales  
are included in domestic wholesale sales figures and will no longer be reported 
separately.                                                                     

International sales                                                             
In the January-March period of 2010, Marimekko's international sales (previously
“exports and international operations”) showed tentative signs of recovery.     
Sales increased by 8.1% to EUR 5,823 thousand (EUR 5,389 thousand). In the      
market area referred to as "the other Nordic countries", net sales were up 17.0%
on the comparison period, totalling EUR 1,986 thousand (EUR 1,698 thousand). The
rise in the value of the Swedish krona contributed to the increase in net sales.
In the market area referred to as "the rest of Europe", sales rose to EUR 1,443 
thousand, which was 10.8% up on the previous year (EUR 1,302 thousand). Net     
sales in North America increased by 1.4% to EUR 732 thousand (EUR 722 thousand).
In the market area referred to as "other countries", net sales fell by 0.3% to  
EUR 1,662 thousand (EUR 1,667 thousand).                                        

Licensing                                                                       
Royalty earnings from sales of licensed products increased significantly during 
the period under review. The growth was generated by a one-off collaboration in 
Japan. Royalty earnings grew somewhat in Finland and fell slightly in the United
States.                                                                         

Production                                                                      
During the January-March period of 2010, the output of the Herttoniemi textile  
printing factory increased by 19%. The production volume of the Sulkava factory 
remained at the same level as in the corresponding period of the previous year. 
The output of the Kitee factory declined as a result of the changes to the      
production structure and the personnel reductions implemented in 2009.          

EARNINGS                                                                        

In the January-March period of 2010, the Group's operating result increased to  
EUR 1,233 thousand (EUR -21 thousand). Operating result as a percentage of net  
sales was 7.6% (-0.1%). Marketing expenses for the period amounted to EUR 666   
thousand (EUR 1,104 thousand), representing 4.2% (6.8%) of the Group's net      
sales.                                                                          

Earnings for the period were improved by an increase in average sales margin as 
well as a reduction in fixed costs, achieved through operational efficiency     
enhancements. The fact that marketing costs for the period were approximately   
EUR 400 thousand lower than the year before also contributed to the increase in 
earnings. Full-year marketing expenses will be at the same level as in 2009.    

The Group's depreciation amounted to EUR 357 thousand (EUR 350 thousand),       
representing 2.2% (2.2%) of net sales. Net financial income totalled EUR 10     
thousand (EUR 34 thousand), or 0.1% (0.2%) of net sales.                        

Profit for the period after taxes stood at EUR 928 thousand (EUR 13 thousand),  
representing 5.8% (0.1%) of net sales. Earnings per share were EUR 0.12 (EUR    
0.00).                                                                          

INVESTMENTS                                                                     

The Group's gross investments amounted to EUR 275 thousand (EUR 188 thousand),  
representing 1.7% (1.2%) of net sales. The majority of investments were directed
at acquisitions and updates of computer software.                               

EQUITY RATIO AND FINANCING                                                      

The Group's equity ratio was 78.8% at the end of the period (80.3% on 31 March  
2009, 77.7% on 31 December 2009). The ratio of interest-bearing liabilities     
minus financial assets to shareholders' equity (gearing) was -24.5%, while it   
was -16.8% at the end of the corresponding period in the previous year (-32.2%  
on 31 December 2009).                                                           

At the end of the period, the Group's financial liabilities stood at EUR 0 (EUR 
185 thousand). The Group's financial assets at the end of the period amounted to
EUR 8,009 thousand (EUR 5,478 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 6,778 (6,526) shareholders  
at the end of the period. Of the shares, 13.6% were registered in a nominee's   
name and 15.9% were in foreign ownership. The number of shares owned either     
directly or indirectly by members of the Board of Directors and the President of
the company was 1,086,440, 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 2010  

                                           Number of    Percentage              
                                          shares and    of holding              
                                               votes     and votes              

1.  Muotitila Ltd                          1,045,200         13.00              
2.  Semerca Investment Ltd                   850,377         10.58              
3.  ODIN Finland                             403,704          5.02              
4.  Varma Mutual Employment                                                     
    Pension Insurance Company                385,920          4.80              
5.  Nordea Nordic Small Cap Fund             288,594          3.59              
6.  Ilmarinen Mutual Pension                                                    
    Insurance Company                        265,419          3.30              
7.  Veritas Pension Insurance Company        220,000          2.74              
8.  Sairanen Seppo                            71,379          0.89              
9.  Mutual Fund Tapiola Finland               58,555          0.73              
10. Foundation for Economic Education         50,000          0.62              
11. Scanmagnetics Oy                          40,000          0.50              
12. Haapanala Auvo                            35,000          0.43              
13. Westerberg Olof                           33,600          0.42              
14. Fromond Elsa                              32,200          0.40              
15. Karvonen Eero                             27,900          0.34              
Total                                      3,807,848         47.36              
Nominee-registered                         1,090,224         13.56              
Others                                     3,141,928         39.08              
Total                                      8,040,000        100.00              

Flaggings                                                                       
SEB Asset Management S.A.'s share of Marimekko Corporation's share capital and  
voting rights rose to 5.13%, or 412,259 shares, as a result of a transaction    
concluded on 5 February 2010.                                                   

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 482,796 Marimekko shares were traded,      
representing 6.0% of the shares outstanding. The total value of Marimekko's     
share turnover was EUR 5,259,915. The lowest price of the Marimekko share was   
EUR 10.00, the highest was EUR 11.89, and the average price was EUR 10.67. At   
the end of the review period, the final price of the share was EUR 11.89. The   
company's market capitalisation on 31 March 2010 was EUR 95,595,600             
(EUR 65,928,000 on 31 March 2009, EUR 82,812,000 on 31 December 2009).          

PERSONNEL                                                                       

During the January-March period of 2010, the number of employees averaged 371   
(411). At the end of the period, the Group employed 370 (407) people, of whom 18
(14) worked abroad.                                                             

RISK MANAGEMENT AND MAJOR RISKS                                                 

No changes have occurred in the common risk factors since the review presented  
in the report of the Board of Directors on 2 February 2010. The particular risks
in the near future are associated with the development of consumers' purchasing 
behaviour. The management and monitoring of change and ensuring sufficient core 
expertise are emphasised in risk management.                                    

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.              
Environmental, health and safety issues are reported in the 2009 Annual Report. 
The framework for reporting is provided by the G3 guidelines of the Global      
Reporting Initiative (GRI).                                                     

MAJOR EVENTS AFTER THE CLOSE OF THE REVIEW PERIOD                               

Decisions of the Annual General Meeting                                         
Marimekko Corporation's Annual General Meeting, held on 15 April 2010, adopted  
the company's financial statements for 2009 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 0.45 per share for   
the 2009 financial year, totalling EUR 3,618,000.00. The dividend payout record 
date was 20 April 2010, and the dividend payout date 27 April 2010.             

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 Board is     
chaired by Pekka Lundmark and vice-chaired by Mika Ihamuotila. The term of      
office for the Board runs until the end of the next Annual General Meeting.     

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

Amendment of the Articles of Association                                        
The Annual General Meeting approved the Board of Directors' proposal for        
amendment of Article 9 of the Articles of Association. The amendment was        
detailed in the Notice of the Annual General Meeting published on 17 March 2010.

Flaggings                                                                       
SEB Asset Management S.A.'s share of Marimekko Corporation's share capital and  
voting rights fell to 0.00%, or 0 shares, as a result of a share loan           
arrangement on 15 April 2010, and then reverted to 5.13%, or 412,259 shares, at 
the termination of the share loan on 28 April 2010.                             

The combined share of the entities managed by Credit Suisse Group AG in         
Marimekko Corporation's share capital and voting rights rose to 5.60%, or       
450,000 shares, as a result of a transaction made on 20 April 2010. After the   
transaction, Credit Suisse Securities (Europe) Ltd held 400,000 Marimekko shares
and Credit Suisse Securities (USA) LLC 50,000 shares. The combined share of the 
above-mentioned entities managed by Credit Suisse Group AG in Marimekko         
Corporation's share capital and voting rights fell below 5.00% as a result of a 
transaction made on 23 April 2010.                                              

OUTLOOK FOR THE REMAINDER OF 2010                                               

Marimekko Corporation operates in a field where economic trends affect its      
business activities. Net sales declined slightly in the first quarter of 2010,  
while earnings improved noticeably. Market conditions are expected to remain    
relatively challenging in the rest of the year.                                 

The majority of the Group's net sales are generated in Finland. In recent years,
however, exports have increasingly been driving Marimekko's net sales growth.   
During the current year, Marimekko's exports are estimated to grow slightly. In 
2009, the Group's net sales and earnings included significant revenues generated
from individual promotions. This year, similar revenues that increase net sales 
and improve earnings are estimated to be lower. Furthermore, earnings will be   
burdened by additional investments that the company has decided to focus on     
developing its international distribution network.                              

The full-year estimate for 2010 remains unchanged: the Group's net sales and    
operating profit are expected to be approximately at the same level as in 2009. 

Helsinki, 6 May 2010                                                            

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 was prepared in accordance with IAS 34: Interim Financial   
Reporting. The same accounting principles were applied as in the 2009 financial 
statements.                                                                     

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/              
                                  2010     2009         %     2009              

NET SALES                       16,008   16,263      -1.6   72,473              
Other operating income               7       23     -69.6       41              
Increase or decrease                                                            
 in inventories of completed                                                    
 and unfinished products         1,517      194             -2,135              
Raw materials and consumables    7,490    6,809      10.0   26,890              
Employee-benefit expenses        4,216    4,535      -7.0   18,202              
Depreciation                       357      350       2.0    1,394              
Other operating expenses         4,246    4,807     -11.7   17,602              

OPERATING PROFIT/LOSS            1,223      -21              6,291              

Financial income                    -2       24    -108.3       86              
Financial expenses                  12       10      20.0      -23              
                                    10       34     -70.6       63              

PROFIT BEFORE TAXES              1,233       13              6,354              

Income taxes                       305        -              1,653              

NET INCOME FOR THE PERIOD          928       13              4,701              

Distribution of net income                                                      
 to equity holders                                                              
 of the parent company             928       13              4,701              

Basic and diluted earnings                                                      
 per share calculated on                                                        
 the profit attributable to                                                     
 equity holders of the                                                          
 parent company, EUR              0.12     0.00               0.59              


COMPREHENSIVE CONSOLIDATED INCOME STATEMENT                                     
                                                                                
(EUR 1,000)                       1-3/     1-3/              1-12/              
                                  2010     2009               2009              

Net income for the period          928       13              4,701              
Other comprehensive income                                                      
 Change in translation difference    -       -4                  4              

COMPREHENSIVE INCOME                                                            
FOR THE PERIOD                     928        9              4,705              

Distribution of net income                                                      
 to equity holders                                                              
 of the parent company             928        9              4,705              


CONSOLIDATED BALANCE SHEET                                                      

(EUR 1,000)                     31.3.2010   31.3.2009   31.12.2009              

ASSETS                                                                          

NON-CURRENT ASSETS                                                              
Tangible assets                     9,553       9,811        9,805              
Intangible assets                     578         434          409              
Available-for-sale financial                                                    
 assets                                20          20           20              
                                   10,151      10,265       10,234              

CURRENT ASSETS                                                                  
Inventories                        16,162      16,735       15,229              
Trade and other receivables         7,247       6,618        5,241              
Current tax assets                     18         268           18              
Cash and cash equivalents           8,009       5,478       10,245              
                                   31,436      29,099       30,733              

ASSETS, TOTAL                      41,587      39,364       40,967              

SHAREHOLDERS' EQUITY AND                                                        
LIABILITIES                                                                     

EQUITY ATTRIBUTABLE TO EQUITY                                                   
HOLDERS OF THE PARENT COMPANY                                                   
Share capital                       8,040       8,040        8,040              
Translation differences                 2          -6            2              
Retained earnings                  24,711      23,517       23,783              
Shareholders' equity, total        32,753      31,551       31,825              

NON-CURRENT LIABILITIES                                                         
Deferred tax liabilities                    693         705          683        

CURRENT LIABILITIES                                                             
Trade and other payables            7,557       6,905        7,874              
Current tax liabilities               584          18          585              
Financial liabilities                   -         185            -              
                                    8,141       7,108        8,459              

Liabilities, total                  8,834       7,813        9,142              

SHAREHOLDERS' EQUITY AND                                                        
LIABILITIES,TOTAL                  41,587      39,364       40,967              

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/              
                                        2010      2009        2009              

CASH FLOW FROM OPERATING ACTIVITIES                                             

Net profit for the period                928        13       4,701              
Adjustments                                                                     
 Depreciation according to plan          357       350       1,394              
 Financial income and expenses           -10       -35         -63              
 Taxes                                   305         -       1,653              
Cash flow before change in working                                              
 capital                               1,580       328       7,685              

Change in working capital             -2,905      -179       2,997              
 Increase (-) / decrease (+)                                                    
  in current non-interest-bearing                                               
  trade receivables                   -1,664       122         834              
 Increase (-) / decrease (+)                                                    
  in inventories                        -933       551       2,055              
 Increase (-) / decrease (+)                                                    
  in current non-interest-bearing                                               
  liabilities                           -308      -852         108              
Cash flow from operating activities                                             
 before financial items and taxes     -1,325       149      10,682              

Paid interest and payments on other                                             
 financial expenses                       12        11         -24              
Interest received                         -2        56         120              
Taxes paid                              -646      -663        -837              

CASH FLOW FROM OPERATING ACTIVITIES   -1,961      -447       9,941              

CASH FLOW FROM INVESTING ACTIVITIES                                             

Investments in tangible                                                         
 and intangible assets                  -275      -188      -1,202              

CASH FLOW FROM INVESTING ACTIVITIES     -275      -188      -1,202              

CASH FLOW FROM FINANCING ACTIVITIES                                             

Short-term loans repaid                    -         -        -185              
Dividends paid                             -         -      -4,422              

CASH FLOW FROM FINANCING ACTIVITIES        -         -      -4,607              

Change in cash and cash equivalents   -2,236      -635       4,133              

Cash and cash equivalents                                                       
 at the beginning of the period       10,245     6,112       6,112              
Cash and cash equivalents                                                       
 at the end of the period              8,009     5,478      10,245              


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. 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              


Shareholders'                                                                   
 equity                                                                         
 1 Jan. 2010        8,040              2    23,783          31,825              

Comprehensive                                                                   
 income for the                                                                 
 period                                -       928             928              

Dividends paid                                   -               -              

Shareholders'                                                                   
 equity                                                                         
 31 March 2010      8,040              2    24,711          32,753              


KEY INDICATORS                                                                  

                                 1-3/     1-3/    Change,    1-12/              
                                 2010     2009          %     2009              

Earnings per share, EUR          0.12     0.00                0.59              
Equity per share, EUR            4.07     3.92        3.8     3.96              
Return on equity (ROE), %        11.5     0.17                14.8              
Return on investment (ROI), %    15.1     0.03                20.1              
Equity ratio, %                  78.8     80.3                77.7              
Gearing, %                      -24.5    -16.8               -32.2              
Gross investments, EUR 1,000      275      188               1,202              
Gross investments,                                                              
 % of net sales                   1.7      1.2                 1.7              
Contingent liabilities                                                          
 EUR 1,000                     10,645   18,056      -41.0   11,306              
Average personnel                 371      411       -9.7      400              
Personnel at the end of                                                         
 the period                       370      407       -9.2      370              
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)            1-3/2010   1-3/2009   Change, %   1-12/2009              

Finland                  10,185     10,874        -6.3      52,711              
Other Nordic countries    1,986      1,698        17.0       7,042              
Rest of Europe            1,443      1,302        10.8       4,821              
North America               732        722         1.4       3,003              
Other countries           1,662      1,667        -0.3       4,896              
TOTAL                    16,008     16,263        -1.6      72,473              

NET SALES BY PRODUCT LINE                                                       

(EUR 1,000)            1-3/2010   1-3/2009   Change, %   1-12/2009              

Clothing                  7,216      7,078         1.9      27,466              
Interior decoration       6,289      6,185         1.7      32,687              
Bags                      2,503      3,000       -16.6      12,320              
TOTAL                    16,008     16,263        -1.6      72,473              


SEGMENT INFORMATION                                                             

(EUR 1,000)             1-3/2010   1-3/2009   Change, %  1-12/2009              

Marimekko business                                                              
 Net sales               16,008      16,263       -1.6      72,473              
 Operating result         1,223         -21                  6,291              
 Assets                  41,587      39,364        5.6      40,967              


QUARTERLY TREND IN NET SALES AND EARNINGS                                       

(EUR 1,000)                   1-3/     10-12/      7-9/       4-6/              
                              2010       2009      2009       2009              

Net sales                   16,008     20,719    19,492     15,999              
Operating result             1,223      2,353     2,901      1,058              
Earnings per share, EUR       0.12       0.22      0.27       0.10              

(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


marimekko_interim report_q1_2010.pdf