Company profile
Marimekko Corporation (business identity code 0111316-2) is a Finnish clothing and textile design company. Marimekko Corporation and its subsidiaries form a Group that designs, sources, sells and markets clothing, bags and accessories, and interior decoration products. In addition, the company produces printed fabrics in its own textile printing factory.
Marimekko Corporation\u2019s shares are quoted on Nasdaq Helsinki Ltd. The company is domiciled in Helsinki, and its reg-istered address is Puusep\u00e4nkatu 4, 00880 Helsinki, Finland. The financial year of all Group companies is the calendar year.
Copies of the consolidated financial statements are avail-able at company.marimekko.com and the head office of the Group\u2019s parent company at Puusep\u00e4nkatu 4, 00880 Helsinki, Finland.
Marimekko Corporation\u2019s Board of Directors approved these financial statements for publication at its meeting on 3 March 2026 According to the Finnish Companies Act, share-holders have the right to accept or reject the financial state-ments at the Annual General Meeting held after the publica-tion. The AGM may also amend the financial statements.
Principles of consolidation
Marimekko\u2019s consolidated financial statements include the accounts of the parent company Marimekko Corporation and its subsidiaries.
Subsidiaries are all entities over which the Group has con-trol. The Group controls an entity where it is exposed to, or
has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__7": { "value": "Marimekko Corporation ", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__8": { "value": "Marimekko Corporation ", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__9": { "value": "Corporation ", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__10": { "value": "clothing and textile design company", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__11": { "value": "Helsinki ", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__14": { "value": "Puusep\u00e4nkatu 4, 00880 Helsinki, Finland", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__12": { "value": "Finland", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__13": { "value": "Finland", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__15": { "value": "Marimekko Corporation\u2019s Board of Directors approved these financial statements for publication at its meeting on 3 March 2026 According to the Finnish Companies Act, share-holders have the right to accept or reject the financial state-ments at the Annual General Meeting held after the publica-tion. The AGM may also amend the financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__16": { "value": "Accounting policy
The financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS), complying with the IAS and IFRS standards as well as the SIC and IFRIC interpretations in force as at 31 December 2025. In the Finnish Accounting Act and the provisions laid down pursuant to the Act, International Financial Report-ing Standards refer to the standards approved for use in the EU in accordance with the procedures laid down in IAS Regulation (EC) 1606/2002 of the European Parliament, and the interpretations of these standards. The notes to the consolidated financial statements also comply with Finnish accounting and company legislation which complements IFRS regulations.
Financial statement information is presented in millions of euros.
Marimekko has in its double materiality analysis concluded that climate change does not have a material impact on the Group's results or balance sheet.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__17": { "value": "Accounting policy
The financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS), complying with the IAS and IFRS standards as well as the SIC and IFRIC interpretations in force as at 31 December 2025. In the Finnish Accounting Act and the provisions laid down pursuant to the Act, International Financial Report-ing Standards refer to the standards approved for use in the EU in accordance with the procedures laid down in IAS Regulation (EC) 1606/2002 of the European Parliament, and the interpretations of these standards. The notes to the consolidated financial statements also comply with Finnish accounting and company legislation which complements IFRS regulations.
Financial statement information is presented in millions of euros.
Marimekko has in its double materiality analysis concluded that climate change does not have a material impact on the Group's results or balance sheet.
", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__18-1": { "value": "Sources of uncertainty related to accounting estimates
When preparing consolidated financial statement in accord-ance with the International Financial Reporting Stand-ards (IFRS), the company's management must make esti-mates and assumptions about the future, which include uncertainty.
The company's management must evaluate the recording of deferred tax assets, as their realization requires taxable income in the coming years. In addition, there is uncertainty related to the assessment of the useful life of fixed assets and the execution or non-execution of lease contract extension options. There is also uncertainty related to the valuation of inventory and credit losses on trade receivables. Uncertainty in inventory is related to situations where the stock moves slowly. For credit losses on trade receivables, the uncertainty is related to the assessment of credit losses based on the his-torical data and information available at the time of the review.
The estimates and assumptions included in the consoli-dated financial statements are based on the best knowledge of the management as at the closing of the books. The actual figures may deviate from these estimates.
Estimates based on the management judgement
Estimates based on the management judgement are related to the return accrual and its calculation. In some cases, cus-tomer has a right to return the product. The estimate on the number of products potentially returned is calculated based on the historical data. In addition, management uses esti-mates on likely lease period of renewable lease agreements when determining the total lease period.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__19": { "value": "Sources of uncertainty related to accounting estimates
When preparing consolidated financial statement in accord-ance with the International Financial Reporting Stand-ards (IFRS), the company's management must make esti-mates and assumptions about the future, which include uncertainty.
The company's management must evaluate the recording of deferred tax assets, as their realization requires taxable income in the coming years. In addition, there is uncertainty related to the assessment of the useful life of fixed assets and the execution or non-execution of lease contract extension options. There is also uncertainty related to the valuation of inventory and credit losses on trade receivables. Uncertainty in inventory is related to situations where the stock moves slowly. For credit losses on trade receivables, the uncertainty is related to the assessment of credit losses based on the his-torical data and information available at the time of the review.
The estimates and assumptions included in the consoli-dated financial statements are based on the best knowledge of the management as at the closing of the books. The actual figures may deviate from these estimates.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__22": { "value": "Principles of consolidation
Marimekko\u2019s consolidated financial statements include the accounts of the parent company Marimekko Corporation and its subsidiaries.
Subsidiaries are all entities over which the Group has con-trol. The Group controls an entity where it is exposed to, or
has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__23": { "value": "Translation of items denominated in foreign currency
The results and the financial position of the Group units are measured in the currency used in the primary business envi-ronment of the unit in question (functional currency). The consolidated financial statements are presented in euros, the functional and presentation currency of the parent company.
Transactions in foreign currencies are recognized in the functional currency at the exchange rate on the date of trans-action. The foreign-currency-denominated receivables and liabilities of the parent company and its Finnish subsidiary have been converted to euro amounts using the exchange rates quoted by the European Central Bank on the closing date. The foreign-currency-denominated receivables and liabilities of foreign subsidiaries have been converted at the exchange rate of the country in question on the closing date. Foreign exchange differences in business operations are booked in the corresponding income statement accounts above operating profit and foreign exchange differences on financial items in financial income and expenses.
The foreign-currency-denominated income statements of subsidiaries are converted to euro amounts using the average exchange rate for the financial year and the balance sheets at the exchange rate on the closing date. Differences arising from translation and translation differences in shareholders\u2019 equity are recorded as a separate item in shareholders\u2019 equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__24": { "value": "Revenue recognition and net sales
The Group sells products in Marimekko\u2019s retail stores and online store, and through wholesale channels in Finland and abroad. Most of the Group\u2019s income is comprised of retail and wholesale sales of products plus licensing income.
The goods are handed over to the customer one item or several items at a time in the stores or by a carrier. The cus-tomer can utilize each sold product separately and the utili-zation of a single product is not dependent on other products sold by Marimekko. Revenue is recognized when the buyer obtains control of the product \u2013 that is when the significant risks and rewards of ownership have been transferred to the buyer. In wholesale, this is mainly the moment when the goods are handed over to the customer as set forth in the agreed delivery clause. In retail where cash, credit card or gift card is used as means of payment, the income is recognized at the time of sale.
Sales revenues are recognized at the amount to which Marimekko expects to be entitled in exchange for transfer-ring the promised goods to the customer, except for amounts collected on behalf of third parties, such as indirect taxes. Discounts granted are taken into account when determining the revenue to be recognized. The fulfillment of performance obligations is verifiable from payment receipts or transporta-tion documents. In compliance with IFRS 15, customer con-tributions are allocated to distinct goods and recognized as revenue by the Group when the goods are handed over to the customer in the store or when a wholesale customer obtains control of the goods according to the terms of delivery. In some cases, customer has a right to return the product. The estimate on the number of products potentially returned is calculated based on the historical data.
The Group has a loyalty program where consumer cus-tomers can collect points. The points can be used to redeem rewards that provide discounts on products. The Group reg-ularly assesses the contractual liability related to the loyalty program and recognizes discounts received through the loy-alty program as part of sales adjustments.
Licensing income is recognized in accordance with the clauses of the agreement between Marimekko and the licen-see when the later of the following events occurs:
(a) the subsequent sale or usage occurs, and
(b) the performance obligation to which some or all of the sales-based or usage-based royalty has been allocated has been fully or partially satisfied.
The clauses in the licensing agreements provide for licensing income payable to Marimekko for sales of products covered by the agreement as percentage-based licensing income or lump sum payments based on the fulfillment of per-formance-based obligations. Some licensees paying percent-age-based licensing income are according to the agreement obligated to pay at least an annual minimum licensing income.
The Group also engages in commission trading, where Marimekko is considered as principal, as Marimekko deter-mines the selling price of the products and is responsible for the inventory and product defects, although the agent handles complaints. The Group records the revenue as gross amount to which it expects to be entitled of in exchange for specified goods or services delivered. Commission trading is carried out on a shop-in-shop basis, where the seller of the product is an agent who charges the customer for the prod-uct, provides a sales receipt and acts on his own behalf. Any defects in the products are reported to the agent.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__25-1": { "value": "Other operating income
Other operating income includes, for example, rental income from operating lease agreements classified as other lease agreements, insurance payouts and sales proceeds of fixed assets.
2. OTHER OPERATING INCOME
(EUR million) | 2025 | 2024 |
Rental income | 0.1 | 0.1 |
Other income | 0.1 | 0.1 |
Total | 0.1 | 0.1 |
Operating profit
IAS 1 Presentation of Financial Statements does not contain a definition of operating profit. The Group has defined this concept as follows: operating profit is the net amount of net sales and other operating income less purchase expenses adjusted with change in inventories of finished goods and work in progress and expenses incurred due to production
for own use, less employee benefit expenses, depreciation, possible impairment loss and other operating expenses. Any income statement items other than the above are presented below the operating profit. Foreign exchange differences are included in the operating profit, provided they are attributa-ble to items related to business operations. Otherwise, they are recognized in financial items.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__27": { "value": "Employee benefits
Pension commitments
The pension security of the personnel of the Group\u2019s Finnish companies has been arranged under the Finnish statutory employee pension plan (TyEL) through an external pension insurance company. Foreign subsidiaries have arranged pensions for their personnel in accordance with local legis-lation. The Group\u2019s pension cover is arranged wholly under defined contribution schemes. Under a defined contribution arrangement, the Group pays contributions to publicly or pri-vately managed pension insurances. These contributions are either compulsory, based on an agreement or voluntary. The Group does not have any payment obligations other than these contributions. The contributions are recognized as employee benefit expenses at the time when they become due. Any contributions paid in advance are included in the assets on the balance sheet, insofar as they are recoverable as future refunds or future reductions of contributions.
Share-based payments
The Board of Directors of Marimekko Corporation decided in 2022 to continue the share-based long-term incentives for the company\u2019s management. An estimate of the fair value of share-based payments is recorded evenly over the duration of the program to the employee benefit expenses.
The incentive system for years 2022\u20132026 is described in greater detail in note 4 to the consolidated financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__28": { "value": "Share-based payments
The Board of Directors of Marimekko Corporation decided in 2022 to continue the share-based long-term incentives for the company\u2019s management. An estimate of the fair value of share-based payments is recorded evenly over the duration of the program to the employee benefit expenses.
The incentive system for years 2022\u20132026 is described in greater detail in note 4 to the consolidated financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__29": { "value": "Interest income
Interest income is recognized on a time-proportion basis using the effective interest method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__30": { "value": "Dividend income
Dividend income is recognized as income when the right to dividends is established.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__31": { "value": "Income taxes
Taxes on the Group companies\u2019 financial results for the period, taxes from previous periods and the change in deferred taxes are recorded as the Group\u2019s taxes. Taxes on the taxable income for the period are calculated on taxable income in accordance with the tax rate in force in the coun-try in question. Deferred taxes are calculated on all tempo-rary differences between the book value and the taxable value. However, a deferred tax liability is not accounted for if it arises from the initial recognition of an asset or liability in a transaction, other than a business combination, that at the time of the transaction affects neither accounting nor taxa-ble income. Deferred tax is not recognized for distributable earnings of subsidiaries where it is probable that the dif-ference will not reverse in the foreseeable future. Deferred taxes are calculated using the tax rates set by the closing date. Deferred tax assets are recognized to the extent that it is probable that future taxable profit, against which the tem-porary difference can be utilized, will be available.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__32": { "value": "Income taxes
Taxes on the Group companies\u2019 financial results for the period, taxes from previous periods and the change in deferred taxes are recorded as the Group\u2019s taxes. Taxes on the taxable income for the period are calculated on taxable income in accordance with the tax rate in force in the coun-try in question. Deferred taxes are calculated on all tempo-rary differences between the book value and the taxable value. However, a deferred tax liability is not accounted for if it arises from the initial recognition of an asset or liability in a transaction, other than a business combination, that at the time of the transaction affects neither accounting nor taxa-ble income. Deferred tax is not recognized for distributable earnings of subsidiaries where it is probable that the dif-ference will not reverse in the foreseeable future. Deferred taxes are calculated using the tax rates set by the closing date. Deferred tax assets are recognized to the extent that it is probable that future taxable profit, against which the tem-porary difference can be utilized, will be available.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__33": { "value": "Earnings per share
The basic earnings per share are calculated by dividing the result for the period attributable to equity holders of the par-ent company by the weighted average of shares outstand-ing. The weighted average number of shares used to calcu-late the diluted earnings per share takes into account the diluting effect of the conversion of potential common shares into actual shares during the period. There are no potential shares outstanding at the moment.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__34": { "value": "Intangible assets
Intangible assets with finite useful lives are recognized in the balance sheet at original cost less depreciation. Deprecia-tion of intangible assets is carried out on a straight-line basis over their estimated useful life.
The estimated useful lives are as follows:
intangible rights 5 years
computer software 3\u20135 years.
The major intangible assets are computer software. In addi-tion, intangible rights include trademarks.
The accounting for cloud computing arrangements depends on whether the cloud-based software classifies as a soft-ware intangible asset or a service contract. Those arrange-ments where the company does not have control over the underlying software are accounted for as service contracts providing the company with the right to access the cloud provider\u2019s application software over the contract period. The ongoing fees to obtain access to the application soft-ware, together with related configuration or customization costs incurred, are recognized as other operating expenses when the services are received.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__35-1": { "value": "The estimated useful lives are as follows:
intangible rights 5 years
computer software 3\u20135 years.
The major intangible assets are computer software. In addi-tion, intangible rights include trademarks.
The estimated useful lives are as follows:
buildings and structures 3\u201330 years
machinery and equipment 3\u201315 years.
The residual value and useful life of tangible assets are reviewed at the end of each financial year and if necessary, adjusted to reflect changes in the expectation of economic benefit.
If a tangible asset consists of several parts with differ-ent useful lives, each part is treated as a separate asset. Significant cost of replacing a part is capitalized when the company will derive economic benefit from the asset. Other expenses such as regular maintenance, repair and servicing costs are entered as expenses in the income statement when they are incurred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__36": { "value": "Tangible assets
Tangible assets consist of leased fixed assets and owned fixed assets which mainly comprise buildings, machinery and equipment. Tangible assets also include expenditures on conversions and renovations of leased premises com-prising, for example, completion work on business interiors in rented premises. Tangible assets are recorded in the bal-ance sheet at original cost less depreciation. Depreciation of tangible assets is carried out on a straight-line basis over their estimated useful life.
The estimated useful lives are as follows:
buildings and structures 3\u201330 years
machinery and equipment 3\u201315 years.
The residual value and useful life of tangible assets are reviewed at the end of each financial year and if necessary, adjusted to reflect changes in the expectation of economic benefit.
If a tangible asset consists of several parts with differ-ent useful lives, each part is treated as a separate asset. Significant cost of replacing a part is capitalized when the company will derive economic benefit from the asset. Other expenses such as regular maintenance, repair and servicing costs are entered as expenses in the income statement when they are incurred.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__38": { "value": "Provisions
A provision is recognized when the Group has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made.
A restructuring provision is recognized when the Group has compiled a detailed restructuring plan, launched its implemen-tation or informed the parties concerned.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__39": { "value": "Provisions
A provision is recognized when the Group has a present legal or constructive obligation as a result of a past event, and it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made.
A restructuring provision is recognized when the Group has compiled a detailed restructuring plan, launched its implemen-tation or informed the parties concerned.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__40": { "value": "Impairment
On each closing date, asset items are assessed for indica-tions of impairment. If there are such indications, the recov-erable amount of said asset item is estimated. The impair-ment recognized is the amount by which the book value of the asset item exceeds its recoverable amount, which is the higher of its net selling price or value in use. Value in use is based on discounted future net cash flows as a rule.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__41": { "value": "Lease agreements
In accordance with IFRS 16, the Group assesses at the inception of a contract whether the contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group has elected to separate non-lease components from lease components at the inception of a contract.
The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made before the commencement date, incentives received, initial direct costs incurred and an estimate of costs to restore the underlying asset. The right-of-use asset is depreciated over the lease term.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commence-ment date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group\u2019s incremental borrowing rate. The lease liability is measured
at amortized cost using the effective interest method. Lease payments included in the measurement of the lease liability comprise the following: fixed payments and variable lease payments that depend on an index or a rate. An option to extend the lease term is included in the lease term if it is rea-sonably certain that the option will be exercised.
The lease term for renewable leases is determined based on non-cancelable lease term of the contract and manage-ment judgement based on estimate of the likely rental period.
The Group has elected not to recognize right-of-use assets and lease liabilities for short-term leases (max. 12 months) and leases of low-value assets. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.
Marimekko is a lessee. Lease contracts include headquar-ter and printing facilities in Helsinki, retail stores in Finland and other countries where Marimekko operates as well as company housing and leasing cars. In general, lease contracts vary from 1 year to 15 years.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__42": { "value": "Inventories
Inventories are presented at the acquisition cost or at the lower probable net realization value. The acquisition cost of manufactured inventories includes not only purchase expenditure on materials, direct labor and other direct costs, but also a share of the fixed and variable general costs of production. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated direct costs for completion and selling expenses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__43": { "value": "Financial assets
Financial assets are classified based on the Group\u2019s finan-cial asset management business model and their contrac-tual cash flow characteristics into the following categories:
measured at amortized cost and measured at fair value through profit or loss.
Financial assets measured at amortized cost consist of other financial assets, trade receivables, other receivables, prepaid expenses and accrued income, as well as cash and cash equivalents. They are initially recognized at fair value and subsequently at amortized cost using the effective interest method.
For the estimation of expected credit losses on trade receivables, the so-called simplified approach permitted by IFRS 9 is used, according to which credit losses are recorded at an amount equal to lifetime expected credit losses. Expected credit losses are estimated based on historical credit losses, and the model also takes into account the infor-mation available on future financial conditions at the time of review. Expected credit losses are recognized in other operat-ing expenses in the income statement.
A final impairment of trade receivables is recognized when there is objective evidence that the Group will not receive all of the benefits on the original terms. Indications of the impair-ment of trade receivables include significant financial difficul-ties of the debtor, the likelihood of bankruptcy, failure to make payments, or a delay of over 90 days in paying. Impairment loss is recognized under other operating expenses in the income statement.
Financial assets measured at fair value through profit or loss comprise shares and they are included in noncurrent assets, unless it is intended that they will be held for less than 12 months from the closing date, in which case they are included in current assets. The fair value of financial assets and liabilities classified as level 1 is based on unadjusted quoted prices in active markets at the closing date. Level 1 includes listed shares.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__45-1": { "value": "Financial assets
Financial assets are classified based on the Group\u2019s finan-cial asset management business model and their contrac-tual cash flow characteristics into the following categories:
measured at amortized cost and measured at fair value through profit or loss.
Financial assets measured at amortized cost consist of other financial assets, trade receivables, other receivables, prepaid expenses and accrued income, as well as cash and cash equivalents. They are initially recognized at fair value and subsequently at amortized cost using the effective interest method.
For the estimation of expected credit losses on trade receivables, the so-called simplified approach permitted by IFRS 9 is used, according to which credit losses are recorded at an amount equal to lifetime expected credit losses. Expected credit losses are estimated based on historical credit losses, and the model also takes into account the infor-mation available on future financial conditions at the time of review. Expected credit losses are recognized in other operat-ing expenses in the income statement.
A final impairment of trade receivables is recognized when there is objective evidence that the Group will not receive all of the benefits on the original terms. Indications of the impair-ment of trade receivables include significant financial difficul-ties of the debtor, the likelihood of bankruptcy, failure to make payments, or a delay of over 90 days in paying. Impairment loss is recognized under other operating expenses in the income statement.
Financial assets measured at fair value through profit or loss comprise shares and they are included in noncurrent assets, unless it is intended that they will be held for less than 12 months from the closing date, in which case they are included in current assets. The fair value of financial assets and liabilities classified as level 1 is based on unadjusted quoted prices in active markets at the closing date. Level 1 includes listed shares.
Financial liabilities
Financial liabilities are initially recognized at fair value excluding transaction costs and subsequently at amortized cost using the effective interest method. Financial liabilities are non-current, unless they are repayable on demand within the next 12 months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__44": { "value": "For the estimation of expected credit losses on trade receivables, the so-called simplified approach permitted by IFRS 9 is used, according to which credit losses are recorded at an amount equal to lifetime expected credit losses. Expected credit losses are estimated based on historical credit losses, and the model also takes into account the infor-mation available on future financial conditions at the time of review. Expected credit losses are recognized in other operat-ing expenses in the income statement.
A final impairment of trade receivables is recognized when there is objective evidence that the Group will not receive all of the benefits on the original terms. Indications of the impair-ment of trade receivables include significant financial difficul-ties of the debtor, the likelihood of bankruptcy, failure to make payments, or a delay of over 90 days in paying. Impairment loss is recognized under other operating expenses in the income statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__46": { "value": "Financial assets measured at fair value through profit or loss comprise shares and they are included in noncurrent assets, unless it is intended that they will be held for less than 12 months from the closing date, in which case they are included in current assets. The fair value of financial assets and liabilities classified as level 1 is based on unadjusted quoted prices in active markets at the closing date. Level 1 includes listed shares. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__47": { "value": "Cash and cash equivalents
The Group\u2019s cash and cash equivalents include cash on hand and at banks. The Group does not have any other items clas-sified as cash and cash equivalents.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__48": { "value": "Dividends, shareholders\u2019 equity and treasury shares
The Board of Directors\u2019 proposal for dividend distribution has not been recognized in the financial statements; dividends are only recognized on the basis of the AGM\u2019s approval.
Outstanding common shares are presented as share capital. Costs related to the granting or acquisition of the company\u2019s own equity instruments are presented as equity allowance. If the company purchases its own shares, the price including direct costs is recognized as decrease in equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__49": { "value": "Dividends, shareholders\u2019 equity and treasury shares
The Board of Directors\u2019 proposal for dividend distribution has not been recognized in the financial statements; dividends are only recognized on the basis of the AGM\u2019s approval.
Outstanding common shares are presented as share capital. Costs related to the granting or acquisition of the company\u2019s own equity instruments are presented as equity allowance. If the company purchases its own shares, the price including direct costs is recognized as decrease in equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__50": { "value": "Financial liabilities
Financial liabilities are initially recognized at fair value excluding transaction costs and subsequently at amortized cost using the effective interest method. Financial liabilities are non-current, unless they are repayable on demand within the next 12 months.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__52-1": { "value": "New standards and interpretations and change in accounting principles
These consolidated financial statements have been pre-pared using the same accounting principles as were applied in 2024. The new and amended IFRS accounting standards that came into effect during 2025 have no material effect on the financial statements.
Adoption of new and amended standards in future financial years
According to the company's preliminary assessment, the following new and amended IFRS accounting standards
applied in future financial periods may have an impact on the consolidated financial statements: IFRS 18 Presentation and Disclosure in Financial Statements (effective for financial years beginning on or after 1 January 2027, early application is permitted).
IFRS 18 will replace IAS 1 Presentation of Financial Statements. The key new requirements are as follows:
Income and expenses in the income statement are to be classified into three new defined categories\u2014operating, investing and financing\u2014and two new subtotals are to be presented: \u201cOperating profit or loss\u201d and \u201cProfit or loss before financing and income tax\u201d.
Disclosures about management-defined performance measures (MPMs) in the financial statements are to be presented. MPMs are subtotals of income and expenses used in public communications to communicate manage-ment\u2019s view of the company\u2019s financial performance.
Information is to be disclosed based on enhanced gen-eral requirements on aggregation and disaggregation. In addition, specific requirements to disaggregate certain expenses, in the notes, will be required for companies that present operating expenses by function in the income statement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__53": { "value": "New standards and interpretations and change in accounting principles
These consolidated financial statements have been pre-pared using the same accounting principles as were applied in 2024. The new and amended IFRS accounting standards that came into effect during 2025 have no material effect on the financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__54": { "value": "New standards and interpretations and change in accounting principles
These consolidated financial statements have been pre-pared using the same accounting principles as were applied in 2024. The new and amended IFRS accounting standards that came into effect during 2025 have no material effect on the financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__57": { "value": "1. SEGMENT INFORMATION AND DISTRIBUTION OF SALES
The Group\u2019s business segment is the Marimekko business. The segment information presented by the Group is based on internal reporting to the chief operational decision-maker. The President and CEO of the company acts as the chief operational decision-maker.
The total amount of assets in Finland was EUR 105.3 million (110.4), of which the amount of non-current assets excluding financial instruments and deferred tax assets was EUR 29.7 million (27.4). The amount of assets in other countries was EUR 25.0 million (20.0), of which non-current assets accounted for EUR 6.4 million (8.0).
Marimekko has no individual customers representing 10 percent or more of the Group\u2019s total income.
Net sales by market area
(EUR million) | 2025 | 2024 |
Finland | ||
Retail sales | 70.9 | 70.6 |
Wholesale sales | 30.5 | 30.1 |
Licencing income | 1.0 | 0.3 |
Total | 102.4 | 101.0 |
Scandinavia\u00a0 | ||
Retail sales | 7.3 | 5.6 |
Wholesale sales | 13.1 | 12.7 |
Licencing income | 0.1 | 0.2 |
Total | 20.5 | 18.5 |
Europe1 | ||
Retail sales | 4.3 | 3.6 |
Wholesale sales | 10.5 | 8.8 |
Licencing income | 0.5 | 0.6 |
Total | 15.3 | 13.1 |
North America\u00a0 | ||
Retail sales | 6.4 | 5.6 |
Wholesale sales | 4.6 | 4.7 |
Licencing income | 0.5 | 0.5 |
Total | 11.5 | 10.8 |
(EUR million) | 2025 | 2024 |
Asia-Pacific\u00a0 | ||
Retail sales | 8.8 | 8.1 |
Wholesale sales | 31.0 | 29.2 |
Licencing income | 0.3 | 2.0 |
Total | 40.0 | 39.2 |
International sales (total) | ||
Retail sales | 26.8 | 22.9 |
Wholesale sales | 59.1 | 55.4 |
Licencing income | 1.3 | 3.2 |
Total | 87.2 | 81.6 |
Retail sales | 97.7 | 93.6 |
Wholesale sales | 89.6 | 85.5 |
Licencing income | 2.3 | 3.5 |
Total | 189.6 | 182.6 |
Net sales by product line
(EUR million) | 2025 | 2024 |
Fashion | 67.2 | 60.2 |
Home | 83.3 | 82.3 |
Bags and accessories | 39.1 | 40.1 |
Total | 189.6 | 182.6 |
Investments(excluding the impact of IFRS 16)
(EUR million) | 2025 | 2024 |
Finland | 2.4 | 2.1 |
Other countries | 0.4 | 0.2 |
Total | 2.9 | 2.3 |
1Europe (previously EMEA) includes European countries excluding Finland and Scandinavia. The name change of the market area does not affect the figures reported from the market area during the review or comparison period.
1. SEGMENT INFORMATION AND DISTRIBUTION OF SALES
The Group\u2019s business segment is the Marimekko business. The segment information presented by the Group is based on internal reporting to the chief operational decision-maker. The President and CEO of the company acts as the chief operational decision-maker.
The total amount of assets in Finland was EUR 105.3 million (110.4), of which the amount of non-current assets excluding financial instruments and deferred tax assets was EUR 29.7 million (27.4). The amount of assets in other countries was EUR 25.0 million (20.0), of which non-current assets accounted for EUR 6.4 million (8.0).
Marimekko has no individual customers representing 10 percent or more of the Group\u2019s total income.
Net sales by market area
(EUR million) | 2025 | 2024 |
Finland | ||
Retail sales | 70.9 | 70.6 |
Wholesale sales | 30.5 | 30.1 |
Licencing income | 1.0 | 0.3 |
Total | 102.4 | 101.0 |
Scandinavia\u00a0 | ||
Retail sales | 7.3 | 5.6 |
Wholesale sales | 13.1 | 12.7 |
Licencing income | 0.1 | 0.2 |
Total | 20.5 | 18.5 |
Europe1 | ||
Retail sales | 4.3 | 3.6 |
Wholesale sales | 10.5 | 8.8 |
Licencing income | 0.5 | 0.6 |
Total | 15.3 | 13.1 |
North America\u00a0 | ||
Retail sales | 6.4 | 5.6 |
Wholesale sales | 4.6 | 4.7 |
Licencing income | 0.5 | 0.5 |
Total | 11.5 | 10.8 |
(EUR million) | 2025 | 2024 |
Asia-Pacific\u00a0 | ||
Retail sales | 8.8 | 8.1 |
Wholesale sales | 31.0 | 29.2 |
Licencing income | 0.3 | 2.0 |
Total | 40.0 | 39.2 |
International sales (total) | ||
Retail sales | 26.8 | 22.9 |
Wholesale sales | 59.1 | 55.4 |
Licencing income | 1.3 | 3.2 |
Total | 87.2 | 81.6 |
Retail sales | 97.7 | 93.6 |
Wholesale sales | 89.6 | 85.5 |
Licencing income | 2.3 | 3.5 |
Total | 189.6 | 182.6 |
Net sales by product line
(EUR million) | 2025 | 2024 |
Fashion | 67.2 | 60.2 |
Home | 83.3 | 82.3 |
Bags and accessories | 39.1 | 40.1 |
Total | 189.6 | 182.6 |
Investments(excluding the impact of IFRS 16)
(EUR million) | 2025 | 2024 |
Finland | 2.4 | 2.1 |
Other countries | 0.4 | 0.2 |
Total | 2.9 | 2.3 |
1Europe (previously EMEA) includes European countries excluding Finland and Scandinavia. The name change of the market area does not affect the figures reported from the market area during the review or comparison period.
2. OTHER OPERATING INCOME
(EUR million) | 2025 | 2024 |
Rental income | 0.1 | 0.1 |
Other income | 0.1 | 0.1 |
Total | 0.1 | 0.1 |
6. OTHER OPERATING EXPENSES
(EUR million) | 2025 | 2024 |
Leases | 2.4 | 2.5 |
Marketing | 10.5 | 10.6 |
Management and maintenance of business premises | 1.8 | 1.6 |
IT-expenses | 7.2 | 6.2 |
Administration | 4.2 | 4.5 |
Other expenses | 9.2 | 8.6 |
Total | 35.4 | 34.0 |
Exchange rate differences included in other operating expenses | ||
Exchange rate gains (-) / losses (+) on sales | 0.5 | 0.0 |
Rents
(EUR million) | 2025 | 2024 |
Low-value rents | 0.5 | 0.5 |
Variable rents | 1.9 | 2.0 |
Total | 2.4 | 2.5 |
Auditor's fee
(EUR million) | 2025 | 2024 |
KPMG | ||
Audit | 0.1 | 0.1 |
Assignments referred to in Section 1, Subsection 1, Paragraph 2 of the Auditing Act | 0.1 | 0.0 |
Tax advice | 0.0 | 0.0 |
Other services | 0.0 | 0.0 |
Total | 0.2 | 0.2 |
Others | ||
Audit | 0.0 | 0.0 |
Total | 0.0 | 0.0 |
Remuneration to KPMG Oy Ab on other services to Marimekko Group companies: EUR 0.0 million (0.0).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__61": { "value": "3. RAW MATERIALS AND CONSUMABLES
(EUR million) | 2025 | 2024 |
Materials and supplies | ||
Purchases during the financial year | 49.2 | 51.4 |
Increase (-) / decrease (+) in inventories | 0.1 | -0.5 |
Total | 49.3 | 51.0 |
External services | 26.0 | 27.0 |
Total | 75.3 | 77.9 |
Exchange rate differences included in raw materials and consumables | ||
Exchange rate gains (-) / losses (+) on purchases | -0.2 | 0.2 |
4. EMPLOYEE BENEFIT EXPENSES
(EUR million) | 2025 | 2024 |
Salaries, wages and bonuses | 29.5 | 28.3 |
Share-based payments | 0.5 | 0.5 |
Pension expenses \u2013 defined contribution plans | 4.3 | 4.0 |
Other indirect social expenditure | 3.3 | 3.1 |
Total | 37.5 | 35.9 |
Average number of employees
2025 | 2024 | |
Salaried employees | 468 | 450 |
Production personnel | 18 | 16 |
Total | 486 | 466 |
Management's employee benefits
Paid remuneration of the President and CEO and other members of the Management Group
(EUR million) | 2025 | 2024 |
Mika Ihamuotila, Chair of the Board4 | 0.1 | 0.1 |
Tiina Alahuhta-Kasko, President and CEO | 0.6 | 0.5 |
Other members of the Management Group | 2.5 | 2.4 |
Total | 3.1 | 3.0 |
Share-based incentive system
(EUR million) | 2025 | 2024 |
Tiina Alahuhta-Kasko, President and CEO | 0.1 | 0.1 |
Other members of the Management Group | 0.4 | 0.4 |
Total | 0.5 | 0.5 |
The note on share-based incentive system is presented as accrual basis.
Pensions
(EUR million) | 2025 | 2024 |
Mika Ihamuotila, Chair of the Board 4 | 0.0 | 0.0 |
Tiina Alahuhta-Kasko, President and CEO | 0.1 | 0.1 |
Other members of the Management Group | 0.3 | 0.3 |
Total | 0.4 | 0.4 |
Remuneration to the Board of Directors
(EUR million) | 2025 | 2024 |
Carol Chen | 0.0 | 0.0 |
Mika Ihamuotila | 0.1 | 0.1 |
Tomoki Takebayashi | 0.0 | 0.0 |
Marianne Vikkula | 0.0 | 0.0 |
Teemu Kangas-K\u00e4rki | 0.1 | 0.1 |
Massimiliano Brunazzo | 0.0 | 0.0 |
Total | 0.2 | 0.2 |
Management's employee benefits, total | 4.2 | 4.1 |
Pension benefits include only statutory pension payments. The management does not have additional pension benefits.
The President and CEO is due other remuneration of EUR 120,426.00 from 2025 in recognition of her key contribution to the achievement of the company\u2019s strategic objectives and the promotion of long term value creation. The remuneration will be paid in 2026.
Related parties are among beneficiaries of a share-based incentive system. The mana-gement's long-term incentive system is presented in greater detail in note 4 to the financial statements.
1Marimekko Corporation has a branch in France.
2Marimekko AB has a branch in Norway.
3Marimekko Trading (Shanghai) Co., Ltd has a branch in China.
4Fee paid to Mika Ihamuotila for half-time duty pursuant to a separate service agreement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__63": { "value": "Average number of employees
2025 | 2024 | |
Salaried employees | 468 | 450 |
Production personnel | 18 | 16 |
Total | 486 | 466 |
Share-based payments
The Board of Directors of Marimekko Corporation decided at 15th of February 2022 to continue the share-based long-term incentives for the company\u2019s management. The share-based incenti-ve system for years 2022\u20132026 is targeted to the Management Group of Marimekko and at the end of financial period, it encompasses 11 people including the President and CEO.
The Performance share plan 2022\u20132026 is composed of two earnings periods: 1 January 2022\u201330 June 2025 and 1 January 2023\u201330 June 2026. The potential reward from each earnings period is based on total shareholder return (TSR) i.e. the total yield on Marimekko Corporation\u2019s shares, including dividends, at the end of the period. The achievement of the required TSR levels will determine the proportion out of the maximum reward that will be paid to a participant. The potential rewards are primarily planned to be paid half in company shares and half in cash after each earnings period. The cash part of the reward is intended to cover the taxes and tax-like payments incurred by the participant. The arrangement is treated entirely as equity paid. Earning the reward requires that the person is still working for the company at the time of the payment. The reward amounts earned through the system will be capped if the maximum limit set by the Board for the payable reward is reached. The shares received as part of the reward are subject to a two-year transfer restriction. An estimate of the fair value of possible rewards is recorded evenly over the entire duration of the program as employee benefits expenses.
For the first earnings period ending on 30 June 2025, the Board of Directors decided, in accordance with the terms of the plan, to pay the earned rewards fully in cash. Rewards were paid to all ten people comprised in the first earnings period, including the President and CEO.
The Board of Directors has decided that if the targets set for the second earnings period of 1 January 2023\u201330 June 2026 are met in full, the rewards to be paid on the basis of the period correspond to the value of an approximate maximum total of 290,148 Marimekko shares including also the cash portion of the reward. The potential rewards from the second earnings period are estimated to be paid at the latest by the end of September 2026.
For the financial year 2025, a total of EUR 0.5 million (0.5) has been recorded from the incentive system for years 2022\u20132026 in the employee benefits expenses in the Marimekko Group's 2025 consolidated income statement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__65": { "value": "5. DEPRECIATION AND IMPAIRMENTS
(EUR million) | 2025 | 2024 |
Intangible assets | ||
Intangible rights | 0.1 | 0.1 |
Computer software | 0.3 | 0.1 |
Total | 0.3 | 0.1 |
Tangible assets | ||
Buildings and structures | 0.4 | 0.3 |
Machinery and equipment | 0.6 | 0.6 |
Right-of-use assets, buildings and structures | 8.6 | 8.2 |
Right-of-use assets, machinery and equipment | 0.1 | 0.1 |
Total | 9.7 | 9.2 |
Total | 10.0 | 9.3 |
6. OTHER OPERATING EXPENSES
(EUR million) | 2025 | 2024 |
Leases | 2.4 | 2.5 |
Marketing | 10.5 | 10.6 |
Management and maintenance of business premises | 1.8 | 1.6 |
IT-expenses | 7.2 | 6.2 |
Administration | 4.2 | 4.5 |
Other expenses | 9.2 | 8.6 |
Total | 35.4 | 34.0 |
Exchange rate differences included in other operating expenses | ||
Exchange rate gains (-) / losses (+) on sales | 0.5 | 0.0 |
Rents
(EUR million) | 2025 | 2024 |
Low-value rents | 0.5 | 0.5 |
Variable rents | 1.9 | 2.0 |
Total | 2.4 | 2.5 |
Auditor's fee
(EUR million) | 2025 | 2024 |
KPMG | ||
Audit | 0.1 | 0.1 |
Assignments referred to in Section 1, Subsection 1, Paragraph 2 of the Auditing Act | 0.1 | 0.0 |
Tax advice | 0.0 | 0.0 |
Other services | 0.0 | 0.0 |
Total | 0.2 | 0.2 |
Others | ||
Audit | 0.0 | 0.0 |
Total | 0.0 | 0.0 |
Remuneration to KPMG Oy Ab on other services to Marimekko Group companies: EUR 0.0 million (0.0).
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__68-1": { "value": "Rents
(EUR million) | 2025 | 2024 |
Low-value rents | 0.5 | 0.5 |
Variable rents | 1.9 | 2.0 |
Total | 2.4 | 2.5 |
11.2 Tangible assets
2025
(EUR million) | Land | Buildings andstructures | Machinery and equipment | Right-of-use assets, buildings ans structures | Right-of-use assets, Machinery and equipment | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2025 | 0.1 | 6.2 | 21.4 | 85.1 | 0.7 | 0.1 | 113.6 |
Translation differences | -0.1 | -0.5 | -1.4 | -2.0 | |||
Increases | 0.1 | 0.5 | 8.0 | 0.1 | 0.6 | 9.2 | |
Decreases | 0.0 | -2.5 | -1.5 | -1.8 | -5.9 | ||
Transfers between categories | 0.1 | 0.6 | -0.6 | - | |||
Acquisition cost, 31 Dec. 2025 | 0.1 | 3.7 | 20.4 | 89.8 | 0.9 | 0.0 | 114.9 |
Accumulated depreciation, 1 Jan. 2025 | 3.8 | 19.0 | 56.9 | 0.6 | 80.3 | ||
Translation differences | -0.1 | -0.5 | -1.1 | -1.7 | |||
Accumulated depreciation of decreases | -2.5 | -1.5 | -1.8 | -5.8 | |||
Depreciation during the financial year | 0.4 | 0.6 | 8.6 | 0.1 | 9.7 | ||
Accumulated depreciation, 31 Dec. 2025 | 1.6 | 17.6 | 62.6 | 0.7 | 82.5 | ||
Book value, 31 Dec. 2025 | 0.1 | 2.2 | 2.8 | 27.2 | 0.2 | 0.0 | 32.4 |
2024
(EUR million) | Land | Buildings andstructures | Machinery and equipment | Right-of-use assets, buildings ans structures | Right-of-use assets, Machinery and equipment | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2024 | 0.1 | 6.0 | 20.4 | 78.8 | 0.7 | 0.1 | 106.0 |
Translation differences | 0.0 | 0.2 | 0.1 | 0.4 | |||
Increases | 0.1 | 0.3 | 6.9 | 0.0 | 0.6 | 7.9 | |
Decreases | -0.7 | -0.7 | |||||
Transfers between categories | 0.1 | 0.5 | -0.6 | - | |||
Acquisition cost, 31 Dec. 2024 | 0.1 | 6.2 | 21.4 | 85.1 | 0.7 | 0.1 | 113.6 |
Accumulated depreciation, 1 Jan. 2024 | 3.5 | 18.2 | 48.8 | 0.5 | 70.9 | ||
Translation differences | 0.0 | 0.2 | 0.2 | 0.4 | |||
Accumulated depreciation of decreases | -0.2 | -0.2 | |||||
Depreciation during the financial year | 0.3 | 0.6 | 8.2 | 0.1 | 9.2 | ||
Accumulated depreciation, 31 Dec. 2024 | 3.8 | 19.0 | 56.9 | 0.6 | 80.3 | ||
Book value, 31 Dec. 2024 | 0.1 | 2.4 | 2.5 | 28.2 | 0.1 | 0.1 | 33.3 |
15.1 Non-current liabilities
(EUR million) | 2025 | 2024 |
Lease liabilities | 21.5 | 22.3 |
Total | 21.5 | 22.3 |
15.2 Current liabilities
(EUR million) | 2025 | 2024 |
Lease liabilities | 8.2 | 8.3 |
Total | 8.2 | 8.3 |
18. GUARANTEES, CONTINGENT LIABILITIES AND OTHER COMMITMENTS
(EUR million) | 2025 | 2024 |
Other own liabilities and commitments | ||
Lease liabilities for machinery and equipment | 1.1 | 1.1 |
Lease liabilities relate to low-value and short-term leases not recorded in the balance sheet.
(EUR million) | 2025 | 2024 |
Guarantees | 5.2 | 4.3 |
Guarantees are related to letter of credits, rental and customs guarantees.
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__69": { "value": "Auditor's fee
(EUR million) | 2025 | 2024 |
KPMG | ||
Audit | 0.1 | 0.1 |
Assignments referred to in Section 1, Subsection 1, Paragraph 2 of the Auditing Act | 0.1 | 0.0 |
Tax advice | 0.0 | 0.0 |
Other services | 0.0 | 0.0 |
Total | 0.2 | 0.2 |
Others | ||
Audit | 0.0 | 0.0 |
Total | 0.0 | 0.0 |
Remuneration to KPMG Oy Ab on other services to Marimekko Group companies: EUR 0.0 million (0.0).
", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__70-1": { "value": "7. FINANCIAL INCOME
(EUR million) | 2025 | 2024 |
Interest income on loans and other receivables | 0.4 | 0.6 |
Exchange rate gains, realized | 0.1 | 0.1 |
Exchange rate gains, unrealized | 0.1 | 0.6 |
Change in fair value of shares | 0.0 | - |
Total | 0.5 | 1.2 |
8. FINANCIAL EXPENSES
(EUR million) | 2025 | 2024 |
Interest expenses on financial liabilities measured at amortized cost | 0.1 | 0.1 |
Interest expenses on lease liabities | 1.0 | 1.0 |
Exchange rate losses, realized | 0.1 | 0.1 |
Exchange rate losses, unrealized | 0.7 | 0.2 |
Change in fair value of shares | - | 0.1 |
Other financial expenses | 0.0 | 0.1 |
Total | 1.9 | 1.6 |
7. FINANCIAL INCOME
(EUR million) | 2025 | 2024 |
Interest income on loans and other receivables | 0.4 | 0.6 |
Exchange rate gains, realized | 0.1 | 0.1 |
Exchange rate gains, unrealized | 0.1 | 0.6 |
Change in fair value of shares | 0.0 | - |
Total | 0.5 | 1.2 |
8. FINANCIAL EXPENSES
(EUR million) | 2025 | 2024 |
Interest expenses on financial liabilities measured at amortized cost | 0.1 | 0.1 |
Interest expenses on lease liabities | 1.0 | 1.0 |
Exchange rate losses, realized | 0.1 | 0.1 |
Exchange rate losses, unrealized | 0.7 | 0.2 |
Change in fair value of shares | - | 0.1 |
Other financial expenses | 0.0 | 0.1 |
Total | 1.9 | 1.6 |
9. INCOME TAXES
(EUR million) | 2025 | 2024 |
Taxes on taxable earnings for the financial year | 5.8 | 6.3 |
Taxes from previous financial years | 0.0 | 0.2 |
Deferred taxes | 0.3 | 0.1 |
Total | 6.1 | 6.6 |
Reconciliation statement of taxes calculated on the basis of tax expenses in the income statement and the Group's Finnish tax rate (20 percent both in 2025 and 2024) | ||
Result before taxes | 30.4 | 31.0 |
Taxes calculated at the Finnish tax rate | 6.1 | 6.2 |
Different tax rates of foreign subsidiaries | 0.0 | 0.0 |
Non-recognized deferred tax assets on taxable losses | 0.0 | 0.1 |
Taxes from previous financial years | 0.0 | 0.2 |
Non-deductible items | 0.0 | 0.0 |
Others | 0.0 | 0.1 |
Taxes in the income statement | 6.1 | 6.6 |
10. EARNINGS PER SHARE
2025 | 2024 | |
Net result for the period, EUR million | 24.4 | 24.4 |
Weighted average number of shares, 1,000,000 | 40.6 | 40.6 |
Basic and diluted earnings per share, EUR | 0.60 | 0.60 |
11.1 Intangible assets
2025
(EUR million) | Intangible rights | Computer software | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2025 | 2.7 | 8.1 | 0.5 | 11.3 |
Translation differences | 0.0 | 0.1 | 0.1 | |
Increases | 0.0 | 0.1 | 1.7 | 1.8 |
Decreases | -1.7 | -3.9 | -5.6 | |
Transfers between categories | 1.1 | -1.1 | - | |
Acquisition cost, 31 Dec. 2025 | 1.0 | 5.5 | 1.1 | 7.6 |
Accumulated depreciation, 1 Jan. 2025 | 2.5 | 7.1 | 9.6 | |
Translation differences | 0.0 | 0.1 | 0.1 | |
Accumulated depreciation of decreases | -1.7 | -3.9 | -5.6 | |
Depreciation during the financial year | 0.1 | 0.3 | 0.3 | |
Accumulated depreciation, 31 Dec. 2025 | 0.9 | 3.6 | 4.5 | |
Book value, 31 Dec. 2025 | 0.1 | 1.9 | 1.1 | 3.1 |
2024
(EUR million) | Intangible rights | Computer software | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2024 | 2.6 | 7.1 | 0.2 | 10.0 |
Translation differences | 0.0 | 0.0 | 0.0 | |
Increases | 0.0 | 0.0 | 1.2 | 1.3 |
Transfers between categories | 1.0 | -1.0 | - | |
Acquisition cost, 31 Dec. 2024 | 2.7 | 8.1 | 0.5 | 11.3 |
Accumulated depreciation, 1 Jan. 2024 | 2.5 | 7.0 | 9.5 | |
Translation differences | 0.0 | 0.0 | 0.0 | |
Depreciation during the financial year | 0.1 | 0.1 | 0.1 | |
Accumulated depreciation, 31 Dec. 2024 | 2.5 | 7.1 | 9.6 | |
Book value, 31 Dec. 2024 | 0.2 | 1.0 | 0.5 | 1.6 |
11.1 Intangible assets
2025
(EUR million) | Intangible rights | Computer software | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2025 | 2.7 | 8.1 | 0.5 | 11.3 |
Translation differences | 0.0 | 0.1 | 0.1 | |
Increases | 0.0 | 0.1 | 1.7 | 1.8 |
Decreases | -1.7 | -3.9 | -5.6 | |
Transfers between categories | 1.1 | -1.1 | - | |
Acquisition cost, 31 Dec. 2025 | 1.0 | 5.5 | 1.1 | 7.6 |
Accumulated depreciation, 1 Jan. 2025 | 2.5 | 7.1 | 9.6 | |
Translation differences | 0.0 | 0.1 | 0.1 | |
Accumulated depreciation of decreases | -1.7 | -3.9 | -5.6 | |
Depreciation during the financial year | 0.1 | 0.3 | 0.3 | |
Accumulated depreciation, 31 Dec. 2025 | 0.9 | 3.6 | 4.5 | |
Book value, 31 Dec. 2025 | 0.1 | 1.9 | 1.1 | 3.1 |
2024
(EUR million) | Intangible rights | Computer software | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2024 | 2.6 | 7.1 | 0.2 | 10.0 |
Translation differences | 0.0 | 0.0 | 0.0 | |
Increases | 0.0 | 0.0 | 1.2 | 1.3 |
Transfers between categories | 1.0 | -1.0 | - | |
Acquisition cost, 31 Dec. 2024 | 2.7 | 8.1 | 0.5 | 11.3 |
Accumulated depreciation, 1 Jan. 2024 | 2.5 | 7.0 | 9.5 | |
Translation differences | 0.0 | 0.0 | 0.0 | |
Depreciation during the financial year | 0.1 | 0.1 | 0.1 | |
Accumulated depreciation, 31 Dec. 2024 | 2.5 | 7.1 | 9.6 | |
Book value, 31 Dec. 2024 | 0.2 | 1.0 | 0.5 | 1.6 |
11.2 Tangible assets
2025
(EUR million) | Land | Buildings andstructures | Machinery and equipment | Right-of-use assets, buildings ans structures | Right-of-use assets, Machinery and equipment | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2025 | 0.1 | 6.2 | 21.4 | 85.1 | 0.7 | 0.1 | 113.6 |
Translation differences | -0.1 | -0.5 | -1.4 | -2.0 | |||
Increases | 0.1 | 0.5 | 8.0 | 0.1 | 0.6 | 9.2 | |
Decreases | 0.0 | -2.5 | -1.5 | -1.8 | -5.9 | ||
Transfers between categories | 0.1 | 0.6 | -0.6 | - | |||
Acquisition cost, 31 Dec. 2025 | 0.1 | 3.7 | 20.4 | 89.8 | 0.9 | 0.0 | 114.9 |
Accumulated depreciation, 1 Jan. 2025 | 3.8 | 19.0 | 56.9 | 0.6 | 80.3 | ||
Translation differences | -0.1 | -0.5 | -1.1 | -1.7 | |||
Accumulated depreciation of decreases | -2.5 | -1.5 | -1.8 | -5.8 | |||
Depreciation during the financial year | 0.4 | 0.6 | 8.6 | 0.1 | 9.7 | ||
Accumulated depreciation, 31 Dec. 2025 | 1.6 | 17.6 | 62.6 | 0.7 | 82.5 | ||
Book value, 31 Dec. 2025 | 0.1 | 2.2 | 2.8 | 27.2 | 0.2 | 0.0 | 32.4 |
2024
(EUR million) | Land | Buildings andstructures | Machinery and equipment | Right-of-use assets, buildings ans structures | Right-of-use assets, Machinery and equipment | Advance payments and acquisitions in progress | Total |
Acquisition cost, 1 Jan. 2024 | 0.1 | 6.0 | 20.4 | 78.8 | 0.7 | 0.1 | 106.0 |
Translation differences | 0.0 | 0.2 | 0.1 | 0.4 | |||
Increases | 0.1 | 0.3 | 6.9 | 0.0 | 0.6 | 7.9 | |
Decreases | -0.7 | -0.7 | |||||
Transfers between categories | 0.1 | 0.5 | -0.6 | - | |||
Acquisition cost, 31 Dec. 2024 | 0.1 | 6.2 | 21.4 | 85.1 | 0.7 | 0.1 | 113.6 |
Accumulated depreciation, 1 Jan. 2024 | 3.5 | 18.2 | 48.8 | 0.5 | 70.9 | ||
Translation differences | 0.0 | 0.2 | 0.2 | 0.4 | |||
Accumulated depreciation of decreases | -0.2 | -0.2 | |||||
Depreciation during the financial year | 0.3 | 0.6 | 8.2 | 0.1 | 9.2 | ||
Accumulated depreciation, 31 Dec. 2024 | 3.8 | 19.0 | 56.9 | 0.6 | 80.3 | ||
Book value, 31 Dec. 2024 | 0.1 | 2.4 | 2.5 | 28.2 | 0.1 | 0.1 | 33.3 |
11.3 Other financial assets
(EUR million) | 2025 | 2024 |
Other financial assets | 0.6 | 0.5 |
Other financial assets comprise listed shares and bonds.
17. FINANCIAL ASSETS AND LIABILITIES
Financial assets measured at fair value through profit or loss
(EUR million) | 2025 | 2024 |
Other financial assets | 0.2 | 0.2 |
Financial assets measured at fair value through profit or loss comprise listed shares and bonds.
Financial assets measured at amortized cost
(EUR million) | 2025 | 2024 |
Other financial assets | 0.3 | 0.3 |
Trade receivables | 16.0 | 13.6 |
Other receivables, prepaid expenses and accrued income | 4.7 | 4.0 |
Cash and cash equivalents | 36.6 | 40.4 |
Financial liabilities measured at amortized cost
(EUR million) | 2025 | 2024 |
Trade payables | 11.3 | 9.3 |
Other liabilities | 15.2 | 14.9 |
The fair value of financial assets and financial liabilities measured at amortized cost equals their book value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__81": { "value": "11.3 Other financial assets
(EUR million) | 2025 | 2024 |
Other financial assets | 0.6 | 0.5 |
Other financial assets comprise listed shares and bonds.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__82": { "value": "11.3 Other financial assets
(EUR million) | 2025 | 2024 |
Other financial assets | 0.6 | 0.5 |
Other financial assets comprise listed shares and bonds.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__83": { "value": "12.1 Inventories
(EUR million) | 2025 | 2024 |
Raw materials and consumables | 5.6 | 5.8 |
Finished products/goods | 30.0 | 29.7 |
Total | 35.6 | 35.4 |
Impairment of inventories | -0.5 | -0.5 |
12.2 Trade and other receivables
(EUR million) | 2025 | 2024 |
Trade receivables | 16.0 | 13.6 |
Other receivables | 1.8 | 1.2 |
Prepaid expenses and accrued income | 2.9 | 2.9 |
Total | 20.7 | 17.7 |
Prepaid expenses and accrued income | ||
Royalty receivables | 0.4 | 0.2 |
Receivables from payment service providers | 1.0 | 0.7 |
Commission receivables | 0.1 | 0.1 |
Other prepaid expenses and accrued income | 1.5 | 1.8 |
Total | 2.9 | 2.9 |
Analysis of trade receivables by age
(EUR million) | 2025 | 2024 |
Trade receivables not past due | 11.1 | 9.6 |
Past due | ||
less than 30 days | 3.4 | 2.8 |
30\u201360 days | 0.3 | 0.7 |
more than 60 days | 1.1 | 0.5 |
Total | 16.0 | 13.6 |
The amount of credit loss provisions recognized on trade receivables, EUR 0.1 million (0.1), reduces receivables in the balance sheet. The expected credit loss risk is not material due to the Group's effective credit management policy, where the credit history of wholesale customers is monitored regularly and prepayments, guarantees and letters of credit are used when needed.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__85": { "value": "The amount of credit loss provisions recognized on trade receivables, EUR 0.1 million (0.1), reduces receivables in the balance sheet. The expected credit loss risk is not material due to the Group's effective credit management policy, where the credit history of wholesale customers is monitored regularly and prepayments, guarantees and letters of credit are used when needed.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__86": { "value": "13. SHARES AND OTHER EQUITY
Number of shares outstanding | Share capital, EUR million | Reserve for invested non-restricted equity, EUR million | Number of treasury shares | Treasury shares, EUR million | |
1 Jan. 2024 | 40,571,380 | 8.0 | 1.2 | 77,790 | -0.5 |
31 Dec. 2024 | 40,571,380 | 8.0 | 1.2 | 77,790 | -0.5 |
1 Jan. 2025 | 40,571,380 | 8.0 | 1.2 | 77,790 | -0.5 |
31 Dec. 2025 | 40,571,380 | 8.0 | 1.2 | 77,790 | -0.5 |
Marimekko Corporation's Articles of Association do not specify maximum share capital. Marimekko Corporation has one series of shares; the shares do not have a nominal value. All shares in issue have been paid in full. As at 31 December 2025, Marimekko Corporation held 77,790 treasury shares. The Group does not have any share option schemes.
The Board of Directors of Marimekko proposed on 12 February 2026 to the AGM on 16 April 2026 that a dividend of EUR 0.42 per share is paid for 2025.
The reserve for invested non-restricted equity contains other equity-like investments and the share subscription price to the extent that this is not entered in share capital under a specific decision.
14. DEFERRED TAX ASSETS AND LIABILITIES
Deferred tax assets and liabilities are offset against each other where the Group has a legally enforceable right to offset deferred tax assets and liabilities based on taxable earnings for the period against each other and where they relate to income taxes levied by the same taxation authority on the same taxpayer or different taxpayers and the intention is to settle on a net basis. The amounts offset against each other are as follows:
Changes in deferred taxes in 2025
(EUR million) | 1 Jan. 2025 | Recognized in the income statement | 31 Dec. 2025 |
Deferred tax assets | |||
Internal margin of inventories | 0.5 | -0.1 | 0.4 |
Lease agreements | 6.6 | -0.3 | 6.3 |
Intangible assets | 0.5 | -0.1 | 0.4 |
Total | 7.6 | -0.6 | 7.1 |
Deferred tax liabilities | |||
Accumulated depreciation difference | -0.3 | 0.0 | -0.3 |
Lease agreements | -6.2 | 0.3 | -5.8 |
Fixed costs included in inventories | -0.2 | 0.0 | -0.3 |
Total | -6.7 | 0.3 | -6.4 |
Deferred tax asset, net | 1.0 | 0.7 |
Changes in deferred taxes in 2024
(EUR million) | 1 Jan. 2024 | Recognized in the income statement | 31 Dec. 2024 |
Deferred tax assets | |||
Internal margin of inventories | 0.4 | 0.1 | 0.5 |
Lease agreements | 6.5 | 0.2 | 6.6 |
Intangible assets | 0.7 | -0.2 | 0.5 |
Total | 7.6 | 0.0 | 7.6 |
Deferred tax liabilities | |||
Accumulated depreciation difference | -0.3 | 0.0 | -0.3 |
Lease agreements | -6.1 | -0.1 | -6.2 |
Fixed costs included in inventories | -0.2 | 0.0 | -0.2 |
Total | -6.5 | -0.2 | -6.7 |
Deferred tax asset, net | 1.1 | 1.0 |
Deferred tax assets are recognized for tax losses carried forward to the extent that the realization of the related tax benefit through future taxable profits is probable. Deferred tax assets amounting to EUR 0.0 million (0.1) have not been recognized.
14. DEFERRED TAX ASSETS AND LIABILITIES
Deferred tax assets and liabilities are offset against each other where the Group has a legally enforceable right to offset deferred tax assets and liabilities based on taxable earnings for the period against each other and where they relate to income taxes levied by the same taxation authority on the same taxpayer or different taxpayers and the intention is to settle on a net basis. The amounts offset against each other are as follows:
Changes in deferred taxes in 2025
(EUR million) | 1 Jan. 2025 | Recognized in the income statement | 31 Dec. 2025 |
Deferred tax assets | |||
Internal margin of inventories | 0.5 | -0.1 | 0.4 |
Lease agreements | 6.6 | -0.3 | 6.3 |
Intangible assets | 0.5 | -0.1 | 0.4 |
Total | 7.6 | -0.6 | 7.1 |
Deferred tax liabilities | |||
Accumulated depreciation difference | -0.3 | 0.0 | -0.3 |
Lease agreements | -6.2 | 0.3 | -5.8 |
Fixed costs included in inventories | -0.2 | 0.0 | -0.3 |
Total | -6.7 | 0.3 | -6.4 |
Deferred tax asset, net | 1.0 | 0.7 |
Changes in deferred taxes in 2024
(EUR million) | 1 Jan. 2024 | Recognized in the income statement | 31 Dec. 2024 |
Deferred tax assets | |||
Internal margin of inventories | 0.4 | 0.1 | 0.5 |
Lease agreements | 6.5 | 0.2 | 6.6 |
Intangible assets | 0.7 | -0.2 | 0.5 |
Total | 7.6 | 0.0 | 7.6 |
Deferred tax liabilities | |||
Accumulated depreciation difference | -0.3 | 0.0 | -0.3 |
Lease agreements | -6.1 | -0.1 | -6.2 |
Fixed costs included in inventories | -0.2 | 0.0 | -0.2 |
Total | -6.5 | -0.2 | -6.7 |
Deferred tax asset, net | 1.1 | 1.0 |
Deferred tax assets are recognized for tax losses carried forward to the extent that the realization of the related tax benefit through future taxable profits is probable. Deferred tax assets amounting to EUR 0.0 million (0.1) have not been recognized.
15.2 Current liabilities
(EUR million) | 2025 | 2024 |
Lease liabilities | 8.2 | 8.3 |
Total | 8.2 | 8.3 |
16. OTHER CURRENT LIABILITIES
(EUR million) | 2025 | 2024 |
Trade payables and other current liabilities | ||
Trade payables | 11.3 | 9.3 |
Other payables | 5.5 | 5.8 |
Accrued liabilities and deferred income | 7.9 | 7.3 |
Advances received | 1.8 | 1.8 |
Total | 26.4 | 24.2 |
Accrued liabilities and deferred income | ||
Employee benefits | 5.5 | 5.5 |
Unpaid designer and agent provisions | 0.8 | 0.8 |
Return accruals | 0.9 | 0.7 |
Other accrued liabilities and deferred income | 0.7 | 0.3 |
Total | 7.9 | 7.3 |
16. OTHER CURRENT LIABILITIES
(EUR million) | 2025 | 2024 |
Trade payables and other current liabilities | ||
Trade payables | 11.3 | 9.3 |
Other payables | 5.5 | 5.8 |
Accrued liabilities and deferred income | 7.9 | 7.3 |
Advances received | 1.8 | 1.8 |
Total | 26.4 | 24.2 |
Accrued liabilities and deferred income | ||
Employee benefits | 5.5 | 5.5 |
Unpaid designer and agent provisions | 0.8 | 0.8 |
Return accruals | 0.9 | 0.7 |
Other accrued liabilities and deferred income | 0.7 | 0.3 |
Total | 7.9 | 7.3 |
16. OTHER CURRENT LIABILITIES
(EUR million) | 2025 | 2024 |
Trade payables and other current liabilities | ||
Trade payables | 11.3 | 9.3 |
Other payables | 5.5 | 5.8 |
Accrued liabilities and deferred income | 7.9 | 7.3 |
Advances received | 1.8 | 1.8 |
Total | 26.4 | 24.2 |
Accrued liabilities and deferred income | ||
Employee benefits | 5.5 | 5.5 |
Unpaid designer and agent provisions | 0.8 | 0.8 |
Return accruals | 0.9 | 0.7 |
Other accrued liabilities and deferred income | 0.7 | 0.3 |
Total | 7.9 | 7.3 |
16. OTHER CURRENT LIABILITIES
(EUR million) | 2025 | 2024 |
Trade payables and other current liabilities | ||
Trade payables | 11.3 | 9.3 |
Other payables | 5.5 | 5.8 |
Accrued liabilities and deferred income | 7.9 | 7.3 |
Advances received | 1.8 | 1.8 |
Total | 26.4 | 24.2 |
Accrued liabilities and deferred income | ||
Employee benefits | 5.5 | 5.5 |
Unpaid designer and agent provisions | 0.8 | 0.8 |
Return accruals | 0.9 | 0.7 |
Other accrued liabilities and deferred income | 0.7 | 0.3 |
Total | 7.9 | 7.3 |
Financial assets measured at fair value through profit or loss
(EUR million) | 2025 | 2024 |
Other financial assets | 0.2 | 0.2 |
Financial assets measured at fair value through profit or loss comprise listed shares and bonds.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__102": { "value": "18. GUARANTEES, CONTINGENT LIABILITIES AND OTHER COMMITMENTS
(EUR million) | 2025 | 2024 |
Other own liabilities and commitments | ||
Lease liabilities for machinery and equipment | 1.1 | 1.1 |
Lease liabilities relate to low-value and short-term leases not recorded in the balance sheet.
(EUR million) | 2025 | 2024 |
Guarantees | 5.2 | 4.3 |
Guarantees are related to letter of credits, rental and customs guarantees.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__104": { "value": "19. RELATED PARTY TRANSACTIONS
The Group's related parties include the members of the Board of Directors and the Management Group, as well as their close family members and controlling entities, the Group's parent company and its subsidiaries.
The relationships of the Group's parent company and subsidiaries are as follows:
Parent company
Marimekko Corporation, Helsinki, Finland1
Subsidiaries
Company and domicile | Group's holding, % | Share of voting rights, % |
Marimekko Services Oy, Helsinki, Finland | 100 | 100 |
Marimekko AB, Stockholm, Sweden2 | 100 | 100 |
Marimekko Australia PTY Ltd, Victoria, Australia | 100 | 100 |
Marimekko GmbH, Frankfurt am Main, Germany | 100 | 100 |
Marimekko North America LLC, Delaware, United States | 100 | 100 |
Marimekko North America Retail LLC, Delaware, United States | 100 | 100 |
Marimekko North America Holding Co, Delaware, United States | 100 | 100 |
Marimekko Trading (Shanghai) Co., Ltd, Shanghai, China3 | 100 | 100 |
Marimekko UK Ltd, London, United Kingdom | 100 | 100 |
Marimekko Denmark ApS, Herlev, Denmark | 100 | 100 |
Marimekko Japan Godo Kaisha, Tokyo, Japan | 100 | 100 |
Marimekko Singapore Pte. Ltd., Singapore, Republic of Singapore | 100 | 100 |
Marimekko Korea Limited, Yongin, South Korea | 100 | 100 |
The following transactions were carried out with related parties:
Management's employee benefits
Paid remuneration of the President and CEO and other members of the Management Group
(EUR million) | 2025 | 2024 |
Mika Ihamuotila, Chair of the Board4 | 0.1 | 0.1 |
Tiina Alahuhta-Kasko, President and CEO | 0.6 | 0.5 |
Other members of the Management Group | 2.5 | 2.4 |
Total | 3.1 | 3.0 |
Share-based incentive system
(EUR million) | 2025 | 2024 |
Tiina Alahuhta-Kasko, President and CEO | 0.1 | 0.1 |
Other members of the Management Group | 0.4 | 0.4 |
Total | 0.5 | 0.5 |
The note on share-based incentive system is presented as accrual basis.
Pensions
(EUR million) | 2025 | 2024 |
Mika Ihamuotila, Chair of the Board 4 | 0.0 | 0.0 |
Tiina Alahuhta-Kasko, President and CEO | 0.1 | 0.1 |
Other members of the Management Group | 0.3 | 0.3 |
Total | 0.4 | 0.4 |
Remuneration to the Board of Directors
(EUR million) | 2025 | 2024 |
Carol Chen | 0.0 | 0.0 |
Mika Ihamuotila | 0.1 | 0.1 |
Tomoki Takebayashi | 0.0 | 0.0 |
Marianne Vikkula | 0.0 | 0.0 |
Teemu Kangas-K\u00e4rki | 0.1 | 0.1 |
Massimiliano Brunazzo | 0.0 | 0.0 |
Total | 0.2 | 0.2 |
Management's employee benefits, total | 4.2 | 4.1 |
Pension benefits include only statutory pension payments. The management does not have additional pension benefits.
The President and CEO is due other remuneration of EUR 120,426.00 from 2025 in recognition of her key contribution to the achievement of the company\u2019s strategic objectives and the promotion of long term value creation. The remuneration will be paid in 2026.
Related parties are among beneficiaries of a share-based incentive system. The mana-gement's long-term incentive system is presented in greater detail in note 4 to the financial statements.
1Marimekko Corporation has a branch in France.
2Marimekko AB has a branch in Norway.
3Marimekko Trading (Shanghai) Co., Ltd has a branch in China.
4Fee paid to Mika Ihamuotila for half-time duty pursuant to a separate service agreement.
The relationships of the Group's parent company and subsidiaries are as follows:
Parent company
Marimekko Corporation, Helsinki, Finland1
Subsidiaries
Company and domicile | Group's holding, % | Share of voting rights, % |
Marimekko Services Oy, Helsinki, Finland | 100 | 100 |
Marimekko AB, Stockholm, Sweden2 | 100 | 100 |
Marimekko Australia PTY Ltd, Victoria, Australia | 100 | 100 |
Marimekko GmbH, Frankfurt am Main, Germany | 100 | 100 |
Marimekko North America LLC, Delaware, United States | 100 | 100 |
Marimekko North America Retail LLC, Delaware, United States | 100 | 100 |
Marimekko North America Holding Co, Delaware, United States | 100 | 100 |
Marimekko Trading (Shanghai) Co., Ltd, Shanghai, China3 | 100 | 100 |
Marimekko UK Ltd, London, United Kingdom | 100 | 100 |
Marimekko Denmark ApS, Herlev, Denmark | 100 | 100 |
Marimekko Japan Godo Kaisha, Tokyo, Japan | 100 | 100 |
Marimekko Singapore Pte. Ltd., Singapore, Republic of Singapore | 100 | 100 |
Marimekko Korea Limited, Yongin, South Korea | 100 | 100 |
The following transactions were carried out with related parties:
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__107": { "value": "The note on share-based incentive system is presented as accrual basis.", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__108-1": { "value": "20. FINANCIAL RISK MANAGEMENT
During the normal course of its business operations, the Marimekko Group is exposed to financial risks. The principal financial risks are liquidity risk, credit risk, foreign currency risk and interest rate risk.
The company's Board of Directors has confirmed the principles, responsibilities and orga-nization of risk management for the Group. The Board of Directors also monitors the success of risk management. According to its risk management principles, Marimekko classifies its risks as strategic, operational, economic and accident risks. Economic risks include financial risks. Responsibility for the implementation of risk management measures concerning financial risks lies with the Group's CFO. The main objective of financial risk management is to ensure reasonab-ly-priced financing in all circumstances, and thereby minimize the unfavorable effects, if any, on the Group's financial performance.
Liquidity risk
The Group continuously seeks to assess and monitor the amount of funding required for business operations to ensure that sufficient liquid funds are available for daily business and repayment of maturing debts. The assessment is based on monthly cash flow and liquidity forecasts. The Group aims to maintain a high liquidity level at all times in order to eliminate liquidity risk. In order to minimize liquidity risk, the Group's near-term and next few years' financing needs can be covered by liquid funds as well as committed long-term or short-term credit facilities or credit facilities valid until further notice. At the end of the financial year, the Group credit facilities and revolving credit facilities totaled EUR 22.4 million (32.6). The amount of credit facilities drawn down at the end of the year was EUR 0.0 million (0.0). Revolving facilities remained unused during 2025.
Maturity analysis for the Group\u2019s financial liabilities; the figures are not discounted, and they include both interest payments and capital repayments:
31 Dec. 2025
(EUR million) | Less than 1 year | 1\u20132 years | 3\u20135 years | Over 5 years |
Lease liabilities | 9.0 | 11.1 | 5.9 | 5.9 |
Trade and other payables | 26.4 | - | - | - |
Total | 35.4 | 11.1 | 5.9 | 5.9 |
31 Dec. 2024
(EUR million) | Less than 1 year | 1\u20132 years | 3\u20135 years | Over 5 years |
Lease liabilities | 9.3 | 12.8 | 6.9 | 4.1 |
Trade and other payables | 24.2 | - | - | - |
Total | 33.4 | 12.8 | 6.9 | 4.1 |
Credit risk
The trade receivables generated in the Group\u2019s wholesale operations are associated with a credit risk, which is reduced by the Group\u2019s broad and geographically diverse clientele. Marimekko continuously monitors the credit limits, credit history and financial situation of its customers. The Group has a centralized process in place for this purpose. Responsibility for the credit monitoring process lies with the Group\u2019s CFO. The credit risk related to the wholesale business is also reduced by means of credit insurance, advance payments, bank guarantees and letters of credit.
Retail customers pay for their purchases using cash or the most common debit/credit cards.
Note 12.2 (Trade and other receivables) to the consolidated financial statements includes an analysis of trade receivables by age.
Foreign currency risk
The Group\u2019s currency risk consists of sales and purchases made in foreign currency as well as balance sheet items and foreign-currency-denominated net investments in units abroad.
Transaction risk
The Group's transaction risk derives from currency flows connected with wholesale and retail sales as well as purchases and operating expenses of the Group's business units, and from loans and receivables denominated in foreign currency. The Group\u2019s principal sales currency is the Euro. The other significant sales and invoicing currencies are the US dollar, Swedish krona, Danish krone, Norwegian krone, Australian dollar and Canadian dollar. The principal currencies used for purchases are the Euro and, to a lesser extent, the US dollar. In 2025, foreign-curren-cy-denominated sales accounted for approximately 22 percent (22) of the Group's total sales and foreign-currency-denominated purchases made up about 17 percent (19) of the Group's purchases.
Marimekko protects itself against the transaction risk of sales by taking account of the estimated exchange rate changes at the time of sale when carrying out wholesale and retail pricing of products. Foreign subsidiaries are financed primarily in local currency, so they do not incur significant transaction risk.
The Group's transaction exposure
Foreign-currency-denominated assets and liabilities (cash and cash equivalents, trade recei-vables and trade payables) converted to euro amounts using the exchange rates quoted on the closing date
2025 | 2024 | |||||
(EUR million) | USD | SEK | AUD | USD | SEK | AUD |
Current assets | 3.4 | 6.6 | 4.4 | 2.7 | 8.0 | 3.1 |
Current liabilities | -0.7 | 0.0 | -0.1 | -0.2 | -0.2 | -0.1 |
Foreign currency exposure in the balance sheet | 2.6 | 6.6 | 4.3 | 2.5 | 7.8 | 3.0 |
Sensitivity analysis, effect on net result for the period
The strengthening or weakening of the Euro against the US dollar, the Swedish krona or the Australian dollar would, given that all other factors remain unchanged, impact the Group's net result for the period as follows. The impact portrays the Group's transaction risk.
2025 | 2024 | |||||
USD | SEK | AUD | USD | SEK | AUD | |
Strengthening of the Euro by 10 percent | ||||||
Effect on net result for the period, EUR million | 0.1 | -1.3 | -0.5 | 0.4 | -1.2 | -0.5 |
Translation risk
The Marimekko Group incurs translation risk when the financial statements of foreign subsidiaries are translated into euro amounts in the consolidated financial statements. For foreign-curren-cy-denominated net investments, the effects of changes in foreign exchange rates appear as translation differences in the Group\u2019s equity. Marimekko has so far not hedged against translation risk for equity, as the subsidiary sales and net investments are small from the Group\u2019s perspecti-ve.
Interest rate risk
The Group\u2019s interest rate risk primarily results from changes in interest rates on cash and cash equivalents and on current and noncurrent interest-bearing liabilities due to changes in market rates. Changes in the interest rates of these assets and liabilities have an impact on the Group\u2019s profit. The average interest rate of interest-bearing liabilities without lease liabitilies was 0% (0%) since the Group had no other interest bearing liabilities at balance sheet date. The change in the interest rate does not have a significant effect on the financial year's result.
(EUR million) | 2025 | 2024 |
Cash and cash equivalents | 36.6 | 40.4 |
Credit facilities drawn down | - | - |
21. CAPITAL MANAGEMENT
The purpose of capital management is to maintain a capital structure that optimally supports the Group\u2019s strategic objectives. Efficient capital management measures ensure normal operating conditions for the business and increase the shareholder value in the long term. The principal factors affecting the capital structure are profitability, dividend distribution and investments. The capital managed equals the shareholders\u2019 equity shown on the consolidated balance sheet. No external capital requirements are applied to the Group.
The Group continuously monitors its capital structure. The Group\u2019s strategic objective is to keep the ratio of net debt to EBITDA at or below 2 (one of the company\u2019s long-term financial goals). At the end of 2025, the ratio of net debt to EBITDA was -0.17 (-0.24), i.e. well below the long-term goal level.
Net debt / EBITDA
(EUR million) | 2025 | 2024 |
Interest-bearing liabilities | ||
Non-current lease liabilities | 21.5 | 22.3 |
Current lease liabilities | 8.2 | 8.3 |
Total | 29.7 | 30.6 |
Cash and cash equivalents | 36.6 | 40.4 |
Net debt | -6.9 | -9.7 |
EBITDA | 41.9 | 40.7 |
Net debt / EBITDA | -0.17 | -0.24 |
Change in net debt
(EUR million) | Loans from financial institutions | Lease liabilities | Cash and cash equivalents | Total |
Book value, 1 Jan. 2025 | 0.0 | -30.6 | 40.4 | 9.7 |
Changes in net debt, cash | ||||
Loan repayments | - | |||
Payments of lease liabilities | 8.7 | 8.7 | ||
Change in cash and cash equivalents | -3.4 | -3.4 | ||
Cash flows, total | 0.0 | 8.7 | -3.4 | 5.3 |
Changes in net debt, non-cash: | ||||
Changes in lease liabilities including effects of exchange rate fluctuations | -7.7 | -7.7 | ||
Effects of exchange rate fluctuations | 0.0 | -0.3 | -0.3 | |
Non-cash movements, total | 0.0 | -7.7 | -0.3 | -8.1 |
Book value, 31 Dec. 2025 | 0.0 | -29.7 | 36.6 | 6.9 |
(EUR million) | Loans from financial institutions | Lease liabilities | Cash and cash equivalents | Total |
Book value, 1 Jan. 2024 | -0.6 | -32.3 | 37.0 | 4.1 |
Changes in net debt, cash | ||||
Loan repayments | 0.6 | 0.6 | ||
Payments of lease liabilities | 8.0 | 8.0 | ||
Change in cash and cash equivalents | 3.2 | 3.2 | ||
Cash flows, total | 0.6 | 8.0 | 3.2 | 11.8 |
Changes in net debt, non-cash: | ||||
Changes in lease liabilities including effects of exchange rate fluctuations | -6.3 | -6.3 | ||
Effects of exchange rate fluctuations | 0.0 | 0.2 | 0.2 | |
Non-cash movements, total | 0.0 | -6.3 | 0.2 | -6.2 |
Book value, 31 Dec. 2024 | 0.0 | -30.6 | 40.4 | 9.7 |
Liquidity risk
The Group continuously seeks to assess and monitor the amount of funding required for business operations to ensure that sufficient liquid funds are available for daily business and repayment of maturing debts. The assessment is based on monthly cash flow and liquidity forecasts. The Group aims to maintain a high liquidity level at all times in order to eliminate liquidity risk. In order to minimize liquidity risk, the Group's near-term and next few years' financing needs can be covered by liquid funds as well as committed long-term or short-term credit facilities or credit facilities valid until further notice. At the end of the financial year, the Group credit facilities and revolving credit facilities totaled EUR 22.4 million (32.6). The amount of credit facilities drawn down at the end of the year was EUR 0.0 million (0.0). Revolving facilities remained unused during 2025.
Maturity analysis for the Group\u2019s financial liabilities; the figures are not discounted, and they include both interest payments and capital repayments:
31 Dec. 2025
(EUR million) | Less than 1 year | 1\u20132 years | 3\u20135 years | Over 5 years |
Lease liabilities | 9.0 | 11.1 | 5.9 | 5.9 |
Trade and other payables | 26.4 | - | - | - |
Total | 35.4 | 11.1 | 5.9 | 5.9 |
31 Dec. 2024
(EUR million) | Less than 1 year | 1\u20132 years | 3\u20135 years | Over 5 years |
Lease liabilities | 9.3 | 12.8 | 6.9 | 4.1 |
Trade and other payables | 24.2 | - | - | - |
Total | 33.4 | 12.8 | 6.9 | 4.1 |
Credit risk
The trade receivables generated in the Group\u2019s wholesale operations are associated with a credit risk, which is reduced by the Group\u2019s broad and geographically diverse clientele. Marimekko continuously monitors the credit limits, credit history and financial situation of its customers. The Group has a centralized process in place for this purpose. Responsibility for the credit monitoring process lies with the Group\u2019s CFO. The credit risk related to the wholesale business is also reduced by means of credit insurance, advance payments, bank guarantees and letters of credit.
Retail customers pay for their purchases using cash or the most common debit/credit cards.
Note 12.2 (Trade and other receivables) to the consolidated financial statements includes an analysis of trade receivables by age.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f0__s7__6__111": { "value": "Foreign currency risk
The Group\u2019s currency risk consists of sales and purchases made in foreign currency as well as balance sheet items and foreign-currency-denominated net investments in units abroad.
Transaction risk
The Group's transaction risk derives from currency flows connected with wholesale and retail sales as well as purchases and operating expenses of the Group's business units, and from loans and receivables denominated in foreign currency. The Group\u2019s principal sales currency is the Euro. The other significant sales and invoicing currencies are the US dollar, Swedish krona, Danish krone, Norwegian krone, Australian dollar and Canadian dollar. The principal currencies used for purchases are the Euro and, to a lesser extent, the US dollar. In 2025, foreign-curren-cy-denominated sales accounted for approximately 22 percent (22) of the Group's total sales and foreign-currency-denominated purchases made up about 17 percent (19) of the Group's purchases.
Marimekko protects itself against the transaction risk of sales by taking account of the estimated exchange rate changes at the time of sale when carrying out wholesale and retail pricing of products. Foreign subsidiaries are financed primarily in local currency, so they do not incur significant transaction risk.
The Group's transaction exposure
Foreign-currency-denominated assets and liabilities (cash and cash equivalents, trade recei-vables and trade payables) converted to euro amounts using the exchange rates quoted on the closing date
2025 | 2024 | |||||
(EUR million) | USD | SEK | AUD | USD | SEK | AUD |
Current assets | 3.4 | 6.6 | 4.4 | 2.7 | 8.0 | 3.1 |
Current liabilities | -0.7 | 0.0 | -0.1 | -0.2 | -0.2 | -0.1 |
Foreign currency exposure in the balance sheet | 2.6 | 6.6 | 4.3 | 2.5 | 7.8 | 3.0 |
Sensitivity analysis, effect on net result for the period
The strengthening or weakening of the Euro against the US dollar, the Swedish krona or the Australian dollar would, given that all other factors remain unchanged, impact the Group's net result for the period as follows. The impact portrays the Group's transaction risk.
2025 | 2024 | |||||
USD | SEK | AUD | USD | SEK | AUD | |
Strengthening of the Euro by 10 percent | ||||||
Effect on net result for the period, EUR million | 0.1 | -1.3 | -0.5 | 0.4 | -1.2 | -0.5 |
Translation risk
The Marimekko Group incurs translation risk when the financial statements of foreign subsidiaries are translated into euro amounts in the consolidated financial statements. For foreign-curren-cy-denominated net investments, the effects of changes in foreign exchange rates appear as translation differences in the Group\u2019s equity. Marimekko has so far not hedged against translation risk for equity, as the subsidiary sales and net investments are small from the Group\u2019s perspecti-ve.
Interest rate risk
The Group\u2019s interest rate risk primarily results from changes in interest rates on cash and cash equivalents and on current and noncurrent interest-bearing liabilities due to changes in market rates. Changes in the interest rates of these assets and liabilities have an impact on the Group\u2019s profit. The average interest rate of interest-bearing liabilities without lease liabitilies was 0% (0%) since the Group had no other interest bearing liabilities at balance sheet date. The change in the interest rate does not have a significant effect on the financial year's result.
(EUR million) | 2025 | 2024 |
Cash and cash equivalents | 36.6 | 40.4 |
Credit facilities drawn down | - | - |
Sensitivity analysis, effect on net result for the period
The strengthening or weakening of the Euro against the US dollar, the Swedish krona or the Australian dollar would, given that all other factors remain unchanged, impact the Group's net result for the period as follows. The impact portrays the Group's transaction risk.
2025 | 2024 | |||||
USD | SEK | AUD | USD | SEK | AUD | |
Strengthening of the Euro by 10 percent | ||||||
Effect on net result for the period, EUR million | 0.1 | -1.3 | -0.5 | 0.4 | -1.2 | -0.5 |
21. CAPITAL MANAGEMENT
The purpose of capital management is to maintain a capital structure that optimally supports the Group\u2019s strategic objectives. Efficient capital management measures ensure normal operating conditions for the business and increase the shareholder value in the long term. The principal factors affecting the capital structure are profitability, dividend distribution and investments. The capital managed equals the shareholders\u2019 equity shown on the consolidated balance sheet. No external capital requirements are applied to the Group.
The Group continuously monitors its capital structure. The Group\u2019s strategic objective is to keep the ratio of net debt to EBITDA at or below 2 (one of the company\u2019s long-term financial goals). At the end of 2025, the ratio of net debt to EBITDA was -0.17 (-0.24), i.e. well below the long-term goal level.
Net debt / EBITDA
(EUR million) | 2025 | 2024 |
Interest-bearing liabilities | ||
Non-current lease liabilities | 21.5 | 22.3 |
Current lease liabilities | 8.2 | 8.3 |
Total | 29.7 | 30.6 |
Cash and cash equivalents | 36.6 | 40.4 |
Net debt | -6.9 | -9.7 |
EBITDA | 41.9 | 40.7 |
Net debt / EBITDA | -0.17 | -0.24 |
Change in net debt
(EUR million) | Loans from financial institutions | Lease liabilities | Cash and cash equivalents | Total |
Book value, 1 Jan. 2025 | 0.0 | -30.6 | 40.4 | 9.7 |
Changes in net debt, cash | ||||
Loan repayments | - | |||
Payments of lease liabilities | 8.7 | 8.7 | ||
Change in cash and cash equivalents | -3.4 | -3.4 | ||
Cash flows, total | 0.0 | 8.7 | -3.4 | 5.3 |
Changes in net debt, non-cash: | ||||
Changes in lease liabilities including effects of exchange rate fluctuations | -7.7 | -7.7 | ||
Effects of exchange rate fluctuations | 0.0 | -0.3 | -0.3 | |
Non-cash movements, total | 0.0 | -7.7 | -0.3 | -8.1 |
Book value, 31 Dec. 2025 | 0.0 | -29.7 | 36.6 | 6.9 |
(EUR million) | Loans from financial institutions | Lease liabilities | Cash and cash equivalents | Total |
Book value, 1 Jan. 2024 | -0.6 | -32.3 | 37.0 | 4.1 |
Changes in net debt, cash | ||||
Loan repayments | 0.6 | 0.6 | ||
Payments of lease liabilities | 8.0 | 8.0 | ||
Change in cash and cash equivalents | 3.2 | 3.2 | ||
Cash flows, total | 0.6 | 8.0 | 3.2 | 11.8 |
Changes in net debt, non-cash: | ||||
Changes in lease liabilities including effects of exchange rate fluctuations | -6.3 | -6.3 | ||
Effects of exchange rate fluctuations | 0.0 | 0.2 | 0.2 | |
Non-cash movements, total | 0.0 | -6.3 | 0.2 | -6.2 |
Book value, 31 Dec. 2024 | 0.0 | -30.6 | 40.4 | 9.7 |
22. EVENTS AFTER THE CLOSING DATE
New share-based long-term incentive plan for the management
After the end of the financial year, the Board of Directors of Marimekko decided to continue the share-based long-term incentives for the company\u2019s management. The Performance Share Plan 2026\u20132030 consists of four performance periods, covering the financial years 2026\u20132027, 2026\u20132028, 2027\u20132029 and 2028\u20132030 respectively. The Board of Directors will resolve annually on the commencement and details of a performance period.
The performance criteria of the performance periods 2026\u20132027 and 2026\u20132028 are tied to the absolute total shareholder return and comparable operating profit margin. The target group at the beginning of the performance periods 2026\u20132027 and 2026\u20132028 consists of the Management Group of Marimekko, in total 11 people, including the President and CEO. The new plan is presented in more detail in the stock exchange release on 12 February 2026.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:74370053IOY42B9YJ350", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }