Tiimari Oyj Abp - Company Announcement

TIIMARI PLC: TIIMARI HAS SOLD THE GALLERIX BUSINESS TO THE OPERATIVE MANAGEMENT

TIIMARI PLC
Stock Exchange Release 27 January 2012 at 13.50

During 2011 and in the beginning of 2012 Tiimari has investigated the option to
sell the Gallerix business in Sweden. In an arrangement, which came into force
today on January 27, 2012, Gallerix International AB and its owned subsidiaries
Gallerix Sweden AB and Gallerix Skärholmen AB have been sold to the operative
management as well as the intercompany receivables and liabilities between
Tiimari and the sold Gallerix companies have been paid. 

As a result of the arrangement a non-recurring expense of EUR 4.5 million is
recorded in Tiimari Group's result for 2011. The arrangement's net cash flow
effect to the Tiimari Group is about EUR 1.6 million, which is planned to be
used for repayment of interest-bearing liabilities and for development of
Tiimari business. As a result of the arrangement the net working capital will
be reduced by about EUR 1 million and assets and liabilities about EUR 10
million. 

Due to the share transaction the Gallerix segment will be reported as
discontinued operations in the financial statements 2011. 

The arrangement is expected to improve Tiimari Group's opportunities and
resources to focus on the development of the Tiimari business in Finland and
Baltic countries. The arrangement is not otherwise expected to have any
significant impact on Tiimari Group's operative business or personnel. 

Gallerix segment's sales in year 2011 were EUR 17.4 million (preliminary). On
September 30, 2011 the Gallerix chain consisted a total of 83 retail shops in
Sweden and Gallerix Sweden AB's average number of employees was 80 (January, 1
- September, 30, 2011). 

The following table shows Tiimari Group's segment information to illustrate the
financial effects of the arrangement. The information is based on the company's
unaudited Interim Report for the reporting period of January, 1 - September,
30, 2011. 



SEGMENT INFORMATION                          
NET SALES                                    
EUR 1 000               2011    2010     2010
                         1-9     1-9     1-12
Tiimari               34 142  36 840   61 924
Gallerix              10 738   9 066   13 914
Other operations           0     356      376
Eliminations             -54    -396     -416
Group                 44 825  45 866   75 797
EBITDA                                       
EUR 1 000               2011    2010     2010
                         1-9     1-9     1-12
Tiimari              -10 476  -5 580   -1 330
Gallerix                -677    -293      135
Other operations        -737  -1 076   -1 376
Group                -11 891  -6 949   -2 571
OPERATING PROFIT                             
EUR 1 000               2011    2010     2010
                         1-9     1-9     1-12
Tiimari              -11 556  -7 240  -10 435
Gallerix              -1 246    -962     -724
Other operations        -789  -1 150   -1 455
Group                -13 592  -9 352  -12 613
DEPRECIATION AND GOODWILL IMPAIRMENT         
EUR 1 000               2011    2010     2010
                         1-9     1-9     1-12
Tiimari                1 080   1 660    9 105
Gallerix                 569     669      859
Other operations          52      74       79
Group                  1 701   2 403   10 042
CAPITAL EXPENDITURE                          
EUR 1 000               2011    2010     2010
                         1-9     1-9     1-12
Tiimari                  104     475      622
Gallerix                 138      32       33
Other operations           0      10       10
Group                    242     517      665



Board of Directors
Tiimari Plc

Further information:

CEO, Niila Rajala, +358 (0)3 812911, niila.rajala@tiimari.fi

CFO, Jarmo Kanervo, +358 (0)3 812911, jarmo.kanervo@tiimari.fi

Distribution:

NASDAQ OMX Helsinki
important news media
www.tiimari.com

Tiimari Plc is a listed company. The Group consists of two retail store
concepts: Tiimari and Gallerix. The concepts operate around 300 shops in five
countries around the Baltic Sea region. Both concepts are forerunners in their
respective fields.