Fiskars Oyj Abp — Earnings Release 2025

Jun 12, 2025

Inside information, profit warning: Fiskars Corporation lowers its guidance for 2025

Inside information, profit warning: Fiskars Corporation lowers its guidance for 2025

Fiskars Corporation
Inside information
June 12, 2025 at 7:10 p.m. EEST

Inside information, profit warning: Fiskars Corporation lowers its guidance for
2025

Fiskars Corporation lowers its guidance for 2025 as a result of a rapid decline
in demand in the United States in the second quarter of 2025. The company now
expects comparable EBIT* in 2025 to be in the range of EUR 90-110 million.
Previously the company expected comparable EBIT to improve from the 2024 level
(2024: EUR 111.4 million).

Rationale for updating the guidance

The indirect impacts from U.S. import tariffs on retailer demand and their
inventory control have affected sales in the country more rapidly and negatively
than previously anticipated. The U.S. represents approximately 30% of Fiskars
Group's net sales and approximately 50% of Business Area Fiskars' net sales, the
majority of which is based on sourcing from Asia. Although most pronounced in
the U.S. and with Business Area Fiskars, the indirect impacts have begun to
materialize in Europe and with Business Area Vita as well.

As previously communicated, the Group expects that its actions can over time
largely mitigate adverse direct impacts of tariffs related to increasing
sourcing and logistics costs. However, the benefits of these mitigation efforts
are expected to materialize with a delay as Fiskars Group has prioritized
maintaining its market share and securing cash flow.

Visibility in the market remains exceptionally limited, and the situation is
continuously evolving. Fiskars Group continues to take proactive measures to
mitigate cost pressures and preserve long-term margin resilience, including
ongoing productivity initiatives and pricing adjustments, which typically have a
contractual lead time. Once the tariff environment stabilizes, Fiskars Group
continues measures to rebase some of its sourcing to optimize its supply chain
in the long term.

New guidance for 2025:

Fiskars Corporation expects comparable EBIT to be in the range of EUR 90-110
million (2024: EUR 111.4 million).

Previous guidance for 2025:

Fiskars Corporation expects comparable EBIT to improve from the 2024 level
(2024: EUR 111.4 million).

* EBIT excluding items affecting comparability. Items affecting comparability in
EBIT include items such as restructuring costs, impairment or provisions charges
and releases, acquisition-related costs, and gains and losses from the sale of
businesses. Comparable EBIT is not adjusted to exclude the EBIT contribution of
acquisitions/divestments/disposals.

FISKARS CORPORATION
Jyri Luomakoski
Interim President & CEO

Further information:
Jussi Siitonen, CFO, tel. +358 204 3910
Noora Huttula, Investor Relations Manager, tel. +358 40 528 0806

Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven
brands for indoor and outdoor living. Since 1649, we have designed products of
timeless, purposeful, and functional beauty, while driving innovation and
sustainable growth. In 2024, Fiskars Group's global net sales were EUR 1.2
billion and we had close to 7,000 employees. We have two Business Areas (BA),
Vita and Fiskars.

BA Vita offers premium and luxury products for the tableware, drinkware, jewelry
and interior categories. Its well-known brands include Georg Jensen, Royal
Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2024, BA Vita's
reported net sales were EUR 605 million. Already 50% of BA Vita's net sales
comes from direct-to-consumer sales, comprising approximately 500 stores and
approximately 60 e-commerce sites.

BA Fiskars consists of the gardening and outdoor categories, in addition to the
scissors and creating, as well as cooking categories. The brands include Fiskars
and Gerber. In 2024, BA Fiskars' net sales were EUR 547 million.

Read more: fiskarsgroup.com