Fiskars Oyj Abp — Earnings Release 2026

Apr 23, 2026

Fiskars Corporation Interim Report for January-March 2026 - A solid start to the year with increased comparable net sales and free cash flow, comparable EBIT EUR 25 million

Fiskars Corporation Interim Report for January-March 2026 - A solid start to the year with increased comparable net sales and free cash flow, comparable EBIT EUR 25 million

Fiskars Corporation
Interim report
April 23, 2026 at 8:30 a.m. (EEST)

Fiskars Corporation Interim Report for January-March 2026 - A solid start to the
year with increased comparable net sales and free cash flow, comparable EBIT EUR
25 million

This release is a summary of Fiskars Corporation's Interim Report for January
-March 2026 published today. The complete Interim Report with tables is attached
to this release as a pdf-file. It is also available
at https://fiskarsgroup.com/investors/reports-and-presentations/annual-and
-interim-reports/ and on the company website at www.fiskarsgroup.com. Investors
should not rely on summaries of financial reports only, but should review the
complete reports with tables.

January-March 2026 in brief:

· Comparable net sales[1] increased by 2.3% to EUR 282.9 million (Q1 2025:
276.6). Reported net sales decreased by 3.1%.
· Comparable EBIT[2 ]decreased to EUR 25.0 million (26.8), or 8.8% (9.2%) of
net sales.
· EBIT increased to EUR 19.6 million (-4.6).
· Cash flow from operating activities before financial items and taxes
increased to EUR 7.5 million (-2.1).
· Free cash flow increased to EUR 0.9 million (-17.4).
· Comparable earnings per share were EUR 0.16 (0.15). Earnings per share were
EUR 0.11 (-0.16).

1) Comparable net sales exclude the impact of exchange rates, acquisitions and
divestments.
2) 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.

Guidance for 2026 (unchanged)

Fiskars Corporation expects comparable EBIT to improve from the 2025 level
(2025: EUR 76.4 million).

Assumptions behind the guidance

Uncertainties in the global economy and geopolitical environment are expected to
continue and affect demand for Fiskars Group's products in 2026. Visibility in
the market is limited.

Business Area Fiskars is expected to deliver a steady performance, following the
typical first-half focused seasonality of its business. The improvement in the
Group's comparable EBIT is expected to be primarily driven by Business Area
Vita, even as its continued actions to reduce elevated inventories will carry
some negative impact. Fiskars Group has announced planned changes, which are
expected to improve Vita's financial performance and result in savings that
support the Group's comparable EBIT improvement from the second half of 2026
onwards.

President and CEO, Fiskars Group, Jyri Luomakoski:

“We had a solid start to the year, with our comparable net sales increasing by
2.3%, despite continued uncertainties in the operating environment. Our
comparable EBIT was below last year at  EUR 25 million, impacted by a negative
translation effect of more than EUR 2 million due to the weakened U.S. dollar.
In line with the seasonal patterns of our business, Business Area Fiskars
brought in the Group's comparable EBIT for the quarter. At the same time, it was
encouraging to see Business Area Vita's sales increasing for the third
consecutive quarter.

Our free cash flow increased to EUR 0.9 million, improving clearly from both the
comparison period and historical seasonal pattern of negative first-quarter free
cash flow.

Taking a closer look at the Business Areas, Business Area Vita's comparable net
sales grew by 5.0%. The growth was driven by multiple key markets and the
continued strong performance of Georg Jensen and Royal Copenhagen with the new
Iris collection from Royal Copenhagen being particularly well received.
Rörstrand also had a good start to the year supported by its 300th anniversary
and new launches. Vita's comparable EBIT decreased to EUR -0.7 million, impacted
by the continued scale-down of manufacturing as the Business Area worked to
reduce excess inventories. While the team has made progress in inventories year
-on-year, there is still work ahead.

In February, we announced that Vita was planning changes to drive a turnaround
in its financial performance and lay foundations for profitable growth. The
planned changes include simplifying the organizational structure, as well as
right-sizing capacity and streamlining operations at certain manufacturing
sites. These changes are progressing according to the announced plans and are
expected to result in total annual cost savings of approximately EUR 28 million,
of which close to a third is expected to realize in 2026 during the second half
of the year.

Business Area Fiskars' first-quarter comparable net sales were stable, as
Fiskars brand's growth in the U.S. was offset by a more mixed picture in other
markets. The Fiskars brand grew in the U.S. for the third consecutive quarter,
supported by distribution gains, including both retail locations and product
listings. The Business Area's comparable EBIT was relatively stable at EUR 30.9
million, and its comparable EBIT margin improved to 20.1%, demonstrating the
team's strong execution at the start of the important gardening season. During
the quarter, the new Power Tools category entered stores, starting with broad
distribution in Europe, and followed by the North American launch later.
Additionally, the new Pet Care range continued to expand its retail presence.

Our Business Areas are now fully operationally accountable separate legal
subgroups under the parent company Fiskars Corporation. I would like to express
my appreciation to our teams who concluded the separation into individual legal
entities efficiently on schedule and as planned. Operating independently, the
Business Areas benefit from improved flexibility and speed of execution,
enabling the acceleration of their distinct growth opportunities. It also allows
increasing transparency and measurability at the Business Area level. We will
present our strategic priorities and new financial targets in connection with
our Capital Markets Day on May 12, 2026.

The first quarter marked a step-up in our climate ambitions, as our new science
-based emissions reduction targets were approved by the Science Based Targets
initiative (SBTi). As we had made strong progress towards our 2030 targets, we
raised the bar for emissions reductions in both our own operations and across
the value chain. In addition, our commitment to reach net-zero by 2049 was
officially validated by the SBTi, underscoring our long-term ambition.

With one quarter now behind us, we reiterate our guidance and expect comparable
EBIT to improve from the 2025 level. The uncertainties in the global economy and
geopolitical environment have not eased - quite the contrary - limiting
visibility in the market. At the same time, our measures to strengthen our
profitability, especially in Business Area Vita, are advancing as planned. With
current visibility, we are confident that we can improve our performance this
year.”

Group key figures

[][][][]
EUR million (unless otherwise Q1 2026 Q1 2025 Change 2025
noted)
Net sales 282.9 291.9 -3.1% 1,140.2
Comparable net sales[1)] 282.9 276.6 2.3% 1,124.3
EBIT 19.6 -4.6 38.1
Items affecting comparability in 5.4 31.4 -82.6% 38.4
EBIT[2)]
Comparable EBIT[3)] 25.0 26.8 -6.6% 76.4
Comparable EBIT margin 8.8% 9.2% 6.7%
EBITDA 39.6 14.3 122.2
Comparable EBITDA[4)] 44.0 45.7 -3.6% 155.3
Profit before taxes 11.1 -16.1 12.5
Profit for the period 8.6 -13.1 9.6
Earnings per share, EUR 0.11 -0.16 0.12
Comparable earnings per share, EUR 0.16 0.15 5.5% 0.48
Cash earnings per share (CEPS), 0.03 -0.12 1.25
EUR
Equity per share, EUR 8.11 8.73 -7.1% 8.81
Cash flow from operating 7.5 -2.1 128.2
activities before financial items
and taxes
Free cash flow 0.9 -17.4 76.3
Free cash flow/comparable net 232.9% 105.4% 197.3%
profit (LTM), %
Net debt 545.8 563.4 -3.1% 513.4
Net debt/comparable EBITDA (LTM), 3.55 2.90 22.4% 3.31
ratio
Equity ratio, % 40 % 42 % 44 %
Net gearing, % 83 % 79 % 72 %
Capital expenditure 5.2 8.7 -40.3% 43.5
Personnel (FTE), average 5,998 6,195 -3.2% 6,145

1) Comparable net sales exclude the impact of exchange rates, acquisitions and
divestments.
2) In Q1 2026, items affecting comparability were mainly related to BA Vita's
turnaround actions.
3) EBIT excluding items affecting comparability. Comparable EBIT is not adjusted
to exclude the EBIT contribution of acquisitions/divestments/disposals.
4) EBITDA excluding items affecting comparability. Comparable EBITDA is not
adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals.

In addition to the financial performance indicators defined by the IFRS, Fiskars
Group publishes certain Alternative Performance Measures to better reflect the
operational business performance and to facilitate comparisons between financial
periods. Their calculation can be found on Fiskars Group's website in the
Investors section (Investors-> Financials-> Calculation of financial
indicators).

FISKARS CORPORATION

Jyri Luomakoski
President and CEO

Webcast

A results webcast will be held on April 23, 2026 at 11.00 a.m. (EEST). It will
be held in English and can be followed at https://fiskars.events.inderes.com/q1
-2026.

Management presentation is followed by a Q&A session. Questions can be placed
through the webcast chat function or by phone. To ask questions by phone, the
participant is required to register at https://events.inderes.com/fiskars/q1
-2026/dial-in. After the registration you will receive the phone number and
conference ID to access the conference. If you wish to ask a question, please
press *5 on your telephone keypad to enter the queue.

Presentation materials will be available at www.fiskarsgroup.com.

An on-demand version of the webcast will be available on the Group's website.
Personal details gathered during the event will not be used for any other
purpose.

Further information:

Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192

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 2025, Fiskars Group's global net sales were EUR 1.1
billion, and we had approximately 6,600 employees. We have two Business Areas
(BA), Vita and Fiskars.

BA Vita offers products in the high-end homeware segment as well as fine branded
jewelry. Its desirable brands include Georg Jensen, Royal Copenhagen, Wedgwood,
Moomin Arabia, Iittala and Waterford. In 2025, BA Vita's reported net sales were
EUR 613 million, and it had approximately 5,000 employees.

BA Fiskars offers functional innovations in the gardening and outdoor
categories, in addition to the scissors and creating, as well as cooking
categories. The brands include Fiskars and Gerber. In 2025, BA Fiskars' net
sales were EUR 522 million, and it had approximately 1,300 employees.

Read more: fiskarsgroup.com

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