Fiskars’ Other segment contains the Group’s investment portfolio, the real estate unit, corporate headquarters and shared services.
Following the divestment of the majority of the Group’s holding in Wärtsilä in 2014, the remaining Wärtsilä shares, along with the rest of the Group’s active investment portfolio are treated as financial assets at fair value through profit or loss in the Other segment. This increases the volatility of Fiskars’ financial items in the profit and loss statement and thus the volatility of Fiskars’ net results.
Real Estate & Fiskars Village
The real estate business unit is in charge of managing and developing property in Finland that is used by the Group for manufacturing or commercial purposes, along with the Group’s other real estate assets, including the sustainably managed forests owned by the Group. The real estate business unit’s income consists mainly of timber sales and rental income.
Developing our assets
Real Estate is responsible for managing properties in Fiskars Village and other locations, including the Group's production sites in Finland. The unit also develops Fiskars' 15,000 hectares of land and 3,700 hectares of water, the majority of which are located in and around Fiskars Village and on the Hankoniemi peninsula in southern Finland. The strategy of the Fiskars Real Estate is based on the principles of sustainable development, in line with Fiskars’ long history.
Long-term approach to forestry
Fiskars' forests include both productive stands of timber and various protected habitats. Changes in the fair value of the company's standing timber are based on a three-year rolling average of timber prices, and are presented as a separate entry in the income statement under operating profit.
Forest management practices are based on a long-term, sustainable approach.
Fiskars Village as a place to live
Real Estate is also actively involved in the development of the Raseborg area. The new plan of land use of Raseborg has 140 new lots on Fiskars area, suitable for houses and buildings for small scale industries and more.
The new housing opportunities aim to contribute to the rich diversity of Fiskars Village. Fiskars has developed to be a meeting point for artists, designers and entrepreneurs in the creative field. The unique atmosphere and community that Fiskars has, serves that purpose well.
Fiskars has a number of parcels of land for sale in both Fiskars area, Billnäs and Brunkom. There are also a number of business locations for rent in Fiskars Village.
Fiskars Village as a tourist destination
Fiskars Village, the company's birthplace, is easily the most well-known part of the Real Estate portfolio - and has become an internationally renowned center of Finnish design and art, attracting close to 200,000 visitors a year. Its history goes back to 1649 and today it offers visitors things to see and do all year round. Events and service of Fiskars Village have their focus mainly on the four themes of Fiskars Village; Design handicraft and art, Local food and drinks, performing arts and Outdoor and nature. High-class conference and restaurants services make Fiskars Village the perfect event venue.
Fiskars Corporation / Fiskars Real Estate
Fiskarsintie 336, FI-10470 Fiskars, Finland