Covid-19-pandemian vaikutus

Fiskars Group on saanut useita kyselyjä koronavirusepidemian (COVID-19) vaikutuksesta yhtiön toimintaan. Alla tilanteen yhteenveto, joka julkaistiin Q1-presentaation yhteydessä (englanniksi):

Impact so far:

• Consumer confidence and demand decreased in all markets
• Performance of BA Vita has been most impacted
  • Over half of our own stores are located in APAC, challenges in Asia began in January
  • Store closures in Europe and Americas as well
  • Main markets for Terra and Crea are in Europe and Americas, where the pandemic started to impact in March
• DIY stores, which is the most important channel for BA Terra, has been kept open in most markets

Actions taken

• Temporary layoffs or similar measures implemented throughout the group
• Temporary store closures
• Some factories have been temporarily closed
• Other actions
• The business situation will be continuously monitored, and further actions taken as needed

Key risks going forward

• Visibility is low due to, amongst others, the possibility of new waves in the pandemic and related implications, changes in consumer behavior and the development in different distribution channels
• Development of consumer demand an important factor
• Possible new restrictions in movement and store closures
  • In particular, the development of the pandemic and its consequences to the U.S. market is considered material, as it is the single largest market for Fiskars Group.
• Possible supply chain risks

Balance sheet and liquidity

• Healthy balance sheet (end of Q1)
  • Net gearing: 44%, equity ratio: 51%
  • Interest-bearing net debt: EUR 331.3 million
• Cash at end of Q1 EUR 109.3 million (Q1 2019: 11.0)
• Liquidity position improved during Q1 by raising new loans
  • EUR 122 million of the company’s EUR 400 million commercial paper program in use
  • EUR 300 million of unused long-term committed credit facilities with Nordic banks