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Press releases

Press and stock exchange releases from Fiskars Corporation, dating from 1997 have been gathered onto this page. Additional financial data related to interim reports and the annual reports stock exchange releases can be retrieved from 2000 onwards.

 

Fiskars Corporation     Stock Exchange Release August 6, 2008 at 8.30 am.

FISKARS CORPORATION INTERIM REPORT JANUARY-JUNE 2008
(Unaudited)

FISKARS JANUARY-JUNE NET SALES AND CASH FLOW INCREASED, OPERATING PROFIT
DECREASED

Q2 highligts:
- Net sales increased to EUR 187.3 million (161.6)
- Operating profit (EBIT) increased to EUR 35.0 million (31.3)
- EBIT excluding Wärtsilä and the change in the fair value of standing
  timber was EUR 16.7 million (18.8)
- Net cash from operating activities in Q2 was EUR 86.1 million
  (22.5), dividend from Wärtsilä of EUR 67.2 million was received during
  Q2
- Financial position continues to be strong
- Full year EBIT excluding Wärtsilä and the change in the fair value of
  standing timber is expected to be below 2007 level


FISKARS CORPORATION IN BRIEF


EUR, million                Q2/2008  Q2/2007 1-6/2008 1-6/2007     2007
Net sales                     187.3    161.6    362.0    311.5    647.0
Income from associate          16.2      8.6     29.8     15.5     43.3
Operating profit (EBIT)        35.0     31.3     48.7     51.1    109.5
Profit before taxes            30.5     28.9     38.9     47.0    122.5
Profit for the period          26.6     25.3     36.1     40.0    110.4
Earnings/share, EUR            0.34     0.33     0.47     0.52     1.42
Net cash from operating        86.1     22.5     52.2     30.3     82.0
activities



FISKARS CORPORATION


Q2/2008
The Corporation's net sales increased by 16% to EUR 187 million (162)
during the second quarter. Net sales of Iittala in Q2/2007 were some EUR
42 million. (Iittala is consolidated as of September 1, 2007). At
comparable currency rates the pro forma sales decreased by EUR 6 million
(-3%). The effect of currency rates, in particular the weakening of the
US dollar against the euro, was EUR -11 million.

The Corporation's EBIT was EUR 35.0 million (31.3), EUR 3.7 million above
last year. The EBIT includes the Fiskars´ share of Wärtsilä's profit, EUR
16.2 million (8.6) and the change in the fair value of standing timber,
EUR 2.1 million (3.9). EBIT excluding Wärtsilä and the change in the fair
value of standing timber was EUR 16.7 million (18.8).

Research and Development costs were EUR 1.9 million (1.5) or 1.0% of net
sales.

Financial expenses were EUR 4.7 million (3.5). The increase was due
mainly to the acquisition of Iittala, which was financed by debt.
The result for the second quarter of 2008 was EUR 26.6 million (25.3) and
earnings per share EUR 0.34 (0.33).

JANUARY-JUNE 2008
The Corporation's net sales increased by 16% to EUR 362 million (312).
The net sales of Iittala and Leborgne were some EUR 88 million in
H1/2007. At comparable currency rates the pro forma sales, including
Iittala and Leborgne, decreased by EUR 18 million (-5%). The effect of
currency rates, in particular the weakening of the US dollar against the
euro, was EUR -20 million.

The Corporation's EBIT was EUR 48.7 million (51.1), EUR 2.4 million below
last year. Fiskars' share of Wärtsilä's profit was EUR 29.8 million
(15.5) and the change in the fair value of was EUR -2.8 million (+6.0).
EBIT excluding Wärtsilä and the change in the fair value of standing
timber was EUR 21.7 million (29.6).

Research and Development costs were EUR 3.9 million (3.0) or 1.1% of net
sales.

Net financial costs were EUR 9.8 million (4.1). The result for the period
was EUR 36.1 million (40.0) and earnings per share EUR 0.47 (0.52).

EMEA

Q2/2008
Net sales for the EMEA segment increased by EUR 39.2 million to EUR 117.4
million (78.2). The EBIT was EUR 10.6 million (9.3).

The second quarter continued the trend of the very slow start experienced
during the first quarter and the operating environment was even more
challenging. The overall weak economic climate deteriorated during the
second quarter; the weak consumer confidence together with difficult
economic conditions driven by soaring oil and food prices were evident.
The drop in the consumer spending made the trade adjust their buying
behavior accordingly.

The Garden business, being heavily weather dependant, also suffered from
continued poor weather conditions during the second quarter with the
spring being unusually cold and late in the main markets.

JANUARY-JUNE 2008
Net sales for the EMEA segment amounted to EUR 232.7 million (155.6), an
increase by EUR 77.1 million. The EBIT was EUR 13.9 million (20.3).


AMERICAS

Q2/2008
Net sales for the Americas segment were EUR 59.5 million (72.9); -18% or
USD 93.0 million (98.2), -5%. The EBIT decreased to EUR 6.7 million (9.2)
or USD 10.5 million (12.5).

Continued overall softening of the US economy, lower consumer confidence
and reduced discretionary spending impacted the business environment in
the US. The business also faces increasing raw material prices, rising
fuel and transportation costs as well as the depreciation of USD
especially against the Chinese RMB.

JANUARY-JUNE 2008
Net sales for the Americas segment were EUR 112.0 million (136.8); -18%
or USD 172.0 million (182.0), -6%. The EBIT was EUR 8.7 million (9.5),
remaining at previous year's level in local currency, USD 13.6 million
(13.4).


OTHER

INHA WORKS

Q2/2008
The Inha Works net sales were EUR 12.9 million (15.1), a decrease of some
14%. The EBIT was unsatisfactory at EUR 0.2 million (2.0).

The economic uncertainty, increasing fuel prices and the overall cost
level dramatically changed the boat market during the second quarter of
the year. In Finland the new boat registrations were down considerably
and also the other Scandinavian markets were softer than the previous
year. Despite the increased market share of Buster boats, the sales
dropped.  The development of net sales and operating profit (EBIT) was
also heavily affected by delays in delivery of the new boat models.

The hinge business has suffered from fierce competition from low cost
countries, and during the reporting period Fiskars decided to close the
business during 2008. The measures are expected to affect 60-80 workers
and administrative staff.

JANUARY-JUNE 2008
The Inha Works net sales were EUR 24.8 million (27.8), a decrease of some
11%. The EBIT was unsatisfactory at EUR 1.0 million (3.6).


REAL ESTATE GROUP

Q2/2008
Net sales for the Real Estate Group were EUR 1.3 million (1.5). The EBIT
was EUR 2.2 million (3.9). During the second quarter the value of
standing timber increased by EUR 2.1 (3.9).

JANUARY-JUNE 2008
Net sales for the Real Estate Group were EUR 2.9 million (2.7). The EBIT
was EUR -2.1 million (6.0). In addition to leasing real estate to
internal and external customers, the Real Estate Group manages the
Corporation's forests and other real estate. The market value of
biological assets decreased during the first half of the year by EUR -2.8
million (6.0).


ASSOCIATED COMPANY WÄRTSILÄ CORPORATION

Q2/2008
The associated company Wärtsilä continued to perform well during the
second quarter. Fiskars Corporation's share of Wärtsilä's results for the
second quarter increased to  EUR 16.2 million (8.6).

JANUARY-JUNE 2008
Fiskars Corporation's share of Wärtsilä's results was EUR 29.8 million
(15.5). Through a bonus share issue in March 2008, Fiskars' share of the
Wärtsilä equity increased by EUR 5.8 million, which is included in the
total amount of Income from associate.

The book value of Fiskars' investment in Wärtsilä was EUR 237.9 million
(278.3 at the beginning of the year). EUR 61.2 million of the book value
of the associate is goodwill (61.2 at the beginning of the year).

At the end of the review period, the Fiskars Corporation's ownership in
Wärtsilä was 17.1% of shares (16.5%) and 17.1% of votes (32.2%). The
Annual General Meeting of Wärtsilä decided on 19 March 2008 to combine
the two share series A and B. Though the holdings of Fiskars Corporation
in Wärtsilä decreased below 20 percent, Fiskars continues to be the
largest single shareholder with more than 17% of the votes. The Chairman
of the Board of Fiskars, Mr. Kaj-Gustaf Bergh, and the President and CEO
of Fiskars, Mr. Kari Kauniskangas, were elected to the Wärtsilä Board of
Directors. Fiskars has assessed that it has a significant influence on
Wärtsilä as defined in IAS 28 and accordingly continues to report
Wärtsilä as an associated company.

The market value of the Wärtsilä shares of Fiskars was EUR 673 million at
the end of the review period (share price EUR 39.95).


BALANCE SHEET AND FINANCING
The Corporation's net working capital was EUR 190 million (EUR 162
million at the end of 2007), EUR 7 million less than in March 2008. The
changes mainly refer to the seasonality of the business. Assets held for
sale, EUR 1.1 million, include vacant premises in the USA, which are
expected to be sold within the next 12 months.
Non-current assets totaled EUR 665 million (713). Of this, EUR 133
million was intangible assets, and EUR 99 million was goodwill. At the
end of June the remaining 2.3% of Iittala Group Oy Ab shares were
acquired for EUR 3.1 million.

Net interest-bearing debt amounted to EUR 342 million which was up EUR
23 million from year-end 2007 (319), but EUR 14 million less than in
March 2008.

The Corporation's financial position continues to be strong.
Shareholder's Equity totaled EUR 446 million (478) at the end of the
period. The Corporation's equity to assets ratio was 45% (46%) and net
gearing 77% (67%). The Corporation's liquidity position isgood. Cash and
deposits at the end of the period were EUR 13 million (35), in addition
to which the Corporation had EUR 425 million in unused long-term credit
facilities, mainly with major Nordic banks.

Cash flow from operations during the first half of the year was EUR +52
million (+30). Cash flow includes dividends paid by Wärtsilä, EUR 67.2
million (27.7). Capital expenditure during the first half year was EUR
15.4 million (22.1). Capital expenditure includes the EUR 3.1 million
paid for the minority shares in Iittala Group Oy Ab.

MANAGEMENT OF RISKS AND UNCERTAINTIES
The principal uncertainties that affect Fiskars' net sales and financial
performance in the short-term are related to:
- further material weakening of the general economic environment
- cost increases
- lower consumer spending levels especially affecting the homeware
  business area, which is heavily geared to the last quarter
- weaker sales to retailers who may reduce purchasing due to unstable
  economic environment, financial constraints, and existing high
  inventories at trade

The risks and the management thereof are described in more detail in
Fiskars' Annual Report 2007, on page 38.

PURCHASE AND SALE OF TREASURY SHARES
The Board of Directors had an authorization to acquire and convey the
treasury shares until the Annual General Meeting on 25 March 2008
provided that the amount of the acquired shares did not exceed ten
percent (10%) of the total share capital and votes in the company. The
Annual General Meeting on 25 March 2008 authorized the Board to acquire
and convey the treasury shares provided that the total amount of shares
acquired or conveyed is less than five percent (5%) of the total amount
of shares of the Corporation.

In January 2008 the Corporation sold at the market price (EUR 11.20 per
share) a total of 15,397 A shares through the Stock Exchange to the
President and CEO. The Corporation recorded a gain of EUR 0.1 million to
equity.

On June 30, 2008, the Corporation had a total of 54,944,492 Series A
shares (71% of shares and 11% of votes) and 22,565,708 Series K shares
(29% and 89% respectively), in total 77,510,200 shares, also representing
the total book counter-value in Euros.

On June 30, 2008 the Company had 112,115 treasury shares of Series A and
420 shares of Series K, corresponding to 0.15% of the Corporations shares
and 0.02% of the votes.

SHARE PRICES
Fiskars Series A and K shares are traded on the Large Cap segment of the
OMX Nordic Exchange Helsinki Oy. At the end of June, the price of one
Fiskars Series A share was EUR 10.90 (Dec 31, 2007 EUR 13.30) and the
price of one Series K share EUR 13.00 (14.45). At the end of the review
period the market value of the Corporation's share capital, excluding
treasury shares, was EUR 891 million.

ANNUAL GENERAL MEETING OF SHAREHOLDERS 2008
The Annual General Meeting of shareholders approved the financial
statements for 2007 on March 25, 2008. It was decided to pay a dividend
of EUR 0.80 per share for Series A shares, totaling EUR 43,865,901.60,
and EUR 0.78 per share for Series K shares, totaling EUR 17,600,924.64.
The record date for the dividend was March 28, 2008, and a dividend
totaling EUR 61,466,826.24 was paid on April 4, 2008. Members of the
Board and the President were discharged from liability for the 2007
financial year.

It was decided that the number of Board members be nine. Mr. Kaj-Gustaf
Bergh, Mr. Ralf Böer, Mr. Alexander Ehrnrooth, Mr. Paul Ehrnrooth, Ms.
Ilona Ervasti-Vaintola, Mr. Gustaf Gripenberg, Mr. Karl Grotenfelt, Mr.
Karsten Slotte, and Mr. Jukka Suominen were elected as Board members. The
term of the Board members will expire at the end of the Annual General
Meeting in 2009.

KPMG Oy Ab was elected auditor and they nominated Mr. Mauri Palvi as
responsible auditor.

The Annual General Meeting decided to authorize the Board to acquire
treasury shares, with the Corporation's distributable equity, no more
than 2,747,224 of Series A and no more than 1,128,285 of Series K shares.
The share price will be no higher than the highest price paid for the
shares of Fiskars Corporation in public trading at the time of purchase.
This authorization shall remain in force until the end of the next Annual
General Meeting.

The Annual General Meeting decided to authorize the Board to decide to
convey treasury shares to a maximum of 2,747,224 of Series A shares and a
maximum of 1,128,285 of Series K shares. The Board may decide on the
conveyance of the shares otherwise than in proportion to the
shareholders' pre-emptive subscription rights. This authorization shall
remain in force until the end of the next Annual General Meeting.

Convening after the Annual General Meeting, the Board elected Kaj-Gustaf
Bergh to be its Chairman and Alexander Ehrnrooth and Paul Ehrnrooth its
Vice Chairmen. The Board appointed Gustaf Gripenberg to be chairman of
the Audit Committee and its other members to be Ilona Ervasti-Vaintola,
Alexander Ehrnrooth, Paul Ehrnrooth and Karsten Slotte. The Board
appointed Kaj-Gustaf Bergh to be chairman of the Compensation Committee
and its other members to be Ralf Böer, Karl Grotenfelt, and Jukka
Suominen. The Board appointed Kaj-Gustaf Bergh to be chairman of the
Nomination Committee and its other members to be Alexander Ehrnrooth and
Paul Ehrnrooth.

In addition, the Annual General Meeting decided to amend the
Corporation's Articles of Association. The changes in the Articles of
Association were entered into the Trade Register on April 21, 2008.

NEW ORGANIZATION STRUCTURE 2008
On March 7, 2008, Fiskars announced a new organization and its related
new structure for segment reporting. From the beginning of 2008, Fiskars
reports the following business segments: Americas, EMEA (Europe, Middle
East, and Asia), Wärtsilä, and Other. The segment Other consists of Inha
Works and the Real Estate Group.

The 2007 financial statements were made according to the previous segment
division.

In a Stock Exchange Release on March 20, 2008, Fiskars published the
comparative figures for 2007 according to the new reporting structure.

The Corporation's business areas are: Garden, Homeware, Outdoor
Recreation, Craft, Real Estate, and Inha Works.

PERSONNEL
At the end of the review period, the company employed 4,395 persons
(3,333). At the end of 2007, the number of personnel was 4,515.

CHANGES IN CORPORATE MANAGEMENT
Mr. Kari Kauniskangas, M.Sc (Econ), took over as the President and CEO of
Fiskars Corporation at the beginning of 2008.

On March 7, 2008, Hille Korhonen, Lic.Tech. was appointed Vice President,
Operations, and a member of the Corporate Management Team.

Jim Purdin, CEO of Fiskars Brands, Inc., left the Corporation on March
31, 2008. Maija Elenius, Vice President, Corporate Control, left the
Corporation on March 7, 2008.

Teemu Kangas-Kärki, M.Sc.(Econ.) has been appointed CFO of Fiskars
Corporation on April 25, 2008. He will assume his duties during August
2008.

Juha Rauhala, Vice President, Corporate Finance, has agreed with the
Company that he will leave at the end of this year as published on May 9,
2008.

OUTLOOK 2008
The general market outlook for 2008 continues to be uncertain. Consumer
demand and sentiment both in the United States and Europe are weaker than
the previous year. Actions have already been taken to adjust the business
with the current environment in order to increase the company's
competitiveness in the future.

Further focus is put on the streamlining of the organization, operational
efficiency, and cost structure. At the same time price increases are
being implemented, although mostly impacting 2009. Despite the difficult
operating environment, new product development remains to be a key factor
for the future success.

Fiskars´ net sales are expected to increase during 2008 impacted by the
Iittala acquisition, which was closed in August 2007. Full year EBIT
excluding Wärtsilä and the change in the fair value of standing timber is
expected to be below the 2007 level. Consequently, the net profit will
not reach the level of 2007, especially, as the net profit in 2007 also
included a EUR 23.7 million gain from sale of Wärtsilä shares, and a
positive change of the value of standing timber, EUR 9.8 million.

Financial costs will increase due to the financing of Iittala and
Leborgne acquisitions.

The financial position continues to be strong. This allows us to continue
to invest in and grow our business even if the market situation is
challenging.

The associated company Wärtsilä will continue to have a major impact on
the Corporation's profit in 2008.

Fiskars will publish its Interim Report January-September on 31.10.2008.



Kari Kauniskangas
President & CEO
Fiskars Corporation





CONSOLIDATED INCOME STATEMENT      4-6    4-6 change    1-6    1-6 change   1-12
                                  2008   2007      %   2008   2007      %   2007
                                  MEUR   MEUR          MEUR   MEUR          MEUR

NET SALES                        187.3  161.6     16  362.0  311.5     16  647.0

Cost of goods sold              -123.4 -109.3     13 -242.5 -212.9     14 -437.8
GROSS PROFIT                      63.9   52.3     22  119.5   98.6     21  209.2

Other operating income             0.8   -0.1      0    1.3    0.8     58    5.8
Change in fair value of biologi    2.1    3.9    -46   -2.8    6.0      0   11.1
Sales and marketing expenses     -32.7  -19.5     68  -65.9  -40.8     62  -99.4
Administration expenses          -14.3  -12.3     16  -29.7  -25.4     17  -48.8
Research and development costs    -1.9   -1.5     23   -3.9   -3.0     30   -7.4
Other operating expenses           0.8   -0.1      0    0.5   -0.6      0   -4.2
Income from associate             16.2    8.6     89   29.8   15.5     92   43.3
OPERATING PROFIT (EBIT)           35.0   31.3     12   48.7   51.1     -5  109.5

Gain on sale of Wärtsilä shares                                             23.7
Financial income                   0.2    1.1    -83    0.2    1.7    -87    3.0
Financial expenses                -4.7   -3.5     35  -10.0   -5.8     72  -13.7
PROFIT BEFORE TAXES               30.5   28.9      5   38.9   47.0    -17  122.5

Income taxes                      -3.9   -3.6      6   -2.8   -7.1    -60  -12.1
PROFIT (LOSS) FOR THE PERIOD      26.6   25.3      5   36.1   40.0    -10  110.4

Attributable to:
Equity holders of the Parent Co   26.6   25.3      5   36.1   40.0    -10  110.0
Minority interest                  0.0    0.0           0.0    0.0           0.3
                                  26.6   25.3          36.1   40.0         110.4

Earnings for Equity holders of the Parent Company
per share, euro                   0.34   0.33          0.47   0.52          1.42

Earnings per share is undiluted. The company has no open option programs or
other earnings diluting financial instruments.

CURRENCY RATES                            1-6    1-6 change   1-12
                                         2008   2007      %   2007
USD average rate                         1.53   1.33     15   1.37
USD end-of-period                        1.58   1.35     17   1.47


CONSOLIDATED BALANCE SHEET               6/08   6/07 change  12/07
                                         MEUR   MEUR      %   MEUR
ASSETS

NON-CURRENT ASSETS
Intangible assets                       133.3   20.6    548  134.0
Goodwill                                 99.2   28.3    251   99.8
Tangible assets                         117.5   98.1     20  121.7
Biological assets                        42.1   40.3      4   44.9
Investment property                       8.1    8.5     -5    8.4
Investment in associate                 237.9  227.8      4  278.3
Other shares                              3.0    3.2     -7    3.0
Other investments                         2.6    1.7     56    2.3
Other long-term tax receivables                  3.8           0.3
Deferred tax assets                      21.9   23.2     -6   20.6
NON-CURRENT ASSETS TOTAL                665.3  455.3     46  713.4

CURRENT ASSETS TOTAL
Inventories                             175.1  126.9     38  173.7
Trade receivables                       132.9  125.2      6  115.2
Other receivables                        12.4    4.5    176   10.4
Cash and cash equivalents                13.1   17.0    -23   34.5
CURRENT ASSETS TOTAL                    333.4  273.6     22  333.8

Assets held for sale                      1.1

ASSETS TOTAL                            999.9  728.9     37 1047.1

SHAREHOLDERS' EQUITY AND LIABILITIES

Equity attributable to
equity holders of the parent company    446.3  415.2      8  477.8
Minority interest                         0.0    0.0           0.5
SHAREHOLDERS' EQUITY TOTAL              446.4  415.2      8  478.3

NON-CURRENT LIABILITIES
Interest bearing debt                   160.5  132.3     21  124.6
Non-interest bearing debt                 1.8    2.0    -11    4.7
Deferred tax liabilities                 50.6   22.5    125   51.7
Pension liability                         8.7   12.1    -28    9.4
Provisions                                5.7    4.3     35    6.2
NON-CURRENT LIABILITIES TOTAL           227.3  173.2     31  196.7

CURRENT LIABILITIES
Interest bearing debt                   194.2   22.1    779  228.9
Trade payable and
other non-interest bearing debt         126.6  114.0     11  139.4
Income tax payable                        5.5    4.5     22    3.8
CURRENT LIABILITIES TOTAL               326.2  140.6    132  372.1

SHAREHOLDERS' EQUITY AND LIABILITIES T  999.9  728.9     37 1047.1


CONSOLIDATED STATEMENT                           4-6    4-6    1-6    1-6   1-12
OF CASH FLOWS                                   2008   2007   2008   2007   2007
                                                MEUR   MEUR   MEUR   MEUR   MEUR
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before taxes                         30.4   28.9   38.9   47.0  122.5
Adjustments for
  Depreciation                                   6.5    5.2   13.1   10.4   23.2
  Gain on sale of non-current assets                                       -26.1
  Income from associate                        -16.2   -8.6  -29.8  -15.5  -43.3
  Investment income                             -0.3   -1.0   -0.2   -1.3   -3.0
  Interest expense                               4.8    3.3   10.0    5.3   13.7
  Chg in value of biological assets             -2.1   -3.5    2.8   -5.3  -10.0
Cash generated before working capital changes   23.2   24.4   34.8   40.7   77.0

Change in working capital
  Change in interest free assets                 6.5    0.6  -21.1  -36.6   -9.7
  Change in inventories                          2.4   -5.7   -5.2  -10.0   -1.5
  Change in interest free liabilities           -4.7    9.8   -7.8   17.9   11.4
Cash generated before financing and taxes       27.4   29.1    0.7   12.0   77.2

Dividends from associate                        67.2          67.2   27.7   27.7
Dividends received, other                        0.0    0.1    0.0    0.1    0.1
Financial costs paid (net)                      -6.1   -3.9  -11.1   -5.2  -11.8
Taxes paid                                      -2.4   -2.8   -4.7   -4.3  -11.2
NET CASH FROM OPERATING ACTIVITIES A            86.1   22.5   52.2   30.3   82.0

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions                                    -3.1  -13.1   -3.1  -13.1 -169.2
Net change in shares in associate                                           -0.1
Capital expenditure                             -6.4   -4.8  -12.4   -8.1  -20.5
Proceeds from sale of fixed assets               0.4    0.0    0.8    0.1    2.4
Sale of other investments                        0.1    3.1           3.2    4.1
Capital expenditure in other investments         0.6   -0.2   -0.1   -0.3    0.0
NET CASH USED IN INVESTING ACTIVITIES B         -8.4  -15.0  -14.7  -18.2 -183.4

CASH FLOWS FROM FINANCING ACTIVITIES
Sell of treasury shares                                        0.2
Proceeds from l/t borrowings                            0.0   37.5           0.6
Repayment of l/t borrowings                     -0.1   -0.2   -0.1   -0.2   -0.1
Proceeds from/payment of s/t borrowings        -45.1    2.3  -33.3    9.1  137.6
Payment of financial leases liabilities         -3.5   -0.7   -1.7   -1.5   -1.8
Cash flows from other financing items            0.4   -1.2   -1.0   -0.7    0.9
Dividends paid                                 -61.5    0.0  -61.5  -46.0  -46.0
NET CASH USED IN FINANCING ACTIVITIES C       -109.7    0.2  -60.0  -39.2   91.3

CHANGE IN CASH (A+B+C)                         -32.1    7.7  -22.5  -27.1  -10.2

Cash at beginning of period                     43.1   10.0   34.5   44.9   44.9
Translation difference                           2.0   -0.7    1.1   -0.8   -0.3
Cash at end of period                           13.1   17.0   13.1   17.0   34.5


STATEMENT OF CHANGES IN        Equity holders of the parent companMinorit  Total
CONSOLIDATED SHAREHOLDERS' EQUITY       Trea-   Fair Cumul.       interest
                                 Share   sury  valuetransl.Retain.
                               capital sharesreserve  diff.  earn.
                                  MEUR   MEUR   MEUR   MEUR   MEUR   MEUR   MEUR
Dec 31, 2006                      77.5   -0.9   21.6   -1.5  325.0    0.0  421.8
Translation differences                                -2.0           0.0   -2.0
Change in fair value reserve, associate          0.3                         0.3
Changes in associate                                    0.5                  0.5
Equity net investment hedges after tax                  0.6                  0.6
Other changes                                                         0.0    0.0
NET INCOME RECOGNISED DIRECTLY IN EQUITY         0.3   -0.9    0.0    0.0   -0.6
Net profit for the period                                     40.0    0.0   40.0
TOTAL RECOGNISED INCOME AND
EXPENSE FOR THE PERIOD                           0.3   -0.9   40.0    0.0   39.4
Dividends paid                                               -46.0         -46.0
Jun 30, 2007                      77.5   -0.9   21.9   -2.4  319.1    0.0  415.2
Translation differences                                -8.4           0.0   -8.4
Changes in associate                            -0.5   -0.5                 -1.0
Equity net investment hedges after tax                  1.9                  1.9
Other changes                                                         0.1    0.1
NET INCOME RECOGNISED DIRECTLY IN EQUITY        -0.5   -6.9    0.0    0.1   -7.3
Net profit for the period                                     70.0    0.3   70.4
TOTAL RECOGNISED INCOME AND
EXPENSE FOR THE PERIOD                          -0.5   -6.9   70.0    0.5   63.1
Dec 31, 2007                      77.5   -0.9   21.4   -9.3  389.1    0.5  478.3
Translation differences                                -7.4           0.0   -7.4
Changes in associate                            -2.2                        -2.2
Equity net investment hedges after tax                  2.7                  2.7
Other changes                             0.1                  0.5   -0.5    0.2
NET INCOME RECOGNISED DIRECTLY IN EQUI    0.1   -2.2   -4.7    0.5   -0.5   -6.7
Net profit for the period                               0.1   36.1    0.0   36.2
TOTAL RECOGNISED INCOME AND
EXPENSE FOR THE PERIOD                    0.1   -2.2   -4.6   36.6   -0.5   29.5
Dividends paid                                               -61.5         -61.5
Jun 30, 2008                      77.5   -0.8   19.2  -13.9  364.3    0.0  446.4

The fair value reserve includes Fiskars share of associate company Wärtsilä's
fair value reserve and its changes.

Equity net investment hedges have been re-classified to translation differences
as of Jan 1, 2008.


KEY FIGURES                       6/08   6/07 change  12/07
                                                   %
Equity/share, euro                5.77   5.36      7   6.18
Equity ratio                       45%    57%           46%
Net gearing                        77%    33%           67%
Equity, meur                     446.4  415.2      8  478.3
Net interest bearing debt, meur  341.6  137.4    149  319.0
Average number of employees       4375   3112     41   3324
Number of employees, eop          4395   3333     32   4515



This interim financial report is prepared in accordance with
IAS 34 (Interim Financial Reporting) using the same accounting policies and
methods of computation as in the annual financial statements for 2007.
All figures in the accounts have been rounded and consequently the sum of
individual figures can deviate from the presented sum figure.
Fiskars Corporation has adopted IFRS 8 (Operating Segments) as of
January 1, 2008. This will impact on disclosure information.

Formulas for Calculation of Ratios can be found in the Annual Report 2007,
page 40.

Use of estimates:
The preparation of the financial statements in accordance with IFRS requires
management to make estimates and assumptions that affect the valuation of the
reported assets and liabilities and other information, such as contingent
liabilities and the recognition of income and expenses in the income statement.
Although the estimates are based on the management's best knowledge of current
events and actions, actual results may differ from the estimates.

Amended and new International Financial Reporting Standards (IFRS) as of
1 January 2008:
 - IFRIC 11 IFRS 2 - Group Treasury Share Transaction
 - IFRIC 12 Service Concession Agreements
 - IFRIC 13 Customer Loyalty Programmes
 - IFRIC 14 IAS 19 - The Limit on Defined Benefit Asset, Minimum Funding
   Requirements and their Interaction

The adoption of the new and revised standards and interpretations does not have
any material effect on the interim financial report.


SEGMENT INFORMATION                4-6    4-6 change    1-6    1-6 change   1-12
NET SALES                         2008   2007      %   2008   2007      %   2007
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA *)                          117.4   78.2     50  232.7  155.6     49  365.9
Americas *)                       59.5   72.9    -18  112.0  136.8    -18  255.3
Other                             14.1   16.0    -12   27.5   29.5     -7   45.9
Inter-segment sales **)           -3.8   -5.5    -32  -10.2  -10.5     -2  -20.1
CORPORATE TOTAL                  187.3  161.6     16  362.0  311.5     16  647.0

Export from Finland               24.4   17.8     37   54.7   38.6     42   78.6


SEGMENT INFORMATION                4-6    4-6           1-6    1-6          1-12
OPERATING PROFIT (EBIT)           2008   2007          2008   2007          2007
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA *)                           10.6    9.3          13.9   20.3          38.9
Americas *)                        6.7    9.2           8.7    9.5          22.2
Other                              2.4    5.9          -1.1    9.6          14.6
Associate Wärtsilä                16.2    8.6          29.8   15.5          43.3
Unallocated and eliminations      -0.9   -1.8          -2.7   -3.8          -9.4
CORPORATE TOTAL                   35.0   31.3          48.7   51.1         109.5


SEGMENT INFORMATION                4-6    4-6           1-6    1-6          1-12
DEPRECIATIONS                     2008   2007          2008   2007          2007
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA *)                            4.0    2.2           8.0    4.3          10.8
Americas *)                        1.7    2.3           3.5    4.6           9.3
Other                              0.8    0.7           1.5    1.4           2.7
Unallocated and eliminations       0.1    0.1           0.1    0.1           0.4
CORPORATE TOTAL                    6.5    5.2          13.1   10.4          23.2


SEGMENT INFORMATION                4-6    4-6           1-6    1-6          1-12
CAPITAL EXPENDITURE               2008   2007          2008   2007          2007
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA *)                            7.8   15.8          11.8   17.8         181.5
Americas *)                        0.9    1.0           1.4    1.5           3.2
Other                              1.0    1.3           2.1    2.3           5.3
Associate Wärtsilä                                                          28.9
Unallocated and eliminations       0.0    0.3           0.1    0.4           1.6
CORPORATE TOTAL                    9.7   18.5          15.4   22.1         220.6

*) In a Stock Exchange Release on March 20, 2008, Fiskars published the
comparative figures for 2007 according to the new reporting structure.
Since the publication of the Stock Exchange Release, Australia has
operationally been moved from the Americas to the EMEA segment and the
comparative figures changed accordingly.

**) Inter-segment sales
EMEA                               2.7    2.7           6.8    6.1          10.8
Americas                           1.2    2.7           2.9    3.9           8.5
Others                             0.0    0.0           0.5    0.4           0.7

Short delivery times are a prerequisite in Fiskars' fields of operations.
Therefore, the backlog of orders and changes in it are not of
significant importance.


SEGMENT INFORMATION                4-6    4-6 change    1-6    1-6 change   1-12
NET SALES BY BUSINESS AREAS       2008   2007      %   2008   2007      %   2007
                                  MEUR   MEUR          MEUR   MEUR          MEUR
Garden                            75.7   76.3     -1  146.8  148.7     -1  251.2
Homeware                          54.0   12.1    348  104.3   24.8    321  142.2
Craft                             20.9   28.5    -27   37.8   52.8    -28   92.1
Outdoor Recreation                23.3   28.6    -18   46.5   55.7    -17  116.2
Inha Works                        12.9   15.1    -14   24.8   27.8    -11   42.0
Real Estate                        0.7    0.9    -21    1.8    1.6     13    3.4
Others                            -0.2    0.2           0.2    0.2           0.0
CORPORATE TOTAL                  187.3  161.6     16  362.0  311.5     16  647.0


INTANGIBLE ASSETS                        6/08   6/07  12/07
                                         MEUR   MEUR   MEUR
Book value, Jan. 1                      233.8   41.6   41.6
Currency translation adjustment          -1.1   -2.4   -4.4
Acquisitions                                     9.2  197.3
Capital expenditure                       1.0    0.5    1.9
Amortization and impairment              -2.5    0.0   -4.2
Disposals and transfers                   1.3    0.0    1.7
BOOK VALUE AT END OF PERIOD             232.4   48.8  233.8


TANGIBLE ASSETS                          6/08   6/07  12/07
                                         MEUR   MEUR   MEUR
Book value, Jan. 1                      130.2  107.4  107.4
Currency translation adjustment          -3.3   -0.8   -4.2
Acquisitions                                     0.0   27.5
Capital expenditure                      11.3    8.1   18.6
Depreciation and impairment             -10.5   -8.7  -19.0
Disposals and transfers                  -2.1    0.6    0.0
BOOK VALUE AT END OF PERIOD             125.5  106.6  130.2


CONTINGENCIES AND PLEDGED ASSETS         6/08   6/07  12/07
                                         MEUR   MEUR   MEUR
AS SECURITY FOR OWN COMMITMENTS
Guarantees                                  1             1
Lease commitments                          64     17     53
Other contingencies                        10      8      7
TOTAL                                      76     25     62

GUARANTEES AS SECURITY FOR
THIRD-PARTY COMMITMENTS
Real estate mortgages                       2      2      2

AS SECURITY FOR SUBSIDIARIES'
COMMITMENTS
Guarantees                                 12     12     13

TOTAL CONTINGENCIES AND PLEDGED ASSETS     90     38     76


NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                104     74    186
Interest rate swaps                        16            16
Forward interest rate agreements           30            60
Electricity forward agreements              1             1

MARKET VALUE VS. NOMINAL AMOUNTS
OF DERIVATIVES

Forward exchange contracts                  0     -1      0
Interest rate swaps                         0             0
Forward interest rate agreements            0             0
Electricity forward agreements              0             0

Forward exchange contracts have been valued at market in the
financial statements.


RELATED PARTY TRANSACTIONS

The dividend from Wärtsilä EUR 67.2 million is reported as Income from
associate.