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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, February 14, 2008, at 08.30 a.m.

FISKARS FINANCIAL STATEMENT BULLETIN 2007
The figures stated in this bulletin are audited.

FISKARS CORPORATION NET SALES GREW SIGNIFICANTLY AND PROFITABILITY IMPROVED

Highlights of the fourth quarter:
- Net sales increased and were EUR 191.8 million (125.1)
- Operating profit before income from associated company Wärtsilä improved and
was EUR 14.0 million (2.3)
- Iittala's net sales in the fourth quarter were EUR 71.4 million and its
operating profit was EUR 8.5 million
- Income from associate Wärtsilä was EUR 16.7 million (17.7)
- Earnings per share was EUR 0.41 (0.12)

The Board proposes a dividend for the fiscal year 2007 of EUR 0.80 per share of
Series A and EUR 0.78 per share of Series K.

FISKARS CORPORATION HIGHLIGHTS
--------------------------------------------------------------------------------
| EUR million           | Q4/ 2007   | Q4 / 2006   | 1-12/2007   | 1-12/2006   |
--------------------------------------------------------------------------------
| Net sales             | 191.8      | 125.1       | 658.1       | 534.9       |
--------------------------------------------------------------------------------
| Operating profit from | 14.0       | 2.3         | 66.3        | 27.2        |
| wholly-owned          |            |             |             |             |
| businesses            |            |             |             |             |
--------------------------------------------------------------------------------
| Income from associate | 16.7       | 17.7        | 43.3        | 58.6        |
--------------------------------------------------------------------------------
| Operating profit      | 30.7       | 20.0        | 109.5       | 85.8        |
--------------------------------------------------------------------------------
| Profit before taxes   | 34.1       | 18.5        | 122.5       | 76.7        |
--------------------------------------------------------------------------------
| Net profit for the    | 31.9       | 9.5         | 110.0       | 82.0        |
| period                |            |             |             |             |
--------------------------------------------------------------------------------
| Earnings/share from   | 0.41       | 0.12        | 1.42        | 0.86        |
| continuing            |            |             |             |             |
| operations, EUR       |            |             |             |             |
--------------------------------------------------------------------------------
| Earnings/share,       | 0.41       | 0.12        | 1.42        | 1.06        |
| total, EUR            |            |             |             |             |
--------------------------------------------------------------------------------
| Cash from operations  |            |             | 86.5        | 99.0        |
--------------------------------------------------------------------------------


THE FOURTH QUARTER
Net sales of the fourth quarter grew mainly because of acquisitions; of the net
sales of EUR 191.8 million (125.1), Iittala represented EUR 71.4 million and
Leborgne EUR 3.7 million.

Operating profit increased and was EUR 30.7 million (20.0). Iittala performed
right on plan and its share of the operating profit was EUR 8.5 million,
including EUR 3.3 million costs from PPA. Iittala's business is seasonal and a
major part of both sales and operating profit is generated during the fourth
quarter. Fiskars Brands profitability improved significantly; its operating
profit was EUR 10.4 million (0.0). The operating profit for the corresponding
period last year includes non-recurring restructuring costs of EUR 4.2 million.
The operating profit for the Real Estate Group was EUR -0.1 million (2.4). The
price of standing timber began to decrease at the end of the year.

Purchase of Wärtsilä Series A shares and the simultaneous divestment of Wärtsilä
B shares was continued during the fourth quarter and a gain of EUR 6.9 million
is recognized.  Net financial costs increased and were EUR 3.5 million (1.5) due
to the financing of Iittala acquisition. Taxes were EUR 1.8 million (9.3). The
profit for ordinary shareholders during the fourth quarter was EUR 31.9 million
(9.5) and the earnings per share of equity holders was EUR 0.41 (0.12).

REPORT BY THE BOARD OF DIRECTORS 2007

Highlights of the fiscal year  2007

Fiskars Corporation's net sales increased by 23% to EUR 658.1 million (534.9).
The structure of Fiskars Corporation changed significantly through acquisitions:
Iittala Group was consolidated as from August 31, and Leborgne S.A. as from May
1, 2007 onwards. Iittala is a separate business segment within the Corporation
and Leborgne is included in Fiskars Brands. The acquisitions increased net sales
by EUR 97.8 million.
The Corporation's profitability increased significantly. The operating profit
for wholly-owned businesses was EUR 66.3 million (27.2) or 10.1% of net sales
(5.1).
Wärtsilä A shares were purchased and the same number of Wärtsilä Series B shares
were divested, resulting in a gain of EUR 23.7 million (0). The earnings per
share was EUR 1.42 (1.06). The earnings per share for continuing operations was
EUR 1.42 (0.86).

The key figures are available under Five Years in Figures.

Businesses

Fiskars Brands
Fiskars Brands net sales increased by 5.3% and were EUR 515.7 million (489.9).
The profitability of operations increased significantly, with operating profit
at EUR 52.2 million (21.1), rising to 10.1% of net sales from 6.5% last year.
The previous year's included non-recurring restructuring costs of EUR 10.6
million. Sales in Europe totaled EUR 256.1 million (214.3) and US sales were EUR
216.5 million (233.5). European sales constituted 49.7% of sales (43.7) with the
US share being 42.0% (47.7).

Net sales increased due to acquisitions. The Silva Group acquired at the end of
August 2006, increased annual sales by EUR 24.8 million. The acquisition in May
2007 of Leborgne S.A., the French manufacturer and seller of garden tools,
increased net sales by EUR 10.5 million. Gerber's sales in the US outdoor
recreation market continued its organic growth. The available outdoor recreation
product range has grown, particularly in large retail chains, and early in the
year Fiskars Brands received a significant supply contract to the US authorities
and military. The weakening of the US dollar decreased net sales, but with
constant exchange rates sales would have increased by 9.7%. Streamlining the
product range in the US Garden division lowered net sales by EUR 16.9 million
from the previous year, while the profitability increased.

During the fiscal year, demand was stable in the main market areas for Fiskars
BrandsNorth America and North and Central Europedespite intense price
competition in the US markets. The one-off marketing effort, at the end of 2006,
to increase sales of garden tools in the United States proved a success. The
large retail chains mostly make their supplier and stock-keeping-unit selections
based on annual decision-making schedules and major changes are always possible.
New markets have been entered in Eastern Europe and export to the region has
increased. A Fiskars Brands Inc. branch has been established in China and the
first shop-in-shops selling Fiskars Outdoor Recreation products have been opened
in high-end department stores.

Restructuring of the Fiskars Brands own production and increased sourcing, begun
in 2005 and completed early in the fiscal year, together with increased sales of
Outdoor Recreation products during the year, has clearly increased
profitability, particularly in the United States. Integration of the Leborgne
operations within the Garden division's operations in Central Europe has
proceeded according to plan and is strengthening Fiskars' share of these markets
in Central Europe.

Product development costs were EUR 5.8 million (5.5) or 1.1% of net sales (1.1).
Capitalized development cost were EUR 0.4 million. The new products' share of
net sales continued to grow.

Capital expenditure during the fiscal period was EUR 26.6 million (37.5), of
which EUR 13.2 million were acquisitions (25.6). In Poland the expansion of the
production facility started. The factory will be producing garden tools mostly
for the Central European markets. In Finland, investments were made at the
Billnäs plant, both to develop production and to increase capacity. Most of the
investments were for tooling for new products. Investments were also made in
information systems for product life-cycle management.

At the end of the fiscal year, Fiskars Brands employed 2,724 people (2,659). The
acquisition of Leborgne S.A. increased the number of employees by 125, while the
increase of production capacity for Gerber outdoor recreation products increased
the number of employees by 42. In the company's other operations in the United
States, the number of staff continued to decrease.

Iittala
The acquisition of the Iittala Group was closed on August 31, since then Iittala
Group Oy Ab and its subsidiaries (Iittala Group) has been consolidated with
Fiskars Corporation. Iittala Group is a leading homeware design company that
represents the best of modern Scandinavian design. Iittala Group's home markets
are Finland, Sweden, and Norway, and the company has strong brands in Iittala,
Arabia, Hackman, BodaNova, Höganäs Keramik, Rörstrand, and Høyang-Polaris. At
the time of the acquisition Iittala Group had subsidiaries in Sweden, Norway,
Denmark, the Netherlands, the United States, Germany, and Estonia. The total
purchase price was EUR 230.1 million including the assumption of debt. Of the
purchase price, EUR 98.1 million was allocated to trademarks, EUR 17.0 million
to assets related to customer relationships, and EUR 3.9 million to inventories.
The goodwill was EUR 72.5 million. The share allocated to inventories has been
fully realized during the fiscal year and amortization of EUR 0.4 million has
been booked for the assets related to customer relationships.

Iittala net sales consolidated to Fiskars were EUR 87.3 million and the
operating profit was EUR 8.8 million. The operating profit before the impact of
the purchase price allocation was EUR 13.1 million. The development of
operations during the fiscal period corresponds to the projected plans on which
the acquisition was based. Iittala Group's net sales for the whole year 2007
were EUR 200.3 million. Both sales and operating profit are mostly being
generated towards the end of the year.

Iittala sells its products both to retailers and directly to consumers through
its network of Iittala stores and factory outlets. Wholesale sales comprise 73%
of net sales annually, while retail sales represent 27%. During the fall, four
new Iittala concept stores were opened. At the end of the fiscal year, Iittala
had a total of 30 Iittala stores in seven countries. In addition to these, the
company had a total of 38 factory outlets in Finland, Sweden, and Norway.

Iittala had in 2007 production plants in Helsinki, Nuutajärvi, Iittala,
Sorsakoski, and Vähäkyrö in Finland; Höganäs in Sweden; and Moss in Norway.
Iittala has continued to develop its production and sourcing and increased the
share of sourcing. As part of this process, the closing of the factory in Moss,
Norway, was completed at the end of the year.

Synergies from Iittala and the Fiskars Housewares businesses are expected both
in the Scandinavian markets and in purchasing.

Iittala capital expenditure during the latter part of the fiscal year were EUR
2.1 million and were mainly related to development of production and the opening
of new stores.
Product development costs were EUR 0.8 million or 0.9% of net sales. Sales of
the Taika line of chinaware launched in the second half of the year exceeded
expectations.
At the end of the year, Iittala employed 1,443 people. Due to the increase in
demand towards the end of the year, the number of employees also increased
somewhat during the fourth quarter.

Inha Works
Net sales from Inha Works increased by 13.1% to EUR 42.1 million (37.2). The
operating profit was EUR 3.3 million (3.7). Sales of boats rose strongly,
particularly in Finland and Russia. The new Buster X has become one of the most
popular boat models in Finland. Production operated at full capacity throughout
the entire fiscal year. Delivery of new models was delayed from the planned
schedule into the year 2008. To ensure that the possibilities for growth would
be fully exploited, the company invested in an enhanced production strategy.

During the year, the company developed and launched a new Buster XXL and also
entered another area of the boat market with their new covered version, the
Buster XXL AWC (All Weather Cruiser). Product development costs were EUR 0.8
million (0.6) or 2.0% (1.6%) of net sales and were mostly due to the development
of the new boat models. Capitalized development costs were EUR 0.7 million
(0.3).

Sales of the non-core products manufactured by Inha Workshinges and forged
products remained on the same level as the previous year. Profitability for
hinges weakened due to competition and demand decreased towards the end of the
year.

Capital expenditure totaled EUR 3.6 million (1.2). The biggest investments were
in production capacity and tooling for new boat models and renewal of the
company's ERP.

At the end of the year, Inha Works had a staff of 306 (301). In the latter half
of the year, the number of employees working with hinges decreased.

Real Estate Group
In addition to leasing real estate to internal and external customers, the Real
Estate Group manages the Corporation's forests. The change in the market value
of biological assets is included in net sales. The price of standing timber
increased until October-November and decreased in December. The value of timber
increased by EUR 9.8 million (4.8) during the fiscal year. Net sales for the
Real Estate Group, of which the increase in the value of biological assets
formed the largest part, were EUR 15.6 million (10.3). The operating profit was
EUR 11.3 million (7.6). Capital expenditure totaled EUR 1.8 million (1.9). The
number of staff at the end of the fiscal year was 24 (27).

Associated company Wärtsilä Corporation
Fiskars income from associate Wärtsilä was EUR 43.3 million (58.6). Wärtsilä's
2006 year's profits included non-recurring gains, their impact to Fiskars' share
of the profits being EUR 28.6 million.

At the end of the fiscal year, Fiskars share of Wärtsilä equity was 16.51%
(16.55) and its share of the votes 32.19% (30.44). During the fiscal year,
Fiskars acquired 607,757 Wärtsilä Series A shares and divested the same number
of Series B shares, giving Fiskars an increased share of the votes. The trade in
Wärtsilä shares generated a gain of EUR 23.7 million. The total cost for the
acquisition of Series A shares was EUR 28.9 million.

The book value of Fiskars investment in Wärtsilä at the end of the year was EUR
278.3 million (239.1), of which EUR 61.2 million was goodwill (37.7). Fiskars
received a total of EUR 27.7 million in dividends (47.5) from Wärtsilä during
2007. In December Fiskars sold the main part of its investment in Wärtsilä into
its wholly owned subsidiary Avlis AB.

At the end of the year, the market value of Fiskars' shares in Wärtsilä was EUR
833.2 million.

Corporate net sales
Corporate net sales totaled EUR 658.1 million (534.9), an increase of  23%
versus previous year. Europe's share of net sales was 59.6% (47.7) and increased
due to changes in exchange rates and the acquisitions, which increased net sales
particularly in Europe. The United States generated 34.5% of net sales (44.1).
The change in the average rate of exchange for the US dollar compared to the
year before decreased net sales by 4.8%.

Corporate profit
Corporate operating profit from its own operations was EUR 66.3 million (27.2).
The previous year's profit includes non-recurring costs of EUR 10.6 million.
Profitability improved to 10.1% of net sales (7.1). In the United States, the
restructuring of production within the Fiskars Brands segment in 2006-07
substantially improved profitability during the fiscal year, and the new Iittala
segment's operating profit, which mainly is derived during the fourth quarter,
also improved profitability. Fiskars' income from associate Wärtsilä was EUR
43.3 million (58.6). The operating profit including the income from Wärtsilä was
EUR 109.5 million (85.8).

Net financing costs were EUR 10.7 million (9.1). Interest costs increased as the
Iittala acquisition was wholly financed by debt.

Profit before taxes improved and was EUR 122.5 million (76.7), including gains
of EUR 23.7 million from the sale of Wärtsilä shares (0).

Taxes for the fiscal year were EUR 12.1 million (9.8). The effective tax rate is
relatively low due to gain on the sale of Wärtsilä shares and the income from
associate Wärtsilä.

The minority interest was EUR 0.3 million (0.0). The profit for the fiscal year
attributable to equity holders of the parent company was EUR 110.0 million
(82.0). The previous year's profit included EUR 15.2 million of profit from
discontinued operations. The earnings per share attributable to equity holders
of the company was EUR 1.42 (1.06).

Balance sheet, financing and cash flow

Acquisitions made during the fiscal year have significantly changed the
structure of the balance sheet.

The Corporation's net working capital was EUR 156.2 million (104.0). Non-current
assets totaled EUR 713.4 million (460.0). Of this, EUR 134.0 million were
intangible assets (19.2), and EUR 99.8 million goodwill (22.4).

The Corporation's liquidity is strong. Cash and cash equivalents at the end of
the fiscal year were EUR 34.5 million (44.9), in addition to which the
Corporation had EUR 425 million in unused long-term credit facilities.

As Iittala and Leborgne acquisitions, totaling  EUR 243.2 million, were financed
with debt interest-bearing net debt increased to EUR 319.0 million (101.9). Debt
includes the capital loan of EUR 45.1 million issued to shareholders in 2004.

Equity totaled EUR 478.3 million at the end of the fiscal year (421.8). The
return on invested capital increased to 19.1% (18.1). The Corporation's equity
to assets ratio was 46% (60) and net gearing 67% (24). Corporation's financial
position continues to be good.

Cash flow from operations was EUR 82.0 million (99.0). Net cash used in
investing activities totaled EUR 183.4 million (10.1), of which acquisitions
comprised EUR 169.2 million (26.0).

Personnel
Corporate employed 4,515 people at the end of the fiscal year (3,003). The
increase by 1,512 employees is due to the acquisition of Iittala (1,443) and
Leborgne (110). At the same time, there was a geographical shift in personnel
and the Corporation now employs 1,853 people in Finland (779).

During the fiscal year, wages, salaries, and benefits totaled EUR 140.3 million
(121.3).

The key figures are available under Five Years in Figures.

Corporate management
Mr. Heikki Allonen, M.Sc (Eng), was CEO and President until December 31, 2007.
On August 13, 2007, Fiskars Board of Directors appointed Mr. Kari Kauniskangas,
M.Sc (Econ), to become CEO and President of Fiskars Corporation at the beginning
of 2008.

Corporate Governance
Fiskars complies with the Corporate Governance Recommendation for Listed
Companies of the Helsinki Stock Exchange, the Central Chamber of Commerce and
the Confederation of Finnish Industry and Employers, which came into force July
1, 2004.

Fiskars also complies with the insider regulations of the Helsinki Stock
Exchange adopted on January 1, 2006. The Corporation further applies internal
insider guidelines as adopted on July 1, 2006.

Management of risks and uncertainties
The most important operational risks for Fiskars relate to supply-chain
management, the potential structural changes in the retail environment of
various markets, and also in part to the development of the prices of raw
materials and energy and the ability to foresee changes in demand. Particular
efforts are made to improve supply-chain management and build ties with
suppliers as sourcing is increased in accordance with the Corporation strategy.
In order to mitigate possible problems with the supply and logistics, the
Corporation has also increased inventories. The potential structural changes in
distribution channels are seen to represent a risk, and operations are required
to increase flexibility and the ability to plan ahead. Changes in the costs of
raw materials directly influence the cost of the company's own manufacturing and
indirectly purchasing costs. The price increases for energy impacts on the cost
of the Corporation's own manufacturing processes as well as the cost of
logistics and indirectly purchasing costs. The Corporation has not used
raw-material derivative instruments, but strives to make long-term contracts
with key suppliers of raw materials.

The nature of the company's industrial operations is mainly such that they pose
no significant environmental risks. Changes in environmental regulations and
changes in production capacity or structure may cause additional costs at some
of the older production facilities. The company is committed to complying with
legislation and statutes for the protection of the environment and strives to
develop its production and modes of operation in ways that minimize their burden
on the environment.

The development of associated company Wärtsilä's profitability has a significant
impact on Fiskars' results, with the associated company's ability to pay
dividends influencing Fiskars' cash flow.

Fiskars Board of Directors regularly reviews the principles for the management
of financial risks and in accordance with the Corporation's investment policies,
liquid assets are only invested in low-risk entities. Trade receivables are
relatively widely spread both geographically and between customers, and major
customers generally have a high credit rating. No significant credit losses have
materialized during the review period.

The increasing share of imports from low cost countries indirectly involves a
higher risk against the suppliers' currencies, mainly Chinese Renminbi (CNY).
The Corporation has hedged a certain part of its most significant foreign
currency net investments in its subsidiaries against exchange rate fluctuations
and as from January 1, 2007, it has applied hedge accounting in accordance with
the IAS 39 standard. An exchange rate gain of EUR 2.5 million on hedges of net
investments is reported in Shareholders' Equity.

Environment
The company does not specify environmental costs as they are part of the
on-going business activities and development of business operations. During the
fiscal year no significant environmental investments have been made, but when
production operations are being developed, or replacement or expansion
investments are made, existing environmental permits and expected changes in
them are always considered.

Iittala's production operations are more energy-intensive than the rest of the
Fiskars production. During the fiscal year, environmental responsibility surveys
were completed at all Iittala factories. On the basis of the surveys, there was
no need to book provisions or contingent liabilities. All production facilities
have up-to-date environmental permits and production has been organized
accordingly.

Shares
Fiskars Corporation's A shares carry one vote per share, and Series K shares
carry 20 votes per share.

The dividend per share paid out on Series A shares shall, according to the
Corporation's Articles of Association, be a minimum of two (2) percentage points
higher than the dividend paid out on Series K share. The shares have no nominal
value. The book counter-value for both series of shares is EUR 1.00.

On December 31, 2007, the Fiskars share capital totaled EUR 77,510,200. The
share capital consisted of 54,944,492 Series A shares and 22,565,708 Series K
shares. The share capital and the number of shares were unchanged during the
fiscal year.

The shares of Series A had 54,944,492 votes, or 10.9% of votes, and the shares
of Series K had 451,314,160 votes, or 89.1% of votes. The total number of votes
of both series was 506,258,652 at the end of the fiscal year.

Purchase and sale of own shares
The Board of Directors had an authorization to purchase and sell the
Corporation's shares until the Annual General Meeting on March 21, 2007,
provided that the total nominal value of such shares and the votes carried by
them did not exceed ten percent (10%) of the share capital and the total votes
in the company. At the Annual General Meeting on March 21, the authorization was
renewed without changes. The Board did not exercise its authorization during the
review period.

At December 31, 2007, the company held in total 127,512 of its own A-shares and
420 K-shares. The holding has not changes during the review period, and the
number of shares equals 0.2% of the entire share capital of the company and
0.03% of the votes.

The EUR 0.9 million repurchase cost of the Corporation's own shares decreased
the Corporation's equity.

Share prices
Fiskars shares are traded on the OMX Nordic Exchange Helsinki. The shares were
moved to the Large Cap Helsinki segment on July 1, 2007. At the end of December,
the price of one Fiskars A share was EUR 13.30 (12.29) and the price of one K
share EUR 14.45 (12.11). The market value of the Corporation's share capital was
EUR 1,055 million at the end of the fiscal year.

Changes in ownership
On September 4, 2007, Fiskars Corporation was informed that Virala Oy Ab had
increased its holdings to more than 1/5 of the voting rights in Fiskars
Corporation. Holdings of share capital are still more than 1/10. On September 4,
2007, the shares of votes and shares were 20.2% and 11.1% respectively. On
September 4, 2007, Fiskars Corporation was informed that Varma Mutual Pension
Insurance Company had decreased its holdings to less than 1/20 of the voting
rights in Fiskars Corporation. On September 4, 2007, the share of votes and
shares were 2.7% and 4.3% respectively.

Annual General Meeting 2007
The Annual General Meeting of shareholders on March 21, 2007 decided to pay a
dividend of EUR 0.60 per share for Series A shares, totaling EUR 32,890,188, and
EUR 0.58 per share for K shares, totaling EUR 13,087,867, the sum total for both
series of shares being EUR 45,978,055.

It was decided that the number of Board members be nine. Mr. Kaj-Gustaf Bergh,
Mr. Alexander Ehrnrooth, Mr. Paul Ehrnrooth, Mr. Ralf Böer, Mr. David Drury, Ms.
Ilona Ervasti-Vaintola, Mr. Gustaf Gripenberg, Mr. Karl Grotenfelt, and Mr. Clas
Thelin were elected to the Board. The term of the Board members will expire at
the end of the Annual General Meeting in 2008.

KPMG Oy Ab was elected auditor.

The Annual General Meeting decided to authorize the Board to repurchase, of the
company's own shares, no more than 5,366,937 of Series A and no more than
2,256,150 of Series K shares in a proportion other than that of the
shareholders' proportional shareholdings. The share price will be no higher than
the highest price paid for Fiskars Corporation shares in public trading at the
time of repurchase. This authorization shall remain in force until the end of
the next Annual General Meeting.

The Annual General Meeting authorized the Board to decide on the distribution of
the company's repurchased shares up to a maximum of 5,494,449 Series A shares
and up to a maximum of 2,256,570 Series K shares. The Board may decide on the
distribution of the shares otherwise than in proportion to the shareholders'
existing pre-emptive subscription rights. This authorization shall remain in
force until the end of the next Annual General Meeting.

Constitutive meeting of the Board of Directors
Convening after the Annual General Meeting, the Board elected Kaj-Gustaf Bergh
its chairman and Alexander Ehrnrooth and Paul Ehrnrooth vice chairmen. The Board
decided to establish an Audit Committee, a Compensation Committee, and a
Nomination Committee.
The Board appointed Gustaf Gripenberg chairman of the Audit Committee, with
David Drury, Ilona Ervasti-Vaintola, Alexander Ehrnrooth, and Paul Ehrnrooth as
its other members.
The Board appointed Kaj-Gustaf Bergh chairman of the Compensation Committee with
Ralf Böer, Karl Grotenfelt, and Clas Thelin as its other members. The Board
appointed Kaj-Gustaf Bergh chairman of the Nomination Committee, with Alexander
Ehrnrooth and Paul Ehrnrooth as its other members.

THE BOARD OF DIRECTORS' PROPOSAL FOR THE ANNUAL GENERAL MEETING

The distributable equity of the Parent Company at the end of the fiscal year
2007 is EUR 894,8 million (287,9).

For 2007 the Board of Directors proposes a dividend of  EUR 0,80 per share of
Series A and EUR 0,78 per share of Series K. The dividend entitling shares
numbered 54 832 377  Series A shares and 22 565 288 series K shares, totaling 77
397 665 shares. Thus the dividend distribution would be:

                      number of shares / EUR per share / total
Shares of Series A,         54 832 377   0,80            42 769 254,06
Shares of Series K,         22 565 288   0,78            18 052 230,40
Dividend distribution in total                           60 821 484,46

This leaves EUR 866 965 449,47 of unused profit funds at the Parent Company.

No material changes have taken place in the financial position of the Company
after the end of the fiscal year. The financial standing of the Company is good
and according to the Board of Directors assessment the proposed dividend
distribution does not compromise the Company's solvency.


OUTLOOK  2008

The general market outlook for 2008 is uncertain. Especially, the US market is
expected to be weaker than in 2007. In Europe the economic climate is cautious.

Fiskars Corporations net sales are expected to increase during 2008 largely due
to the effect of the Iittala acquisition that closed in the Fall of 2007.
The underlying profitability of our wholly-owned business is expected to
continue to improve
but the net profit is not expected to be on the same level as the previous year
due to the following reasons; 2007 results included a non-recurring capital gain
of  EUR 23.7 million as the company acquired Wärtsilä A shares and
simultaneously sold an equal amount of  Wärtsilä B shares.In addition, the Real
Estate business realized a gain of EUR 9.8 million due to the price increases of
standing timber.

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

The associated company Wärtsilä will have a big impact on the Corporation's
profit and cash flow.

Fiskars financial statement bulletin 2007

This interim report has been prepared in accordance with IAS 34 Interim
Financial Reporting. Using the same accounting principles and methods of
computation as for the annual financial statements for 2006 with the exception
of hedge accounting being applied on foreign currency net investments in
subsidiaries and changes in the market price for electricity.

Use of estimates
Complying with the IFRS standards in preparing financial statements requires the
management to make estimates and assumptions. Such estimates affect the reported
amounts of assets and liabilities, the disclosure of contingent assets and
liabilities, and the amounts of revenues and expenses. Although these estimates
are based on the management's
best knowledge of current events and actions, actual results may differ from
these estimates.
As of January 1, 2007, Fiskars has applied the following new or amended IFRS
standars:
IFRS 7 Financial Instruments: Disclosures.
Amendment to the IAS 1 standard: Presentation of Financial Statements - Capital
Disclosures
IFRIC 9 Reassessment of Embedded Derivatives.
IFRIC 10 Interim Financial Reporting and Impairment.
The adoption of new and revised standards and interpretations does not have any
material effect on the financial statements.

Annual General Meeting
The Fiskars Corporation Annual General Meeting 2008 will be held at The Helsinki
Fair Centre on Tuesday March 25, at 3.00 p.m.

Kari Kauniskangas
President and CEO


CONSOLIDATED INCOME STATEMENT   10-12  10-12    chg   1-12   1-12    chg
                                  2007   2006     %    2007   2006     %
                                 MEUR   MEUR          MEUR   MEUR

NET SALES                        191.8  125.1     53  658.1  534.9     23

Cost of goods sold              -127.9  -87.7     46 -437.8 -376.8     16
GROSS PROFIT                      63.9   37.4     71  220.3  158.1     39

Other operating income             2.3   -0.8    374    5.8    1.3    358
Sales and marketing expenses     -35.4  -19.0     86  -99.4  -71.9     38
Administration expenses          -10.8  -11.3     -4  -48.8  -45.3      8
Research and development costs    -2.4   -1.8     38   -7.4   -6.1     21
Other operating expenses          -3.5   -2.3     47   -4.2   -9.0    -53
Income from associate             16.7   17.7     -6   43.3   58.6    -26
OPERATING PROFIT                  30.7   20.0     54  109.5   85.8     28

Gain on sale of Wärtsilä shares    6.9                 23.7
Financial income                   0.3    1.1    -74    3.0    1.8     66
Financial expenses                -3.8   -2.6     50  -13.7  -10.9     26
PROFIT BEFORE TAXES               34.1   18.5     84  122.5   76.7     60

Income taxes                      -1.8   -9.3    -81  -12.1   -9.8     23
PROFIT FROM CONTINUING OPERATIO   32.3    9.2    250  110.4   66.9     65

Profit from discontinued oper.            0.3                 15.2
PROFIT (LOSS) FOR THE PERIOD      32.3    9.5    239  110.4   82.0     35

Attributable to:
Equity holders of the Parent Co   31.9    9.5    236  110.0   82.0     34
Minority interest                 -0.3    0.0          -0.3    0.0
                                  32.3    9.5         110.4   82.0

Earnings for Equity holders of the Parent Company
per share, euro                   0.41   0.12          1.42   1.06
  continuing operations           0.41   0.12          1.42   0.86
  discontinued operations                0.00                 0.20

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

CURRENCY RATES                          1-12   1-12    chg
                                         2007   2006     %
USD average rate (I/S)                   1.37   1.26     16
USD end-of-period (B/S)                  1.47   1.32     12


CONSOLIDATED BALANCE SHEET              12/07  12/06   chg
                                        MEUR   MEUR      %
ASSETS

NON-CURRENT ASSETS
Intangible assets                       134.0   19.2    598
Goodwill                                 99.8   22.4    346
Tangible assets                         121.7   98.7     23
Biological assets                        44.9   35.0     28
Investment property                       8.4    8.7     -3
Investment in associate                 278.3  239.1     16
Other shares                              3.0    5.0    -41
Other investments                         2.3    1.5     53
Other long-term tax receivables           0.3    5.5    -95
Deferred tax assets                      20.6   24.9    -17
NON-CURRENT ASSETS TOTAL                713.4  460.0     55

CURRENT ASSETS TOTAL
Inventories                             173.7  114.6     52
Trade receivables                       115.2   82.7     39
Other receivables                        10.4    5.0    107
Cash and cash equivalents                34.5   44.9    -23
CURRENT ASSETS TOTAL                    333.8  247.2     35

ASSETS TOTAL                           1047.1  707.2     48

SHAREHOLDERS' EQUITY AND LIABILITIES

SHAREHOLDERS' EQUITY                    478.3  421.8     13

NON-CURRENT LIABILITIES
Interest bearing debt                   124.6  120.7      3
Non-interest bearing debt                 4.7    2.6     82
Deferred tax liabilities                 51.7   20.8    149
Pension liability                         9.4   12.8    -27
Provisions                                6.2    4.2     47
NON-CURRENT LIABILITIES TOTAL           196.7  161.1     22

CURRENT LIABILITIES
Interest bearing debt                   228.9   26.1    776
Trade payable and
other non-interest bearing debt         139.4   92.6     51
Income tax payable                        3.8    5.7    -33
CURRENT LIABILITIES TOTAL               372.1  124.4    199

SHAREHOLDERS' EQUITY AND LIABILITIES T 1047.1  707.2     48


CONSOLIDATED STATEMENT                         1-12   1-12
OF CASH FLOWS                                   2007   2006
                                               MEUR   MEUR
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before taxes                        122.5   76.7
Adjustments for
  Depreciation                                  23.2   28.6
  Gain/loss on sale of non-current assets      -26.1    0.0
  Income from associate                        -43.3  -58.6
  Investment income                             -3.0   -0.8
  Interest expense                              13.7    9.9
  Chg in value of biological assets            -10.0   -5.0
Cash generated before working capital changes   77.0   50.8

Change in working capital
  Change in interest free assets                -9.7   -5.4
  Change in inventories                         -1.5    7.6
  Change in interest free liabilities           11.4    7.6
Cash generated before financing and taxes       77.2   60.6

Dividends from associate                        27.7   47.5
Dividends received, other                        0.1    3.6
Financial costs paid (net)                     -11.8   -7.4
Taxes paid                                     -11.2   -5.1
NET CASH FROM OPERATING ACTIVITIES A            82.0   99.0

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisitions                                  -169.2  -26.0
Net change in shares in associate               -0.1
Capital expenditure                            -20.5  -19.3
Proceeds from sale of fixed assets               2.4    5.4
Sale of other investments                        4.1    2.2
Capital expenditure in other investments         0.0   -5.3
Cash flow from discontinued operations                 33.0
NET CASH USED IN INVESTING ACTIVITIES B       -183.4  -10.1

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from l/t borrowings                     0.6   15.0
Repayment of l/t borrowings                     -0.1   -4.6
Proceeds from (payment) of) s/t borrowings     137.6  -21.4
Payment of financial leases liabilities         -1.8   -2.8
Cash flows from other financing items            0.9    0.1
Dividends paid                                 -46.0  -57.1
NET CASH USED IN FINANCING ACTIVITIES C         91.3  -70.8

CHANGE IN CASH (A+B+C)                         -10.2   18.2

Cash at beginning of period                     44.9   21.7
Translation difference                          -0.3    5.0
Cash at end of period                           34.5   44.9


STATEMENT OF CHANGES IN        Equity holders of the parent companMinorit Total
SHAREHOLDERS' EQUITY                          Other Cumul.        interest
                                Share    Own reser- transl.Retain.
                               capitalshares    ves  diff.  earn.
                                 MEUR   MEUR   MEUR   MEUR   MEUR   MEUR   MEUR
Dec 31, 2005                      77.5   -0.9   24.7    1.2  300.3    0.0  402.7
Translation differences                                -2.0                 -2.0
Change in fair value reserve, associate         -3.1                        -3.1
Other changes in associate                             -0.7   -0.1          -0.8
NET INCOME RECOGNISED DIRECTLY IN EQUITY        -3.1   -2.7   -0.1    0.0   -5.9
Net profit for the period                                     82.0    0.0   82.0
TOTAL RECOGNISED INCOME AND
EXPENSE FOR THE PERIOD                          -3.1   -2.7   81.9    0.0   76.2
Dividend distribution                                        -57.1         -57.1
Dec 31, 2006                      77.5   -0.9   21.6   -1.5  325.0    0.0  421.8
Translation differences                               -10.4                -10.4
Change in fair value reserve, associate         -0.2                        -0.2
Equity net investment hedges after tax           2.5                         2.5
Other changes                                                         0.1    0.1
NET INCOME RECOGNISED DIRECTLY IN EQUITY         2.4  -10.4    0.0    0.1   -7.9
Net profit for the period                                    110.0    0.3  110.4
TOTAL RECOGNISED INCOME AND
EXPENSE FOR THE PERIOD                           2.4  -10.4  110.0    0.5  102.5
Dividend distribution                                        -46.0         -46.0
Dec 31, 2007                      77.5   -0.9   23.9  -11.8  389.1    0.5  478.3


KEY FIGURES                      12/07  12/06   chg
                                                  %
Equity/share, euro                6.18   5.45     13
Equity ratio                       46%    60%
Net gearing                        67%    24%
Equity, meur                     478.3  421.8     13
Net interest bear.debt, meur     319.0  101.9    213
Average number of employees       3324   3167      5
Number of employees eop           4515   3003     50


SEGMENT INFORMATION             10-12  10-12    chg   1-12   1-12    chg
NET SALES                         2007   2006     %    2007   2006     %
                                 MEUR   MEUR          MEUR   MEUR
Fiskars Brands                   111.6  113.0     -1  515.7  489.9      5
Iittala                           71.4                 87.3
Inha Works                         8.7    9.1     -4   42.1   37.2     13
Real Estate                        1.0    3.6    -71   15.6   10.3     52
Unallocated and eliminations      -0.9   -0.6     60   -2.6   -2.4      8
CORPORATE TOTAL                  191.8  125.1     53  658.1  534.9     23

Export from Finland               25.8   15.7     64   78.6   58.9     33


SEGMENT INFORMATION             10-12  10-12          1-12   1-12
OPERATING PROFIT                  2007   2006          2007   2006
                                 MEUR   MEUR          MEUR   MEUR
Fiskars Brands                    10.4    0.0          52.2   21.1
Iittala                            8.5                  8.8
Inha Works                        -0.1    0.8           3.3    3.7
Real Estate                       -0.1    2.4          11.3    7.6
Associate Wärtsilä                16.7   17.7          43.3   58.6
Unallocated and eliminations      -4.7   -1.0          -9.4   -5.2
CORPORATE TOTAL                   30.7   20.0         109.5   85.8


SEGMENT INFORMATION             10-12  10-12          1-12   1-12
DEPRECIATIONS                     2007   2006          2007   2006
                                 MEUR   MEUR          MEUR   MEUR
Fiskars Brands                     4.3    9.2          17.5   25.8
Iittala                            1.9                  2.5
Inha Works                         0.2    0.3           1.2    1.2
Real Estate                        0.4    0.5           1.5    1.4
Unallocated and eliminations       0.2    0.0           0.4    0.1
CORPORATE TOTAL                    7.0   10.0          23.2   28.6


SEGMENT INFORMATION             10-12  10-12          1-12   1-12
CAPITAL EXPENDITURE               2007   2006          2007   2006
                                 MEUR   MEUR          MEUR   MEUR
Fiskars Brands                     4.6    5.1          26.6   37.5
Iittala *)                         2.1                158.2
Inha Works                         0.9    0.6           3.6    1.2
Real Estate                        0.5    0.4           1.8    1.9
Associate Wärtsilä                 8.3                 28.9
Unallocated and eliminations       0.4    0.3           1.6    0.3
CORPORATE TOTAL                   16.7    6.3         220.6   40.8
*) The Group's investment in the segment is included here


GEOGRAPHICAL SEGMENT            10-12  10-12    chg   1-12   1-12    chg
NET SALES BASED ON CUSTOMER       2007   2006     %    2007   2006     %
LOCATION                         MEUR   MEUR          MEUR   MEUR
Europe                           133.0   64.6    106  390.8  257.1     52
USA                               42.4   49.8    -15  221.1  235.2     -6
Rest of the world                 16.4   10.7     54   46.3   42.6      9
CORPORATE TOTAL                  191.8  125.1     53  658.1  534.9     23

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.


IMPACT OF ACQUISITIONS ON THE CONSOLIDATED BALANCE SHEET
MEUR

Fiskars acquired Iittala Group Plc. on August 31.2007. Iittala designs,
produces and sells homeware, its home markets are Finland, Sweden and
Norway and in addition Iittala has sales companies in United States,
Denmark, Estonia, The Netherlands, Germany and Poland.
Iittala's net sales in 2006 were EUR 189.8 million, operating profit was
EUR 17.0 million and net profit was EUR 7.4 million.
Total assets were EUR 160.5 million and personnel 1 353 at the end of 2006.
Iittala forms a new segment within Fiskars and the consolidated
net sales for the review period was EUR 87.3 million and the operating
profit before eliminations from purchase price allocation was EUR 13.1
million. Iittala and Fiskars have not had any business relations
before the acquisition. The total purchase price including
refinanced debt was EUR 230.1 million.
Purchase price paid in cash has been allocated to assets, liabilities and
contingent, liabilities at their fair value.
Valuation of trademarks is based on the "relief from royalty"
method considering their qualities and significance. Intangible assets comprise
of trademarks, customer relationships and franchising agreements.
Trademarks are not amortized as no economic lifetime can be established.
Customer relationships and franchising business related assets are amortized
during their esimated lifetime of 15 and 10 years respectively.
The part of the purchase price that was allocated to inventory (finished goods)
was fully realized during 2007.
The goodwill from the acquisition relates mostly to the synergies
that will be gained from integrating the businesses.

IITTALA ACQUISITION COST, PRELIMINARY SPECIFICATION
Purchase price paid in cash                                         116.1
Acquisition related costs                                             1.7
Capital loans from previous owners included in the transaction       44.7
Fair value of acquired assets                                       -90.2
Minority share                                                        0.1
GOODWILL                                                             72.5

Acquired cash and cash equivalents                                   -6.3
CASH IMPACT OF THE ACQUISITION                                      156.1

                                                           sellers
                                                             book   fair
ACQUIRED ASSETS, LIABILITIES AND CONTINGENT LIABILITIES    values values
Non-current assets: tangible assets                           26.0   26.0
Other non-current assets: intangibles and investments          3.8  118.9
Inventories                                                   56.7   60.6
Receivables                                                   19.6   19.6
Cash and cash equivalents                                      6.3    6.3
Deferred tax liability                                        -1.2  -32.1
Capital loans                                                -44.7    0.0
Non-current liabilities                                       -8.9   -8.9
Current liabilities                                         -100.3 -100.3
TOTAL                                                        -42.6   90.2


IMPACT OF ACQUISITIONS ON THE CONSOLIDATED BALANCE SHEET
MEUR

Fiskars acquired the French company Leborgne S.A. in May 2007.
The company produces garden tools in France and in addition to the French
market sells them in Spain, Belgium and Italy.
The net sales for Leborgne in 2006 was EUR 16 million.
The consolidated net sales in 2007 were EUR 10,5 million.
Leborgne is included in the business segment Fiskars Brands.
The purchase price paid in cash has been allocated to assets, liabilities
and contingent liabilities at fair value.
The purchase price has been allocated to trademark Leborgne,
customer relationships and inventory.
The remaining goodwill relates to synergies within the garden
business in Europe and the acquired product program.

LEBORGNE ACQUISITION COST, PRELIMINARY SPECIFICATION
Purchase price paid in cash                                          12.8
Acquisition related costs                                             0.4
Fair value of acquired assets, liabilities and contingent liabilit   -6.5
GOODWILL                                                              6.7

Acquired cash and cash equivalents                                   -0.1
CASH IMPACT OF THE ACQUISITION                                       13.1

                                                           sellers
                                                             book   fair
ACQUIRED ASSETS, LIABILITIES AND CONTINGENT LIABILITIES    values values
Non-current assets                                             0.9    3.2
Inventories                                                    3.2    3.3
Receivables                                                    6.1    6.1
Cash and cash equivalents                                      0.1    0.1
Deferred tax liability                                         0.0   -0.8
Non-current liabilities                                       -0.9   -0.9
Current liabilities                                           -4.5   -4.5
TOTAL                                                          4.9    6.5

If the acquired businesses had been consolidated from the beginning of the year
the proforma consolidated net sales and operating profit for Fiskars
would have been EUR 780 million and EUR 115 million respectively.


CONTINGENCIES AND PLEDGED ASSETS        12/07  12/06
                                        MEUR   MEUR
AS SECURITY FOR OWN COMMITMENTS
Discounted bills of exchange                       0
Guarantees                                  1
Lease commitments                          53     19
Other contingencies                         7      9
TOTAL                                      62     28

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

AS SECURITY FOR SUBSIDIARIES'
COMMITMENTS
Guarantees                                 13     12

TOTAL PLEDGED ASSETS AND CONTINGENCIES     76     42
Iittala Group has long-term lease commitments for several facilities
in Finland and abroad.


NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                186     94
Interest rate swaps                        16
Forward interest rate agreements           60
Electricity forward agreements              1

MARKET VALUE VS. NOMINAL AMOUNTS
OF DERIVATIVES

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

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


RELATED PARTY TRANSACTIONS

Fiskars Corporation has in total booked legal fee invoices from Foley & Lardner
for which Ralf Böer is an associate, for EUR 1.6 million