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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 Corp.     Financial Statement Release February 11, 2010, at 8.30 a.m.

STRONG CASH FLOW, COMPARABLE EBIT AT PREVIOUS YEAR'S LEVEL

Year 2009 in brief:
- Net sales decreased 5% and were EUR 662.9 million (697.0)
- Operating profit (EBIT) grew to EUR 39.5 million (6.0)
- Operating profit excluding non-recurring items was EUR 40.0 million (40.9)
- Cash flow from operating activities was EUR 121.0 million (97.0)
- Earnings per share were EUR 1.05 (0.64)
- The Board proposes a dividend of EUR 0.52 per share

Fourth quarter 2009 in brief:
- Net sales decreased 1% and were EUR 173.6 million (174,9)
- Operating profit (EBIT) was EUR 9.5 million (-23.5)
- Operating profit excluding non-recurring items was EUR 9.5 million (8.3)

Fiskars' President & CEO, Kari Kauniskangas:
"Overall, Fiskars succeeded well in 2009. Despite a challenging market
situation, we improved our position in several markets and strengthened our
key brands. The streamlining of our organization reduced our fixed costs, and
our relative profitability remained at 2008 levels.

One of our successes was the strong level of cash flow from operating
activities, thanks to lower costs and a significant reduction in inventory
levels.

The outlook for 2010 is uncertain. Unemployment remains high in Fiskars' main
market areas and this could have an impact on purchasing power and thus the
development of our net sales. We remain committed, all the same, to investing
in our brands and product development and to improving our profitability."


The full-year figures stated in this release are audited.

GROUP KEY FIGURES

EUR million                           Q4      Q4   Q1-Q4   Q1-Q4
                                    2009    2008    2009    2008

Net sales                          173.6   174.9   662.9   697.0
Change in net sales, %               -1%             -5%
Operating profit (EBIT)              9.5   -23.5    39.5     6.0
Share of profit from
associate                           19.8    24.6    66.5    70.5
Change in the fair value
of biological assets                -0.1    -3.1    -0.4    -5.6
Profit before taxes                 28.2    -8.2    91.4    51.5
Profit for the period               26.0    -6.5    83.5    49.2
Earnings per share*, EUR            0.32   -0.08    1.05    0.64
Equity per share*, EUR                              6.16    5.77
Cash flow from
operating activities**              43.0    17.2   121.0    97.0
Equity ratio, %                                      52%     46%
Net gearing, %                                       47%     69%

* Calculated using the weighted average number of shares in the reporting
period; with the effect of the combination of the share series on July 30, 2009
** Incl. Wärtsilä dividend of EUR 25.3 m in 2009 (2008: 67.2m)

Further information:
- President and CEO Kari Kauniskangas, tel- +358 9 6188 6222
- CFO Teemu Kangas-Kärki, tel.+358 9 6188 6231

Fiskars has today published its Corporate Governance Statement for 2009, which
is appended to this release. The statement can also be read on the company's
website at www.fiskarsgroup.com.


FOURTH QUARTER 2009

The Group's financial performance

Fiskars' net sales in October-December 2009 decreased by 1% to EUR 173.6
million (Q4 2008: EUR 174.9 million). At comparable currency rates, the
Group's sales increased by 3%. Cash flow from operating activities was EUR
43.0 million (17.2).

The Group's operating profit increased to EUR 9.5 million (-23.5). The profit
does not include non-recurring items whereas in the comparison period non-
recurring costs related to restructuring amounted to EUR 31.8 million.

Income from associate Wärtsilä was EUR 19.8 million (24.6) for the quarter,
and the change in the fair value of standing timber (i.e. biological assets)
EUR -0.1 million (-3.1).

Capital expenditure during the quarter was EUR 3.5 million (6.5). The majority
of them were investments for production and product development.

Net financial costs were EUR -1.0 million (-6.1). Profit before taxes was
EUR 28.2 million (-8.2). The profit for the quarter was EUR 26.0 million
(-6.5), and earnings per share were EUR 0.32 (-0.08).


Segment performance

Net sales in EMEA (Europe, Middle East, and Asia-Pacific) rose 2% in the
fourth quarter, to EUR 126.4 million (124.4). Net sales of homeware products
in the Home business area increased as a result of a successful Christmas
season, while those of craft products remained at 2008 levels. Net sales in
the Garden business area grew, with snow tools generating good sales as a
result of the snowy winter in particular. Net sales in the Outdoor business
area continued to decrease, however.

Net sales in the Americas declined 7% to EUR 49.9 million (53.7 million). This
reflected exchange rate developments, however, as in USD-terms net sales rose
4%, to USD 73.9 million (70.7 million). At comparable currency rates, net
sales in the Garden business area moved up compared to 2008, while Homes
school, office, and craft (SOC) product sales continued to decline. Net sales
at Outdoor rose significantly, partly as a result of sales transferred from
the previous quarter.

Operating profit in EMEA was up compared to 2008, at EUR 10.5 million (1.0
million, including -7.4 million in non-recurring items). This improvement was
driven by better sales margins due to higher sales volumes and more efficient
operations, as well as reduced fixed costs. Marketing expenditure,
particularly in the garden business in Europe, together with product
development and production costs in the boat business, had a negative impact
on the profit.

Operating profit in the Americas totaled EUR 2.3 million (-18.0 million,
including -19.4 million in non-recurring items). Higher sales volumes and
lower logistics expenses made a positive contribution. Marketing expenditure
also increased in the US, as a result of an extensive revamp of the product
packaging.

Net sales in the Other segment rose 27% to EUR 1.6 million (1.2 million), and
the segment's EBIT came in at EUR -3.1 million (-6.6 million, including -5.0
in non-recurring items).


Operating highlights

Fiskars sold its Brunton camping brand and its business in December 2009, and
American Outdoor business will focus on the Gerber brand in the future. The
divestment did not have a substantive impact on net sales or operating profit
for the quarter. Brunton recorded net sales of EUR 8.8 million (USD 12.2
million) in 2009.

Iittala Group Oy Ab, a subsidiary of Fiskars in the Home business area,
simplified its organization in the fourth quarter. Codetermination
negotiations held with personnel resulted in 18 people being made redundant
and 11 other contracts being terminated.


REPORT BY THE BOARD OF DIRECTORS 2009

2009 in brief

The challenging market situation and cautious purchasing by retailers and
consumers lead to lower net sales of EUR 662.9 million in 2009 (2008: EUR
697.0 million)

Operating profit totaled EUR 39.5 million (6.0 million), and EUR 40.0 (40.9
million) excluding non-recurring items. Improvements in the company's cost
structure resulted in better relative profitability in the Americas. Lower raw
materials costs also contributed to improved performance.

Cash flow from operations improved to EUR 121.0 million (97.0), despite a drop
in dividend revenue from Fiskars' holding in Wärtsilä Corporation to EUR 25.3
million (67.2 million).

The company's series A and K shares were combined in July 2009 in accordance
with a decision taken by an Extraordinary General Meeting. Earnings per share
for the year were EUR 1.05 (0.64).

The Group employed 3,623 people as of the end of the year (4,119).


The Group's financial performance

Fiskars' net sales decreased by 5% to EUR 662.9 million (697.0) in 2009. At
comparable currency rates, the sales decreased by 4%. The operating profit
increased to EUR 39.5 million (6.0), and includes EUR 0.5 million of non-
recurring costs (34.9). Operating profit excluding non-recurring items was EUR
40.0 million (40.9) or 6% of net sales (6%).

Fiskars' reporting structure was changed as of January 1, 2009. Its share of
the profit of associated company Wärtsilä and the change in the fair value of
its biological assets (i.e. standing timber) are presented as separate lines
below EBIT in the income statement. The share of profit from associate was EUR
66.5 million (70.5), and the change in the fair value of standing timber was
EUR -0.4 million (-5.6).

Net financial costs were EUR -14.2 million (-19.4). Profit before taxes was
EUR 91.4 million (51.5). The income taxes for the year totaled EUR -7.9
million (-2.3).

The profit for the period increased to EUR 83.5 million (49.2), and earnings
per share were EUR 1.05 (0.64).


Organizational structure

Fiskars' operating segments are EMEA (Europe, Middle East, and Asia-Pacific),
Americas, Wärtsilä (associated company), and Other. The Inha Works business,
which mainly consists of boat production, has been moved from Other to EMEA as
of January 1, 2009.

The business areas as of the beginning of 2009 are Home, Garden, Outdoor, and
Other. The Home business area includes Homeware as well as School, Office, and
Craft (SOC). Boats are included in the Outdoor business area. Other covers
Real Estate and corporate headquarter functions.


Key operating segments

EUR million                           Q4      Q4  Change   Q1-Q4   Q1-Q4  Change
                                    2009    2008       %    2009    2008       %

EMEA, net sales                    126.4   124.4      2%   454.2   491.3     -8%
EMEA, operating profit              10.5     1.0            26.7    21.7*
Americas, net sales                 49.9    53.7     -7%   218.2   216.5      1%
Americas, operating profit           2.3   -18.0            23.9    -4.0**

*) Includes non-recurring costs of EUR 9.3 million.
**) Includes non-recurring costs of EUR 19.5 million.
In addition, Other includes EUR 6.1 million non-recurring costs in 2008.


Key business areas

EUR million                           Q4      Q4  Change   Q1-Q4   Q1-Q4  Change
                                    2009    2008       %    2009    2008       %

Home, net sales                     93.9    94.3      0%   299.9   316.8     -5%
Garden, net sales                   40.0    38.3      5%   230.9   231.2      0%
Outdoor, net sales                  38.7    41.2     -6%   128.4   145.2    -12%


EMEA

Net sales in the EMEA segment fell 8% to EUR 454.2 million (491.3). Using
comparable exchange rates, the decline was 5%. Operating profit totaled EUR
26.7 million (21.7, including -9.3 million in non-recurring items). Personnel
as of the end of the year totaled 2,899 (3,276).

The market situation remained challenging throughout the year. Consumer demand
and retailer purchasing failed to return to pre-recessions levels. The weaker
performance of currencies such as the British pound and the Swedish krona
compared to the euro also contributed to lower net sales.

Net sales in the Home business area fell slightly. Sales in the business'
largest markets in Finland and Sweden as well as in Norway continued to
develop well, particularly with respect to the Arabia and Iittala brands.
Weaker exchange rates and sales in other markets, however, had a negative
impact on net sales. More efficient production and procurement improved the
operating profit in the EMEA segment. Sales of craft products were lower, but
this was compensated for by lower costs.

In the Garden business area, sales of Fiskars-brand garden tools grew
significantly, particularly in Germany. Low levels of sales in construction
tools and forged products, together with weaker exchange rates, kept net sales
lower than in 2008. The improved profitability of the product range, resulting
from factors such as lower raw material costs and more efficient production,
together with other cost savings, contributed positively to the segment's
operating profit, although marketing expenditure increased.

Net sales in the Outdoor business area fell in a challenging market situation.
Net sales of outdoor gear in France and Sweden in particular were lower, as a
result of the weaker Swedish krona and lower sales of corporate gifts and
everyday exercise products. 2009 was a difficult year on the boat market, and
the Group's boat-related net sales were significantly down. Lower sales
volumes, together with development costs related to new boat models, had a
negative effect on the operating profit of the EMEA segment.


Americas

Net sales in the Americas segment rose by 1% to EUR 218.2 million (216.5).
In USD terms, net sales fell by 4%, however, to USD 302.5 million (319.1).
Operating profit totaled EUR 23.9 million (-4.0, including -19.5 million
in non-recurring items). Personnel as of the end of year totaled 667 (792).

The recession in the US economy impacted purchases made by retailers, but also
reduced the prices of raw materials, particularly plastics, during 2009.
Operating profit in the Americas improved strongly, driven by lower fixed
costs, in particular.

Net sales in the Garden business area remained at 2008 levels. Although some
retailers continued to reduce their inventories during the year, these lost
sales were replaced by sales of new garden products launched during 2009.

Net sales of school, office, and craft (SOC) products in the Home business
fell significantly, partly as a result of the divestment of consumables
product lines and brands in craft business in July 2009. Lower sales were
compensated for by lower fixed costs.

Net sales in the Outdoor business area rose in 2009, driven in particular by
institutional sales, which developed well. Higher sales volumes contributed
positively to the operating profit of the Americas segment. The Brunton brand
and its business were sold in December 2009, which will impact net sales in
2010.


Other

Fiskars' Other segment comprises Real Estate, which is responsible for
managing the Group's forests and other land and for the internal and external
leasing of Fiskars' property in Finland, and the corporate headquarter
functions.

The segment recorded net sales of EUR 6.1 million (5.9 million), of which the
majority comprised revenue from timber sales and rental income from
properties. The segment's operating profit,including EUR -0.5 million non-
recurring items, was EUR -11.1 million (-11.7, including -6.1 million in non-
recurring items). The change in the value of standing timber, reported below
EBIT, was EUR -0.4 million (-5.6). Personnel as of the end of year totaled 57
(51).


Wärtsilä

Wärtsilä Corporation, a leading provider of marine and power solutions, is
included in Fiskars' consolidated financial statements as an associated
company. Fiskars owns in total 17.1% of the shares and votes of Wärtsilä.

Fiskars' share of Wärtsilä's profit totaled EUR 66.5 million (70.5) in 2009.

The Annual General Meeting of Wärtsilä was held on March 11, 2009. The
Chairman of the Board of Fiskars, Mr. Kaj-Gustaf Bergh, and the President and
CEO of Fiskars, Mr. Kari Kauniskangas, were re-elected to Wärtsilä's Board of
Directors. The Meeting decided to pay a dividend of EUR 1.50 per share (4.25).
Fiskars received a total of EUR 25.3 million (67.2) in dividends.

The market value of Fiskars' Wärtsilä shares was EUR 472.9 million (353.9) or
EUR 5.76 (4.57) per Fiskars' share at the end of the year, with a closing
price EUR 28.07 (21.01) per Wärtsilä share. The book value of the shares was
EUR 316.8 million (263.5).


Financing

Fiskars' cash flow from operations totaled EUR 121.0 million (97.0 million) in
2009, an improvement that was largely driven by significantly lower inventory
levels. The cash flow includes dividends paid by associated company Wärtsilä
totaling EUR 25.3 million (67.2 million).

Cash flow from investing activities was EUR -8.7 million (-25.8) and cash flow
after investing activities was EUR 112.2 million (71.2) in the year.

Net working capital was EUR 102.6 million (EUR 149.4) at the end of the year.
The equity ratio was 52% (46%) and net gearing 47% (69%).

Cash and deposits at the end of the period were EUR 38.6 million (11.3).
Fiskars hedges exchange rate risks associated with future cash flow using
currency derivatives. The value of these derivatives increased financing
expenses in 2009 by EUR 4.5 million (2008: decreased expenses by 3.7 million),
as the company does not apply hedge accounting as defined under IAS 39 to its
derivatives.

Net interest-bearing debt amounted to EUR 235.7 million (309.9). Short-term
borrowings totaled EUR 199.7 million (183.7) and long-term borrowings EUR 74.9
million (137.5). Short-term borrowings are mainly commercial papers issued by
Fiskars Corporation. In addition, Fiskars had EUR 425.0 million (405.0) in
unused, binding long-term credit facilities, mainly with major Nordic banks.


Investments and product development

Investments during the 2009 financial year totaled EUR 14.6 million (29.8
million). The EMEA segment accounted for 10.7 million (23.7 million) of the
total, the Americas EUR 2.8 million (3.0 million), and Other 1.1 million (3.1
million).

Investments were largely related to production and product development. The
Home business area also invested in revamping retail stores and in its
customer loyalty system. Investments at Real Estate were largely concentrated
in building repair and renovation projects.

The Group's product development expenditure totaled EUR 8.9 million (8.4
million), equivalent to 1% (1%) of net sales. Major R&D projects in 2009
covered, for example, a rainwater collector product range, a new ax concept,
and new boat models.


Personnel

The Group employed an average of 3,867 people (4,325) in 2009. The number of
personnel was 3,623 (4,119) as of the end of the year, of which 2,899 (3,276)
were employed in the EMEA region, 667 (792) in the Americas, and 57 (51) by
segment Other. Fiskars employed 1,512 (1,722) people in Finland.

The reduction of personnel in EMEA was largely the result of reorganizations
of production plant operations. The merger of the Garden and SOC units,
together with the sale of the Brunton business, reduced personnel levels in
the Americas.

The wages and salaries for the year totaled EUR 113.4 million (126.4).


Changes in management

Juha Lehtola, M.Sc. (Econ), was appointed President of the Boats business and
Managing Director of Inha Works Ltd. in March 2009. Jaakko Autere, M.Sc.
(Econ), was appointed President of Fiskars' Home business area and CEO of
Iittala Group Oy Ab in August 2009 and took over his duties in January 2010.
Both Lehtola and Autere report to Fiskars' President & CEO, Kari Kauniskangas.


Corporate Governance

Fiskars complies with the Finnish Corporate Governance Code issued by the
Securities Market Association, which came into force on January 1, 2009.
Fiskars' Corporate Governance Statement for 2009 in accordance with
Recommendation 51 of the Code was issued on February 11, 2010 as a separate
report.

Fiskars also complies with the insider regulations of NASDAQ OMX Helsinki
latest updated on October 9, 2009, and the company's internal insider
guidelines latest updated on November 3, 2009.


Risks and business uncertainties

Fiskars' business, net sales and financial performance may be affected by
several uncertainties. The principal uncertainties are related to:
- General market conditions and a potential decline in consumer demand in
  Fiskars' significant market areas in Europe and North America
- Loss of or reduced sales of major retail customers, retailers' financial
  difficulties, and disruptions in the activities of a distribution channel
- Availability of products due to supply chain issues
- Unexpected weather conditions in the Garden business area and seasonal
  variations, especially in the Home business area which is heavily geared
  towards the end of the year
- Sudden fluctuations in raw material and energy prices; the most important raw
  materials being steel, aluminum, and plastic
- Major changes in profitability or ability to pay dividends of the associated
  company Wärtsilä.


Environment

In line with its Code of Conduct, Fiskars aims to ensure that its products,
services, and production promote sustainable development. The company does not
monitor environmental costs separately, as they are an integral part of its
normal business operations and business development. No major environmental
investments were made in 2009.

Most of Fiskars' industrial operations involve no significant environmental
risks. Production facilities have up-to-date environmental permits that set
clear limits on their operations. Changes in environmental directives can
affect existing environmental permits. Adapting to such directives may require
changes in existing production methods or investments in new equipment.

Production in the Home business area uses more energy than other Fiskars'
production units. All of the business area's production plants in Finland have
environmental and quality systems audited in accordance with ISO standards.


Share

Fiskars Corporation has one series of shares, following the combination of the
company's series A and K shares in July 2009. The new single class shares
(FIS1V) became subject to public trading as of July 31, 2009. All shares carry
one vote each and equal rights.

With reference to the decisions of the Extraordinary General Meeting on June
5, 2009, the combination of the share series, the directed free share issue to
the holders of series K shares, and the amendments to the articles of
association were registered with the Finnish Trade Register on July 30, 2009.
In the directed free share issue, the holders of series K shares received one
share free of charge for each five series K shares.

The execution of the merger of Agrofin Oy Abinto Fiskars as well as the share
issue for the payment of the merger consideration were registered with the
Finnish Trade Register on July 31. The new shares issued as merger
consideration became subject to public trading as of August 3, 2009. The
cancellation of 11,863,964 shares that were transferred to Fiskars as a result
of the execution of merger was registered on August 3, 2009.

The total number of shares at the end of the period was 82,023,341, including
112,619 treasury shares. The share capital remained unchanged at EUR
77,510,200.

Fiskars' shares are traded in the Large Cap segment of NASDAQ OMX Helsinki
Ltd. At the end of the year, the closing price was EUR 10.62 per share (A-
share 6.96; K-share 11.15). The market value of Fiskars, excluding treasury
shares, was EUR 869.9 million (633.2). The number of shares traded during the
year was 4.4 million (5.1).


Treasury shares

The Board of Directors had authorizations to acquire and dispose treasury
shares during the year. At the end of the period, the authorizations concerned
a maximum of 4,020,000 shares. The Board may decide on the disposal of the
shares otherwise than in proportion to the shareholders' pre-emptive
subscription rights. The authorizations will remain in force until the end of
the next Annual General Meeting. The authorizations were not used during the
year.

As of the end of the year, Fiskars owned 112,619 treasury shares,
corresponding to 0.14% of the Corporation's shares and votes.


Shareholders

Fiskars Corporation had 11 915 (9 899) shareholders as of the end of the year.

During the year Fiskars was informed on the following changes among the
largest shareholders of the Company:
- The voting rights of Robert G. Ehrnrooth fell below the 1/10 threshold on
  June15, 2009 when his controlling interest ended at Turret Oy Ab.
- The voting rights of Virala Oy Ab fell below the 3/20 threshold, holdings of
  Elsa Fromond together with the company Holdix Oy Ab in which she has a
  controlling interest exceeded the 1/10 threshold, and the voting rights of
  Oy Julius Tallberg Ab fell below the 1/20 threshold, following the
  combination of share series on July 30, 2009 and the merger of Agrofin and
  Fiskars on July 31, 2009.
- Elsa Fromond together with the company Holdix Oy Ab in which she has a
  controlling interest fell below the 1/10 threshold on October 5, 2009.


Annual General Meeting 2009

Fiskars Corporation's Annual General Meeting on March 16, 2009 approved the
financial statements for 2008 and discharged the members of the Board and the
CEO from liability for the 2008 financial year. It was decided to pay a
dividend of EUR 0.50 per share for series A shares and EUR 0.48 per share for
series K shares, totaling EUR 38,247,526.74. The dividend was paid on March
26, 2009.

The number of Board members was decided to 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 re-elected as Board members. The term of Board members
will expire at the end of the Annual General Meeting in 2010.

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

The Meeting authorized the Board to acquire and dispose Fiskars shares, a
maximum of 2,700,000 of Series A shares and a maximum of 1,100,000 of Series K
shares.


Constitutive meeting of the Board of Directors

Convening after the Annual General Meeting on March 16,2009, 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 Alexander Ehrnrooth, Paul Ehrnrooth, Ilona
Ervasti-Vaintola 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.


Extraordinary General Meeting 2009

Fiskars Corporation's Extraordinary General Meeting on June 5, 2009 approved a
proposal by the Board of Directors to combine the Company's A and K series of
shares, make a complimentary issue of shares to holders of K series shares,
amend the Company's Articles of Association, and approve a plan to merge the
Company and Agrofin Oy Ab.

The Meeting also decided to authorize the Board to acquire and dispose Fiskars
shares in accordance, a maximum of 4,020,000 shares, with separately agreed
conditions.


Annual General Meeting 2010

Fiskars Corporation's Annual General Meeting will be held on Tuesday, March
16, 2010 starting at 3 p.m. in the Helsinki Fair Centre. The invitation to the
meeting will be published separately.


Board's proposal to the Annual General Meeting

The distributable equity of the Parent Company at the end of the 2009 fiscal
year was EUR 429.9 million (460.5).

The Board of Directors proposes to the Annual General Meeting of Shareholders
that a dividend of EUR 0.52 per share would be paid for 2009.

The number of shares entitling to a dividend totaled 81,910,722. The proposed
distribution of dividend would thus be EUR 42,593,575.44. This would leave EUR
387.3 million 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
distribution of dividend will not compromise the Company's solvency.


Outlook for 2010

The market situation is expected to remain uncertain, which will continue to
make predicting developments difficult in 2010. High unemployment in North
America and Europe in particular could result in weaker consumer demand.
Retailer purchasing is also expected to remain cautious. All these factors
could have an impact on the development of Fiskars' net sales.

Fiskars will continue implementing measures designed to improve its
profitability and competitiveness in 2010. Investments in brands and product
development will be increased, as the Group's capabilities in these areas are
central to its success in a challenging market situation.

Fiskars' net sales in 2010 are expected to remain at 2009 levels. Full-year
operating profit excluding non-recurring items is expected to increase
compared to 2009.

Associated company Wärtsilä will continue to have a major impact on Fiskars'
profit and cash flow in 2010.


Helsinki, Finland, February 10, 2010

Fiskars Corporation
Board of Directors


CONSOLIDATED INCOME STATEMENT           10-12  10-12 Change   1-12   1-12 Change
                                         2009   2008      %   2009   2008      %
                                         MEUR   MEUR          MEUR   MEUR

NET SALES                               173.6  174.9     -1  662.9  697.0     -5

Cost of goods sold                     -112.6 -132.1    -15 -436.3 -483.5    -10
GROSS PROFIT                             61.0   42.8     43  226.6  213.5      6

Other operating income                    0.4    0.4     17    1.8    2.9    -37
Sales and marketing expenses            -33.6  -34.3     -2 -119.4 -129.8     -8
Administration expenses                 -15.5  -12.3     26  -58.8  -54.4      8
Research and development costs           -2.5   -2.9    -14   -8.9   -8.4      6
Other operating expenses                 -0.3  -17.1    -98   -1.9  -17.8    -89
OPERATING PROFIT (EBIT)                   9.5  -23.5          39.5    6.0

Change in fair value of
biological assets                        -0.1   -3.1    -98   -0.4   -5.6    -93
Share of profit from associate           19.8   24.6    -20   66.5   70.5     -6
Other financial income
and expenses                             -1.0   -6.1    -83  -14.2  -19.4    -26
PROFIT BEFORE TAXES                      28.2   -8.2          91.4   51.5     77

Income taxes                             -2.2    1.7          -7.9   -2.3
PROFIT FOR THE PERIOD                    26.0   -6.5          83.5   49.2     70

Attributable to:
Owners of the Company                    26.0   -6.5          83.5   49.3     69
Non-controlling interest                  0.0   -0.1           0.0   -0.1
                                         26.0   -6.5          83.5   49.2

Earnings for owners of the Company
per share, euro (basic and diluted)      0.32  -0.08          1.05   0.64


OTHER COMPREHENSIVE INCOME                            10-12  10-12   1-12   1-12
                                                       2009   2008   2009   2008
                                                       MEUR   MEUR   MEUR   MEUR

PROFIT FOR THE PERIOD                                  26.0   -6.5   83.5   49.2

Translation differences                                 0.1   -2.0   -1.9   -1.9
Change in associate recognized
directly in other comprehensive income                  2.2   -9.1   12.7  -18.1
Equity net investment hedges after tax                  0.1    1.6    1.3    0.7
Defined benefit plan, actuarial
gains (losses), net of tax                              1.1   -0.1    0.7   -0.2
Other changes                                                  0.0           0.2
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF TAX, IN TOTAL                    3.5   -9.6   12.8  -19.3

TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD                                         29.6  -16.1   96.3   29.9

Attributable to:
Owners of the Company                                  29.6  -16.0   96.3   30.0
Non-controlling interest                                0.0   -0.1    0.0   -0.1
                                                       29.6  -16.1   96.3   29.9


CONSOLIDATED BALANCE SHEET                                12/2009 12/2008 Change
                                                              MEUR   MEUR      %
ASSETS

NON-CURRENT ASSETS
Intangible assets                                            124.9  131.0     -5
Goodwill                                                      99.4   99.2      0
Property, plant & equipment                                   99.5  113.2    -12
Biological assets                                             38.9   39.3     -1
Investment property                                            8.5    7.7     11
Investments in associates                                    316.8  263.5     20
Financial assets
  Shares at fair value through profit and loss                 3.0    2.9      1
  Other investments                                            2.1    2.2     -2
Deferred tax assets                                           17.8   21.7    -18
NON-CURRENT ASSETS TOTAL                                     710.9  680.6      4

CURRENT ASSETS
Inventories                                                  119.0  159.8    -26
Trade and other receivables                                  101.9  109.6     -7
Income tax receivables                                         2.9    8.4    -66
Cash and cash equivalents                                     38.6   11.3    243
CURRENT ASSETS TOTAL                                         262.4  289.0     -9

ASSETS TOTAL                                                 973.3  969.7      0

EQUITY AND LIABILITIES

Equity attributable to the
Owners of the Company                                        504.8  446.7     13
Non-controlling interest                                       0.0    0.0
EQUITY TOTAL                                                 504.8  446.7     13

NON-CURRENT LIABILITIES
Interest bearing debt                                         74.9  137.5    -46
Other liabilities                                              0.9    1.4    -36
Deferred tax liabilities                                      47.2   49.3     -4
Pension liability                                              9.4    9.2      3
Provisions                                                     9.1   13.4    -32
NON-CURRENT LIABILITIES TOTAL                                141.5  210.8    -33

CURRENT LIABILITIES
Interest bearing debt                                        199.7  183.7      9
Trade and other payables                                     121.3  121.9     -1
Income tax payable                                             6.1    6.6     -9
CURRENT LIABILITIES TOTAL                                    327.1  312.2      5

EQUITY AND LIABILITIES TOTAL                                 973.3  969.7      0


CONSOLIDATED STATEMENT                                10-12  10-12   1-12   1-12
OF CASH FLOWS                                          2009   2008   2009   2008
                                                       MEUR   MEUR   MEUR   MEUR
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxes                                    28.2   -8.2   91.4   51.5
Adjustments for
  Depreciation                                          6.5   12.8   28.1   32.9
  Share of profit from associate                      -19.8  -24.6  -66.5  -70.5
  Investment income                                     0.5   -1.1    0.3   -1.0
  Interest expenses                                     1.1    7.4   14.2   20.4
  Change in fair value of biological assets             0.1    3.1    0.4    5.6
  Other non-cash items                                 -4.5         -12.4
Cash flow before changes in working capital            12.1  -10.6   55.6   39.0

Changes in working capital
  Change in current assets,
  non-interest bearing                                 -4.1   14.5   -0.7   10.9
  Change in inventories                                18.2   15.5   50.3   10.6
  Change in current liabilities,
  non-interest bearing                                 17.4    1.5    4.1   -7.5
Cash flow from operating activities
before financial items and taxes                       43.6   20.8  109.3   53.0

Dividends from associate                                             25.3   67.2
Financial costs paid (net)                             -1.2   -4.3  -13.8  -18.0
Taxes paid                                              0.6    0.6    0.2   -5.2
CASH FLOW FROM OPERATING ACTIVITIES (A)                43.0   17.2  121.0   97.0

CASH FLOW FROM INVESTING ACTIVITIES
Acquisitions                                                         -0.2   -3.1
Capital expenditure on fixed assets                    -3.4   -5.5  -14.5  -25.4
Proceeds from sale of fixed assets                      0.0    1.9    1.6    4.1
Cash flow from other investments                        3.7   -1.7    4.2   -1.4
CASH FLOW FROM INVESTING ACTIVITIES (B)                 0.3   -5.3   -8.7  -25.8

CASH FLOW FROM FINANCING ACTIVITIES
Sell of treasury shares                                                      0.2
Borrowings of non-current debt                                21.5   40.0   62.2
Repayment of non-current debt                          -9.7         -86.5   -0.1
Change in current debt                                 -1.6  -30.2    2.0  -85.6
Payment of financial lease liabilities                 -0.7   -0.8   -2.5   -3.4
Cash flow from other financing items                    0.0   -3.0   -0.1   -3.5
Dividends paid                                                      -38.2  -61.5
CASH FLOW FROM FINANCING ACTIVITIES (C)               -12.0  -12.5  -85.4  -91.7

CHANGE IN CASH (A+B+C)                                 31.3   -0.6   26.9  -20.5

Cash at beginning of period                             7.0   11.9   11.3   34.5
Translation difference                                  0.3    0.0    0.5   -2.8
Cash at end of period                                  38.6   11.3   38.6   11.3


STATEMENT OF CHANGES IN        Equity attributable to the         Non-cont Total
CONSOLIDATED EQUITY            owners of the Company:             rolling
                                        Trea- Cumul.              interest
                                 Share  sury transl. Retain.
                               capital shares  diff.  earn.
                                  MEUR   MEUR   MEUR   MEUR          MEUR   MEUR

31.12.2007                        77.5   -0.9   -9.3  410.5           0.5  478.3

Total comprehensive income for
the period                                0.1   -7.1   37.4          -0.5   29.9
Dividends paid                                        -61.5                -61.5

31.12.2008                        77.5   -0.8  -16.5  386.5           0.0  446.7

Total comprehensive income for
the period                                       3.7   92.6           0.0   96.3
Dividends paid                                        -38.2                -38.2
Acquisition of non-controlling interest                               0.1    0.1

31.12.2009                        77.5   -0.8  -12.8  440.9           0.0  504.8


KEY FIGURES                                               12/2009 12/2008 Change
                                                                               %
Equity/share, euro                                            6.16   5.77      7
Equity ratio                                                   52%    46%
Net gearing                                                    47%    69%
Equity, EUR million                                          504.8  446.7     13
Net interest bearing debt, EUR million                       235.7  309.9    -24
Average number of employees                                  3,867  4,325    -11
Number of employees, end of period                           3,623  4,119    -12
Number of shares outstanding end of period,
in thousands
A shares                                                           54,832
K shares                                                           22,565
Total                                                       81,911 77,398
Weighted average number of outstanding shares
during period, in thousands                                 79,289 77,398


CURRENCY RATES                                                1-12   1-12 Change
                                                              2009   2008      %
USD average rate                                              1.39   1.47     -5
USD end-of-period                                             1.44   1.39      4


NOTES TO THE FINANCIAL STATEMENTS BULLETIN

This financial statement bulletin is prepared in accordance with
IAS 34 (Interim Financial Reporting) using the same accounting policies and
methods of computation as in the previous annual financial statements
and IFRS standards and interpretations applied from January 1, 2009 onwards.

All figures in the accounts have been rounded and consequently the sum of
individual figures can deviate from the presented sum figure.

The share series of Fiskars Corporation were combined in July  2009.
Since that Fiskars Corporation has only one series of shares.
The total number of shares in the end of the reporting period was 82,023,341.
The company owns 112,619 treasury shares.  In the calculation of
earnings per share (EPS), average number of shares in the reporting
period has been used. Therefore EPS includes the effect of the combination
of the two share series and the directed free share issue.

The definition for operating profit (EBIT) was changed as of January 1, 2009.
The operating profit includes operating results of Fiskars operating segments
EMEA, America, and Others. The share of the profit of associated company
Wärtsilä and the change in the fair value of biological assets are presented
in separate lines below the EBIT in the income statement.

Fiskars' operating segment and business area structure was changed
as of January 1, 2009. The comparison figures for 2008 have been restated
according to the new structure. Fiskars Corporation has adopted IFRS 8
(Operating Segments) as of January 1, 2008.

Fiskars changed the accounting estimate used for valuing its biological assets
in the fourth quarter of 2008. The average price for measuring the fair
value of standing timber was changed to a three-year rolling average price.

Fiskars changed the accounting for defined benefit pension liabilities to apply
the amendment of IAS 19 allowing for immediate recognition of actuarial gains
and losses in the equity in the fourth quarter of 2008. The previous periods'
data was restated accordingly. Due to the change, a EUR 0.1 million adjustment
in the operating profit (EBIT) to the fourth quarter of 2008 was made.

The Group has implemented the following new or amended International
Financial Reporting Standards (IFRS) and interpretations applicable to the
Group as of January 1, 2009:

- Revised IAS 1 Presentation of Financial Statements
- Amendments to IFRS 7 Financial Instruments: Disclosures - Improving
  Disclosures About Financial Instruments
- IFRIC 13 Customer Loyalty Programmes
- Improvements to IFRS (Annual Improvements)
- IAS 23 (revised) Borrowing costs
The adoption of the revised standards and interpretations had no
material impact on the reported results or financial position.

Adoption of new IFRS standards and interpretations as from January 1, 2010:

The standards, interpretations and their amendments described below have been
issued but the Group has not applied these regulations before  their
effective dates.  The Group will adopt them as of the  effective date
or, if the date is other than the first day of the financial year,
from the beginning of the subsequent financial year.
- Revised IFRS 3 Business Combinations
- Amended IAS 27 Consolidated and Separate Financial Statements
- IFRS 9 Financial Instruments

Several other IFRS changes and interpretations will be issued 2010.
They will not have an impact on the financial statements.

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.


OPERATING SEGMENTS *)                   10-12  10-12 Change   1-12   1-12 Change
NET SALES                                2009   2008      %   2009   2008      %
                                         MEUR   MEUR          MEUR   MEUR
EMEA                                    126.4  124.4      2  454.2  491.3     -8
Americas                                 49.9   53.7     -7  218.2  216.5      1
Other                                     1.6    1.2     27    6.1    5.9      3
Inter-segment sales **)                  -4.3   -4.4         -15.5  -16.7
GROUP TOTAL                             173.6  174.9     -1  662.9  697.0     -5


OPERATING SEGMENTS *)                   10-12  10-12          1-12   1-12
OPERATING PROFIT (EBIT)                  2009   2008          2009   2008
                                         MEUR   MEUR          MEUR   MEUR
EMEA                                     10.5    1.0          26.7   21.7
Americas                                  2.3  -18.0          23.9   -4.0
Other and eliminations                   -3.3   -6.6         -11.1  -11.7
GROUP TOTAL                               9.5  -23.5          39.5    6.0


OPERATING SEGMENTS *)                   10-12  10-12          1-12   1-12
DEPRECIATION AND IMPAIRMENT              2009   2008          2009   2008
                                         MEUR   MEUR          MEUR   MEUR
EMEA                                      5.9    4.8          20.5   18.3
Americas                                  2.0    7.6           7.8   12.8
Other and eliminations                   -1.4    0.5          -0.2    1.8
GROUP TOTAL                               6.5   12.8          28.1   32.9


OPERATING SEGMENTS *)                   10-12  10-12          1-12   1-12
CAPITAL EXPENDITURE                      2009   2008          2009   2008
                                         MEUR   MEUR          MEUR   MEUR
EMEA                                      2.6    4.4          10.7   23.7
Americas                                  0.8    0.4           2.8    3.0
Other and eliminations                    0.2    1.7           1.1    3.1
GROUP TOTAL                               3.5    6.5          14.6   29.8

*) In a Stock Exchange Release on April 23, 2009, Fiskars published the
comparative figures for 2008 according to the new reporting structure.
The share of profit of the associated company Wärtsilä is presented in
a separate line below EBIT in the income statement.

**) Inter-segment sales
   EMEA                                  -2.6   -2.7          -7.9  -10.3
   Americas                              -1.1   -1.1          -5.2   -5.1
   Other                                 -0.6   -0.5          -2.4   -1.4

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.


BUSINESS AREAS                          10-12  10-12 Change   1-12   1-12 Change
NET SALES                                2009   2008      %   2009   2008      %
                                         MEUR   MEUR          MEUR   MEUR
Home                                     93.9   94.3      0  299.9  316.8     -5
Garden                                   40.0   38.3      5  230.9  231.2      0
Outdoor                                  38.7   41.2     -6  128.4  145.2    -12
Other                                     1.0    1.0           3.7    3.9
GROUP TOTAL                             173.6  174.9     -1  662.9  697.0     -5


INTANGIBLE ASSETS AND GOODWILL                                    12/200912/2008
                                                                     MEUR   MEUR
Book value, Jan. 1                                                  230.2  233.8
Currency translation adjustment                                      -0.1    2.8
Acquisitions and divestments                                         -0.5
Additions                                                             1.0    1.4
Amortization and impairment                                          -6.0   -6.0
Decreases and transfers                                              -0.2   -1.9
BOOK VALUE AT END OF PERIOD                                         224.4  230.2


TANGIBLE ASSETS AND INVESTMENT PROPERTY                           12/200912/2008
                                                                     MEUR   MEUR
Book value, Jan. 1                                                  120.9  130.2
Currency translation adjustment                                       0.1   -1.2
Acquisitions and divestments                                         -1.5
Additions                                                            13.6   24.0
Depreciation and impairment                                         -22.0  -26.5
Decreases and transfers                                              -3.0   -5.5
BOOK VALUE AT END OF PERIOD                                         108.0  120.9


CONTINGENCIES AND PLEDGED ASSETS                                  12/200912/2008
                                                                     MEUR   MEUR
AS SECURITY FOR OWN COMMITMENTS
Guarantees                                                              0      1
Lease commitments                                                      60     64
Other contingencies                                                     4      5
TOTAL                                                                  65     71

GUARANTEES AS SECURITY FOR THIRD-PARTY COMMITMENTS
Real estate mortgages                                                   2      2
Pledged assets                                                          2
TOTAL                                                                   4      2

AS SECURITY FOR SUBSIDIARIES' COMMITMENTS
Guarantees                                                              9     16

TOTAL CONTINGENCIES AND PLEDGED ASSETS                                 78     89


NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                                            151    171
Interest rate swaps                                                     1     16
Electricity forward agreements                                          2      2

MARKET VALUE VS. NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                                              0      2
Interest rate swaps                                                     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 25.3 million is reported as Dividends from
associate in the Consolidated Statement of Cash Flows.
The dividend was received during the first quarter of 2009.


ACQUISITIONS AND DIVESTMENTS

Fiskars acquired a 30% minority share of Silva Far East Ltd in June 2009.
The holding was acquired from Kasinda Holding Limited for EUR 0.2 million.
After the minority share acquisition, the manufacturing company in China became
a wholly owned subsidiary of Silva Sweden AB.

Fiskars sold the Brunton business in in Wyoming, USA in December 2009 to
Fenix Outdoor AB (publ) of Sweden.  The transaction did not have a material
impact on Fiskars´ net sales or operating profit 2009. Brunton was reported
as a part of Fiskars´Outdoor business.



Fiskars is a leading global supplier of consumer products for the home,
garden, and outdoors. The group has a strong portfolio of respected
international brands, including Fiskars, Iittala, Gerber, Silva, and Buster.
Founded in 1649 and listed on NASDAQ OMX Helsinki, Fiskars is Finland's oldest
company. Fiskars recorded net sales of EUR 663 million in 2009, and employs
some 3,600 people.

www.fiskarsgroup.com


FISKARS CORPORATION

Kari Kauniskangas
President & CEO