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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     Interim Report     November 4, 2009 at 8.30 AM

FISKARS INTERIM REPORT JANUARY-SEPTEMBER 2009
Continued strong cash flow

Third quarter 2009 highlights:
- Net sales decreased 11% to EUR 142.6 million (160.1)
- Operating profit (EBIT) increased to EUR 8.8 million (7.8)
- Non-recurring items in operating profit totaled 0.0 million (-2.3)
- Earnings per share were EUR 0.22 (0.25)
- Cash flow from operating activities was EUR 30.6 million (27.6)
- Outlook for 2009 unchanged

Fiskars President and CEO, Kari Kauniskangas:
"Fiskars' net sales were down in the third quarter as a result of the
volatile market environment. The largest sales decrease was seen in the
Americas and it was partly due to postponed shipments to the last
quarter of the year. Our efforts to improve profitability are, however,
on a good track despite of increased marketing investments in the
garden business to strengthen Fiskars' brand awareness in Central
Europe.

Strong cash flow from operating activities continued, thanks to active
inventory management. We expect the uncertain market situation to
continue into the last quarter of the year, which is critical for the
success of our Home and Outdoor business areas. Due to this
uncertainty, we keep our outlook for 2009 unchanged."

GROUP KEY FIGURES

EUR million                 Q3      Q3  Change   Q1-Q3   Q1-Q3  Change   Q1-Q4
                          2009    2008       %    2009    2008       %    2008

Net sales                142.6   160.1    -11%   489.3   522.1     -6%   697.0
Operating profit (EBIT)    8.8     7.8     12%    30.0    29.5      2%     6.0
Share of profit from
associate                 14.7    16.1     -9%    46.7    45.9      2%    70.5
Change in the fair value
of biological assets      -0.1     0.3            -0.3    -2.6            -5.6
Profit before taxes       20.6    20.7     -1%    63.2    59.7      6%    51.5
Profit for the period     17.9    19.7     -9%    57.5    55.7      3%    49.2
Earnings per share, EUR*  0.22    0.25    -12%    0.73    0.72      2%    0.64
Equity per share, EUR*                            5.80    5.98     -3%    5.77
Cash flow from
operating activities      30.6    27.6     11%    77.9**  79.8***  -2%    97.0
Equity ratio, %                                    50%     46%             46%
Net gearing, %                                     59%     70%             69%

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


FURTHER INFORMATION
President and CEO Kari Kauniskangas, tel. +358 9 6188 6222
CFO Teemu Kangas-Kärki, tel. +358 9 6188 6231


FISKARS INTERIM REPORT JANUARY-SEPTEMBER 2009
(IFRS, unaudited)

GROUP IN Q3 2009
Fiskars' net sales in July-September 2009 decreased by 11% to EUR 142.6
million (Q3 2008: EUR 160.1 million). At comparable currency rates, the
Group's sales decreased by 10%.

The Group's operating profit increased by 12% to EUR 8.8 million (7.8,
includes non-recurring costs of EUR 2.3 million).

Income from associate Wärtsilä was EUR 14.7 million (16.1) for the
quarter, and the change in the fair value of standing timber (i.e.
biological assets) EUR -0.1 million (0.3).

Net financial costs were EUR 2.8 million (3.4). Profit before
taxes was EUR 20.6 million (20.7). The profit for the third
quarter of 2009 was EUR 17.9 million (19.7), and earnings per
share were EUR 0.22 (0.25).

GROUP IN JANUARY-SEPTEMBER 2009
The Group's net sales decreased by 6% to EUR 489.3 million (Q1-Q3 2008:
EUR 522.1 million). At comparable currency rates, the sales decreased
by 7%.

The operating profit increased by 2% to EUR 30.0 million, and includes
EUR 0.5 million of non-recurring costs (29.5, includes non-recurring
costs of EUR 3.1 million).

Income from associate Wärtsilä was EUR 46.7 million (45.9), and the
change in the fair value of standing timber was EUR -0.3 million
(-2.6).

Net financial costs were EUR 13.2 million (13.2). Profit before taxes
was EUR 63.2 million (59.7). The profit for the period was EUR 57.5
million (55.7), and earnings per share were EUR 0.73 (0.72).

OPERATING SEGMENTS AND BUSINESS AREAS
Fiskars' operating segments are EMEA (Europe, Middle East, and Asia-
Pacific), Americas, Wärtsilä (associated company), and Other. The
business areas 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.

EUR million                  Q3      Q3 Change  Q1-Q3  Q1-Q3 Change  Q1-Q4
                           2009    2008      %   2009   2008      %   2008
KEY OPERATING SEGMENTS
EMEA, net sales            100.0  109.0    -8%  327.8  366.9   -11%  491.3
EMEA, operating profit       6.0    5.4    12%   16.1   20.7   -22%   21.7*
Americas, net sales         43.7   52.2   -16%  168.2  162.9     3%  216.5
Americas, operating profit   4.6    5.1   -10%   21.7   13.9    55%   -4.0**

KEY BUSINESS AREAS
Home, net sales             74.2   80.4    -8%  206.0  222.4    -7%  316.8
Garden, net sales           42.3   46.1    -8%  190.9  192.9    -1%  231.2
Outdoor, net sales          24.9   32.6   -24%   89.7  103.9   -14%  145.2

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

EMEA IN Q3/2009
Net sales in EMEA decreased by 8% to EUR 100.0 million (109.0).
Currency fluctuations, mainly the Swedish krona and the British pound,
continued to negatively affect net sales in all business areas. At
comparable currency rates, sales were down 5%. The operating profit was
EUR 6.0 million (5.4).

Net sales in the Home business area were slightly down. Sales continued
to develop well in our largest markets, Finland and Sweden,
particularly in own stores. In other geographical markets, however,
sales were below previous year's levels. Operating profit increased
thanks to better efficiency in production and savings in the fixed cost
base.

In the Garden business area, sales for Fiskars branded garden tools
continued to grow. Weak sales in construction tools and forging
products, however, kept total net sales below previous year's level.
The positive impact of the high-margin product mix was offset by
increased marketing costs, which meant that operating profit was
similar to last year's.

Net sales in the Outdoor business area declined in a challenging market
environment. Outdoor equipment sales were down, particularly in export
markets. Lower sales volumes negatively impacted the business'
operating profit. Boat sales continued to fall during the third quarter
in a weak market. Low sales volume, together with higher development
costs related to new boat models, resulted an operating loss in the
Outdoor business area.

AMERICAS IN Q3/2009
Net sales in the Americas decreased 16% to EUR 43.7 million (52.2). In
USD terms, net sales decreased 20% to USD 62.6 million (78.2). This was
partly due to sales shifts between quarters. The operating profit was
EUR 4.6 million (5.1).

Garden sales were down, with retailers continuing to cut their
inventories. Despite lower sales volumes, the business succeeded in
achieving a similar level of operating profit to previous year.

Sales of School, Office, and Craft (SOC) products continued to fall,
partly due to product lines divested in July 2009. Lost sales in this
area were offset by reduced fixed costs, resulting in an improvement in
operating profit.

Net sales in Outdoor Americas were down during the third quarter.
Commercial sales declined due to postponed shipments to retailers.
Institutional sales continued to develop positively, however. Lower
sales resulted in a decline in operating profit for the quarter.

OTHER IN Q3 2009
Fiskars' Other segment covers the Real Estate Unit and corporate
headquarter functions. Net sales for the segment were EUR 1.7 million
(1.5). Operating profit was EUR -1.9 million (-2.7).

WÄRTSILÄ
Fiskars owns 17.1% of the shares and votes of its associated company
Wärtsilä Corporation. In the third quarter, Fiskars' share of
Wärtsilä's profit totaled EUR 14.7 million (16.1).

The market value of Fiskars' Wärtsilä shares was EUR 461.3 million
(496.3) at the end of September, with a share price EUR 27.38 per
share. The book value of the shares was EUR 295.4 million (247.1).

FINANCING
Fiskars' cash flow from operating activities in the third quarter was
EUR 30.6 million (27.6).The increase was due in partto reduced
inventory levels. Cash flow from operating activities during the first
nine months of the year was EUR 77.9 million (79.8), and includes
dividends paid by associated company Wärtsilä, which totaled EUR 25.3
million (67.2).

Cash flow from investing activities was EUR -1.8 million (-6.0) and
cash flow after investing activities was EUR 28.8 million (21.6) in the
quarter.

Net working capital was EUR 133.0 million at the end of September
(179.3). The equity ratio was 50% (46%) and net gearing 59% (70%).

Cash and deposits at the end of September were EUR 7.0 million (11.9).
Net interest-bearing debt amounted to EUR 279.3 million (321.9
million). Short-term borrowings totaled EUR 195.8 million (169.2) and
long-term borrowings EUR 91.7 million (164.6). Short-term borrowings
are mainly commercial papers issued by Fiskars Corporation. In
addition, Fiskars had EUR 415.0 million (425.0) in unused, binding
long-term credit facilities, mainly with major Nordic banks.

CAPITAL EXPENDITURE
Capital expenditure during the third quarter was EUR 3.1 million (7.6).
The majority of the investments were replacement investments for on-
going business, mostly in production facilities. Total capital
expenditure during the first nine months of the year was EUR 11.0
million (23.3).

PERSONNEL
The Group employed 3,758 people (4,276) as of the end of September:
2,975 (3,376) people in EMEA, 712 (844) in the Americas and 71 (56) in
Other. Personnel number declined by 65 from the previous quarter-end,
in particular at production plants in Finland. The average number of
personnel in the period was 3,921 (4,361).

CHANGES IN CORPORATE MANAGEMENT
Tero Vähäkylä, President of Fiskars Home Business Area and Managing
Director of Iittala Group Ltd resigned in August 2009. Jaakko Autere,
M.Sc. (Econ), was appointed new President of the business area,
reporting to Fiskars Corporation's President and CEO. He will assume
his duties in January 2010.

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

SHARE AND SHAREHOLDERS
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.
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. 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 into 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.
The 11,863,964 shares that were transferred to Fiskars as a result of
the execution of merger were cancelled on August 3.

The total number of shares at the end of the period was 82,023,341.
Fiskars owns 112,619 treasury shares, corresponding to 0.14% of the
Corporation's shares and votes. 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 September, the share price was EUR 10.65
(A-share: 9.43). The market value of Fiskars, excluding treasury
shares, was EUR 872.3 million. The number of shares traded during the
quarter was 1.0 million (0.6), and 2.5 million (3.6) during January-
September.

The total number of Fiskars shareholders was 11,591 as of the end of
period. The combination of share series and the merger of Agrofin and
Fiskars led to the following changes among the largest Fiskars
shareholders: the voting rights of Virala Oy Ab fell below the 3/20
(15%) threshold, holdings of Elsa Fromond together with the company
Holdix Oy Ab in which she has a controlling interest exceeded the 1/10
(10%) threshold, and the voting rights of Oy Julius Tallberg Ab fell
below the 1/20 (5%) threshold.

RISKS AND BUSINESS UNCERTAINTIES
The downturn in the economy has increased uncertainties that may affect
Fiskars' net sales and financial performance in 2009.

The principal uncertainties are related to:
- General market conditions and a potential further 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
  specialized 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.

Risks and how Fiskars manages them are described in more detail in
Fiskars' Annual Report for 2008 (see Pages 28 and 72-73).

EVENTS AFTER THE REVIEW PERIOD
Fiskars was informed on October 6 that the holdings of Elsa Fromond
together with the company Holdix Oy Ab in which she has a controlling
interest had fallen below the threshold of 1/10 (10%).

Fiskars Corporation's subsidiary Iittala Group Ltd. started in October
2009 codetermination negotiations with employees on possible
redundancies in Finland. The aim is to simplify the company's
organizational structure and initiate further measures to adapt its
cost structure to the challenging market situation.

OUTLOOK FOR 2009
The market outlook is expected to remain uncertain during the last
quarter of 2009. Consumer confidence is showing signs of recovery but
Fiskars' business is likely to continue to be challenging due to
cautious buying of retailers. This will have an impact on Fiskars' net
sales.

The Corporation has restructured its organization and is reducing its
cost base to meet projected consumer demand and ensure Fiskars'
competitiveness. A clear business focus on specialized business areas
and brands, together with new product development will continue to be
key success factors in a challenging market environment.

Fiskars' outlook for 2009 remains unchanged: full-year net sales in
2009 are expected to be below the 2008 sales. Operating profit
excluding non-recurring items is expected to be lower than in 2008.

Associated company Wärtsilä will continue to have a major impact on
Fiskars' profit and cash flow in 2009.


Helsinki, Finland, November 3, 2009

Fiskars Corporation
Board of Directors



CONSOLIDATED INCOME STATEMENT      7-9    7-9 Change    1-9    1-9 Change   1-12
                                  2009   2008     %    2009   2008     %    2008
                                  MEUR   MEUR          MEUR   MEUR          MEUR

NET SALES                        142.6  160.1    -11  489.3  522.1     -6  697.0

Cost of goods sold               -91.5 -108.8    -16 -323.7 -351.4     -8 -483.5
GROSS PROFIT                      51.0   51.3     -1  165.7  170.7     -3  213.5

Other operating income             0.3    1.3    -75    1.4    2.5    -44    2.9
Sales and marketing expenses     -27.8  -29.5     -6  -85.8  -95.5    -10 -129.8
Administration expenses          -12.7  -12.5      1  -43.3  -42.1      3  -54.4
Research and development costs    -1.9   -1.5     23   -6.4   -5.4     18   -8.4
Other operating expenses          -0.3   -1.2    -79   -1.6   -0.7    127  -17.8
OPERATING PROFIT (EBIT)            8.8    7.8     12   30.0   29.5      2    6.0

Change in fair value of
biological assets                 -0.1    0.3   -130   -0.3   -2.6    -88   -5.6
Share of profit from associate    14.7   16.1     -9   46.7   45.9      2   70.5
Other financial income
and expenses                      -2.8   -3.4    -21  -13.2  -13.2      0  -19.4
PROFIT BEFORE TAXES               20.6   20.7     -1   63.2   59.7      6   51.5

Income taxes                      -2.7   -1.1          -5.7   -4.0          -2.3
PROFIT FOR THE PERIOD             17.9   19.7     -9   57.5   55.7      3   49.2

Attributable to:
Owners of the Company             17.9   19.7     -9   57.5   55.7      3   49.3
Non-controlling interest           0.0    0.0           0.0    0.0          -0.1
                                  17.9   19.7          57.5   55.7          49.2

Earnings for owners of the Company
per share, euro (basic)           0.22   0.25          0.73   0.72          0.64

Earnings per share, euro (diluted)0.22   0.25          0.73   0.72          0.64


OTHER COMPREHENSIVE INCOME                       7-9    7-9    1-9    1-9   1-12
                                                2009   2008   2009   2008   2008
                                                MEUR   MEUR   MEUR   MEUR   MEUR

PROFIT FOR THE PERIOD                           17.9   19.7   57.5   55.7   49.2

Translation differences                         -2.2    7.5   -2.0    0.1   -1.9
Change in associate recognized
directly in equity                               5.1   -6.8   10.5   -9.0  -18.1
Equity net investment hedges after tax           0.6   -3.6    1.2   -0.9    0.7
Defined benefit plan, actuarial
gains (losses), net of tax                       0.0   -0.1   -0.4   -0.2   -0.2
Other changes                                    0.0    0.0    0.0    0.2    0.2
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD, NET OF TAX, IN TOTAL             3.6   -2.9    9.2   -9.8  -19.3

TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD                                  21.4   16.7   66.7   45.9   29.9

Attributable to:
Owners of the Company                           21.4   16.7   66.7   45.9   30.0
Non-controlling interest                         0.0    0.0    0.0    0.0   -0.1
                                                21.4   16.7   66.7   45.9   29.9


CONSOLIDATED BALANCE SHEET                           9/2009 9/2008Change 12/2008
                                                       MEUR   MEUR     %    MEUR
ASSETS

NON-CURRENT ASSETS
Intangible assets                                     126.9  133.2     -5  131.0
Goodwill                                               99.3   99.7      0   99.2
Property, plant & equipment                           104.8  120.4    -13  113.2
Biological assets                                      39.0   42.4     -8   39.3
Investment property                                     7.4    8.1     -9    7.7
Investments in associates                             295.4  247.1     20  263.5
Financial assets
  Shares at fair value through profit and loss          2.8    2.2     27    2.9
  Other investments                                     2.5    2.6     -5    2.2
Deferred tax assets                                    21.3   25.0    -15   21.7
NON-CURRENT ASSETS TOTAL                              699.2  680.6      3  680.6

CURRENT ASSETS
Inventories                                           134.0  178.6    -25  159.8
Trade and other receivables                            97.7  123.5    -21  109.6
Income tax receivables                                  6.2    6.1      2    8.4
Cash and cash equivalents                               7.0   11.9    -41   11.3
CURRENT ASSETS TOTAL                                  244.9  320.1    -23  289.0

ASSETS TOTAL                                          944.1 1000.6     -6  969.7

EQUITY AND LIABILITIES

Equity attributable to the
Owners of the Company                                 475.2  462.8      3  446.7
Non-controlling interest                                0.0    0.1           0.0
EQUITY TOTAL                                          475.2  462.8      3  446.7

NON-CURRENT LIABILITIES
Interest bearing debt                                  91.7  164.6    -44  137.5
Other liabilities                                       1.0    1.7    -41    1.4
Deferred tax liabilities                               48.2   50.3     -4   49.3
Pension liability                                       9.0    9.8     -8    9.2
Provisions                                             10.5    6.2     70   13.4
NON-CURRENT LIABILITIES TOTAL                         160.4  232.6    -31  210.8

CURRENT LIABILITIES
Interest bearing debt                                 195.8  169.2     16  183.7
Trade and other payables                              103.8  128.4    -19  121.9
Income tax payable                                      8.9    7.6     17    6.6
CURRENT LIABILITIES TOTAL                             308.5  305.2      1  312.2

EQUITY AND LIABILITIES TOTAL                          944.1 1000.6     -6  969.7


CONSOLIDATED STATEMENT                           7-9    7-9    1-9    1-9   1-12
OF CASH FLOWS                                   2009   2008   2009   2008   2008
                                                MEUR   MEUR   MEUR   MEUR   MEUR
CASH FLOW FROM OPERATING ACTIVITIES
Profit before taxes                             20.6   20.8   63.2   59.7   51.5
Adjustments for
  Depreciation                                   6.3    6.9   21.6   20.0   32.9
  Share of profit from associate               -14.7  -16.1  -46.7  -45.9  -70.5
  Investment income                             -0.3    0.4   -0.3    0.2   -1.0
  Interest expenses                              2.7    3.0   13.2   13.0   20.4
  Change in fair value of biological assets      0.1   -0.3    0.3    2.6    5.6
  Other non-cash items                          -3.9          -7.9
Cash flow before changes in working capital     10.8   14.8   43.5   49.6   39.0

Changes in working capital
  Change in current assets,
  non-interest bearing                          15.5   17.5    3.4   -3.6   10.9
  Change in inventories                         14.5    0.2   32.1   -4.9   10.6
  Change in current liabilities,
  non-interest bearing                          -8.4   -1.2  -13.3   -9.0   -7.5
Cash flow from operating activities
before financial items and taxes                32.5   31.4   65.7   32.1   53.0

Dividends from associate                                      25.3   67.2   67.2
Financial costs paid (net)                      -2.3   -2.7  -12.6  -13.8  -18.0
Taxes paid                                       0.3   -1.1   -0.4   -5.8   -5.2
CASH FLOW FROM OPERATING ACTIVITIES (A)         30.6   27.6   77.9   79.8   97.0

CASH FLOW FROM INVESTING ACTIVITIES
Acquisitions                                     0.0          -0.2   -3.1   -3.1
Capital expenditure on fixed assets             -3.2   -7.5  -11.0  -19.9  -25.4
Proceeds from sale of fixed assets               1.3    1.1    2.0    2.2    4.1
Cash flow from other investments                 0.1    0.4    0.2    0.3   -1.4
CASH FLOW FROM INVESTING ACTIVITIES (B)         -1.8   -6.0   -9.0  -20.5  -25.8

CASH FLOW FROM FINANCING ACTIVITIES
Sell of treasury shares                                               0.2    0.2
Borrowings of non-current debt                          3.2   40.0   40.7   62.2
Repayment of non-current debt                  -11.0         -76.8   -0.1   -0.1
Change in current debt                         -21.7  -22.1    3.6  -55.4  -85.6
Payment of financial leases liabilities         -0.6   -0.9   -1.8   -2.6   -3.4
Cash flow from other financing items             1.6    0.5    0.0   -0.5   -3.5
Dividends paid                                               -38.2  -61.5  -61.5
CASH FLOW FROM FINANCING ACTIVITIES (C)        -31.9  -19.2  -73.4  -79.2  -91.7

CHANGE IN CASH (A+B+C)                          -3.1    2.4   -4.5  -19.9  -20.5

Cash at beginning of period                     10.0   13.1   11.3   34.5   34.5
Translation difference                           0.1   -3.9    0.2   -2.8   -2.8
Cash at end of period                            7.0   11.9    7.0   11.9   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

Dec 31, 2007                      77.5   -0.9   -9.3  410.5           0.5  478.3

Total comprehensive income for
the period                                0.1   -0.8   47.1          -0.4   45.9
Dividends paid                                        -61.5                -61.5

Sep 30, 2008                      77.5   -0.8  -10.1  396.1           0.1  462.8

Total comprehensive income for
the period                                0.0   -6.3   -9.7          -0.1  -16.0

Dec 31, 2008                      77.5   -0.8  -16.5  386.5           0.0  446.7

Total comprehensive income for
the period                                       2.6   64.1           0.0   66.7
Dividends paid                                        -38.2                -38.2
Acquisition of non-controlling interest                               0.1    0.1

Sep 30, 2009                      77.5   -0.8  -13.8  412.4           0.0  475.2


KEY FIGURES                                         9/2009 9/2008 Change 12/2008
                                                                       %
Equity/share, euro                                    5.80   5.98     -3    5.77
Equity ratio                                           50%    46%            46%
Net gearing                                            59%    70%            69%
Equity, EUR million                                  475.2  462.8      3   446.7
Net interest bearing debt, EUR million               279.3  321.9    -13   309.9
Average number of employees                          3,921  4,361    -10   4,325
Number of employees, end of period                   3,758  4,276    -12   4,119
Number of shares outstanding end of period,
in thousands
A shares                                                   54,832         54,832
K shares                                                   22,565         22,565
Total                                               81,911 77,398         77,398
Weighted average number of outstanding shares
during period, in thousands                         78,406 77,398         77,398


CURRENCY RATES                                         1-9    1-9 Change    1-12
                                                      2009   2008      %    2008
USD average rate                                      1.36   1.52    -10    1.47
USD end-of-period                                     1.46   1.43      2    1.39


NOTES TO THE INTERIM FINANCIAL STATEMENTS

This interim 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 annual financial statements.

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 second 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:
 - IAS 1 (revised) Presentation of Financial Statements
 - IAS 23 (revised) Borrowing costs
 - IFRIC 13 Customer Loyalty Programmes

The adoption of the revised standards and interpretations had no impact on the
reported results or financial position. However, due to the adoption of the
revised IAS 1 there were several changes in the terminology.

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 *)              7-9    7-9 Change    1-9    1-9 Change   1-12
NET SALES                         2009   2008      %   2009   2008      %   2008
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA                             100.0  109.0     -8  327.8  366.9    -11  491.3
Americas                          43.7   52.2    -16  168.2  162.9      3  216.5
Other                              1.7    1.5     13    4.5    4.7     -3    5.9
Inter-segment sales **)           -3.0   -2.6         -11.2  -12.3         -16.7
GROUP TOTAL                      142.6  160.1    -11  489.3  522.1     -6  697.0


OPERATING SEGMENTS *)              7-9    7-9           1-9    1-9          1-12
OPERATING PROFIT (EBIT)           2009   2008          2009   2008          2008
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA                               6.0    5.4          16.1   20.7          21.7
Americas                           4.6    5.1          21.7   13.9          -4.0
Other and eliminations            -1.9   -2.7          -7.8   -5.1         -11.7
GROUP TOTAL                        8.8    7.8          30.0   29.5           6.0


OPERATING SEGMENTS *)              7-9    7-9           1-9    1-9          1-12
DEPRECIATION AND IMPAIRMENT       2009   2008          2009   2008          2008
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA                               4.1    4.8          14.6   13.5          18.3
Americas                           1.8    1.7           5.8    5.2          12.8
Other and eliminations             0.4    0.4           1.2    1.3           1.8
GROUP TOTAL                        6.3    6.9          21.6   20.0          32.9


OPERATING SEGMENTS *)              7-9    7-9           1-9    1-9          1-12
CAPITAL EXPENDITURE               2009   2008          2009   2008          2008
                                  MEUR   MEUR          MEUR   MEUR          MEUR
EMEA                               2.2    6.2           8.1   19.3          23.7
Americas                           0.6    1.3           2.1    2.6           3.0
Other and eliminations             0.3    0.5           0.9    1.4           3.1
GROUP TOTAL                        3.1    8.0          11.1   23.3          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                           -0.9   -1.6          -5.4   -7.5         -10.3
   Americas                       -1.4   -1.0          -4.0   -4.0          -5.1
   Other                          -0.6    0.0          -1.8   -0.8          -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                     7-9    7-9 Change    1-9    1-9 Change   1-12
NET SALES                         2009   2008     %    2009   2008     %    2008
                                  MEUR   MEUR          MEUR   MEUR          MEUR
Home                              74.2   80.4     -8  206.0  222.4     -7  316.8
Garden                            42.3   46.1     -8  190.9  192.9     -1  231.2
Outdoor                           24.9   32.6    -24   89.7  103.9    -14  145.2
Other                              1.1    0.9           2.7    2.8           3.9
GROUP TOTAL                      142.6  160.1    -11  489.3  522.1     -6  697.0


INTANGIBLE ASSETS AND GOODWILL                              9/2009 9/200812/2008
                                                              MEUR   MEUR   MEUR
Book value, Jan. 1                                           230.2  233.8  233.8
Currency translation adjustment                               -0.3    0.0    2.8
Acquisitions                                                   0.2
Additions                                                      0.5    1.5    1.4
Amortization and impairment                                   -4.6   -3.8   -6.0
Decreases and transfers                                        0.1    1.4   -1.9
BOOK VALUE AT END OF PERIOD                                  226.2  232.9  230.2


TANGIBLE ASSETS AND INVESTMENT PROPERTY                     9/2009 9/200812/2008
                                                              MEUR   MEUR   MEUR
Book value, Jan. 1                                           120.9  130.2  130.2
Currency translation adjustment                               -0.4    0.3   -1.2
Additions                                                     10.5   18.7   24.0
Depreciation and impairment                                  -16.6  -16.5  -26.5
Decreases and transfers                                       -2.1   -4.2   -5.5
BOOK VALUE AT END OF PERIOD                                  112.2  128.5  120.9


CONTINGENCIES AND PLEDGED ASSETS                            9/2009 9/200812/2008
                                                              MEUR   MEUR   MEUR
AS SECURITY FOR OWN COMMITMENTS
Guarantees                                                       0      1      1
Lease commitments                                               59     68     64
Other contingencies                                              4      6      5
TOTAL                                                           63     76     71

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

AS SECURITY FOR SUBSIDIARIES' COMMITMENTS
Guarantees                                                      10     17     16

TOTAL CONTINGENCIES AND PLEDGED ASSETS                          76     94     89


NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                                     135     93    171
Interest rate swaps                                              1     16     16
Electricity forward agreements                                          1      2

MARKET VALUE VS. NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                                       0      1      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

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.


EVENTS AFTER THE REVIEW PERIOD

Fiskars Corporation´s subsidiary Iittala Group started in October 2009
codetermination negotiations with employees on possible redundancies in Finland.
The financial effect can not yet be determined.



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.
Associated company, Wärtsilä Corporation, is also an important part of the
group, and forms one of Fiskars' operating segments, together with the
Americas, EMEA, and Other. Founded in 1649 and listed on NASDAQ OMX Helsinki,
Fiskars is Finland's oldest company. Fiskars recorded net sales of EUR 697
million in 2008, and employs some 3,800 people.

www.fiskars.fi


FISKARS CORPORATION

Kari Kauniskangas
President & CEO