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Stock exchange & press releases

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

Stock-exchange releases related to transactions of Fiskars shares by the management and closely associated persons as well as Fiskars management’s shareholdings as detailed in EU Market Abuse Regulation No 596/2014, ”MAR”, can be found on the Management’s Transactions page »

Stock-exchange releases related to the buyback of Fiskars shares by Fiskars Corporation can be found on the Share buyback page »

Published:
2017-10-31 07:30:00 CET
Fiskars Corporation
Interim report (Q1 and Q3)

FISKARS INTERIM REPORT JANUARY–SEPTEMBER 2017: Continued growth in comparable net sales and comparable EBITA

Fiskars Corporation
Interim report
October 31, 2017 at 8:30 a.m. (EET)

FISKARS INTERIM REPORT JANUARY–SEPTEMBER 2017: Continued growth in comparable net sales and comparable EBITA

This release is a summary of the Fiskars Corporation’s third quarter of 2017 and interim report January–September 2017 published today. The complete interim report with tables is attached to this release. It is also available at http://fiskarsgroup.com/investors/reports-presentations/interim-reports and on the company website at www.fiskarsgroup.com. Investors should not rely on summaries of our interim reports only, but should review the complete interim reports with tables. 

Third quarter 2017 in brief:

  • Net sales decreased by 3.8% to EUR 270.1 million (Q3 2016: 280.8)
  • Comparable net sales1) increased by 1.1%
  • Comparable2) EBITA increased by 17% to EUR 29.1 million (24.9)
  • EBITA increased to EUR 30.5 million (23.4)
  • Cash flow from operating activities before financial items and taxes amounted to EUR 24.8 million (40.3)
  • Earnings per share (EPS) were EUR 1.20 (0.52). Operative earnings per share3) totaled EUR 0.25 (0.15)  

January–September 2017 in brief:

  • Net sales decreased by 0.5% to EUR 866.3 million (Q1–Q3 2016: 870.5)
  • Comparable net sales1) increased by 2.2%
  • Comparable2) EBITA increased by 18% to EUR 83.5 million (70.8)
  • EBITA increased to EUR 82.7 million (68.6)
  • Cash flow from operating activities before financial items and taxes amounted to EUR 27.0 million (43.2)
  • Earnings per share (EPS) were EUR 2.59 (0.27). Operative earnings per share3) totaled EUR 0.59 (0.33)   

Specified outlook for 2017:

Fiskars expects the Group’s net sales, excluding the net sales of businesses divested in 2016 (2016: EUR 1,180 million) and comparable EBITA (2016: EUR 107 million) to increase from the previous year. Should the weakening of the U.S. dollar continue during the remainder of the year, the net sales, excluding the net sales of businesses divested in 2016, may stay at the same level with the previous year, due to the translation exposure. Fiskars expects the comparable net sales to increase from the previous year.  

Previous outlook for 2017: 

Fiskars estimated in its half-year report of August 1, 2017 that the Group’s net sales, excluding the net sales of businesses divested in 2016 (2016: EUR 1,180 million) and comparable EBITA (2016: EUR 107 million) will increase from the previous year. 

President and CEO, Fiskars, Jaana Tuominen:

Fiskars Group increased its comparable net sales and comparable EBITA during the third quarter of 2017. The Scandinavian Living business was clearly the highlight of the quarter as it continued to perform strongly. I was also pleased to see the comparable net sales increase in the Functional business, with a significant year-on-year increase in the comparable EBITA.  

The third quarter results demonstrated our positive business momentum, even if some challenges remain. Many of our brands grew their net sales and strengthened their position in the marketplace. The trading challenges especially in the U.S. continued to constrain the English & Crystal Living business. As the transformation of the retail sector continues, we have ongoing initiatives to help us compete in the rapidly changing business environment. Building on our mission to create a family of iconic lifestyle brands, we continued to develop our key international brands Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood.  

The Functional business progressed during the third quarter, supported by the garden and yard care as well as the school, office and crafting categories and successful fall campaigns. In honor of the 50th anniversary of Fiskars’ orange-handled scissors, we held an exhibition at the Design Museum in Helsinki. With over a billion pairs sold world-wide, these scissors have made Fiskars the biggest scissors brand in the world. For the third year in a row, the Functional business achieved another sales record in the U.S. during the Back to School season, supported by the recognition from teachers as Fiskars won for kids scissors two Teachers’ Choice Awards 

Our team is ready to make progress during the important fourth quarter, which was very strong last year. I’m proud to be part of the Fiskars team and lead the company forward on its journey. We aspire to continue to grow profitably, supported by the strong position in our core markets, a family of great brands and plenty of opportunities to fulfil our promise of making the everyday extraordinary.”   

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1) Using comparable exchange rates, excluding the divested Spring USA (September 2016) and the divested container gardening businesses in the U.S. (January 2016) and Europe (December 2016)
2) Items affecting comparability in EBITA include items such as restructuring costs, impairment or provisions charges and releases, integration related costs, and gain and loss from the sale of businesses
3) Operative earnings per share do not include net changes in the fair value of the investment portfolio and dividends received

  

Group key figures

      Q3 Q3   Q1‒Q3 Q1‒Q3    
EUR million     2017 2016 Change 2017 2016 Change 2016
Net sales 270.1 280.8 -3.8% 866.3 870.5 -0.5% 1,204.6
Comparable net sales1) 270.1 267.2 1.1% 864.6 846.2 2.2% 1,179.9
EBITA 30.5 23.4 30% 82.7 68.6 20% 96.7
Items affecting comparability in EBITA2) 1.3 -1.5   -0.9 -2.2   -10.4
Comparable EBITA 29.1 24.9 17% 83.5 70.8 18% 107.1
Operating profit (EBIT) 26.8 20.1 34% 72.1 58.6 23% 82.7
Net change in the fair value of investment portfolio 88.7 38.3   187.4 -22.3   6.1
Profit before taxes 123.3 55.9   271.5 37.1   92.8
Profit for the period 98.9 43.0   212.9 23.7   65.4
Operative earnings/share. EUR3) 0.25 0.15 71% 0.59 0.33 76% 0.56
Earnings/share. EUR 1.20 0.52   2.59 0.27   0.78
Equity per share. EUR       16.14 14.23 13% 14.91
Cash flow from operating activities before financial items and taxes 24.8 40.3 -38% 27.0 43.2 -38% 120.7
Equity ratio. %       69% 68%   69%
Net gearing. %       17% 18%   12%
Capital expenditure 8.6 9.6 -10% 23.4 28.0 -16% 37.6
Personnel (FTE). average 7,622 7,943 -4% 7,773 8,022 -3% 8,000

1) Using comparable exchange rates, excluding the divested Spring USA (September 2016) and the divested container gardening businesses in the U.S. (January 2016) and Europe (December 2016)
2) In Q3 2017, items affecting comparability consisted mainly of net cost related to the Alignment program, and reversal of provisions related to the Supply Chain 2017 program and sale of boats business. In Q3 2016, items included a gain from the divestment of Spring USA, provisions related to the divestment of the European container gardening business, costs related to the Supply Chain 2017 program and integration activities
3) Excluding net change in the fair value of the investment portfolio and dividends received. The comparison period has been restated to also exclude the exchange rate gains related to the investment portfolio 

 


FISKARS CORPORATION
 

Jaana Tuominen
President and CEO


Further information:

  • President and CEO Jaana Tuominen, tel. +358 204 39 5500
  • CFO Sari Pohjonen, tel. +358 204 39 5773
  • Corporate Communications, tel. +358 204 39 5031, communications@fiskars.com


Analyst and media conference
A presentation for analysts and media will be held on October 31, 2017 at 10:00 a.m. at the company’s headquarters, Fiskars Campus, Hämeentie 135 A, Helsinki. Presentation materials will be available at www.fiskarsgroup.com.

A conference call and live webcast for analysts and investors will be held on the same day at 11:30 a.m. (EET). The conference call will be held in English. To participate in the conference call please dial in 5-10 minutes prior to the start of the conference. Questions can be asked in English after the presentation.

International dial-in number: +44 (0)1452555566
Denmark: +45 32 727625
Finland: +358 9 23195187
France: +33 (0)176742428
Germany: +49 (0)6922224918
Norway: +47 21563013
Sweden: +46 (0)8 50336434
USA: +1 6315107498

Conference ID: 90742342

The presentation can be followed as a live webcast at: https://engage.vevent.com/rt/fiskars/index.jsp?seid=31

An on-demand version of the webcast will be available on the company website later the same day. Personal details gathered during the event will not be used for any other purpose.
 

Fiskars Making the everyday extraordinary
Fiskars serves consumers and customers around the world with globally recognized brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood. Building on our mission to create a family of iconic lifestyle brands, Fiskars’ vision is to create a positive, lasting impact on our quality of life. Please visit www.fiskarsgroup.com for more information.



ENG_Fiskars_2017Q3.pdf