Finland · Delayed Price · Currency is EUR Fiskars Oyj Abp Earnings Call Transcripts
Fiscal Year 2026
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Fourth consecutive growth quarter with 3% higher net sales and improved EBIT, led by Vita. Strong cash flow and strict CapEx management supported deleveraging, while restructuring in Vita is expected to drive further EBIT gains in H2.
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New financial targets for 2026–2030 set BA-specific growth and profitability ambitions, with Vita targeting a turnaround through brand focus and cost savings, and Fiskars BA leveraging innovation and operational efficiency. Group priorities include cash flow improvement, deleveraging, and transparent reporting.
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Comparable net sales and free cash flow increased, but reported EBIT declined due to FX impacts. BA Vita saw sales growth but lower margins from inventory actions, while BA Fiskars improved profitability through operational efficiency. Guidance for EBIT improvement remains unchanged.
Fiscal Year 2025
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Vita returned to growth, driving group topline stabilization, while EBIT declined due to production curtailment and tariffs. A major restructuring in Vita targets €28 million in annual savings, with one-off costs of €9 million. Dividend remains stable at €0.84 per share, paid quarterly.
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Business Area Fiskars is leveraging a lean, asset-light structure and increased transparency to drive profitable growth through innovation, expanded retail presence, and strong brand positioning. Despite ongoing tariff headwinds, robust cost control and supply chain agility support resilience. Sustainability and employee engagement are central to the strategy.
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Net sales grew 4.1% in Q3, led by Vita's 8% increase and strong U.S. performance, but EBITDA declined due to supply chain costs and inventory actions. Guidance was narrowed, with expectations toward the lower end, and deleveraging remains a key focus amid ongoing tariff and inventory challenges.
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Q2 saw a 6.8% sales decline and a sharp EBIT drop, mainly due to U.S. weakness and tariffs. Guidance for full-year EBIT remains at EUR 90–110 million, with H2 expected to improve as mitigation actions take effect and seasonal factors support performance.
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Vita is advancing a brand-first, portfolio-driven strategy with operational independence, focusing on reigniting growth through category expansion, D2C, and geographic initiatives. Creative direction, sustainability, and digital engagement are central, while capital allocation prioritizes scalable brands.
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Q1 saw a return to growth and improved EBIT, with strong D2C performance and operational progress on business area separation. Despite US tariff headwinds, guidance for 2025 remains unchanged, supported by mitigation actions and gross margin resilience.
Fiscal Year 2024
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Q4 2024 delivered record EBIT and gross margin, with strong cost savings and robust cash flow. Despite weak demand, EBIT guidance for 2025 is positive, supported by continued margin improvements, investments in growth, and a proposed dividend increase.
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Q3 saw improved profitability and record gross margin despite lower volumes and market headwinds. The Brands First strategy was completed, splitting operations into two independent companies, and cost savings and synergies from Georg Jensen are progressing as planned.
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All-time high gross margin and free cash flow were achieved in Q2, offsetting volume declines amid challenging macro conditions. Georg Jensen integration is nearly complete and accretive, with cost efficiencies and premiumization driving performance as full-year EBIT is expected to slightly exceed last year.