Finland · Delayed Price · Currency is EUR Fiskars Oyj Abp Earnings Call Transcripts
Fiscal Year 2026
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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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Fiskars BA is executing a focused growth strategy built on innovation, operational efficiency, and strong retail partnerships, while maintaining robust profitability despite tariff headwinds. The business leverages its heritage, design, and sustainability leadership to expand in core and adjacent categories, with a clear emphasis on profitable growth and capital discipline.
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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, high-end homeware strategy with operational independence, focusing on reigniting growth through direct-to-consumer channels, category and geographic expansion, and creative brand management. Improved gross margins and sustainability leadership support ambitions to grow market share and brand desirability.
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Q1 saw a return to growth and improved EBIT, with strong direct-to-consumer performance and operational progress on business area separation. Despite US tariff headwinds and weak China demand, guidance for 2025 remains for improved EBIT, supported by cost actions and sourcing diversification.
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.