Fiskars Corporation
Financial Statement Release
February 5, 2026 at 8:30 a.m. (EET)
Fiskars Corporation's Financial Statement Release 2025: Focus on cash flow
yielded results, comparable EBIT declined impacted by inventory actions
This release is a summary of Fiskars Corporation's Financial Statement
Release 2025 published today. The complete Financial Statement Release with
tables is attached to this release as a pdf-file. It is also available
at https://fiskarsgroup.com/investors/reports-and-presentations/annual-and
-interim-reports/ and on the Group's website at www.fiskarsgroup.com. Investors
should not rely on summaries of financial reports only, but should review the
complete reports with tables.
October-December 2025 in brief:
· Comparable net sales[1] increased by 1.3% to EUR 330.7 million (Q4 2024:
326.6). Reported net sales decreased by 1.9%.
· Comparable EBIT[2] decreased to EUR 32.8 million (42.9), or 9.9% (12.7%) of
net sales. EBIT decreased to EUR 25.4 million (30.9).
· Cash flow from operating activities before financial items and taxes
increased to EUR 98.5 million (88.8).
· Free cash flow increased to EUR 91.5 million (69.4).
· Comparable earnings per share were EUR 0.31 (0.57). Earnings per share (EPS)
were EUR 0.24 (0.45).
January-December 2025 in brief:
· Comparable net sales[1] remained stable at EUR 1,140.2 million (Q1-Q4 2024:
1,140.0). Reported net sales decreased by 1.5%.
· Comparable EBIT[2] decreased to EUR 76.4 million (111.4), or 6.7% (9.6%) of
net sales. EBIT increased to EUR 38.1 million (37.1).
· Cash flow from operating activities before financial items and taxes
decreased to EUR 128.2 million (145.4).
· Free cash flow decreased to EUR 76.3 million (81.7).
· Comparable earnings per share were EUR 0.48 (1.07). Earnings per share (EPS)
were EUR 0.12 (0.33).
1) Comparable net sales exclude the impact of exchange rates, acquisitions and
divestments.
2) Items affecting comparability in EBIT include items such as restructuring
costs, impairment or provisions charges and releases, acquisition-related costs,
and gains and losses from the sale of businesses. Comparable EBIT is not
adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals.
Proposal for the distribution of dividend
The Board of Directors proposes to the Annual General Meeting that a dividend of
EUR 0.84 per share shall be paid for the financial period that ended on December
31, 2025. The dividend shall be paid in four instalments of EUR 0.21 per share
each.
Guidance for 2026
Fiskars Corporation expects comparable EBIT to improve from the 2025 level
(2025: EUR 76.4 million).
Assumptions behind the guidance
Uncertainties in the global economy and geopolitical environment are expected to
continue and affect demand for Fiskars Group's products in 2026.
The improvement in the Group's comparable EBIT is expected to be primarily
driven by Business Area Vita, even as its continued actions to reduce elevated
inventories will carry some negative impact. Fiskars Group has announced planned
changes, which are expected to improve Vita's financial performance and result
in savings that support the Group's comparable EBIT improvement from the second
half of 2026 onwards.
The U.S. tariffs continue to impact particularly Business Area Fiskars. As the
increased U.S. tariffs were first introduced in April 2025, the first quarter of
2026 will still reflect incremental impacts. Business Area Fiskars is actively
working to mitigate tariff impacts as the situation continues to evolve.
President and CEO, Fiskars Group, Jyri Luomakoski:
“For Fiskars Group, 2025 was a year of introducing a way of operating based on
two fully accountable and operationally independent Business Areas. At the same
time, we navigated a dynamic market environment, characterized by continued
uncertainty.
In 2025, we delivered stable comparable net sales. After a volatile first half
of the year marked by heightened trade tariffs, we were able to catch up in net
sales in the important holiday season thanks to our teams' diligent work.
However, our full-year comparable EBIT declined markedly to EUR 76 million. The
most significant reason for the decline was our deliberate actions to tackle
Business Area Vita's elevated inventories. As we communicated in connection with
the third quarter results, and further in our profit warning in November,
Business Area Vita scaled down production, which impacts EBIT through negative
supply chain variance. Clearly, we are not satisfied with this profit
development and are implementing determined measures to strengthen our
performance this year.
Safeguarding cash flow was a priority for us, especially in the second half of
2025. Our actions to reduce elevated inventories started to yield results toward
the end of the year, driving fourth-quarter free cash flow to a strong EUR 92
million level and full-year cash flow to EUR 76 million. With net debt to
comparable EBITDA at 3.31, we are still above our target maximum level of 2.5X
and are continuing focused efforts to reduce leverage.
Looking at our Business Areas, Business Area Vita's comparable net sales
increased by 3% in 2025, with good development during the second half of the
year, the period most critical for Vita. Georg Jensen delivered particularly
good momentum throughout the year. Royal Copenhagen and Moomin Arabia also
performed well, leveraging the commercial opportunities offered by their 250th
and 80th anniversary years, respectively. Nevertheless, due to the necessary
inventory-related actions, Business Area Vita generated only EUR 28 million of
comparable EBIT in 2025, falling short of where it ought to be.
We announced today that Business Area Vita is planning changes to drive a
turnaround in its financial performance and lay foundations for profitable
growth. The planned changes include simplifying the organizational structure as
well as right-sizing capacity and streamlining operations at certain
manufacturing sites. These planned changes are expected to lead to a net
reduction of approximately 310 roles globally and to result in total annual cost
savings of approximately EUR 28 million. Close to one third of the total savings
is expected to realize in the second half of 2026, and the majority of the rest
of the savings in 2027.
Business Area Fiskars' year was largely impacted by the uncertainty stemming
from increased U.S. tariffs, which contributed to a 3% decrease in the Business
Area's comparable net sales in 2025. Business Area Fiskars' teams demonstrated
strong execution in mitigating tariff impacts and protecting profitability, with
comparable EBIT for the full year amounting to EUR 67 million. The Business Area
also actively advanced its innovation pipeline during the year, introducing two
entirely new product categories: Pet Care and Power Tools. Pet Care has been
available with selected retailers since November, and the initial reception has
been encouraging. The Power Tools category is set to reach stores early this
year. The Fiskars brand also renewed existing categories, for example, through
the launches of the new Ultra axe and the OneClick tools. These launches are
integral to staying relevant for consumers and have been very well received.
We continued to advance toward our sustainability targets. One of our key
sustainability KPIs is to generate a majority of sales from circular products
and services by 2030. At the end of 2025, we were at 27% and well on track to
reach our goal. Examples of this progress during the past year include Georg
Jensen's silver jewelry, which has been made with 100% recycled silver since the
beginning of 2025, and the sixth generation of Fiskars Classic scissors, which
are designed for longevity and manufactured using 92% recycled steel.
In recent years, we have transitioned from a centralized matrix structure toward
operationally independent Business Areas to improve flexibility and speed of
execution. We are now on the final leg of this process with the Business Areas
becoming separate legal subgroups under the holding company Fiskars Corporation.
This is advancing according to plan, and it is expected that the separation into
individual legal entities will be finalized by the end of the first quarter of
2026. This step also enables increasing transparency and measurability at the
Business Area level. We are planning to launch the next phase of the Group
strategy and new financial targets in connection with our Capital Markets Day,
scheduled for May 12, 2026.
In the year ahead, we are not anticipating an immediate turnaround in the demand
environment. We expect consumers to remain cautious in their spending as
uncertainties in the global economy and geopolitical environment persist. At the
same time, we are initiating measures to strengthen our profitability. With the
planned changes to improve Vita's financial performance, we expect the Group's
2026 comparable EBIT to improve from the 2025 level.
I would like to thank our employees for their resilience, and our customers and
partners for their commitment, during what was another dynamic year. We move
forward with determination to improve our performance.”
Group key figures
[][][][]
EUR million Q4 Q4 Change 2025 2024 Change
(unless otherwise 2025 2024
noted)
Net sales 330.7 337.2 -1.9% 1,140.2 1,157.1 -1.5%
Comparable net 330.7 326.6 1.3% 1,140.2 1,140.0 0.0%
sales[1)]
EBIT 25.4 30.9 -17.7% 38.1 37.1 2.6%
Items affecting 7.4 12.0 -38.5% 38.4 74.3 -48.4%
comparability in
EBIT[2)]
Comparable 32.8 42.9 -23.5% 76.4 111.4 -31.4%
EBIT[3)]
Comparable EBIT 9.9% 12.7% 6.7% 9.6%
margin
EBITDA 52.8 51.6 2.3% 122.2 119.6 2.2%
Comparable 55.0 63.1 -13.0% 155.3 193.5 -19.7%
EBITDA[4)]
Profit before 23.5 26.9 -12.7% 12.5 18.5 -32.3%
taxes
Profit for the 19.5 36.8 -47.0% 9.6 27.3 -65.1%
period
Earnings per 0.24 0.45 -46.9% 0.12 0.33 -65.6%
share, EUR
Comparable 0.31 0.57 -45.5% 0.48 1.07 -55.3%
earnings per
share, EUR
Cash earnings per 1.08 0.85 26.8% 1.25 1.39 -10.1%
share (CEPS),
EUR
Equity per share, 8.81 9.80 -10.1%
EUR
Cash flow from 98.5 88.8 10.9% 128.2 145.4 -11.8%
operating
activities before
financial items
and taxes
Free cash flow 91.5 69.4 31.8% 76.3 81.7 -6.6%
Free cash 197.3% 94.8%
flow/comparable
net
profit (LTM), %
Net debt 513.4 493.9 3.9%
Net 3.31 2.55 29.5%
debt/comparable
EBITDA (LTM),
ratio
Equity ratio, % 44% 47%
Net gearing, % 72% 62%
Capital 9.2 15.2 -39.4% 43.5 52.5 -17.2%
expenditure
Personnel (FTE), 6,098 6,364 -4.2% 6,145 6,446 -4.7%
average
1) Comparable net sales exclude the impact of exchange rates, acquisitions and
divestments.
2) In Q4 2025, items affecting comparability were mainly related to impairment
of trademarks.
3) EBIT excluding items affecting comparability. Comparable EBIT is not adjusted
to exclude the EBIT contribution of acquisitions/divestments/disposals.
4) EBITDA excluding items affecting comparability. Comparable EBITDA is not
adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals.
In addition to the financial performance indicators defined by the IFRS, Fiskars
Group publishes certain Alternative Performance Measures to better reflect the
operational business performance and to facilitate comparisons between financial
periods. Their calculation can be found on Fiskars Group's website in the
Investors section (Investors-> Financials-> Calculation of financial
indicators).
FISKARS CORPORATION
Jyri Luomakoski
President and CEO
Webcast
A results webcast will be held on February 5, 2026 at 11.00 a.m. (EET). It will
be held in English and can be followed at https://fiskars.events.inderes.com/q4
-2025.
Management presentation is followed by a Q&A session. Questions can be placed
through the webcast chat function or by phone. To ask questions by phone, the
participant is required to register at https://events.inderes.com/fiskars/q4
-2025/dial-in. After the registration you will receive the phone number and
conference ID to access the conference. If you wish to ask a question, please
press *5 on your telephone keypad to enter the queue.
Presentation materials will be available at www.fiskarsgroup.com.
An on-demand version of the webcast will be available on the Group's website.
Personal details gathered during the event will not be used for any other
purpose.
Further information:
Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192
Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven
brands for indoor and outdoor living. Since 1649, we have designed products of
timeless, purposeful, and functional beauty, while driving innovation and
sustainable growth. In 2025, Fiskars Group's global net sales were EUR 1.1
billion, and we had approximately 6,600 employees. We have two Business Areas
(BA), Vita and Fiskars.
BA Vita offers products in the high-end homeware segment as well as fine branded
jewelry. Its desirable brands include Georg Jensen, Royal Copenhagen, Wedgwood,
Moomin Arabia, Iittala and Waterford. In 2025, BA Vita's reported net sales were
EUR 613 million, and it had approximately 5,000 employees.
BA Fiskars offers functional innovations in the gardening and outdoor
categories, in addition to the scissors and creating, as well as cooking
categories. The brands include Fiskars and Gerber. In 2025, BA Fiskars' net
sales were EUR 522 million, and it had approximately 1,300 employees.
Read more: fiskarsgroup.com