Fiskars Corporation
Inside information
June 12, 2025 at 7:10 p.m. EEST
Inside information, profit warning: Fiskars Corporation lowers its guidance for 2025
Fiskars Corporation lowers its guidance for 2025 as a result of a rapid decline in demand in the United States in the second quarter of 2025. The company now expects comparable EBIT* in 2025 to be in the range of EUR 90-110 million. Previously the company expected comparable EBIT to improve from the 2024 level (2024: EUR 111.4 million).
Rationale for updating the guidance
The indirect impacts from U.S. import tariffs on retailer demand and their inventory control have affected sales in the country more rapidly and negatively than previously anticipated. The U.S. represents approximately 30% of Fiskars Group's net sales and approximately 50% of Business Area Fiskars' net sales, the majority of which is based on sourcing from Asia. Although most pronounced in the U.S. and with Business Area Fiskars, the indirect impacts have begun to materialize in Europe and with Business Area Vita as well.
As previously communicated, the Group expects that its actions can over time largely mitigate adverse direct impacts of tariffs related to increasing sourcing and logistics costs. However, the benefits of these mitigation efforts are expected to materialize with a delay as Fiskars Group has prioritized maintaining its market share and securing cash flow.
Visibility in the market remains exceptionally limited, and the situation is continuously evolving. Fiskars Group continues to take proactive measures to mitigate cost pressures and preserve long-term margin resilience, including ongoing productivity initiatives and pricing adjustments, which typically have a contractual lead time. Once the tariff environment stabilizes, Fiskars Group continues measures to rebase some of its sourcing to optimize its supply chain in the long term.
New guidance for 2025:
Fiskars Corporation expects comparable EBIT to be in the range of EUR 90-110 million (2024: EUR 111.4 million).
Previous guidance for 2025:
Fiskars Corporation expects comparable EBIT to improve from the 2024 level (2024: EUR 111.4 million).
* EBIT excluding items affecting comparability. 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.
FISKARS CORPORATION
Jyri Luomakoski
Interim President & CEO
Further information:
Jussi Siitonen, CFO, tel. +358 204 3910
Noora Huttula, Investor Relations Manager, tel. +358 40 528 0806
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 2024, Fiskars Group's global net sales were EUR 1.2 billion and we had close to 7,000 employees. We have two Business Areas (BA), Vita and Fiskars.
BA Vita offers premium and luxury products for the tableware, drinkware, jewelry and interior categories. Its well-known brands include Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2024, BA Vita's reported net sales were EUR 605 million. Already 50% of BA Vita's net sales comes from direct-to-consumer sales, comprising approximately 500 stores and approximately 60 e-commerce sites.
BA Fiskars consists of the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories. The brands include Fiskars and Gerber. In 2024, BA Fiskars' net sales were EUR 547 million.
Read more: fiskarsgroup.com
