Fiskars Corporation
Interim report
October 22, 2026 at 8:30 a.m. (EEST)
Fiskars Corporation's Interim Report for January-September 2026: Fifth consecutive quarter of comparable net sales growth - comparable EBIT and free cash flow also improved
This release is a summary of the Fiskars Corporation's Interim Report for January-September 2026 published today. The complete Interim Report 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 company website at www.fiskarsgroup.com. Investors should not rely on summaries of financial reports only, but should review the complete reports with tables.
July-September 2026 in brief:
- Comparable net sales1 increased by 3.0% to EUR 268.7 million (Q3 2025: 261.0). Reported net sales increased by 3.6%.
- Comparable EBIT2 increased to EUR 20.2 million (13.9), or 7.5% (5.3%) of net sales.
- EBIT increased to EUR 16.5 million (12.0).
- Cash flow from operating activities before financial items and taxes increased to EUR 36.7 million (1.7).
- Free cash flow3 increased to EUR 14.4 million (-20.3).
- Comparable earnings per share were EUR 0.14 (0.08). Earnings per share were EUR 0.10 (0.07). Cash earnings per share were EUR 0.44 (0.00).
January-September 2026 in brief:
- Comparable net sales increased1 by 2.6% to EUR 812.5 million (Q1-Q3 2025: 791.7). Reported net sales remained stable, increasing by 0.4%.
- Comparable EBIT2 increased to EUR 52.9 million (43.6), or 6.5% (5.4%) of net sales.
- EBIT increased to EUR 37.3 million (12.6).
- Cash flow from operating activities before financial items and taxes increased to EUR 95.0 million (29.7).
- Free cash flow3 increased to EUR 33.7 million (-45.8). Cash conversion4 was 141.3% (16.5%).
- Comparable earnings per share were EUR 0.26 (0.17). Earnings per share were EUR 0.11 (-0.13). Cash earnings per share were EUR 0.99 (0.17).
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.
3) Calculation of free cash flow has been changed to include lease payments. Comparative periods have been restated accordingly.
4) Free cash flow / EBIT excl. IAC (LTM), based on unlevered FCF, LTM EBIT IFRS 16 adjusted.
Guidance for 2026 (unchanged)
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. Visibility in the market is limited.
The fourth quarter is typically an important quarter for the Group's comparable EBIT generation, particularly for Business Area Vita. The improvement in the Group's full-year comparable EBIT is expected to be primarily driven by Business Area Vita. Savings from Vita's previously announced turnaround measures are expected to continue to support its financial performance and the Group's comparable EBIT during the remainder of the year.
At the same time, Business Area Vita is continuing its actions to reduce elevated inventory levels. While these actions are expected to strengthen the company's position in the long term, they carry some negative impact on comparable EBIT through supply chain variance.
Some U.S. tariff refunds were received during the third quarter, and some further refunds will also fall into the fourth quarter, impacting primarily Business Area Fiskars. The fourth quarter is seasonally less substantial for Business Area Fiskars.
President and CEO, Fiskars Group, Jyri Luomakoski:
"In the third quarter, our comparable net sales increased by 3.0%, marking the fifth consecutive growth quarter for the Group. Notably, both Business Area Vita and Fiskars delivered sales growth during the quarter. Supported by volume growth, the Group's comparable EBIT increased to EUR 20.2 million. Furthermore, free cash flow turned positive and amounted to EUR 14.4 million, driven by a more favorable development in trade working capital compared with the previous year.
Business Area Vita's comparable net sales increased by 4.5% in the third quarter, with growth driven by multiple brands. Georg Jensen and several regional brands, in particular, continued to show strong momentum. Vita's comparable EBIT more than doubled to EUR 11.0 million, driven by sales volumes, and an improved gross margin and supported by savings from its turnaround actions announced earlier this year. At the same time, reducing the Business Area's elevated inventory levels remains a priority, although meaningful progress requires time.
In Business Area Fiskars, comparable net sales increased by 1.2%. The Fiskars brand continued to grow in the U.S., driven by distribution gains and strong sell-out. In Europe, sales development stabilized after the more challenging second quarter, supported by the Business Area's new product categories, Power Tools and Pet Care. Comparable EBIT increased by EUR 1.2 million to EUR 13.8 million. Volume growth and some U.S. tariff refunds received during the quarter contributed positively to the comparable EBIT development. At the same time, Business Area continued to invest in R&D to support new product development.
Both Business Areas continued to build on the strength of their brands with notable product launches during the quarter. For example, in Business Area Vita, Georg Jensen introduced Fold, a new home decor collection intended to evolve into a broader platform over time. In Business Area Fiskars, the Fiskars brand continued to expand its Power Tools offering, with the launch of the eSnow Shovel and a range of Power Hedge Trimmers, both compatible with standard global charging using USB-C.
During the quarter, we introduced new values for Fiskars Group: Passion for Design & Innovation, Ownership & Courage, Consumer & Customer, and Winning Together. While our two Business Areas operate independently with their own strategies and clear accountability, our shared values provide us a common foundation. They guide how we work, make decisions and interact with our colleagues, customers and other stakeholders.
The operating environment remains uncertain as we enter the important year-end season. We reiterate our guidance and expect the Group's comparable EBIT to improve from the 2025 level. The improvement is expected to be driven by savings from Business Area Vita's turnaround measures and our continued focus on brand desirability. Some U.S. tariff refunds were received during the third quarter, and some further refunds will also fall into the fourth quarter, impacting primarily Business Area Fiskars.
We still have work ahead of us, but thanks to our teams' dedicated work, I can clearly see the progress we are making, confirming that we are moving in the right direction."
Group key figures
| EUR million (unless otherwise noted) | Q3 2026 | Q3 2025 | Change | Q1-Q3 2026 | Q1-Q3 2025 | Change | 2025 |
| Net sales | 268.7 | 259.3 | 3.6% | 812.5 | 809.5 | 0.4% | 1,140.2 |
| Comparable net sales1 | 268.7 | 261.0 | 3.0% | 812.5 | 791.7 | 2.6% | 1,128.0 |
| Comparable gross profit | 131.3 | 121.1 | 8.4% | 385.1 | 380.6 | 1.2% | 537.4 |
| EBIT | 16.5 | 12.0 | 37.6% | 37.3 | 12.6 | 38.1 | |
| Items affecting comparability in EBIT2 | 3.7 | 1.9 | 95.2% | 15.6 | 31.0 | -49.6% | 38.4 |
| Comparable EBIT3 | 20.2 | 13.9 | 45.5% | 52.9 | 43.6 | 21.3% | 76.4 |
| Comparable EBIT margin, % | 7.5% | 5.3% | 6.5% | 5.4% | 6.7% | ||
| EBITDA | 35.5 | 30.6 | 15.8% | 96.1 | 69.4 | 38.5% | 122.2 |
| Comparable EBITDA4 | 38.6 | 32.5 | 18.5% | 109.2 | 100.4 | 8.8% | 155.3 |
| Profit before taxes | 10.9 | 8.2 | 33.4% | 12.3 | -11.0 | 12.5 | |
| Profit for the period | 8.5 | 5.3 | 59.4% | 9.2 | -9.9 | 9.6 | |
| Earnings per share, EUR | 0.10 | 0.07 | 59.5% | 0.11 | -0.13 | 0.12 | |
| Comparable earnings per share, EUR | 0.14 | 0.08 | 66.1% | 0.26 | 0.17 | 51.1% | 0.48 |
| Cash earnings per share (CEPS), EUR | 0.44 | 0.00 | 0.99 | 0.17 | 1.25 | ||
| Equity per share, EUR | 8.13 | 8.55 | -4.9% | 8.81 | |||
| Cash flow from operating activities before financial items and taxes | 36.7 | 1.7 | 95.0 | 29.7 | 128.2 | ||
| Free cash flow5 | 14.4 | -20.3 | 33.7 | -45.8 | 35.5 | ||
| Cash conversion, %6 | 141.3% | 16.5% | 49.8% | ||||
| Net debt | 551.8 | 605.6 | -8.9% | 513.4 | |||
| Net debt/comparable EBITDA (LTM), ratio | 3.36 | 3.70 | -9.2% | 3.31 | |||
| Equity ratio, % | 41% | 42% | 44% | ||||
| Net gearing, % | 84% | 87% | 72% | ||||
| Capital expenditure | 10.1 | 10.2 | -0.6% | 22.3 | 34.2 | -34.9% | 43.5 |
| Personnel (FTE), average | 5,953 | 6,150 | -3.2% | 5,981 | 6,161 | -2.9% | 6,145 |
1) Comparable net sales exclude the impact of exchange rates, acquisitions and divestments.
2) In Q3 2026, items affecting comparability were mainly related to BA Vita's turnaround actions.
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.
5) Calculation of free cash flow has been changed to include lease payments. Comparative periods have been restated accordingly.
6) Free cash flow / EBIT excl. IAC (LTM), based on unlevered FCF, LTM EBIT IFRS 16 adjusted.
In addition to the financial performance indicators defined by IFRS, Fiskars Group publishes certain Alternative Performance Measures to better reflect the operational business performance and to facilitate comparisons between financial periods. A calculation of these 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 October 22, 2026 at 11.00 a.m. (EEST). It will be held in English and can be followed at https://fiskars.events.inderes.com/q3-2026.
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/q3-2026/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
