CEO's review Q3 2026

“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.”

JYRI LUOMAKOSKI

President & CEO