Stock exchange release December 20, 2007
FISKARS CLARIFIES CORPORATE STRUCTURE
FISKARS CLARIFIES CORPORATE STRUCTURE As part of the significant structural changes Fiskars has done over the past four years, it continues to clarify its corporate structure. The operations have been streamlined and made more coherent through divestments and acquisitions, the most significant of which has been the acquisition of Iittala Group in August 2007. At the same time, the Corporation has closed down less profitable production capacity and increased outsourcing. From the beginning of 2008, Mr. Kari Kauniskangas takes over as new President and CEO of Fiskars Corporation. While branded consumer goods have clearly become the company's core business, there is also a desire to clarify other areas of the Corporation and find new ways of developing them. As part of this process, Fiskars Corporation has sold 8.5 million of its Wärtsilä A shares and 6.5 million Wärtsilä B shares to its wholly-owned Swedish subsidiary, Avlis AB. The shares sold to Avlis AB represent 15.6% of Wärtsilä stock and 29.7% of votes. Avlis AB is already the parent company of Iittala Group and Silva. The Fiskars consolidated ownership in Wärtsilä (16.5% of shares, 32.2% of votes) remains the same despite the sale of the shares, and the sale will not impact on Fiskars consolidated results for 2007. As before, a significant part of Fiskars net profit will be the Corporation's share of the Wärtsilä net profit. With these changes Fiskars corporate structure is clarified and each business division can be developed in the most appropriate way. The new structure will also help to react fast to the changes and opportunities during increased uncertainty on the world market. This change is also part of the transition from the previous holding company structure to a clearly operational company structure. The above changes are the first step towards an organizational restructuring that will be announced in the first quarter of 2008. Fiskars will publish its Financial Results for 2007 on February 14, 2008. The outlook remains unchanged since the January-September interim report, which was released on November 1, 2007. Kaj-Gustaf Bergh Chairman of the Board For further information: Kaj-Gustaf Bergh tel. +358 40 524 7730. Founded in 1649, Fiskars (www.fiskars.fi) is an international corporation which includes the subsidiaries Fiskars Brands, Iittala Group, Inha Works, and the Real Estate Group. Fiskars holdings in associated company Wärtsilä is also an important part of Fiskars Corporation. In 2006, the net sales of Fiskars Corporation was EUR 535 million, its operating profit EUR 86 million. The Corporation employed some 3,000 people around the world.