Fiskars’ Interim Report January – March 2009

FISKARS' OPERATING PROFIT AND CASH FLOW IMPROVED IN Q1 2009

First quarter 2009 highlights:

- Net sales decreased 4% to EUR 167.1 million (174.7) 
- Operating profit increased to EUR 8.6 million (5.0, includes non-
  recurring costs of EUR 1.7 m)
- Profit after share of profit from associated company and change in 
  the fair value of standing timber was EUR 23.6 (13.7)
- Earnings per share were EUR 0.22 (0.12)
- Cash flow from operating activities was EUR 15.2 million (-33.9)
- Outlook for 2009 unchanged: Full-year net sales are expected to be 
  below the 2008 sales. Operating profit excluding non-recurring items 
  is expected to be lower than in 2008. 

Fiskars President and CEO, Kari Kauniskangas on the first quarter results:

"The challenging market situation and weak consumer confidence resulted 
in reduced net sales in the first quarter of 2009. Actions taken in 
2008 to reduce Fiskars' fixed cost base impacted our operating profit, 
which developed positively. 

We saw a strong growth in operating profit in the Americas segment, 
which was driven by a lower fixed cost base. Strong top line 
performance in Outdoor also contributed to the profit improvement seen 
in the Americas. 
 
The market is likely to remain uncertain in 2009, and our outlook for 
the full-year 2009 remains unchanged."


GROUP KEY FIGURES

EUR million                        Q1 2009    Q1 2008   Change, %   1-12 2008
Net sales                            167.1     174.7          -4%       697.0
Operating profit (EBIT)                8.6       5.0          73%         6.0
Share of profit from associated 
company                               15.2      13.6          12%        70.5
Change in the fair value of 
standing timber                       -0.3      -4.9          95%        -5.6
Profit before taxes                   18.3       8.4         117%        51.5
Profit for the period                 17.0       9.4          80%        49.2
Earnings per share, EUR               0.22      0.12          80%        0.64
Equity per share, EUR                 5.52      5.48           1%        5.77
Cash flow from operating activities   15.2     -33.9                     97.0
Equity ratio, %                        43%       39%                      46%
Net gearing, %                         79%       84%                      69%


Further information: 
President and CEO Kari Kauniskangas, tel. +358 9 6188 6222
CFO Teemu Kangas-Kärki, tel. +358 9 6188 6231


FISKARS INTERIM REPORT JANUARY - MARCH 2009 
(IFRS, unaudited)

Fiskars' operating segment and business area structure was changed as 
of January 1, 2009. The comparison figures for 2008 have been restated 
according to this new structure and published separately in April 2009.

Under its new reporting structure, Fiskars has also changed its 
definition of operating profit (EBIT). Fiskars will present its share 
of the profit of associated company Wärtsilä and the change in the fair 
value of its biological assets (i.e. standing timber) as separate lines 
below EBIT in the income statement.

GROUP FINANCIALS
Fiskars' consolidated net sales in the first quarter of 2009 decreased 
by 4% to EUR 167.1 million (Q1 2008: 174.7 million). At comparable 
currency rates, the Group's sales decreased by 5%. 

The Group's operating profit increased by 73% to EUR 8.6 million (5.0, 
includes non-recurring costs of EUR 1.7 million). 

In the first quarter, Fiskars' share of profit from associated company 
Wärtsilä was EUR 15.2 million (13.6), and the change in the fair value 
of standing timber was EUR -0.3 million (-4.9). From the beginning of 
2009 onwards, these items will not be included in the operating profit.

Net financial costs were EUR 5.3 million (5.2). Profit before 
taxes was EUR 18.3 million (8.4). The profit for the first quarter 
was EUR 17.0 million (9.4), and earnings per share were EUR 0.22 
(0.12).

OPERATING SEGMENTS AND BUSINESS AREAS
Fiskars' operating segments are EMEA (Europe, Middle East, and Asia-
Pacific), Americas, Wärtsilä (associated company), and Other. The Inha 
Works business, which mainly consists of boat production, has been 
moved from Other to EMEA. 

The business areas are Home, Garden, and Outdoor. The Home business 
area includes Homeware as well as School, Office, and Craft (SOC). Inha 
Works has been included in the Outdoor business area. Other covers Real 
Estate and corporate headquarter functions.


EUR million                     Q1 2009   Q1 2008     Change, %   1-12 2008
KEY OPERATING SEGMENTS
EMEA net sales                      111.3     127.3        -13%       491.3
EMEA operating profit                 4.8       4.3         10%      21.7 *
Americas net sales                   58.6      51.8         13%       216.5
Americas operating profit             6.5       2.1        215%     -4.0 **

KEY BUSINESS AREAS
Home net sales                       64.0      67.2         -5%       316.8
Garden net sales                     68.6      71.1         -4%       231.2
Outdoor net sales                    33.5      35.1         -4%       145.2

*) Includes non-recurring costs of EUR 9.3 million
**) Includes non-recurring costs of EUR 19.5 million
In addition, Other includes EUR 6.1 million non-recurring costs.


EMEA
Net sales in EMEA decreased 13% to EUR 111.3 million (127.3), and were 
affected by the weak British pound and Swedish krona in particular. At 
comparable currency rates, the sales were 9% down. The operating profit 
was EUR 4.8 million (4.3, includes EUR 1.7 million non-recurring 
costs). 

Net sales of the Home business area were slightly down in a challenging 
market, although sales to retailers developed well in Finland. Profit 
improvements came from lower fixed costs mainly in production. The 
comparative figures for the first quarter in 2008 include non-recurring 
costs related to reorganization and the closure of factories in 
Höganäs, Sweden and Moss, Norway. 

The market for garden and construction tools has slowed in all major 
European countries, and retailers are cutting their inventories. The 
decline in sales volumes impacted the operating profit of the Garden 
EMEA business.

Outdoor sales volumes declined, especially in the area of gift sales in 
Sweden. Demand for boats continued to be weak during the quarter. 
International sales outside Finland, in particular, declined 
significantly compared to the first quarter of 2008. The performance of 
the boat business was unsatisfactory.

Redundancies and temporary lay-offs took place in several units across 
the EMEA organization during the quarter. 

AMERICAS
Net sales in the Americas increased 13% to EUR 58.6 million (51.8). In 
USD terms, sales decreased 2% to USD 76.4 million (78.0). The operating 
profit was EUR 6.5 million (2.1). 

The Garden sales were in USD terms at last year's level. Sales of 
School, Office, and Craft (SOC) products remained challenging, and 
sales were clearly down during the quarter. Reorganization measures 
taken in 2008 have reduced fixed costs, however, and resulted in an 
improvement in operating profit. 

Net sales in Outdoor Americas were up over 10% in USD terms, mostly 
thanks to strong institutional sales. Operating profit increased due to 
higher sales volumes. 

OTHER
Fiskars' Other segment covers the Real Estate Unit and corporate 
headquarter functions. Net sales for Real Estate were EUR 1.7 million 
(1.6) in the first quarter. The operating profit was EUR 0.5 million 
(0.6). 

WÄRTSILÄ
Fiskars owns 17.1% of the shares and votes of its associated company 
Wärtsilä Corporation. In the first quarter, Fiskars' share of 
Wärtsilä's profit totaled EUR 15.2 million (13.6). 

Wärtsilä's Annual General Meeting was held on March 11, 2009. The 
Chairman of the Board of Fiskars, Mr. Kaj-Gustaf Bergh, and Fiskars' 
President and CEO, Mr. Kari Kauniskangas, were re-elected to the 
Wärtsilä Board of Directors. 

The Annual General Meeting decided on paying a dividend of EUR 1.50 per 
share (EUR 4.25 in 2008) which gave Fiskars dividend revenue of EUR 
25.3 million (67.2, paid in Q2 2008). 

The market value of Fiskars' Wärtsilä shares was EUR 267.7 million at 
the end of the review period (720.2), with a share price EUR 15.89 per 
share. The book value was EUR 254 million (226).

FINANCING
Cash flow from operating activities was EUR 15.2 million (-33.9) in the 
first quarter, and includes dividends paid by associated company 
Wärtsilä totaling EUR 25.3 million. In 2008, a dividend totaling EUR 
67.2 million was paid during the second quarter of the year. Cash flow 
from investing activities was EUR -3.9 million (-6.3) and cash flow 
after investing activities was EUR 11.3 million (-40.1). 

Fiskars' net working capital was EUR 175.3 million (196.9) at the end 
of March. The equity ratio was 43% (39%) and net gearing 79% (84%). 

Cash and deposits at the end of the period were EUR 17.3 million 
(43.1). Net interest-bearing debt amounted to EUR 337.4 million (355.7 
million), which was EUR 27.5 million higher compared to the 2008 year-
end figure. Short-term borrowings totaled EUR 215.6 million (237.8) and 
long-term borrowings EUR 140.4 million (160.9). Short-term borrowings 
are mainly commercial papers issued by Fiskars Corporation. 

In addition, Fiskars had EUR 386.6 million (443.7) in unused, binding 
long-term credit facilities, mainly with major Nordic banks. The 
financial market crisis has not significantly affected the Group's 
financing. 

CAPITAL EXPENDITURE
Capital expenditure during the quarter was EUR 4.0 million (5.9). The 
largest investments were replacements of machinery in Garden production 
facilities in EMEA. 

PERSONNEL
The Group employed 4,016 people (4,341) as of the end of the March: 
3,145 (3,400) people in EMEA, 816 (901) in the Americas, and 55 (40) in 
Other. 

CHANGES IN MANAGEMENT
Mr. Juha Lehtola was appointed President, Boats, and Managing Director 
of Inha Works Ltd. in March 2009. He reports to Fiskars President and 
CEO Kari Kauniskangas. 

CORPORATE GOVERNANCE
Fiskars complies with the Finnish Corporate Governance Code issued by 
the Securities Market Association, which came into force on January 1, 
2009.

Fiskars also complies with the insider regulations of NASDAQ OMX 
Helsinki adopted on June 2, 2008, and internal insider guidelines 
adopted on August 5, 2008.

ANNUAL GENERAL MEETING 2009
The Annual General Meeting of Shareholders (AGM) was held on March 16, 
2009. The AGM approved the financial statements for 2008, and 
discharged the members of the Board and the President and CEO from 
liability. It was decided to pay a dividend of EUR 0.50 per share for 
Series A shares and EUR 0.48 per share for Series K shares, totaling 
EUR 61,466,826.24. The dividend was paid on March 26, 2009. 

The number of Board members was decided to be nine. Mr. Kaj-Gustaf 
Bergh, Mr. Ralf Böer, Mr. Alexander Ehrnrooth, Mr. Paul Ehrnrooth, Ms. 
Ilona Ervasti-Vaintola, Mr. Gustaf Gripenberg, Mr. Karl Grotenfelt, Mr. 
Karsten Slotte, and Mr. Jukka Suominen were re-elected as members. The 
term of Board members will expire at the end of the Annual General 
Meeting in 2010.

KPMG Oy Ab was elected auditor, and they nominated Authorized Public 
Accountant Mr. Mauri Palvi as responsible auditor. 

The Annual General Meeting decided to authorize the Board to acquire 
and/or convey Fiskars' own shares, provided that the number of shares 
in question is no more than 2,700,000 of Series A and no more than 
1,100,000 of Series K shares. The Board may decide on the conveyance of 
the shares otherwise than in proportion to the shareholders' pre-
emptive subscription rights. Both authorizations will remain in force 
until the end of the next Annual General Meeting.

CONSTITUTIVE MEETING OF THE BOARD
Convening after the Annual General Meeting, the Board of Directors 
elected Kaj-Gustaf Bergh as Chairman, and Alexander Ehrnrooth and Paul 
Ehrnrooth as Vice Chairmen. 

The Board appointed Gustaf Gripenberg chairman of the Audit Committee, 
and Ilona Ervasti-Vaintola, Alexander Ehrnrooth, Paul Ehrnrooth, and 
Karsten Slotte as members. The Board appointed Kaj-Gustaf Bergh 
chairman of the Compensation Committee, and Ralf Böer, Karl Grotenfelt, 
and Jukka Suominen as members. The Board appointed Kaj-Gustaf Bergh 
chairman of the Nomination Committee, and Alexander Ehrnrooth and Paul 
Ehrnrooth as members.

SHARE AND SHAREHOLDERS
Fiskars Corporation has two series of shares. Series A shares carry one 
vote per share, and Series K shares carry 20 votes per share. The 
dividend per share paid out on Series A shares shall, according to the 
Articles of Association, be a minimum of two (2) percentage points 
higher than the dividend paid out on Series K share.

The share capital and the number of shares were unchanged during the 
first quarter. Fiskars had a total of 54,944,492 Series A shares (71% 
of shares and 11% of votes) and 22,565,708 Series K shares (29% and 89% 
respectively), in total 77,510,200 shares and 506,258,652 votes as of 
the end of March. The company owned treasury shares of 112,115 Series A 
shares and 420 Series K shares, corresponding to 0.15% of the 
Corporation's shares and 0.02% of votes. The book counter-value for 
both series of shares is EUR 1.00. The share capital was EUR 
77,510,200. 

Both series of shares are traded in the Large Cap segment of NASDAQ OMX 
Helsinki Ltd. At the end of March, the price of one Fiskars Series A 
share was EUR 6.65 (12.50) and the price of one Series K share was EUR 
10.23 (14.00). The market value of Fiskars was EUR 596 million, 
excluding treasury shares, as of the end of the quarter. The number of 
shares traded during the quarter was 0.5 million (1.5).  

The total number of shareholders was 10,327 as of the end of March. 
Fiskars was not informed of any significant change among its largest 
shareholders during the quarter.

RISKS AND BUSINESS UNCERTAINTIES 
The downturn in the economy has increased uncertainties that may affect 
Fiskars' net sales and financial performance in 2009.

The principal uncertainties are related to:
- General market conditions and a potential further decline in consumer 
  demand in Fiskars' significant market areas in Europe and North America
- Loss of or reduced sales of major retail customers, retailers' 
  financial difficulties and disruptions in the activities of a 
  specialized distribution channel 
- Availability of products due to supply chain issues
- Unexpected weather conditions in the Garden business area and seasonal 
  variations, especially in the Home business area which is heavily 
  geared towards the end of the year
- Sudden fluctuations in raw material and energy prices; the most 
  important raw materials being steel, aluminum, and plastic
- Major changes in profitability or ability to pay a dividend of the 
  associated company Wärtsilä.

Risks and how Fiskars manages them are described in more detail in 
Fiskars' Annual Report for 2008 (see Pages 28 and 72 - 73).

EVENTS AFTER THE REVIEW PERIOD
The Board of Directors proposed on April 15, 2009 to the Extraordinary 
General Meeting, to be convened on June 5, 2009, that Fiskars' series A 
and K shares be combined and that Agrofin Oy Ab, the largest single 
shareholder of Fiskars, be merged into Fiskars. Following the 
combination of the share series, Fiskars would have only one new single 
class of shares. All shares would carry one vote each and would have 
equal rights.

The combination of the share series involves a directed free share 
issue for holders of K series shares so that they would receive one 
share free of charge for each five series K shares. In this way holders 
of five K series shares would hold six of the company's new single 
class shares and holders of one A series share would hold one new 
single class share, following the combination of the share series.

The objective of the proposed combination of the share series and the 
merger is to increase the liquidity of the shares as well as to 
increase transparency and simplify the ownership structure. 

Shareholders representing more than half of the company's A series 
shares and shareholders representing more than two-thirds of the 
company's K series shares have in advance announced in writing that 
they support the combination of share series and the merger.

The merger plan between Fiskars and Agrofin was signed on April 15, 
2009. The notice to the Extraordinary General Meeting was published on 
April 20, and the Meeting will be held on June 5 in Helsinki, Finland.

Fiskars has been informed that the proposal, when completed, would lead 
to the following changes in Fiskars' holdings: the voting rights of 
Virala Oy Ab would fall below the 3/20 (15%) threshold, holdings of 
Elsa Fromond together with the company Holdix Oy Ab in which she has a 
controlling interest, would exceed the 1/10 (10%) threshold, and the 
voting rights of Oy Julius Tallberg Ab would fall below the 1/20 (5%) 
threshold.

OUTLOOK FOR 2009
The market situation is expected to remain uncertain in 2009, and both 
the North American and European markets are likely to continue facing 
severe challenges. Consumer demand is expected to be weaker than in 
2008, and this will have an impact on Fiskars' net sales.

The Corporation has restructured its organization and is reducing its 
cost base to meet projected consumer demand in 2009 and ensure Fiskars' 
competitiveness. A clear business focus on specialized business areas 
and brands, together with new product development will continue to be 
key success factors in a challenging market environment.

Fiskars' outlook for 2009 remains unchanged: full-year net sales in 
2009 are expected to be below the 2008 sales. Operating profit 
excluding non-recurring items is expected to be lower than in 2008. 

Associated company Wärtsilä will continue to have a major impact on 
Fiskars' profit and cash flow in 2009.


Sorsakoski, Finland, May 5, 2009

Fiskars Corporation
Board of Directors



CONSOLIDATED INCOME STATEMENT      1-3    1-3 change   1-12
                                  2009   2008      %   2008
                                  MEUR   MEUR          MEUR

NET SALES                        167.1  174.7     -4  697.0

Cost of goods sold              -111.9 -119.2     -6 -483.5
GROSS PROFIT                      55.3   55.5      0  213.5

Other operating income             0.7    0.5     46    2.9
Sales and marketing expenses     -29.9  -33.3    -10 -129.8
Administration expenses          -15.3  -15.4     -1  -54.4
Research and development costs    -2.1   -2.0      0   -8.4
Other operating expenses          -0.1   -0.3    -69  -17.8
OPERATING PROFIT (EBIT)            8.6    5.0     73    6.0

Change in fair value of
biological assets                 -0.3   -4.9    -95   -5.6
Income from associate             15.2   13.6     12   70.5
Other financial income
and expenses                      -5.3   -5.2      5  -19.4
PROFIT BEFORE TAXES               18.3    8.4    117   51.5

Income taxes                      -1.3    1.0      0   -2.3
PROFIT FOR THE PERIOD             17.0    9.4     80   49.2

Attributable to:
Owners of the Company             17.0    9.4     80   49.3
Non-controlling interest           0.0    0.0          -0.1
                                  17.0    9.4          49.2

Earnings for Equity holders of the Company
per share, euro (basic)           0.22   0.12          0.64

Earnings per share (diluted)      0.22   0.12          0.64


OTHER COMPREHENSIVE INCOME                       1-3    1-3   1-12
                                                2009   2008   2008
                                                MEUR   MEUR   MEUR

Profit for the period                           17.0    9.4   49.2

Translation differences                          3.9   -6.9   -1.9
Associated companies' other
comprehensive income                             0.2    2.0  -18.1
Equity net investment hedges
after tax                                       -1.5    2.7    0.7
Defined benefit plan, actuarial
gains (losses), net of tax                      -0.5   -0.1   -0.2
Other changes                                    0.0    0.1    0.2

Other comprehensive income
for the period, net of tax, in total             2.1   -2.1  -19.3

Total comprehensive income
for the period                                  19.1    7.4   29.9

Attributable to:
Owners of the Company                           19.1    7.4   30.0
Non-controlling interest                         0.0    0.0   -0.1
                                                19.1    7.4   29.9


CONSOLIDATED BALANCE SHEET                    3/2009 3/2008 change12/2008
                                                MEUR   MEUR      %   MEUR
ASSETS

NON-CURRENT ASSETS
Intangible assets                              130.4  134.2     -3  131.0
Goodwill                                        99.5   99.1      0   99.2
Property, plant & equipment                    111.6  118.7     -6  113.2
Biological assets                               39.0   40.0     -2   39.3
Investment property                              7.8    8.1     -3    7.7
Investments in associates                      253.7  226.0     12  263.5
Financial assets
 Shares at fair value through profit and loss    3.1    3.0      3    2.9
 Other investments                               2.2    2.6    -16    2.2
Deferred tax assets                             22.5   22.9     -2   21.7
NON-CURRENT ASSETS TOTAL                       669.8  654.7      2  680.6

CURRENT ASSETS TOTAL
Inventories                                    161.8  177.0     -9  159.8
Trade and other receivables                    131.0  211.6    -38  109.6
Income tax receivables                           5.2    6.1    -14    8.4
Cash and cash equivalents                       17.3   43.1    -60   11.3
CURRENT ASSETS TOTAL                           315.4  437.8    -28  289.0

ASSETS TOTAL                                   985.2 1092.5    -10  969.7

EQUITY AND LIABILITIES

Equity attributable to the
Owners of the Company                          427.6  423.7      1  446.7
Non-controlling interest                        -0.1    0.5           0.0
EQUITY TOTAL                                   427.6  424.2      1  446.7

NON-CURRENT LIABILITIES
Interest bearing debt                          140.4  160.9    -13  137.5
Other liabilities                                1.4    5.0    -72    1.4
Deferred tax liabilities                        48.5   50.4     -4   49.3
Pension liability                                9.7    8.8     10    9.2
Provisions                                      13.2    7.0     89   13.4
NON-CURRENT LIABILITIES TOTAL                  213.3  232.1     -8  210.8

CURRENT LIABILITIES
Interest bearing debt                          215.6  237.8     -9  183.7
Trade and other payables                       122.1  193.1    -37  121.9
Income tax payable                               6.6    5.2     27    6.6
CURRENT LIABILITIES TOTAL                      344.3  436.0    -21  312.2

EQUITY AND LIABILITIES TOTAL                   985.2 1092.5    -10  969.7


CONSOLIDATED STATEMENT                           1-3    1-3   1-12
OF CASH FLOWS                                   2009   2008   2008
                                                MEUR   MEUR   MEUR
CASH FLOW FROM OPERATING ACTIVITIES
Net profit before taxes                         18.3    8.4   51.5
Adjustments for
  Depreciation                                   6.8    6.6   32.9
  Share of profit from associate               -15.2  -13.6  -70.5
  Investment income                              0.0    0.1   -1.0
  Interest expense                               5.3    5.2   20.4
  Change in value of biological assets           0.3    4.9    5.6
  Other non-cash items                          -0.3    0.1    0.0
Cash flow before changes in working capital     15.1   11.7   39.0

Changes in working capital
  Change in current assets,
  non-interest bearing                         -25.0  -27.6   10.9
  Change in inventories                          0.4   -7.5   10.6
  Change in current liabilities,
  non-interest bearing                           1.8   -3.1   -7.5
Cash flow from operating activities
before financial items and taxes                -7.6  -26.6   53.0

Dividends from associate                        25.3    0.0   67.2
Financial costs paid (net)                      -4.6   -5.0  -18.0
Taxes paid                                       2.2   -2.2   -5.2
CASH FLOW FROM OPERATING ACTIVITIES (A)         15.2  -33.9   97.0

CASH FLOW FROM INVESTING ACTIVITIES
Acquisitions                                     0.0    0.0   -3.1
Capital expedinture on fixed assets             -4.0   -5.9  -25.4
Proceeds from sale of fixed assets               0.1    0.4    4.1
Cash flow from other investments                 0.0   -0.8   -1.4
CASH FLOW FROM INVESTING ACTIVITIES (B)         -3.9   -6.3  -25.8

CASH FLOW FROM FINANCING ACTIVITIES
Sell of treasury shares                          0.0    0.1    0.2
Borrowings of non-current debt                  40.0   37.5   62.2
Repayment of non-current debt                  -15.7    0.0   -0.1
Change in current debt                          10.1   11.8  -85.6
Payment of financial leases liabilities         -0.6    1.8   -3.4
Cash flow from other financing items            -0.9   -1.4   -3.5
Dividends paid                                 -38.2    0.0  -61.5
CASH FLOW FROM FINANCING ACTIVITIES (C)         -5.4   49.7  -91.7

CHANGE IN CASH (A+B+C)                           5.9    9.5  -20.5

Cash at beginning of period                     11.3   34.5   34.5
Translation difference                           0.1   -0.9   -2.8
Cash at end of period                           17.3   43.1   11.3


STATEMENT OF CHANGES IN        Equity attributable to the  Non-con  Total
CONSOLIDATED EQUITY            owners of the company:      rolling
                                        Trea- Cumul.       interest
                                 Share   surytransl.Retain.
                               capital shares  diff.  earn.
                                  MEUR   MEUR   MEUR   MEUR   MEUR   MEUR

Dec 31, 2007                      77.5   -0.9   -9.3  410.5    0.5  478.3

TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD                                0.1   -4.1   11.4    0.0    7.4
Dividends paid                                        -61.5         -61.5

March 31, 2008                    77.5   -0.8  -13.4  360.4    0.5  424.2

TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD                                0,0   -3.0   26.1   -0.5   22.5
Dividends paid

Dec 31, 2008                      77.5   -0.8  -16.5  386.5    0.0  446.7

TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD                                       4.8   14.3    0.0   19.1
Dividends paid                                        -38.2         -38.2

March 31, 2009                    77.5   -0.8  -11.7  362.5   -0.1  427.6

Retained earnings includes Fiskars' share of associate Wärtsilä's equity
changes. 


KEY FIGURES                                          3/2009 3/2008 change12/2008
                                                                        %
Equity/share, euro                                     5.52   5.48      1   5.77
Equity ratio                                            43%    39%           46%
Net gearing                                             79%    84%           69%
Equity, EUR million                                   427.6  424.2      1  446.7
Net interest bearing debt, EUR million                337.4  355.7     -5  309.9
Average number of employees                           4 085  4 378     -7  4 325
Number of employees, end of period                    4 016  4 341     -7  4 119
Number of shares outstanding end of period,
in thousands
A shares                                             54 832 54 832        54 832
K shares                                             22 565 22 565        22 565


CURRENCY RATES                                          1-3    1-3 change   1-12
                                                       2009   2008      %   2008
USD average rate                                       1.30   1.50    -13   1.47
USD end-of-period                                      1.33   1.58    -16   1.39


NOTES TO THE INTERIM FINANCIAL STATEMENTS

This interim financial statement bulletin is prepared in accordance with
IAS 34 (Interim Financial Reporting) using the same accounting policies and
methods of computation as in the annual financial statements.

All figures in the accounts have been rounded and consequently the sum of
individual figures can deviate from the presented sum figure.

The definition for operating profit (EBIT) was changed as of January 1, 2009.
The operating profit includes operating results of Fiskars operating segments
EMEA, America, and Others. The share of the profit of associated company
Wärtsilä and the change in the fair value of biological assets are presented
in separate lines below the EBIT in the income statement.

Fiskars' operating segment and business area structure was changed
as of January 1, 2009. The comparison figures for 2008 have been restated
according to the new structure. Fiskars Corporation has adopted IFRS 8
(Operating Segments) as of January 1, 2008.

Fiskars changed the accounting estimate used for valuing its biological assets
in the fourth quarter of 2008. The average price for measuring the fair
value of standing timber was changed to a three-year rolling average price.

Fiskars changed the accounting for defined benefit pension liabilities to apply
the amendment of IAS 19 allowing for immediate recognition of acturial gains
and losses in the equity in the fourth quarter of 2008. The previous periods'
data was restated accordingly. Due to the change, a EUR -0.1 million adjustment
in the operating profit (EBIT) to the first quarter of 2008 was made.

The Group has implemented the following new or amended International
Financial Reporting Standards (IFRS) and interpretations applicable to the
Group as of January 1, 2009:
 - IAS 1 (revised) Presentation of Financial Statements
 - IAS 23 (revised) Borrowing costs
 - IFRIC 13 Customer Loyalty Programmes

The adoption of the revised standards and interpretations had no impact on the
reported results or financial position. However, due to the adoption of the
revised 
IAS 1 there were several changes in the terminology.

Use of estimates:
The preparation of the financial statements in accordance with IFRS requires
management to make estimates and assumptions that affect the valuation of the
reported assets and liabilities and other information, such as contingent
liabilities and the recognition of income and expenses in the income statement.
Although the estimates are based on the management's best knowledge of current
events and actions, actual results may differ from the estimates.


OPERATING SEGMENTS *)              1-3    1-3 change   1-12
NET SALES                         2009   2008      %   2008
                                  MEUR   MEUR          MEUR
EMEA                             111.3  127.3    -13  491.3
Americas                          58.6   51.8     13  216.5
Other                              1.7    1.8     -9    5.9
Inter-segment sales **)           -4.4   -6.2         -16.7
GROUP TOTAL                      167.1  174.7     -4  697.0


OPERATING SEGMENTS *)              1-3    1-3          1-12
OPERATING PROFIT (EBIT)           2009   2008          2008
                                  MEUR   MEUR          MEUR
EMEA                               4.8    4.3          21.7
Americas                           6.5    2.1          -4.0
Other and eliminations            -2.6   -1.4         -11.7
GROUP TOTAL                        8.6    5.0           6.0


OPERATING SEGMENTS *)              1-3    1-3          1-12
DEPRECIATIONS                     2009   2008          2008
                                  MEUR   MEUR          MEUR
EMEA                               4.3    4.3          18.3
Americas                           2.0    1.8          12.8
Other and eliminations             0.4    0.4           1.8
GROUP TOTAL                        6.8    6.6          32.9


OPERATING SEGMENTS *)              1-3    1-3          1-12
CAPITAL EXPENDITURE               2009   2008          2008
                                  MEUR   MEUR          MEUR
EMEA                               3.1    4.9          23.7
Americas                           0.5    0.4           3.0
Other and eliminations             0.4    0.3           3.1
CAPITAL EXPENDITURE TOTAL          4.0    5.6          29.8

*) In a Stock Exchange Release on April 23, 2009, Fiskars published the
comparative figures for 2008 according to the new reporting structure.
The share of profit of the associated company Wärtsilä is presented in
a separate line below EBIT in the income statement.

**) Inter-segment sales
    EMEA                          -3.1   -3.7         -10.3
    Americas                      -1.0   -1.8          -5.1
    Other                         -0.4   -0.7          -1.4

Short delivery times are a prerequisite in Fiskars' fields of operations.
Therefore, the backlog of orders and changes in it are not of
significant importance.

BUSINESS AREAS                     1-3    1-3 change   1-12
NET SALES                         2009   2008      %   2008
                                  MEUR   MEUR          MEUR
Home                              64.0   67.2     -5  316.8
Garden                            68.6   71.1     -4  231.2
Outdoor                           33.5   35.1     -4  145.2
Other                              1.1    1.4           3.9
GROUP TOTAL                      167.1  174.7     -4  697.0


INTANGIBLE ASSETS AND GOODWILL                              3/2009 3/200812/2008
                                                              MEUR   MEUR   MEUR
Book value, Jan. 1                                           230.2  233.8  233.8
Currency translation adjustment                                0.6   -0.1    2.8
Additions                                                      0.1    0.7    1.4
Amortization                                                  -1.3   -1.2   -6.0
Decreases and transfers                                        0.2    0.2   -1.9
BOOK VALUE AT END OF PERIOD                                  229.9  233.3  230.2


TANGIBLE ASSETS AND INVESTMENT PROPERTY                     3/2009 3/200812/2008
                                                              MEUR   MEUR   MEUR
Book value, Jan. 1                                           120.9  130.2  130.2
Currency translation adjustment                                0.4   -2.4   -1.2
Additions                                                      3.9    5.0   24.0
Depreciation and impairment                                   -5.5   -5.3  -26.5
Decreases and transfers                                       -0.4   -0.6   -5.5
BOOK VALUE AT END OF PERIOD                                  119.4  126.9  120.9


CONTINGENCIES AND PLEDGED ASSETS                            3/2009 3/200812/2008
                                                              MEUR   MEUR   MEUR
AS SECURITY FOR OWN COMMITMENTS
Guarantees                                                       0      1      1
Lease commitments                                               64     63     64
Other contingencies                                              5      7      5
TOTAL                                                           69     71     71

GUARANTEES AS SECURITY FOR THIRD-PARTY COMMITMENTS
Real estate mortgages                                            2      2      2

AS SECURITY FOR SUBSIDIARIES' COMMITMENTS
Guarantees                                                      16     12     16

TOTAL CONTINGENCIES AND PLEDGED ASSETS                          87     85     89


NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                                     128    136    171
Interest rate swaps                                              1     16     16
Forward interest rate agreements                                       30
Electricity forward agreements                                   2      1      2

MARKET VALUE VS. NOMINAL AMOUNTS OF DERIVATIVES

Forward exchange contracts                                      -1     -2      2
Interest rate swaps                                              0      0      0
Forward interest rate agreements                                        0
Electricity forward agreements                                   0      0      0

Forward exchange contracts have been valued at market in the
financial statements.


RELATED PARTY TRANSACTIONS

The dividend from Wärtsilä EUR 25.3 million is reported as Dividends from
associate in the Consolidated Statement of Cash Flows.
The dividend was received during the first quarter of 2009.



Fiskars is a leading global supplier of consumer products for the home, garden, 
and outdoors. The group has a strong portfolio of respected international 
brands, including Fiskars, Iittala, Gerber, Silva, and Buster. Associated 
company, Wärtsilä Corporation, is also an important part of the group, and 
forms one of Fiskars' operating segments, together with the Americas, EMEA, 
and Other. Founded in 1649 and listed on NASDAQ OMX Helsinki, Fiskars is 
Finland's oldest company. Fiskars recorded net sales of €697 million in 2008, 
and employs some 4,100 people.

www.fiskars.fi


FISKARS CORPORATION

Kari Kauniskangas
President & CEO