Fiskars’ new reporting structure and restated comparison figures for 2008

FISKARS' NEW REPORTING STRUCTURE AND RESTATED COMPARISON FIGURES FOR 2008 

Fiskars' operating segment and business area structure was changed as 
of January 1, 2009. The comparison figures for 2008 have now been 
restated according to this new structure and are presented in the 
attached tables. 

Under the new reporting structure, Fiskars has also changed the 
definition for 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 the EBIT in the income statement from the beginning of 
2009 onwards. The restated income statement is presented in the 
attached tables.

Fiskars' operating segments remain 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. Other now covers Real Estate and 
corporate headquarter functions. 

The business areas are Home, Garden, and Outdoor. The Home business 
area includes Homeware as well as School, Office, and Craft (SOC). 
Inha Works (Boats) has been included in the Outdoor business area. 

The new reporting structure will be used for the first time in the Q1 
2009 interim report to be published on May 6, 2009.

Further information:
CFO Teemu Kangas-Kärki, Fiskars Corp., tel. +358 9 6188 6231

Attachments:
- Restated Consolidated Income Statement, by quarter and full-year 2008
- Restated operating segment and business area information, by quarter 
  and full-year 2008


CONSOLIDATED INCOME STATEMENT                  1-3     4-6     7-9   10-12
MEUR, QUARTERLY                               2008    2008    2008    2008

Net sales                                    174.7   187.3   160.1   174.9
Cost of goods sold                          -119.2  -123.3  -108.8  -132.1
Gross profit                                  55.5    63.9    51.3    42.8

Other operating income                         0.5     0.8     1.3     0.4
Sales and marketing expenses                 -33.3   -32.7   -29.5   -34.3
Administration expenses                      -15.4   -14.2   -12.5   -12.3
Research and development costs                -2.0    -1.9    -1.5    -2.9
Other operating expenses                      -0.3     0.8    -1.2   -17.1
Operating profit (EBIT) *)                     5.0    16.7     7.8   -23.5

Change in fair value of biological assets     -4.9     2.1     0.3    -3.1
Income from associate                         13.6    16.2    16.1    24.6

Financial income                               0.0     0.2     0.0     0.0
Financial expenses                            -5.3    -4.7    -3.4    -6.2
Profit before taxes                            8.4    30.5    20.7    -8.2

Income taxes                                   1.0    -3.9    -1.1     1.7
Profit (loss) for the period                   9.4    26.6    19.7    -6.5

Attributable to:
Owners of the Company                          9.4    26.6    19.7    -6.5
Non-controlling interest                       0.0     0.0     0.0    -0.1
                                               9.4    26.6    19.7    -6.5
Earnings for owners of the Company
per share, euro (basic)                       0.12    0.34    0.25   -0.08

Earnings per share, euro (diluted)            0.12    0.34    0.25   -0.08

OTHER COMPREHENSIVE INCOME                     1-3     4-6     7-9   10-12
MEUR, QUARTERLY                               2008    2008    2008    2008

Profit (loss) for the period                   9.4    26.6    19.7    -6.5
Translation differences                       -6.9    -0.5     7.5    -2.0
Changes in associate recognized directly
in equity                                      2.0    -4.2    -6.8    -9.1
Equity net investment hedges after tax         2.7    -0.1    -3.6     1.6
Defined benefit plan, actuarial
gains (losses), net of tax                    -0.1    -0.1    -0.1    -0.1
Other changes                                  0.1     0.1     0.0     0.0
Other comprehensive income
for the period, net of tax, in total          -2.1    -4.8    -2.9    -9.6
Total comprehensive income
for the period                                 7.4    21.8    16.7   -16.1

Attributable to:
Owners of the Company                          7.4    21.8    16.7   -16.0
Non-controlling interest                       0.0     0.0     0.0    -0.1


CONSOLIDATED INCOME STATEMENT                  1-6     1-9    1-12
MEUR, YTD                                     2008    2008    2008

Net sales                                    362.0   522.1   697.0
Cost of goods sold                          -242.6  -351.4  -483.5
Gross profit                                 119.4   170.7   213.5

Other operating income                         1.3     2.5     2.9
Sales and marketing expenses                 -65.9   -95.5  -129.8
Administration expenses                      -29.6   -42.1   -54.4
Research and development costs                -3.9    -5.4    -8.4
Other operating expenses                       0.5    -0.7   -17.8
Operating profit (EBIT) *)                    21.7    29.5     6.0

Change in fair value of biological assets     -2.8    -2.6    -5.6
Income from associate                         29.8    45.9    70.5

Financial income                               0.2     0.2     0.0
Financial expenses                           -10.0   -13.4   -19.4
Profit before taxes                           38.9    59.7    51.5

Income taxes                                  -2.9    -4.0    -2.3
Profit (loss) for the period                  36.0    55.7    49.2

Attributable to:
Owners of the Company                         36.0    55.7    49.3
Non-controlling interest                       0.0     0.0    -0.1
                                              36.0    55.7    49.2
Earnings for owners of the Company
per share, euro (basic)                       0.47    0.72    0.64

Earnings per share, euro (diluted)            0.47    0.72    0.64

OTHER COMPREHENSIVE INCOME                     1-6     1-9    1-12
MEUR, YTD                                     2008    2008    2008

Profit (loss) for the period                  36.0    55.7    49.2
Translation differences                       -7.4     0.1    -1.9
Changes in associate recognized directly
in equity                                     -2.2    -9.0   -18.1
Equity net investment hedges after tax         2.7    -0.9     0.7
Defined benefit plan, actuarial
gains (losses), net of tax                    -0.1    -0.2    -0.2
Other changes                                  0.2     0.2     0.2
Other comprehensive income
for the period, net of tax, in total          -6.8    -9.8   -19.3
Total comprehensive income
for the period                                29.2    45.9    29.9

Attributable to:
Owners of the Company                         29.2    45.9    30.0
Non-controlling interest                       0.0     0.0    -0.1

*) IAS 1 Presentation of Financial Statements does not give a 
definition for operating profit. In Fiskars' accounting principles 
from the beginning of 2009 onwards, 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 not included in the 
operating profit.


OPERATING SEGMENTS                             1-3     4-6     7-9   10-12
MEUR, QUARTERLY                               2008    2008    2008    2008

Net sales
EMEA                                         127.3   130.5   109.0   124.4
Americas                                      51.8    58.9    52.2    53.7
Other                                          1.8     1.3     1.5     1.2
Inter-segment sales **)                       -6.2    -3.5    -2.6    -4.4
Group total                                  174.7   187.3   160.1   174.9

Operating profit (EBIT)
EMEA                                           4.3    11.0     5.4     1.0
Americas                                       2.1     6.7     5.1   -18.0
Other and eliminations                        -1.4    -1.0    -2.7    -6.6
Group total                                    5.0    16.7     7.8   -23.5

Depreciation and amortization
EMEA                                           4.3     4.4     4.8     4.8
Americas                                       1.8     1.7     1.7     7.6
Other and eliminations                         0.4     0.4     0.4     0.5
Group total                                    6.6     6.5     6.9    12.8

Capital expenditure
EMEA                                           4.9     8.2     6.2     4.4
Americas                                       0.4     0.9     1.3     0.4
Other and eliminations                         0.3     0.6     0.5     1.6
Group total                                    5.6     9.7     8.0     6.5

BUSINESS AREAS                                 1-3     4-6     7-9   10-12
MEUR, QUARTERLY                               2008    2008    2008    2008

Net sales
Home                                          67.2    74.9    80.4    94.3
Garden                                        71.1    75.7    46.1    38.3
Outdoor                                       35.1    36.2    32.6    41.2
Other                                          1.4     0.5     0.9     1.0
Group total                                  174.7   187.3   160.1   174.9

**) Inter-segment sales
EMEA                                          -3.7    -2.2    -1.6    -2.7
Americas                                      -1.8    -1.2    -1.0    -1.1
Other                                         -0.7    -0.1     0.0    -0.5


OPERATING SEGMENTS                             1-6     1-9    1-12
MEUR, YTD                                     2008    2008    2008

Net sales
EMEA                                         257.9   366.9   491.3
Americas                                     110.7   162.9   216.5
Other                                          3.1     4.7     5.9
Inter-segment sales **)                       -9.7   -12.3   -16.7
Group total                                  362.0   522.1   697.0

Operating profit (EBIT)
EMEA                                          15.3    20.7    21.7
Americas                                       8.8    13.9    -4.0
Other and eliminations                        -2.4    -5.1   -11.7
Group total                                   21.7    29.5     6.0

Depreciation and amortization
EMEA                                           8.7    13.5    18.3
Americas                                       3.5     5.2    12.8
Other and eliminations                         0.9     1.3     1.8
Group total                                   13.1    20.0    32.9

Capital expenditure
EMEA                                          13.1    19.3    23.7
Americas                                       1.4     2.6     3.0
Other and eliminations                         0.9     1.4     3.1
Group total                                   15.4    23.3    29.8

BUSINESS AREAS                                 1-6     1-9    1-12
MEUR, YTD                                     2008    2008    2008

Net sales
Home                                         142.0   222.4   316.8
Garden                                       146.8   192.9   231.2
Outdoor                                       71.3   103.9   145.2
Other                                          1.9     2.8     3.9
Group total                                  362.0   522.1   697.0

**) Inter-segment sales
EMEA                                          -5.9    -7.5   -10.3
Americas                                      -2.9    -4.0    -5.1
Other                                         -0.8    -0.8    -1.4


FISKARS CORPORATION
Kari Kauniskangas

Fiskars is a leading global supplier of consumer products for the home, garden
and outdoors. The group has a strong portfolio of trusted 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 EUR 697 million in 2008, and employs some
4,100 people.

www.fiskars.fi