Stock exchange release August 2, 2012

Fiskars’ second quarter 2012: Consistent performance and steady progress in the execution of strategy

Fiskars Corp.       Interim Report January – June 2012   August 2, 2012 at 8.30 am EET

Second quarter 2012 in brief:

  • Net sales were steady at EUR 201.1 million (Q2 2011: 200.6)
  • Comparable net sales (currency neutral and excluding Silva) decreased by 1%
  • Operating profit (EBIT) increased by 4% to EUR 19.7 million (19.0)
  • Earnings per share were EUR 1.33 (0.30), including EUR 1.06 per share from the sale of Wärtsilä shares
  • Cash flow from operating activities was EUR 18.8 million (8.2, incl. a EUR 8.2 million larger negative impact from withheld tax on dividend)
  • Outlook for 2012 unchanged: full-year net sales and operating profit excluding non-recurring items are expected to be at 2011 levels
     

Fiskars President and CEO, Kari Kauniskangas:

”I am pleased that our business portfolio is holding up against the softening economic and market conditions. It is clear that the risks related to both the financial uncertainty and market development have increased after the first quarter, and in Europe garden retail has also suffered from poor weather. Yet our business performed steadily and we delivered a solid result for the second quarter.

Fiskars continues on its journey of strategic change with consistency. During the reporting period, the implementation of our five-year investment program progressed according to plan and we took several other important steps in the execution of our strategy. These included, among other things, the establishment of a common regional financial service center and a new, strengthened sales organization for the EMEA region.”

Group key figures

EUR million Q2 2012 Q2 2011 Change Q1-Q2 2012 Q1-Q2 2011 Change 2011
Net sales 201.1 200.6 0% 389.5 389.9 0% 742.5
Operating profit (EBIT) 19.7 19.0 4% 36.8 35.3 4% 52.8
Share of profit from associated company 8.5 10.6 -19% 18.3 21.7 -16% 42.7
Change in the fair value of standing timber 0.8 -0.2   0.3 -0.7   -1.0
Profit before taxes* 116.0 28.6 306% 140.6 123.5 14% 161.8
Profit for the period* 108.7 24.2 349% 128.7 116.1 11% 156.3
Earnings per share, EUR** 1.33 0.30 349% 1.57 1.42 11% 1.91
Equity per share, EUR       7.74 6.16 26% 6.77
Cash flow from operating activities*** 18.8 8.2 129% 32.9 40.2 -18% 107.4
Equity ratio, %       64% 53%   59%
Net gearing, %       8% 43%   27%
Capital expenditure 7.7 5.1 50% 12.4 10.3 21% 24.7
Personnel (FTE), average 3,384 3,714 -9% 3,381 3,677 -8% 3,545

* Including a non-recurring profit of around EUR 87.0 million from the sale of Wärtsilä shares in Q2 2012, and a non-recurring profit of EUR 69.8 million from the sale of Wärtsilä shares in Q1 2011
** Including EUR 1.06 from the sale of Wärtsilä shares in Q2 2012 and 0.85 in Q1 2011
***Including Wärtsilä dividend of EUR 26.8 million in Q1 2012 (40.9)

Full interim report
The full interim report is published as a pdf file attachment to this summary stock exchange release and is available on the company’s Web site at www.fiskarsgroup.com.

News conference:
An analyst and press conference on the second quarter results will be held on August 2, 2012, at 10:00 am at the company’s headquarters, Fiskars Campus, Hämeentie 135 A, Helsinki. Presentation material will be available at www.fiskarsgroup.com.

FISKARS CORPORATION

Kari Kauniskangas
President and CEO

Further information:

  • President and CEO Kari Kauniskangas, tel. +358 204 39 5500
  • Interim CFO Jyri Virrantuomi, tel. +358 204 39 5704

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 and Gerber. Founded in 1649 and listed on NASDAQ OMX Helsinki, Fiskars is Finland’s oldest company. Fiskars recorded net sales of EUR 743 million in 2011, and employs some 3,400 people in over 20 countries. www.fiskarsgroup.com

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