Fiskars upgrades its outlook for 2021 thanks to a strong start to the year
Fiskars Corporation
Insider information
March 24, 2021 at 20:15 EET
Fiskars upgrades its outlook for 2021 thanks to a strong start to the year
Fiskars’ outlook for 2021 has improved as a result of the better than expected performance during the first quarter. The company now expects the comparable EBITA to be lower than in 2020, but above EUR 120 million. According to the previous outlook, comparable EBITA in 2021 was expected to be lower than in 2020, but above EUR 110 million. The comparable EBITA in the first quarter will increase significantly from the previous year’s level. The comparison figures in the first quarter of 2020 were negatively impacted by the COVID-19 pandemic.
“The strong momentum continued during the first quarter. Despite store closures in some markets, net sales increased supported by strong demand in all business areas. The consumers are seeking experiences in their everyday, and we have been successfully catering to those needs. Nevertheless, visibility still continues to be low due to the COVID-19 pandemic; the seasonality of both trade and consumer demand may continue to differ from a typical year”, said Nathalie Ahlström, President and CEO.
The updated outlook for 2021:
In 2021, comparable EBITA is expected to be lower than in 2020, but above EUR 120 million.
The previous outlook for 2021 (issued on February 5, 2021):
In 2021, comparable EBITA is expected to be lower than in 2020, but above EUR 110 million.
Visibility continues to be low due to the COVID-19 pandemic, which is profoundly impacting consumers’ lives in terms of changes in for example disposable income, purchasing choices and consumer behavior. These may bring challenges as well as opportunities for Fiskars Group. The majority of the savings in 2020 were temporary in nature and impacted for example marketing. To ensure sustainable business in the long-term, similar temporary cost savings cannot be maintained for a prolonged period of time. Furthermore, the benefits from the ongoing Restructuring and Transformation programs are expected to fully materialize in 2022.
Fiskars will publish the Interim Report for January-March 2021 on April 29, 2021.
FISKARS CORPORATION
Nathalie Ahlström
President & CEO
Media and investor contacts:
Kristian Tammela, Director, Investor Relations, tel. +358 40 708 1181
Making the everyday extraordinary
Fiskars Group’s vision is to create a positive, lasting impact on our quality of life. Our brands Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood are present in people’s everyday lives – at home, in the garden, and outdoors. This gives us an opportunity to make the everyday extraordinary today, and for future generations. We have a presence in 30 countries, and our products are available in more than 100 countries. Our shares are listed on the Nasdaq Helsinki (FSKRS). Please visit us at www.fiskarsgroup.com for more information and follow us on Twitter @fiskarsgroup.