Inside information, profit warning: Fiskars lowers its outlook for 2022

Fiskars Corporation
Inside Information
December 14, 2022 at 5:45 p.m. EET

Inside information, profit warning: Fiskars lowers its outlook for 2022

Fiskars Corporation lowers its outlook for 2022 as a result of weaker than anticipated demand in the fourth quarter. The company now expects comparable EBIT in 2022 to be approximately EUR 150 million (2021: EUR 154.2 million). Previously the company expected comparable EBIT to increase from 2021.

Rationale for updating the outlook

Low consumer confidence together with retailers’ elevated inventory levels have reduced customers’ new orders and replenishments more than anticipated, especially in the U.S. This has had a negative impact in the fourth quarter on Vita segment’s holiday season sales as well as on Terra segment’s sales.

The company continues to manage its cost base prudently to compensate for both the lower sales outlook and cost inflation.

New outlook for 2022:

Fiskars expects comparable EBIT to be approximately EUR 150 million (2021: EUR 154.2 million).

Previous outlook for 2022:

Fiskars expects comparable EBIT to increase from 2021 (2021: EUR 154.2 million).

FISKARS CORPORATION

Nathalie Ahlström
President & CEO

Further information:
Jussi Siitonen, CFO, tel. +358 204 3910
Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192

Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Our brands include Fiskars, Gerber, Iittala, Royal Copenhagen, Moomin by Arabia, Waterford, and Wedgwood. Our brands are present in more than 100 countries and we have more than 350 own stores. We have 7,000 employees and our global net sales in 2021 were EUR 1.3 billion.

We are driven by our common purpose: Pioneering design to make the everyday extraordinary. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth.