Reported Earnings • Jul 17
Second quarter 2026 earnings released: €0.10 loss per share (vs €0.03 loss in 2Q 2025) Second quarter 2026 results: €0.10 loss per share (further deteriorated from €0.03 loss in 2Q 2025). Revenue: €260.9m (up 1.0% from 2Q 2025). Net loss: €7.80m (loss widened 255% from 2Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 06
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at €12.74. The fair value is estimated to be €16.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 55%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Declared Dividend • Jun 12
Dividend of €0.21 announced Shareholders will receive a dividend of €0.21. Ex-date: 10th September 2026 Payment date: 18th September 2026 Dividend yield will be 4.5%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (215% earnings payout ratio) nor is it adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 139% to bring the payout ratio under control. EPS is expected to grow by 105% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Upcoming Dividend • May 27
Upcoming dividend of €0.21 per share Eligible shareholders must have bought the stock before 03 June 2026. Payment date: 11 June 2026. The company is paying out more than 100% of its profits and is paying out 92% of its cash flow. Trailing yield: 5.9%. Within top quartile of British dividend payers (5.6%). In line with average of industry peers (5.4%). Recent Insider Transactions • May 04
Independent Non-Executive Director recently sold €8.2m worth of stock On the 29th of April, Louise Fromond sold around 601k shares on-market at roughly €13.58 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €8.0m more than they bought in the last 12 months. Announcement • Apr 24
Fiskars Corporation Reiterates Earnings Guidance for the Year 2026 Fiskars Corporation reiterated earnings guidance for the year 2026. For the year, the company reiterates comparable EBIT to improve from the 2025 level (2025: EUR 76.4 million). Reported Earnings • Apr 24
First quarter 2026 earnings released: EPS: €0.11 (vs €0.16 loss in 1Q 2025) First quarter 2026 results: EPS: €0.11 (up from €0.16 loss in 1Q 2025). Revenue: €282.9m (down 3.1% from 1Q 2025). Net income: €8.60m (up €21.8m from 1Q 2025). Profit margin: 3.0% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.4% to €12.54. The fair value is estimated to be €15.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 64%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 36% per annum over the same time period. Board Change • Apr 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Vice Chairman Alexander Ehrnrooth was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 05
Upcoming dividend of €0.21 per share Eligible shareholders must have bought the stock before 12 March 2026. Payment date: 20 March 2026. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.5%. Within top quartile of British dividend payers (5.5%). Higher than average of industry peers (4.6%). Declared Dividend • Feb 07
Final dividend of €0.21 announced Shareholders will receive a dividend of €0.21. Ex-date: 12th March 2026 Payment date: 20th March 2026 Dividend yield will be 5.0%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 7x earnings) nor is it covered by cash flows (118% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 678% to bring the payout ratio under control. EPS is expected to grow by 153% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Feb 06
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 57% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 247% Cash payout ratio: 118% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Announcement • Feb 06
Fiskars Oyj Abp Announces Executive Changes Fiskars Oyj Abp announced that as part of its transition into a structure based on two operationally independent Business Areas, Aamir Shaukat, who has served as EVP, Group Operations and Sustainability as well as Chief Operations Officer in BA Vita, will fully focus on his role in BA Vita. Aamir Shaukat will report to Daniel Lalonde, CEO of Vita, and will no longer be part of the Fiskars Group Leadership team. The role of EVP, Group Operations and Sustainability will be discontinued, and Aamir Shaukat's Group duties will move under the Group's CFO, Jussi Siitonen. The Fiskars Group Leadership Team consists of the following members: Jyri Luomakoski, Fiskars Group's President and CEO; Jussi Siitonen, Group CFO & deputy to the President and CEO of Fiskars Group; Dr. Steffen Hahn, CEO of Fiskars; Daniel Lalonde, CEO of Vita. Announcement • Feb 05
Fiskars Oyj Abp Proposes Dividend for the Financial Period Ended December 31, 2025, Payable on March 20, 2026, June 11, 2026, September 18, 2026 and December 14, 2026 The Board of Directors of Fiskars Oyj Abp proposed to the Annual General Meeting to be held on March 11, 2026, that a dividend of EUR 0.84 per share be paid for the financial period that ended on December 31, 2025. The dividend is proposed to be paid in four instalments as follows: The first instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date March 13, 2026. The payment date proposed by the Board of Directors for this instalment is March 20, 2026. The second instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for June 2, 2026. The preliminary record date for the second instalment is June 4, 2026 and the dividend payment date June 11, 2026, at the latest. The third instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for September 9, 2026. The preliminary record date for the third instalment is September 11, 2026 and the dividend payment date September 18, 2026, at the latest. The fourth instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for December 3, 2026. The preliminary record date for the fourth instalment is December 7, 2026 and the dividend payment date December 14, 2026, at the latest. Announcement • Jan 21
Fiskars Oyj Abp Announces Board Changes Fiskars Oyj Abp announced that Albert Ehrnrooth, Julia Goldin and Susan Repo have informed that they will no longer be available for re-election to the Board of Directors. Announcement • Nov 21
Fiskars Corporation Lowers Earnings Guidance for the Year 2025 Fiskars Corporation lowered earnings guidance for the year 2025. For the year, the company lowers its guidance due to a greater-than-anticipated impact on the fourth quarter EBIT from actions taken to scale down production and reduce inventories in Business Area Vita. The company now expects Fiskars Group's comparable EBIT* for 2025 to be in the range of EUR 75 - EUR 85 million. Previously the company expected comparable EBIT to be in the range of EUR 90 - EUR 100 million with visibility pointing more towards the lower end of the range (2024: EUR 111.4 million). Business Area Vita's inventories remain at elevated levels following a prolonged period of subdued demand. As communicated in connection with Fiskars Group's third-quarter results on October 23, 2025, Vita is scaling down production at selected manufacturing units to reduce inventories and safeguard cash flow. While these actions strengthen the company's long-term position, they temporarily affect profitability negatively through supply chain variance. In addition, Business Area Vita will recognize a write-off related to excess and obsolete inventory. Demand for Business Area Vita's products has shown signs of recovery. Vita's comparable net sales grew by 8.2% in the third quarter of 2025, and a positive momentum has continued to date. Therefore, the updated guidance reflects supply chain-related impacts rather than underlying demand trends. Business Area Vita generates the vast majority of Fiskars Group's fourth quarter comparable EBIT, underlining the importance of its performance during this period. The fourth quarter is seasonally less substantial for Business Area Fiskars. The U.S. tariffs continue to impact particularly Business Area Fiskars, which is actively working to mitigate their effects. Buy Or Sell Opportunity • Nov 13
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €13.72. The fair value is estimated to be €17.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 60%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 44% per annum over the same time period. Reported Earnings • Oct 24
Third quarter 2025 earnings released: EPS: €0.07 (vs €0.07 loss in 3Q 2024) Third quarter 2025 results: EPS: €0.07 (up from €0.07 loss in 3Q 2024). Revenue: €259.3m (up 1.3% from 3Q 2024). Net income: €5.30m (up €11.1m from 3Q 2024). Profit margin: 2.0% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Sep 09
Fiskars Corporation Approves Dividend Payment for Second Instalment, Payable on September 18, 2025 The Board of Directors of Fiskars Corporation has on September 9, 2025 resolved in accordance with the resolution of the Annual General Meeting that the dividend payment date for the second dividend instalment of EUR 0.42 per share shall be September 18, 2025. The ex-dividend date for the dividend instalment shall be September 10, 2025 and the record date September 11, 2025. Upcoming Dividend • Sep 03
Upcoming dividend of €0.42 per share Eligible shareholders must have bought the stock before 10 September 2025. Payment date: 18 September 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.0%. Within top quartile of British dividend payers (5.6%). Higher than average of industry peers (4.9%). Reported Earnings • Jul 18
Second quarter 2025 earnings released: €0.03 loss per share (vs €0.08 loss in 2Q 2024) Second quarter 2025 results: €0.03 loss per share (improved from €0.08 loss in 2Q 2024). Revenue: €258.3m (down 8.1% from 2Q 2024). Net loss: €2.20m (loss narrowed 65% from 2Q 2024). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jul 17
Fiskars Group Revises Earnings Guidance for the Full Year 2025 Fiskars Group revised earnings guidance for the full year 2025. In June, the company revised guidance for 2025, now expecting comparable EBIT for the year to be in the range of EUR 90-110 million. As outlined in the profit warning, Fiskars Group has faced a rapid decline in U.S. retailer demand due to indirect impacts from tariffs. This sharp drop emerged abruptly in May-June 2025. Looking at Business Area Vita's financials, its comparable net sales in the second quarter declined by 3%. A key driver of this decline was the weak performance of the Waterford brand, especially in the U.S. This is further intensified by the nature of Waterford's crystal production, which operates with a process industry logic and is consequently challenging to scale down when volumes decline. BA Vita's comparable EBIT declined to EUR -8 million, and its comparable gross margin declined by 410 bps to 54.7%. Some bright spots of the quarter were Moomin Arabia's continued strong profitable growth as it celebrates Moomin's 80th anniversary, as well as the good performances of Nordic brands such as Arabia and Rörstrand. Buy Or Sell Opportunity • Jul 07
Now 20% undervalued Over the last 90 days, the stock has risen 1.4% to €14.54. The fair value is estimated to be €18.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.3% over the last 3 years. Earnings per share has declined by 54%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are also forecast to grow by 45% per annum over the same time period. Announcement • Jun 13
Fiskars Oyj Abp Lowers Its Earnings Guidance for 2025 Fiskars Oyj Abp lowered its earnings guidance for 2025. For the year, the company expects comparable EBIT to be in the range of EUR 90 million to EUR 110 million (2024: EUR 111.4 million). Previous guidance for 2025: The company expects comparable EBIT to improve from the 2024 level (2024: EUR 111.4 million). Buy Or Sell Opportunity • May 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.0% to €14.54. The fair value is estimated to be €18.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.3% over the last 3 years. Earnings per share has declined by 54%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings are also forecast to grow by 42% per annum over the same time period. Reported Earnings • Apr 25
First quarter 2025 earnings released: €0.16 loss per share (vs €0.03 profit in 1Q 2024) First quarter 2025 results: €0.16 loss per share (down from €0.03 profit in 1Q 2024). Revenue: €291.9m (up 3.2% from 1Q 2024). Net loss: €13.1m (down €15.5m from profit in 1Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 03
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to €14.64. The fair value is estimated to be €18.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.7% over the last 3 years. Earnings per share has declined by 42%. For the next 3 years, revenue is forecast to grow by 3.7% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Announcement • Apr 01
Fiskars Group Appoints Daniel Lalonde as CEO of Business Area Vita, Effective April 14,2025 Fiskars Group has appointed Daniel Lalonde as the new CEO of Business Area Vita and a member of the Fiskars Group Leadership Team. Daniel will start in his position on April 14, 2025 and report to Fiskars Group's President and CEO, Nathalie Ahlström. He has Canadian and French citizenships and will be based in Copenhagen, Denmark. Daniel joins Fiskars Group with a proven track record in building world-class brands and business in luxury,fashion, home, and consumer goods. He has worked in CEO positions in Flos B&B Italia Group, SMCP (Sandro, Maje,Claudie Pierlot and Fursac) and Ralph Lauren. Prior to these positions, he had a 10-year career at the LVMH Group, working as President & CEO of LVMH Watches & Jewellery North America, President & CEO of Louis Vuitton North America and as Global President & CEO of Moët & Chandon and Dom Perignon. The Fiskars Group Leadership Team will, as of April 14, 2025, consist of the following members: Nathalie Ahlström, Fiskars Group's President and CEO; Jussi Siitonen, Group CFO & deputy to the President and CEO of Fiskars Group; Daniel Lalonde, CEO of VitaDr; Steffen Hahn, CEO of Fiskars; Aamir Shaukat, Executive Vice President, Group Operations and Sustainability. Declared Dividend • Mar 23
Dividend of €0.42 announced Shareholders will receive a dividend of €0.42. Ex-date: 10th September 2025 Payment date: 18th September 2025 Dividend yield will be 5.3%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (251% earnings payout ratio) nor is it covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 178% to bring the payout ratio under control. EPS is expected to grow by 115% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Upcoming Dividend • Mar 06
Upcoming dividend of €0.42 per share Eligible shareholders must have bought the stock before 13 March 2025. Payment date: 21 March 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (4.3%). Buy Or Sell Opportunity • Feb 27
Now 20% undervalued Over the last 90 days, the stock has risen 4.6% to €15.50. The fair value is estimated to be €19.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.7% over the last 3 years. Earnings per share has declined by 42%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Declared Dividend • Feb 17
Final dividend of €0.42 announced Shareholders will receive a dividend of €0.42. Ex-date: 13th March 2025 Payment date: 21st March 2025 Dividend yield will be 5.3%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (255% earnings payout ratio) nor is it covered by cash flows (114% cash payout ratio). The dividend has increased by an average of 2.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 183% to bring the payout ratio under control. EPS is expected to grow by 177% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 07
Full year 2024 earnings released: EPS: €0.33 (vs €0.86 in FY 2023) Full year 2024 results: EPS: €0.33 (down from €0.86 in FY 2023). Revenue: €1.16b (up 2.4% from FY 2023). Net income: €27.1m (down 61% from FY 2023). Profit margin: 2.3% (down from 6.2% in FY 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Feb 07
Fiskars Corporation Provides Earnings Guidance for the Year 2025 Fiskars Corporation provided earnings guidance for the year 2025. For the year, the company expects comparable EBIT to improve from the 2024 level (2024: EUR 111.4 million) with the Group's EBIT generation seasonally tilted towards the end of the year. Announcement • Feb 06
Fiskars Oyj Abp Proposes Dividend for the Financial Period Ended on December 31, 2024, Payable on March 21, 2025 and September 18, 2025 The Board of Directors of Fiskars Oyj Abp proposed to the Annual General Meeting that a dividend of EUR 0.84 per share shall be paid for the financial period that ended on December 31, 2024. The dividend shall be paid in two instalments. The ex-dividend date for the first instalment of EUR 0.42 per share shall be on March 13, 2025. The first instalment shall be paid to a shareholder who is registered in the shareholders’ register of the company maintained by Euroclear Finland Oy on the dividend record date March 14, 2025. The payment date proposed by the Board of Directors for this instalment is March 21, 2025. The second instalment of EUR 0.42 per share shall be paid in September 2025. The second instalment shall be paid to a shareholder who is registered in the shareholders’ register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for September 9, 2025. The ex-dividend date for the second instalment would be September 10, 2025, the dividend record date would be September 11, 2025 and the dividend payment date September 18, 2025, at the latest. Announcement • Jan 30
Fiskars Oyj Abp Announces Volker Lixfeld Will No Longer Be Available for Re-Election to the Board of Directors Fiskars Oyj Abp announced that Volker Lixfeld has informed that he will no longer be available for re-election to the Board of Directors, at the Annual General Meeting to be held on March 12, 2025. Announcement • Oct 03
Fiskars Oyj Abp Announces Step Down of Peter Holmberg as Chief Digital Officer and Member of the Leadership Team Fiskars Oyj Abp announced Peter Holmberg, Chief Digital Officer and member of the company Leadership Team, has decided to leave the company to join a new employer outside the company. He will step down from his role at the company this week. Transition planning has already been started. Upcoming Dividend • Sep 06
Upcoming dividend of €0.41 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 23 September 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.1%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (4.2%). Declared Dividend • Jul 25
First half dividend of €0.41 announced Shareholders will receive a dividend of €0.41. Ex-date: 13th September 2024 Payment date: 23rd September 2024 Dividend yield will be 5.2%, which is higher than the industry average of 4.7%. Sustainability & Growth Dividend is not covered by earnings (197% earnings payout ratio). However, it is well covered by cash flows (47% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 119% to bring the payout ratio under control. EPS is expected to grow by 177% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jul 18
Fiskars Oyj Abp Reaffirms Earnings Guidance for the Year 2024 Fiskars Oyj Abp reaffirmed earnings guidance for the year 2024. For the year, the company expects comparable EBIT to be slightly above the 2023 level (2023: EUR 110.3 million). Announcement • Apr 27
Fiskars Oyj Abp Reiterates Earnings Guidance for 2024 Fiskars Oyj Abp reiterated earnings guidance for 2024. For the year, company expects comparable EBIT to be slightly above last year's EUR 110 million. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: €0.03 (vs €0.25 in 1Q 2023) First quarter 2024 results: EPS: €0.03 (down from €0.25 in 1Q 2023). Revenue: €282.9m (up 2.9% from 1Q 2023). Net income: €2.40m (down 88% from 1Q 2023). Profit margin: 0.8% (down from 7.3% in 1Q 2023). Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 15
Dividend of €0.41 announced Shareholders will receive a dividend of €0.41. Ex-date: 13th September 2024 Payment date: 23rd September 2024 Dividend yield will be 4.9%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is well covered by cash flows (39% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 5.3% to bring the payout ratio under control. EPS is expected to grow by 77% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Upcoming Dividend • Mar 07
Upcoming dividend of €0.41 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 22 March 2024. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of British dividend payers (6.3%). Higher than average of industry peers (4.6%). Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: €0.86 (vs €1.21 in FY 2022) Full year 2023 results: EPS: €0.86 (down from €1.21 in FY 2022). Revenue: €1.13b (down 9.5% from FY 2022). Net income: €69.9m (down 29% from FY 2022). Profit margin: 6.2% (down from 7.9% in FY 2022). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Declared Dividend • Feb 12
Final dividend of €0.41 announced Shareholders will receive a dividend of €0.41. Ex-date: 14th March 2024 Payment date: 22nd March 2024 Dividend yield will be 4.8%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is well covered by cash flows (39% cash payout ratio). The dividend has increased by an average of 2.4% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 5.9% to bring the payout ratio under control. EPS is expected to grow by 72% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Feb 09
Full year 2023 earnings released: EPS: €0.86 (vs €1.21 in FY 2022) Full year 2023 results: EPS: €0.86 (down from €1.21 in FY 2022). Revenue: €1.13b (down 9.5% from FY 2022). Net income: €69.9m (down 29% from FY 2022). Profit margin: 6.2% (down from 7.9% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Jan 31
Fiskars Group Announces Leadership Changes Fiskars Group plans to integrate sales operations into the Business Areas and is terminating the Group-level position of Chief Sales Officer, Europe and APAC (excl. China). As a result of this change, Gennady Jilinski will step out of the Leadership Team as of January 31, 2024 and leave the company. Announcement • Sep 27
Fiskars Group Announces Management Appointments Fiskars Group has appointed Dr. Steffen Hahn as the Executive Vice President of the new Business Area Fiskars and a member of the Fiskars Group Leadership Team. Steffen will start in his position on January 5, 2024 and report to President and CEO, Nathalie Ahlström. He will be based in Stockholm, Sweden. Steffen joins Fiskars Group from Weber Inc., where he held the position of President, EMEA and Global Commercial. Prior to Weber, he worked at McKinsey & Company and at Procter & Gamble. In addition to her role as President and CEO, Nathalie Ahlström will serve as the head of Business Area Fiskars until Steffen starts at Fiskars Group. Announcement • Sep 16
Fiskars Oyj Abp (HLSE:FSKRS) signed an agreement to acquire Georg Jensen Investment Aps from Investcorp for approximately €150 million. Fiskars Oyj Abp (HLSE:FSKRS) signed an agreement to acquire Georg Jensen Investment Aps from Investcorp for approximately €150 million on September 14, 2023. The consideration is based on cash free debt free basis. Fiskars Group will finance the transaction with debt and has agreed on bridge financing with Nordea Bank Abp and OP Corporate Bank Plc. Georg Jensen and its employees will join Fiskars Group. The deal is expected to close at the beginning of the fourth quarter, subject to customary closing conditions. The transaction is expected to be EPS dilutive in 2023 and 2024. Rothschild & Co. is acting as the sole financial advisor in connection with the transaction. Kromann Reumert acted as legal advisor of Investcorp. Announcement • Sep 08
Fiskars Corporation Approves Dividend Payment for Second Instalment, Payable on September 19, 2023 The Board of Directors of Fiskars Corporation has on September 7, 2023 resolved in accordance with the resolution of the Annual General Meeting that the dividend payment date for the second dividend instalment of EUR 0.40 per share shall be September 19, 2023. The ex-dividend date for the dividend instalment shall be September 11, 2023 and the record date September 12, 2023. New Risk • Jul 21
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 97% Cash payout ratio: 346% Dividend yield: 5.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Cash payout ratio: 346% Minor Risk Profit margins are more than 30% lower than last year (5.8% net profit margin). Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: €0.16 (vs €0.41 in 2Q 2022) Second quarter 2023 results: EPS: €0.16 (down from €0.41 in 2Q 2022). Revenue: €267.9m (down 16% from 2Q 2022). Net income: €12.6m (down 62% from 2Q 2022). Profit margin: 4.7% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Announcement • Jul 06
Fiskars Corporation Lowers Earnings Guidance for the Fiscal Year 2023 Fiskars Corporation lowers earnings guidance for the fiscal year 2023. For the year, the company expects comparable EBIT to be in the range of EUR 120-130 million. Previously the company expected comparable EBIT to be slightly below the 2022 level (2022: EUR 151.0 million). Buying Opportunity • May 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be €17.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.6% over the last 3 years. Earnings per share has grown by 25%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: €0.25 (vs €0.38 in 1Q 2022) First quarter 2023 results: EPS: €0.25 (down from €0.38 in 1Q 2022). Revenue: €274.9m (down 17% from 1Q 2022). Net income: €20.2m (down 35% from 1Q 2022). Profit margin: 7.3% (down from 9.4% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 1.6% decline forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 09
Upcoming dividend of €0.40 per share at 4.7% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 24 March 2023. Payout ratio is a comfortable 66% but the company is not cash flow positive. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (5.6%). Reported Earnings • Feb 08
Full year 2022 earnings released: EPS: €1.21 (vs €1.06 in FY 2021) Full year 2022 results: EPS: €1.21 (up from €1.06 in FY 2021). Revenue: €1.25b (flat on FY 2021). Net income: €98.2m (up 13% from FY 2021). Profit margin: 7.9% (up from 6.9% in FY 2021). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.6% decline forecast for the Consumer Durables industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. 
