Fiskars Oyj Abp · OMXHEX:FSKRS

Fiskars Oyj Abp — Fiskars Group — Investor Presentation (May 2025)

64 slides from Fiskars Oyj Abp's investor presentation, May 2025

  1. Slide 1: Investor presentation

    Investor presentation UPDATED MAY 2025

  2. Slide 2: Content

    Content Fiskars Group in brief Strategy Financials Q1 2025 Appendices 2 MAY 2025 Ⓒ FISKARS GROUP

  3. Slide 3: Pioneering design to make the everyday extraordinary

    Fiskars Group – Pioneering design to make the everyday extraordinary Est. 1649 Est. 1904 Est. 1775 Est. 1759 Est. 1939 Arabia est. 1873 Est. 1881 Est. 1783 3 MAY 2025 Ⓒ FISKARS GROUP

  4. Slide 4: Well-balanced footprint with ~30% of net sales from the U.S. and 20% from Asia

    Well-balanced footprint with ~30% of net sales from the U.S. and 20% from Asia ~130 NORTH AMERICA Nordics APAC ~20 ~30% of net sales ~20% of net sales UK & Ireland ~20 ~50 ~100 Continental Europe China Japan ~70 EUROPE Global presence +100 countries ~50% of net sales Rest of APAC ~500 own stores +60

  5. Slide 5: Fiskars Group key figures 2024

    Fiskars Group key figures 2024 Net sales Comparable EBIT EUR million EUR million 1,157.1 111.4 Comparable EPS Gross margin EUR % 1.07 48.8 Free cash flow Personnel EUR million Dec 31, 2024 81.7 6,850 5 MAY 2025 Ⓒ FISKARS GROUP

  6. Slide 6: Fiskars Group – Net sales splits (2024)

    Fiskars Group– Net sales splits (2024) SALES SPLIT BY BRAND SALES SPLIT BY CHANNEL SALES SPLIT BY GEOGRAPHY Georg Jensen 12% Royal Direct Americas Copenhagen 28% 29% Fiskars 9% 38% 8% 51% Europe Wedgwood 7% Iittala 72% 5% Indirect 20% Gerber 8% 4% Waterford 1% 8% Moomin Asia-Pacific Others Arabia Fi

  7. Slide 7: Two strong Business Areas with design-driven brands

    Two strong Business Areas (BA) with design-driven brands for both indoor and outdoor living FISKARS VITA BUSINESS AREAS SHARE OF NET SALES* 47% 52% KEY CATEGORIES Gardening Outdoor Cooking Scissors Creating Tableware Drinkware Interior Jewelry KEY BRANDS 7 MAY 2025 Ⓒ FISKARS GROUP *remaining 1% of n

  8. Slide 8: Business Area Vita in brief

    Business Area Vita in brief • Premium and luxury products for the tableware, drinkware, jewelry and interior categories • Its well-known brands include Georg Jensen, Tableware Drinkware Interior Jewelry Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford • Already 50% of BA Vita’s net s

  9. Slide 9: Business Area Vita – Net sales splits (2024)

    Business Area Vita – Net sales splits (2024) SALES SPLIT BY BRAND SALES SPLIT BY CHANNEL SALES SPLIT BY GEOGRAPHY Arabia Others Americas Rörstrand 5% Royal Albert Georg Jensen 10% 3% 3% Royal Doulton 23% 3% 1% Moomin Arabia 8% Indirect 50% 50% Direct Waterford 9% Asia-Pacific 35% 55% Europe 18% Roya

  10. Slide 10: Direct-to-Consumer is key to Vita

    Direct-to-Consumer is key to Vita – The BA had approx. 500 own stores in 2024 STORES BY TYPE STORES BY GEOGRAPHY Stores 16% Europe 32% Outlets 14% 68% 70% Asia-Pacific Concessions 10 MAY 2025 Ⓒ FISKARS GROUP

  11. Slide 11: Business Area Vita quarterly figures

    Business Area Vita quarterly figures % NET SALES AND COMPARABLE EBIT MARGIN EURm 220 215 210 30 200 180 176 160 20.4% 140 139 20 140 17.5% 130 127 126 127 121 119 16.2% 15.9% 120 114 108 14.1% 100 11.4% 80 8.9% 9.1% 10 60 7.2% 40 2.6% 20 1.3% 1.0% 0.0% 0 0 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q

  12. Slide 12: Business Area Fiskars in brief

    Business Area Fiskars in brief • A market leader in its categories: BA Fiskars consists of the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories • The brands include Fiskars and Gerber Gardening Outdoor Cooking Scissors Creating • Sales primari

  13. Slide 13: Business Area Fiskars – net sales splits (2024)

    Business Area Fiskars – net sales splits (2024) SALES SPLIT BY CATEGORY SALES SPLIT BY CHANNEL SALES SPLIT BY GEOGRAPHY Creating Other Direct 5% 1% 3% Cooking 10% Scissors 13% Europe 46% 50% Americas 54% Gardening 16% Outdoor 97% 4% Indirect Asia-Pacific 13 MAY 2025 Ⓒ FISKARS GROUP

  14. Slide 14: Business Area Fiskars quarterly figures

    Business Area Fiskars quarterly figures NET SALES AND COMPARABLE EBIT MARGIN * EURm % 220 211 30 200 191 180 20.6% 167 164 18.3% 156 18.7% 20 160 151 153 150 16.1% 18.9% 14.8% 140 14.0% 130 127 126 121 120 10.1% 115 9.1% 9.5% 10 11.8% 100 5.7% 80 60 -2.2% 0 40 20 0 -10 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23

  15. Slide 15: Seasonal volatility: BA Fiskars H1, BA Vita H2 focused

    Seasonal volatility: BA Fiskars H1, BA Vita H2 focused – Group net sales and EBIT evenly split between quarters QUARTERLY NET SALES BY BA QUARTERLY NET SALES SPLIT BY BA 22% 28% Q4 35% Vita 43% 42% 52% 50% Net 23% 62% 23% Q3 Sales 24% 28% 24% Q2 20% Fiskars 57% 58% 48% 50% 38% 21% 28% 24% Q1 Vita Fi

  16. Slide 16: Strategy

    Content Fiskars Group in brief Strategy Financials Q1 2025 Appendices 16 MAY 2025 Ⓒ FISKARS GROUP

  17. Slide 17: Long-term market dynamics remain attractive

    Long-term market dynamics remain attractive POWERFUL STRENGTH OF IMPORTANCE OF LUXURY IS SUSTAINABILITY BRANDS THAT INNOVATION & DIRECT-TO- ATTRACTIVE IS KEY SURROUND THE DESIGN CONSUMER LONG-TERM CONSUMER Truly innovative Integral to buyer’s 6-8% CAGR 58% of consumers 50% of consumers consumer prod

  18. Slide 18: Our clear Growth Strategy sets the framework for our choices

    Our clear Growth Strategy sets the framework for the choices we make – we are increasingly value-driven WE FOCUS ON WINNING: LOGIC Transformation Brands Channels Countries levers making our foundation stronger Commercial excellence Direct-to-Consumer Sharpened portfolio TRANSFORMATION LEVERS logic –

  19. Slide 19: Commercial Excellence: Focused actions to take our brands where they deserve to be

    Commercial Excellence: Focused actions to take our brands where they deserve to be • Executing channel GROSS MARGIN HAS IMPROVED CLEARLY strategy: • Prioritize own channels >49% 50 48.8% • Win with the winning partners 48 46.8% • Leave unhealthy business behind 46 44.9% • Utilize our full portfolio

  20. Slide 20: Direct-to-Consumer: We continue to grow in DTC

    Direct-to-Consumer: We continue to grow in DTC – consumer appetite for our brands is strong SHARE OF DTC SALES HAS GROWN STEADILY • Leveraging e-commerce capabilities Share of Group net sales Share of Vita net sales • Continuing systematic roll- 60 out of digital and analytics 50% >50% capabilities

  21. Slide 21: China: Strong growth through a repeatable model

    China: Strong growth through a repeatable model is strengthening our #1 position • Benefiting from brand heat – CHINA NET SALES RESILIENT IN 2024 EURm Wedgwood clear #1 in its category 70 CAGR +34% • Leveraging our platform: Strong 60 56 56 local team with impressive track record and capabilities 50

  22. Slide 22: U.S.: Adverse development driven by retailers' inventory management

    U.S.: Adverse development driven by retailers’ focus on inventory management • Tough market environment – U.S. NET SALES DECLINED IN 2024* EURm retailers’ focus on inventory management continues CAGR -4% • Gross margin has improved 450 404 driven by our channel strategy 400 375 374 and price increas

  23. Slide 23: Sharpened portfolio logic accelerating Group profile improvement

    Sharpened portfolio logic accelerating Group profile improvement SHARPENED PORTFOLIO LOGIC OUTCOME: ACCELERATED GROUP PROFILE IMPROVEMENT Increase focus on brands which can: • Move the needle – make the big brands bigger and more powerful • Surround the consumer through category expansion Faster gro

  24. Slide 24: Clear portfolio roles for each brand

    Clear portfolio roles for each brand with investments and resources allocated accordingly Maximise Accelerate potential MAKE THE BIG BRANDS BIGGER • Accelerate: Over-invest to grow Winning DTC first, across key cities & Three large categories luxury brands • Anchor: Unlock Fiskars brand Utilize pote

  25. Slide 25: Systematic approach to M&A – case Georg Jensen

    Reshaping our portfolio inorganically: Systematic & disciplined approach to M&A – case Georg Jensen Fiskars Group M&A playbook Identify & Acquire Integrate Operate ▪ Confirmed strategic fit, ▪ Performance in line with business case • Strategy building on complementary strengths Case category expansi

  26. Slide 26: Separating Business Areas into independent companies

    Next step of transformation journey: Completing “brands first” approach by separating Business Areas into independent companies 2020: 2023: FEBRUARY 1, 2025: BAs as product owner, part of BAs as business owner, BAs as operationally independent Group-wide matrix organization P&L accountable companies

  27. Slide 27: New way of operating enables speed of execution

    New way of operating enables speed of execution, and is a key enabler for future growth Full business Dedication accountability Accelerate differing End-to-end responsible growth opportunities – business CEOs, improved make big brands bigger flexibility and speed Transparency and Independent legal m

  28. Slide 28: Our enablers for the future

    Our enablers for the future PEOPLE DIGITAL INNOVATION & SUSTAINABILITY DESIGN We are committed to We want to be We are committed to building an inclusive data-driven, and are We are known for our designing and delivering culture. We want to investing significantly design, and want to sustainable gro

  29. Slide 29: We remain committed to sustainability

    We remain committed to sustainability – Supplier target ambition raised ENVIRONMENTAL SOCIAL Target May Q1 2025 Target 2024 2024 2.5 0 80 Q1 2025 Q1 2025 -44% * Q1 2025 77 27% -56% 64% Base year 2021 50% Base year -60% Base year -30% Target set 80% 2017 2018 in 2030 2020 in 2030 in 2030 in 2029 Meas

  30. Slide 30: Fiskars Group sets a long-term net-zero target

    Fiskars Group sets a long-term net-zero target I Our plan is to reduce climate emissions to net zero by 2049, which also marks the Group’s 400th anniversary year.

  31. Slide 31: Financials

    Content Fiskars Group in brief Strategy Financials Q1 2025 Appendices 31 MAY 2025 Ⓒ FISKARS GROUP

  32. Slide 32: Group net sales and gross margin development

    Group net sales and gross margin development EURm % 1,400 30 1,254 1,248 1,205 1,186 1,200 1,119 1,129 1,157 1,107 1,090 1,116 1,000 20 800 600 43.3% 44.9% 46.8% 48.8% 42.5% 43.2% 43.4% 38.7% 41.0% 40.9% 10 400 200 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net sales Gross margin 32 MAY 2

  33. Slide 33: Profitability development

    Profitability development EURm % 160 154 151 14 12.3% 12.1% 140 12 9.8% 110 111 120 109 9.8% 9.6% 109 10 100 7.1% 9.8% 8 80 78 6 60 4 40 20 2 0 0 2018 2019 2020 2021 2022 2023 2024 Comparable EBIT margin Comparable EBIT 33 MAY 2025 Ⓒ FISKARS GROUP

  34. Slide 34: Fiskars Group's quarterly development – last 3 years

    Fiskars Group’s quarterly development – last 3 years NET SALES, EURm COMPARABLE EBIT (EURm) AND EBIT MARGIN, % EURm % +3.2% 60 20 +1.7%* 51.8 18 346 337 50 333 16 319 304 42.9 293 283 281 292 14 275 268 40 37.7 256 36.3 241 33.2 12 31.2 29.7 30 26.8 10 25.1 24.3 23.4 8 20 17.9 19.2 6 4 10 2 0 0 Q1 Q

  35. Slide 35: Progress in sales and EBIT targets

    Challenging operating environment reflected in progress in sales and EBIT targets FINANCIAL TARGETS TRACKING LAST LAST KPI TARGET 2021 2022 2023 2024 12 months 3 YEARS Organic, FX neutral NET CAGR. CAGR. Mid-Single-Digit +14.2% +1.7% -9.7% -5.0% SALES growth -0.1% -4.4% Mid-teen EBIT EBIT margin (ex

  36. Slide 36: Growth investments' share of CAPEX allocation will increase

    Growth investments’ share of CAPEX allocation will increase COMMENT NEXT 2YRS FISKARS VITA • CAPEX 4-5% of • 60% Expansion Net Sales Retail 7% • 40% Renovation/maintenance (earlier approx. 4%) Functions 12% • Growth investments’ Product Development 12% share in Retail, Supply Chain and Digital will

  37. Slide 37: Strong balance sheet has enabled steady investments

    Strong balance sheet has enabled steady investments NET DEBT / EQUITY AT QUARTER- CASH FLOW FROM OPERATIONS (CFO), CAPEX AND CASH RETURNS TO END AND LONG-TERM AVERAGE (%) SHAREHOLDERS 80 236 EURm 70 250 Net Debt / 203 60 Equity 50 200 40 39% 128 133 30 150 20 99 128 116 115 10 100 84 47 0 75 81 50 5

  38. Slide 38: Solid cash position enables an increasing dividend

    Solid cash position enables an increasing dividend: 0.84 per share COMP. EPS AND DPS 2019-2024 CEPS AND DPS 2019-2024 2.4% EUR EUR Dividend growth 2.68 2023-2024 1.37 2.46 1.19 1.16 5.2%* 0.99 1.07 1.51 Dividend yield 0.80 0.82 0.84 0.76 1.39 0.60 79% 0.60 0.76 0.80 0.82 0.84 Payout Ratio on comp. E

  39. Slide 39: Q1 2025

    Content Fiskars Group in brief Strategy Financials Q1 2024 Appendices 39 MAY 2025 Ⓒ FISKARS GROUP

  40. Slide 40: Highlights

    Highlights POSITIVE START GROWTH ACROSS SEPARATION OF GUIDANCE FOR TO THE YEAR: DIRECT-TO- B U S I N E SS A R E A S : 2025 INTACT: CONSUMER C O M P A R A BL E E B I T CHANNELS +9% O R G A N I ZA T I O N INCREASED TO OPERATIONALLY EUR 27M HIGHLIGHTING C O M P A R A BL E E B I T IN FORCE TWO THE STREN

  41. Slide 41: Q1 2025 Group key figures

    Q1 2025 Group key figures – net sales and COMPARABLE EBIT, EURm 26.8 comparable EBIT increased Q1/2024: 25.1 GROSS MARGIN, % NET SALES, EURm COMPARABLE EBIT (EUR m) AND COMPARABLE EBIT MARGIN, % 47.5 Q1/2024: 48.3 EURm % +3.2% 60 20 FREE CASH FLOW, EURm +1.7%* -17.4 350 333 51.8 302 50 46.6 300 283

  42. Slide 42: Business Area specific gross margins

    First time reporting Business Area specific gross margins: In Q1 2025, BA Vita’s GM increased while Fiskars’ declined BA Vita Gross Margin, % BA Fiskars Gross Margin, % 60% 45% +90 bps -160 bps 58% 40% 56% 35% 54% 30% 52% 50% 25% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q

  43. Slide 43: Comparable EBIT increased supported by net sales growth

    Fiskars Group’s comparable EBIT increased supported by net sales growth, even with significant investments into marketing Q1 2025 EBIT EXCL. IAC BRIDGE, EURm 40 +1.7 26.8 25.1 20 0 Q1-24 Sales Volume GM Marketing SG&A Other Q1-25 Income 43 MAY 2025 Ⓒ FISKARS GROUP

  44. Slide 44: Q1 2025 free cash flow followed its typical pattern

    Q1 2025 free cash flow followed its typical historical pattern QUARTERLY FREE CASH FLOW, EURm Q1 FREE CASH FLOW, EURm EURm EURm Q1-25 Q1 vs. LY EBITDA 14.3 - 13.0 100 200 Change in provisions -3.5 + 6.6 78 +3 75 69 150 Non-cash adjustments 26.1 + 27.0 53 49 Cash Flow from operations 36.9 + 20.7 100

  45. Slide 45: Net Debt to EBITDA at 2.90x

    Net Debt to EBITDA at 2.90x, slightly down from last year, and 0.35x up from the year-end, in line with the seasonal trend. NET DEBT (EURm) AND NET DEBT / LTM EBITDA (EXCLUDING IAC) EURm Multiple -0.02 +0.35 +0.38 600 3,0x 3.0x 563 529 510 500 Financial Target 494 478 2,5x 2.5x 447 400 2,0x 2.0x 370

  46. Slide 46: Business Area performance

    Business Area performance 46 MAY 2025 Ⓒ FISKARS GROUP

  47. Slide 47: Vita BA Q1: Net sales increased

    Vita BA Q1: Net sales increased, strong performance by Royal Copenhagen and Moomin Arabia NET SALES, EURm COMPARABLE EBIT (EURm) AND MARGIN, % +0.9% • Comparable net sales increased +0.5%* EURm % slightly by 0.5% 140 12 15 126 127 10.6 10.7 121 • Strong performances of the Royal 120 10 108 108 Copen

  48. Slide 48: Business Area Vita highlights

    Business Area Vita highlights Vita organization Strong growth of DTC Royal Copenhagen Iittala delivering good structure simplified to +9% highlights the and Moomin Arabia growth one year since its enable investments power of Vita’s brands continued their good brand renewal into demand creation growt

  49. Slide 49: Daniel Lalonde appointed as CEO of Vita

    Daniel Lalonde appointed as CEO of Vita ABOUT DANIEL: EXPERIENCE: • b. 1963 • Flos B&B Italia Group; Group CEO; 2021- 2024 • Bachelor of Mathematics, MBA • SMCP; Group CEO; 2014-2021 • Canadian and French citizen • Ralph Lauren Corporation; President, • Based in Copenhagen, Denmark International; 20

  50. Slide 50: BA Fiskars Q1: Net sales increased

    BA Fiskars Q1: Net sales increased driven by distribution gains in the U.S., comparable EBIT also improved NET SALES, EURm COMPARABLE EBIT (EURm) AND MARGIN, % • Comparable net sales increased by EURm % 2.6% 220 211 +4.8% 50 25 +2.6%* 200 193 43.5 • Distribution gains in the U.S. and 180 167 40 39.3

  51. Slide 51: Business Area Fiskars highlights

    Business Area Fiskars highlights March madness? Fiskars brand Expansion of indoor Classic scissors win Red Fiskars orange-handled distribution gains in the gardening range to tap into Dot Product Design scissors are the official U.S. boosted growth the consumer segment of award, 65th win in scissors

  52. Slide 52: Tariffs & guidance

    Tariffs & guidance 52 MAY 2025 Ⓒ FISKARS GROUP

  53. Slide 53: Tariffs are a key factor in current market uncertainty

    Tariffs are a key factor in current market uncertainty • Visibility in the market is exceptionally limited, and the situation is continuously evolving • U.S. exposure: ~ 30% of Fiskars Group's net sales, ~ 50% of Business Area Fiskars’ net sales • Expected impacts: Direct impacts on sourcing costs,

  54. Slide 54: BA Fiskars generates most of FY EBIT in H1 – Vita is Q4-heavy

    BA Fiskars is expected to generate most of its FY EBIT in H1 – Vita is Q4-heavy, where tariff impacts remain uncertain Seasonal Net Sales split by BA (Full Year 2024) • Net sales distribution has typically been H2 biased in BA Q1 Q2 Q3 Q4 Vita and H1 biased in BA Fiskars Vita 21% 21% 23% 35% • BA Fi

  55. Slide 55: Guidance for 2025 (unchanged)

    Assumptions and actions behind the guidance Guidance for 2025 - The operating + Gross margin resilience is (unchanged) environment is expected to support EBIT unpredictable + Pricing adjustments and - Tariffs are expected to ongoing productivity Fiskars Corporation expects increase sourcing costs di

  56. Slide 56: Appendices

    Content Fiskars Group in brief Strategy Financials Q1 2025 Appendices 56 MAY 2025 Ⓒ FISKARS GROUP

  57. Slide 57: Largest shareholders as of March 31, 2025

    Largest shareholders as of March 31, 2025 NUMBER OF % OF SHARES AND # SHAREHOLDER NAME SHARES VOTES 1 Virala Oy Ab 12,777,500 15.77% 2 Turret Oy Ab 11,430,961 14.11% 3 Holdix Oy Ab 10,165,537 12.55% 4 Bergsrådinnan Sophie von Julins Stiftelse 2,556,000 3.16% 5 Oy Julius Tallberg Ab 2,554,350 3.15% 6

  58. Slide 58: Leadership Team

    Leadership Team Jyri Luomakoski Jussi Siitonen Aamir Shaukat Fiskars Group’s President CFO Executive Vice President, Group & CEO (interim) Employed 2021 Operations and Sustainability Employed 2023 Daniel Lalonde Dr. Steffen Hahn CEO of Vita CEO of Fiskars Employed 2025 Employed 2024 58 MAY 2025 Ⓒ FI

  59. Slide 59: Members of the Board of Directors in 2025

    AG 2025 Members of the Board of Directors in 2025 Paul Ehrnrooth Rolf Ladau Albert Ehrnrooth Louise Fromond Julia Goldin Carl-Martin Lindahl Jyri Luomakoski Susan Repo Susanne Skippari 59 MAY 2025 Ⓒ FISKARS GROUP

  60. Slide 60: Cost of Goods Sold

    Cost of Goods Sold COGS TOTAL OWN PRODUCTION DIRECT MATERIALS 100% 100% 100% Plastics Logistics & Warehousing Steel Direct materials 75% 75% 75% Aluminium Packaging Sourcing 50% 50% Direct labour 50% Components Indirect labour 25% Own 25% 25% Production Energy Maintenance material Other Depreciation

  61. Slide 61: Fiskars was founded in 1649, Group formed through strategic acquisitions

    Fiskars was founded in 1649, Fiskars Group was formed through strategic acquisitions Georg Jensen Waterford, joins Fiskars Wedgwood, & Royal Group Gerber joins Doulton join Fiskars Fiskars Group Group Our luxury home brand portfolio’s Fiskars 1986 2015 share of the Group’s manufactures Fiskars Group

  62. Slide 62: Calculation of financial indicators

    Calculation of financial indicators INDICATOR DEFINITION EBIT Operating profit Comparable EBIT Operating profit (EBIT) +/- items affecting comparability Items such as restructuring costs, impairment or provision charges and releases, acquisition related Items affecting comparability costs, and gains

  63. Slide 63: Disclaimer

    Disclaimer This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Although Fiskars Group believes that the expectations reflected in such forward-looking statements are reasonable, no as

  64. Slide 64: Thank you!

    Thank you!

Fiskars Group — Investor Presentation (May 2025) on 6ix