Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Q2 2025 Earnings Presentation
31 slides from Fiskars Oyj Abp's earnings presentation, Jul 17, 2025
Slide 1: Half-year Financial Report 2025
Half-year Financial Report 2025 NET SALES AND COMPARABLE EBIT DECLINED IN A JANU ARY -JU NE 2025 CHALLENGING MARKET ENVIRONMENT CHARACTERIZED BY TARIFF-DRIVEN UNCERTAINTY
Slide 2: 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
Slide 3: Agenda
Agenda 1. Key takeaways 2. Financials 3. Business Areas 4. Tariffs & guidance 5. Q&A 3 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 4: Key takeaways
Key takeaways Q2 COMPARABLE Q2 COMPARABLE 2/4 GUIDANCE FOR NET SALES -7% EBIT DECREASED TRANSFORMATION 2025 (UPDATED TO LEVERS JUNE 12, 2025): DRIVEN EUR 3 MILLION DELIVERING: PARTICULARLY BY DECLINES IN THE DRIVEN BY LOWER Q2 DIRECT-TO- U.S. VOLUMES AND C O M P A R A BL E E B I T CONSUMER +4% DECLI
Slide 5: Q2 2025 Group key figures
Q2 2025 Group key figures – net sales and COMPARABLE EBIT, EURm 3.0 comparable EBIT declined Q2/2024: 19.2 COMPARABLE GM, % NET SALES, EURm COMPARABLE EBIT (EUR m) AND COMPARABLE EBIT MARGIN, % 46.8 Q2/2024: 49.1 EURm % -8.1% 50 15 FREE CASH FLOW, EURm 12.4 350 -6.8%* 41.4 319 307 13.5% 300 281 40 3
Slide 6: Fiskars Group's comparable EBIT declined
Fiskars Group’s comparable EBIT declined, driven by lower volumes as well as negative tariff impacts Q2 2025 EBIT EXCL. IAC BRIDGE, EURm -16.2 20 19.2 15 10 5 3.0 0 -5 Q2-24 Sales Volume GM Tariff impact Marketing SG&A Other Q2-25 Income 6 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 7: H1 P&L profiles
H1 P&L profiles – Fiskars BA continues demonstrating high SG&A efficiency, Vita weighed by DTC OPEX structure COMPARABLE GROSS MARGIN SG&A AND MARKETING COMPARABLE EBIT MARGIN Vita 55.5% 58.6% -2.6% Fiskars 40.0% 25.5% 15.1% Group 47.2% 42.5% 5.4% 7 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL RE
Slide 8: Q2 2025 free cash flow decreased
Q2 2025 free cash flow decreased from all-time high comparison, due increased inventories QUARTERLY FREE CASH FLOW, EURm Q2 FREE CASH FLOW, EURm EURm EURm Q2-25 Q2 vs. LY EBITDA 24.4 + 3.0 100 -37 200 Non-cash adjustments 6.1 + 8.7 78 75 69 150 Cash Flow from operations 30.5 + 11.7 53 49 Change in i
Slide 9: Net Debt to EBITDA at 3.16x
Net Debt to EBITDA at 3.16x driven by a lower LTM EBITDA NET DEBT (EURm) AND NET DEBT / LTM EBITDA (EXCLUDING IAC) EURm Multiple +0.48X 600 3.5x 563 556 529 510 500 494 3.0x 478 447 Financial Target 2.5x 400 370 344 342 336 187 325 2.0x 300 Georg Jensen 1.5x 222 200 1.0x 260 100 0.5x 0 0.0x Q2-22 Q3
Slide 10: Business Area performance
Business Area performance 10 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 11: Vita BA Q2
Vita BA Q2: Net sales decreased driven by weak Waterford performance, growth in China and with Moomin Arabia COMPARABLE EBIT (EURm) AND NET SALES, EURm MARGIN, % • Comparable net sales decreased 2.8% -3.6% EURm % -2.8%* • Decrease driven by the weak 140 130 15 14.4 15 performance of Waterford in 127
Slide 12: Business Area Vita highlights
Business Area Vita highlights China Q2 +12% – good performance Moomin Arabia continues strong with new water bottle category and growth during the Moomin 80th the Arabia brand anniversary year 12 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 13: BA Fiskars Q2
BA Fiskars Q2: Net sales decreased driven by declines in the U.S., continued strong growth in Germany NET SALES, EURm COMPARABLE EBIT (EURm) AND MARGIN, % • Comparable net sales decreased by 11.0% EURm % 200 191 191 -12.7% 30 28.7 20 • Decline driven by declines and -11.0%* 26.7 24.7 distribution lo
Slide 14: Business Area Fiskars highlights
Business Area Fiskars highlights Continued strength in Germany 6th generation Fiskars Classic through distribution gains and Scissors launched successful campaigns 14 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 15: We remain committed to sustainability
We remain committed to sustainability – good progress in circularity and emissions targets ENVIRONMENTAL SOCIAL Target Apr 1-6/2025 Target 2024 3.3 0 80 1-6/2025 1-6/2025 1-6/2025 77 29% -59% 65% Base year 2021 50% Base year 2017 -60% Target set 2020 80% in 2030 in 2030 in 2029 Measured in connectio
Slide 16: Tariffs & guidance
Tariffs & guidance 16 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 17: Tariffs are a key factor in current market uncertainty
Tariffs are a key factor in current market uncertainty • U.S. exposure: ~ 30% of Fiskars Group's net sales, ~ 50% of Business Area Fiskars’ net sales • Indirect impacts: The indirect impacts, particularly on retailer demand and inventory behavior, have materialized more rapidly and negatively than p
Slide 18: Tariff impacts more pronounced with BA Fiskars
Tariff impacts more pronounced with BA Fiskars Q2 2025 BA VITA EBIT EXCL. IAC BRIDGE, EURm Q2 2025 BA FISKARS EBIT EXCL. IAC BRIDGE, EURm 8 25 -8.3 22.3 6 20 4 -9.4 2 1.6 15 14.0 0 10 -2 -4 5 -6 -8 0 -7.8 Q2-24 Sales GM Tariff Marketing SG&A Other Q2-25 Q2-24 Sales GM Tariff Marketing SG&A Other Q2-
Slide 19: Guidance for 2025
Assumptions and actions behind the guidance Guidance for 2025 - The operating + Pricing adjustments (updated on June 12, 2025) environment is and ongoing challenging productivity initiatives are - Tariffs are expected to expected to support Fiskars Corporation expects increase sourcing costs directl
Slide 20: Key takeaways
Key takeaways Q2 COMPARABLE Q2 COMPARABLE 2/4 GUIDANCE FOR NET SALES -7% EBIT DECREASED TRANSFORMATION 2025 (UPDATED TO LEVERS JUNE 12, 2025): DRIVEN EUR 3 MILLION DELIVERING: PARTICULARLY BY DECLINES IN THE DRIVEN BY LOWER Q2 DIRECT-TO- U.S. VOLUMES AND C O M P A R A BL E E B I T CONSUMER +4% DECLI
Slide 21: Q&A
Q&A 21 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 22: Thank you!
Thank you! 22 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 23: Appendix
FISKARS ss. GROUP 0 Appendix
Slide 24: Consolidated Q2 2025 Key Figures
Consolidated Q2 2025 Key Figures Q2 P&L KEY FIGURES, EURm Q 2 P E R S H AR E K E Y F I G U R E S , E U R Q2 Q2 2025 2024 2025 2024 Net Sales 258.3 281.0 Comparable Earning per Share -0.05 0.10 Comparable Gross Profit 120.9 138.0 Earnings per Share -0.03 -0.08 Sales and Marketing -82.1 -81.2 Cash Ear
Slide 25: H1 EBIT EUR 29.8 million
H1 EBIT EUR 29.8 million H1 2025 EBIT EXCL. IAC BRIDGE, EURm 60 -14.5 44.2 40 29.8 20 0 H1-24 Sales Volume GM Tariff impact Marketing SG&A Other H1-25 Income 25 JULY 17, 2025 FISKARS GROUP HALF-YEAR FINANCIAL REPORT 2025
Slide 26: Items Affecting Comparability Q2 and H1 2025
Items Affecting Comparability Q2 and H1 2025 EBIT Bridge from IFRS EBIT to EBIT excl IAC (EURm) IAC adjustment by P&L Line Item (EURm) Q2-25 H1-25 Q2-25 IFRS IAC Excl IAC EBIT, IFRS 5.2 0.7 Net sales 258.3 - 258.3 Depreciation and amortization 19.2 38.1 Cost of goods sold - 138.4 1.0 - 137.4 EBITDA
Slide 27: Transformation levers are making our foundation stronger
Transformation levers are making our foundation stronger for future growth Q2 2025 Q1-Q2 2025 Commercial • Gross margin -230 bps at 46.8% • Gross margin -150 bps at 47.2% excellence • Comparable DTC +4%: e-commerce -1%, • Comparable DTC +5%: e-commerce +2%, Direct to own retail network +6% own retai
Slide 28: Net Debt / EBITDA for Q2 2025 at 3.16X
Net Debt / EBITDA for Q2 2025 at 3.16X CAPITAL EMPLOYED EURm FINANCING, EURm June-25 June-24 June-25 June-24 GW and other intangible 565.5 595.9 Equity 691.5 757.6 Interest-bearing debt 483.1 413.7 PPE and biological assets 224.2 215.6 Lease liabilities 145.3 150.2 Capitalised leases (ROU) 135.7 141
Slide 29: Fiskars Group's quarterly development
Fiskars Group’s quarterly development – last 3 years NET SALES, EURm COMPARABLE EBIT (EURm) AND EBIT MARGIN, % EURm % -8.1% 60 20 -6.8%* 18 346 337 50 319 16 304 42.9 293 283 281 292 14 275 268 40 37.7 256 258 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 3.0 2 0 0 Q2 Q3
Slide 30: BA Vita's quarterly development
BA Vita’s quarterly development – last 3 years NET SALES, EURm COMPARABLE EBIT (EURm) AND EBIT MARGIN, % -3.6% -2.8%* EURm % 220 215 210 40 25 200 35.9 34.7 33.3 20 180 176 30 15 160 24.6 140 139 140 127 126 130 127 125 10 119 20 16.9 120 108 114 14.4 5 100 12.7 0 80 10 7.8 3.0 -5 60 1.6 1.3 0 -10 4
Slide 31: BA Fiskars' quarterly development
BA Fiskars’ quarterly development – last 3 years NET SALES, EURm COMPARABLE EBIT (EURm) AND EBIT MARGIN, % EURm % -12.7% 200 191 -11.0%* 40 25 167 164 30.6 30.6 153 156 150 29.5 20 151 30 26.7 150 24.7 127 130 126 131 22.3 121 15 115 20 15.2 14.0 100 13.6 10 11.1 11.9 10 7.4 5 50 0 0 -2.8 0 -10 -5 Q