Fiskars Oyj Abp · OMXHEX:FSKRS
Fiskars Oyj Abp — Q3 2025 Earnings Presentation
31 slides from Fiskars Oyj Abp's earnings presentation, Oct 23, 2025
Slide 1: Interim Report Q3 2025
Interim Report Q3 2025 NET SALES TURNED TO GROWTH, COMPARABLE EBIT DECLINED JANU ARY -SEPT EM BER 2025 DUE TO ADDITIONAL COSTS IN THE SUPPLY CHAIN
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 (Jyri Luomakoski) 2. Financials (Jussi Siitonen) 3. Business Areas (Jyri Luomakoski) 4. Guidance (Jyri Luomakoski) 5. Q&A 3 OCTOBER 23, 2025
Slide 4: Jyri Luomakoski appointed as President & CEO of Fiskars Corporation
Jyri Luomakoski appointed as President & CEO of Fiskars Corporation 4 OCTOBER 23, 2025
Slide 5: Key takeaways
Key takeaways Q3 COMPARABLE Q3 COMPARABLE BA FISKARS HAS NET SALES EBIT DECLINED DUE OVER DOUBLED T U R N E D TO TO ADDITIONAL ITS INNOVATION GROWTH, DRIVEN COSTS IN THE PIPELINE IN THE BY SEVERAL VITA SUPPLY CHAIN LAST 20 MONTHS BRANDS ACTIONS TO SOLID GROWTH REDUCE IN THE U.S. INVENTORIES IN BA VI
Slide 6: Q3 2025 Group key figures
Q3 2025 Group key figures: Net sales turned COMPARABLE EBIT, EURm 13.9 to growth while comparable EBIT declined Q3/2024: 24.3 COMPARABLE GM, % NET SALES, EURm COMPARABLE EBIT (EUR m) AND COMPARABLE EBIT MARGIN, % 46.7 Q3/2024: 48.1 1.3% EURm % 4.1%* 40 15 FREE CASH FLOW, EURm -10.2 300 292 293 34.1
Slide 7: Additional supply chain costs from tariffs and scale-down of production
Additional supply chain costs from tariffs and scale-down of production a key factor behind the decline in comp. EBIT GROUP Q3 2025 EBIT BA VITA Q3 2025 EBIT BA FISKARS Q3 2025 EBIT EXCL. IAC BRIDGE, EURm EXCL. IAC BRIDGE, EURm EXCL. IAC BRIDGE, EURm 30 -10.4 20 20 -1.0 -7.5 24.3 13.6 20 12.7 12.6 1
Slide 8: Increased YoY inventories continued to impact free cash flow
Increased YoY inventories continued to impact free cash flow in Q3 QUARTERLY FREE CASH FLOW, EURm Q3 AND YTD FREE CASH FLOW, EURm EURm EURm Q3-25 vs. LY YTD-25 vs. LY 100 200 EBITDA 30.6 + 10.6 69.4 + 1.4 78 +7 75 69 150 Change in provisions - 3.1 - 11.7 - 0.2 + 4.0 53 Non-cash adjustments 0.5 + 1.5
Slide 9: Net Debt to EBITDA above our target level of 2.5X
Net Debt to EBITDA above our target level of 2.5X – impacted by profit development and inventory pressures NET DEBT (EURm) AND NET DEBT / LTM EBITDA (EXCLUDING IAC) EURm Multiple 700 4.0x +0.9X 606 3.5x 600 563 556 529 510 3.0x 494 500 478 Financial Target 447 2.5x 400 370 Jensen 344 342 Georg 325 3
Slide 10: Business Area performance
Business Area performance 10 OCTOBER 23, 2025
Slide 11: BA Vita Q3: Broad-based net sales growth, comparable EBIT declined
BA Vita Q3: Broad-based net sales growth, comparable EBIT declined due to inventory-related actions NET SALES, EURm COMPARABLE EBIT (EURm) AND MARGIN, % • Comparable net sales increased by 5.9% 8.2% 8.2%* EURm % • Growth across geographies 147 24.5 24.6 150 140 139 25 20 134 • Most Vita brands growi
Slide 12: Business Area Vita highlights
Business Area Vita highlights Royal Copenhagen entered high- Iittala expanded to scented Moomin Arabia marked the 80th end glassware with crystal and candles shaped in the iconic Aalto anniversary year of Moomin with mouthblown pieces manufactured silhouette, potential to enter high- an online recor
Slide 13: BA Fiskars Q3: Comparable net sales relatively stable
BA Fiskars Q3: Comparable net sales relatively stable, profitability protected from tariff pressures NET SALES, EURm COMPARABLE EBIT (EURm) AND MARGIN, % • Comparable net sales decreased by 0.9% EURm % 157 160 151 20 15 • Solid performance in the U.S. -4.2% 140 -0.9%* 17.7 after a challenging Q2 121
Slide 14: Business Area Fiskars highlights
Business Area Fiskars highlights The Fiskars Ultra axe range Intensified focus on innovation – ‘Get to know Business Area reflects the ongoing refinement of BA Fiskars has over doubled its Fiskars’ investor event in Espoo Fiskars’ axe design, building on its innovation pipeline in the last 20 on Nov
Slide 15: We remain committed to our sustainability targets
We remain committed to our sustainability targets ENVIRONMENTAL SOCIAL Target Apr 1-9/2025 Target 2025 3.5 0 80 1-9/2025 1-9/2025 1-9/2025 77 27% -61% 65% Base year 2021 50% Base year 2017 -60% Target set 2020 80% in 2030 in 2030 in 2029 Measured in connection to the employee engagement survey. Late
Slide 16: The separation of BAs into subsidiaries advancing
The separation of BAs into subsidiaries advancing – legal entity structures by end of Q1 2026 Full business Transparency and Fiskars Vita measurability accountability End-to-end responsible More precise target business CEOs, improved setting and capital flexibility and speed allocation Independent D
Slide 17: Guidance for 2025
Guidance for 2025 Assumptions and actions behind the guidance (specified on October 23, 2025) - Negative supply chain variance from BA Vita’s scale-down + BA Vita’s positive net sales trend expected to of production to continue in Q4 Fiskars Corporation expects address elevated inventories comparabl
Slide 18: Key takeaways
Key takeaways Q3 COMPARABLE Q3 COMPARABLE BA FISKARS HAS NET SALES EBIT DECLINED DUE OVER DOUBLED T U R N E D TO TO ADDITIONAL ITS INNOVATION GROWTH, DRIVEN COSTS IN THE PIPELINE IN THE BY SEVERAL VITA SUPPLY CHAIN LAST 20 MONTHS BRANDS ACTIONS TO SOLID GROWTH REDUCE IN THE U.S. INVENTORIES IN BA VI
Slide 19: Q&A
Q&A 19 OCTOBER 23, 2025
Slide 20: Thank you!
Thank you! 20 OCTOBER 23, 2025
Slide 21: Appendix
FISKARS ss. GROUP 0 Appendix
Slide 22: Jyri Luomakoski—President and CEO
Jyri Luomakoski–President and CEO ABOUT JYRI: BOARD OF DIRECTORS OF FISKARS CORPORATION: • b. 1967 • Fiskars Corporation, Member of the • MBA Board 2016-2025 (Vice Chair of the • Finnish citizen Board 2018-2025, Chair of the Audit Committee 2016–2025, member of the Nomination Committee 2021–2022, an
Slide 23: 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 24: Consolidated Q3 and YTD 2025 Key Figures
Consolidated Q3 and YTD 2025 Key Figures Q3 P&L KEY FIGURES, EURm Q 3 P E R S H AR E K E Y F I G U R E S , E U R Q3 Q1-Q3 Q3 Q1-Q3 2025 2024 2025 2024 2025 2024 2025 2024 Net Sales 259.3 255.9 809.5 819.9 Comparable Earning per Share 0.08 0.16 0.17 0.47 Comparable Gross Profit 121.1 123.1 380.6 397.
Slide 25: YTD comparable EBIT EUR 43.6 million
YTD comparable EBIT EUR 43.6 million Q1-Q3 2025 EBIT EXCL. IAC BRIDGE, EURm EURm -24.9 70 68.5 65 60 55 50 45 43.6 40 35 30 25 20 15 10 5 0 YTD Volume Margin Marketing SG&A Other YTD Sep-24 Income Sep-25 25 OCTOBER 23, 2025
Slide 26: Items Affecting Comparability Q3 2025
Items Affecting Comparability Q3 2025 EBIT BRIDGE FROM IFRS EBIT TO EBIT EXCL IAC (EURM) IAC ADJUSTMENT BY P&L LINE ITEM (EURM) Q3-2025 Q1-Q3 2025 EBIT IFRS 12.0 12.6 Q3 2025 IFRS IAC Excl IAC Depreciation and amortization 18.7 56.7 Net sales 259.3 259.3 EBITDA 30.6 69.4 Cost of goods sold -138.9 0.
Slide 27: Progress in transformation levers
Progress in transformation levers Q3 2025 Q1-Q3 2025 Commercial • Gross margin -140 bps at 46.7% • Gross margin -150 bps at 47.0% excellence • Comparable DTC +10%: e-commerce +19%, • Comparable DTC +7%: e-commerce +8%, Direct to own retail network +6% own retail network +7% consumer • DTC share of n
Slide 28: Net Debt / EBITDA (LTM) for Q3 2025 at 3.70X
Net Debt / EBITDA (LTM) for Q3 2025 at 3.70X CAPITAL EMPLOYED EURm FINANCING, EURm Sep-25 Sep-24 Dec-24 Sep-25 Sep-24 Dec-24 Equity 693.7 750.8 796.5 GW and other intangible 562.8 594.2 604.2 Interest-bearing debt 503.7 429.6 407.1 PPE and biological assets 227.4 220.2 225.2 Lease liabilities 142.8
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 % +1.3% 60 20 +4.1%* 18 346 337 50 16 304 42.9 293 283 281 292 14 275 268 40 37.7 256 258 259 241 33.2 12 31.2 29.7 30 26.8 10 25.1 24.3 23.4 8 20 17.9 19.2 6 13.9 4 10 3.0 2 0 0 Q3 Q4
Slide 30: BA Vita's quarterly development
BA Vita’s quarterly development – last 3 years NET SALES, EURm COMPARABLE EBIT (EURm) AND EBIT MARGIN, % +5.9% +8.2%* EURm % 220 215 210 40 25 200 35.9 34.7 33.3 20 180 176 30 15 160 147 24.6 140 139 140 126 130 127 125 10 119 20 16.9 120 108 114 5 100 12.7 0 80 10 7.8 5.2 -5 60 3.0 1.6 1.3 0 -10 40
Slide 31: BA Fiskars' quarterly development
BA Fiskars’ quarterly development – last 3 years NET SALES, EURm COMPARABLE EBIT (EURm) AND EBIT MARGIN, % -4.2% -0.9%* EURm % 180 167 40 25 164 160 151 153 156 150 30.6 30.6 29.5 20 140 131 30 127 130 126 24.7 121 115 22.3 120 110 15 20 100 15.2 13.6 14.0 12.6 10 11.1 11.9 80 10 7.4 60 5 40 0 0 20