Slide 1: Investor presentation
Investor presentation UPDATED MARCH 2025
Slide 2: Content
Content Fiskars Group in brief Strategy Financials Q4 2024 Appendices 2 MARCH 2025 Ⓒ FISKARS GROUP
Slide 3: Fiskars Group – 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 MARCH 2025 Ⓒ FISKARS GROUP
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
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 MARCH 2025 Ⓒ FISKARS GROUP
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
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 MARCH 2025 Ⓒ FISKARS GROUP *remaining 1% of
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
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
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 MARCH 2025 Ⓒ FISKARS GROUP
Slide 11: Business Area Vita quarterly figures
Business Area Vita quarterly figures % NET SALES AND COMPARABLE EBIT MARGIN EURm 220 215 210 30 200 187 180 176 160 20.4% 140 139 20 140 17.5% 130 17.0% 127 126 121 119 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% 0.0% 0 0 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23
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
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 MARCH 2025 Ⓒ FISKARS GROUP
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% 165 167 18.3% 153 156 20 160 151 150 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 1.5% 60 -2.2% 0 40 20 0 -10 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q
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
Slide 16: Strategy
Content Fiskars Group in brief Strategy Financials Q4 2024 Appendices 16 MARCH 2025 Ⓒ FISKARS GROUP
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
Slide 18: Our clear Growth Strategy sets the framework for the choices we make
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 –
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
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
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
Slide 22: U.S.: Adverse development driven by retailers' focus on 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
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
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
Slide 25: Systematic & disciplined 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
Slide 26: Next step of transformation journey: 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
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
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
Slide 29: Net sales from circular products almost doubled – We remain committed to ESG
Net sales from circular products almost doubled from previous year, supplier target reached – We remain committed to ESG ENVIRONMENTAL SOCIAL Target May 2024 Target 2024 2024 At the end 2.5 0 80 2024 2024 -44% * of 2024 77 26% -54% 64% Base year 2021 50% Base year 2017 -60% Base year 2018 -30% Targe
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.
Slide 31: Financials
Content Fiskars Group in brief Strategy Financials Q4 2024 Appendices 31 MARCH 2025 Ⓒ FISKARS GROUP
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 MARCH
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 MARCH 2025 Ⓒ FISKARS GROUP
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 % 60 20 51.8 18 353 346 50 333 337 16 319 42.9 304 293 283 281 14 275 268 40 37.7 256 36.3 241 33.2 12 32.2 29.7 31.2 30 10 25.1 24.3 23.4 8 20 17.9 19.2 6 4 10 2 0 0 Q4 Q1 Q2 Q3 Q4 Q1
Slide 35: Progress in sales and EBIT targets
Challenging operating environment reflected in progress in sales and EBIT targets FINANCIAL TARGETS TRACKING LAST KPI TARGET 2021 2022 2023 2024 3 YEARS NET Organic, FX neutral Mid- CAGR. Single-Digit growth +14.2% +1.7% -9.7% -5.0% SALES -4.3% Mid-teen EBIT margin (excl. EBIT IAC) by end of 2025 12
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
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
Slide 38: Board's proposal EUR 0.84 per share
Solid cash position enables an increasing dividend: Board’s proposal EUR 0.84 per share COMP. EPS AND DPS 2019-2023 CEPS AND DPS 2019-2023 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 0.8
Slide 39: Q4 2024
Content Fiskars Group in brief Strategy Financials Q4 2024 Appendices 39 MARCH 2025 Ⓒ FISKARS GROUP
Slide 40: Q4 2024 Group key figures – Record EBIT
Q4 2024 Group key figures – Record EBIT COMPARABLE EBIT, EURm 42.9 driven by gross margin and cost efficiency Q4/2023: 37.7 GROSS MARGIN, % NET SALES, EURm COMPARABLE EBIT (EUR m) AND COMPARABLE EBIT MARGIN, % 49.4 Q4/2023: 46.8 EURm % -2.5% *-2.4% 50 15 FREE CASH FLOW, EURm 69.4 400 42.9 353 346 35
Slide 41: FY 2024 Group key figures
FY 2024 Group key figures – comp. EBIT of COMPARABLE EBIT, EURm 111.4 EUR 111m, up EUR 1.1m from 2023 2023: 110.3 GROSS MARGIN, % REPORTED NET SALES, EURm COMPARABLE EBIT (EUR m) AND 48.8 COMPARABLE EBIT MARGIN, % 2023: 46.8 EURm % +2.4% FREE CASH FLOW, EURm 81.7 *-5.0% 160 154.2 151.0 15 1,400 1,25
Slide 42: Savings fully compensated impact of declining volumes
Savings fully compensated impact of declining volumes, supply chain efficiency improvement to continue 2024 EBIT EXCL. IAC BRIDGE, EURm +1.1 120 -1.6 +110.3 +109.2 +3.9 +111.4 +107.6 100 SG&A 80 COGS 60 40 20 0 FY-23 Reported FX FY-23 Sales/ Marketing D&A Other Net savings FY-24 Georg FY-24 Comparab
Slide 43: U.S. tariffs expected to have minor impacts
U.S. tariffs expected to have minor impacts – mostly absorbed by price increases • The U.S. government imposes tariffs on foreign goods across industries – the final extent remains unknown, and the situation is continuously evolving • The U.S. accounts for approximately 30% of Fiskars Group's net sa
Slide 44: Strong Free Cash Flow rebound in Q4
Strong Free Cash Flow rebound in Q4 – Full-year cash flow back to historical levels QUARTERLY FREE CASH FLOW, EURm Q4 FREE CASH FLOW, EURm EURm EURm Q4-24 Q4 vs. Q3 Q4 vs. LY EBITDA 51.6 + 31.5 - 2.3 100 -8 +86 200 Change in provisions 2.3 - 6.2 + 2.3 78 Non-cash adjustments 0.1 + 1.1 + 33.1 75 69 1
Slide 45: Net Debt / EBITDA for 2024 at 2.55x
Net Debt / EBITDA for 2024 slightly above 2.5x target level at 2.55x NET DEBT (EURm) AND NET DEBT / LTM EBITDA (EXCL IAC) EURm Multiple 600 3.0x 529 Max Target 510 494 500 478 2.5x 447 400 2.0x 370 344 342 336 187 325 Jensen Georg 300 1.5x 222 207 200 1.0x 145 260 100 0.5x 0 0.0x Q4-21 Q1-22 Q2-22 Q
Slide 46: Q4 2024 Business Area performance
Q4 2024 Business Area performance 46 MARCH 2025 Ⓒ FISKARS GROUP
Slide 47: Vita BA: Net sales decreased in a challenging market
Vita BA: Net sales decreased in a challenging market, good growth with Royal Copenhagen and Moomin Arabia NET SALES, EURm COMPARABLE EBIT (EURm) AND -2.1% MARGIN, % -2.1%* EURm % 250 215 40 35.9 25 210 34.7 200 187 31.9 33.3 • Q4 comparable net sales -2.1% 171 176 30 16.2% 20 24.9 20.4% 15.9% sharpl
Slide 48: Planned organizational changes to enable growth
Planned organizational changes to enable growth via clarified structure and strategic reinvestments PLANNED IMPACT RE-INVESTMENT -10 EURm cost reduction +12 EURm +12m EUR -10m EUR 2025 marketing The planned changes in 4 EURm one-off cost reduction 2025increase spend marketing Vita will clarify brand
Slide 49: BA Fiskars Q4: Comparable EBIT improved
BA Fiskars Q4: Comparable EBIT improved driven by GM uplift and cost management, despite lower volumes NET SALES, EURm COMPARABLE EBIT (EURm) AND MARGIN, % -3.3% EURm % -3.0%* 200 20 15 • Comparable net sales -3.0% in Q4, 165 15.1 11.9 150 141 127 130 126 10 improvement over Q3 (-4.9%) Q4 10 10.7% 7
Slide 50: Guidance for 2025
Guidance for 2025 Assumptions and actions behind the guidance - The operating + Further gross margin environment expected to improvement is expected remain challenging and to support EBIT impact demand Fiskars Corporation expects + The savings from comparable EBIT improve from the completed organiza
Slide 51: Appendices
Content Fiskars Group in brief Strategy Financials Q4 2024 Appendices 51 MARCH 2025 Ⓒ FISKARS GROUP
Slide 52: Largest shareholders as of December 31, 2024
Largest shareholders as of December 31, 2024 NUMBER OF % OF SHARES AND # SHAREHOLDER NAME SHARES VOTES 1 Virala Oy Ab 12,772,500 15.77 2 Turret Oy Ab 11,430,961 14.11 3 Holdix Oy Ab 10,165,537 12.55 4 Sophie Von Julins Stiftelse 2,556,000 3.16 5 Julius Tallberg Corp. 2,554,350 3.15 6 Gripenberg Gerd
Slide 53: Shareholder structure as of December 31, 2024
Shareholder structure as of December 31, 2024 NU MBER OF % OF SHARES SECTOR 5.3% Financial and SHARES AND VOTES 7.1% 1.7% 17.1% insurance Financial and insurance corporations corporations 13,867,778 17.12 Households Households 26,493,013 32.71 Non-financial corporations Non-financial corporations 29
Slide 54: Leadership Team
Leadership Team Nathalie Ahlström Jussi Siitonen Dr. Steffen Hahn President & CEO CFO CEO of Fiskars CEO of Vita (Interim) Employed 2021 Employed 2024 Employed 2020 Anna Mindelöf Aamir Shaukat Chief People Officer Executive Vice President, Group Employed 2022 Operations and Sustainability Employed 2
Slide 55: Board of Directors
Board of Directors Paul Ehrnrooth Jyri Luomakoski Albert Ehrnrooth Louise Fromond Julia Goldin Carl-Martin Lindahl Volker Lixfeld Susan Repo 55 MARCH 2025 Ⓒ FISKARS GROUP
Slide 56: 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
Slide 57: Fiskars was founded in 1649, Fiskars Group was 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
Slide 58: 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
Slide 59: 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 60: Thank you!
Thank you!