Fiskars Oyj Abp (0L9Q) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to Fiskars Group's Q2 results webcast. I'm Noora Huttula from Fiskars Group's Investor Relations and I'm here with our President and CEO Jyri Luomakoski. Good morning. And CFO Jussi Siitonen. Good morning. So Jyri will first take you through the key takeaways of the quarter after which Jussi will talk about the financials. Jyri will then tell you more about business area specific performance after which Jussi goes through the tariff topic as well as our guidance for 2025. After the presentations, we will have time for your questions. We will take questions through the phone line as well as through the chat. You can already type in your questions in the chat during the presentations. With that, I hand over to Jyri. Thank you, Noora, and good morning. The quarter, as I would say, is fortunately behind us and in terms of the key takeaways, as you certainly recall in the 21 launch strategy and period ending end of this year, we've had four transformation levers in our strategy. And these topics have been kind of 50-50 when you look at what are working, what are not working. When you look at our comparable net sales that has been shrinking in the quarter and definitely the big decline we've seen in the US is the key driver to this. The comparable EBIT, much driven by lower volumes and declining gross margin, was down to only 3 million, and gross margin has been basically the KPI on our commercial excellence, this transformation lever, and there we have had setbacks, reasons Jussi will also soon address too. Two, fortunately, are working. So direct-to-consumer, our direct-to-consumer business, i.e. QAM, our own stores, outlets, concessions, they grew in the quarter. And secondly, the transformation lever, the other geographical, besides US being China, gr...