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Fiskars Oyj : Interim Report Q1 2026 - Release
Fiskars Oyj : Interim Report Q1 2026 -
About this update from Fiskars Oyj Abp
Fiskars Group Interim Report Q1 202G JANUARY-MARCH 2026 Interim Report January-March 202G A SOLID START TO THE YEAR WITH INCREASED COMPARABLE NET SALES AND FREE CASH FLOW, COMPARABLE EBIT EUR 25 MILLION JANUARY-MARCH 2026 IN BRIEF Comparable net sales 1 increased by 2.3% to EUR 282.9 million (Q1 2025: 276.6). Reported net sales decreased by 3.1%. Comparable EBIT 2 decreased to EUR 25.0 million (26.8), or 8.8% (9.2%) of net sales. EBIT increased to EUR 19.6 million (-4.6). Cash flow from operating activities before financial items and taxes increased to EUR 7.5 million (-2.1). Free cash flow increased to EUR 0.9 million (-17.4). Comparable earnings per share were EUR 0.16 (0.15). Earnings per share were EUR 0.11 (-0.16). GUIDANCE FOR 2026 ( UNCHANGED) Fiskars Corporation expects comparable EBIT to improve from the 2025 level (2025: EUR 76.4 million). ASSUMPTIONS BEHIND THE GUIDANCE Uncertainties in the global economy and geopolitical environment are expected to continue and affect demand for Fiskars Group's products in 2026. Visibility in the market is limited. Business Area Fiskars is expected to deliver a steady performance, following the typical first-half focused seasonality of its business. The improvement in the Group's comparable EBIT is expected to be primarily driven by Business Area Vita, even as its continued actions to reduce elevated inventories will carry some negative impact. Fiskars Group has announced planned changes, which are expected to improve Vita's financial performance and result in savings that support the Group's comparable EBIT improvement from the second half of 2026 onwards. Comparable net sales exclude the impact of exchange rates, acquisitions and divestments. Items affecting comparability in EBIT include items such as restructuring costs, impairment or provisions charges and releases, acquisition-related costs, and gains and losses from the sale of businesses. Comparable EBIT is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals. CEO's review We had a solid start to the year, with our comparable net sales increasing by 2.3%, despite continued uncertainties in the operating environment. Our comparable EBIT was below last year at EUR 25 million, impacted by a negative translation effect of more than EUR 2 million due to the weakened U.S. dollar. In line with the seasonal patterns of our business, Business Area Fiskars brought in the Group's comparable EBIT for the quarter. At the same time, it was encouraging to see Business Area Vita's sales increasing for the third consecutive quarter. Our free cash flow increased to EUR 0.9 million, improving clearly from both the comparison period and historical seasonal pattern of negative first-quarter free cash flow. Jyri Luomakoski President and CEO "We had a solid start to the year, with our comparable net sales increasing by 2.3%, despite continued uncertainties in the operating environment" Taking a closer look at the Business Areas, Business Area Vita's comparable net sales grew by 5.0%. The growth was driven by multiple key markets and the continued strong performance of Georg Jensen and Royal Copenhagen with the new Iris collection from Royal Copenhagen being particularly well received. Rörstrand also had a good start to the year supported by its 300th anniversary and new launches. Vita's comparable EBIT decreased to EUR -0.7 million, impacted by the continued scale-down of manufacturing as the Business Area worked to reduce excess inventories. While the team has made progress in inventories year-on-year, there is still work ahead. In February, we announced that Vita was planning changes to drive a turnaround in its financial performance and lay foundations for profitable growth. The planned changes include simplifying the organizational structure, as well as right-sizing capacity and streamlining operations at certain manufacturing sites. These changes are progressing according to the announced plans and are expected to result in total annual cost savings of approximately EUR 28 million, of which close to a third is expected to realize in 2026 during the second half of the year. Business Area Fiskars' first-quarter comparable net sales were stable, as Fiskars brand's growth in the U.S. was offset by a more mixed picture in other markets. The Fiskars brand grew in the U.S. for the third consecutive quarter, supported by distribution gains, including both retail locations and product listings. The Business Area's comparable EBIT was relatively stable at EUR 30.9 million, and its comparable EBIT margin improved to 20.1%, demonstrating the team's strong execution at the start of the important gardening season. During the quarter, the new Power Tools category entered stores, starting with broad distribution in Europe, and followed by the North American launch later. Additionally, the new Pet Care range continued to expand its retail presence. Our Business Areas are now fully operationally accountable separate legal subgroups under the parent company Fiskars Corporation. I would like to express my appreciation to our teams who concluded the separation into individual legal entities efficiently on schedule and as planned. Operating independently, the Business Areas benefit from improved flexibility and speed of execution, enabling the acceleration of their distinct growth opportunities. It also allows increasing transparency and measurability at the Business Area level. We will present our strategic priorities and new financial targets in connection with our Capital Markets Day on May 12, 2026. The first quarter marked a step-up in our climate ambitions, as our new science-based emissions reduction targets were approved by the Science Based Targets initiative (SBTi). As we had made strong progress towards our 2030 targets, we raised the bar for emissions reductions in both our own operations and across the value chain. In addition, our commitment to reach net-zero by 2049 was officially validated by the SBTi, underscoring our long-term ambition. With one quarter now behind us, we reiterate our guidance and expect comparable EBIT to improve from the 2025 level. The uncertainties in the global economy and geopolitical environment have not eased - quite the contrary - limiting visibility in the market. At the same time, our measures to strengthen our profitability, especially in Business Area Vita, are advancing as planned. With current visibility, we are confident that we can improve our performance this year. Jyri Luomakoski President s CEO Group key figures EUR million (unless otherwise noted) Q1 2026 Q1 2025 Change 2025 Net sales 282.9 291.9 -3.1% 1,140.2 Comparable net sales 1) 282.9 276.6 2.3% 1,124.3 EBIT 19.6 -4.6 38.1 Items affecting comparability in EBIT 2) 5.4 31.4 -82.6% 38.4 Comparable EBIT 3) 25.0 26.8 -6.6% 76.4 Comparable EBIT margin 8.8% 9.2% 6.7% EBITDA 39.6 14.3 122.2 Comparable EBITDA 4) 44.0 45.7 -3.6% 155.3 Profit before taxes 11.1 -16.1 12.5 Profit for the period 8.6 -13.1 9.6 Earnings per share, EUR 0.11 -0.16 0.12 Comparable earnings per share, EUR 0.16 0.15 5.5% 0.48 Cash earnings per share (CEPS), EUR 0.03 -0.12 1.25 Equity per share, EUR 8.11 8.73 -7.1% 8.81 Cash flow from operating activities before financial items and taxes 7.5 -2.1 128.2 Free cash flow 0.9 -17.4 76.3 Free cash flow/comparable net profit (LTM), % 232.9% 105.4% 197.3% Net debt 545.8 563.4 -3.1% 513.4 Net debt/comparable EBITDA (LTM), ratio 3.55 2.90 22.4% 3.31 Equity ratio, % 40% 42% 44% Net gearing, % 83% 79% 72% Capital expenditure 5.2 8.7 -40.3% 43.5 Personnel (FTE), average 5,998 6,195 -3.2% 6,145 Comparable net sales exclude the impact of exchange rates, acquisitions and divestments. In Q1 2026, items affecting comparability were mainly related to BA Vita's turnaround actions. EBIT excluding items affecting comparability. Comparable EBIT is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals. EBITDA excluding items affecting comparability. Comparable EBITDA is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals. In addition to the financial performance indicators defined by the IFRS, Fiskars Group publishes certain Alternative Performance Measures to better reflect the operational business performance and to facilitate comparisons between financial periods. Their calculation can be found on Fiskars Group's website in the Investors section (Investors-> Financials-> Calculation of financial indicators). Performance by reporting segments EUR million Q1 2026 Q1 2025 Change Comparable change* 2025 Net sales Group 282.9 291.9 -3.1% 2.3% 1,140.2 Vita 127.7 127.1 0.5% 5.0% 612.6 Fiskars 154.0 163.5 -5.8% 0.1% 522.0 Other 1.1 1.2 5.6 Comparable EBIT** Group 25.0 26.8 -6.6% 76.4 Vita -0.7 1.3 27.7 Fiskars 30.9 30.6 1.1% 66.6 Other -5.2 -5.1 -17.9 * Comparable net sales exclude the impact of exchange rates, acquisitions and divestments. ** EBIT excluding items affecting comparability. Comparable EBIT is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals. In Q1 2026, items affecting comparability were mainly related to BA Vita's turnaround actions. Group performance FISKARS GROUP NET SALES IN JANUARY-MARCH 2026 FISKARS GROUP REPORTED NET SALES, EUR MILLION Fiskars Group's comparable net sales increased by 2.3% to EUR 282.9 million (Q1 2025: 276.6). Reported net sales decreased by 3.1%, reflecting the effects of the weakened USD through currency translation. Comparable net sales increased in Business Area Vita and were stable in Business Area Fiskars. Comparable net sales increased in all geographical segments. Fiskars Group's comparable Direct-to-Consumer sales increased by 2%, with sales in the Group's own e- commerce increasing by 8%. Sales in the Group's own retail network remained stable. Fiskars Group's comparable wholesale sales increased by 2%. 400 350 300 250 200 150 100 50 0 291.9 258.3 259.3 330.7 282.9 Vita Fiskars Other Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FISKARS GROUP REPORTED NET SALES LAST 12 MONTHS, EUR MILLION 1,400 1,200 1,000 800 600 400 200 0 1,166.0 1,143.3 1,146.7 1,140.2 1,131.2 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Vita Fiskars Other FISKARS GROUP COMPARABLE EBIT IN JANUARY-MARCH 2026 FISKARS GROUP COMPARABLE EBIT, EUR MILLION Fiskars Group's comparable EBIT decreased to EUR 25.0 million (Q1 2025: 26.8) and was 8.8% (9.2%) of net sales. Comparable EBIT decreased in Business Area Vita and was relatively stable in Business Area Fiskars. The weakened USD had a material negative translation impact on comparable EBIT in Business Area Fiskars. In Business Area Vita, the continued scale-down of production to reduce elevated inventory levels weighed on comparable EBIT through negative supply chain 50 40 30 26.8 20 10 0 3.0 13.9 32.8 25.0 variance. Comparable EBIT excludes items affecting comparability.* Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FISKARS GROUP COMPARABLE EBIT LAST 12 MONTHS, EUR MILLION 120 100 80 113.2 97.0 86.5 76.4 74.7 60 40 20 0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FISKARS GROUP COMPARABLE EBIT MARGIN 14% 12% 10% 8% 6% 4% 9.7% 9.2% 8.5% 7.5% 5.3% 9.9% 8.8% 6.7% 6.6% 2% 0% 1.2% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Comparable EBIT margin Comparable EBIT margin - rolling 12 months *More information regarding items affecting comparability is available on page 31 of this Interim report. FINANCIAL ITEMS, CASH FLOW AND FINANCIAL POSITION FINANCIAL ITEMS Q1 Q1 EUR million 2026 2025 2025 Net interest expenses from funding and currency hedging -5.4 -5.2 -22.0 Interest expenses from leasing liabilities -1.0 -1.3 -5.0 Foreign exchange difference -0.3 -5.4 -5.9 Other financial income and expenses -1.5 -0.3 3.0 Financial income and expenses -8.2 -12.2 -30.0 During the first quarter of 2026, net interest expenses from funding and currency hedging, as well as from leasing liabilities, remained stable. A major part of the foreign exchange differences consist of losses related to hedging of commercial flows and funding transactions. Other financial income and expenses include valuation of commodity hedges, unlisted funds, bank costs and other financing-related fees. Most of the foreign exchange transaction risks related to the commercial cash flows are hedged for the next 12 months primarily using currency forwards and swaps. The majority of the expected consumption of main commodities (gold, silver and aluminum) is also hedged against price risk for the next 12 months. Volatility of other key input costs are typically managed through long-term supplier contracts. CASH FLOW AND FINANCIAL POSITION EUR million (unless otherwise noted) Q1 2026 Q1 2025 2025 Free cash flow 0.9 -17.4 76.3 Cash flow from operating activities before financial items and taxes 7.5 -2.1 128.2 Cash flow from investing activities -4.8 -8.4 -41.8 Cash flow from financing activities 4.9 0.7 -37.1 Change in cash and cash equivalents 2.9 -17.5 21.9 Net working capital 264.0 293.7 286.2 Capital expenditure 5.2 8.7 43.5 Net debt 545.8 563.4 513.4 Net debt/comparable EBITDA (LTM), ratio 3.55 2.90 3.31 Net gearing, % 83% 79% 72% Equity ratio, % 40% 42% 44% Cash flow from operating activities before financial items and taxes increased to 7.5 million in January-March 2026 (Q1 2025: -2.1). Capital expenditure totaled EUR 5.2 million (8.7) in FISKARS GROUP NET WORKING CAPITAL AND FREE CASH FLOW 400 the first quarter 2026. Investments were mainly related to supply chain and IT projects. 350 300 250 200 150 100 50 0 -50 -17.4 340.6 293.7 286.4 286.2 264.0 12.4 -10.2 91.5 0.9 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Free cash flow, QTD Net working capital, YTD Excluding lease liabilities, short-term borrowing totaled EUR 176.5 million (121.4), and long-term borrowing EUR 330.0 million (330.9). Short-term borrowing consisted of commercial paper maturing in 2026. Long-term borrowing included bilateral loans from financial institutions and an unsecured sustainability-linked bond issued in November 2023 to finance the acquisition of Georg Jensen. Lease liabilities were EUR 125.1 million (154.3), of which long-term lease liabilities were EUR 89.0 million (120.1), and short-term lease liabilities EUR 36.1 million (34.3). Fiskars Group had EUR 300.0 million (250.0) of longterm committed credit facilities and uncommitted overdraft facilities of EUR 46.5 million (47.4). Longterm committed credit facilities were not in use (0.0). Uncommitted overdraft facilities were not in use (1.5). A commercial paper program of EUR 400.0 million was available with Nordic banks. Of the commercial paper program, EUR 176.5 million (119.9) was in use. Fiskars Group has a supplier financing arrangement in place with a partner bank. Under the agreed arrangement of EUR 18.1 million (17.6), EUR 6.4 million was in use (7.9). During the first quarter of 2026, Fiskars Group's net debt/comparable EBITDA (LTM) increased to 3.55, which is above the Group's targeted level (≤ 2.5). The development was due to the rise in net debt in line with the typical seasonal fluctuation, although rising less than the historical pattern would suggest. OPERATING ENVIRONMENT IN JANUARY- MARCH 2026 In January-March 2026, the operating environment remained uncertain across geographies. Consumer confidence remained subdued in most of the company's key markets. Heightened geopolitical tensions have added to volatility in the macro environment. To date, recent conflicts have not had a material impact on Fiskars Group. The tariff landscape continues to be dynamic. FISKARS GROUP NET DEBT AND NET DEBT/ COMPARABLE EBITDA ( LTM) 700 600 500 400 300 200 100 605.6 5.00 563.4 556.3 3.70 545.8 2.90 3.16 513.4 3.31 3.55 4.00 3.00 2.00 1.00 0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Net debt, YTD Net debt/Comparable EBITDA (LTM), YTD Target max, Net debt/EBITDA (LTM) 0.00 Reporting segments This Interim Report reflects Fiskars Group's organizational structure, which features two Business Areas (BA): Vita and Fiskars. Fiskars Group's three reporting segments are Vita, Fiskars and Other. In addition, Fiskars Group reports net sales for three geographical areas: Europe, Americas and Asia-Pacific. BA Vita offers premium products in the tableware, drinkware, jewelry and décor categories. It consists of brands such as Georg Jensen, Royal Copenhagen, Wedgwood, Iittala and Moomin Arabia. BA Fiskars consists of the gardening, watering and outdoor categories, as well as the scissors and creating, and cooking categories. The brands include Fiskars and Gerber. The Other segment contains the Group's investment portfolio, the real estate unit, corporate headquarters and shared services. Fiskars Group's Interim Report Q1 2026 April 23, 2026 10 Vita segment EUR million Q1 2026 Q1 2025 Change 2025 Net sales* 127.7 127.1 0.5% 612.6 Comparable gross profit 65.9 71.5 -7.9% 331.6 Comparable EBIT -0.7 1.3 27.7 Capital expenditure 2.0 5.4 -62.0% 27.2 *Using comparable exchange rates excl. acquisitions and divestments, net sales increased by 5.0% in Q1 2026. VITA SEGMENT' S REPORTED NET SALES, EUR MILLION VITA SEGMENT' S COMPARABLE EBIT (EUR MILLION) AND COMPARABLE EBIT MARGIN (%) 250 200 150 100 50 0 127.1 125.3 147.4 212.8 127.7 40 30 20 10 0 -10 -20 -6.2% 29.0 25% 13.6% 1.3 5.2 -0.7 3.5% 1.0% -0.6% -7.8 20% 15% 10% 5% 0% -5% -10% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 VITA SEGMENT IN JANUARY-MARCH 2026 Reported net sales in the Vita segment increased by 0.5% to EUR 127.7 million (Q1 2025: 127.1). Comparable net sales increased by 5.0%, marking the third consecutive growth quarter for the Vita segment. The growth was driven by multiple key markets and the continued strong performance of Georg Jensen and Royal Copenhagen. Rörstrand also had a strong start to the year as the brand celebrates its 300th anniversary. DTC accounted for 53% and wholesale for 47% of total Vita net sales, with net sales increasing in both. Comparable EBIT in the Vita segment decreased to EUR -0.7 million (1.3), or -0.6% of net sales (1.0%). Business Area Vita continued to scale down production to reduce elevated inventory levels. This weighed on comparable gross margin and comparable EBIT through negative supply chain variance. Vita's comparable gross margin decreased by 470 bps to 51.6%. Fiskars segment EUR million Q1 2026 Q1 2025 Change 2025 Net sales* 154.0 163.5 -5.8% 522.0 Comparable gross profit 66.0 66.5 -0.7% 203.5 Comparable EBIT 30.9 30.6 1.1% 66.6 Capital expenditure 1.2 2.8 -57.8% 13.4 *Using comparable exchange rates excl. acquisitions and divestments, net sales increased by 0.1% in Q1 2026. FISKARS SEGMENT' S REPORTED NET SALES, EUR MILLION FISKARS SEGMENT' S COMPARABLE EBIT (EUR MILLION) AND COMPARABLE EBIT MARGIN (%) 200 150 100 50 30.6 18.7% 30.9 10.7% 14.0 11.5% 12.6 8.0% 9.4 163.5 131.1 110.4 117.0 40 154.0 30 20 10 20.1% 25% 20% 15% 10% 5% 0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 0 0% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FISKARS SEGMENT IN JANUARY-MARCH 2026 Reported net sales in the Fiskars segment decreased by 5.8% to EUR 154.0 million (Q1 2025: 163.5). Comparable net sales remained stable as growth by the Fiskars brand in the U.S. was offset by mixed performance in other geographies. Comparable EBIT in the Fiskars segment was relatively stable at EUR 30.9 million (30.6), and comparable EBIT margin increased to 20.1% (18.7%). Business Area Fiskars was able to deliver an improved EBIT margin through prudent cost management, despite increased tariffs against the comparison period. Fiskars segment's comparable gross margin increased by 220 bps to 42.9%. Other segment EUR million Q1 2026 Q1 2025 2025 Net sales 1.1 1.2 5.6 Comparable gross profit 0.4 0.6 2.3 Comparable EBIT -5.2 -5.1 -17.9 Capital expenditure 2.0 0.5 2.9 OTHER SEGMENT' S REPORTED NET SALES, EUR MILLION OTHER SEGMENT' S COMPARABLE EBIT, EUR MILLION 2.0 1.5 1.0 0.5 0.0 1.2 1.9 1.5 1.0 1.1 -1 -3 -5 -5.1 -7 -3.2 -4.0 -5.6 -5.2 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 OTHER SEGMENT IN JANUARY-MARCH 2026 Reported net sales in the Other segment amounted to EUR 1.1 million (Q1 2025: 1.2), consisting of timber sales and rental income. The comparable EBIT for the Other segment was EUR -5.2 million (-5.1). Net sales by geography Q1 Q1 Comparable EUR million 2026 2025 Change change* 2025 Europe 144.8 142.6 1.5% 1.1% 585.6 Americas 87.5 97.2 -10.0% 2.0% 328.5 Asia-Pacific 49.9 53.5 -6.7% 1.7% 229.9 Unallocated** 0.7 -1.5 -3.8 Group total 282.9 291.9 -3.1% 2.3% 1,140.2 *Comparable net sales exclude the impact of exchange rates, acquisitions and divestments. **Geographically unallocated exchange rate differences. FISKARS GROUP' S REPORTED NET SALES SPLIT BY GEOGRAPHY, JANUARY- MARCH 2026 18% 51% Europe Americas Asia-Pacific 31% NET SALES BY GEOGRAPHY IN JANUARY-MARCH 2026 Reported net sales in Europe increased by 1.5% to EUR 144.8 million (Q1 2025: 142.6). Comparable net sales increased by 1.1%, with mixed performance across the region. Reported net sales in the Americas decreased by 10.0% to EUR 87.5 million (97.2). Comparable net sales increased by 2.0%. Reported net sales in Asia-Pacific decreased by 6.7% to EUR 49.9 million (53.5). Comparable net sales increased by 1.7%, driven in particular by good growth in China. Consumer everyday BUSINESS AREA FISKARS During the quarter, the Fiskars brand introduced Fiskars X-Series DualAction cutting tools, featuring a tree pruner, pruner, lopper and hedge shears. With two modes in one tool, the DualAction technology allows switching seamlessly between power and speed settings to deliver optimal cutting for various branch sizes. The sharp, high-quality blades ensure clean and precise cuts. Built to endure, the tools are engineered for longevity and are backed by a 25-year guarantee. Gerber introduced several new products across knives, multitools and camp cooking. The Nectar and Vista clip folding knives feature a lightweight contemporary design with updated colors and handle textures. The Stakeout Drive multitool offers a compact solution for fixing on the go. In camp cooking, the ComplEAT range was expanded with a 10-piece compact cookware set, a coffee pour over system and two new cutting boards. BUSINESS AREA VITA Iittala 's iconic Aalto vase is celebrating its 90th anniversary. To mark the milestone, the brand is launching anniversary editions that pay tribute to Alvar Aalto's visionary design legacy. The first edition, launched in the first quarter, is the Aalto Bubble Vase. Its distinctive surface is created using a traditional soda technique, where air bubbles form naturally between layers of glass, creating a beautifully textured surface that reflects light in a gently and dynamically. Royal Copenhagen launched a new pastel floral tableware collection called Iris. The collection combines traditional bestselling shapes with organic, floral and botanical forms. Each piece is spray painted by hand, allowing color to flow softly across the porcelain surface. The collection comprises a broad tableware assortment in three colors, blue, coral and green. Iittala partnered with the Swedish fragrance and beauty brand Byredo at the MATTER s SHAPE design event in Paris in March for a collaboration titled LJUS -Rituals of Light and Scent. The partnership was introduced through a conceptual art glass installation exploring the relationship between light, glass and scent. The installation offered an early view into the creative direction ahead of the commercial launch planned for the fall of 2026. Georg Jensen also had a prominent presence at MATTER s SHAPE, presenting a preview of a new series of reissued archive jewelry curated by Creative Director Paula Gerbase, to be commercially launched later in the year. The Collector series comprises 11 reissued archive pieces designed by six female artist makers, alongside works created outside their collaboration with Georg Jensen. FISKARS DUALACTION AALTO 90 BUBBLE VASE ROYAL COPENHAGEN IRIS Fiskars Group's Interim Report Q1 2026 April 23, 2026 15 STRATEGY Fiskars Group's 2021-2025 strategy period has come to an end. In the final phase of the strategy's transformation process, Fiskars Group's Business Areas Vita and Fiskars became separate legal subgroups under the holding company, Fiskars Corporation. The separation into individual legal entities was finalized during the first quarter of 2026. The Group plans to present its strategic priorities, outline key focus areas for the Business Areas and introduce new financial targets in connection with its Capital Markets Day on May 12, 2026. SUSTAINABILITY Fiskars Group's sustainability strategy has two commitments that guide all company actions: Pioneering design against a throwaway culture; and Making the everyday extraordinary. These commitments and six key sustainability targets, described below, guide the company's path to sustainable growth. During the quarter, Fiskars Group received approval from the Science Based Targets initiative (SBTi) for its new science-based targets, marking a step-up in its climate ambitions. The Group's commitment to reach net-zero greenhouse gas emissions across its entire value chain by 2049, announced in 2024, was also officially validated by the SBTi. The net-zero commitment entails reducing absolute Scope 1 and 2 emissions by 90% from a 2017 base year and absolute Scope 3 emissions by 90% from a 2018 base year by 2049. Sustainability target: The majority of Fiskars Group's net sales comes from circular products and services by 2030 Fiskars Group has integrated circularity into its innovation processes, new business development and material choices, and the company is seeking new opportunities to keep products and materials in circulation instead of discarding them. In circular product design, Fiskars Group aims to expand the use of recycled, renewable and recirculated materials, and prioritize longevity, repairability and recyclability aspects of products. As an example of circular services, the Fiskars brand offers its customers a frying pan re-coating service that allows old pans to be restored to near-new condition. The service significantly extends the lifespan of frying pans while saving up to 99% of natural resources compared to manufacturing a new pan. Previously, the Frying Pan Service was offered on a rotating basis in four stores at a time. From the first quarter of 2026, it is permanently available in eight Iittala Outlet stores in Finland. During the first quarter of 2026, 29% of the Group's net sales were generated from circular products and services (1-3/2025: 27%). Sustainability target: Greenhouse gas emissions from own operations (Scopes 1 and 2) reduced by 70% from a 2017 base year by 2030 Fiskars Group aims to reduce its greenhouse gas emissions by enhancing operational efficiency and investing in renewable energy. In the first quarter of 2026, Fiskars Group's updated science-based climate targets were approved by the Science Based Targets initiative (SBTi). As part of the update, the Group increased its target to reduce absolute Scope 1 and 2 emissions by 70% from a 2017 base year, replacing the previous 60% target and raising its climate ambitions. During the first quarter, Scope 1 and 2 greenhouse gas emissions decreased by 62% compared to the 2017 base year. Compared to Q1 2025, these emissions decreased by 11%. A key contributor to this decrease was that Fiskars Group continued its transition toward electrified processes and increased the use of renewable energy sources. Sustainability target: Greenhouse gas emissions from Scope 3 emissions in the value chain reduced by 40% from a 2018 base year by 2030 In the first quarter of 2026, Fiskars Group's updated Scope 3 emissions target was also approved by SBTi. Previously, the Group's Scope 3 target focused on reducing emissions from transport and distribution by 30% by 2030, using 2018 as the base year. As part of the validation of the updated science-based targets, the Scope 3 emissions calculation methodology was expanded to cover a wider range of categories. Consequently, the Group introduced a significantly broader target to reduce absolute Scope 3 greenhouse gas emissions from the value chain by 40% by 2030 from a 2018 base year. This new target replaces the earlier transport-specific goal. According to the updated methodology, Scope 3 emissions were 34% lower than in 2018. Progress toward the target is reported annually. Sustainability target: 80% of Fiskars Group's raw material, component, and finished goods suppliers will have science-based targets by 2029 Fiskars Group is committed to reducing emissions along its value chain and supporting its suppliers in setting science-based targets. The target is that 80% of the company's suppliers by spend providing purchased goods will have science-based targets by 2029. At the end of the quarter, approximately 72% (31.12.2025 72%) of the company's raw material, component and finished goods suppliers by 2025 spend had set science-based targets. Sustainability target: Zero Lost Time Accident Frequency (LTAF) by 2030 A safe workplace is a key priority for Fiskars Group. The target for 2030 is to have zero harm with a zero Lost Time Accident Frequency (LTAF, the number of accidents causing injury resulting in an absence of at least one workday per million hours worked). As of January 2026, the reporting coverage of Lost Time Accident Frequency (LTAF) was expanded to include all Group employees globally. While the scope previously covered manufacturing units and distribution centers, it now also includes office and retail locations. The reported Lost Time Accident (LTA) figure has already previously included all employee groups; the expanded LTAF coverage therefore aligns the scope of the metrics. During January-March 2026, LTAF decreased by 25% to 2.8 (Q1 2025 3.8). The number of Lost Time Accidents also decreased by 25% compared to Q1 2025. Fiskars Group has focused on further strengthening its safety practices in its retail locations and offices with dedicated training and implementation of Lost Time Accident Review Boards. The Review Boards provide a formal opportunity to discuss LTA investigation and corrective actions to prevent reoccurrence and promote shared learning. Sustainability target: Inclusion Experience within the top 10% of global high-performing companies Fiskars Group's aim is to create an open and inclusive working environment where everyone can grow, make a meaningful contribution and feel that they belong. Fiskars Group's target is to be within the global top 10% of high-performing companies in terms of Inclusion Experience. Currently, the global benchmark score for this is 80. Based on the latest survey results from the second quarter of 2025, Fiskars Group's Inclusion Experience score was 77 (April 2025). Fiskars Group is in the process of replacing the survey tool used to measure employee satisfaction, including Inclusion Experience. The next company-wide survey is expected to be conducted in the first half of 2026. Fiskars Group ranked fourth in the Finland Large Cap category of the Nordic Business Diversity Index 2026 due to its international and diverse leadership. The study was conducted by the sustainability consultancy Impaktly. Other highlights In January 2026, Fiskars Group was recognized in the Acquisition International CSR Awards 2025 as the Best Sustainable Indoor and Outdoor Living Design Firm. The award highlights Fiskars Group's leadership in sustainable design and responsible business practices, showcasing the company's commitment to environmental stewardship and innovative design through concrete actions taken in 2025. Fiskars Group's second sustainability report prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD) was published in February 2026. In 2025, additional data points that had been subject to transitional provisions were incorporated. In addition, the company proactively expanded the scope of disclosed data beyond the minimum requirements. RESEARCH AND D EVELOPMENT The Group's research and development expenditure was EUR 6.1 million (Q1 2025: 5.5) in the first quarter of 2026, equivalent to 2.1% (1.9%) of net sales. Fiskars Group's research and development expenses have increased, driven by investments into innovation pipeline and category expansions. PERSONNEL The average number of full-time equivalent employees (FTE) was 5,998 (Q1 2025: 6,195) in the first quarter. At the end of the quarter, the Group employed 6,569 (6,695) employees. CHANGES IN MANAGEMENT In January-March 2026, Fiskars Group announced the following change in its management. On February 5, Fiskars Group announced that Aamir Shaukat, who had served as EVP, Group Operations and Sustainability, as well as Chief Operations Officer in BA Vita, would fully focus on his role in BA Vita. Aamir Shaukat reports to Daniel Lalonde, CEO of Vita, and is no longer part of the Fiskars Group Leadership team. The role of EVP, Group Operations and Sustainability was discontinued, and Aamir Shaukat's Group duties moved under the Group's CFO, Jussi Siitonen. ORGANIZATIONAL CHANGES On October 24, 2024, Fiskars Group announced plans to separate its Business Areas Fiskars and Vita into fully accountable subsidiaries and independent legal entities to accelerate their different strategic growth opportunities and expedite serving their investment needs. The separation into individual legal entities was finalized during the first quarter of 2026. On February 5, 2026, Fiskars Group announced that its Business Area Vita is planning changes to drive a turnaround in its financial performance and lay foundations for profitable growth. The planned changes include simplifying BA Vita's organizational structure to reduce complexity, as well as right-sizing capacity and streamlining operations at selected manufacturing and distribution sites. The planned changes are expected to lead to a net reduction of approximately 310 roles globally in BA Vita and are estimated to result in total annual cost savings of approximately EUR 28 million. Close to one third of the total savings is expected to realize in the second half of 2026, and the majority of the rest of the savings in 2027. One-off costs related to the planned changes are expected to amount to a total of approximately EUR 9 million and they will be recorded as items affecting comparability (IAC) during 2026. RESOLUTIONS OF THE ANNUAL GENERAL MEETING 2026 The Annual General Meeting of shareholders of Fiskars Corporation was held at Finlandia Hall, Congress wing on March 11, 2026. The Annual General Meeting approved the financial statements for 2025 and discharged the members of the Board and the President and CEO from the liability. The use of profit shown on the balance sheet and the payment of dividend The Annual General Meeting decided, in accordance with the proposal of the Board of Directors, to pay a dividend of EUR 0.84 per share for the financial period that ended on December 31, 2025. The dividend will be paid in four instalments. The first instalment of EUR 0.21 per share was paid to a shareholder who was registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date March 13, 2026. The payment date for this instalment was March 20, 2026. The second instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for June 2, 2026. The preliminary record date is June 4, 2026 and the dividend payment date June 11, 2026, at the latest. The third instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for September 9, 2026. The preliminary record date is September 11, 2026 and the dividend payment date September 18, 2026, at the latest. The fourth instalment of EUR 0.21 per share shall be paid to a shareholder who is registered in the shareholders' register of the company maintained by Euroclear Finland Oy on the dividend record date, which, together with the payment date, shall be decided by the Board of Directors in its meeting scheduled for December 3, 2026. The preliminary record date is December 7, 2026 and the dividend payment date December 14, 2026, at the latest. The Board was authorised to decide, if necessary, on new dividend record dates and payment dates for the second, third and/or fourth instalments, if the rules and statues of the Finnish book-entry system change or otherwise so require, or if the payment of dividends is prevented by laws or regulations applied. Adoption of the remuneration report and remuneration policy for governing bodies The Annual General Meeting decided to adopt the remuneration report and remuneration policy for the governing bodies. Election and remuneration of the Board of Directors The Annual General Meeting decided that the Board of Directors consist of eight (8) members. Paul Ehrnrooth, Louise Fromond, Rolf Ladau, Carl-Martin Lindahl, and Susanne Skippari were re-elected to the Board of Directors. Susan Duinhoven, Alexander Ehrnrooth and Kaarina Ståhlberg were elected as new members of the Board of Directors. The term of the Board members will expire at the end of the Annual General Meeting in 2027. The Annual General Meeting decided that the annual fees of the members of the Board of Directors will remain at the level of the previous term. The annual fees of the members of the Board of Directors shall be EUR 70,000, the annual fee of the Vice Chair EUR 105,000 and the annual fee of the Chair EUR 140,000. In addition, for Board and Committee meetings other than the meetings of the Audit Committee, the Board/Committee members shall be paid EUR 750 for meetings requiring travel within one (1) country and EUR 2,000 for meetings requiring international travel. The Chairs of the Board of Directors and said Committees shall be paid a fee of EUR 1,500 per meeting requiring travel within one (1) country and EUR 2,000 for meetings requiring international travel. For the meetings of the Audit Committee, the Committee members shall be paid EUR 1,000 for meetings requiring travel within one (1) country and EUR 2,250 for meetings requiring international travel. The Chair of the Audit Committee shall be paid a fee of EUR 2,500 per meeting. For Board/Committee meetings held per capsulam or as teleconference, it was decided that the Chairs of the Board of Directors as well as said Committees be paid a fee per meeting that does not differ from meetings fees otherwise payable to them and Board/Committee members be paid a fee of EUR 750 per meeting. Further the members of the Board of Directors are reimbursed for their travel and other expenses incurred due to their activities in the interest of the company. Election and remunerations of the auditor and the sustainability reporting assurance provider Ernst s Young Oy, Authorized Public Accountants firm, was re-elected as auditor for the term that will expire at the end of the Annual General Meeting in 2027. Ernst s Young Oy has announced that the responsible auditor will be Toni Halonen, APA. The Annual General Meeting decided that the auditor's fees shall be paid according to the reasonable invoice approved by the Board of Directors. Furthermore, Ernst s Young Oy, Authorized Sustainability Audit firm, was re-elected as the company's sustainability reporting assurance provider for the term that will expire at the end of the Annual General Meeting in 2027. Ernst s Young Oy has announced that the responsible sustainability auditor will be Toni Halonen, ASA. The Annual General Meeting decided that the remuneration of the sustainability reporting assurance provider be paid according to the reasonable invoice approved by the Board of Directors. Board authorizations Authorizing the Board of Directors to decide on the repurchase and/or the acceptance as pledge of the company's own shares The Annual General Meeting decided to authorize the Board of Directors to decide on the repurchase of the company's own shares and/or the acceptance as pledge of the company's own shares. The maximum number of shares to be repurchased and/or accepted as pledge is 8,000,000. Acquisitions of own shares may be made in one or several instalments and by using the unrestricted shareholders' equity of the company. The company's own shares may be acquired in public trading on Nasdaq Helsinki Ltd at a price formed in public trading at the time of the acquisition. The authorization may be used to acquire shares to be used for the development of the capital structure of the company, as consideration in corporate acquisitions or industrial reorganizations and as a part of the company's incentive system as well as otherwise for further transfer, retention or cancellation. The Board of Directors is authorized to decide on all other terms and conditions regarding the acquisition and/or pledge of the company's own shares. Based on the authorization, the acquisition of the company's own shares may be made otherwise than in proportion to the share ownership of the shareholders (directed acquisition). The authorization is effective until June 30, 2027 and cancels the authorization to decide on the repurchase of the company's own shares granted to the Board of Directors by the Annual General Meeting on March 12, 2025. Authorizing the Board of Directors to decide on the issuance of shares The Annual General Meeting decided to authorize the Board of Directors to decide on the issuance of shares in one or several instalments. The maximum number of shares to be issued based on the authorization is 8,000,000. The authorization concerns both the issuance of new shares as well as the transfer of treasury shares either for consideration or without consideration. The shares may be issued for example as consideration in corporate acquisitions or industrial reorganizations or for the development of the capital structure of the company, or as part of its incentive systems. The Board of Directors is authorized to decide on all other terms and conditions regarding the issuance of shares. The issuance of shares may also be carried out in deviation from the shareholders' pre-emptive rights to the company's shares (directed issue). The authorization is effective until June 30, 2027 and cancels the authorization to decide on the transfer of the company's own shares held as treasury shares granted to the Board of Directors by the Annual General Meeting on March 12, 2025. CONSTITUTIVE MEETING OF THE B OARD AND B OARD COMMITTEES Convening after the Annual General Meeting, the Board of Directors elected Paul Ehrnrooth as its Chair and Alexander Ehrnrooth as the Vice Chair. The Board decided to establish a Nomination Committee and appointed Paul Ehrnrooth (Chair), Alexander Ehrnrooth and Louise Fromond as members and further decided to establish an Audit Committee and appointed Kaarina Ståhlberg (Chair), Alexander Ehrnrooth and Louise Fromond as the members of the Audit Committee, and a Human Resources and Compensation Committee and appointed Paul Ehrnrooth (Chair), Carl-Martin Lindahl, Rolf Ladau and Susanne Skippari as the members of the committee. SHARES AND SHAREHOLD ERS Share capital and shares Fiskars Corporation has one share series (FSKRS). All shares carry one vote and equal rights. The number of shares in the Corporation totals 81,000,000. Fiskars Corporation held 367,470 of its own shares at the end of March 2026. The share capital remained unchanged, at EUR 77,510,200. Market capitalization and trading Fiskars Corporation shares are traded in the Large Cap segment of Nasdaq Helsinki. Trading on Nasdaq Helsinki 1-3/2026 1-3/2025 1 - 12/2025 Trading volume, shares 1,549,366 816,222 4,220,360 Turnover, EUR 19,542,237 12,364,428 58,373,128 Highest price, EUR 13.34 16.40 16.40 Lowest price, EUR 11.90 14.40 12.02 Closing price, EUR 12.14 14.64 12.68 Volume-weighted average price, EUR 12.61 15.15 13.82 Fiskars Corporation shares are also traded in alternative marketplaces. In January-March 2026, the number of shares traded on Nasdaq Helsinki and in alternative marketplaces together was 2.4 million (1.0), which represents 3.0% (1.3%) of the total number of shares. At the end of the quarter, Fiskars Corporation had a market capitalization of EUR 978.9 million (1,183.2). The total number of shareholders was 33,254 (32,619) at the end of the quarter. Flagging notifications Fiskars Corporation was not informed of any significant changes among its shareholders during the quarter. SHARE-BASED PLANS The aim of the share-based plans is to support the implementation of the company's strategy and drive profitable growth, and to align the objectives of employees with the shareholders to increase the value of the company. Furthermore, the goal is to increase commitment to the company by offering a competitive incentive program. Long-term incentive plans On December 10, 2020, the Board of Directors decided on new share-based Long-term Incentive Plans, a Performance Share Plan and a Restricted Share Plan for the Fiskars Group Leadership Team and other key employees. The Performance Share Plan has performance criteria and targets, whereas the Restricted Share Plan is used as a retention tool. The plans consist of annually commencing share plans, each with a three-year performance or retention period. The Board of Directors will decide the commencement of each plan separately. During the reporting period, the Board of Directors of Fiskars Corporation approved the launch of new periods for the years 2026-2028 within the share-based long-term incentive plans. The Board of Directors decided on a new hybrid approach, which combines a Performance Share Plan and a Restricted Share Plan, called "The Long-Term Incentive Plan". The change was introduced to create a better balance between retention and pay-for performance and to align the objectives of key employees with the shareholders to increase the value of the Company. For the 2026-2028 plan period, the Long-Term Incentive Plan has a maximum of 70 participants. For the Performance Share Plan 2026-2028 plan period, the performance targets relate to the Company's absolute total shareholder return, cumulative comparable EBIT and advancing circular economy in its offering. The Restricted Share Plan 2026-2028 includes a new phased annual vesting in three equal annual instalments. In general, rewards to more senior Long-Term Incentive Plan participants will have a higher weighting on the Performance Share Plan. Fiskars Group also has a separate Restricted Share Plan used as a retention tool. For the 2026-2028 plan period, the Restricted Share Plan has a maximum of 30 participants and the plan vests in three equal annual instalments over the three-year period. During the reporting period, the Board of Directors also decided on directed share issues without consideration based on the Restricted Share Plan and the Performance Share Plan to pay the share rewards for the 2023-2025 plan periods. In the share issue relating to the Restricted Share Plan, 8,472 treasury shares were issued without consideration to the key personnel participating in the plan period 2023-2025. In the share issue relating to the Performance share plan, 1,913 treasury shares were issued without consideration to the key personnel participating in the plan period 2023-2025. Further information about the ongoing periods in these share-based incentive plans and terms applied to the plans was published in stock exchange releases on December 10, 2020, February 4, 2022, February 7, 2023, February 8, 2024, February 6, 2025, April 1, 2025 and February 5, 2026. Ownership plan for the management On February 7, 2023, the Board of Directors decided to launch an Ownership Plan 2023 directed at the company's President and CEO, the Fiskars Group Leadership Team, and certain key employees determined by the Board. In the Plan, the target group is given an opportunity to receive free matching shares for their personal investment in Fiskars shares. The rewards based on the Plan will be paid after the end of the three-year matching period in 2026. In 2023, a maximum total of 190,000 shares held by the company was offered for subscription by the target group of the Plan in a directed share issue against payment, in deviation from the shareholders' preemptive right. The company had a weighty financial reason for the deviation from the shareholders' preemptive right, since the purpose of the share issue was to encourage the target group to acquire and own the company's shares as a part of the Plan. In this first directed share issue against payment, a total of 156,401 treasury shares was subscribed for by 12 employees. The total share subscription price was EUR 2,590,000.56. As part of the Plan, the Board resolved to offer to partially finance on an arm's length basis the subscriptions of the company's shares by providing interest-bearing loans to the Plan participants. The aggregate amount of financing provided by the company was EUR 1,206,274.00. On February 8, 2024, the Board decided to offer the Plan to a few additional participants. The rewards based on the Plan will also be paid after the end of the matching period in 2026 to the new participants. A maximum total of 25,786 treasury shares held by the company was, in deviation from the shareholders preemptive right, offered for subscription to the new participants of Fiskars Ownership Plan 2023 in a directed share issue against payment. A total of 12,894 treasury shares was subscribed for by four employees, and the total share subscription price was EUR 225,000.30. The Board resolved to offer to partly finance on an arm's length basis the subscriptions of the company's shares by providing interest-bearing loans to the new Plan participants. The aggregate amount of financing provided by the company was EUR 151,055. Further information about the Fiskars Ownership Plan has been published in stock exchange releases published on February 7, 2023, March 10, 2023, February 8, 2024, and February 28, 2024. "MyFiskars" employee share savings plan On March 15, 2023, Fiskars Group announced that the Board of Directors had decided to establish an employee share savings plan, "MyFiskars", for the employees of Fiskars Group. The aim of MyFiskars is to encourage employees to acquire and own Fiskars Corporation's shares, and it is intended to create a culture of ownership, as well as to further strengthen the employees' long-term commitment to the company. MyFiskars consists of annually commencing plan periods, each comprising a 12-month savings period and a holding period. The employees are offered the opportunity to voluntarily save a proportion of their monthly salary and to invest this in Fiskars shares. The savings will be used to acquire Fiskars shares for the participating employees quarterly after the publication dates of the company's interim reports. As a reward for their commitment, Fiskars Group grants the participating employees a gross reward of one free matching share for every two savings shares acquired. The matching shares will be granted if the participating employee remains employed at Fiskars Group at the end of the plan period, and if they have kept the shares they have acquired with their savings until this date. At the end of the first quarter of 2026, three MyFiskars plan periods were ongoing. SHORT-TERM RISKS AND BUSINESS UNCERTAINTIES Fiskars Group's business, net sales and financial performance may be affected by several internal and external uncertainties. Fiskars Group presents the overall business risks and risk management more broadly in its Annual Report and on the company's website at https://www.fiskarsgroup.com/investors . These risks still apply. The most significant updates to risks and business uncertainties are related to new products and their development process. The operating environment in 2026 is expected to remain uncertain, impacting demand for the Group's products. Geopolitical risks in various geographies may result in further macroeconomic uncertainty, impact market demand and supply chains, and accelerate inflation. If market conditions worsen further, they may impact net sales and financial performance more than currently expected. As a result of a prolonged period of weak demand, inventories remain at elevated levels, particularly in Business Area Vita. The Business Area continues to scale down production to reduce inventories, which has a negative impact on profit through supply chain variance. If the current measures to address the inventory situation prove to be insufficient, and more actions are required, or if these measures are necessary for longer than anticipated, they may impact profit more negatively than currently expected. Goods imported into the United States are subject to a rapidly evolving tariff regime. The scope and level of tariffs, or potential alternative tariff measures, remain uncertain, and the situation continues to evolve. Fiskars Group is closely monitoring developments and takes action as necessary. Given the significant share of net sales generated in the United States, particularly in Business Area Fiskars, tariffs may negatively impact Fiskars Group's net sales and profitability, both directly through imports and indirectly through inflationary pressures and weakened consumer confidence, despite mitigation efforts. Fiskars Group is also subject to fluctuations in the U.S. dollar. While a weakening U.S. dollar benefits the company in currency transactions due to its net-buy position, it has a negative impact through translation risk. The demand for Fiskars Group's products across categories can be influenced by both seasonal variations and weather conditions. For Business Area Fiskars, the first half of the year is important for the gardening category. The demand for garden tools can be significantly influenced by weather conditions. Unfavorable weather, i.e., a cold and rainy spring, can negatively impact the sales of these products, while favorable conditions can boost them. The back-to-school season during the second and third quarters of the year is also important for the scissors category in Business Area Fiskars. For Business Area Vita, the second half, particularly the fourth quarter, is the most important time of the year due to the holiday season. Any negative developments related to product availability, demand, manufacturing or logistics impacting the important seasons can significantly affect the Group's full-year net sales and profit. Fiskars Group develops its products based on identified consumer, customer, regulatory and market requirements through its structured New Product Development process. With an increasing focus on new product development, the introduction of new products, including products that represent new technologies or categories for the Group, inherently involves risks related to market acceptance, execution and lifecycle performance. These risks are managed through early-stage consumer testing, customer involvement and iterative product validation during the development process. In addition, defined quality, compliance and product safety requirements, extensive testing and approval gates, ensure that products meet applicable safety and quality standards before being introduced to the market. Fiskars Group increasingly depends on centralized information technology systems and suppliers that hold and process critical business information. Breaches, malfunctions, cyber-attacks and fraud attempts directed at Fiskars Group or its suppliers may cause interruptions in the company's operations. Such an interruption may have an effect on the Group's net sales and profit. Fiskars Group is involved in a number of legal actions, claims and other proceedings. Due to the nature of these proceedings, the final outcomes of these cases cannot be predicted. Taking into account the available information to date, these proceedings are not expected to have a material impact on the operations and financial position of the Group nor impact the guidance for 2026. It is possible that based on later information, the view may be reconsidered. In particular, Fiskars Group's well-known and strong brands are exposed to e.g. infringement of intellectual property rights and therefore enforcement actions are part of ordinary business. Fiskars Group considers that investments made in enforcement actions are essential in order to protect and maintain the competitive edge created by our unique designs, innovations and strong brands. STOCK EXCHANGE RELEASES DURING THE REPORTING PERIOD Date Release Jan 21, 2026 Proposals of the Nomination Committee of the Board of Directors to Fiskars Corporation's Annual General Meeting 2026 Feb 5, 2026 Inside information: Fiskars Group's Business Area Vita plans changes to turn around its financial performance and lay foundations for profitable growth Feb 5, 2026 Change in the Fiskars Group Leadership Team Feb 5, 2026 Fiskars Corporation's Financial Statement Release 2025: Focus on cash flow yielded results, comparable EBIT declined impacted by inventory actions Feb 5, 2026 NOTICE TO FISKARS CORPORATION ANNUAL GENERAL MEETING Feb 5, 2026 Fiskars Corporation's directed share issue without consideration based on the Restricted Share Plan Feb 5, 2026 New periods to start within the share-based long-term incentive programs of Fiskars Group Feb 9, 2026 Fiskars Corporation - Notification of management's transactions - Hahn Feb 16, 2026 Fiskars Corporation's Annual Report 2025 published Mar 11, 2026 Fiskars Corporation's directed share issue without consideration based on the Performance Share Plan Mar 11, 2026 RESOLUTIONS OF FISKARS CORPORATION'S ANNUAL GENERAL MEETING 2026 Mar 12, 2026 Fiskars Corporation - Transfer of the company's own shares Mar 12, 2026 Fiskars Corporation - Notification of management's transactions - Siitonen GUIDANCE FOR 2026 (UNCHANGED) Fiskars Corporation expects comparable EBIT to improve from the 2025 level (2025: EUR 76.4 million). ASSUMPTIONS B EHIND THE GUID ANCE Uncertainties in the global economy and geopolitical environment are expected to continue and affect demand for Fiskars Group's products in 2026. Visibility in the market is limited. Business Area Fiskars is expected to deliver a steady performance, following the typical first-half focused seasonality of its business. The improvement in the Group's comparable EBIT is expected to be primarily driven by Business Area Vita, even as its continued actions to reduce elevated inventories will carry some negative impact. Fiskars Group has announced planned changes, which are expected to improve Vita's financial performance and result in savings that support the Group's comparable EBIT improvement from the second half of 2026 onwards. Espoo, Finland, April 22 , 2026 FISKARS CORPORATION Board of Directors Consolidated income statement Q1 Q1 EUR million 2026 2025 Change 2025 Net sales 282.9 291.9 -3.1% 1,140.2 Cost of goods sold -153.0 -153.7 0.5% -605.1 Gross profit 129.8 138.1 -6.0% 535.1 Other operating income 3.7 3.9 -6.4% 20.9 Sales and marketing expenses -75.9 -79.4 4.4% -333.2 Administration expenses -30.0 -34.5 12.8% -127.1 Research and development expenses -6.1 -5.5 -10.3% -22.9 Other operating expenses -1.9 -27.2 93.1% -34.8 EBIT* 19.6 -4.6 38.1 Change in fair value of biological assets -0.3 0.7 4.5 Financial income and expenses -8.2 -12.2 33.1% -30.0 Profit before taxes 11.1 -16.1 12.5 Income taxes -2.5 3.0 -2.9 Profit for the period 8.6 -13.1 9.6 Attributable to: Equity holders of the parent company 8.5 -13.2 9.3 Non-controlling interest 0.1 0.1 0.2 Earnings for equity holders of the parent company per share, EUR (basic) 0.11 -0.16 0.12 Earnings for equity holders of the parent company per share, EUR (diluted) 0.11 -0.16 0.12 * Comparable EBIT (detailed in notes) 25.0 26.8 -6.6% 76.4 Consolidated statement of comprehensive income Q1 Q1 EUR million 2026 2025 2025 Profit for the period 8.6 -13.1 9.6 Other comprehensive income for the period Items that may be reclassified subsequently to profit or loss: Translation differences 2.0 -6.7 -22.1 Cash flow hedges 0.3 0.1 0.8 Items that will not be reclassified to profit or loss: Defined benefit plans, actuarial gains (losses) net of tax 1.0 0.0 0.6 Other comprehensive income for the period, net of tax 3.3 -6.6 -20.8 Total comprehensive income for the period 11.9 -19.7 -11.2 Attributable to: Equity holders of the parent company 11.9 -19.6 -11.2 Non-controlling interest 0.0 -0.1 0.0 Total comprehensive income for the period 11.9 -19.7 -11.2 Consolidated balance sheet EUR million Mar 31 2026 Mar 31 2025 Change 2025 ASSETS Non-current assets Goodwill 219.4 224.0 -2.0% 218.1 Other intangible assets 338.4 349.6 -3.2% 339.2 Property, plant and equipment 162.8 162.8 0.0% 165.9 Right-of-use assets 115.9 144.8 -19.9% 115.6 Biological assets 62.0 58.6 5.8% 62.3 Investment property 8.8 9.1 -3.4% 9.0 Financial assets at fair value through profit or loss 25.2 28.0 -9.9% 25.1 Other investments 3.5 3.5 0.1% 3.5 Deferred tax assets 61.5 47.3 29.9% 53.1 Other non-current assets 10.8 13.3 -18.9% 10.9 Non-current assets total 1,008.3 1,041.0 -3.1% 1,002.7 Current assets Inventories 326.0 337.2 -3.3% 322.9 Trade receivables 197.4 196.6 0.5% 178.3 Other current receivables 43.4 41.2 5.3% 52.7 Income tax receivables 2.9 12.4 -76.7% 2.8 Interest-bearing receivables 0.1 0.1 -5.0% 0.1 Cash and cash equivalents 85.8 43.4 97.8% 82.6 Current assets total 655.6 630.8 3.9% 639.5 Assets total 1,663.9 1,671.8 -0.5% 1,642.1 EQUITY AND LIABILITIES Equity Equity attributable to the equity holders of the parent company 653.8 705.7 -7.4% 710.4 Non-controlling interest 4.3 4.3 1.2% 4.3 Equity total 658.2 710.0 -7.3% 714.7 Non-current liabilities Interest-bearing liabilities 330.0 330.9 -0.3% 330.6 Lease liabilities 89.0 120.1 -25.9% 88.3 Deferred tax liabilities 47.3 39.1 20.8% 40.9 Employee defined benefit obligations 12.2 12.1 0.6% 11.7 Provisions 3.2 3.3 -5.1% 3.2 Other non-current liabilities 3.3 3.6 -8.2% 3.5 Non-current liabilities total 484.9 509.2 -4.8% 478.1 Current liabilities Interest-bearing liabilities 176.5 121.4 45.4% 139.5 Lease liabilities 36.1 34.3 5.3% 37.5 Trade payables 75.1 91.6 -18.0% 84.1 Other current payables 220.8 195.5 12.9% 179.4 Income tax liabilities 9.9 6.5 51.3% 7.1 Provisions 2.5 3.3 -25.5% 1.8 Current liabilities total 520.8 452.7 15.1% 449.4 Equity and liabilities total 1,663.9 1,671.8 -0.5% 1,642.1 Consolidated statement of cash flows EUR million Q1 2026 Q1 2025 2025 Cash flow from operating activities Profit before taxes 11.1 -16.1 12.5 Adjustments for Depreciation, amortization and impairment 20.0 18.9 84.1 Gain/loss on sale and loss on scrap of non-current assets -0.2 26.1 26.6 Other financial items 8.2 12.2 30.1 Change in fair value of biological assets 0.3 -0.7 -4.5 Change in provisions and other non-cash items 5.3 -3.5 -4.4 Cash flow before changes in working capital 44.6 36.9 144.5 Changes in working capital Change in current assets, non-interest-bearing -8.5 3.8 4.7 Change in inventories -2.7 -11.2 -11.2 Change in current liabilities, non-interest-bearing -25.9 -31.6 -9.7 Cash flow from operating activities before financial items and taxes 7.5 -2.1 128.2 Financial income received 0.3 1.8 7.7 Financial costs paid -3.6 -2.9 -26.6 Taxes paid -1.4 -6.6 -8.5 Cash flow from operating activities (A) 2.8 -9.8 100.8 Cash flow from investing activities Capital expenditure on fixed assets -5.2 -8.7 -43.5 Gains and losses on disposal of fixed assets 0.3 0.4 0.7 Other dividends received - - 0.2 Cash flow from other investments 0.0 -0.1 0.8 Cash flow from investing activities (B) -4.8 -8.4 -41.8 Cash flow from financing activities Purchase of treasury shares - -0.8 -3.6 Change in current receivables -0.0 -0.1 -0.1 Proceeds from non-current debt - - - Repayments of non-current debt - 0.0 0.0 Change in current debt 34.5 45.4 73.9 Payment of lease liabilities -12.3 -10.4 -40.8 Cash flow from other financing items -0.3 0.4 1.3 Dividends paid -16.9 -33.9 -67.9 Cash flow from financing activities (C) 4.9 0.7 -37.1 Change in cash and cash equivalents (A+B+C) 2.9 -17.5 21.9 Cash and cash equivalents at beginning of period 82.6 60.8 60.8 Translation difference 0.3 0.0 -0.1 Cash and cash equivalents at end of period 85.8 43.4 82.6 Condensed consolidated statement of changes in equity Attributable to the equity holders of the parent company EUR million Share capital Treasury shares Cumul. transl. diff. Fair value reserve Retained earnings Non- controlling interest Total Opening Balance Jan 1, 2025 77.5 -2.1 19.0 -1.3 699.0 4.3 796.5 Total comprehensive income for the period -6.5 0.1 -13.2 -0.1 -19.7 Purchase and issue of treasury shares -0.8 0.8 0.0 Share-based payments 0.2 0.6 0.8 Dividends -67.9 -67.9 Other changes 0.2 0.2 Balance at Mar 31, 2025 77.5 -2.7 12.5 -1.2 619.6 4.3 710.0 Opening Balance Jan 1, 2026 77.5 -5.4 -2.9 -0.5 641.8 4.3 714.7 Total comprehensive income for the period 2.1 0.3 9.5 0.0 11.9 Purchase and issue of treasury shares 0.0 0.0 Share-based payments 0.2 -0.8 -0.7 Dividends -67.7 0.0 -67.7 Balance at Mar 31, 2026 77.5 -5.3 -0.9 -0.3 582.7 4.3 658.2 Notes to the Interim Report ACCOUNTING PRINCIPLES This unaudited Interim report is prepared in accordance with IAS 34 Interim Financial Reporting using the same accounting policies and methods of computation as in the annual financial statements. Figures presented have been rounded and the sum of individual figures may therefore differ from the presented total figure. Reporting segments EUR million Q1 2026 Q1 2025 Change 2025 Net sales Vita 127.7 127.1 0.5% 612.6 Fiskars 154.0 163.5 -5.8% 522.0 Other 1.1 1.2 5.6 Group total 282.9 291.9 -3.1% 1,140.2 EBIT Vita -5.1 -26.3 80.6% -8.0 Fiskars 30.3 26.9 12.5% 60.8 Other -5.6 -5.2 -14.7 Group total 19.6 -4.6 38.1 Items affecting comparability in EBIT Vita 4.4 27.6 -84.2% 35.7 Fiskars 0.6 3.7 -82.9% 5.8 Other 0.5 0.1 -3.1 Group total 5.4 31.4 -82.6% 38.4 Gross profit Vita 63.5 71.2 -10.9% 331.1 Fiskars 66.0 66.3 -0.4% 201.7 Other 0.4 0.6 2.3 Group total 129.8 138.1 -6.0% 535.1 Items affecting comparability in gross profit Vita 2.4 0.3 0.5 Fiskars 0.0 0.2 -84.2% 1.8 Other - - - Group total 2.4 0.5 2.3 Depreciation, amortization and impairment Vita 13.1 12.4 5.5% 56.8 Fiskars 5.3 5.7 -7.6% 21.9 Other 1.7 0.8 5.5 Group total 20.0 18.9 6.1% 84.1 Capital expenditure Vita 2.0 5.4 -62.0% 27.2 Fiskars 1.2 2.8 -57.8% 13.4 Other 2.0 0.5 2.9 Group total 5.2 8.7 -40.3% 43.5 Net sales by geography EUR million Q1 2026 Q1 2025 Change 2025 Net sales Europe 144.8 142.6 1.5% 585.6 Americas 87.5 97.2 -10.0% 328.5 Asia-Pacific 49.9 53.5 -6.7% 229.9 Unallocated* 0.7 -1.5 -3.8 Group total 282.9 291.9 -3.1% 1,140.2 *Geographically unallocated exchange rate differences. EBIT and Comparable EBIT EUR million Q1 2026 Q1 2025 Change 2025 EBIT 19.6 -4.6 38.1 Depreciation, amortization and impairment 20.0 18.9 6.1% 84.1 EBITDA 39.6 14.3 122.2 Items affecting comparability in EBIT BA Vita turnaround actions 4.0 - - Business Area separation 0.4 1.8 4.0 Organizational changes 0.4 3.1 8.0 Digital & IT assets write-off - 26.4 26.4 Trademark impairment - - 5.2 Sale of Watering business - - -5.3 Other 0.6 - - Total items affecting comparability in EBIT 5.4 31.4 -82.6% 38.4 Comparable EBIT 25.0 26.8 -6.6% 76.4 Depreciation, amortization and impairment, excl. IAC 19.0 18.9 0.8% 78.9 Comparable EBITDA 44.0 45.7 -3.6% 155.3 EBIT and Comparable EBIT by income statement line item EUR million Q1 2026 Q1 2025 Excl. Items Excl. Items Items affecting affecting Items affecting affecting Total comparability comparability Total comparability comparability Net sales 282.9 - 282.9 291.9 - 291.9 Cost of goods sold -153.0 2.4 -150.6 -153.7 0.5 -153.2 Sales and marketing expenses -75.9 1.5 -74.4 -79.4 0.8 -78.6 Administration expenses -30.0 1.4 -28.7 -34.5 3.6 -30.9 Research and development expenses -6.1 0.2 -5.9 -5.5 0.0 -5.5 Other operating income and expenses 1.8 - 1.8 -23.3 26.4 3.1 EBIT 19.6 5.4 25.0 -4.6 31.4 26.8 EUR million 2025 Total Items affecting comparability Excl. Items affecting comparability Net sales 1,140.2 - 1,140.2 Cost of goods sold -605.1 2.3 -602.8 Sales and marketing expenses -333.2 8.4 -324.7 Administration expenses -127.1 6.2 -120.9 Research and development expenses -22.9 0.1 -22.8 Other operating income and expenses -13.9 21.5 7.5 EBIT 38.1 38.4 76.4 Intangible and tangible assets EUR million Mar 31 2026 Mar 31 2025 Dec 31 2025 Intangible assets and goodwill Book value, Jan 1 557.3 604.2 604.2 Translation differences 2.0 -3.9 -13.5 Additions 2.0 3.3 13.2 Amortization and impairment -3.8 -3.7 -20.2 Decreases and transfers 0.3 -26.4 -26.4 Book value at end of period 557.8 573.6 557.3 EUR million Mar 31 2026 Mar 31 2025 Dec 31 2025 Tangible assets and investment property Book value, Jan 1 174.9 173.6 173.6 Translation differences 0.1 -1.1 -4.2 Additions 3.2 5.3 30.0 Depreciation and impairment -6.0 -5.7 -23.7 Decreases and transfers -0.6 -0.1 -0.8 Book value at end of period 171.7 171.9 174.9 Leases EUR million Mar 31 2026 Mar 31 2025 Dec 31 2025 Right-of-use assets Book value, Jan 1 115.6 138.2 138.2 Translation differences 1.1 -1.9 -6.1 Additions 10.4 18.1 39.0 Depreciation and impairment -10.2 -9.4 -39.4 Decreases -1.1 -0.3 -16.1 Book value at end of period 115.9 144.8 115.6 EFFECTS ON THE CONSOLIDATED BALANCE SHEET EUR million Mar 31 2026 Mar 31 2025 Dec 31 2025 Non-current assets Right-of-use assets 115.9 144.8 115.6 Non-current assets total 115.9 144.8 115.6 Equity & Liabilities Other balance sheet items, net -9.1 -9.5 -10.2 Non-current liabilities 89.0 120.1 88.3 Current liabilities 36.1 34.3 37.5 Equity and liabilities total 115.9 144.8 115.6 EFFECTS ON THE CONSOLIDATED INCOME STATEMENT Q1 Q1 EUR million 2026 2025 2025 Reversed rents 12.3 10.4 40.8 Depreciation and impairment -10.2 -9.4 -39.4 Interest expenses -1.0 -1.3 -5.0 Total 1.1 -0.3 -3.6 Contingencies and pledged assets EUR million Mar 31 2026 Mar 31 Dec 31 2025 2025 As security for own commitments Guarantees Other contingencies Supplier finance arrangement limit 8.5 0.2 18.1 8.7 8.2 0.3 0.4 17.6 17.0 Contingencies and pledged assets total 26.8 26.5 25.7 Of the supplier finance arrangement limit, EUR 6.4 million was in use (Q1 2025: 7.9). The supplier finance arrangements are described in more detail in Financial Statements 2025 Note 4.3. Derivatives EUR million Mar 31 2026 Mar 31 2025 Dec 31 2025 Nominal amounts of derivatives Derivatives, hedge accounting not applied: Foreign exchange forwards and swaps 433.8 278.3 393.8 Commodity derivatives 12.8 6.7 12.0 Cross currency swaps 18.6 18.6 18.6 Derivatives, hedge accounting applied: Interest rate swaps 110.0 165.0 110.0 Fair value of derivatives Derivatives, hedge accounting not applied: Foreign exchange forwards and swaps -0.6 -0.1 0.3 Commodity derivatives 2.3 0.6 3.2 Cross currency swaps 1.0 -0.1 1.3 Derivatives, hedge accounting applied: Interest rate swaps 0.4 0.6 0.8 Derivatives have been valued at market value on the reporting date. Hedge accounting is not applied on foreign exchange forwards and swaps, commodity derivatives and cross currency swaps. Fair value changes are recognized in financial items. Fiskars Group applies hedge accounting to interest rate swaps. Fair value change is recognized in equity through other comprehensive income (cash flow hedges) or in financial items in profit and loss (fair value hedges). Net debt reconciliation EUR million Mar 31 2026 Mar 31 2025 Dec 31 2025 Loans from credit institutions 306.5 251.5 269.5 Issued bonds 200.0 200.9 200.6 Lease liabilities 125.1 154.3 125.9 Cash and cash equivalents -85.8 -43.4 -82.6 Net debt 545.8 563.4 513.4 Exchange rate sensitivity of the operations The most significant transaction risks are related to the appreciation of USD, DKK, PLN and the depreciation of SEK, AUD and JPY. The following table presents the estimated annual net commercial cash flows in the most significant currencies: EUR million USD SEK AUD JPY GBP DKK NOK PLN Operational currency position -62.2 32.1 30.2 29.1 21.2 -18.1 15.4 -15.2 Exchange rate sensitivity of the operations* 6.2 -3.2 -3.0 -2.9 -2.1 1.8 -1.5 1.5 *Illustrates the impact of 10% depreciation of the currency on the Group's annual profit before taxes had the cash flows not been hedged. Most of the foreign exchange transaction risks related to the commercial cash flows are hedged primarily using currency forwards and swaps. As Fiskars Group does not apply hedge accounting to these currency derivatives, both the realized and unrealized gains and losses on the derivatives are included in the income statement. Fair value of financial instruments Hierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. Level 2 includes financial assets and liabilities measured using directly observable market inputs. Other than publicly quoted interest-bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds. Mar 31, 2026 EUR million Level 1 Level 2 Level 3 Total Financial assets at fair value through profit and loss 25.2 25.2 Other investments 3.5 3.5 Derivative assets 6.7 6.7 Total assets 6.7 28.7 35.3 Derivative liabilities 3.5 3.5 Interest-bearing liabilities 198.9 198.9 Total liabilities 198.9 3.5 202.4 Mar 31, 2025 EUR million Level 1 Level 2 Level 3 Total Financial assets at fair value through profit and loss 28.0 28.0 Other investments 3.5 3.5 Derivative assets 4.5 4.5 Total assets 4.5 31.4 35.9 Derivative liabilities 3.4 3.4 Interest-bearing liabilities 204.2 204.2 Total liabilities 204.2 3.4 207.7 Dec 31, 2025 EUR million Level 1 Level 2 Level 3 Total Financial assets at fair value through profit and loss 25.1 25.1 Other investments 3.5 3.5 Derivative assets 7.9 7.9 Total assets 7.9 28.6 36.5 Derivative liabilities 2.4 2.4 Interest-bearing liabilities 202.6 202.6 Total liabilities 202.6 2.4 205.0 Financial assets at fair value through profit or loss consist of unlisted funds. The fair value of unlisted funds is based on the market value reported by the fund (level 3) and changes are recognized in the income statement. Other investments include unlisted shares as well as non-current receivables. Unlisted shares and other investments are measured at fair value (level 3). Fair value of unlisted shares equals acquisition value. Interest-bearing liabilities (level 1) consist of listed bond.