Fiskars Oyj Abp

Fiskars Corporation announced its schedule for financial reporting and its Annual General Meeting in 2025. The Annual Report for 2024, including Financial Statements and the Board of Directors' Report, will be available on the company's website during week 8. The Annual General Meeting is planned for March 12, 2025, with the Board of Directors to officially summon the meeting later. Financial reports will be published in both Finnish and English on their website. Fiskars Group, listed on Nasdaq Helsinki, is known for its design-driven brands for indoor and outdoor living, with a presence in over 100 countries and nearly 450 stores. The group employs about 7,000 people and reported global net sales of EUR 1.1 billion in 2023. The company is celebrating its 375th anniversary in 2024, emphasizing its commitment to innovative and sustainable growth.

Fiskars Group announced plans to separate its two Business Areas, Fiskars and Vita, into independent operations and legal entities, effective April 1, 2025, with the legal structure completed by the end of Q1 2026. This separation aligns with their transformation strategy. Leadership changes include Dr. Steffen Hahn becoming CEO of Fiskars, while Christian Bachler will leave the company on November 1, 2024. Nathalie Ahlström will temporarily serve as CEO of Vita. Aamir Shaukat is promoted to Executive Vice President, Group Operations and Sustainability, and Chief Operations Officer in Vita. Anna Mindelöf will transition to Chief Human Resources Officer in Vita by April 2025. The changes aim to enhance productivity and operations within the company.

Fiskars Group plans to separate its two Business Areas, Fiskars and Vita, into independent operations and legal entities to enhance their strategic growth opportunities and investment needs. This move aligns with their 'brands first' strategy. The separation will result in two operationally independent companies, each with its own CEO, and is expected to be effective from April 1, 2025, with the legal structure finalized by the end of Q1 2026. The restructuring is anticipated to generate annual cost savings of approximately EUR 12 million, with one-off transition expenses of around EUR 8 million. The changes will involve adjustments in employee roles and reporting lines globally. Business Area Fiskars includes gardening, outdoor, scissors, creating, and cooking categories, while Business Area Vita offers premium and luxury products in tableware, drinkware, jewelry, and interior categories. A webcast regarding Q3 2024 will be held on October 24, 2024. Fiskars Group, with brands like Fiskars, Georg Jensen, and Iittala, operates in over 100 countries with about 7,000 employees and reported global net sales of EUR 1.1 billion in 2023.

Fiskars Corporation released its Interim Report for January-September 2024, highlighting improved profitability despite lower sales volumes. The company's comparable EBIT is expected to slightly exceed the 2023 level of EUR 110.3 million. The acquisition of Georg Jensen has shifted more EBIT generation towards the end of the year, particularly the fourth quarter. Despite a challenging market environment, Fiskars achieved a gross margin of 48.1% in Q3, an all-time high for the quarter. The company continues to focus on growth fundamentals, including commercial excellence, Direct-to-Consumer sales, and expansion in the U.S. and China. Sustainability efforts are progressing well, with supplier engagement targets met ahead of schedule. Fiskars remains cautious about immediate market improvements but is preparing for the end-of-year holiday season. The full report is available on their website.

Fiskars Corporation announced that Peter Holmberg, the Chief Digital Officer and member of the Leadership Team, is leaving the company to pursue a new opportunity. He will step down from his role this week, and transition planning is underway. Nathalie Ahlström, President and CEO of Fiskars Group, expressed gratitude for Holmberg's contributions, particularly in digital transformation and e-commerce growth. Fiskars Group, listed on Nasdaq Helsinki, is a global company known for its design-driven brands in indoor and outdoor living, with a presence in over 100 countries and nearly 450 stores. The company employs approximately 7,000 people and reported net sales of EUR 1.1 billion in 2023. Fiskars Group is celebrating its 375th anniversary in 2024.