Fiskars Oyj Abp Stock Earnings Reports

Fiskars reported its fourth consecutive quarter of growth with comparable net sales up ~3% and comparable EBIT improving to ~EUR 7.7m (from EUR 3m). The recovery is driven primarily by the Vita business area (now the larger BA on a quarterly basis) which showed broad-based top-line improvement but still faces margin pressure due to deliberate production curtailment and inventory reduction efforts. Management highlighted a major improvement in free cash flow (EUR ~30.4m in Q2, driven by net working capital reduction and strict CapEx control) and stronger liquidity (total ~EUR 420m including committed facilities and cash). Net debt/EBITDA sits at ~3.4x (rolling 12 months) — slightly higher YoY due to lower rolling EBITDA — but net debt has declined. Fiskars reiterated its guidance that comparable EBIT is expected to improve versus last year, while noting H2 is typically stronger and Vita’s restructuring savings are weighted to H2. Key risks and items to watch: inventory levels (excess mainly in Vita), margin drag from supply-chain factory absorption while production is scaled down, macro/geo-political uncertainty (impacting consumer demand regionally), and potential but currently excluded U.S. tariff refunds. Management expects continued strict CapEx discipline (rolling 12-month CapEx ~EUR 32m) and that many one-off restructuring charges related to the Vita program are already recognized.