Fiskars (FSKRS) Investor presentation summary

Business overview and structure

• Operates two main business areas: Vita (high-end homeware and jewelry) and Fiskars (gardening, outdoor, scissors, and cooking products), with brands present in over 100 countries and a balanced global footprint.

• Vita focuses on iconic, heritage-rich brands like Georg Jensen, Royal Copenhagen, Wedgwood, and Iittala, while Fiskars emphasizes functional innovation and strong retail partnerships.

• Sales are split 51% Europe, 29% Americas, and 20% Asia-Pacific; 70% of sales are through indirect channels.

• Business areas are now separate legal entities, with the group acting as a portfolio and capital steward, setting strategy and financial targets.

Financial performance and targets

• 2025 net sales reached €1,140.2m, with a gross margin of 47.1% and comparable EBIT of €76.4m; free cash flow was €76.3m.

• Vita contributed €612.6m in net sales and €27.7m EBIT; Fiskars contributed €522.0m in net sales and €66.6m EBIT.

• Group targets for 2026-2030: organic net sales growth of 4-6% for Vita, 3-5% for Fiskars, group EBIT margin ≥12%, and net debt/EBITDA ≤2.5x.

• Dividend policy aims for a stable, increasing dividend over time, with a 2025 payout ratio of 175% on comparable EPS.

Strategic priorities and operational initiatives

• Vita is undergoing a turnaround with a simplified, brand-led organization, targeting €28m annual run-rate savings and focusing on profitable growth through brand desirability, distribution expansion, and channel optimization.

• Fiskars is prioritizing innovation, category expansion, and disciplined go-to-market strategies, aiming to scale core categories and enter adjacent ones.

• Both business areas are expected to drive margin improvement, with Vita targeting ≥12% EBIT margin and Fiskars ≥14% by 2030.

• Group priorities include supporting Vita’s turnaround, restoring Fiskars’ growth, ensuring cost-effective group functions, and driving cash flow and deleveraging.