Fiskars (FSKRS) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked the first quarter of organic growth since 2022, with comparable EBIT rising to EUR 26.8M and net sales up 3.2% year-over-year, following a record Q4 EBIT.

• Direct-to-consumer (DTC) channels grew 9%, reflecting strong brand performance, especially in Vita.

• Operational separation of Fiskars and Vita was completed ahead of schedule, with both now functioning independently.

• 2025 guidance remains unchanged, expecting improved comparable EBIT despite tariff headwinds.

Financial highlights

• Net sales reached EUR 291.9M, up 3.2% year-over-year; comparable net sales grew 1.7%.

• Comparable EBIT increased to EUR 26.8M (9.2% margin), up 6.8% year-over-year; reported EBIT was EUR -4.6M due to a digital & IT asset write-off.

• Gross margin declined 80 bps to 47.5%; Vita's gross margin up 90 bps to 56.3%, Fiskars down 160 bps to 40.7%.

• Free cash flow improved to EUR -17.4M from EUR -20.1M; net debt increased to EUR 563.4M.

• Comparable EPS was EUR 0.15 (down from 0.19); reported EPS was EUR -0.16 (down from 0.03).

Outlook and guidance

• Guidance for 2025 expects comparable EBIT to improve from EUR 111.4M in 2024, assuming current tariffs but no demand impact.

• Tariffs are anticipated to increase sourcing costs and may impact consumer confidence, but pricing and productivity initiatives are expected to offset direct impacts.

• EBIT generation is seasonally weighted toward H2, especially Q4.

• Indirect impacts on consumer confidence remain uncertain, especially for Q4 and Vita.