Fiskars (FSKRS) Q1 2026 earnings summary

Executive summary

• Comparable net sales and free cash flow increased year-over-year to EUR 282.9 million, while reported EBIT declined due to significant US dollar translation effects and inventory actions; at constant currency, EBIT showed a smaller decline.

• Third consecutive quarter of growth for BA Vita, with BA Fiskars delivering solid execution, stable net sales, and improved margins.

• Internal technical and legal separation of business areas completed as planned, enhancing operational accountability and flexibility.

• Sustainability targets for 2030 already reached in some areas, leading to raised ambitions validated by SBTi and a net-zero commitment by 2049.

• Guidance remains unchanged: comparable EBIT expected to improve from 2025 levels.

Financial highlights

• Constant currency net sales up 2.3% year-over-year to EUR 282.9 million; reported net sales down 3.1% due to US dollar weakening.

• Comparable EBIT at EUR 25.0 million (8.8% margin), down from EUR 26.8 million (9.2% margin) year-over-year, impacted by USD and inventory actions.

• Free cash flow positive at EUR 0.9 million, over EUR 18 million better than Q1 last year.

• Comparable EPS EUR 0.16, up from EUR 0.15 year-over-year.

• Net financial items improved by EUR 4 million year-over-year.

Outlook and guidance

• Guidance unchanged: comparable EBIT to improve from 2025 level (EUR 76.4 million), with improvement expected from BA Vita restructuring in H2 2026.

• Planned changes in BA Vita expected to support EBIT from H2 onwards; BA Fiskars to maintain steady performance.

• Typical seasonality in BA Fiskars means Q1 is the strongest quarter; full-year performance should not be extrapolated from Q1.

• Inventory reduction efforts to continue, with more visible impact expected in the second half of the year.

• No more specific guidance provided due to ongoing global uncertainties and limited visibility.