Fiskars Oyj Abp

Latest Results (07.08.2024):

Net Sales Performance

In the second quarter of 2024, Fiskars Oyj Abp reported a 4.9% increase in net sales, reaching EUR 281.0 million compared to EUR 267.9 million in Q2 2023. However, comparable net sales, which exclude the impact of exchange rates, acquisitions, and divestments, decreased by 5.3% to EUR 252.9 million from EUR 267.3 million in the same period last year.

EBIT and Profit Margins

Fiskars Oyj Abp's comparable EBIT for Q2 2024 decreased to EUR 19.2 million, representing 6.8% of net sales, down from EUR 23.4 million or 8.7% of net sales in Q2 2023. The reported EBIT saw a significant drop to EUR 0.3 million from EUR 22.2 million in the previous year, primarily due to lower volumes and items affecting comparability.

Cash Flow and Free Cash Flow

Cash flow from operating activities before financial items and taxes increased to EUR 64.5 million in Q2 2024, up from EUR 56.1 million in Q2 2023. Additionally, free cash flow improved to EUR 49.3 million from EUR 41.6 million in the same period last year, indicating a strong recovery after a soft start to the year.

Earnings Per Share

Fiskars Oyj Abp's comparable earnings per share (EPS) for Q2 2024 were EUR 0.10, down from EUR 0.17 in Q2 2023. The reported EPS turned negative, standing at EUR -0.08 compared to EUR 0.16 in the previous year, reflecting the impact of lower EBIT and items affecting comparability.

Guidance for 2024

Fiskars Oyj Abp has maintained its guidance for 2024, expecting comparable EBIT to be slightly above the 2023 level of EUR 110.3 million. The company anticipates that the operating environment will remain challenging, with demand impacted in the second half of the year. Savings from efficiency programs and the integration of Georg Jensen are expected to support EBIT, although wage inflation may partially offset these benefits.