Fiskars Corporation Half-year Financial Report for January-June 2026: Comparable net sales increased for the fourth consecutive quarter - comparable EBIT and free cash flow also improved
Fiskars Corporation
Half-year financial report
July 16, 2026 at 8:30 a.m. (EEST)
Fiskars Corporation Half-year Financial Report for January-June 2026: Comparable net sales increased for the fourth consecutive quarter – comparable EBIT and free cash flow also improved
This release is a summary of the Fiskars Corporation’s Half-year Financial Report for January-June 2026 published today. The complete Half-year Financial Report with tables is attached to this release as a pdf-file. It is also available at https://fiskarsgroup.com/investors/reports-and-presentations/annual-and-interim-reports/ and on the company website at www.fiskarsgroup.com. Investors should not rely on summaries of financial reports only, but should review the complete reports with tables.
April-June 2026 in brief:
- Comparable net sales1 increased by 2.7% to EUR 260.9 million (Q2 2025: 254.1). Reported net sales increased by 1.0%.
- Comparable EBIT2 increased to EUR 7.7 million (3.0), or 3.0% (1.2%) of net sales.
- EBIT decreased to EUR 1.3 million (5.2).
- Cash flow from operating activities before financial items and taxes increased to EUR 50.8 million (30.2).
- Free cash flow3 increased to EUR 30.7 million (2.3).
- Comparable earnings per share were EUR -0.06 (-0.05). Earnings per share were EUR -0.10 (-0.03). Cash earnings per share were EUR 0.51 (0.29).
January-June 2026 in brief:
- Comparable net sales1 increased by 2.5% to EUR 543.8 million (Q1-Q2 2025: 530.7). Reported net sales decreased by 1.2%.
- Comparable EBIT2 increased to EUR 32.8 million (29.8), or 6.0% (5.4%) of net sales.
- EBIT increased to EUR 20.8 million (0.7).
- Cash flow from operating activities before financial items and taxes increased to EUR 58.3 million (28.0).
- Free cash flow3 increased to EUR 19.3 million (-25.5). Cash conversion4 was 123.2% (5.7%).
- Comparable earnings per share were EUR 0.09 (0.10). Earnings per share were EUR 0.01 (-0.19). Cash earnings per share were EUR 0.55 (0.17).
1) Comparable net sales exclude the impact of exchange rates, acquisitions and divestments.
2) Items affecting comparability in EBIT include items such as restructuring costs, impairment or provisions charges and releases, acquisition-related costs, and gains and losses from the sale of businesses. Comparable EBIT is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals.
3) Calculation of free cash flow has been changed to include lease payments. Comparative periods have been restated accordingly.
4) Free cash flow / LTM EBIT excl. IAC, based on unlevered FCF, LTM EBIT IFRS 16 adjusted.
Guidance for 2026 (unchanged)
Fiskars Corporation expects comparable EBIT to improve from the 2025 level (2025: EUR 76.4 million).
Assumptions behind the guidance
Uncertainties in the global economy and geopolitical environment are expected to continue and affect demand for Fiskars Group’s products in 2026. Visibility in the market is limited.
In line with typical seasonality, the majority of the Group’s comparable EBIT is expected to be generated in the second half of the year, which is an important season for Business Area Vita in particular. The improvement in the Group’s full-year comparable EBIT is expected to be primarily driven by Business Area Vita.
Business Area Vita is implementing previously announced changes, which are expected to improve its financial performance and results in savings that support the Group's comparable EBIT improvement from the second half onwards. At the same time, the Business Area is continuing its actions to reduce elevated inventory levels. While these actions are expected to strengthen the company's position in the long term, they carry some negative impact on comparable EBIT through supply chain variance.
President & CEO, Fiskars Group, Jyri Luomakoski:
“We delivered the Group’s fourth consecutive growth quarter, with comparable net sales increasing by 3%. Our comparable EBIT also improved in the second quarter, amounting to EUR 8 million. Sales growth was again driven by Business Area Vita, whose profit performance now also showed early signs of recovery – demonstrating progress in its turnaround. Business Area Fiskars delivered a stable quarter, both in terms of sales and profit. Another positive development during the quarter was free cash flow, which improved significantly from the comparison period and increased to EUR 31 million as a result of decreasing net working capital and strict capital expenditure management.
Taking a closer look at the Business Areas, Business Area Vita’s comparable net sales increased by 6%. The growth was driven by Georg Jensen, as well as several regional leader brands such as Rörstrand, which celebrated its 300th anniversary during the quarter. At Georg Jensen, strong demand for core collections, reinforced by line extensions, supported growth. Business Area Vita’s comparable EBIT improved by EUR 5 million to EUR -3 million, driven by increased sales volumes, as well as lower SG&A costs. The Business Area has continued the necessary actions to reduce its inventories, which carry some negative impact on comparable EBIT in the short run. Due to the seasonal nature of the business, more meaningful progress in inventory reduction is expected later in the year, predominantly in the fourth quarter.
Turning to Business Area Fiskars, its comparable net sales were stable. In the U.S., the Business Area’s largest market, comparable net sales grew for the third quarter in a row, driven by good sell-out. At the same time, demand was softer in Central Europe, particularly in Germany, where last year's comparison period was supported by non-recurring campaigns. Therefore, as expected, Business Area Fiskars’ comparable EBIT remained relatively stable at EUR 14 million with improved comparable EBIT margin. Gross margin improved, however, its impact was offset by the Business Area’s planned increased spend in new product development and marketing.
In both Business Areas, we continued to strengthen the relevance and desirability of our brands. In Business Area Vita, consumers were engaged through compelling product launches such as Iittala’s sold-out limited-edition Pokémon collaboration and Georg Jensen's Weft jewelry collection, which brings a contemporary perspective to the brand’s design heritage. In Business Area Fiskars, the Fiskars brand’s expansion into new product categories continued to gain traction, with the roll-out of both Power Tools and Pet Care progressing according to plan. Further demonstrating Fiskars' innovation capabilities in new categories, the brand received three Red Dot Design Awards at the international design competition during the quarter, with the new Power Tools range earning the highest “Best of the Best” distinction.
In May, we hosted the Group’s Capital Markets Day, where we presented new financial targets for 2026–2030 and updated strategic priorities. The financial targets cover four key areas: growth, profitability, cash conversion and leverage. The strategic priorities reflect the increased accountability of the Business Areas, which now drive their own strategies with clear focus. Consistent with this, growth and profitability targets were set separately for the Business Areas, with cash conversion and leverage at Group level only.
During the second quarter, we received several recognitions for our continuous sustainability work. Most notably, our focused sustainability efforts enabled us to regain the EcoVadis Platinum Medal, placing us among the top 1% of companies assessed globally.
Business Area Vita’s turnaround actions, announced in February, are progressing according to plan. These actions are expected to result in annual cost savings of approximately EUR 28 million, of which close to one third is expected to be realized during the second half of 2026. I am pleased with the commitment and resilience demonstrated by the Vita team as they continue to build the foundation for profitable growth.
We reiterate our guidance and continue to expect comparable EBIT to improve from the 2025 level. While uncertainty in the operating environment continues, I am confident that our actions to strengthen the appeal of our brands, combined with our profitability improvement measures, will enable us to improve our performance in 2026.”
Group key figures
| EUR million (unless otherwise noted) | Q2 2026 | Q2 2025 | Change | Q1-Q2 2026 | Q1-Q2 2025 | Change | 2025 |
| Net sales | 260.9 | 258.3 | 1.0% | 543.8 | 550.2 | -1.2% | 1,140.2 |
| Comparable net sales1) | 260.9 | 254.1 | 2.7% | 543.8 | 530.7 | 2.5% | 1,125.6 |
| EBIT | 1.3 | 5.2 | -76.0% | 20.8 | 0.7 | 38.1 | |
| Items affecting comparability in EBIT2) | 6.5 | -2.2 | 11.9 | 29.1 | -59.0% | 38.4 | |
| Comparable EBIT3) | 7.7 | 3.0 | 32.8 | 29.8 | 10.0% | 76.4 | |
| Comparable EBIT margin | 3.0% | 1.2% | 6.0% | 5.4% | 6.7% | ||
| EBITDA | 21.0 | 24.4 | -14.0% | 60.6 | 38.7 | 56.5% | 122.2 |
| Comparable EBITDA4) | 26.6 | 22.2 | 19.9% | 70.6 | 67.8 | 4.1% | 155.3 |
| Profit before taxes | -9.6 | -3.0 | 1.4 | -19.1 | 12.5 | ||
| Profit for the period | -7.8 | -2.2 | 0.8 | -15.2 | 9.6 | ||
| Earnings per share, EUR | -0.10 | -0.03 | 0.01 | -0.19 | 0.12 | ||
| Comparable earnings per share, EUR | -0.06 | -0.05 | -11.6% | 0.09 | 0.10 | -14.2% | 0.48 |
| Cash earnings per share (CEPS), EUR | 0.51 | 0.29 | 74.7% | 0.55 | 0.17 | 1.25 | |
| Equity per share, EUR | 8.01 | 8.51 | -5.9% | 8.81 | |||
| Cash flow from operating activities before financial items and taxes | 50.8 | 30.2 | 68.3% | 58.3 | 28.0 | 128.2 | |
| Free cash flow5) | 30.7 | 2.3 | 19.3 | -25.5 | 35.5 | ||
| Cash conversion6) | 123.2% | 5.7% | 43.6% | ||||
| Net debt | 541.0 | 556.3 | -2.7% | 513.4 | |||
| Net debt/comparable EBITDA (LTM), ratio | 3.42 | 3.16 | 8.3% | 3.31 | |||
| Equity ratio, % | 40% | 41% | 44% | ||||
| Net gearing, % | 83% | 80% | 72% | ||||
| Capital expenditure | 7.0 | 15.4 | -54.6% | 12.2 | 24.1 | -49.4% | 43.5 |
| Personnel (FTE), average | 5,992 | 6,139 | -2.4% | 5,995 | 6,167 | -2.8% | 6,145 |
1) Comparable net sales exclude the impact of exchange rates, acquisitions and divestments.
2) In Q2 2026, items affecting comparability were mainly related to BA Vita’s turnaround actions.
3) EBIT excluding items affecting comparability. Comparable EBIT is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals.
4) EBITDA excluding items affecting comparability. Comparable EBITDA is not adjusted to exclude the EBIT contribution of acquisitions/divestments/disposals.
5) Calculation of free cash flow has been changed to include lease payments. Comparative periods have been restated accordingly.
6) Free cash flow / LTM EBIT excl. IAC, based on unlevered FCF, LTM EBIT IFRS 16 adjusted.
In addition to the financial performance indicators defined by the IFRS, Fiskars Group publishes certain Alternative Performance Measures to better reflect the operational business performance and to facilitate comparisons between financial periods. Their calculation can be found on Fiskars Group’s website in the Investors section (Investors-> Financials-> Calculation of financial indicators).
FISKARS CORPORATION
Jyri Luomakoski
President and CEO
Webcast
A results webcast will be held on July 16, 2026 at 11.00 a.m. (EEST). It will be held in English and can be followed at https://fiskars.events.inderes.com/q2-2026.
Management presentation is followed by a Q&A session. Questions can be placed through the webcast chat function or by phone. To ask questions by phone, the participant is required to register at https://events.inderes.com/fiskars/q2-2026/dial-in. After the registration you will receive the phone number and conference ID to access the conference. If you wish to ask a question, please press *5 on your telephone keypad to enter the queue.
Presentation materials will be available at www.fiskarsgroup.com.
An on-demand version of the webcast will be available on the Group’s website. Personal details gathered during the event will not be used for any other purpose.
FISKARS CORPORATION
Further information:
Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192
Fiskars Group in brief
Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth. In 2025, Fiskars Group’s global net sales were EUR 1.1 billion, and we had approximately 6,600 employees. We have two Business Areas (BA), Vita and Fiskars.
BA Vita offers products in the high-end homeware segment as well as fine branded jewelry. Its desirable brands include Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2025, BA Vita’s reported net sales were EUR 613 million, and it had approximately 5,000 employees.
BA Fiskars offers functional innovations in the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories. The brands include Fiskars and Gerber. In 2025, BA Fiskars’ net sales were EUR 522 million, and it had approximately 1,300 employees.
Read more: fiskarsgroup.com