Fiskars Q2 Results:
April-June 2026 in brief:
- Comparable net sales1 grew by 2.7% to EUR 260.9 million (Q2 2025: 254.1). Reported net sales grew by 1.0%.
- Comparable EBIT2 increased to EUR 7.7 million (3.0), representing 3.0% (1.2%) of net sales.
- EBIT decreased to EUR 1.3 million (5.2).
- Operating cash flow 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 (EPS) was EUR -0.06 (-0.05). Earnings per share (EPS) was EUR -0.10 (-0.03). Cash flow per share was EUR 0.51 (0.29).
Inderes’ Rauli’s quick comment:
The deviation from our forecasts is largely explained by weak sales in the Fiskars segment in Central Europe. At the same time, the Vita segment showed signs of recovery, and the group’s free cash flow strengthened significantly.
We consider the free cash flow to be the absolute bright spot of the quarter, which jumped to EUR 31 million (Q2’25: EUR 2 million) driven by successful working capital management. Despite this, net debt/adj. EBITDA remained high (3.4x) compared to the company’s target (2.5x).
The clear earnings disappointment in the Q2 report and continued market uncertainty create clear downward pressure on our EUR 100 million adj. operating profit forecast.