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Fiskars lowers its outlook for comparable net sales in 2019

Fiskars Corporation
Insider information
October 16, 2019 at 17:15 (EEST)

Fiskars lowers its outlook for comparable net sales in 2019

Fiskars lowers its comparable net sales guidance for the full year 2019. Fiskars
now expects that the comparable net sales will be below the previous year’s
level. Previously, Fiskars expected comparable net sales to be at the same level
as in 2018. Fiskars continues to expect that in 2019, the comparable EBITA will
be below the previous year’s level.

The sales performance of the Functional segment in the US has been weaker than
expected during the third quarter. Net sales in the watering category did not
recover from the soft first half of the year. In the Outdoor business,
comparable net sales remained below the previous year’s level, primarily in the
government channel. Additionally, net sales in the important back-to-school
season did not meet expectations. The lower than expected sales in the
Functional segment during the third quarter will have a negative impact on the
outlook for the full year comparable net sales.

The updated outlook for 2019:

In 2019, Fiskars expects the comparable net sales and comparable EBITA to be
below the previous year’s level.

The outlook is influenced by the company’s investments in growth initiatives
that are expected to add sustainable value in the long-term. In addition, there
are continued material risks relating to changes in the operating environment,
e.g. Brexit and potential further increases to the U.S. tariffs. An unfavorable
outcome of these risks might have a significant impact on the comparable net
sales and comparable EBITA. Furthermore, fluctuations in currency rates might
also have a considerable impact on comparable EBITA.

The comparable net sales excludes the impact of exchange rates, acquisitions and
divestments. Items affecting comparability in EBITA excludes restructuring
costs, impairment charges, integration related costs, acquisitions and
divestments, and gain and loss from the sale of businesses.

The previous outlook for 2019:

Fiskars expected the comparable net sales to be at the same level as in 2018 and
comparable EBITA to be below the previous year’s level.

Fiskars will publish the interim report for January-September 2019 on October
31, 2019.

FISKARS CORPORATION

Jaana Tuominen
President and CEO

Media and investor contacts:
Corporate Communications, tel. +358 204 39 5031, communications@fiskars.com

Making the everyday extraordinary
Fiskars Group’s purpose is to make the everyday extraordinary. With our family
of lifestyle brands including Fiskars, Gerber, Iittala, Royal Copenhagen,
Waterford, and Wedgwood, we want to create a positive, lasting impact on our
quality of life. Our products are available in more than 100 countries and we
employ around 7,600 people in 30 countries. Please visit us at
www.fiskarsgroup.com for more information.

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