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2017-04-28 07:30:02 CEST 2017-04-28 07:30:02 CEST REGULATED INFORMATION Fiskars - Interim report (Q1 and Q3)FISKARS INTERIM REPORT JANUARY–MARCH 2017: Strong quarter – net sales and comparable EBITA grew
Fiskars Corporation FISKARS INTERIM REPORT JANUARY–MARCH 2017: Strong quarter – net sales and comparable EBITA grew This release is a summary of the Fiskars Corporation’s first quarter of 2017 and interim report January–March published today. The complete interim report with tables is attached to this release as a pdf-file. It is also available at http://fiskarsgroup.com/investors/reports-presentations/interim-reports and on the company website at www.fiskarsgroup.com. Investors should not rely on summaries of the interim reports only, but should review the complete interim reports with tables. First quarter 2017 in brief:
Outlook for 2017 unchanged:
Interim President and CEO, Fiskars, Teemu Kangas-Kärki: The solid first quarter was supported by favorable weather conditions and strong sell-in in the gardening category, the timing of spring campaigns as well as our improved cost structure. In addition, we have succeeded in winning big customer accounts, thanks to our in-store excellence, presence in several markets and customer focus. Inspiring consumers with a family of iconic lifestyle brands is at the core of our business and several of our brands, Fiskars, Royal Copenhagen, Arabia, Gilmour, and Royal Doulton demonstrated double digit growth. I am pleased with the excellent performance in the Scandinavian Living and Functional businesses, reflecting the persistent work and focus our team has manifested over time. During the first quarter, we continued to see the benefits of the transformation programs that have been initiated during the past few years. The solid results speak of our ability to create value, generate growth with our strong brands and drive operational efficiencies. The trade continued to face lower traffic in traditional channels, especially in department stores, as consumers continued to move to online and e-commerce platforms across various categories in the Living business. Building omni-channel capabilities with our trade partners, in own retail and digital channels is a strategic priority and we continue to invest in e-commerce to increase net sales in these channels. Our long-term financial targets, shared earlier this year, outline the ambition level as we determinedly pursue continued profitable growth. The new organization structure with two Strategic Business Units and a global supply chain will help us in increasing cohesion and alignment, both of which we need in order to build global businesses and brands. Fiskars has a family of globally recognized brands, including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood, a clear purpose to make the everyday extraordinary, and a strong balance sheet that provides us the flexibility to invest in opportunities that can create sustainable value for our stakeholders.” ___________________________________________________________________________
1)Using comparable exchange rates, excluding Spring USA (divested in September 2016) and the container gardening businesses in the U.S. (divested in January 2016) and Europe (divested in December 2016)
Group key figures
1) Using comparable exchange rates, excluding Spring USA (divested in September 2016) and the container gardening businesses in the U.S. (divested in January 2016) and Europe (divested in December 2016)
In accordance with the guidelines on alternative performance measures issued by the European Securities and Markets Authority (ESMA) Fiskars Corporation has revised the terminology used in its financial reporting. Alternative Performance Measures (APM) are used to better reflect the operational business performance and to facilitate comparisons between financial periods. APMs should not be considered substitutes for measures of performance in accordance with the IFRS. As of Q1 2017, the term “adjustments” has been changed to the term “items affecting comparability (IAC)”, however the definition remains the same. As before, items affecting comparability are transactions that are not related to recurring business operations, such as restructuring costs, impairment charges, integration related costs, and the gain or loss from the sale of businesses. Correspondingly, “comparable EBITA” is calculated from comparable EBIT by adding back amortization. The items affecting comparability are listed in a table on page 15 of this interim report. Fiskars also uses the APM “operative EPS”, which is earnings per share (EPS) excluding the effects of the dividends from and the change in the fair value of the investment portfolio.
FISKARS CORPORATION
Teemu Kangas-Kärki
Analyst and media conference A conference call and live web cast for analysts and investors will be held on the same day at 11:30 a.m. (EEST). The conference call will be held in English. To participate in the conference call please dial 5-10 minutes prior to the start of the conference. Questions can be asked in English after the presentation.
International dial-in number: +44 (0)1452555566 The presentation can be followed as a live webcast at: https://engage.vevent.com/rt/fiskars/index.jsp?seid=22
An on-demand version of the webcast will be available on the company website later the same day.
Fiskars serves consumers and customers around the world with globally recognized brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood. Building on our mission to create a family of iconic lifestyle brands, Fiskars’ vision is to create a positive, lasting impact on our quality of life. Please visit www.fiskarsgroup.com for more information. |
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