Fiskars - Interim report (Q1 and Q3)

Second quarter: Good performance in mixed market conditions

Fiskars Corp.       Interim Report January - June 2011           August 5, 2011
at 8.30 am EET 

Second quarter 2011 in brief:

  -- Net sales increased 2% to EUR 200.6 million (Q2 2010: 195.9)
  -- At comparable currency rates, net sales increased 6 % 
  -- Operating profit (EBIT) decreased 15% to EUR 19.0 million (22.2)
  -- Earnings per share were EUR 0.30 (0.35)
  -- Cash flow from operating activities was EUR 8.2 million (31.4), including a
     EUR 13 million negative impact related to withheld tax on dividend
  -- Outlook for 2011 unchanged: full-year net sales and operating profit
     excluding non-recurring items are expected to increase compared to 2010

Fiskars President and CEO, Kari Kauniskangas:
”Overall, Fiskars had a good quarter, with many businesses performing above
market and increasing their sales. Across our portfolio and segments, however,
performance varied from weak to strong. Even within business areas, consumer
demand developed unevenly between different geographical segments. At Group
level, the weaker US dollar affected Fiskars' consolidated net sales and
operating profit. Profit was also negatively impacted by temporary production
inefficiencies in EMEA, which were partly related to increased production
volumes. 

After a strong first-quarter sell-in, consumer demand has developed unevenly
from month to month. Given the worries about the economic outlook, consumers
are likely to continue weighing their spending decisions carefully. Increasing
raw material prices pressure us to increase our sales prices towards the end of
the year.” 

Group key figures

EUR million                  Q2      Q2  Change    Q1-Q2    Q1-Q2  Change   2010
                           2011    2010             2011     2010               
--------------------------------------------------------------------------------
Net sales                 200.6   195.9      2%    389.9    365.9      7%  715.9
--------------------------------------------------------------------------------
Operating profit (EBIT)    19.0    22.2    -15%     35.3     34.8      1%   49.1
--------------------------------------------------------------------------------
Share of profit from       10.6    13.2    -20%     21.7     18.6     17%   65.9
 associated company                                                             
--------------------------------------------------------------------------------
Change in the fair         -0.2    -0.6             -0.7     -1.2           -2.2
 value of standing                                                              
 timber                                                                         
--------------------------------------------------------------------------------
Profit before taxes*       28.6    34.0    -16%    123.5     49.7    148%  106.7
--------------------------------------------------------------------------------
Profit for the period*     24.2    28.4    -15%    116.1     41.3    181%   94.3
--------------------------------------------------------------------------------
Earnings per share, EUR    0.30    0.35             1.42     0.50           1.15
--------------------------------------------------------------------------------
Equity per share, EUR                               6.16     6.41     -4%   6.76
--------------------------------------------------------------------------------
Cash flow from              8.2    31.4    -74%     40.2     44.8    -10%   92.6
 operating activities**                                                         
--------------------------------------------------------------------------------
Equity ratio, %                                      53%      53%            57%
--------------------------------------------------------------------------------
Net gearing, %                                       43%      44%            36%
--------------------------------------------------------------------------------
Capital expenditure         5.1     5.0      2%     10.3      7.6     36%   18.6
--------------------------------------------------------------------------------
Personnel (FTE),          3,714   3,594      3%    3,677    3,576      3%  3,612
 average                                                                        
--------------------------------------------------------------------------------

*Including a non-recurring profit of EUR 69.8 million from the sale of Wärtsilä
shares in Q1 2011 
**Including Wärtsilä dividend of EUR 40.9 million in Q1 2011 (29.5)

Full interim report
The full interim report is published as a pdf file attachment to this summary
stock exchange release and is available on the company's Web site at
www.fiskarsgroup.com. 


News conference:
An analyst and press conference on the second quarter results will be held on
August 5, 2011, at 10:00 am at the company's headquarters, Fiskars Campus,
Hämeentie 135 A, Helsinki. Presentation material will be available at
www.fiskarsgroup.com. 


FISKARS CORPORATION


Kari Kauniskangas
President & CEO


Further Information:
President and CEO Kari Kauniskangas, tel. +358 204 39 5500
CFO Teemu Kangas-Kärki, tel. +358 204 39 5703


Fiskars is a leading global supplier of consumer products for the home, garden
and outdoors. The group has a strong portfolio of respected international
brands, including Fiskars, Iittala and Gerber. Founded in 1649 and listed on
NASDAQ OMX Helsinki, Fiskars is Finland's oldest company. Fiskars recorded net
sales of EUR 716 million in 2010, and employs some 3,600 people in over 20
countries. www.fiskarsgroup.com

Attachments:

Fiskars_Q2_2011_ENG.pdf