Fiskars - Company Announcement

Fiskars continues the optimization of its supply chain with a restructuring program

Fiskars Corporation
Stock Exchange Release
September 9, 2015 at 8:00 EET

Fiskars continues the optimization of its supply chain with a restructuring
program 

Fiskars Corporation announces a restructuring program to continue to optimize
its global supply chain network in Europe and Asia. The planned Supply Chain
2017 -program aims to improve the competitiveness of Fiskars manufacturing
operations and distribution network. 

The total costs of the planned program are approximately EUR 20 million in
2015-2017, which are planned to be recorded as non-recurring charges. The
targeted annual cost savings are approximately EUR 8 million, subject to the
full implementation of the program. The targeted cost savings would be achieved
gradually, and the majority of the savings are expected to materialize in the
Group's results after the program is completed, which is estimated to be by the
end of 2017. The estimated cost savings targets are based on the potential to
reduce complexity and increase competitiveness in Fiskars' manufacturing
operations and distribution network. Planned measures will be negotiated and
communicated locally in each country when they become more concrete. 

The integration planning with WWRD is in its initial stages and the Supply
Chain 2017 -program is only focused on Fiskars manufacturing operations and
distribution network prior to the WWRD acquisition. 

“Our current restructuring programs are progressing well and we expect to
complete them on schedule. We believe that there are opportunities to further
improve our competitiveness. We will continue to optimize our operations and
identify areas where we can be more effective. Fiskars is consistently building
a platform to be a global consumer goods company”, said Kari Kauniskangas,
President and CEO of Fiskars Corporation. 

Fiskars' current programs are progressing according to their planned schedules.
The investment program launched in 2010 in Europe aims to ensure
competitiveness through well-functioning processes and systems which enable
shared functions and structures. The costs and investments related to the
program are estimated at EUR 65 million, of which approximately EUR 55 million
had been recorded by the end of 2014. As communicated before, the
implementation period is running till the end of 2016. 

In 2013, Fiskars launched a restructuring program to optimize operations and
sales units in Europe. The EMEA 2015 program will be completed by the end of
this year. The total cost of the program will be approximately EUR 25 million,
four million euro less than originally estimated at the time of the program
launch. The targeted annual cost savings of the program are approximately EUR
13 million and exceed the previously announced estimate of EUR 9-11 million.
The majority of the savings are expected to materialize in the Group's results
as of the end of 2015, once the program is fully implemented. 


FISKARS CORPORATION

Kari Kauniskangas
President and CEO

Media and analyst contacts:
Head of Corporate Communications and Corporate Responsibility Maija Taimi, tel.
+358 204 39 5031 
communications@fiskars.com


Fiskars - celebrating centuries of pride, passion and design. Every day.
Established in 1649 as an ironworks in a small Finnish village, Fiskars has
grown to be a leading consumer goods company with globally recognized brands
including Fiskars, Iittala, Gerber, Wedgwood and Waterford. With iconic
products, strong brands and global ambitions, Fiskars' mission is to enrich
people's lives in home, garden and outdoor. Fiskars' products are available in
more than 100 countries and the company employs around 8,600 people in 30
countries. Fiskars is listed on Nasdaq Helsinki.www.fiskarsgroup.com

Attachments:

20150909 Supply chain 2017_eng.pdf