Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Fiskars Oyj Abp : Fiskars’ first quarter 2013: Late spring resulted in a slow start to the year

05/03/2013 | 01:52am US/Eastern

Fiskars Corporation
Interim report
Fiskars' first quarter 2013: Late spring resulted in a slow start to the year

Fiskars Corp.Interim Report   January 1 - March 31, 2013          May 3, 2013at 8.30 am EET

First quarter 2013 in brief:

  • Net sales increased 1% to EUR 190.4 million (Q1 2012: 188.3)
  • At parable currency rates and adjusted for the Royal Copenhagen acquisition, sales decreased 7%
  • Operating profit (EBIT) decreased 15% to EUR 14.6 million (17.1)
  • Operating profit excluding non-recurring items decreased 3% to EUR 16.6 million
  • Earnings per share were EUR 0.25 (0.24)
  • Cash flow from operating activities fell to EUR 2.1 million (14.1)
  • Outlook for 2013 unchanged: full-year 2013 net sales and operating profit excluding non-recurring items to be above 2012 levels.

Fiskars President and CEO, Kari Kauniskangas:

"In many of our main markets, traffic in stores was weak and consumer demand low during the first quarter.  Abnormally cold weather delayed spring in both Europe and North America, which affected the Garden business area heavily and resulted in a disappointing start to the year with regards to sales.

Compared to the overall garden retail market, however, Fiskars performed well and strengthened its position. We will now focus on making the most of the shorter than usual spring selling season and securing garden sales for the rest of the year.

Taking into consideration the challenging retail environment, I am particularly pleased that our business focus and operational efficiency helped us deliver a solid operating profit for the quarter. I am also glad to note that many of our brands gained market share and increased their sales in a tough market. Recently acquired Royal Copenhagen performed well and according to our expectations. Following the acquisition, the weight of the fourth quarter increases both in full-year sales and profit due to seasonality typical to homeware products. 

We are keeping our outlook for 2013 unchanged and expect full-year net sales and operating profit excluding non-recurring items to grow."

Group key figures

EUR million Q1 2013 Q1 2012 Change 2012
Net sales 190.4 188.3 1% 747.8
Operating profit (EBIT)* 14.6 17.1 -15% 63.9
Operating profit excluding non-recurring items 16.6 17.1 -3% 63.1
Share of profit from associated pany 9.4 9.8 -5% 47.8
Change in the fair value of standing timber 0.3 -0.4 5.6
Profit before taxes* 24.9 24.5 1% 200.4
Profit for the period* 20.9 20.0 4% 178.9
Earnings per share, EUR 0.25 0.24 4% 2.18
Equity per share, EUR           7.06 6.38 11% 7.56
Cash flow from operating activities** 2.1 14.1 -85% 95.0
Equity ratio, % 55% 55% 66%
Net gearing, % 36% 37% 12%
Capital expenditure 10.1 4.7 114% 32.8
Personnel (FTE), average 4,081 3,377 21% 3,364

* Including non-recurring restructuring costs of 2.1 MEUR in Q1 2013 relating to the re-location of Fiskars Sweden
** Including a Wärtsilä dividend of 25.6 MEUR in Q1 2013 (26.8)


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 pany's Web site at www.fiskarsgroup..

News conference:

An analyst and press conference on the first quarter results will be held on May 3, 2013 at 10:00 am at the pany's headquarters, Fiskars Campus, Hämeentie 135 A, Helsinki. Presentation materials will be available at www.fiskarsgroup..

FISKARS CORPORATION

Kari Kauniskangas
President and CEO

Further information:

  • President and CEO Kari Kauniskangas, tel. +358 204 39 5500
  • CFO Ilkka Pitkänen, tel. +358 204 39 5054


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 pany. Fiskars recorded net sales of EUR 748 million in 2012, and employs some 4,100 people in over 20 countries. www.fiskarsgroup.



distributed by
React to this article
Latest news
Date Title
10:12p AUSTRALIA CHINA : Australian govt denies plans to call off search
10:12p KELLER : Belleville takes additional steps to approve tax incentives for Shrine development
10:12p AMERICAN EXPRESS : Settle income tax with credit or debit cards
10:11p ADARO ENERGY TBK PT : Commodity crash reflects global economic slump
10:11p ENERGY VENTURES : 27 February 2015 - Company Update
10:08p Free Access to Capital Event for Small Business Owners Hosted by VEDC, NLP and UBS Elevating Entrepreneurs
10:06p GOOGLE 'C' : LinkedIn and other companies propose 6 million square feet of offices for north Mountain View
10:06p FORUM ENERGY : Audited results for the year ended 31 December 2014
10:05pDJWoolworths Sells Warehouse Group Stake to James Pascoe
10:04p BOISE CASCADE : announces stock repurchase program (BRIEF)
Latest news
Advertisement
Hot News 
LSK : Indian River returns to "Tradition' by staging "Fiddler on the Roof"
TERTIARY MINERALS : 23 February 2015 - DIRECTOR'S DEALINGS, ISSUE OF WARRANTS, TOTAL VOTING RIGHTS AND CORRECTION
RURELEC : To Pay Off Short-Term Loan As It Eyes Return To Dividends
FALANX : Cyber Insurance Joint Venture
NXP to buy Freescale, create $40 billion company
Most Read News
06:16p OPOWER : reports 4Q loss
06:21p Apple, Google poaching settlement appears headed for approval
06:58pDJCostco Names Citi, Visa as New Credit Partners -- 4th Update
06:51pDJRussia Agrees Dispute Over East Ukraine Gas Won't Endanger EU Supply -- 2nd Update
07:52pDJSpringleaf Nears $4.25 Billion Deal for Citigroup's OneMain -- Update
Most recommended articles
10:05pDJWoolworths Sells Warehouse Group Stake to James Pascoe
09:55p EUR/USD TECHNICAL ANALYSIS : Standstill Above 1.11 Continues
09:55p US DOLLAR TECHNICAL ANALYSIS : Range Top Threatened Anew
09:55p USD/JPY TECHNICAL ANALYSIS : Resistance Sub-121.00 at Risk
09:38p Brent crude oil steadies above $60 after sharp Monday fall
Dynamic quotes  
ON
| OFF