Regulatory press release

Fiskars Corporation: Inside information: Fiskars Group's Business Area Vita plans changes to turn around its financial performance and lay foundations for profitable growth

Fiskars Corporation
Inside information
February 5, 2026 at 8.25 a.m. EET

Inside information: Fiskars Group's Business Area Vita plans changes to turn around its financial performance and lay foundations for profitable growth

Fiskars Group's Business Area (BA) Vita is planning changes to drive a turnaround in its financial performance and lay foundations for profitable growth. The planned changes include simplifying BA Vita's organizational structure to reduce complexity as well as right-sizing capacity and streamlining operations at selected manufacturing and distribution sites.

With the planned changes in its organizational structure, BA Vita is further strengthening its brand-led approach, where the brands have full accountability and responsibility for their direction and offering. This is supported by strong local execution at the market level as well as lean global BA Vita functions, which enable scalability.

In the supply chain, BA Vita is in the process of consolidating all production in Denmark into one location in Glostrup, and has made the decision to outsource its distribution center in the U.S. to improve asset efficiency. BA Vita also plans to right-size capacity at selected European manufacturing sites outside the Nordics.

The planned changes are expected to lead to a net reduction of approximately 310 roles globally in BA Vita, of which slightly more than half is office based. As the planning progresses, BA Vita will engage and work closely with its employees and employee representatives to ensure that they are fully informed and consulted about the proposals. Processes and timelines will vary in different countries and functions.

The planned changes are estimated to result in total annual cost savings of approximately EUR 28 million, of which the majority is from personnel cost savings, and the rest from supply chain efficiencies, external services and other overheads. Close to one third of the total savings is expected to realize in the second half of 2026, and the majority of the rest of the savings in 2027. One-off costs related to the planned changes are expected to amount to a total of approximately EUR 9 million and they will be recorded as items affecting comparability (IAC) during 2026.

"Our aim is to build global, iconic, desirable brands and scale for profitable growth across all our markets. To achieve this, we need a structure and way of operating that reflect our ambitions. The planned actions we have announced today are essential to reset the business and enable a successful turnaround," says Daniel Lalonde, CEO of Vita.

Jyri Luomakoski, Fiskars Group's President and CEO continues: "Our two Business Areas operate independently to ensure flexibility and speed of execution. While BA Fiskars has been able to mitigate the impacts from the challenging tariff environment by repositioning its SG&A cost base, BA Vita is now initiating the required steps for its turnaround. The planned actions relate exclusively to Business Area Vita, with the Group continuing to support the Business Areas through a lean and effective organization."

FISKARS CORPORATION

Jyri Luomakoski
President & CEO

Further information:
Investor and analyst contacts: Essi Lipponen, Director, Investor Relations, tel. +358 40 829 1192
Media contacts: Media Relations, press@fiskars.com, tel. +358 40 553 3151

Fiskars Group in brief

Fiskars Group (FSKRS, Nasdaq Helsinki) is the global home of design-driven brands for indoor and outdoor living. Since 1649, we have designed products of timeless, purposeful, and functional beauty, while driving innovation and sustainable growth. In 2024, Fiskars Group's global net sales were EUR 1.2 billion and we had close to 7,000 employees. We have two Business Areas (BA), Vita and Fiskars.

BA Vita offers premium and luxury products for the tableware, drinkware, jewelry and interior categories. Its well-known brands include Georg Jensen, Royal Copenhagen, Wedgwood, Moomin Arabia, Iittala and Waterford. In 2024, BA Vita's reported net sales were EUR 605 million. Already 50% of BA Vita's net sales comes from direct-to-consumer sales, comprising approximately 500 stores and approximately 60 e-commerce sites.

BA Fiskars consists of the gardening and outdoor categories, in addition to the scissors and creating, as well as cooking categories. The brands include Fiskars and Gerber. In 2024, BA Fiskars' net sales were EUR 547 million.