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Third party research

Fiskars: Elevated guidance risk in continued soft market - Nordea

Fiskars

This is a third party research report and does not necessarily reflect our views or values

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Ahead of Fiskars' Q3 report, we trim our 2025-27 adjusted EBIT estimates by 4-7% and continue to see elevated guidance risk for the remainder of the year. Cautiousness among retailers has likely continued, which could weigh down the Q4 wholesales development. We continue to believe that the company could achieve a relatively sharp turnaround once the demand situation improves, but timing is still highly uncertain with low consumer confidence and tariffs. We derive a lower DCF- and multiples-based fair value range of EUR 11.2-14.1 (13.0-16.2), mainly driven by our lower estimates.
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