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Third party research

Fiskars: Q2 likely to be very weak - Nordea

Fiskars

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

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Fiskars announced a profit warning on 12 June, and now expects adjusted EBIT of EUR 90-110m for 2025. Indirect impacts from US tariffs have materialised clearly faster than the company earlier anticipated, while the demand situation in Europe appears to remain weak. A rapid decline in demand has likely led the company to adjust its sourcing, which we expect to be visible in Q2 through lower gross margins. We assume Fiskars will be able to mitigate part of the negative impacts, but we foresee these measures to be visible only in H2. However, visibility remains very limited. We derive a lower DCF- and multiples-based fair value range of EUR 12.7-16.0 (13.1-16.4). Marketing material commissioned by Fiskars.
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