The result of the consumer products company Fiskars doubled in April-June compared to the corresponding quarter last year. The result was mainly boosted by effective austerity measures.
- The performance in the second quarter was very variable in terms of categories, channels, regions and brands, says Fiskars' interim CEO Sari Pohjonen in the interim report.
- The Covid-19 pandemic continued to negatively impact our business at the beginning of the quarter, reducing visibility and increasing uncertainty as stores closed and customer flows shrank.
In April-June, Fiskars' net sales increased to EUR 280.0 million from EUR 265.1 million a year ago.
At the same time, operating profit doubled to EUR 20.8 million, compared to EUR 10.5 million a year earlier.
- During the difficult April, net sales and comparable EBITA decreased significantly. The situation clearly improved towards the end of the quarter, Pohjonen says.
- The Terra and Crea business units recorded strong results, supported by strong demand, especially in the Americas and Germany.
The Vita unit, on the other hand, suffered significantly from pandemic containment measures and store closures.
Profit before taxes increased to EUR 16.3 million from EUR 11.8 million.
Fiskars earned EUR 0.14 per share after EUR 0.12 a year ago.
Fiskars withdrew its full-year guidance in March. According to the company, due to the spread of the coronavirus pandemic, it is unlikely that comparable EBITA will grow this year.
- As the situation continues to change rapidly, a reasonable estimate of the potential impact for the whole of 2020 cannot be made at this time, Fiskars says.