Fiskars (FSKRS) Q4 2024 earnings summary

Executive summary

• Achieved record-high Q4 2024 comparable EBIT of EUR 42.9 million, up 14% year-over-year, driven by a gross margin of 49.4% and robust cost savings despite lower volumes and challenging markets.

• Full-year comparable EBIT reached EUR 111.4 million, slightly above last year, with reported net sales up 2.4% to EUR 1,157.1 million, but comparable net sales down 5%.

• Transformation initiatives delivered all-time-high gross margins, improved cost efficiency, and included the completed acquisition of Georg Jensen.

• Board proposes increasing dividend to EUR 0.84 per share, reflecting solid cash position and attractive yield.

• Company split into two legal entities, Fiskars and Vita, completed ahead of schedule, enabling tailored strategies.

Financial highlights

• FY 2024 net sales: EUR 1,157.1 million, up 2.4% reported but down 5% comparable (FX neutral, excl. M&A).

• Q4 comparable net sales declined 2.4% year-over-year to EUR 337.2 million.

• Q4 comparable EBIT up 13.9% year-over-year to EUR 42.9 million; full-year comparable EBIT up 1.1%.

• FY 2024 gross margin: 48.8% (+260 bps YoY); Q4 gross margin: 49.4% (+260 bps YoY).

• FY 2024 free cash flow: EUR 81.7 million, returning to normalized levels after prior year’s record.

Outlook and guidance

• 2025 comparable EBIT expected to improve from 2024 level (EUR 111.4 million), supported by continued gross margin gains and cost savings.

• No significant improvement in market demand expected; growth to be driven by internal initiatives and investments.

• EBIT generation is seasonally weighted to the second half, especially Q4.