Fiskars’ restated segment information for 2016 according to the new organizational structure
Fiskars Corporation
Stock Exchange Release
April 20, 2017 at 8:30 EEST
Fiskars’ restated segment information for 2016 according to the new organizational structure
Fiskars has today published restated quarterly segment information for the year 2016 concerning the new primary reporting segments: Living, Functional and Other segment as well as the geographical segments Europe, Americas, and Asia-Pacific.
As announced on November 10, 2016, Fiskars has changed its organizational structure with the aim to leverage the full potential of its strong brands, build company-wide capabilities and increase speed and alignment. Starting from January 2017, the new structure features two Strategic Business Units (SBU): Living and Functional. Following the changes in the organizational structure, Fiskars also revised its financial reporting structure.
As of Q1 2017, Fiskars’ three primary reporting segments are: Living, Functional, and Other. In addition, Fiskars reports group-level net sales for three geographical reporting segments: Europe, Americas, and Asia-Pacific.
SBU Living offers premium and luxury products for tabletop, giftware and interior décor. It consists of the English & Crystal Living and Scandinavian Living businesses. English & Crystal Living business includes brands such as Waterford, Wedgwood, Royal Albert, and Royal Doulton. Scandinavian Living business includes brands such as Iittala, Royal Copenhagen, Rörstrand, and Arabia.
SBU Functional provides tools for use in and around the house as well as outdoors, and consists of brands such as Fiskars, Gerber, and Gilmour. The former Outdoor business operates as a part of the SBU Functional.
Other segment contains the Group’s investment portfolio, real estate unit, corporate headquarters, and shared services.
Fiskars presents the following restated, comparable and unaudited historical information: quarterly key figures for primary reporting segments in 2016: Living, Functional and Other, as well as geographical reporting segments: Europe, Americas, and Asia-Pacific.
| NET SALES BY SEGMENT | |||||
| EUR million | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | 2016 |
| Living | 128.9 | 125.0 | 144.8 | 199.4 | 598.1 |
| Functional | 166.4 | 167.5 | 134.9 | 133.9 | 602.7 |
| Other | 0.9 | 1.0 | 1.1 | 0.8 | 3.8 |
| Group total | 296.2 | 293.5 | 280.8 | 334.1 | 1 204.6 |
| ADJUSTED EBITA BY SEGMENT | |||||
| EUR million | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | 2016 |
| Living | 3.7 | -0.6 | 16.9 | 39.4 | 59.4 |
| Functional | 23.0 | 23.8 | 9.8 | 0.6 | 57.1 |
| Other | -1.7 | -2.3 | -1.8 | -3.7 | -9.5 |
| Group total | 25.0 | 20.9 | 24.9 | 36.3 | 107.1 |
| ADJUSTED OPERATING PROFIT (EBIT) BY SEGMENT | |||||
| EUR million | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | 2016 |
| Living | 1.7 | -2.8 | 14.8 | 37.1 | 50.8 |
| Functional | 21.9 | 22.4 | 8.5 | -1.1 | 51.8 |
| Other | -1.7 | -2.3 | -1.8 | -3.0 | -8.7 |
| Group total | 21.9 | 17.3 | 21.6 | 33.0 | 93.8 |
| OPERATING PROFIT (EBIT) BY SEGMENT | |||||
| EUR million | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | 2016 |
| Living | 0.7 | -3.8 | 19.4 | 32.7 | 49.0 |
| Functional | 20.6 | 22.1 | 2.8 | -5.2 | 40.3 |
| Other | 2.3 | -3.5 | -2.1 | -3.4 | -6.7 |
| Group total | 23.7 | 14.8 | 20.1 | 24.1 | 82.7 |
| CAPITAL EXPENDITURE BY SEGMENT | |||||
| EUR million | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | 2016 |
| Living | 3.0 | 3.7 | 3.1 | 5.0 | 14.9 |
| Functional | 4.6 | 5.3 | 6.2 | 5.7 | 21.8 |
| Other | 0.6 | 1.1 | 0.3 | -1.1 | 0.9 |
| Group total | 8.2 | 10.2 | 9.6 | 9.6 | 37.6 |
| NET SALES BY GEOGRAPHICAL SEGMENTS | |||||
| EUR million | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | 2016 |
| Europe | 135.0 | 131.9 | 126.1 | 162.2 | 555.3 |
| Americas | 128.8 | 128.5 | 116.4 | 116.2 | 489.9 |
| Asia-Pacific | 33.0 | 33.3 | 34.0 | 53.0 | 153.3 |
| Unallocated* | -0.6 | -0.1 | 4.3 | 2.7 | 6.2 |
| Group total | 296.2 | 293.5 | 280.8 | 334.1 | 1 204.6 |
* Geographically unallocated exchange rate differences
FISKARS CORPORATION
Teemu Kangas-Kärki
Interim CEO and President
Media and investor contacts
VP, Corporate Communications and Sustainability Maija Taimi, tel. +358 204 39 5031, communications@fiskars.com
Fiskars – Making the everyday extraordinary
Fiskars serves consumers and customers around the world with globally recognized brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood. Building on our mission to create a family of iconic lifestyle brands, Fiskars’ vision is to create a positive, lasting impact on our quality of life. Please visit www.fiskarsgroup.com for more information.