Fiskars Corporation comparable EBITA unlikely to increase in 2020 due to the COVID-19 outbreak
Fiskars Corporation
Insider Information
March 19, 2020 at 09:00 EET
Fiskars Corporation comparable EBITA unlikely to increase in 2020 due to the COVID-19 outbreak
Fiskars Corporation withdraws its guidance on the outlook for 2020, which was issued on February 5, 2020. Due to the corona virus outbreak, the comparable EBITA is unlikely to increase in 2020. As the situation evolves rapidly, it is too early to make reasoned estimates on the potential impact. Fiskars expects to guide the outlook for the full year 2020, once a more reliable estimate on the potential impact can be made.
“We are facing an unforeseen situation and are taking all measures to deal with the outbreak as it evolves. The health and wellbeing of our people is a key priority. We have started to see an impact on demand. We have stated earlier in our guidance that the repercussions from the novel corona virus outbreak could have an impact on the full year development, and this risk is now materializing”, said Jaana Tuominen, President and CEO, Fiskars Corporation.
The previous outlook for 2020:
“Fiskars expects the comparable EBITA to increase in 2020 from 2019. Fluctuations in currency rates might have a considerable impact on comparable EBITA.
Fiskars continues to invest in future growth and is focused on improving profitability through the ongoing transformation programs, which are expected to be completed by the end of 2021. Therefore, the company is not providing an outlook for comparable net sales for 2020. Furthermore, there are uncertainties in several key markets, such as potential changes in tariffs or repercussions from the novel corona virus outbreak that could have an impact on the full year development.”
Fiskars will publish its interim report January-March 2020 on May 6, 2020.
Jaana Tuominen
President & CEO
FISKARS CORPORATION
Media and investor contacts:
Corporate Communications, tel. +358 204 39 5031, communications@fiskars.com
Making the everyday extraordinary
Fiskars Group’s vision is to create a positive, lasting impact on our quality of life. Our brands Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood are present in people’s everyday lives – at home, in the garden, and outdoors. This gives us an opportunity to make the everyday extraordinary today, and for future generations. We employ approximately 7,000 people in 30 countries, and our products are available in more than 100 countries. Our shares are listed on the Nasdaq Helsinki (FSKRS). Please visit us at www.fiskarsgroup.com for more information and follow us on Twitter @fiskarsgroup.