Fiskars Corporation lowers its outlook for comparable EBITA in 2019, comparable net sales outlook unchanged
Fiskars Corporation
Insider Information
May 17, 2019 at 08:30 EEST
Fiskars Corporation lowers its outlook for comparable EBITA in 2019, comparable net sales outlook unchanged
Fiskars Corporation lowers its guidance for the comparable EBITA for the full year 2019. Fiskars now expects that the comparable EBITA will be below the previous year’s level. Previously, Fiskars expected comparable net sales and comparable EBITA to be at the same level as in 2018. The guidance for comparable net sales remains unchanged and is expected to be at the same level as in 2018. The comparable EBITA will be negatively impacted as the U.S. decided to increase tariffs on imports from China.
”We have said earlier in our guidance that there are material risks relating to potential changes in the operating environment, including the U.S. tariffs. We have a considerable business in the U.S, and a part of the product offering is imported from China. While we are taking determined measures to mitigate the impact, the increased tariffs will have an effect on our comparable EBITA. The final impact will be dependent on our full year product mix”, said Jaana Tuominen, President and CEO, Fiskars Corporation.
The updated outlook for 2019:
In 2019, Fiskars expects the Group's comparable net sales to be at the same level as in 2018 and comparable EBITA to be below the previous year’s level.
The outlook is influenced by the company’s investments in growth initiatives that are expected to add sustainable value in the long-term. In addition, there are continued material risks relating to changes in the operating environment, e.g. Brexit and potential further increases to the U.S. tariffs. An unfavorable outcome of these risks might have a significant impact on the comparable net sales and comparable EBITA. Furthermore, fluctuations in currency rates might also have a considerable impact on comparable EBITA.
The previous outlook for 2019:
Previously, Fiskars expected the Group's comparable net sales and comparable EBITA to be at the same level as in 2018.
The outlook is influenced by the company’s investments in growth initiatives that are expected to add sustainable value in the long-term. In addition, there are material risks relating to changes in the operating environment, e.g. Brexit and the U.S. tariffs. An unfavorable outcome of these risks might have a significant impact on the comparable net sales and comparable EBITA. Furthermore, fluctuations in currency rates might also have a considerable impact on comparable EBITA.
Fiskars will publish its half-year financial report January-June 2019 on August 1, 2019.
FISKARS CORPORATION
Jaana Tuominen
President and CEO
Media and investor contacts:
Corporate Communications, tel. +358 40 708 1181, communications@fiskars.com
Making the everyday extraordinary
Fiskars Corporation’s purpose is to make the everyday extraordinary. With our family of lifestyle brands including Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood, we want to create a positive, lasting impact on our quality of life. Our products are available in more than 100 countries and we employ around 7,600 people in over 30 countries. Please visit us at www.fiskarsgroup.com for more information.