Fiskars has upgraded its outlook for 2021 and expects the comparable EBITA (earnings of a company before interest, taxes, and amortization) for 2021 to be in the range of EUR 160-170 million.
According to a previous outlook issued on June 23, 2021, the comparable EBITA in 2021 was expected to be in the range of EUR 140-160 million.
For the third quarter of 2021, net sales is expected to be approximately EUR 292 million (Q3 2020: 266.7) and comparable EBITA approximately EUR 38 million (39.3). The figures are based on preliminary, unaudited information.
The upgrade is based on the company’s better than expected financial performance during the third quarter, in particular towards the end of the quarter.
A central factor is that Fiskars has so far successfully mitigated the global supply chain challenges, which have previously been highlighted as a material risk for the full-year financial performance.
The seasonality of both trade and consumer demand may continue to differ from a typical year, also towards the end of the year. Trade customers may seek to secure the availability of products by pulling forward orders from the first quarter of 2022 into the fourth quarter of 2021. In addition, there are ongoing challenges in global supply chains as well as increasing raw material and energy price inflation. While the company has managed to mitigate these factors, they continue to pose a risk.
The updated outlook for 2021:
In 2021, comparable EBITA is expected to be in the range of EUR 160-170 million.
The previous outlook for 2021 (issued on June 23, 2021):
In 2021, comparable EBITA is expected to be in the range of EUR 140-160 million.
Fiskars will publish the Interim Report for January-September 2021 on October 29, 2021.