The Fiskars Group has released its financial statement for 2021, reporting positive results for the year.
The group’s Vita sector which covers premium and luxury products for the tableware, drinkware and interior categories – made up of brands such as Iittala, Royal Copenhagen, Waterford and Wedgwood – reported an increase in net sales of 19.3 per cent for Q1-Q4 2021 to EUR 544.6 million (Q1-Q4 2020: 456.6). Comparable net sales increased by 19.3 per cent, rebounding from a difficult first half of 2020, when the pandemic had a more significant negative impact on the financial performance.
Net sales increased for most of the brands and in nearly all important markets. Growth was strongest in China, the Americas and the Nordics. On a channel level, net sales increased most in e-commerce, both direct and indirect. The entire direct channel posted growth figures, even though temporary store closures still had a negative impact on net sales.
Comparable EBITA in the Vita segment increased to EUR 86.7 million (41.0). The comparable EBITA was supported by a number of factors. Sales volumes increased, pricing improved and the channel mix was more favorable, driven by a higher share of the direct channel. The profitability for the English & Crystal brands has improved. The positive impact from the completed programs has increasingly supported profitability. At the same time, the previous year’s figures were supported by temporary cost savings. Increased spending to accelerate growth had a negative impact on comparable EBITA.
However, the company points towards “ongoing challenges in global supply chains as well as raw material and energy price inflation” for the year ahead, and says while Fiskars “has managed to mitigate these factors, they continue to pose a risk for 2022 performance”.
“We had a strong finish to the year, as the fourth quarter marked the seventh consecutive quarter of net sales growth. Comparable EBITA increased by 23% in 2021, making it by far the strongest year in the company’s history. While the full-year performance was driven by business area Vita, both Terra and Crea also performed well against an exceptionally strong comparison period,” said Fiskars Group president and CEO, Nathalie Ahlström.
To see the full report visit: HERE.