Fiskars Corporation reported that its fourth quarter net sales were flat with the previous year, at 334.1 million EUR; while its net sales increased by 5.1% on a comparable basis. For the full year of 2016 its net sales increased by 8.8% to 1,204 million EUR and its net sales increased by 1.6% on a comparable basis.
Kari Kauniskangas, president and CEO, Fiskars noted: “The year 2016 was marked by strong progress on our strategic journey, with all-time high net sales and adjusted operating profit. This was a major achievement, especially as the integration of the watering business and the English & Crystal Living business are both on-going. I’m particularly proud of the performance in the fourth quarter, driven by the Scandinavian Living and Functional businesses. While our team was going through many changes, including the introduction of a new organizational structure, new leadership teams and plans to increase efficiencies, our net sales were in line with the previous year despite divestments.”
“During 2016, we took several steps in developing Fiskars into a world-class consumer goods company with a family of iconic lifestyle brands,” said Kauniskangas, adding that the company is focusing on building businesses and brands with growth potential and seeking ways to operate more efficiently, and is divesting businesses that do not align with its strategy.
“Our new structure will help us to leverage the full potential of our strong brands, build company-wide capabilities and increase speed and alignment. Above all, our focus will be in meeting and surpassing consumer expectations as we continue to invest in our key brands,” he said.
