Brief: Fiskars Corporation Lowers Guidance For 2023

Fiskars

12/10/2023 10:01

Oct 12 (Reuters) - Fiskars Oyj Abp  FSKRS.HE :
    * INSIDE INFORMATION, PROFIT WARNING: FISKARS CORPORATION
LOWERS
ITS GUIDANCE FOR 2023 AND PUBLISHES PRELIMINARY INFORMATION FOR
Q3 2023
    * NOW EXPECTS COMPARABLE EBIT IN 2023 TO BE IN RANGE OF EUR
100-120 MILLION
    * PREVIOUSLY COMPANY EXPECTED COMPARABLE EBIT TO BE IN RANGE
OF
EUR 120-130 MILLION
    * CHALLENGING MARKET CONDITIONS IN SECOND HALF OF YEAR AS
WELL AS
IMPACT FROM GEORG JENSEN ACQUISITION.
    * NET SALES ARE EXPECTED TO DECLINE BY 13% TO APPROXIMATELY
EUR
240 MILLION
    * CHALLENGING AND VOLATILE MARKET CONDITIONS ARE EXPECTED TO
CONTINUE IN Q4, TYPICALLY MOST IMPORTANT SEASON FOR BUSINESS
AREA VITA
    * LOW CONSUMER CONFIDENCE IN COMPANY'S MAIN MARKETS AS WELL
AS
RETAILER CUSTOMERS' FOCUS ON INVENTORY MANAGEMENT ARE AFFECTING
DEMAND
    * INVENTORY FAIR VALUATION IS, HOWEVER, EXPECTED TO HAVE A
NEGATIVE IMPACT ON EARNINGS PER SHARE IN 2023

Source text for Eikon:  ID:nWkr9ZBDHw 
Further company coverage:  FSKRS.HE 

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