Fiskars: Soft 2021 outlook sends shares down
05/02/2021 09:02
** Shares in the kitchenware and gardening tools maker
Fiskars FSKRS.HE fall 5% after it posted cautious 2021 outlook
despite higher Q4 sales and profits amid boosted demand from
consumers staying at home
** The company expects 2021 comparable EBITA to be lower
than in 2020, and added visibility continues to be low due to
the COVID-19 pandemic urn:newsml:reuters.com:*:nFWN2KA1LK
** It also added the pandemic had a significant negative
impact on its premium business area Vita throughout the year
** According to Inderes the guidance was a bit tame after
Fiskars' results benefited from the stay-at-home trend and cost
cuts in 2020
** "Due to soft profitability outlook and bigger than
expected one-offs in 2021 we see a downward pressure in 2021
oper profit estimates," adds the brokerage
($1 = 0.8361 euros)
((joanna.wodzicka@tr.com))