EBIT guidance 17% below cons. for Q4'22eThe previous FY'22 adj. EBIT guidance indicated positive y-o-y growth vs. FY'21 adj. EBIT of EUR 154m. Tonight's update now guides for EUR 150m adj. EBIT for FY'22, a 3% y-o-y decline.

Sales +3% vs ABGSCe, +9% vs FactSet cons.Adj. EBIT +9% vs ABGSCe, +17% vs FactSet cons.We expect cons. to make low single digit est. revisions Q2’22 outcomeFiskars Q2 report came in with sales of EUR 319m (+3% vs ABGSC 309m, +9% vs cons. 292m), Adj.

Q1 report exceeding both our and cons. expectationsTerra was the shining star with adj. EBIT +14% y-o-yFair value range up to EUR 20-32 (19-29) per shareQ1’22 outcomeDespite facing tough comps, Fiskars grew its group sales by 10% y-o-y, to EUR 333m.

Q1 report due on April 29We expect sales of EUR 281m and adj.