ANNUAL REPORT 2012

Fiskars 2012

President's review

 

Against the background of a volatile overall business environment and weakening economic climate in Europe, Fiskars’ business performed steadily in 2012. We were able to deliver the company’s record in operating profit for the third year in a row while carrying significantly increased costs related to our transformation programs in both structures and platforms in EMEA.

Our key international brands Fiskars, Iittala, and Gerber perform well even in turbulent economic times and function as our engine of growth. Combining this with improved operational efficiency in Europe enabled us to reach 2011 levels both in sales and operating profit.

During the year we implemented our new business model in EMEA into an organization that sets a clear focus for business areas and sales organization. Each unit now has a clear growth path and priority list. The changes we made in 2012 yet again strengthened the foundation for Tomorrow’s Fiskars, a world-class branded consumer goods company.

This, already fifth year of consistent progress on our transformation path again proved that we are on the right track. It also provided us an opportunity to reflect on our progress and to refine our vision and growth ambition.

Building on our plus 360-year heritage, Fiskars’ mission is to enrich consumers’ lives with lasting products that increase enjoyment and solve everyday problems. Our vision is clear: to become a global branded consumer goods company. This we will achieve through leveraging our strategic cornerstones: a strong financial position, iconic products, strong brands and global growth ambition.

Fiskars is a company with a clear ambition to grow; we want to outperform market growth while maintaining solid long-term profitability. Our growth strategy is threefold, to gain market share in current businesses and markets, invest in and enter new categories and to expand into new, potentially high growth markets. This we will do by continuously investing in our brands and marketing and by excelling in sales - but also through acquisitions, if they fit our business model and strategy.

At the end of 2012 we were proud to announce the addition of the renowned Danish porcelain company, Royal Copenhagen to our brand portfolio. Royal Copenhagen is a natural fit for Fiskars: it expands our dining offering with highly esteemed, hand-painted porcelain and strengthens our position in Asia.

I believe that Tomorrow’s Fiskars offers interesting opportunities and continued strong financial performance. Once again, I’d like to thank all our stakeholders for putting their trust in our journey and welcome you all to share our continued success in 2013 – another year that we look forward to with confidence.

 

Kari Kauniskangas

President & CEO

 

 

”A year of record operating profit and strong progress in the execution of strategy.”

-Kari Kauniskangas, President & CEO