Fiskars Group(nativelyFiskarsOyj Abp,formerlyFiskarsOy Abuntil 1998),[3]is a Finnish consumer goods company founded in 1649 inFiskars,a locality now in the town ofRaseborg,Finland,about 100 kilometres (62 mi) west ofHelsinki.It is one of theoldest continuously operating companies in the World.Fiskars' global headquarters are located in theKeilaniemidistrict of Espoo, near Helsinki.
 | |
Native name | Fiskars Oyj Abp |
|---|---|
| Company type | Julkinen osakeyhtiö |
| Nasdaq Helsinki:FSKRS | |
| Industry | Consumer products |
| Founded | 1649 |
| Headquarters | , |
Key people |
|
| Products | Scissors, gardening tools, kitchenware, glassware, ceramics, knives, outdoor equipment |
| Revenue |  €1.25 billion(2022)[1] |
 €151 million (2022)[1] | |
| €98.2 million (2022)[1] | |
| Total assets | €1.59 billion (2022)[1] |
| Total equity | €835.6 million (2022)[1] |
Number of employees | 6,595 (as of 31 December 2022)[1] |
| Parent | Fiskars Group |
| Subsidiaries | List
|
| Website | fiskarsgroup |
| Footnotes / references [2] | |
Fiskars is best known for its orange-handledscissors,created in 1967. The company operates as an integrated consumer goods company and has two strategic business units: SBU Living and SBU Functional.[4]
History
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Fiskars Corporation was formed in 1649, when a Dutch merchant named Peter Thorwöste was given a charter byChristina, Queen of Swedento establish ablast furnaceand forging operation in the small village ofFiskars;however, he was not permitted to produce cannons.[5]This makes it the oldest privately owned company in Finland.[6]The furnace producedpig ironthat was shingled towrought ironin thefinery forgespowered bywater wheels.In the early years, Fiskars made nails, wire, hoes, and metal-reinforced wheels from wrought iron.
In the late eighteenth century,copperwas discovered in nearby Orijärvi, and thus the focus of production shifted to processing copper from the Orijärvi mine. For almost 80 years, Fiskars main source of business came from copper, however by the nineteenth century, there was little copper left in Orijärvi.[7]
In 1822, the apothecary Johan Jacob Julin (later, von Julin) fromTurkuacquired the Fiskars ironworks and village. During this time, the ironworks were actively developed and production focused on processing iron. In 1832, the first cutlery mill in Finland was founded in Fiskars, with the production range increasing from knives to includeforksandscissors.
In 1915, Fiskars was listed on theHelsinki Stock Exchange.In September 2015, Fiskars celebrated 100 years of being listed on the Nasdaq Helsinki Stock Exchange, along withNokia,WärtsiläandUPM.[7]
Fiskars is perhaps best known for itsscissorsand their distinct orange colored handles. The first pair was manufactured in 1967 and had prototypes with handles in black, red, green and orange. After an internal vote at Fiskars, the orange color was chosen. That same orange color, Fiskars Orange, was officially registered as a trademark in Finland in 2003 and in the US in 2007.[7]In 1977, Fiskars founded a scissors factory in the United States to provide a basis for international trade and further expansion.
In 2007, Fiskars acquired both Iittala[8]and Leborgne[9]which strengthened the company's position in the kitchenware and table top categories as well as the garden tools business. The acquisition of Royal Copenhagen in 2013 complemented Fiskars tableware offering with hand-painted porcelain and strengthened the company in the Nordic countries and in Asia. In 2015, Fiskars acquired theWaterford Wedgwood group of companies (WWRD)and its portfolio of luxury home and lifestyle brands.[10]
In April 2020, Fiskars Group President andCEOJaana Tuominenstepped down from her position withCFOSari Pohjonenappointed interim CEO.[11]Nathalie Ahlström started as the new President and CEO.[12]The company's net sales had been on a downward trend and the company had not had a clear growth strategy. At the end of 2021, a new strategy was announced, focusing on five brands: Fiskars, Iittala, Royal Copenhagen, Gerber and Moomin Arabia. The company's main channel was its own channels: shops and online stores.[13]
In 2022, the divestment of the company's American watering business, in other words the Gilmour and Nelson brands, was finished.[14]Fiskars Group's new head office was completed in spring in Espoo, between theKeilaniemi metro stationand theJokeri Light Railterminal.[15]In October, Fiskars Group announced that it would make 10 million euros energy investment at the Iittala glass factory. As a result, the factory's existing, natural gas powered furnaces will be replaced with electricity-powered furnaces. With this investment, the glass factory will reduce its annual carbon dioxide emissions by 74 per cent by the end of 2026.[16]
Today
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Fiskars Corporation is made up of two strategic business units: SBU Living and SBU Functional. Fiskars' three primary reporting segments are Living, Functional and Other. Fiskars' Other-segment contains the Group's investment portfolio, the real estate unit, corporate headquarters and shared services. In addition, Fiskars reports group-level net sales for three secondary reporting segments: Americas, Europe and Asia-Pacific.[15]
SBU Functional creates tools for use in and around the house and outdoors under brands such as Fiskars andGerber.SBU Living offers a wide range of products for tabletop, giftware and interior décor under brands such asIittala,Wedgwood,Waterford,Royal Copenhagen,Arabia,RörstrandandRoyal Doulton.
Fiskars' products are available in more than 100 countries and after the acquisition of WWRD, the company employs around 8,600 people in over 30 countries.[10]Fiskars headquarters are located at Fiskars Campus in the Arabianranta district of Helsinki.
Financial
editIn 2015, Fiskars recorded net sales of 1,105 million euros and an adjusted operating profit of 65.1 million euros. Cash flow from operating activities was 47.6 million euros.[17]
In 2016, Fiskars recorded net sales of 1,204.6 million euros and an adjusted operating profit of 93.8 million euros. Cash flow from operating activities was 83.8 million euros.[18]
References
edit- ^abcdef"Financials | Fiskars Corporation".fiskarsgroup.Retrieved2023-05-04.
- ^"FSKRS, Fiskars Oyj Abp, (FI0009000400)".NASDAQ.Retrieved18 November2017.
- ^"Fiskars Oyj Abp".Kauppalehti(in Finnish).Retrieved5 June2024.
- ^"Highlights 2016 - Fiskars".Fiskars.Retrieved2017-03-20.
- ^"Fiskars Village History".Retrieved2017-11-19.
- ^G. Kock."Suomen vanhimmat yritykset listattu".porssitieto.fi.Retrieved2017-11-11.
- ^abc"Fiskars 1649 - 365 years of Finnish Industrial History"(PDF).fiskarsgroup.Fiskars Oyj Abp. 2009.Retrieved2017-01-10.
- ^"FISKARS ACQUIRES IITTALA GROUP | Fiskars Corporation".fiskarsgroup.2007-06-29.Retrieved2017-01-10.
- ^"FISKARS ACQUISITION OF LEBORGNE FINALIZED | Fiskars Corporation".fiskarsgroup.2007-05-21.Retrieved2017-01-10.
- ^ab"Fiskars Corporation acquires the renowned WWRD and extends its portfolio with iconic luxury home and lifestyle brands | Fiskars Corporation".fiskarsgroup.2015-05-11.Retrieved2017-01-10.
- ^Maija, Taimi."Fiskars Group President and CEO Jaana Tuominen to step down, CFO Sari Pohjonen appointed interim CEO".Fiskars.Fiskars Business Group.Retrieved21 April2020.
- ^Startel (2020-09-02)."Fiskarsin uusi toimitusjohtaja aloittaa marraskuun lopussa".Ilta-Sanomat(in Finnish).Retrieved2023-04-17.
- ^Palmén, Joanna."Kotoilubuumi antoi Fiskarsille vain alkuvauhdit – Näin komeasti ja itsevarmasti bränditalo on kattanut pöytänsä".Talouselämä(in Finnish).Retrieved2023-04-17.
- ^Nihtinen, Rono."Fiskars luopuu Pohjois-Amerikan kastelutuotteistaan".Tärkeimmät talousuutiset | Kauppalehti(in Finnish).Retrieved2023-04-17.
- ^ab"Introducing Fiskars | Fiskars Corporation".fiskarsgroup.Retrieved2017-01-10.
- ^Herrala, Olli."Fiskars investoi 10 miljoonaa euroa Iittalan lasitehtaaseen – Ministeriö myönsi 2,9 miljoonan euron rahoituksen".Talouselämä(in Finnish).Retrieved2023-04-17.
- ^"Fiskars Annual Report 2015"(PDF).Fiskars Corporation.Retrieved2017-01-10.
- ^"Fiskars Group Annual Report 2016"(PDF).Fiskars Group.Retrieved18 November2017.
External links
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