Fiskars hosted its CMD event yesterday. The company announced new financial targets for 2026-30 which underpin profit turnaround in BA Vita and top line recovery in BA Fiskars. Focus in the CMD was clearly in BA Vita's turnaround and we note the company is clearly turning its focus more back towards wholesale after margin burden from DTC scale up. BA Fiskars has maintained its profitability in a good order and we believe the company can turn its focus on organic growth investments. Given the current macro environment, we do not expect any material changes to consensus expectations while depending of execution of cost savings measures and growth realisation in BA Vita, see upside potential to consensus estimates for 2027E-28E.
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