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<br /> <br /> annual report 2010<br /> 2–13<br /> CompanY<br /> 2010 in brief 2<br /> president’s review 4<br /> Strategy 6<br /> Brands 10<br /> Business environment 12<br /> <br /> <br /> 14–21<br /> SuStaInaBIlItY<br /> responsibility 16<br /> personnel 20<br /> <br /> Home<br /> <br /> 22–31<br /> BuSIneSSeS<br /> Home 24<br /> Garden 26<br /> outdoor 28<br /> other 30<br /> real estate 30<br /> associated company Wärtsilä 31<br /> <br /> <br /> 32–43<br /> GoVernanCe<br /> Corporate Governance Statement 34<br /> Board of Directors 40<br /> executive Board 42<br /> Business area management 43<br /> <br /> <br /> 44–101<br /> FInanCIal StatementS<br /> report by the Boa
annual report 2010
annual report 2010
2–13CompanY2010 in brief 2president’s review 4
2–13CompanY2010 in brief 2president’s review 4
gardenoutdoorgarden
gardenoutdoorgarden
2010 In BrIeFSolId growthand hIgherproFItS
2010 In BrIeFSolId growthand hIgherproFItS
716 530647net sales totaledeur 716 milli
716 530647net sales totaledeur 716 milli
preSIdent’S reVIewthe new StrategyStartS to
preSIdent’S reVIewthe new StrategyStartS to
5
5
StrategyFISKarS’Strategy dFocuS
StrategyFISKarS’Strategy dFocuS
their needs and behaviors provides uswith the kn
their needs and behaviors provides uswith the kn
StrategyFroM Broad deFInItIonto deterMIned
StrategyFroM Broad deFInItIonto deterMIned
to ensure future growth through unifiedofferings
to ensure future growth through unifiedofferings
BrandSa portFolIoBaSed onclearly deFInedB
BrandSa portFolIoBaSed onclearly deFInedB
Kastehelmi plate, Iittala; ErgoPlus™spade, Fiskar
Kastehelmi plate, Iittala; ErgoPlus™spade, Fiskar
BuSIneSS enVIronMentenrIchIng people’SeVery
BuSIneSS enVIronMentenrIchIng people’SeVery
and France, resulted in a strongimprovement in s
and France, resulted in a strongimprovement in s
FunctIonalItyFor a product to becomea classic,
FunctIonalItyFor a product to becomea classic,
14–21SuStaInaBIlIty16 responsibility20 perso
14–21SuStaInaBIlIty16 responsibility20 perso
reSponSIBIlIty
reSponSIBIlIty
from in-house manufacturing to pro-curement, log
from in-house manufacturing to pro-curement, log
reSponSIBIlItystages throughout the
reSponSIBIlItystages throughout the
the carBon FootprIntoF a lIter oF MIlKIS hIgher
the carBon FootprIntoF a lIter oF MIlKIS hIgher
perSonneldeVelopIngperSonnelMotIVated pe
perSonneldeVelopIngperSonnelMotIVated pe
eMployeeengageMentand SatISFactIonare at the h
eMployeeengageMentand SatISFactIonare at the h
InnoVatIonInnovation lies atthe core of our br
InnoVatIonInnovation lies atthe core of our br
22–31BuSIneSSeS24 home26 garden28 outdoor
22–31BuSIneSSeS24 home26 garden28 outdoor
hoMenew t
hoMenew t
and launched in early 2010. the company also
and launched in early 2010. the company also
gardenreInVentInggardenIngFISKarS gardenFocu
gardenreInVentInggardenIngFISKarS gardenFocu
product innovations, such as Fiskars’rainwater c
product innovations, such as Fiskars’rainwater c
outdooreQuIpMentFor peopleon the MoVeFISKarS
outdooreQuIpMentFor peopleon the MoVeFISKarS
mented by a growing online busi-ness. the new ge
mented by a growing online busi-ness. the new ge
otherdeVelopIngour aSSetSFISKarS’ otherFunct
otherdeVelopIngour aSSetSFISKarS’ otherFunct
positive further growth and develop-ment in the
positive further growth and develop-ment in the
deSIgngreat design combinesbeauty, form, andf
deSIgngreat design combinesbeauty, form, andf
32–43goVernance34 corporate governanceStateme
32–43goVernance34 corporate governanceStateme
goVernancecorporategoVernanceStateMentFor
goVernancecorporategoVernanceStateMentFor
ultIMate decISIon-MaKIng power IS VeStedIn Shar
ultIMate decISIon-MaKIng power IS VeStedIn Shar
goVernancethe Managing director, w
goVernancethe Managing director, w
the MaIn FeatureSoF the Internalcontrol and rIS
the MaIn FeatureSoF the Internalcontrol and rIS
goVernancerISK ManageMentFiskars
goVernancerISK ManageMentFiskars
reMuneratIonBoard’s remunerationthe annual gene
reMuneratIonBoard’s remunerationthe annual gene
Board oF dIrectorSKaj-gustaf Bergh (1955)chair
Board oF dIrectorSKaj-gustaf Bergh (1955)chair
From left to right: Kaj-Gustaf Bergh, Louise From
From left to right: Kaj-Gustaf Bergh, Louise From
executIVe BoardKari Kauniskangas (1962)preside
executIVe BoardKari Kauniskangas (1962)preside
BuSIneSS area ManageMentJaakko autere (1963)pr
BuSIneSS area ManageMentJaakko autere (1963)pr
we deVelopproductSthat leadthe way InFunctIon
we deVelopproductSthat leadthe way InFunctIon
FInancIal StateMentS 201044–81report by the B
FInancIal StateMentS 201044–81report by the B
report By the Board oF dIrectorSreport By t
report By the Board oF dIrectorSreport By t
cash and deposits at the end of theperiod we
cash and deposits at the end of theperiod we
report By the Board oF dIrectorS the wage
report By the Board oF dIrectorS the wage
public accountant Mr. Mauri palvi asresponsible
public accountant Mr. Mauri palvi asresponsible
CONSOLIDATED FINANCIAL STATEMENTS, IFRSCONSOLI
CONSOLIDATED FINANCIAL STATEMENTS, IFRSCONSOLI
CONSOLIDATED BALANCE SHEETM€
CONSOLIDATED BALANCE SHEETM€
CONSOLIDATED STATEMENT OF CASH FLOWSM€
CONSOLIDATED STATEMENT OF CASH FLOWSM€
STATEMENT OF CHANGES IN CONSOLIDATED EQUITY
STATEMENT OF CHANGES IN CONSOLIDATED EQUITY
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
hensive income and cash flows of foreignsubsidiar
hensive income and cash flows of foreignsubsidiar
Residual values and expected useful livesare rea
Residual values and expected useful livesare rea
through profit or loss upon initial recog-nition
through profit or loss upon initial recog-nition
using tax rates enacted or substantivelyenacted
using tax rates enacted or substantivelyenacted
2. SEGMENT INFORMATIONFiskars' operating segment
2. SEGMENT INFORMATIONFiskars' operating segment
2009
2009
3. NON-RECURRING ANDRESTRUCTURING COSTFiskars
3. NON-RECURRING ANDRESTRUCTURING COSTFiskars
7. EMPLOYEE BENEFITS ANDNUMBER OF PERSONNELEmp
7. EMPLOYEE BENEFITS ANDNUMBER OF PERSONNELEmp
Deferred income taxes in the balance sheet2010R
Deferred income taxes in the balance sheet2010R
2009RecognizedDeferred tax assets
2009RecognizedDeferred tax assets
11. GOODWILLM€
11. GOODWILLM€
12. OTHER INTANGIBLE ASSETSM€
12. OTHER INTANGIBLE ASSETSM€
13. PROPERTY, PLANT AND EQUIPMENT2010
13. PROPERTY, PLANT AND EQUIPMENT2010
14. BIOLOGICAL ASSETSM€
14. BIOLOGICAL ASSETSM€
17. FINANCIAL ASSETSInvestments at fair value t
17. FINANCIAL ASSETSInvestments at fair value t
21. SHARE CAPITAL2010 2009
21. SHARE CAPITAL2010 2009
22. FINANCENon-current interest-bearing debt
22. FINANCENon-current interest-bearing debt
Maturity of liabilitiesAs of December 31, 2010 t
Maturity of liabilitiesAs of December 31, 2010 t
Average interest rates and sensitivity analysis o
Average interest rates and sensitivity analysis o
Fair value of derivativesM€
Fair value of derivativesM€
Financial risk managementFinancial risks are man
Financial risk managementFinancial risks are man
As of the end of the year, the Group's sales rece
As of the end of the year, the Group's sales rece
Amounts recognized in the Balance SheetM€
Amounts recognized in the Balance SheetM€
24. PROVISIONSOnerous2010
24. PROVISIONSOnerous2010
26. RELATED PARTY TRANSACTIONSFiskars has no sig
26. RELATED PARTY TRANSACTIONSFiskars has no sig
27. SUBSIDIARIES AND OTHER PARTICIPATIONSShares
27. SUBSIDIARIES AND OTHER PARTICIPATIONSShares
FINANCIAL INDICATORSFIVE YEARS IN FIGURES201
FINANCIAL INDICATORSFIVE YEARS IN FIGURES201
SHARE RELATED FIGURES2010 2009
SHARE RELATED FIGURES2010 2009
CALCULATION OF FINANCIAL INDICATORSEarnings bef
CALCULATION OF FINANCIAL INDICATORSEarnings bef
PARENT COMPANY FINANCIAL STATEMENTS, FASPARENT
PARENT COMPANY FINANCIAL STATEMENTS, FASPARENT
PARENT COMPANY BALANCE SHEETM€
PARENT COMPANY BALANCE SHEETM€
M€
M€
PARENT COMPANY STATEMENT OF CASH FLOWSM€
PARENT COMPANY STATEMENT OF CASH FLOWSM€
STATEMENT OF CHANGES IN PARENT COMPANY SHAREHOLDE
STATEMENT OF CHANGES IN PARENT COMPANY SHAREHOLDE
NOTES TO THE FINANCIAL STATEMENTSOF PARENT COMPA
NOTES TO THE FINANCIAL STATEMENTSOF PARENT COMPA
2. NET SALESM€
2. NET SALESM€
7. FINANCIAL INCOME AND EXPENSESM€
7. FINANCIAL INCOME AND EXPENSESM€
9. INCOME TAXES ITEMSM€
9. INCOME TAXES ITEMSM€
2009
2009
Shares in subsidiaries Number
Shares in subsidiaries Number
17. SHAREHOLDERS' EQUITYM€
17. SHAREHOLDERS' EQUITYM€
18. APPROPRIATIONSM€
18. APPROPRIATIONSM€
BOARD'S PROPOSALFOR THE ANNUALGENERAL MEETING
BOARD'S PROPOSALFOR THE ANNUALGENERAL MEETING
AUDITORS' REPORTTo the Annual General Meeting
AUDITORS' REPORTTo the Annual General Meeting
SHARES AND SHAREHOLDERSInformation on the sha
SHARES AND SHAREHOLDERSInformation on the sha
Share ownership, December 31, 2010
Share ownership, December 31, 2010
ANNUAL REVIEW OFINFORMATION PUBLISHED IN 2010
ANNUAL REVIEW OFINFORMATION PUBLISHED IN 2010
2011 at 3.00 p.m. on the Fiskars Corporation's we
2011 at 3.00 p.m. on the Fiskars Corporation's we
Fiskars is present in more than 20countries acro
Fiskars is present in more than 20countries acro
InterestedIn learnIngmore about…h
InterestedIn learnIngmore about…h
FunctIonalItYInnoVatIondesIgnFiskars corporat
FunctIonalItYInnoVatIondesIgnFiskars corporat