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"value": "1.1 Basic informationFiskars Oyj Abp(the \u201cCompany\u201d or the \u201cparent company\u201d) is aFinnishpublic limited liability companydomiciled inRaseborgIts registered address isKeilaniementie 10, Espoo, FinlandThe Company\u2019s shares are listed on the Nasdaq Helsinki Ltd. Fiskars Oyj Abp and its subsidiaries together form the Fiskars Group (\u201cFiskars Group\u201d or the \u201cGroup\u201d) thatmanufactures and markets branded consumer goodsglobally. Fiskars Group\u2019s primary reporting segments are Vita, Terra, Crea and Other. The Other segment contains the Group\u2019s investment portfolio, the real estate unit, corporate headquarters and shared services. Fiskars Group reports group-level net sales for three geographical areas: Europe, Americas, and Asia-Pacific. The Group\u2019s international key brands are Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford and Wedgwood.The consolidated financial statements were authorizedfor issue by the Board of Directors of Fiskars Oyj Abp on February 7, 2023. According to the Finnish Limited Liability Companies\u2019 Act, the shareholders have a possibility to approve or reject, or make a decision on altering the financial statements in the Annual General Meeting. The consolidated financial statements include the parent company, Fiskars Oyj Abp, and the subsidiariesin which it holds, directly or indirectly, over 50% of thevoting rights or over which it otherwise has control. Acquired or established subsidiaries are included in the consolidated financial statements from the date control commences until the date that control ceases.Subsidiaries are consolidated using the acquisition method. Inter-company transactions, profit distribution, receivables, payables and unrealized gains between group companies are eliminated in consolidation.The profit or loss for the period attributable to the owners of the parent company and non-controlling interest is presented in the Consolidated Income Statement and the total comprehensive income for the financial year attributable to the owners of the parent company and non-controlling interest is presented in the Statement of Comprehensive Income. The non-controlling interest in equity is presented within equity, separately from the equity of the owners of the parent company.Investments in associates in which Fiskars Group has a significant influence but not control are accounted for using the equity method. Significant influence usually exists when the group holds over 20% of the voting power of the entity or when the group otherwise has significant influence but not control. At the moment, there are no investments in associates with significant influence in the Fiskars Group.Items included in the financial statements of each of the Fiskars Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019).These consolidated financial statements are presented in euros, which is the Group\u2019s presentation currency. In the consolidated financial statements income statements, statements of comprehensive income and cash flows of foreign subsidiaries are translated into the Group\u2019s presentation currency at the average exchange rates for the period. Balance sheet items are translated at exchange rates prevailing at the end of the reporting period. The Translation of financial statements of foreign subsidiariesThe consolidated financial statements were preparedin accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, observing the standards and interpretations effectiveon December 31, 2022. The consolidated financial statements are prepared on historical cost basis except for financial assets andfinancial liabilities which are presented at fair value through profit or loss, and biological assets as well as assets and liabilities related to defined benefit pension plans that are measured at fair value. Financial statements figures are presented mainly in millions of euros with one decimal. Figures presented are subject to rounding, which may cause that the sum of individual figures might differ from the presented aggregated column and row totals.Where necessary, comparative information has beenreclassified to achieve consistency in disclosure withcurrent financial year amounts.resulting exchange differences are recognized in other comprehensive income and presented under cumulative translation differences in equity. The effective portions of the gains or losses on those financial instruments hedging net investments in foreign operations are recognized similarly. When the group disposes of all, or part of that subsidiary, the translation differences accumulated in equity are transferred to profit or loss as part of the gain or loss on disposal.Transactions in foreign currenciesForeign currency transactions are translated using the exchange rates prevailing at the dates of the transactions. At the end of the reporting period monetary assets and liabilities are translated using the exchange rate prevailing at the end of the reporting period. Exchange differences arising from translation are recognized in the income statement and presented under financial items, except for exchange rate differences related to trade receivablesand trade payables that are presented within operating profit. Non-monetary items denominated in foreign currencies are translated using the exchange rate at the date of the transaction, except for those items carried at fair value that are translated using rates prevailing at the date when the fair value was determined.The preparation of financial statements in conformity with IFRS requires the management to make judgments and assumptions that affect the recognition and measurement of financial statement items. These estimates and associated assumptions are based on historical experience and other justified assumptions that are believed to be reasonable under the circumstances at the end of the reporting period. These estimates form the basis for judgments of the items in the financial statements. Development of markets and general economic situation may affect the variables underlying the estimates and actual results may differ significantly from these estimates. Significant accounting policies applied, and critical accounting estimates and judgments are described adjacent to each note.Fiskars Group has applied amendments and interpretations published by IASB that are effective for the first time for financial reporting periods commencing on January 1, 2022. These amendments and interpretations did not have a material impact on the results, financial position of Fiskars Group, or presentation of financial statements.Fiskars Group has not identified any new standards, amendments or interpretations published by IASB thatapply for the first time to financial reporting periods commencing on January 1, 2023, that are expected to have a material impact on the results or financial position of Fiskars Group, or presentation of financial statements.1.6 New and amended standards applied in financial year ended1.7 Adoption of new and amended standards January 1, 2023",
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"value": "Fiskars Oyj Abp(the \u201cCompany\u201d or the \u201cparent company\u201d) is aFinnishpublic limited liability companydomiciled inRaseborgIts registered address isKeilaniementie 10, Espoo, FinlandThe Company\u2019s shares are listed on the Nasdaq Helsinki Ltd. Fiskars Oyj Abp and its subsidiaries together form the Fiskars Group (\u201cFiskars Group\u201d or the \u201cGroup\u201d) thatmanufactures and markets branded consumer goodsglobally. Fiskars Group\u2019s primary reporting segments are Vita, Terra, Crea and Other. The Other segment contains the Group\u2019s investment portfolio, the real estate unit, corporate headquarters and shared services. Fiskars Group reports group-level net sales for three geographical areas: Europe, Americas, and Asia-Pacific. The Group\u2019s international key brands are Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford and Wedgwood.The consolidated financial statements were authorizedfor issue by the Board of Directors of Fiskars Oyj Abp on February 7, 2023. According to the Finnish Limited Liability Companies\u2019 Act, the shareholders have a possibility to approve or reject, or make a decision on altering the financial statements in the Annual General Meeting. The consolidated financial statements include the parent company, Fiskars Oyj Abp, and the subsidiariesin which it holds, directly or indirectly, over 50% of thevoting rights or over which it otherwise has control. Acquired or established subsidiaries are included in the consolidated financial statements from the date control commences until the date that control ceases.Subsidiaries are consolidated using the acquisition method. Inter-company transactions, profit distribution, receivables, payables and unrealized gains between group companies are eliminated in consolidation.The profit or loss for the period attributable to the owners of the parent company and non-controlling interest is presented in the Consolidated Income Statement and the total comprehensive income for the financial year attributable to the owners of the parent company and non-controlling interest is presented in the Statement of Comprehensive Income. The non-controlling interest in equity is presented within equity, separately from the equity of the owners of the parent company.Investments in associates in which Fiskars Group has a significant influence but not control are accounted for using the equity method. Significant influence usually exists when the group holds over 20% of the voting power of the entity or when the group otherwise has significant influence but not control. At the moment, there are no investments in associates with significant influence in the Fiskars Group.Items included in the financial statements of each of the Fiskars Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019).These consolidated financial statements are presented in euros, which is the Group\u2019s presentation currency. In the consolidated financial statements income statements, statements of comprehensive income and cash flows of foreign subsidiaries are translated into the Group\u2019s presentation currency at the average exchange rates for the period. Balance sheet items are translated at exchange rates prevailing at the end of the reporting period. The Translation of financial statements of foreign subsidiariesThe consolidated financial statements were preparedin accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, observing the standards and interpretations effectiveon December 31, 2022. The consolidated financial statements are prepared on historical cost basis except for financial assets andfinancial liabilities which are presented at fair value through profit or loss, and biological assets as well as assets and liabilities related to defined benefit pension plans that are measured at fair value. Financial statements figures are presented mainly in millions of euros with one decimal. Figures presented are subject to rounding, which may cause that the sum of individual figures might differ from the presented aggregated column and row totals.Where necessary, comparative information has beenreclassified to achieve consistency in disclosure withcurrent financial year amounts.resulting exchange differences are recognized in other comprehensive income and presented under cumulative translation differences in equity. The effective portions of the gains or losses on those financial instruments hedging net investments in foreign operations are recognized similarly. When the group disposes of all, or part of that subsidiary, the translation differences accumulated in equity are transferred to profit or loss as part of the gain or loss on disposal.Transactions in foreign currenciesForeign currency transactions are translated using the exchange rates prevailing at the dates of the transactions. At the end of the reporting period monetary assets and liabilities are translated using the exchange rate prevailing at the end of the reporting period. Exchange differences arising from translation are recognized in the income statement and presented under financial items, except for exchange rate differences related to trade receivablesand trade payables that are presented within operating profit. Non-monetary items denominated in foreign currencies are translated using the exchange rate at the date of the transaction, except for those items carried at fair value that are translated using rates prevailing at the date when the fair value was determined.The preparation of financial statements in conformity with IFRS requires the management to make judgments and assumptions that affect the recognition and measurement of financial statement items. These estimates and associated assumptions are based on historical experience and other justified assumptions that are believed to be reasonable under the circumstances at the end of the reporting period. These estimates form the basis for judgments of the items in the financial statements. Development of markets and general economic situation may affect the variables underlying the estimates and actual results may differ significantly from these estimates. Significant accounting policies applied, and critical accounting estimates and judgments are described adjacent to each note.Fiskars Group has applied amendments and interpretations published by IASB that are effective for the first time for financial reporting periods commencing on January 1, 2022. These amendments and interpretations did not have a material impact on the results, financial position of Fiskars Group, or presentation of financial statements.Fiskars Group has not identified any new standards, amendments or interpretations published by IASB thatapply for the first time to financial reporting periods commencing on January 1, 2023, that are expected to have a material impact on the results or financial position of Fiskars Group, or presentation of financial statements.Accounting principlesAn intangible asset is initially recognized in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the group. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.OTHER INTANGIBLE ASSETSOther intangible assets include among other patents, capitalized development costs, software, as well as trademarks and customer relationships acquired in business combinations. Intangible assets are stated at cost less accumulated amortization and any accumulated impairment. Intangible assets in this class are amortized on a straight-line basis over their known or expected useful lives.Fair value of financial instrumentsAccounting principlesFAIR VALUE CATEGORIESHierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed shares. Level 2 includes financial assets and liabilities measured using directly observable market inputs. All interest bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.Accounting principlesFiskars Group\u2019s organizational structure features three Business Areas (BA): Vita, Terra and Crea. Fiskars Group\u00b4s four primary reporting segments are Vita, Terra, Crea and Other. In addition, Fiskars Group reports net sales for three geographical areas: Europe, Americas and Asia-Pacific. The performance of the reporting segments is reviewed regularly by the chief operating decision-maker, Fiskars Group\u2019s Board of Directors, to assess performance and to decide on allocation of resources. The operating segments, BA Vita, Terra and Crea, are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The performance of the segments is reviewed based on segments\u2019 operating profit (EBIT). The accounting principles of the segments are the same as those used in the preparation of the financial statements. Financial income and expenses, and income taxes are managed on Group level and thus, not allocated to operating segments.OPERATING PROFITIn Fiskars Group, the operating profit (EBIT) is the net of revenues and other operating income, material purchases and change of inventories, production for own use, employee benefits, depreciations, amortizations and possible impairments and other operating expenses. The operating profit includes operating results of Fiskars\u2019 primary reporting segments Vita, Terra, Crea and Other. Change in fair value of biological assets is presented as a separate line item below EBIT in the income statement.Accounting principlesThe Group\u2019s tax expense comprises current and deferred taxes. The current tax charge is calculated using the tax rate enacted or substantively enacted at the end of the reporting period. Deferred tax liabilities and deferred tax assets are accounted for temporary differences between the carrying amounts and tax basis of assets and liabilities using tax rates enacted or substantively enacted at the end of the reporting period. A deferred tax liability is recorded to its full amount on taxable temporary differences. Deferred tax assets are recognized for deductible temporary differences, unutilized tax losses and unused tax credits to the extent that it is probable that taxable profit or taxable temporary differences will be available against which the deductible temporary differences, unutilized tax losses and unused tax credits can be utilized. Deferred tax assets are assessed for realizability at the end of each reporting period. If it is no longer probable that sufficient taxable profit will be available to allow deferred tax asset utilization, carrying amount of deferred tax asset is reduced. Correspondingly, if it is probable that sufficient taxable profit will be available, reduction to deferred tax asset value is reversed. The basic earnings per share is the annual profit for the period attributable to equity holders of the parent company divided by the weighted average number of shares outstanding during the year.Accounting principlesProperty, plant, and equipment are stated at historical cost less accumulated depreciation and any accumulated impairment losses, if applicable. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.Depreciation is charged to the income statement on a straight-line basis over the estimated useful lives of the assets. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows: \u2022 Buildings 20\u201340 years\u2022 Machinery and equipment 3\u201310 years\u2022 Land and water No depreciationGains and losses on sales and disposals of property, plant, and equipment are presented in other operating income and other operating expenses.Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.RIGHT-OF-USE ASSETSFiskars Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are initially measured at cost, including the initial measurement of lease liabilities, any initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Subsequently right-of-use asset is measured at cost less any accumulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the lease term, generally as follows:Real estate3\u201315 yearsOther assets3\u20135 yearsSHORT-TERM LEASES AND LEASES OF LOW-VALUE ASSETSThe Group applies the short-term lease recognition exemption to its short-term leases i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term.Accounting principlesBiological assets are measured at their fair value less costs to sell them. Biological assets consist of growing stock of Group\u2019s forest assets in Finland. The change in fair value resulting from both growth and change in the market value of standing timber is presented as a separate line item in the Consolidated Income Statement after operating profit (EBIT). The revenue from the sale of standing timber is presented in the Consolidated Income Statement within the operating profit.There are no existing active markets for forest assets. Therefore, the biological asset valuation is made by using the discounted future cash flows. Cash flows are based on forest management plan taking into account forestry costs and harvesting incomes from one growth cycle. For valuing harvesting incomes, Fiskars applies a three-year rolling average price of standing timber, based on the statistics provided by the Natural Resources Institute Finland, adjusted with company specific price components.The fair value measurements of biological assets are categorized within level 3 of the fair value hierarchy.Accounting principlesThe properties that are not used in the Group\u2019s operations or which are held to earn rental income or increase in value are classified as investment property. These properties are measured at cost less accumulated depreciation and impairment. Investment properties are depreciated over 20\u201340 years on a straight-line basis. Land is not depreciated.Accounting principlesInventories are carried at the lower of cost and net realizable value. Cost is determined using the first-in first-out (FIFO) method. The cost of finished goods and work-in-progress comprise direct purchase and manufacturing costs, other direct costs and a proportion of the related production overheads based on normal operating capacity. Net realizable value is the estimated amount that can be realized from the sale in normal course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Inventories are presented net of write-down recognized for obsolete and slow-moving inventories.Accounting principlesTrade receivables are measured at amortized cost. According to the simplified impairment model under IFRS 9, an allowance amounting to lifetime expected credit losses is recognized at first reporting date. To measure the lifetime expected credit losses, trade receivables have been grouped based on aging categories. An allowance for doubtful receivables is measured based on historical loss rates adjusted by forward looking estimates and individual assessment. The inputs used in the model are updated on a regular basis. Impairment is recognized as an expense in Other operating expenses. If an amount previously recognized to Consolidated Income Statement is subsequently settled, it is recognized as a reduction to Other operating expenses. Accounting principlesGroup companies have various pension plans in accordance with local conditions and practices in the countries in which they operate. The plans are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan the group pays fixed contributions into a separate entity. If the entity does not hold sufficient assets to pay all employees the benefits in question, the Group will have no legal or constructive obligation to pay further contributions. All other plans not meeting the above criteria are classified as defined benefit plans. Most of the plans that group companies have are classified as defined contribution plans and related contributions are charged to the income statement in the year in which the payment obligation has arisen.The costs for defined benefit pension plans are calculated and recognized under the terms of the plan based on actuarial calculations. Pension costs are recognized as expenses over the employees\u2019 service period. The pension obligation is measured as the present value of the estimated future contributions deducted by the fair value of plan assets at the end of the reporting period. Changes in the estimates in the actuarial calculations may influence the reported pension obligations and pension costs. Actuarial gains and losses are recognized in other comprehensive income (OCI).Accounting principlesA provision is recognized when the Group as a result of a past event has a present legal or constructive obligation, it is probable that the obligation will be realized and a reliable estimate can be made of the amount of the obligation. A provision for restructuring is recognized when a detailed formal plan has been prepared and when there is a valid expectation relating those affected that the plan will be carried out. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. If it is possible to receive compensation for a part of the obligation from a third party, the compensation is recognized as a separate asset, but only when receipt of the compensation is virtually certain.Fiskars Group may be a party to lawsuits and legal processes concerning the Group\u2019s business operations. A related provision is recognized in the financial statements when the amount of the expenditure can be estimated reliably and it is more likely than not that they will be realized. Otherwise these contingent liabilities are disclosed in the notes.FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.Accounting principlesFINANCIAL LIABILITIES AND BORROWING COSTSFiskars Group classifies its financial liabilities in the following categories: financial liabilities at fair value through profit or loss (includes derivative liabilities) and financial liabilities measured at amortized cost. A financial liability is initially recognized at fair value, and subsequently carried at amortized cost. Derivative liabilities are measured at fair value. Financial liabilities are classified as non-current or current; the latter group comprises all those financial liabilities for which the Group does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. The Group removes a financial liability (or a part of it) from its balance sheet only when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expires.Arrangement fees related to loans and loan commitments are amortized over the expected loan term.Interest-bearing debts are valued at amortized cost. The fair values of interest-bearing debts have been calculated by discounting the cash flow of the debt by the market rate at the end of reporting period (fair value hierarchy level 2).Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.LEASE LIABILITIESAt the commencement date of the lease, Fiskars Group recognizes lease liabilities measured at the present value of future unpaid lease payments. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group, and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date as typically the interest rate implicit in the lease is not readily available. Subsequently lease liability is measured using the effective interest rate method, and the carrying amount of lease liability is increased with the interest on the lease liability, reduced with the amount of lease payments made, and adjusted to reflect any reassessments or lease modifications made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.Other financial informationItems affecting comparabilityExceptional and material transactions outside the ordinary course of business are treated as items affecting comparability. These include items such as gains and losses on disposal of business operations, impairments, costs of discontinued significant business operations, restructuring costs and costs of integrating acquired businesses, major product recalls, and fines and penalties. Gains and losses are presented in the Consolidated Income Statement as an income or expense on the relevant line item and function. Impairments have been presented in the Income Statement in depreciation, amortization and impairment of the relevant function or in Goodwill and trademark impairment when the impairment concerns goodwill or trademarks. Write-downs are presented in other operating expenses.",
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"value": "1.2 Basis of preparationThe consolidated financial statements were preparedin accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, observing the standards and interpretations effectiveon December 31, 2022. The consolidated financial statements are prepared on historical cost basis except for financial assets andfinancial liabilities which are presented at fair value through profit or loss, and biological assets as well as assets and liabilities related to defined benefit pension plans that are measured at fair value. Financial statements figures are presented mainly in millions of euros with one decimal. Figures presented are subject to rounding, which may cause that the sum of individual figures might differ from the presented aggregated column and row totals.Where necessary, comparative information has beenreclassified to achieve consistency in disclosure withcurrent financial year amounts.",
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"value": "The consolidated financial statements were preparedin accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, observing the standards and interpretations effectiveon December 31, 2022. The consolidated financial statements are prepared on historical cost basis except for financial assets andfinancial liabilities which are presented at fair value through profit or loss, and biological assets as well as assets and liabilities related to defined benefit pension plans that are measured at fair value. Financial statements figures are presented mainly in millions of euros with one decimal. Figures presented are subject to rounding, which may cause that the sum of individual figures might differ from the presented aggregated column and row totals.Where necessary, comparative information has beenreclassified to achieve consistency in disclosure withcurrent financial year amounts.",
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},
"pp-value-32-3": {
"value": "The consolidated financial statements include the parent company, Fiskars Oyj Abp, and the subsidiariesin which it holds, directly or indirectly, over 50% of thevoting rights or over which it otherwise has control. Acquired or established subsidiaries are included in the consolidated financial statements from the date control commences until the date that control ceases.Subsidiaries are consolidated using the acquisition method. Inter-company transactions, profit distribution, receivables, payables and unrealized gains between group companies are eliminated in consolidation.The profit or loss for the period attributable to the owners of the parent company and non-controlling interest is presented in the Consolidated Income Statement and the total comprehensive income for the financial year attributable to the owners of the parent company and non-controlling interest is presented in the Statement of Comprehensive Income. The non-controlling interest in equity is presented within equity, separately from the equity of the owners of the parent company.Investments in associates in which Fiskars Group has a significant influence but not control are accounted for using the equity method. Significant influence usually exists when the group holds over 20% of the voting power of the entity or when the group otherwise has significant influence but not control. At the moment, there are no investments in associates with significant influence in the Fiskars Group.1.3 Consolidation principles",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-4": {
"value": "The consolidated financial statements include the parent company, Fiskars Oyj Abp, and the subsidiariesin which it holds, directly or indirectly, over 50% of thevoting rights or over which it otherwise has control. Acquired or established subsidiaries are included in the consolidated financial statements from the date control commences until the date that control ceases.Subsidiaries are consolidated using the acquisition method. Inter-company transactions, profit distribution, receivables, payables and unrealized gains between group companies are eliminated in consolidation.The profit or loss for the period attributable to the owners of the parent company and non-controlling interest is presented in the Consolidated Income Statement and the total comprehensive income for the financial year attributable to the owners of the parent company and non-controlling interest is presented in the Statement of Comprehensive Income. The non-controlling interest in equity is presented within equity, separately from the equity of the owners of the parent company.Investments in associates in which Fiskars Group has a significant influence but not control are accounted for using the equity method. Significant influence usually exists when the group holds over 20% of the voting power of the entity or when the group otherwise has significant influence but not control. At the moment, there are no investments in associates with significant influence in the Fiskars Group.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-32-5": {
"value": "The consolidated financial statements include the parent company, Fiskars Oyj Abp, and the subsidiariesin which it holds, directly or indirectly, over 50% of thevoting rights or over which it otherwise has control. Acquired or established subsidiaries are included in the consolidated financial statements from the date control commences until the date that control ceases.Subsidiaries are consolidated using the acquisition method. Inter-company transactions, profit distribution, receivables, payables and unrealized gains between group companies are eliminated in consolidation.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-63-3": {
"value": "Items included in the financial statements of each of the Fiskars Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019).These consolidated financial statements are presented in euros, which is the Group\u2019s presentation currency. In the consolidated financial statements income statements, statements of comprehensive income and cash flows of foreign subsidiaries are translated into the Group\u2019s presentation currency at the average exchange rates for the period. Balance sheet items are translated at exchange rates prevailing at the end of the reporting period. The Translation of financial statements of foreign subsidiariesresulting exchange differences are recognized in other comprehensive income and presented under cumulative translation differences in equity. The effective portions of the gains or losses on those financial instruments hedging net investments in foreign operations are recognized similarly. When the group disposes of all, or part of that subsidiary, the translation differences accumulated in equity are transferred to profit or loss as part of the gain or loss on disposal.Transactions in foreign currenciesForeign currency transactions are translated using the exchange rates prevailing at the dates of the transactions. At the end of the reporting period monetary assets and liabilities are translated using the exchange rate prevailing at the end of the reporting period. Exchange differences arising from translation are recognized in the income statement and presented under financial items, except for exchange rate differences related to trade receivablesand trade payables that are presented within operating profit. Non-monetary items denominated in foreign currencies are translated using the exchange rate at the date of the transaction, except for those items carried at fair value that are translated using rates prevailing at the date when the fair value was determined.1.4 Translation of foreign currency items",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-63-4": {
"value": "Items included in the financial statements of each of the Fiskars Group\u2019s entities are measured using the currency of the primary economic environment in which the entity operates (\u2018the functional currency\u2019).Translation of financial statements of foreign subsidiaries",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-109-1": {
"value": "1.5 Use of estimatesThe preparation of financial statements in conformity with IFRS requires the management to make judgments and assumptions that affect the recognition and measurement of financial statement items. These estimates and associated assumptions are based on historical experience and other justified assumptions that are believed to be reasonable under the circumstances at the end of the reporting period. These estimates form the basis for judgments of the items in the financial statements. Development of markets and general economic situation may affect the variables underlying the estimates and actual results may differ significantly from these estimates. Significant accounting policies applied, and critical accounting estimates and judgments are described adjacent to each note.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-110-4": {
"value": "The preparation of financial statements in conformity with IFRS requires the management to make judgments and assumptions that affect the recognition and measurement of financial statement items. These estimates and associated assumptions are based on historical experience and other justified assumptions that are believed to be reasonable under the circumstances at the end of the reporting period. These estimates form the basis for judgments of the items in the financial statements. Development of markets and general economic situation may affect the variables underlying the estimates and actual results may differ significantly from these estimates. Significant accounting policies applied, and critical accounting estimates and judgments are described adjacent to each note.",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-142-1": {
"value": "2.1 Segment informationNET SALES AND REVENUE RECOGNITIONIn the Consolidated Income Statement, Net sales comprise the sales of goods and services, adjusted with indirect taxes, discounts, rebates, fees and penalties as well as the exchange rate differences of sales denominated in foreign currency. The share of services of total net sales is not significant. Revenue from the sale of goods is recognized when performance obligation is satisfied. Performance obligation is satisfied when control is transferred to a customer, typically at the time when a product has been delivered to a customer in accordance with the terms of delivery.Operating segmentsBA Vita offers premium and luxury products for the tableware, drinkware and interior categories. It consists of brands such as Iittala, Royal Copenhagen, Waterford and Wedgwood.BA Terra consists of the gardening, watering, and outdoor categories. The brands include Fiskars and Gerber.BA Crea consists of the scissors and creating as well as the cooking categories, mainly with the Fiskars brand.The Other segment contains the Group\u2019s investment portfolio, the real estate unit, corporate headquarters and shared services. Business activities between the segments are not significant. Inter-segment sales are made on arm\u2019s lenght basis.Unallocated itemsThe unallocated items contain group level income and expenses, such as goodwill and trademark amortization and impairment, and financial income and expenses. Unallocated assets comprise items related to group administration, tax and loan receivables, and shares. Unallocated liabilities comprise non-current and current debt and tax liabilities. Also part of the restructuring costs are unallocated.No single customer of Fiskars Group accounts for more than 10% share of the Group\u2019s total net sales.Operating segments2022Unallocated and EUR million Vita Terra Crea OtherEliminations Group totalNet sales 563.7 507.4 173.4 3.9 1,248.4EBIT excl. Items affecting comparability in operating profit 85.6 48.4 34.3 -17.2 151.01Items affecting comparability in EBIT-0.1 -14.2 -0.1 -1.9 -16.3EBIT 85.5 34.1 34.2 -19.1 134.7Amortization -13.8 -13.8ImpairmentChange in fair value of biological assets 1.1 1.1Financial income and expenses -11.7 -11.7Profit before taxes 124.1Income taxes -25.0 -25.0Profit for the period 99.1Capital expenditure 20.9 17.5 4.0 5.9 48.1Depreciations, amortizations and impairment 33.6 19.0 4.1 2.7 59.41 Includes EUR 11.9 million of disposal of a subsidiary in Russia, EUR 3.3 million of divestment of the North American Watering business and EUR 1.1 million changes in Leadership team.Operating segments2021Unallocated and EUR million Vita Terra Crea OtherEliminations Group totalNet sales 544.6 535.4 170.6 3.8 1,254.3EBIT excl. Items affecting comparability in operating profit 79.2 51.6 36.5 -13.1 154.21Items affecting comparability in EBIT-9.8 -0.7 -0.2 -0.7 -11.5EBIT 69.4 50.9 36.3 -13.8 142.8Amortization -14.6 -14.6ImpairmentChange in fair value of biological assets 1.3 1.3Financial income and expensesProfit before taxes 144.1Income taxes -56.5 -56.5Profit for the period 87.5Capital expenditure 16.0 12.2 3.3 2.8 34.4Depreciations, amortizations and impairment 34.3 20.4 4.4 2.6 61.61 Includes EUR 7.6 million related to the Restructuring program and EUR 3.9 million related to the Transformation program. Net sales by geographyNon-current assets by location (excl. deferred tax assets) EUR million 2022 2021Assets in Finland 278.0 300.8Assets in the U.S. 64.3 54.0Assets in other countries 476.4 47 7.8Total 818.8 832.6Accounting principlesFiskars Group reports net sales for three geographical areas: Europe, Americas, and Asia-Pacific. In the Americas the Fiskars branded products\u2019 distribution, logistics and consumer preferences are managed centrally for the business units. In Europe and Asia-Pacific, the markets and distribution are more diversified, however, from the customer point of view the business units operate in a common environment. Net sales by geographyEUR million 2022 2021Europe 596.0 592.2Americas 432.0 475.9Asia-Pacific 209.4 187.71Unallocated11.1 -1.4Total 1,248.4 1,254.31 Geographically unallocated exchange rate differencesNet sales by destinationEUR million 2022 2021Net sales in Finland 111.9 112.3Net sales in the U.S. 414.7 455.7Net sales in other countries 721.9 686.4Total 1,248.4 1,254.3Accounting principlesFiskars Group\u2019s organizational structure features three Business Areas (BA): Vita, Terra and Crea. Fiskars Group\u00b4s four primary reporting segments are Vita, Terra, Crea and Other. In addition, Fiskars Group reports net sales for three geographical areas: Europe, Americas and Asia-Pacific. The performance of the reporting segments is reviewed regularly by the chief operating decision-maker, Fiskars Group\u2019s Board of Directors, to assess performance and to decide on allocation of resources. The operating segments, BA Vita, Terra and Crea, are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The performance of the segments is reviewed based on segments\u2019 operating profit (EBIT). The accounting principles of the segments are the same as those used in the preparation of the financial statements. Financial income and expenses, and income taxes are managed on Group level and thus, not allocated to operating segments.OPERATING PROFITIn Fiskars Group, the operating profit (EBIT) is the net of revenues and other operating income, material purchases and change of inventories, production for own use, employee benefits, depreciations, amortizations and possible impairments and other operating expenses. The operating profit includes operating results of Fiskars\u2019 primary reporting segments Vita, Terra, Crea and Other. Change in fair value of biological assets is presented as a separate line item below EBIT in the income statement.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-172-2": {
"value": "NET SALES AND REVENUE RECOGNITIONIn the Consolidated Income Statement, Net sales comprise the sales of goods and services, adjusted with indirect taxes, discounts, rebates, fees and penalties as well as the exchange rate differences of sales denominated in foreign currency. The share of services of total net sales is not significant. Revenue from the sale of goods is recognized when performance obligation is satisfied. Performance obligation is satisfied when control is transferred to a customer, typically at the time when a product has been delivered to a customer in accordance with the terms of delivery.Net sales by geographyAccounting principlesFiskars Group reports net sales for three geographical areas: Europe, Americas, and Asia-Pacific. In the Americas the Fiskars branded products\u2019 distribution, logistics and consumer preferences are managed centrally for the business units. In Europe and Asia-Pacific, the markets and distribution are more diversified, however, from the customer point of view the business units operate in a common environment. Net sales by geographyEUR million 2022 2021Europe 596.0 592.2Americas 432.0 475.9Asia-Pacific 209.4 187.71Unallocated11.1 -1.4Total 1,248.4 1,254.31 Geographically unallocated exchange rate differencesNet sales by destinationEUR million 2022 2021Net sales in Finland 111.9 112.3Net sales in the U.S. 414.7 455.7Net sales in other countries 721.9 686.4Total 1,248.4 1,254.3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-172-3": {
"value": "NET SALES AND REVENUE RECOGNITIONIn the Consolidated Income Statement, Net sales comprise the sales of goods and services, adjusted with indirect taxes, discounts, rebates, fees and penalties as well as the exchange rate differences of sales denominated in foreign currency. The share of services of total net sales is not significant. Revenue from the sale of goods is recognized when performance obligation is satisfied. Performance obligation is satisfied when control is transferred to a customer, typically at the time when a product has been delivered to a customer in accordance with the terms of delivery.Accounting principlesFiskars Group reports net sales for three geographical areas: Europe, Americas, and Asia-Pacific. In the Americas the Fiskars branded products\u2019 distribution, logistics and consumer preferences are managed centrally for the business units. In Europe and Asia-Pacific, the markets and distribution are more diversified, however, from the customer point of view the business units operate in a common environment. Accounting principlesFiskars Group\u2019s organizational structure features three Business Areas (BA): Vita, Terra and Crea. Fiskars Group\u00b4s four primary reporting segments are Vita, Terra, Crea and Other. In addition, Fiskars Group reports net sales for three geographical areas: Europe, Americas and Asia-Pacific. The performance of the reporting segments is reviewed regularly by the chief operating decision-maker, Fiskars Group\u2019s Board of Directors, to assess performance and to decide on allocation of resources. The operating segments, BA Vita, Terra and Crea, are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The performance of the segments is reviewed based on segments\u2019 operating profit (EBIT). The accounting principles of the segments are the same as those used in the preparation of the financial statements. Financial income and expenses, and income taxes are managed on Group level and thus, not allocated to operating segments.OPERATING PROFITIn Fiskars Group, the operating profit (EBIT) is the net of revenues and other operating income, material purchases and change of inventories, production for own use, employee benefits, depreciations, amortizations and possible impairments and other operating expenses. The operating profit includes operating results of Fiskars\u2019 primary reporting segments Vita, Terra, Crea and Other. Change in fair value of biological assets is presented as a separate line item below EBIT in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-172-4": {
"value": "NET SALES AND REVENUE RECOGNITIONIn the Consolidated Income Statement, Net sales comprise the sales of goods and services, adjusted with indirect taxes, discounts, rebates, fees and penalties as well as the exchange rate differences of sales denominated in foreign currency. The share of services of total net sales is not significant. Revenue from the sale of goods is recognized when performance obligation is satisfied. Performance obligation is satisfied when control is transferred to a customer, typically at the time when a product has been delivered to a customer in accordance with the terms of delivery.Accounting principlesFiskars Group reports net sales for three geographical areas: Europe, Americas, and Asia-Pacific. In the Americas the Fiskars branded products\u2019 distribution, logistics and consumer preferences are managed centrally for the business units. In Europe and Asia-Pacific, the markets and distribution are more diversified, however, from the customer point of view the business units operate in a common environment. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-218-1": {
"value": "2.2 Other operating incomeAccounting principlesOther operating income includes income other than that associated with the sale of goods or services, such as gain on disposal or sale of fixed assets, rental income and other similar income not classified to revenue.EUR million 2022 2021Gain on disposal of fixed assets 5.8 1.3Compensations from insurance -1.7 0.0companyRental income 0.3 0.3Other income 1.2 2.5Total 5.6 4.1",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-218-2": {
"value": "2.2 Other operating incomeAccounting principlesOther operating income includes income other than that associated with the sale of goods or services, such as gain on disposal or sale of fixed assets, rental income and other similar income not classified to revenue.EUR million 2022 2021Gain on disposal of fixed assets 5.8 1.3Compensations from insurance -1.7 0.0companyRental income 0.3 0.3Other income 1.2 2.5Total 5.6 4.1Other operating expenses Accounting principlesOther operating expenses include losses on the disposal or sale of fixed assets, integration costs and other similar expenses not classified to other cost items. EUR million 2022 2021Loss on sale of fixed assets 0.4 0.0Loss on scrap of fixed assets 0.8 0.5Other operating costs 7.8 0.6Total 8.9 1.1",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-225-1": {
"value": "2.3 Total expensesTotal expenses by natureEUR million 2022 2021Materials and supplies 654.2 548.9Change in inventory -55.4 -89.1External services 73.7 74.2Employee benefits 289.0 293.7Depreciation and amortization 59.4 61.6Impairments 0.0 0.0Other expenses 98.7 226.3Total 1,119.7 1,115.6Other expenses include lease payments on short-term leases and leases of low-value assets that are recognized as an expense on a straight-line basis over the lease term. In 2022, expenses related to short-term leases amounted to EUR 0.1 million (2021: 0.2) and leases of low-value assets EUR 0.1 million (2021: 0.2). Accounting principles related to right-of-use assets, lease liabilities and amounts recognised in income statement relating to these are described in Notes 3.3 Right-of-use assets and 5.5 Lease liabilities.Other operating expenses Accounting principlesOther operating expenses include losses on the disposal or sale of fixed assets, integration costs and other similar expenses not classified to other cost items. EUR million 2022 2021Loss on sale of fixed assets 0.4 0.0Loss on scrap of fixed assets 0.8 0.5Other operating costs 7.8 0.6Total 8.9 1.1Depreciation, amortization and impairment by asset classEUR million 2022 2021Buildings, tangible assets 4.5 5.2Machinery and equipment, tangible 15.8 16.9assetsReal estate, right-of-use assets 22.2 23.0Other leases, right-of use assets 2.7 2.1Intangible assets 13.8 14.0Investment property 0.4 0.4Goodwill and trademark impairment 0.0 0.0Total 59.4 61.6Fees paid to Group auditorsEUR million 2022 2021Audit fees 1.5 1.3Tax consultation 0.1 0.1Other non-audit fees 0.1 0.0Total 1.6 1.4Annual General Meeting has selected Ernst & Young Oy as the Group auditor for the financial year 2022 and 2021. Ernst & Young Oy has provided non-audit services to the entities of Fiskars Group in total of EUR 0.1 million (2021: 0.1) during the financial year 2022.2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-226-2": {
"value": "Total expenses by natureEUR million 2022 2021Materials and supplies 654.2 548.9Change in inventory -55.4 -89.1External services 73.7 74.2Employee benefits 289.0 293.7Depreciation and amortization 59.4 61.6Impairments 0.0 0.0Other expenses 98.7 226.3Total 1,119.7 1,115.6Other expenses include lease payments on short-term leases and leases of low-value assets that are recognized as an expense on a straight-line basis over the lease term. In 2022, expenses related to short-term leases amounted to EUR 0.1 million (2021: 0.2) and leases of low-value assets EUR 0.1 million (2021: 0.2). Accounting principles related to right-of-use assets, lease liabilities and amounts recognised in income statement relating to these are described in Notes 3.3 Right-of-use assets and 5.5 Lease liabilities.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-227-3": {
"value": "Other operating expenses Accounting principlesOther operating expenses include losses on the disposal or sale of fixed assets, integration costs and other similar expenses not classified to other cost items. EUR million 2022 2021Loss on sale of fixed assets 0.4 0.0Loss on scrap of fixed assets 0.8 0.5Other operating costs 7.8 0.6Total 8.9 1.1",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-229-2": {
"value": "Fees paid to Group auditorsEUR million 2022 2021Audit fees 1.5 1.3Tax consultation 0.1 0.1Other non-audit fees 0.1 0.0Total 1.6 1.4Annual General Meeting has selected Ernst & Young Oy as the Group auditor for the financial year 2022 and 2021. Ernst & Young Oy has provided non-audit services to the entities of Fiskars Group in total of EUR 0.1 million (2021: 0.1) during the financial year 2022.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-228-2": {
"value": "Depreciation, amortization and impairment by asset classEUR million 2022 2021Buildings, tangible assets 4.5 5.2Machinery and equipment, tangible 15.8 16.9assetsReal estate, right-of-use assets 22.2 23.0Other leases, right-of use assets 2.7 2.1Intangible assets 13.8 14.0Investment property 0.4 0.4Goodwill and trademark impairment 0.0 0.0Total 59.4 61.6Residual values and expected useful lives are reassessed at least at the end of reporting period, and if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows:Software3\u201310 yearsCustomer relationships5\u201315 yearsOther3\u201310 yearsIntangible assets with an indefinite useful life such as trademarks or brand names acquired in business combinations are not amortized but they are tested at least annually for impairment.Depreciation is charged to the income statement on a straight-line basis over the estimated useful lives of the assets. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows: \u2022 Buildings 20\u201340 years\u2022 Machinery and equipment 3\u201310 years\u2022 Land and water No depreciationGains and losses on sales and disposals of property, plant, and equipment are presented in other operating income and other operating expenses.RIGHT-OF-USE ASSETSFiskars Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are initially measured at cost, including the initial measurement of lease liabilities, any initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Subsequently right-of-use asset is measured at cost less any accumulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the lease term, generally as follows:Real estate3\u201315 yearsOther assets3\u20135 yearsAccounting principlesThe properties that are not used in the Group\u2019s operations or which are held to earn rental income or increase in value are classified as investment property. These properties are measured at cost less accumulated depreciation and impairment. Investment properties are depreciated over 20\u201340 years on a straight-line basis. Land is not depreciated.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-230-1": {
"value": "Employee benefitsEUR million 2022 2021Wages and salaries 238.0 240.0Other compulsory personnel costs 27.9 29.5Pension costs, defined contribution 18.7 18.0plansPension costs, defined benefit plans 0.9 0.9Other post-employment benefits 0.4 0.7Termination benefits 1.7 1.6Share-based payments 1.3 2.9Total 289.0 293.7Personnel at the end of period2022 2021Finland 1,172 1,111Slovenia 825 792Poland 426 390UK 302 306Other Europe 752 846Indonesia 895 867Thailand 780 727U.S. 637 786Other 806 865Total 6,595 6,690Personnel (FTE) in average2022 2021Direct 2,653 2,369Indirect 3,620 3,712Total 6,273 6,081Fiskars Group has adopted the following definitions for employee reporting:Personnel, end of period = active employees in payroll at the end of periodPersonnel (FTE), average = full-time equivalent number of employees according to worked volume during the periodDirect = production staff Indirect = other employees than production staff 2.4. Employee benefits and number of personnel",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-230-2": {
"value": "Employee benefitsEUR million 2022 2021Wages and salaries 238.0 240.0Other compulsory personnel costs 27.9 29.5Pension costs, defined contribution 18.7 18.0plansPension costs, defined benefit plans 0.9 0.9Other post-employment benefits 0.4 0.7Termination benefits 1.7 1.6Share-based payments 1.3 2.9Total 289.0 293.7Most of Fiskars Group\u2019s pension plans are defined contribution plans. Vita business area has defined benefit plans in Indonesia, Japan and Slovenia. The defined benefit plans in the U.S., UK and Germany are closed plans, and future pay increases will not impact the valuation. The Group also has supplementary pension plans in Finland which are classified as defined benefit plans. Each plan is operated in accordance with local conditions and practices of the respective country. Authorized actuaries have performed the actuarial calculations for the defined benefit plans.The main unfunded plans are in the U.S., Germany, Indonesia, Japan and Slovenia. Plan in Finland is taken care of by local pension insurance company. The Group estimates its contributions to the plans during 2023 to be EUR 1.2 (2022: 1.0) million.4.4 Employee defined benefit obligationsCharacteristics of the defined benefit plans and risks associated with themNet liabilityEUR million 2022 2021 Description and risksFinland 0.0 0.1 There are 22 eligible members in the Finnish pension plans. The plans are either funded insured pension plans, which are closed, or unfunded pension promises. Benefits of the plans are old age pension, disability pension, family pension and funeral grant. Pension increases are based on either insurance companies\u2019 own indexes or TyEL index. Main risks are changes in bond yields, increase in life expectancy and inflation risk.Germany 0.8 1.0 There are 68 eligible members in the German pension plans. The plans are either unfunded individual pension promises, or unfunded pension plans, which are closed. Benefits of the plans are old age pension, disability pension and widow\u2019s/widower\u2019s pension. Pension increases, if any, are based on inflation. Main risks are changes in bond yields, increase in life expectancy and inflation risk.Thailand 1.0 1.0 There are 766 eligible members in the Thai pension plan, which is a retirement benefit plan. Benefit of the plan is severance pay. There are no pension increases. Main risks are changes in bond yields and inflation risk.UK There are 173 eligible members in the British pension plan, which is a closed pension fund. The plan has surplus (asset) of GBP 1.7 million at end of 2022 (2021: 2.3), which is not recognized as an assets due to asset ceiling. Benefits of the plan are old age pension, early retirement pension, widow\u2019s/widower\u2019s pension and death benefit. Pension increases are based on inflation. Main risks are volatility of equity instruments, changes in bond yields, increase in life expectancy and inflation risk.UK legislation requires the board to carry out actuarial valuations at least every three years and to target full funding against a basis that prudently reflects the fund\u2019s risk exposure, including the strength of the covenant offered to the fund by Fiskars UK Limited. The most recent actuarial valuation was carried out as at March 31, 2017. From July 31, 2017 the Company has agreed with the Trustee of the scheme a revised schedule of contributions for the scheme to reduce the annual contributions payable to GBP nil per annum. On December 5, 2017 the Company completed a buy-in of GBP 14.5 million of UK Scheme liabilities underwritten by the purchase of the annuity contract. The buy-in policy provides cash flows to match the benefits of the members covered, and is valued at higher than the present value of the defined benefit obligation for those members.The Fund administration costs at the end of 2017 has been recognized as an expense in the company\u2019s income statement, and under rules of IAS 19 applicable to the scheme, has been offset with recognition of other comprehensive income to generate nil impact on company reserves for in the period.U.S. 4.1 5.0 There is one eligible member in the American pension plan, which is an unfunded pension obligation. Benefits of the plan are old age pension and widow\u2019s/widower\u2019s pension. There are no pension increases. Main risks are changes in bond yields and increase in life expectancy.Indonesia 2.9 3.5 There are 798 eligible members in the Indonesian pension plan, which is an unfunded retirement benefit plan. Benefits of the plan are severance pay, death benefit and disability benefit. There are no pension increases. Main risks are changes in bond yields and inflation risk.Japan 0.6 0.7 There are 67 eligible members in the Japanese pension plan, which is a funded and insured pension and retirement allowance plan. Benefits of the plan are old-age pension, death benefit and retirement allowance. There are no pension increases. Main risks are changes in bond yields, increase in life expectancy and inflation risk.Slovenia 1.4 1.5 There are 888 eligible members in the Slovenian pension plans, which are unfunded retirement benefit plans. Benefit of the plan is severance pay. There are no pension increases. Main risks are changes in bond yields and inflation risk.Total net liability 10.8 12.8Changes in net defined benefit liabilityAdditional liablity Present value of Fair value of plan EUR millionTotaland effect of asset TotalobligationassetsceilingJan 1, 2022 30.7 -20.6 10.0 2.7 12.8Current service cost 0.7 0.7 0.7Interest expense (+) or income (-) 0.7 -0.3 0.3 0.0 0.4Administration expenses 0.5 0.5 0.5Past service cost and gains and losses from settlements -0.7 -0.7 -0.7Total included in personnel expenses (Note 2.4) 0.7 0.2 0.9 0.0 0.9Return on plan assets, excluding amounts included in interest, (gain -) 4.6 4.6 4.6and (loss +)Actuarial gains (-) and losses (+) arising from changes in demographic -0.4 -0.4 -0.4assumptionsActuarial gains (-) and losses (+) arising from changes in financial -6.7 -6.7 -6.7assumptionsExperience adjustment gains (-) and losses (+) 1.2 1.2 1.2Changes in asset ceiling, excluding amounts included in interest -0.7 -0.7Remeasurement gains (-) and losses (+) included in OCI -5.9 4.6 -1.3 -0.7 -2.1Translation differences -0.6 1.0 0.3 -0.1 0.2Employer contributions -1.0 -1.0 -1.0Benefits paid -2.1 2.1Other changesDec 31, 2022 22.8 -13.8 8.9 1.9 10.8Changes in net defined benefit liabilityAdditional liablity Present value of Fair value of plan EUR millionTotaland effect of asset TotalobligationassetsceilingJan 1, 2021 31.1 -21.0 10.1 3.0 13.1Current service cost 0.8 0.8 0.8Interest expense (+) or income (-) 0.7 -0.3 0.4 0.0 0.4Administration expenses 0.5 0.5 0.5Past service cost and gains and losses from settlements -0.8 -0.8 -0.8Total included in personnel expenses (Note 2.4) 0.7 0.2 0.9 0.0 0.9Return on plan assets, excluding amounts included in interest, (gain -) 0.5 0.5 0.5and (loss +)Actuarial gains (-) and losses (+) arising from changes in demographic -0.6 -0.6 -0.6assumptionsActuarial gains (-) and losses (+) arising from changes in financial 0.3 0.3 0.3assumptionsExperience adjustment gains (-) and losses (+) -0.3 -0.3 -0.3Changes in asset ceiling, excluding amounts included in interest -0.5 -0.5Changes in asset ceiling, excluding amounts included in interest -0.6 0.5 -0.1 -0.5 -0.6Translation differences 1.6 -1.1 0.4 0.2 0.6Employer contributions -1.2 -1.2 -1.2Benefits paid -2.0 2.0Other changesDec 31, 2021 30.7 -20.6 10.0 2.7 12.8Plan assets by asset category2022 2021EUR million Quoted Unquoted Quoted UnquotedEquity instrumentsBonds 0.5 0.7PropertyInsurance contracts 11.8 17.5Cash and cash equivalents 1.6 2.4Total 2.0 11.8 3.1 17.5Principal actuarial assumptions at the balance sheet date% 2022 2021Discount rateUK 4.90 1.80U.S. 5.20 2.20Indonesia 7.56 6.70Slovenia 3.57 0.90Other countries 0.60\u20133.70 0.30\u20132.15Future salary increasesUK n/a n/aU.S. n/a n/aIndonesia 5.00 5.00Slovenia 3.90 3.35Other countries n/a / 1.50\u20134.00 n/a / 0.00\u20134.00Future pension increasesUK 3.05 3.25U.S. 0.00 0.00Indonesia 5.00 5.00Slovenia 0.00 0.00Other countries n/a / 2.65\u20132.90 n/a / 0.00\u20132.352022 2021Sensitivity analysisDefined benefit obligation Defined benefit obligationThe sensitivity analyses below have been determined EUR million Increase Decrease Increase Decreasebased on reasonably changes of the respective assumptions occurring at the end of the reporting UKperiod and may not be representative of the actual Discount rate (0.5% change) -0.5 0.6 -1.0 1.2change. It is based on a change in the key assumption Future salary (0.5% change) n/a n/a n/a n/awhile holding all other assumptions constant. A linear Future pension (0.5% change) 0.2 -0.1 0.1 -0.1extrapolation of these amounts based on alternative changes in the assumptions as well as an addition Other Group companies, totalof combined changes in the individual assumptions Discount rate (0.5% change) -0.5 0.5 -0.7 0.7is not possible. There are no changes in the way the Future salary (0.5% change) 0.3 -0.3 0.4 -0.4sensitivity analyses were performed compared to the Future pension (0.5% change) 0.0 -0.0 0.0 -0.0previous years.The weighted average of the duration of the defined benefit obligation: 9.7 (2021: 12.2)Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.Accounting principlesGroup companies have various pension plans in accordance with local conditions and practices in the countries in which they operate. The plans are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan the group pays fixed contributions into a separate entity. If the entity does not hold sufficient assets to pay all employees the benefits in question, the Group will have no legal or constructive obligation to pay further contributions. All other plans not meeting the above criteria are classified as defined benefit plans. Most of the plans that group companies have are classified as defined contribution plans and related contributions are charged to the income statement in the year in which the payment obligation has arisen.The costs for defined benefit pension plans are calculated and recognized under the terms of the plan based on actuarial calculations. Pension costs are recognized as expenses over the employees\u2019 service period. The pension obligation is measured as the present value of the estimated future contributions deducted by the fair value of plan assets at the end of the reporting period. Changes in the estimates in the actuarial calculations may influence the reported pension obligations and pension costs. Actuarial gains and losses are recognized in other comprehensive income (OCI).",
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"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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},
"pp-value-234-1": {
"value": "2.5 Share based paymentsLong-term incentive plans, settled during which the Company may grant fixed share in shares and/or cashrewards to individually selected key employees. The Long-term incentive plan 2018\u20132022, In December 2020, the Board of Directors approved company may choose to use a shorter retention period settled in sharesthe establishment of two new share-based Long-term on a case by case basis within this overall three-year In February 2018, the Board of Directors approved Incentive Plans. The plan includes a Performance period. The granted share rewards will be paid after the establishment of a Performance Share Plan Share Plan and a Restricted Share Plan.the retention period. The first two commenced plans for years 2018\u20132022. The Board of Directors has are for years 2021\u20132023 and 2022\u20132024.decided separately for each performance period The Performance Share Plan consists of annually the participants and the minimum, target and commencing individual performance share plans, each If the targets are reached, the rewards for both maximum rewards for each participant, as well as with a three-year performance period, followed by the plans will be paid in the company\u2019s shares, after the performance criteria and related targets. Targets payment of the potential share reward. The Board of the deduction of the proportion that is required for for the last performance period are based on total Directors will decide separately the commencement covering taxes and tax-related costs due on the basis shareholder return, net sales growth and cumulative of each individual plan and their participants, the of the reward. However, the company may decide EBITA and net working capital, with EBITA cutter to minimum, target and maximum rewards for each to pay the reward fully in cash. As a starting point, the net sales growth criterion.participant, as well as the performance criteria and shares to be awarded to key employees based on related targets. The amount of the reward paid Performance Share Plan or Restricted Share Plan will If the targets are reached, the rewards will be paid depends on the achievement of the set targets. No be paid as existing shares of the company and thus the in the company\u2019s shares, after the deduction of reward will be paid if the targets are not met. For the plans are not expected to have a diluting effect on the the relevant cash proportion that is required for first 2021\u20132023 performance period the performance ownership of the company\u2019s shareholders. covering taxes and tax-related costs due on the basis targets relate to the company\u2019s absolute total of the reward. As a starting point, the net shares shareholder return and EBITA. For the second 2022\u2013In February 2022, the Board of Directors approved the shall be paid by as existing shares of the company 2024 performance period, the performance targets launch of new periods for the years 2022\u20132024 within and thus the share plan is not expected to have a relate to the company\u2019s absolute total shareholder the Performance Share Plan and Restricted Share Plan, diluting effect on the ownership of the company\u2019s return and EBIT. which form a part of Fiskars remuneration program for shareholders. its key employees. The aim of the plans is to support The Restricted Share Plan consists of annually the implementation of the company\u2019s strategy and commencing individual restricted share plans. drive profitable growth and to align the objectives of The Board of Directors will decide separately the key employees with the shareholders to increase the commencement of each individual plan. Each plan value of the company.comprises an overall three-year retention period Amount of share incentives and terms and assumptions in the fair value calculationPerformance share plan 2021 Restricted share plan 2021 Performance share plan 2018\u201320222022\u20132024 2021\u20132023 2022\u20132024 2021\u20132023 2020\u20132022 Performance periodPerformance periodRetention periodRetention periodPerformance period Maximum number of shares granted, at the end the year 324,758 354,656 25,320 28,300 293,100Grant date share price, EUR 18.25 17.20 18.25 17.20 10.28Estimated realization of share price after vesting and 15.38restriction periodExpense recorded during the financial year, EUR million 1.5Cumulative expense recorded to equity at the end of the 1.6financial year, EUR millionVesting period starts Jan 1, 2022 Jan 1, 2021 Jan 1, 2022 Jan 1, 2021 Jan 1, 2020Vesting period ends Dec 31, 2024 Dec 31, 2023 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022Number of participants 52 35 26 21 26",
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"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-237-2": {
"value": "2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
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"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-237-3": {
"value": "2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
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"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-237-4": {
"value": "2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
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"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-237-5": {
"value": "2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
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"pp-value-237-6": {
"value": "2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"value": "2.6 Financial income and expensesEUR million 2022 2021Dividends received from investments through other comprehensive income 0.3and at fair value through profit and lossInterest income 2.8 0.0Net change in fair value of other investments at fair value through profit 6.4or lossForeign exchange gain on commercial 1.4 3.7hedgesOther foreign exchange gains 0.6 0.6Financial income total 5.1 10.6Interest expenses -8.1 -1.51Penalty interests-6.3Interest cost on lease liabilities at -2.1 -1.9amortized costNet change in fair value of other investments at fair value through profit -1.3or lossOther foreign exchange losses -2.5 -0.2Other financial expenses -2.8 -0.8Financial expenses total -16.8 -10.6Financial income and expenses total -11.7 0.01 2021 Penalty interests include EUR 6.3 million relating to intra group loan forgiveness case from 2016.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-236-1": {
"value": "2.7 Income taxesIncome tax in the income statementEUR million 2022 20211Current taxes-22.6 -54.2Deferred taxes -2.4 -2.3Total income tax expense -25.0 -56.51 2021 Current taxes include EUR 23.2 million relating to intra group loan forgiveness case from 2016. INCOME TAX RECONCILIATIONReconciliation of income taxes at statutory tax rate in Finland (20%) and income taxes recognized in the Consolidated Income Statement.EUR million 2022 2021Profit before taxes 124.1 144.1Income taxes at Finnish statutory tax -24.8 -28.8rateDifference between Finnish and foreign -2.7 -2.7tax ratesEffect of deferred taxes not recognized -2.0 -3.8Benefit arising from previously 4.4 2.4unrecognized deferred tax asset1Prior year income taxes2.0 -23.1Effect of changes of tax rates 0.1 -0.5Income taxes on undistributed earnings -1.0 1.22Other items-0.8 -1.2Total income tax expense -25.0 -56.51 2021 prior year taxes include EUR 22.1 million tax cost relating to intra group loan forgiveness case from 2016.2 Other items in 2021 include EUR 1.2 million tax cost relating to non-tax deductible interest and punitive increases deriving from the intra group loan forgiveness case from 2016.Deferred taxesDeferred tax assetsDeferred tax liability has been booked fully on EUR million 2022 2021undistributed earnings of subsidiaries.Intangible assets and property, plant 8.9 11.0and equipmentMovements in the net deferred tax balanceAccruals and provisions 14.0 16.6Inventories 7.3 6.2EUR million 2022 2021Post-employment liabilities 3.5 2.9Net deferred tax asset (+) / liability (-) -4.6 -3.8Tax losses recognized 10.2 10.0at January 1 Other temporary differences 3.0 2.6Recognized in income statement -2.4 -2.3Total 46.9 49.3Recognized in other comprehensive -0.2 -0.2incomeOffset against deferred tax liabilities -18.0 -21.8Recognized in equity 0.5Total deferred tax assets 29.0 27.5Translation differences and other 1.7 1.1Net deferred tax asset (+) / liability (-) -5.5 -4.6Deferred tax liabilitiesat December 31EUR million 2022 2021Intangible assets and property, plant Amount of tax losses carried forward, tax credits and 35.8 39.7and equipmenttemporary differences for which no deferred tax asset Investments at fair value 7.3 6.6has been recognized due to uncertainty of utilization: Undistributed earnings 3.3 2.3Other temporary differences 6.0 5.3Tax losses carried forwardTotal 52.4 53.9Offset against deferred tax assets -18.0 -21.8EUR million 2022 2021Total deferred tax liabilities 34.5 32.1Expiring within 10 years 0.5 3.0No expiry 164.3 183.9Net deferred tax assets (+) and Total 164.8 186.9-5.5 -4.6liabilities (-)Deferred tax assets and liabilities are offset when Tax creditsthere is a legally enforceable right to offset current EUR million 2022 2021tax assets against current tax liabilities and when the Expiring within 10 years 0.6 0.6deferred taxes relate to the same fiscal authority.Temporary differences 2.6 0.3Taxes in other comprehensive income2022EUR million Gross Tax NetTranslation differences 3.6 3.6Cash flow hedges 0.1 0.1Defined benefit plans, 1.6 -0.2 1.3actuarial gains (losses)Other comprehensive 5.3 -0.2 5.1income for the period, total2021EUR million Gross Tax NetTranslation differences 13.6 13.6Cash flow hedges -0.1 -0.1Defined benefit plans, 0.5 -0.2 0.3actuarial gains (losses)Other comprehensive 14.0 -0.2 13.9income for the period, totalAccounting principlesThe Group\u2019s tax expense comprises current and deferred taxes. The current tax charge is calculated using the tax rate enacted or substantively enacted at the end of the reporting period. Deferred tax liabilities and deferred tax assets are accounted for temporary differences between the carrying amounts and tax basis of assets and liabilities using tax rates enacted or substantively enacted at the end of the reporting period. A deferred tax liability is recorded to its full amount on taxable temporary differences. Deferred tax assets are recognized for deductible temporary differences, unutilized tax losses and unused tax credits to the extent that it is probable that taxable profit or taxable temporary differences will be available against which the deductible temporary differences, unutilized tax losses and unused tax credits can be utilized. Deferred tax assets are assessed for realizability at the end of each reporting period. If it is no longer probable that sufficient taxable profit will be available to allow deferred tax asset utilization, carrying amount of deferred tax asset is reduced. Correspondingly, if it is probable that sufficient taxable profit will be available, reduction to deferred tax asset value is reversed. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
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"pp-value-238-3": {
"value": "Accounting principlesThe Group\u2019s tax expense comprises current and deferred taxes. The current tax charge is calculated using the tax rate enacted or substantively enacted at the end of the reporting period. Deferred tax liabilities and deferred tax assets are accounted for temporary differences between the carrying amounts and tax basis of assets and liabilities using tax rates enacted or substantively enacted at the end of the reporting period. A deferred tax liability is recorded to its full amount on taxable temporary differences. Deferred tax assets are recognized for deductible temporary differences, unutilized tax losses and unused tax credits to the extent that it is probable that taxable profit or taxable temporary differences will be available against which the deductible temporary differences, unutilized tax losses and unused tax credits can be utilized. Deferred tax assets are assessed for realizability at the end of each reporting period. If it is no longer probable that sufficient taxable profit will be available to allow deferred tax asset utilization, carrying amount of deferred tax asset is reduced. Correspondingly, if it is probable that sufficient taxable profit will be available, reduction to deferred tax asset value is reversed. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-238-4": {
"value": "Accounting principlesThe Group\u2019s tax expense comprises current and deferred taxes. The current tax charge is calculated using the tax rate enacted or substantively enacted at the end of the reporting period. Deferred tax liabilities and deferred tax assets are accounted for temporary differences between the carrying amounts and tax basis of assets and liabilities using tax rates enacted or substantively enacted at the end of the reporting period. A deferred tax liability is recorded to its full amount on taxable temporary differences. Deferred tax assets are recognized for deductible temporary differences, unutilized tax losses and unused tax credits to the extent that it is probable that taxable profit or taxable temporary differences will be available against which the deductible temporary differences, unutilized tax losses and unused tax credits can be utilized. Deferred tax assets are assessed for realizability at the end of each reporting period. If it is no longer probable that sufficient taxable profit will be available to allow deferred tax asset utilization, carrying amount of deferred tax asset is reduced. Correspondingly, if it is probable that sufficient taxable profit will be available, reduction to deferred tax asset value is reversed. ",
"dimensions": {
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"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-240-2": {
"value": "Deferred taxesDeferred tax assetsDeferred tax liability has been booked fully on EUR million 2022 2021undistributed earnings of subsidiaries.Intangible assets and property, plant 8.9 11.0and equipmentMovements in the net deferred tax balanceAccruals and provisions 14.0 16.6Inventories 7.3 6.2EUR million 2022 2021Post-employment liabilities 3.5 2.9Net deferred tax asset (+) / liability (-) -4.6 -3.8Tax losses recognized 10.2 10.0at January 1 Other temporary differences 3.0 2.6Recognized in income statement -2.4 -2.3Total 46.9 49.3Recognized in other comprehensive -0.2 -0.2incomeOffset against deferred tax liabilities -18.0 -21.8Recognized in equity 0.5Total deferred tax assets 29.0 27.5Translation differences and other 1.7 1.1Net deferred tax asset (+) / liability (-) -5.5 -4.6Deferred tax liabilitiesat December 31EUR million 2022 2021Intangible assets and property, plant Amount of tax losses carried forward, tax credits and 35.8 39.7and equipmenttemporary differences for which no deferred tax asset Investments at fair value 7.3 6.6has been recognized due to uncertainty of utilization: Undistributed earnings 3.3 2.3Other temporary differences 6.0 5.3Tax losses carried forwardTotal 52.4 53.9Offset against deferred tax assets -18.0 -21.8EUR million 2022 2021Total deferred tax liabilities 34.5 32.1Expiring within 10 years 0.5 3.0No expiry 164.3 183.9Net deferred tax assets (+) and Total 164.8 186.9-5.5 -4.6liabilities (-)Deferred tax assets and liabilities are offset when Tax creditsthere is a legally enforceable right to offset current EUR million 2022 2021tax assets against current tax liabilities and when the Expiring within 10 years 0.6 0.6deferred taxes relate to the same fiscal authority.Temporary differences 2.6 0.3",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-242-1": {
"value": "2.8 Earnings per shareFiskars Group does not have any current share option programs or other diluting financial instruments, so the diluted earnings per share is the same as basic.2022 2021Profit for the period attributable to equity holders of the parent 98.2 86.6company, EUR milllion1Number of shares81,000,000 81,905,242Weighted average number of shares 81,029,486 81,538,066outstandingEarnings per share, EUR (basic and 1.21 1.06diluted)1 On November 2, 2022, cancellation of 905,242 treasury sharesThe basic earnings per share is the annual profit for the period attributable to equity holders of the parent company divided by the weighted average number of shares outstanding during the year.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-243-3": {
"value": "The basic earnings per share is the annual profit for the period attributable to equity holders of the parent company divided by the weighted average number of shares outstanding during the year.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-252-1": {
"value": "3.1 Assets held for sale Accounting principlesNon-currrent assets, or disposal groups comprising assets and liabilities, are classified as held-for-sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. The recognition criteria are regarded to be met when a sale is highly probable, the asset (or a disposal group) is available for immediate sale in its present condition subject only to terms that are usual and customary, the management is committed to the plan to sell the asset and the sale is expected to take place within one year from the date of classification.As from classification date a non-current asset (or a disposal group) held for sale is measured at the lower of its carrying amount and fair value less costs to sell. Once classified as held-for-sale, intangible assets and property, plant and equipment are no longer amortized or depreciated, and any equity-accounted investee is no longer equity accounted.There were no non-current assets or disposal groups classified as held for sale in 2022.2021On December 21, 2021, Fiskars Oyj Abp announced it has signed an agreement to sell its North American Watering business to Lawn & Garden LLC, a holding company owned by affiliates of Centre Lane Partners (CLP), a New York based private equity firm. The transaction was structured as an asset sale. The agreement covers intellectual property including the Gilmour and Nelson brands, related trademarks and patents pertaining to watering equipment commercialized in North America. As part of the agreement, the manufacturing plant in Excelsior Springs, Missouri and the warehouse operations in Independence, Missouri, as well as employees working in these two locations, will be included in the transaction. The business subject to the transaction had a net sales of approximately EUR 80 million for the twelve month period ending September 30, 2021. The transaction was completed in February 1, 2022. The sale did not have a significant impact on Fiskars Corporation\u2019s EBIT or financial position in 2022. Assets directly associated with the sale are classified as held for sale and presented separately in the Consolidated Balance Sheet. The carrying amounts of significant assets are as follows:EUR million Note 2022 2021Property, plant and 3.3 5.0equipmentInventories 4.1 33.4Assets held for sale 38.4",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-252-2": {
"value": "3.1 Assets held for sale Accounting principlesNon-currrent assets, or disposal groups comprising assets and liabilities, are classified as held-for-sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. The recognition criteria are regarded to be met when a sale is highly probable, the asset (or a disposal group) is available for immediate sale in its present condition subject only to terms that are usual and customary, the management is committed to the plan to sell the asset and the sale is expected to take place within one year from the date of classification.As from classification date a non-current asset (or a disposal group) held for sale is measured at the lower of its carrying amount and fair value less costs to sell. Once classified as held-for-sale, intangible assets and property, plant and equipment are no longer amortized or depreciated, and any equity-accounted investee is no longer equity accounted.There were no non-current assets or disposal groups classified as held for sale in 2022.2021On December 21, 2021, Fiskars Oyj Abp announced it has signed an agreement to sell its North American Watering business to Lawn & Garden LLC, a holding company owned by affiliates of Centre Lane Partners (CLP), a New York based private equity firm. The transaction was structured as an asset sale. The agreement covers intellectual property including the Gilmour and Nelson brands, related trademarks and patents pertaining to watering equipment commercialized in North America. As part of the agreement, the manufacturing plant in Excelsior Springs, Missouri and the warehouse operations in Independence, Missouri, as well as employees working in these two locations, will be included in the transaction. The business subject to the transaction had a net sales of approximately EUR 80 million for the twelve month period ending September 30, 2021. The transaction was completed in February 1, 2022. The sale did not have a significant impact on Fiskars Corporation\u2019s EBIT or financial position in 2022. Assets directly associated with the sale are classified as held for sale and presented separately in the Consolidated Balance Sheet. The carrying amounts of significant assets are as follows:EUR million Note 2022 2021Property, plant and 3.3 5.0equipmentInventories 4.1 33.4Assets held for sale 38.4",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-253-3": {
"value": "Accounting principlesNon-currrent assets, or disposal groups comprising assets and liabilities, are classified as held-for-sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. The recognition criteria are regarded to be met when a sale is highly probable, the asset (or a disposal group) is available for immediate sale in its present condition subject only to terms that are usual and customary, the management is committed to the plan to sell the asset and the sale is expected to take place within one year from the date of classification.As from classification date a non-current asset (or a disposal group) held for sale is measured at the lower of its carrying amount and fair value less costs to sell. Once classified as held-for-sale, intangible assets and property, plant and equipment are no longer amortized or depreciated, and any equity-accounted investee is no longer equity accounted.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-253-4": {
"value": "Accounting principlesNon-currrent assets, or disposal groups comprising assets and liabilities, are classified as held-for-sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. The recognition criteria are regarded to be met when a sale is highly probable, the asset (or a disposal group) is available for immediate sale in its present condition subject only to terms that are usual and customary, the management is committed to the plan to sell the asset and the sale is expected to take place within one year from the date of classification.As from classification date a non-current asset (or a disposal group) held for sale is measured at the lower of its carrying amount and fair value less costs to sell. Once classified as held-for-sale, intangible assets and property, plant and equipment are no longer amortized or depreciated, and any equity-accounted investee is no longer equity accounted.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-256-2": {
"value": "Accounting principlesAn intangible asset is initially recognized in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the group. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.RESEARCH AND DEVELOPMENT COSTSResearch and development costs are expensed as they are incurred, except for those development costs that are capitalized if the criteria in IAS 38 are met. Capitalized development costs consisting of mainly direct labor costs and external services are recognized as intangible assets. In 2022, research and development expenses amounted to EUR 20.8 million (2021: 15.5).Intangible assets not yet available for use are tested annually for impairment. Subsequently capitalized development costs are measured at cost less accumulated amortization and accumulated impairment losses. They are amortized on a straight-line basis over their useful lives, from 3 to 6 years.OTHER INTANGIBLE ASSETSOther intangible assets include among other patents, capitalized development costs, software, as well as trademarks and customer relationships acquired in business combinations. Intangible assets are stated at cost less accumulated amortization and any accumulated impairment. Intangible assets in this class are amortized on a straight-line basis over their known or expected useful lives.Residual values and expected useful lives are reassessed at least at the end of reporting period, and if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows:Software3\u201310 yearsCustomer relationships5\u201315 yearsOther3\u201310 yearsIntangible assets with an indefinite useful life such as trademarks or brand names acquired in business combinations are not amortized but they are tested at least annually for impairment.3.2 Intangible assets2022Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 231.4 249.0 138.5 40.7 8.8 668.4Translation differences 2.0 1.5 1.3 0.4 -0.2 4.9Additions 0.5 3.6 0.5 15.7 20.3Decreases -0.6 -44.4 -0.8 -0.0 -45.9Transfers between asset groups 1.0 -1.0 0.0Historical cost, Dec 31 233.5 250.4 99.9 40.8 23.3 647.7Accumulated amortization and impairment, Jan 1 12.3 22.7 110.8 33.2 179.1Translation differences -0.1 -0.4 1.5 -0.2 0.9Amortization 0.6 11.2 1.9 13.7Impairment 0.1 0.1Decreases -0.6 -44.4 -0.6 -45.7Accumulated amortization and impairment, Dec 31 12.2 22.4 79.0 34.3 147.9Net book value, Dec 31 221.2 228.0 21.0 6.2 23.5 499.82021Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 226.9 246.0 123.8 39.8 8.9 645.4Translation differences 4.6 2.3 2.2 1.2 0.2 10.5Additions 0.6 5.3 0.0 7.4 13.4Decreases 0.0 -0.6 -0.4 0.0 -0.9Transfers between asset groups 0.0 7.7 0.1 -7.8 0.0Historical cost, Dec 31 231.4 249.0 138.5 40.7 8.8 668.4Accumulated amortization and impairment, Jan 1 13.2 22.2 97.4 30.8 163.6Translation differences -0.9 -0.2 2.2 0.9 2.0Amortization 0.0 0.8 11.8 1.4 14.0Impairment 0.0 0.0 0.1 0.1Decreases 0.0 -0.6 0.1 -0.5Accumulated amortization and impairment, Dec 31 12.3 22.7 110.8 33.2 179.1Net book value, Dec 31 219.1 226.2 27.7 7.5 8.8 489.3Goodwill impairment test in cash-generating unitsTo determine a potential impairment the carrying amount of asset\u2019s recoverable amount since the last impairment loss was Accounting principlesthe asset, or the carrying amounts of the CGU\u2019s net assets recognised. An impairment loss is reversed only to the extent Fiskars Group\u2019s operations have been divided into cash-are compared against the recoverable amount of that asset that the asset\u2019s carrying amount does not exceed the carrying generating units (CGU) that are similar to the primary reporting or CGU. The recoverable amount is the higher of the present amount that would have been determined, net of amortization segments. The carrying amounts of the assets relating to value of the future cash flows (value in use) and the fair or depreciation, if no impairment loss had been recognized these CGUs are reviewed for impairment indicators annually at value less costs to sell. An impairment loss is recognized for for the asset in prior years. An impairment loss recognized for the end of the reporting period. The recoverable amounts of an asset when its carrying amount exceeds its recoverable goodwill is not reversed.the following assets are also estimated annually irrespective amount. An impairment loss previously recognized for items of whether there is any indication for impairment: goodwill, property, plant, and equipment as well as for intangible assets intangible assets with indefinite useful lives and unfinished other than goodwill is reversed subsequently only if there intangible assets. has been a change in the estimates used to determine the Goodwill is not amortized but is tested at least Fiskars Group has nine trademarks whose aggregate Sensitivity analysesannually for impairment. Goodwill has been allocated carrying amount is EUR 207.7 million (2021: 203.7). Sensitivity analyses of goodwill have been carried out to cash-generating units as at December 31, 2022 Total EUR 106.9 million of trademarks, patents and for the valuation of each CGU by making downside and 2021 as follows:domain names was recorded in the Consolidated scenarios for key parameters. The management Balance Sheet with relation of WWRD acquisition views that no reasonably possible change in any of EUR million 2022 2021(English Crystal & Living business) in 2015. Since the key parameters would lead to impairment as the Vita 218.4 216.6the benefits from trademarks are indefinite, they recoverable amounts exceed the carrying amounts. Terraare not amortized but are tested at least annually The recoverable amount exceeds the carrying Crea 2.8 2.5for impairment using a royalty relief method. An amounts after changes in the key parametres. Total 221.2 219.1exception for this principle is trademark Hackman for which amortization has begun in 2017 (amortization Sensitivity analyses of trademarks have been The primary reporting segments, which form the period 20 years). Cash flows attributable to carried out for the valuation of each trademark by CGUs, are Vita, Terra and Crea. The recoverable trademarks are derived by identifying revenues from making downside scenarios for key parameters. amounts from CGUs are determined with value in sales of products belonging to each trademark. The management views that no reasonably possible use method, using five-year discounted cash flow The value in use of trademarks is determined on a change in any of the key parameters would lead to projections, based on strategic plans approved by discounted cash flow method basis, derived from impairment.management for years 2023-2025, and after this five-year cash flow projections, based on strategic cash flows are estimated for two year period before plans approved by the management. Cash flows for calculating the terminal value. Cash flows for the the period extending over the planning period are period extending over the five year planning period calculated using the terminal value method. As a are calculated using the terminal value method. The result of the annual impairment tests, no impairment discount rate is the weighted average post-tax cost was recognized on trademarks in 2022, or in 2021.of capital (WACC) as defined by Fiskars Group. The components of the WACC are risk-free rate, market Key parameters applied in impairment testingrisk premium, company-specific risk premium, 2022 2021industry specific equity beta, cost of debt and debt to % Goodwill Trademarks* Goodwill Trademarks*equity ratio. WACC components have been updated Increase in net sales on average 7.9 8.7 5.3 6.6to present the current market conditions. As a result Steady growth rate in projecting terminal value 1.0 1.0 1.0 1.0of the annual impairment tests, no impairment was recognized on goodwill in 2022, or in 2021. Discount rate, pre-tax, average 7.8 9.4 7.3 9.1* Used one percentage point higher risk premium than in goodwill testing",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-256-3": {
"value": "Accounting principlesAn intangible asset is initially recognized in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the group. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.RESEARCH AND DEVELOPMENT COSTSResearch and development costs are expensed as they are incurred, except for those development costs that are capitalized if the criteria in IAS 38 are met. Capitalized development costs consisting of mainly direct labor costs and external services are recognized as intangible assets. In 2022, research and development expenses amounted to EUR 20.8 million (2021: 15.5).Intangible assets not yet available for use are tested annually for impairment. Subsequently capitalized development costs are measured at cost less accumulated amortization and accumulated impairment losses. They are amortized on a straight-line basis over their useful lives, from 3 to 6 years.OTHER INTANGIBLE ASSETSOther intangible assets include among other patents, capitalized development costs, software, as well as trademarks and customer relationships acquired in business combinations. Intangible assets are stated at cost less accumulated amortization and any accumulated impairment. Intangible assets in this class are amortized on a straight-line basis over their known or expected useful lives.Residual values and expected useful lives are reassessed at least at the end of reporting period, and if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows:Software3\u201310 yearsCustomer relationships5\u201315 yearsOther3\u201310 yearsIntangible assets with an indefinite useful life such as trademarks or brand names acquired in business combinations are not amortized but they are tested at least annually for impairment.3.2 Intangible assets2022Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 231.4 249.0 138.5 40.7 8.8 668.4Translation differences 2.0 1.5 1.3 0.4 -0.2 4.9Additions 0.5 3.6 0.5 15.7 20.3Decreases -0.6 -44.4 -0.8 -0.0 -45.9Transfers between asset groups 1.0 -1.0 0.0Historical cost, Dec 31 233.5 250.4 99.9 40.8 23.3 647.7Accumulated amortization and impairment, Jan 1 12.3 22.7 110.8 33.2 179.1Translation differences -0.1 -0.4 1.5 -0.2 0.9Amortization 0.6 11.2 1.9 13.7Impairment 0.1 0.1Decreases -0.6 -44.4 -0.6 -45.7Accumulated amortization and impairment, Dec 31 12.2 22.4 79.0 34.3 147.9Net book value, Dec 31 221.2 228.0 21.0 6.2 23.5 499.82021Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 226.9 246.0 123.8 39.8 8.9 645.4Translation differences 4.6 2.3 2.2 1.2 0.2 10.5Additions 0.6 5.3 0.0 7.4 13.4Decreases 0.0 -0.6 -0.4 0.0 -0.9Transfers between asset groups 0.0 7.7 0.1 -7.8 0.0Historical cost, Dec 31 231.4 249.0 138.5 40.7 8.8 668.4Accumulated amortization and impairment, Jan 1 13.2 22.2 97.4 30.8 163.6Translation differences -0.9 -0.2 2.2 0.9 2.0Amortization 0.0 0.8 11.8 1.4 14.0Impairment 0.0 0.0 0.1 0.1Decreases 0.0 -0.6 0.1 -0.5Accumulated amortization and impairment, Dec 31 12.3 22.7 110.8 33.2 179.1Net book value, Dec 31 219.1 226.2 27.7 7.5 8.8 489.3Goodwill impairment test in cash-generating unitsTo determine a potential impairment the carrying amount of asset\u2019s recoverable amount since the last impairment loss was Accounting principlesthe asset, or the carrying amounts of the CGU\u2019s net assets recognised. An impairment loss is reversed only to the extent Fiskars Group\u2019s operations have been divided into cash-are compared against the recoverable amount of that asset that the asset\u2019s carrying amount does not exceed the carrying generating units (CGU) that are similar to the primary reporting or CGU. The recoverable amount is the higher of the present amount that would have been determined, net of amortization segments. The carrying amounts of the assets relating to value of the future cash flows (value in use) and the fair or depreciation, if no impairment loss had been recognized these CGUs are reviewed for impairment indicators annually at value less costs to sell. An impairment loss is recognized for for the asset in prior years. An impairment loss recognized for the end of the reporting period. The recoverable amounts of an asset when its carrying amount exceeds its recoverable goodwill is not reversed.the following assets are also estimated annually irrespective amount. An impairment loss previously recognized for items of whether there is any indication for impairment: goodwill, property, plant, and equipment as well as for intangible assets intangible assets with indefinite useful lives and unfinished other than goodwill is reversed subsequently only if there intangible assets. has been a change in the estimates used to determine the Goodwill is not amortized but is tested at least Fiskars Group has nine trademarks whose aggregate Sensitivity analysesannually for impairment. Goodwill has been allocated carrying amount is EUR 207.7 million (2021: 203.7). Sensitivity analyses of goodwill have been carried out to cash-generating units as at December 31, 2022 Total EUR 106.9 million of trademarks, patents and for the valuation of each CGU by making downside and 2021 as follows:domain names was recorded in the Consolidated scenarios for key parameters. The management Balance Sheet with relation of WWRD acquisition views that no reasonably possible change in any of EUR million 2022 2021(English Crystal & Living business) in 2015. Since the key parameters would lead to impairment as the Vita 218.4 216.6the benefits from trademarks are indefinite, they recoverable amounts exceed the carrying amounts. Terraare not amortized but are tested at least annually The recoverable amount exceeds the carrying Crea 2.8 2.5for impairment using a royalty relief method. An amounts after changes in the key parametres. Total 221.2 219.1exception for this principle is trademark Hackman for which amortization has begun in 2017 (amortization Sensitivity analyses of trademarks have been The primary reporting segments, which form the period 20 years). Cash flows attributable to carried out for the valuation of each trademark by CGUs, are Vita, Terra and Crea. The recoverable trademarks are derived by identifying revenues from making downside scenarios for key parameters. amounts from CGUs are determined with value in sales of products belonging to each trademark. The management views that no reasonably possible use method, using five-year discounted cash flow The value in use of trademarks is determined on a change in any of the key parameters would lead to projections, based on strategic plans approved by discounted cash flow method basis, derived from impairment.management for years 2023-2025, and after this five-year cash flow projections, based on strategic cash flows are estimated for two year period before plans approved by the management. Cash flows for calculating the terminal value. Cash flows for the the period extending over the planning period are period extending over the five year planning period calculated using the terminal value method. As a are calculated using the terminal value method. The result of the annual impairment tests, no impairment discount rate is the weighted average post-tax cost was recognized on trademarks in 2022, or in 2021.of capital (WACC) as defined by Fiskars Group. The components of the WACC are risk-free rate, market Key parameters applied in impairment testingrisk premium, company-specific risk premium, 2022 2021industry specific equity beta, cost of debt and debt to % Goodwill Trademarks* Goodwill Trademarks*equity ratio. WACC components have been updated Increase in net sales on average 7.9 8.7 5.3 6.6to present the current market conditions. As a result Steady growth rate in projecting terminal value 1.0 1.0 1.0 1.0of the annual impairment tests, no impairment was recognized on goodwill in 2022, or in 2021. Discount rate, pre-tax, average 7.8 9.4 7.3 9.1* Used one percentage point higher risk premium than in goodwill testing",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-256-4": {
"value": "Accounting principlesAn intangible asset is initially recognized in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the group. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.RESEARCH AND DEVELOPMENT COSTSResearch and development costs are expensed as they are incurred, except for those development costs that are capitalized if the criteria in IAS 38 are met. Capitalized development costs consisting of mainly direct labor costs and external services are recognized as intangible assets. In 2022, research and development expenses amounted to EUR 20.8 million (2021: 15.5).Intangible assets not yet available for use are tested annually for impairment. Subsequently capitalized development costs are measured at cost less accumulated amortization and accumulated impairment losses. They are amortized on a straight-line basis over their useful lives, from 3 to 6 years.OTHER INTANGIBLE ASSETSOther intangible assets include among other patents, capitalized development costs, software, as well as trademarks and customer relationships acquired in business combinations. Intangible assets are stated at cost less accumulated amortization and any accumulated impairment. Intangible assets in this class are amortized on a straight-line basis over their known or expected useful lives.Residual values and expected useful lives are reassessed at least at the end of reporting period, and if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows:Software3\u201310 yearsCustomer relationships5\u201315 yearsOther3\u201310 yearsIntangible assets with an indefinite useful life such as trademarks or brand names acquired in business combinations are not amortized but they are tested at least annually for impairment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-256-5": {
"value": "Accounting principlesAn intangible asset is initially recognized in the balance sheet at cost if the cost can be measured reliably and it is probable that the expected future economic benefits that are attributable to the asset will flow to the group. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.RESEARCH AND DEVELOPMENT COSTSResearch and development costs are expensed as they are incurred, except for those development costs that are capitalized if the criteria in IAS 38 are met. Capitalized development costs consisting of mainly direct labor costs and external services are recognized as intangible assets. In 2022, research and development expenses amounted to EUR 20.8 million (2021: 15.5).Intangible assets not yet available for use are tested annually for impairment. Subsequently capitalized development costs are measured at cost less accumulated amortization and accumulated impairment losses. They are amortized on a straight-line basis over their useful lives, from 3 to 6 years.OTHER INTANGIBLE ASSETSOther intangible assets include among other patents, capitalized development costs, software, as well as trademarks and customer relationships acquired in business combinations. Intangible assets are stated at cost less accumulated amortization and any accumulated impairment. Intangible assets in this class are amortized on a straight-line basis over their known or expected useful lives.Residual values and expected useful lives are reassessed at least at the end of reporting period, and if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows:Software3\u201310 yearsCustomer relationships5\u201315 yearsOther3\u201310 yearsIntangible assets with an indefinite useful life such as trademarks or brand names acquired in business combinations are not amortized but they are tested at least annually for impairment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-267-4": {
"value": "GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.3.2 Intangible assets2022Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 231.4 249.0 138.5 40.7 8.8 668.4Translation differences 2.0 1.5 1.3 0.4 -0.2 4.9Additions 0.5 3.6 0.5 15.7 20.3Decreases -0.6 -44.4 -0.8 -0.0 -45.9Transfers between asset groups 1.0 -1.0 0.0Historical cost, Dec 31 233.5 250.4 99.9 40.8 23.3 647.7Accumulated amortization and impairment, Jan 1 12.3 22.7 110.8 33.2 179.1Translation differences -0.1 -0.4 1.5 -0.2 0.9Amortization 0.6 11.2 1.9 13.7Impairment 0.1 0.1Decreases -0.6 -44.4 -0.6 -45.7Accumulated amortization and impairment, Dec 31 12.2 22.4 79.0 34.3 147.9Net book value, Dec 31 221.2 228.0 21.0 6.2 23.5 499.82021Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 226.9 246.0 123.8 39.8 8.9 645.4Translation differences 4.6 2.3 2.2 1.2 0.2 10.5Additions 0.6 5.3 0.0 7.4 13.4Decreases 0.0 -0.6 -0.4 0.0 -0.9Transfers between asset groups 0.0 7.7 0.1 -7.8 0.0Historical cost, Dec 31 231.4 249.0 138.5 40.7 8.8 668.4Accumulated amortization and impairment, Jan 1 13.2 22.2 97.4 30.8 163.6Translation differences -0.9 -0.2 2.2 0.9 2.0Amortization 0.0 0.8 11.8 1.4 14.0Impairment 0.0 0.0 0.1 0.1Decreases 0.0 -0.6 0.1 -0.5Accumulated amortization and impairment, Dec 31 12.3 22.7 110.8 33.2 179.1Net book value, Dec 31 219.1 226.2 27.7 7.5 8.8 489.3Goodwill impairment test in cash-generating unitsTo determine a potential impairment the carrying amount of asset\u2019s recoverable amount since the last impairment loss was Accounting principlesthe asset, or the carrying amounts of the CGU\u2019s net assets recognised. An impairment loss is reversed only to the extent Fiskars Group\u2019s operations have been divided into cash-are compared against the recoverable amount of that asset that the asset\u2019s carrying amount does not exceed the carrying generating units (CGU) that are similar to the primary reporting or CGU. The recoverable amount is the higher of the present amount that would have been determined, net of amortization segments. The carrying amounts of the assets relating to value of the future cash flows (value in use) and the fair or depreciation, if no impairment loss had been recognized these CGUs are reviewed for impairment indicators annually at value less costs to sell. An impairment loss is recognized for for the asset in prior years. An impairment loss recognized for the end of the reporting period. The recoverable amounts of an asset when its carrying amount exceeds its recoverable goodwill is not reversed.the following assets are also estimated annually irrespective amount. An impairment loss previously recognized for items of whether there is any indication for impairment: goodwill, property, plant, and equipment as well as for intangible assets intangible assets with indefinite useful lives and unfinished other than goodwill is reversed subsequently only if there intangible assets. has been a change in the estimates used to determine the Goodwill is not amortized but is tested at least Fiskars Group has nine trademarks whose aggregate Sensitivity analysesannually for impairment. Goodwill has been allocated carrying amount is EUR 207.7 million (2021: 203.7). Sensitivity analyses of goodwill have been carried out to cash-generating units as at December 31, 2022 Total EUR 106.9 million of trademarks, patents and for the valuation of each CGU by making downside and 2021 as follows:domain names was recorded in the Consolidated scenarios for key parameters. The management Balance Sheet with relation of WWRD acquisition views that no reasonably possible change in any of EUR million 2022 2021(English Crystal & Living business) in 2015. Since the key parameters would lead to impairment as the Vita 218.4 216.6the benefits from trademarks are indefinite, they recoverable amounts exceed the carrying amounts. Terraare not amortized but are tested at least annually The recoverable amount exceeds the carrying Crea 2.8 2.5for impairment using a royalty relief method. An amounts after changes in the key parametres. Total 221.2 219.1exception for this principle is trademark Hackman for which amortization has begun in 2017 (amortization Sensitivity analyses of trademarks have been The primary reporting segments, which form the period 20 years). Cash flows attributable to carried out for the valuation of each trademark by CGUs, are Vita, Terra and Crea. The recoverable trademarks are derived by identifying revenues from making downside scenarios for key parameters. amounts from CGUs are determined with value in sales of products belonging to each trademark. The management views that no reasonably possible use method, using five-year discounted cash flow The value in use of trademarks is determined on a change in any of the key parameters would lead to projections, based on strategic plans approved by discounted cash flow method basis, derived from impairment.management for years 2023-2025, and after this five-year cash flow projections, based on strategic cash flows are estimated for two year period before plans approved by the management. Cash flows for calculating the terminal value. Cash flows for the the period extending over the planning period are period extending over the five year planning period calculated using the terminal value method. As a are calculated using the terminal value method. The result of the annual impairment tests, no impairment discount rate is the weighted average post-tax cost was recognized on trademarks in 2022, or in 2021.of capital (WACC) as defined by Fiskars Group. The components of the WACC are risk-free rate, market Key parameters applied in impairment testingrisk premium, company-specific risk premium, 2022 2021industry specific equity beta, cost of debt and debt to % Goodwill Trademarks* Goodwill Trademarks*equity ratio. WACC components have been updated Increase in net sales on average 7.9 8.7 5.3 6.6to present the current market conditions. As a result Steady growth rate in projecting terminal value 1.0 1.0 1.0 1.0of the annual impairment tests, no impairment was recognized on goodwill in 2022, or in 2021. Discount rate, pre-tax, average 7.8 9.4 7.3 9.1* Used one percentage point higher risk premium than in goodwill testing",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-267-5": {
"value": "GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.3.2 Intangible assets2022Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 231.4 249.0 138.5 40.7 8.8 668.4Translation differences 2.0 1.5 1.3 0.4 -0.2 4.9Additions 0.5 3.6 0.5 15.7 20.3Decreases -0.6 -44.4 -0.8 -0.0 -45.9Transfers between asset groups 1.0 -1.0 0.0Historical cost, Dec 31 233.5 250.4 99.9 40.8 23.3 647.7Accumulated amortization and impairment, Jan 1 12.3 22.7 110.8 33.2 179.1Translation differences -0.1 -0.4 1.5 -0.2 0.9Amortization 0.6 11.2 1.9 13.7Impairment 0.1 0.1Decreases -0.6 -44.4 -0.6 -45.7Accumulated amortization and impairment, Dec 31 12.2 22.4 79.0 34.3 147.9Net book value, Dec 31 221.2 228.0 21.0 6.2 23.5 499.82021Trademarks, patents Other intangible Construction in EUR million GoodwillSoftwareTotaland domain namesassetsprogressHistorical cost, Jan 1 226.9 246.0 123.8 39.8 8.9 645.4Translation differences 4.6 2.3 2.2 1.2 0.2 10.5Additions 0.6 5.3 0.0 7.4 13.4Decreases 0.0 -0.6 -0.4 0.0 -0.9Transfers between asset groups 0.0 7.7 0.1 -7.8 0.0Historical cost, Dec 31 231.4 249.0 138.5 40.7 8.8 668.4Accumulated amortization and impairment, Jan 1 13.2 22.2 97.4 30.8 163.6Translation differences -0.9 -0.2 2.2 0.9 2.0Amortization 0.0 0.8 11.8 1.4 14.0Impairment 0.0 0.0 0.1 0.1Decreases 0.0 -0.6 0.1 -0.5Accumulated amortization and impairment, Dec 31 12.3 22.7 110.8 33.2 179.1Net book value, Dec 31 219.1 226.2 27.7 7.5 8.8 489.3Goodwill impairment test in cash-generating unitsTo determine a potential impairment the carrying amount of asset\u2019s recoverable amount since the last impairment loss was Accounting principlesthe asset, or the carrying amounts of the CGU\u2019s net assets recognised. An impairment loss is reversed only to the extent Fiskars Group\u2019s operations have been divided into cash-are compared against the recoverable amount of that asset that the asset\u2019s carrying amount does not exceed the carrying generating units (CGU) that are similar to the primary reporting or CGU. The recoverable amount is the higher of the present amount that would have been determined, net of amortization segments. The carrying amounts of the assets relating to value of the future cash flows (value in use) and the fair or depreciation, if no impairment loss had been recognized these CGUs are reviewed for impairment indicators annually at value less costs to sell. An impairment loss is recognized for for the asset in prior years. An impairment loss recognized for the end of the reporting period. The recoverable amounts of an asset when its carrying amount exceeds its recoverable goodwill is not reversed.the following assets are also estimated annually irrespective amount. An impairment loss previously recognized for items of whether there is any indication for impairment: goodwill, property, plant, and equipment as well as for intangible assets intangible assets with indefinite useful lives and unfinished other than goodwill is reversed subsequently only if there intangible assets. has been a change in the estimates used to determine the Goodwill is not amortized but is tested at least Fiskars Group has nine trademarks whose aggregate Sensitivity analysesannually for impairment. Goodwill has been allocated carrying amount is EUR 207.7 million (2021: 203.7). Sensitivity analyses of goodwill have been carried out to cash-generating units as at December 31, 2022 Total EUR 106.9 million of trademarks, patents and for the valuation of each CGU by making downside and 2021 as follows:domain names was recorded in the Consolidated scenarios for key parameters. The management Balance Sheet with relation of WWRD acquisition views that no reasonably possible change in any of EUR million 2022 2021(English Crystal & Living business) in 2015. Since the key parameters would lead to impairment as the Vita 218.4 216.6the benefits from trademarks are indefinite, they recoverable amounts exceed the carrying amounts. Terraare not amortized but are tested at least annually The recoverable amount exceeds the carrying Crea 2.8 2.5for impairment using a royalty relief method. An amounts after changes in the key parametres. Total 221.2 219.1exception for this principle is trademark Hackman for which amortization has begun in 2017 (amortization Sensitivity analyses of trademarks have been The primary reporting segments, which form the period 20 years). Cash flows attributable to carried out for the valuation of each trademark by CGUs, are Vita, Terra and Crea. The recoverable trademarks are derived by identifying revenues from making downside scenarios for key parameters. amounts from CGUs are determined with value in sales of products belonging to each trademark. The management views that no reasonably possible use method, using five-year discounted cash flow The value in use of trademarks is determined on a change in any of the key parameters would lead to projections, based on strategic plans approved by discounted cash flow method basis, derived from impairment.management for years 2023-2025, and after this five-year cash flow projections, based on strategic cash flows are estimated for two year period before plans approved by the management. Cash flows for calculating the terminal value. Cash flows for the the period extending over the planning period are period extending over the five year planning period calculated using the terminal value method. As a are calculated using the terminal value method. The result of the annual impairment tests, no impairment discount rate is the weighted average post-tax cost was recognized on trademarks in 2022, or in 2021.of capital (WACC) as defined by Fiskars Group. The components of the WACC are risk-free rate, market Key parameters applied in impairment testingrisk premium, company-specific risk premium, 2022 2021industry specific equity beta, cost of debt and debt to % Goodwill Trademarks* Goodwill Trademarks*equity ratio. WACC components have been updated Increase in net sales on average 7.9 8.7 5.3 6.6to present the current market conditions. As a result Steady growth rate in projecting terminal value 1.0 1.0 1.0 1.0of the annual impairment tests, no impairment was recognized on goodwill in 2022, or in 2021. Discount rate, pre-tax, average 7.8 9.4 7.3 9.1* Used one percentage point higher risk premium than in goodwill testing",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-267-6": {
"value": "GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-267-7": {
"value": "GOODWILLGoodwill represents the Group\u2019s share of difference between the cost of the acquisition and the fair value of the net identifiable assets, liabilities, and contingent liabilities acquired, measured at the acquisition date. Goodwill is stated at historical cost less any accumulated impairment losses. Goodwill is not amortized but is tested for impairment at least annually. For this purpose goodwill has been allocated to cash-generating units (CGU) or, in case of an associated company, the goodwill is included within the carrying amount of the associate in question. The recoverable amount of the unit is compared annually or more often if there are indications of impairment, with its carrying amount to determine potential impairment.Contingent consideration will be measured at fair value and subsequently measured through profit or loss. All acquisition-related costs, such as experts\u2019 fees, will be expensed instead of capitalization. There is a choice on an acquisition-by-acquisition basis to measure the non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-287-5": {
"value": "RESEARCH AND DEVELOPMENT COSTSResearch and development costs are expensed as they are incurred, except for those development costs that are capitalized if the criteria in IAS 38 are met. Capitalized development costs consisting of mainly direct labor costs and external services are recognized as intangible assets. In 2022, research and development expenses amounted to EUR 20.8 million (2021: 15.5).Intangible assets not yet available for use are tested annually for impairment. Subsequently capitalized development costs are measured at cost less accumulated amortization and accumulated impairment losses. They are amortized on a straight-line basis over their useful lives, from 3 to 6 years.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-287-6": {
"value": "RESEARCH AND DEVELOPMENT COSTSResearch and development costs are expensed as they are incurred, except for those development costs that are capitalized if the criteria in IAS 38 are met. Capitalized development costs consisting of mainly direct labor costs and external services are recognized as intangible assets. In 2022, research and development expenses amounted to EUR 20.8 million (2021: 15.5).Intangible assets not yet available for use are tested annually for impairment. Subsequently capitalized development costs are measured at cost less accumulated amortization and accumulated impairment losses. They are amortized on a straight-line basis over their useful lives, from 3 to 6 years.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-308-6": {
"value": "Residual values and expected useful lives are reassessed at least at the end of reporting period, and if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows:Software3\u201310 yearsCustomer relationships5\u201315 yearsOther3\u201310 yearsIntangible assets with an indefinite useful life such as trademarks or brand names acquired in business combinations are not amortized but they are tested at least annually for impairment.RIGHT-OF-USE ASSETSFiskars Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are initially measured at cost, including the initial measurement of lease liabilities, any initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Subsequently right-of-use asset is measured at cost less any accumulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the lease term, generally as follows:Real estate3\u201315 yearsOther assets3\u20135 yearsAccounting principlesThe properties that are not used in the Group\u2019s operations or which are held to earn rental income or increase in value are classified as investment property. These properties are measured at cost less accumulated depreciation and impairment. Investment properties are depreciated over 20\u201340 years on a straight-line basis. Land is not depreciated.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-323-5": {
"value": "Goodwill impairment test in cash-generating unitsTo determine a potential impairment the carrying amount of asset\u2019s recoverable amount since the last impairment loss was Accounting principlesthe asset, or the carrying amounts of the CGU\u2019s net assets recognised. An impairment loss is reversed only to the extent Fiskars Group\u2019s operations have been divided into cash-are compared against the recoverable amount of that asset that the asset\u2019s carrying amount does not exceed the carrying generating units (CGU) that are similar to the primary reporting or CGU. The recoverable amount is the higher of the present amount that would have been determined, net of amortization segments. The carrying amounts of the assets relating to value of the future cash flows (value in use) and the fair or depreciation, if no impairment loss had been recognized these CGUs are reviewed for impairment indicators annually at value less costs to sell. An impairment loss is recognized for for the asset in prior years. An impairment loss recognized for the end of the reporting period. The recoverable amounts of an asset when its carrying amount exceeds its recoverable goodwill is not reversed.the following assets are also estimated annually irrespective amount. An impairment loss previously recognized for items of whether there is any indication for impairment: goodwill, property, plant, and equipment as well as for intangible assets intangible assets with indefinite useful lives and unfinished other than goodwill is reversed subsequently only if there intangible assets. has been a change in the estimates used to determine the Accounting principlesTrade receivables are measured at amortized cost. According to the simplified impairment model under IFRS 9, an allowance amounting to lifetime expected credit losses is recognized at first reporting date. To measure the lifetime expected credit losses, trade receivables have been grouped based on aging categories. An allowance for doubtful receivables is measured based on historical loss rates adjusted by forward looking estimates and individual assessment. The inputs used in the model are updated on a regular basis. Impairment is recognized as an expense in Other operating expenses. If an amount previously recognized to Consolidated Income Statement is subsequently settled, it is recognized as a reduction to Other operating expenses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-323-6": {
"value": "Goodwill impairment test in cash-generating unitsTo determine a potential impairment the carrying amount of asset\u2019s recoverable amount since the last impairment loss was Accounting principlesthe asset, or the carrying amounts of the CGU\u2019s net assets recognised. An impairment loss is reversed only to the extent Fiskars Group\u2019s operations have been divided into cash-are compared against the recoverable amount of that asset that the asset\u2019s carrying amount does not exceed the carrying generating units (CGU) that are similar to the primary reporting or CGU. The recoverable amount is the higher of the present amount that would have been determined, net of amortization segments. The carrying amounts of the assets relating to value of the future cash flows (value in use) and the fair or depreciation, if no impairment loss had been recognized these CGUs are reviewed for impairment indicators annually at value less costs to sell. An impairment loss is recognized for for the asset in prior years. An impairment loss recognized for the end of the reporting period. The recoverable amounts of an asset when its carrying amount exceeds its recoverable goodwill is not reversed.the following assets are also estimated annually irrespective amount. An impairment loss previously recognized for items of whether there is any indication for impairment: goodwill, property, plant, and equipment as well as for intangible assets intangible assets with indefinite useful lives and unfinished other than goodwill is reversed subsequently only if there intangible assets. has been a change in the estimates used to determine the ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-325-1": {
"value": "3.3 Property, plant and equipment2022Machinery andConstruction EUR million Land and water BuildingsTotalequipmentin progressHistorical cost, Jan 1 21.0 91.9 111.3 10.4 234.6Translation differences 0.2 0.2 4.5 0.2 5.0Additions 3.1 8.3 14.5 26.0Decreases -0.2 -5.0 -8.3 -0.6 -14.1Transfers between asset groups 1.8 7.6 -10.2 -0.8Historical cost, Dec 31 20.9 92.0 123.5 14.3 250.7Accumulated depreciation and 0.0 31.6 58.8 -0.7 89.7amortization, Jan 1Translation differences 0.4 4.1 0.0 4.5Depreciation 4.5 15.8 20.3Decreases -3.3 -7.0 0.1 -10.2Accumulated depreciation and 0.0 33.2 71.7 -0.6 104.4impairment, Dec 31Net book value, Dec 31 20.9 58.8 51.7 14.9 146.32021Machinery andConstruction EUR million Land and water BuildingsTotalequipmentin progressHistorical cost, Jan 1 21.0 89.2 111.6 6.8 228.6Translation differences 0.4 1.9 5.4 0.2 7.8Additions 2.1 8.2 10.8 21.1Decreases -0.1 -1.1 -12.0 1.3 -11.8Transfer to assets held for sale -0.3 -1.6 -9.3 -11.2Transfers between asset groups 1.4 7.3 -8.8 0.0Historical cost, Dec 31 21.0 91.9 111.3 10.4 234.6Accumulated depreciation and 0.0 27.5 52.7 -0.7 79.5amortization, Jan 1Translation differences 0.5 4.7 0.0 5.1Depreciation 5.2 16.9 22.2Impairment 0.0 0.0Decreases -0.9 -10.0 -10.9Transfer to assets held for sale -0.8 -5.4 -6.2Accumulated depreciation and 0.0 31.6 58.8 -0.7 89.7impairment, Dec 31Net book value, Dec 31 21.0 60.4 52.5 11.1 144.9Accounting principlesProperty, plant, and equipment are stated at historical cost less accumulated depreciation and any accumulated impairment losses, if applicable. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.Depreciation is charged to the income statement on a straight-line basis over the estimated useful lives of the assets. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows: \u2022 Buildings 20\u201340 years\u2022 Machinery and equipment 3\u201310 years\u2022 Land and water No depreciationGains and losses on sales and disposals of property, plant, and equipment are presented in other operating income and other operating expenses.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-326-3": {
"value": "Accounting principlesProperty, plant, and equipment are stated at historical cost less accumulated depreciation and any accumulated impairment losses, if applicable. Those borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset.Depreciation is charged to the income statement on a straight-line basis over the estimated useful lives of the assets. Residual values and expected useful lives are reassessed at least at each financial year-end and, if necessary, are adjusted to reflect changes in the expected future economic benefits. The estimated useful lives are as follows: \u2022 Buildings 20\u201340 years\u2022 Machinery and equipment 3\u201310 years\u2022 Land and water No depreciationGains and losses on sales and disposals of property, plant, and equipment are presented in other operating income and other operating expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-330-1": {
"value": "3.4 Right-of-use assetsFiskars Group has lease contracts for real estate, machinery, vehicles and other equipment used in its operations. Real estate leases generally have lease terms between 3 and 15 years, while other assets generally have lease terms between 3 and 5 years. Several lease contracts include extension and termination options and variable lease payments. The Group also has certain leases of machinery with lease terms of 12 months or less and leases of office equipment with low value. Expenses arising from short-term leases and leases of low values assets can be found from Note 2.3 Total Expenses. Lease liabilities are described in Note 5.5 Lease liabilities.2022EUR million Real estate Other TotalBook value, Jan 1 103.9 2.9 106.8Translation differences 0.5 0.0 0.5Additions 25.9 3.0 28.9Depreciations -22.2 -2.1 -24.3Decreases -1.2 -0.2 -1.3Book value, Dec 31 107.0 3.6 110.62021EUR million Real estate Other TotalBook value, Jan 1 86.9 3.3 90.2Translation differences 2.0 0.1 2.1Additions 42.2 1.8 44.0Depreciations -23.0 -2.1 -25.1Decreases -4.1 -0.2 -4.3Book value, Dec 31 103.9 2.9 106.85.5 Lease liabilitiesFiskars Group has lease contracts for various items of real estate, machinery, vehicles and other equipment used in its operations. Right-of-use assets are presented in Note 3.3. Right-of-use assets. Amounts recognised in Consolidated Income Statement are presented in Note 2.3 Total expenses and in Note 2.6. Financial income and expenses.EUR million 2022 2021Book value, Jan 1 111.5 94.5Translation differences 0.7 2.2Additions 28.9 44.0Accretion of interest 2.0 1.9Payments -26.2 -26.7Decreases -1.4 -4.5Book value, Dec 31 115.5 111.5Current lease liabilities 22.5 22.6Non-current lease liabilities 92.9 88.9Maturity of lease liabilitiesEUR million 2022 2021Less than one year 25.3 24.4Between one and five years 68.4 65.6More than five years 32.0 29.5Minimum lease payments, total 125.7 119.4Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.RIGHT-OF-USE ASSETSFiskars Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are initially measured at cost, including the initial measurement of lease liabilities, any initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Subsequently right-of-use asset is measured at cost less any accumulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the lease term, generally as follows:Real estate3\u201315 yearsOther assets3\u20135 yearsSHORT-TERM LEASES AND LEASES OF LOW-VALUE ASSETSThe Group applies the short-term lease recognition exemption to its short-term leases i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term.Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.LEASE LIABILITIESAt the commencement date of the lease, Fiskars Group recognizes lease liabilities measured at the present value of future unpaid lease payments. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group, and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date as typically the interest rate implicit in the lease is not readily available. Subsequently lease liability is measured using the effective interest rate method, and the carrying amount of lease liability is increased with the interest on the lease liability, reduced with the amount of lease payments made, and adjusted to reflect any reassessments or lease modifications made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-331-3": {
"value": "Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.RIGHT-OF-USE ASSETSFiskars Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are initially measured at cost, including the initial measurement of lease liabilities, any initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Subsequently right-of-use asset is measured at cost less any accumulated depreciation and impairment losses, adjusted for any remeasurement of lease liabilities. Right-of-use assets are depreciated on a straight-line basis over the lease term, generally as follows:Real estate3\u201315 yearsOther assets3\u20135 yearsSHORT-TERM LEASES AND LEASES OF LOW-VALUE ASSETSThe Group applies the short-term lease recognition exemption to its short-term leases i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. It also applies the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on short-term leases and leases of low value assets are recognized as expense on a straight-line basis over the lease term.Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.LEASE LIABILITIESAt the commencement date of the lease, Fiskars Group recognizes lease liabilities measured at the present value of future unpaid lease payments. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group, and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date as typically the interest rate implicit in the lease is not readily available. Subsequently lease liability is measured using the effective interest rate method, and the carrying amount of lease liability is increased with the interest on the lease liability, reduced with the amount of lease payments made, and adjusted to reflect any reassessments or lease modifications made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-367-1": {
"value": "3.5 Biological assetsEUR million 2022 2021Fair value, Jan 1 45.4 44.1Increase due to growth 2.2 1.9Decrease due to harvested timber -1.1 -1.1Change in fair value 0.0 0.5Fair value, Dec 31 46.5 45.4Fiskars Group has around 11,000 hectares of productive forest land in Finland. Biological assets consist of growing stock. The harvested amount in 332022 was approximately 42.000 m (2021: 37.000 m).Accounting principlesBiological assets are measured at their fair value less costs to sell them. Biological assets consist of growing stock of Group\u2019s forest assets in Finland. The change in fair value resulting from both growth and change in the market value of standing timber is presented as a separate line item in the Consolidated Income Statement after operating profit (EBIT). The revenue from the sale of standing timber is presented in the Consolidated Income Statement within the operating profit.There are no existing active markets for forest assets. Therefore, the biological asset valuation is made by using the discounted future cash flows. Cash flows are based on forest management plan taking into account forestry costs and harvesting incomes from one growth cycle. For valuing harvesting incomes, Fiskars applies a three-year rolling average price of standing timber, based on the statistics provided by the Natural Resources Institute Finland, adjusted with company specific price components.The fair value measurements of biological assets are categorized within level 3 of the fair value hierarchy.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBiologicalAssetsAndGovernmentGrantsForAgriculturalActivityExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-368-3": {
"value": "Accounting principlesBiological assets are measured at their fair value less costs to sell them. Biological assets consist of growing stock of Group\u2019s forest assets in Finland. The change in fair value resulting from both growth and change in the market value of standing timber is presented as a separate line item in the Consolidated Income Statement after operating profit (EBIT). The revenue from the sale of standing timber is presented in the Consolidated Income Statement within the operating profit.There are no existing active markets for forest assets. Therefore, the biological asset valuation is made by using the discounted future cash flows. Cash flows are based on forest management plan taking into account forestry costs and harvesting incomes from one growth cycle. For valuing harvesting incomes, Fiskars applies a three-year rolling average price of standing timber, based on the statistics provided by the Natural Resources Institute Finland, adjusted with company specific price components.The fair value measurements of biological assets are categorized within level 3 of the fair value hierarchy.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBiologicalAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-390-1": {
"value": "3.6 Investment propertyEUR million 2022 2021Historical cost, Jan 1 11.7 11.7Translation differences 0.0 0.0Additions 1.8 0.0Decreases 0.0Transfers from tangible assets 0.8Historical cost, Dec 31 14.3 11.7Accumulated depreciation, Jan 1 8.1 7.8Translation differences 0.0 0.0Depreciation and impairment 0.4 0.4Decreases 0.0Accumulated depreciation and 8.6 8.1impairment, Dec 31Net book value, Dec 31 5.8 3.6Investment Property comprises the parent company\u2019s buildings and zoned and unbuilt lots for detached houses in Fiskars Village, Finland.Fair valueProperties in Fiskars Village are unique in their cultural and historical values. Therefore it is not possible to determine a comparable market value on those properties. The book value of these properties, located in Finland, were EUR 5.8 million in 2022 (2021: 3.6). Accounting principlesThe properties that are not used in the Group\u2019s operations or which are held to earn rental income or increase in value are classified as investment property. These properties are measured at cost less accumulated depreciation and impairment. Investment properties are depreciated over 20\u201340 years on a straight-line basis. Land is not depreciated.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-391-5": {
"value": "Accounting principlesThe properties that are not used in the Group\u2019s operations or which are held to earn rental income or increase in value are classified as investment property. These properties are measured at cost less accumulated depreciation and impairment. Investment properties are depreciated over 20\u201340 years on a straight-line basis. Land is not depreciated.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-402-1": {
"value": "4.1 InventoriesEUR million 2022 2021Raw materials and consumables 36.7 31.8Work in progress 22.2 18.2Finished goods 333.6 286.0Advance payments 1.2 0.3Transfer to assets held for sale -35.0Gross value of inventories 393.7 301.3The amount of write-down of -29.0 -29.9inventoriesTransfer to assets held for sale 1.6Total, Dec 31 364.7 272.9Change in write-down for obsolete and slow-moving inventories of EUR 0.6 (2021: 8.0) million was recognised during financial period.Accounting principlesInventories are carried at the lower of cost and net realizable value. Cost is determined using the first-in first-out (FIFO) method. The cost of finished goods and work-in-progress comprise direct purchase and manufacturing costs, other direct costs and a proportion of the related production overheads based on normal operating capacity. Net realizable value is the estimated amount that can be realized from the sale in normal course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Inventories are presented net of write-down recognized for obsolete and slow-moving inventories.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-403-3": {
"value": "Accounting principlesInventories are carried at the lower of cost and net realizable value. Cost is determined using the first-in first-out (FIFO) method. The cost of finished goods and work-in-progress comprise direct purchase and manufacturing costs, other direct costs and a proportion of the related production overheads based on normal operating capacity. Net realizable value is the estimated amount that can be realized from the sale in normal course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Inventories are presented net of write-down recognized for obsolete and slow-moving inventories.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-436-2": {
"value": "Allowance for expected credit lossesEUR million 2022 2021Allowance for expected credit losses, -5.9 -5.5Jan 1Translation differences -0.2Additions -3.1 -3.2Deductions 3.2 2.7Recognised impairment losses 1.2 0.2Recovery of doubtful receivables 0.0 -0.1Allowance for expected credit losses, -4.9 -5.9Dec 31",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-417-1": {
"value": "4.2 Trade and other receivablesEUR million 2022 2021Trade receivables 170.5 206.3Derivatives 5.8 0.6Other receivables 5.0 4.0Prepaid expenses and accrued income 38.0 19.0Total, Dec 31 219.2 230.0Aging of trade receivablesEUR million 2022 2021Not fallen due 143.4 179.01\u201330 days past due 21.4 17.331\u201360 days past due 4.8 5.761\u201390 days past due 1.7 2.491\u2013120 days past due 0.8 1.3Over 120 days past due 3.3 6.5Allowance for expected credit losses, -4.9 -5.9Dec 31Total, Dec 31 170.5 206.3Trade receivables\u2019 payment terms vary, but average is 45 days. Trade receivables in currenciesEUR million 2022 2021US Dollars (USD) 61.4 86.8Euros (EUR) 37.7 34.8Danish Krones (DKK) 19.1 24.8Swedish Kronas (SEK) 10.5 10.4Japanese Yens (JPY) 8.1 8.2Norwegian Krones (NOK) 8.0 7.2Canadian Dollars (CAD) 5.5 4.2Australian Dollars (AUD) 5.0 5.8Other currencies 15.2 24.1Total, Dec 31 170.5 206.3Trade receivables are widely spread geographically. The biggest customers are major retailers with solid credit ratings. Credit loss risks are estimated to be moderate. The maximum exposure to credit risk is the carrying amount of the trade receivables. The credit risk is described in more detailed in Note 5.2.Allowance for expected credit lossesEUR million 2022 2021Allowance for expected credit losses, -5.9 -5.5Jan 1Translation differences -0.2Additions -3.1 -3.2Deductions 3.2 2.7Recognised impairment losses 1.2 0.2Recovery of doubtful receivables 0.0 -0.1Allowance for expected credit losses, -4.9 -5.9Dec 31Accounting principlesTrade receivables are measured at amortized cost. According to the simplified impairment model under IFRS 9, an allowance amounting to lifetime expected credit losses is recognized at first reporting date. To measure the lifetime expected credit losses, trade receivables have been grouped based on aging categories. An allowance for doubtful receivables is measured based on historical loss rates adjusted by forward looking estimates and individual assessment. The inputs used in the model are updated on a regular basis. Impairment is recognized as an expense in Other operating expenses. If an amount previously recognized to Consolidated Income Statement is subsequently settled, it is recognized as a reduction to Other operating expenses. ",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-418-5": {
"value": "Accounting principlesTrade receivables are measured at amortized cost. According to the simplified impairment model under IFRS 9, an allowance amounting to lifetime expected credit losses is recognized at first reporting date. To measure the lifetime expected credit losses, trade receivables have been grouped based on aging categories. An allowance for doubtful receivables is measured based on historical loss rates adjusted by forward looking estimates and individual assessment. The inputs used in the model are updated on a regular basis. Impairment is recognized as an expense in Other operating expenses. If an amount previously recognized to Consolidated Income Statement is subsequently settled, it is recognized as a reduction to Other operating expenses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-418-6": {
"value": "Accounting principlesTrade receivables are measured at amortized cost. According to the simplified impairment model under IFRS 9, an allowance amounting to lifetime expected credit losses is recognized at first reporting date. To measure the lifetime expected credit losses, trade receivables have been grouped based on aging categories. An allowance for doubtful receivables is measured based on historical loss rates adjusted by forward looking estimates and individual assessment. The inputs used in the model are updated on a regular basis. Impairment is recognized as an expense in Other operating expenses. If an amount previously recognized to Consolidated Income Statement is subsequently settled, it is recognized as a reduction to Other operating expenses. ",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-433-2": {
"value": "EUR million 2022 2021Trade receivables 170.5 206.3Derivatives 5.8 0.6Other receivables 5.0 4.0Prepaid expenses and accrued income 38.0 19.0Total, Dec 31 219.2 230.0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-433-3": {
"value": "EUR million 2022 2021Trade receivables 170.5 206.3Derivatives 5.8 0.6Other receivables 5.0 4.0Prepaid expenses and accrued income 38.0 19.0Total, Dec 31 219.2 230.0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-433-4": {
"value": "EUR million 2022 2021Trade receivables 170.5 206.3Derivatives 5.8 0.6Other receivables 5.0 4.0Prepaid expenses and accrued income 38.0 19.0Total, Dec 31 219.2 230.0",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-437-1": {
"value": "4.3 Trade and other payablesEUR million 2022 2021Trade payables 69.2 139.3Other non-interest-bearing payables 39.3 31.0Accrued expenses and deferred incomeInterests 3.2 0.9Wages, salaries and social costs 35.4 48.3Contract liabilities 47.3 72.8Other 55.7 78.2Total, Dec 31 250.1 370.4Contract liabilities includes for example accrued discounts, rebates, customer program credits and other revenue related adjustments. Other accrued expenses includes accrued materials and supplies, amongst other.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-437-2": {
"value": "4.3 Trade and other payablesEUR million 2022 2021Trade payables 69.2 139.3Other non-interest-bearing payables 39.3 31.0Accrued expenses and deferred incomeInterests 3.2 0.9Wages, salaries and social costs 35.4 48.3Contract liabilities 47.3 72.8Other 55.7 78.2Total, Dec 31 250.1 370.4Contract liabilities includes for example accrued discounts, rebates, customer program credits and other revenue related adjustments. Other accrued expenses includes accrued materials and supplies, amongst other.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-437-3": {
"value": "4.3 Trade and other payablesEUR million 2022 2021Trade payables 69.2 139.3Other non-interest-bearing payables 39.3 31.0Accrued expenses and deferred incomeInterests 3.2 0.9Wages, salaries and social costs 35.4 48.3Contract liabilities 47.3 72.8Other 55.7 78.2Total, Dec 31 250.1 370.4Contract liabilities includes for example accrued discounts, rebates, customer program credits and other revenue related adjustments. Other accrued expenses includes accrued materials and supplies, amongst other.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-437-4": {
"value": "4.3 Trade and other payablesEUR million 2022 2021Trade payables 69.2 139.3Other non-interest-bearing payables 39.3 31.0Accrued expenses and deferred incomeInterests 3.2 0.9Wages, salaries and social costs 35.4 48.3Contract liabilities 47.3 72.8Other 55.7 78.2Total, Dec 31 250.1 370.4Contract liabilities includes for example accrued discounts, rebates, customer program credits and other revenue related adjustments. Other accrued expenses includes accrued materials and supplies, amongst other.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-437-5": {
"value": "4.3 Trade and other payablesEUR million 2022 2021Trade payables 69.2 139.3Other non-interest-bearing payables 39.3 31.0Accrued expenses and deferred incomeInterests 3.2 0.9Wages, salaries and social costs 35.4 48.3Contract liabilities 47.3 72.8Other 55.7 78.2Total, Dec 31 250.1 370.4Contract liabilities includes for example accrued discounts, rebates, customer program credits and other revenue related adjustments. Other accrued expenses includes accrued materials and supplies, amongst other.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-439-3": {
"value": "Accounting principlesGroup companies have various pension plans in accordance with local conditions and practices in the countries in which they operate. The plans are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan the group pays fixed contributions into a separate entity. If the entity does not hold sufficient assets to pay all employees the benefits in question, the Group will have no legal or constructive obligation to pay further contributions. All other plans not meeting the above criteria are classified as defined benefit plans. Most of the plans that group companies have are classified as defined contribution plans and related contributions are charged to the income statement in the year in which the payment obligation has arisen.The costs for defined benefit pension plans are calculated and recognized under the terms of the plan based on actuarial calculations. Pension costs are recognized as expenses over the employees\u2019 service period. The pension obligation is measured as the present value of the estimated future contributions deducted by the fair value of plan assets at the end of the reporting period. Changes in the estimates in the actuarial calculations may influence the reported pension obligations and pension costs. Actuarial gains and losses are recognized in other comprehensive income (OCI).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-446-1": {
"value": "4.5 ProvisionsWarranty provisions relate to products sold and are reviewed and adjusted regularly to reflect the estimated cash outflows to settle the warranty claims. Other provisions include, among others, provisions for legal expenses and estimated costs for refurnishment of premises.2022 2021 Non-current provisionsNon-current provisionsWarranty Restructuring Other Warranty Restructuring Other EUR millionTotalEUR millionTotalprovisionprovisionprovisionsprovisionprovisionprovisionsProvisions, Jan 1 0.5 0.1 2.8 3.4Provisions, Jan 1 0.5 0.1 3.0 3.6Translation differences -0.0 -0.0 0.0 0.0Translation differences 0.0 -0.0 -0.1 -0.1Additions 0.2 0.2Additions 0.0 0.0Used provisions -0.7 -0.7Used provisions -0.0 -0.0Reversals -0.1 -0.5 -0.5Change in estimates -0.0 0.0 0.0Provisions, Dec 31 0.5 -0.0 1.9 2.4Reversals -0.1 -0.1Provisions, Dec 31 0.5 0.1 2.8 3.4Current provisionsWarranty Restructuring Other Current provisionsEUR millionTotalprovisionprovisionprovisionsWarranty Restructuring Other EUR millionTotalProvisions, Jan 1 2.3 1.0 11.4 14.7provisionprovisionprovisionsTranslation differences 0.1 0.1 0.2Provisions, Jan 1 2.2 0.6 2.9 5.7Additions -0.1 1.2 1.1Translation differences 0.1 0.0 0.1 0.2Used provisions -0.6 -7.9 -8.5Additions -0.0 0.7 8.5 9.2Reversals -0.1 -3.2 -3.3Used provisions -0.0 -0.3 -0.0 -0.3Transfer from long-term Change in estimates -0.0 -0.0 -0,00.6 0.6to short-termReversals -0.0 -0.0Provisions, Dec 31 2.4 0.2 2.2 4.8Provisions, Dec 31 2.3 1.0 11.4 14.7Accounting principlesA provision is recognized when the Group as a result of a past event has a present legal or constructive obligation, it is probable that the obligation will be realized and a reliable estimate can be made of the amount of the obligation. A provision for restructuring is recognized when a detailed formal plan has been prepared and when there is a valid expectation relating those affected that the plan will be carried out. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. If it is possible to receive compensation for a part of the obligation from a third party, the compensation is recognized as a separate asset, but only when receipt of the compensation is virtually certain.Fiskars Group may be a party to lawsuits and legal processes concerning the Group\u2019s business operations. A related provision is recognized in the financial statements when the amount of the expenditure can be estimated reliably and it is more likely than not that they will be realized. Otherwise these contingent liabilities are disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-447-3": {
"value": "Accounting principlesA provision is recognized when the Group as a result of a past event has a present legal or constructive obligation, it is probable that the obligation will be realized and a reliable estimate can be made of the amount of the obligation. A provision for restructuring is recognized when a detailed formal plan has been prepared and when there is a valid expectation relating those affected that the plan will be carried out. The amount recognized as a provision is the best estimate of the expenditure required to settle the present obligation at the end of the reporting period. If it is possible to receive compensation for a part of the obligation from a third party, the compensation is recognized as a separate asset, but only when receipt of the compensation is virtually certain.Fiskars Group may be a party to lawsuits and legal processes concerning the Group\u2019s business operations. A related provision is recognized in the financial statements when the amount of the expenditure can be estimated reliably and it is more likely than not that they will be realized. Otherwise these contingent liabilities are disclosed in the notes.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-469-1": {
"value": "5.1 Share capital2022202120222021pcs 1000pcs 1000EUR millionEUR millionShare capitalJan 1 81,905.2 81,905.2 7 7.5 7 7.5Change -905.2Share capital, Dec 31 81,000.0 81,905.2 7 7. 5 77.5Treasury sharesJan 1 433.7 433.7 7. 2 7.2Change -14.2 16.2Cancellation of treasury shares -16.6Treasury shares, Dec 31 419.5 433.7 6.7 7.2Number of shares and votesDec 31, 2022 Dec 31, 2021Number of Number of Share capital Number of Number of Share capital sharesvotesEURsharesvotesEURShares (1 vote/share) 81,000,000 81,000,000 77,510,200 81,905,242 81,905,242 77,510,200Total 81,000,000 81,000,000 77,510,200 81,905,242 81,905,242 77,510,200Fiskars Corporation has a single class of shares. Shares have no nominal value.Board of Directors of Fiskars Corporation decided to cancel a total of 905,242 treasury shares. The cancellation of the treasury shares has been registered with the Trade Register maintained by the Finnish Patent and Registration Office on November 2, 2022.After the cancellation, the total number of shares in Fiskars Group is 81,000,000 and the total number of votes attached to the shares is 81,000,000. After the cancellation Fiskars holds a total of 419,484 treasury shares. The cancellation of the shares has no effect on the share capital of Fiskars.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-469-2": {
"value": "5.1 Share capital2022202120222021pcs 1000pcs 1000EUR millionEUR millionShare capitalJan 1 81,905.2 81,905.2 7 7.5 7 7.5Change -905.2Share capital, Dec 31 81,000.0 81,905.2 7 7. 5 77.5Treasury sharesJan 1 433.7 433.7 7. 2 7.2Change -14.2 16.2Cancellation of treasury shares -16.6Treasury shares, Dec 31 419.5 433.7 6.7 7.2Number of shares and votesDec 31, 2022 Dec 31, 2021Number of Number of Share capital Number of Number of Share capital sharesvotesEURsharesvotesEURShares (1 vote/share) 81,000,000 81,000,000 77,510,200 81,905,242 81,905,242 77,510,200Total 81,000,000 81,000,000 77,510,200 81,905,242 81,905,242 77,510,200Fiskars Corporation has a single class of shares. Shares have no nominal value.Board of Directors of Fiskars Corporation decided to cancel a total of 905,242 treasury shares. The cancellation of the treasury shares has been registered with the Trade Register maintained by the Finnish Patent and Registration Office on November 2, 2022.After the cancellation, the total number of shares in Fiskars Group is 81,000,000 and the total number of votes attached to the shares is 81,000,000. After the cancellation Fiskars holds a total of 419,484 treasury shares. The cancellation of the shares has no effect on the share capital of Fiskars.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-470-1": {
"value": "5.2 Financial risk managementFinancial risks are managed centrally by the Group Treasury in accordance with the Treasury Policy approved by the Board of Directors.Currency riskCurrency risk refers to changes in income statement, cash flow, balance sheet and competitiveness of Fiskars Group due to changes in exchange rates. Fiskars Group\u2019s transaction and translation positions are managed separately.Transaction riskTransaction risk arises from foreign currency denominated cash flows, and is measured as net of commercial and financial receivables and payables denominated in foreign currencies. The objective of managing the transaction risk is to reduce the impact of changes in exchange rates on the profit and cash flow of the Group. Group companies are responsible for managing the currency risks associated with their commercial cash flows and to hedge their exposure using currency forwards entered into with the Group Treasury. The net position is hedged with currency derivatives in accordance with the Treasury policy approved by the Board of Directors.The most significant risks relate to appreciation of USD, THB and IDR, and to depreciation of SEK, CAD and AUD. Fiskars Group is exposed to rate changes in the local currencies of its suppliers, of which the most important is CNY.Fiskars Group does not apply hedge accounting on foreign exchange derivatives as defined in IFRS 9. All gains and losses resulting from currency derivatives are booked in the income statement. Had hedge accounting been applied on currency derivatives, Fiskars Group\u2019s consolidated profit before tax for 2022 would have been EUR 1.3 million lower (3.2 million lower in 2021).Translation riskTranslation risk refers to the impact of changes in exchange rates on the consolidated income statement, consolidated statement of cash flows and consolidated balance sheet. These changes can also impact key indicators, such as net debt/EBITDA (LTM), equity ratio and gearing. Translation risk is not hedged. Interest rate riskExposure of the values of cash flows, assets and liabilities to interest rate fluctuations gives rise to interest rate risk. In Fiskars Group it is measured by the average interest rate reset period of financial liabilities excluding lease liabilities. The average reset period reflects the time it takes on average for the change in interest rates to impact the interest costs of the debt portfolio. The risk is quantified in monetary terms as the change in interest costs duringthe observation period caused by a permanent one percentage point rise in interest rates. The shorter the average reset period, the more unpredictable are the interest costs.Derivatives may be used in the management of interest rate risks, and hedge accounting is applied on interest derivatives. The objective is to maintain the average reset period within the limits of 6 to 48 months as set out in the Treasury policy. As of December 31, 2022 the Group had interest rate swapsin the amount of EUR 50.0 million outstanding (2021: EUR 0.0 million). The Group\u2019s interest-bearing net debt excluding leasing liabilities as of December 31, 2022 was EUR 209.8 million (2021: 32.9). Of the debt 85% (23%) was linked to variable interest rates. The average interest rate reset period of the debt was 8 months (2021: 8).Sensitivity of interest expenses on changes in market rates has been calculated by assuming permanent one percentage point increase in market rates and assuming no change in net debt during the year. The calculated impact on the consolidated result before tax would be EUR -1.6 million (2022: 0.0 million) in 2023.Liquidity and refinancing riskLiquidity risk refers to the risk of the Group\u2019s financial assets and sources of funding proving insufficient to fund its business operations or the risk of a situation where arranging such funding would result insubstantial additional costs. The objective of liquidity risk management is to maintain an optimal amount of liquidity to fund the business operations of the Group at all times while minimizing interest costs. Liquidity is considered to be the sum of cash and cash equivalents and available committed credit lines.Refinancing risk refers to exposure to unavailability or prohibitively expensive price of financing at the time of maturity of expiring financing lines. The objective of refinancing risk management is to minimize the risk by diversifying the maturity structure of the debt and loan facility portfolio.Fiskars Group had EUR 250.0 (2021:280.0) million of long-term committed credit facilities and uncommitted overdraft facilities of EUR 47.0 (44.0) million. A commercial paper program of 400.0 million was available with Nordic banks. Of the long-term committed credit facilities EUR 50.0 million was in use (0.0), and of the commercial paper program EUR 145.6 (0.0) million was in use.Commodity riskFiskars may use derivatives to hedge its exposure to commodity price fluctuations where appropriate. At the end of the year, the Group held no outstanding commodity derivative contracts.Credit riskGroup Treasury is responsible for evaluating and monitoring financial counterparty risk. The Group minimizes this risk by limiting its counterparties to creditworthy banks and financial institutions and by working within defined counterparty limits. Sales function is responsible for monitoring customer credit risks. The Group\u2019s clientele is extensive and even the largest customers represent less than 10% of the outstanding receivables. As of the end of the year, the Group\u2019s trade receivables totaled EUR 170.5 million (2021: 206.3). The financial statements include provisions for bad debt related to trade receivables totaling EUR 4.9 million (2021: 5.9).Management of capitalFiskars is not subject to any externally imposed capital requirements (other than possible local company law requirements effective in the jurisdictions where Fiskars Group companies are active).The Group\u2019s objectives when managing capital are:to safeguard the Group\u2019s capacity to fund itsoperations and take care of its obligationsto maintain a balanced business and investmentportfolio that provides return both on short andlong term to its shareholdersto maintain possibilities to act on potentialinvestment opportunitiesto maintain an equity ratio that exceeds 40%to maintain a net debt to last 12 months\u2019 EBITDAratio of maximum 2.5",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-470-2": {
"value": "5.2 Financial risk managementFinancial risks are managed centrally by the Group Treasury in accordance with the Treasury Policy approved by the Board of Directors.Currency riskCurrency risk refers to changes in income statement, cash flow, balance sheet and competitiveness of Fiskars Group due to changes in exchange rates. Fiskars Group\u2019s transaction and translation positions are managed separately.Transaction riskTransaction risk arises from foreign currency denominated cash flows, and is measured as net of commercial and financial receivables and payables denominated in foreign currencies. The objective of managing the transaction risk is to reduce the impact of changes in exchange rates on the profit and cash flow of the Group. Group companies are responsible for managing the currency risks associated with their commercial cash flows and to hedge their exposure using currency forwards entered into with the Group Treasury. The net position is hedged with currency derivatives in accordance with the Treasury policy approved by the Board of Directors.The most significant risks relate to appreciation of USD, THB and IDR, and to depreciation of SEK, CAD and AUD. Fiskars Group is exposed to rate changes in the local currencies of its suppliers, of which the most important is CNY.Fiskars Group does not apply hedge accounting on foreign exchange derivatives as defined in IFRS 9. All gains and losses resulting from currency derivatives are booked in the income statement. Had hedge accounting been applied on currency derivatives, Fiskars Group\u2019s consolidated profit before tax for 2022 would have been EUR 1.3 million lower (3.2 million lower in 2021).Translation riskTranslation risk refers to the impact of changes in exchange rates on the consolidated income statement, consolidated statement of cash flows and consolidated balance sheet. These changes can also impact key indicators, such as net debt/EBITDA (LTM), equity ratio and gearing. Translation risk is not hedged. Interest rate riskExposure of the values of cash flows, assets and liabilities to interest rate fluctuations gives rise to interest rate risk. In Fiskars Group it is measured by the average interest rate reset period of financial liabilities excluding lease liabilities. The average reset period reflects the time it takes on average for the change in interest rates to impact the interest costs of the debt portfolio. The risk is quantified in monetary terms as the change in interest costs duringthe observation period caused by a permanent one percentage point rise in interest rates. The shorter the average reset period, the more unpredictable are the interest costs.Derivatives may be used in the management of interest rate risks, and hedge accounting is applied on interest derivatives. The objective is to maintain the average reset period within the limits of 6 to 48 months as set out in the Treasury policy. As of December 31, 2022 the Group had interest rate swapsin the amount of EUR 50.0 million outstanding (2021: EUR 0.0 million). The Group\u2019s interest-bearing net debt excluding leasing liabilities as of December 31, 2022 was EUR 209.8 million (2021: 32.9). Of the debt 85% (23%) was linked to variable interest rates. The average interest rate reset period of the debt was 8 months (2021: 8).Sensitivity of interest expenses on changes in market rates has been calculated by assuming permanent one percentage point increase in market rates and assuming no change in net debt during the year. The calculated impact on the consolidated result before tax would be EUR -1.6 million (2022: 0.0 million) in 2023.Commodity riskFiskars may use derivatives to hedge its exposure to commodity price fluctuations where appropriate. At the end of the year, the Group held no outstanding commodity derivative contracts.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-549-2": {
"value": "Liquidity and refinancing riskLiquidity risk refers to the risk of the Group\u2019s financial assets and sources of funding proving insufficient to fund its business operations or the risk of a situation where arranging such funding would result insubstantial additional costs. The objective of liquidity risk management is to maintain an optimal amount of liquidity to fund the business operations of the Group at all times while minimizing interest costs. Liquidity is considered to be the sum of cash and cash equivalents and available committed credit lines.Refinancing risk refers to exposure to unavailability or prohibitively expensive price of financing at the time of maturity of expiring financing lines. The objective of refinancing risk management is to minimize the risk by diversifying the maturity structure of the debt and loan facility portfolio.Fiskars Group had EUR 250.0 (2021:280.0) million of long-term committed credit facilities and uncommitted overdraft facilities of EUR 47.0 (44.0) million. A commercial paper program of 400.0 million was available with Nordic banks. Of the long-term committed credit facilities EUR 50.0 million was in use (0.0), and of the commercial paper program EUR 145.6 (0.0) million was in use.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-579-2": {
"value": "Credit riskGroup Treasury is responsible for evaluating and monitoring financial counterparty risk. The Group minimizes this risk by limiting its counterparties to creditworthy banks and financial institutions and by working within defined counterparty limits. Sales function is responsible for monitoring customer credit risks. The Group\u2019s clientele is extensive and even the largest customers represent less than 10% of the outstanding receivables. As of the end of the year, the Group\u2019s trade receivables totaled EUR 170.5 million (2021: 206.3). The financial statements include provisions for bad debt related to trade receivables totaling EUR 4.9 million (2021: 5.9).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-593-2": {
"value": "Management of capitalFiskars is not subject to any externally imposed capital requirements (other than possible local company law requirements effective in the jurisdictions where Fiskars Group companies are active).The Group\u2019s objectives when managing capital are:to safeguard the Group\u2019s capacity to fund itsoperations and take care of its obligationsto maintain a balanced business and investmentportfolio that provides return both on short andlong term to its shareholdersto maintain possibilities to act on potentialinvestment opportunitiesto maintain an equity ratio that exceeds 40%to maintain a net debt to last 12 months\u2019 EBITDAratio of maximum 2.5",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-610-1": {
"value": "5.3 Financial assetsAccounting principlesFINANCIAL ASSETSFiskars Group classifies its financial assets in the following categories: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, and financial assets at amortised cost. Financial assets are classified at initial recognition based on their purpose of use. For assets not at fair value through profit or loss, the directly attributable transaction costs are included in the original costs of the financial assets. All purchases or sales of financial assets are recognized or derecognized using trade date accounting. The Group derecognizes financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Fair value categories of financial instruments are explained in Note 5.4.FINANCIAL ASSETS AT AMORTISED COST Financial assets at amortised cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are not held for trading or designated as available for sale upon initial recognition. This category comprises trade receivables and other receivables. It also includes deposits to guarantee leases and other similar items presented under Other non-current assets in the Consolidated Balance Sheet. Trade and other receivables are described in more detail in Note 4.2.Loans and other receivables are measured at amortized cost. The allowance for expected credit losses is based on the risks of the individual items. Carrying amounts of receivables are adjusted to their probable value as a result of this assessment. Loans and receivables are included in current or non-current assets based on their term to maturity. Amounts expected to be recovered or settled in no more than 12 months after the end of the reporting period are included in current assets.CASH AND CASH EQUIVALENTSThe balance sheet item Cash and cash equivalents includes cash, i.e. cash in hand and deposits held at call with banks, and cash equivalents. Cash equivalents comprise highly liquid investments that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. The items included in cash equivalents have original maturities of maximum three months from the date of acquisition. Bank overdrafts are included in current interest-bearing financial liabilities. Cash and cash equivalents are measured at amortizedcost.Investments at fair value through profit or loss comprise unlisted funds. The fair value of unlisted funds is based on the market value reported by the funds (level 3). Changes in the fair value are recognized in the income statement.Other investments include listed and unlisted shares as well as non-current receivables. Listed shares havebeen recognized at their fair value based on quotationat the end of the reporting period (level 1). Unlisted shares and other investments are measured at fair value (level 3). Fair value of unlisted shares equals acquisition value.Financial assets at fair value through profit or lossLevel 3EUR million 2022 2021Book value, Jan 1 32.0 24.4Additions 0.3Decreases -4.4 -1.5TransfersChange in fair value 1.4 8.8Book value, Dec 31 29.0 32.0Other investments and other non-current assets Level 1 Level 3EUR million 2022 2021 2022 2021Book value, Jan 1 0.2 0.2 10.4 7.9Addition 2.9Decreases -0.2 -0.6 -0.4Change in fair 0.1valueBook value, Dec 31 0.2 9.8 10.4Cash and cash equivalentsEUR million 2022 2021Cash and cash equivalents 115.8 31.5Other current investmentsTotal, Dec 31 115.8 31.55.4 Financial liabilitiesNon-current interest-bearing debtReconciliation of net debt2022 2021EUR million 2022 2021Fair Carrying Fair Carrying Loans from credit institutions 325.6 65.1EUR millionvalueamountvalueamountLease liabilities 115.5 111.5Loans from credit 130.1 130.4Cash and cash equivalents -115.8 -31.5institutionsNet debt 325.3 145.0Other non-current 0.7 0.7debtTotal, Dec 31 130.1 130.4 0.7 0.7Current interest-bearing debt2022 2021Fair Carrying Fair Carrying EUR millionvalueamountvalueamountBank overdrafts 14.2 14.2Loans from credit 195.2 195.2 50.0 50.0institutionsOther 0.2 0.2Total, Dec 31 195.2 195.2 64.4 64.4Changes in liabilities arising from financing activities2022EUR million Jan 1 Lease changes Cash flows Fx difference Other Dec 31Non-current loans and borrowings 0.7 129.7 130.4Non-current lease liabilities (Note 5.5) 88.9 1.4 2.7 -0.1 92.9Current loans and borrowings 64.4 131.0 -0.2 195.2Current lease liabilities (Note 5.5) 22.6 26.7 -26.2 -2.0 1.4 22.5Total 176.6 28.1 234.5 0.5 1.4 440.92021EUR million Jan 1 Lease changes Cash flows Fx difference Other Dec 31Non-current loans and borrowings 51.2 -0.5 0.0 -50.0 0.7Non-current lease liabilities (Note 5.5) 71.8 0.0 0.0 1.5 15.5 88.9Current loans and borrowings 61.2 -47.2 0.4 50.0 64.4Current lease liabilities (Note 5.5) 22.7 39.3 -26.4 0.5 -13.6 22.6Total 206.9 39.3 -74.1 2.5 1.9 176.6Maturity of liabilitiesAs of December 31, 2022 the Group had unused committed credit facilities EUR 200.0 million (2021: 280.0) at its disposal to guarantee its liquidity. The average maturity of the credit limit agreements as of December 31, 2022 was 3 years (2021: 3.9). Maturities of long term loans are presented in the below table. Agreements concerning credit facilities and long term loans include a covenant for the solidity. Non-compliance with the covenant leads to a premature expiry of the agreements. Breach of covenant requires material deterioration of the solidity from the current. 2022EUR million 2023 2024 2025 2026 2027 Later years TotalBank overdraftsOther debt 0.2 0.2 0.4Loans from credit institutions 195.2 80.0 50.0 325.2interests 5.1 4.2 3.9 1.6 1.6 2.9 19.2Lease liabilities (Note 5.5) 19.8 16.7 15.7 13.2 10.7 29.3 105.3interests 2.8 2.2 1.7 1.3 0.8 1.4 10.2Trade payables 69.2 69.2Derivative liabilities 1.4 1.4Total, Dec 31 293.7 23.3 101.3 16.1 13.1 83.5 530.92021EUR million 2022 2023 2024 2025 2026 Later years TotalBank overdrafts 14.2 14.2Other debt 0.2 0.2 0.2 0.2 0.9Loans from credit institutions 50.0 50.0interests 0.3 0.3Lease liabilities (Note 5.5) 20.8 16.4 12.3 10.7 9.7 33.6 103.5interests 1.8 1.4 1.1 0.9 0.8 1.9 8.0Trade payables 139.1 139.1Derivative liabilities 0.2 0.0Total, Dec 31 226.3 18.0 13.6 11.9 10.5 35.5 315.9Sensitivity analysis of currency exposureThe exchange rate sensitivity analysis in accordance with IFRS 7 indicates how the profit before taxes or consolidated Group equity would be impacted by a 10% depreciation of a currency. The impact of a 10% appreciation of a currency would be approximately the opposite. The analysis of impact on profit includes internal and external foreign currency denominated financial items of the parent company in the selected currencies. Estimated commercial cash flows of the Group companies consist of net purchases and sales in foreign currencies during the subsequent year. Derivatives include transactions to hedge the estimated commercial flows. Other financial items include foreign currency denominated loans, deposits and investments. The selected currencies represent approximately 90% of the commercial net foreign currency flows. The sensitivity analysis on the consolidated Group equity illustrates translation risk related to the foreign currency denominated equity.2022 2021Impact on result before taxes Impact on result before taxesEstimated Estimated Other financial Impact on Other financial Impact on EUR millioncommercial Derivativescommercial Derivativesitemsgroup equityitemsgroup equitycash flowscash flowsAUD -1.9 2.4 -0.4 -2.0 -1.9 2.2 -0.3 -1.7CAD -2.0 2.4 -0.3 -1.6 -1.3 1.3 0.0 -1.0GBP -0.8 4.8 -4.0 -3.9 -0.9 6.3 -5.4 -3.6IDR 1.3 -1.3 0.0 0.0 1.2 -1.2 0.0 0.0JPY -1.3 2.1 -0.8 -2.3 -1.4 2.1 -0.7 -2.1SEK -2.2 0.9 1.3 -0.9 -2.3 1.1 1.2 -0.6THB 3.3 -2.7 -0.6 -1.4 3.2 -2.4 -0.8 -1.5USD 3.5 12.7 -16.2 -16.4 2.8 8.8 -11.6 -14.5Average interest rates and sensitivity analysis of interest expensesThe sensitivity of interest expenses on changes in interest rates has been presented by simulating a permanent one percentage unit rise in interest rates at the end of the reporting year. The Group\u2019s net interest bearing debt excluding financial leases as of December 31, 2022 was EUR 209.8 million (2021: 32.9) and the average interest reset period of interest-bearing debt was 8 months (2021: 8). A permanent one percentage point rise in all interest rates would increase the corporation\u2019s annual interest costs by EUR 1.6 million (2021: 0.0) assuming no change in the amount of the net debt.The table below shows the Group\u2019s net interest bearing debt, currency derivatives, average interest rates on loans and interest rate sensitivity by major currencies.2022EUR million EUR USD GBP PLN Other TotalLoans and deposits 255.0 -13.6 -1.2 -4.4 -25.8 210.0Currency derivatives -204.4 126.8 48.1 23.9 3.2 -2.3Net debt and currency derivatives 50.6 113.2 47.0 19.5 -22.6 207.7Average interest rate on loans (p.a.) 2.5%Interest rate sensitivity 0.0 1.1 0.5 0.2 -0.2 1.62021EUR million EUR USD GBP PLN Other TotalLoans and deposits 55.4 4.1 -0.2 -0.1 -26.3 32.9Currency derivatives -147.8 87.9 63.1 -35.5 31.8 -0.5Net debt and currency derivatives -92.4 92.0 62.8 -35.5 5.5 32.4Average interest rate on loans (p.a.) 0.7%Interest rate sensitivity -1.5 0.9 0.6 -0.4 0.3 0.0Fair value of financial instrumentsAccounting principlesFAIR VALUE CATEGORIESHierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed shares. Level 2 includes financial assets and liabilities measured using directly observable market inputs. All interest bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.2022EUR million Level 1 Level 2 Level 3 TotalInvestments at fair value through profit or loss 29.0 29.0Other investments 3.5 3.5Derivative assets 4.5 4.5Total assets 0.0 4.5 32.5 37.0Derivative liabilities 1.4 1.4Total liabilities 1.4 1.42021EUR million Level 1 Level 2 Level 3 TotalInvestments at fair value through profit or loss 32.0 32.0Other investments 0.2 3.5 3.7Derivative assets 0.6 0.6Total assets 0.2 0.6 35.5 36.3Derivative liabilitiesTotal liabilitiesFiskars Group has lease contracts for various items of real estate, machinery, vehicles and other equipment used in its operations. Right-of-use assets are presented in Note 3.3. Right-of-use assets. Amounts recognised in Consolidated Income Statement are presented in Note 2.3 Total expenses and in Note 2.6. Financial income and expenses.EUR million 2022 2021Book value, Jan 1 111.5 94.5Translation differences 0.7 2.2Additions 28.9 44.0Accretion of interest 2.0 1.9Payments -26.2 -26.7Decreases -1.4 -4.5Book value, Dec 31 115.5 111.5Current lease liabilities 22.5 22.6Non-current lease liabilities 92.9 88.9Maturity of lease liabilitiesEUR million 2022 2021Less than one year 25.3 24.4Between one and five years 68.4 65.6More than five years 32.0 29.5Minimum lease payments, total 125.7 119.4Accounting principlesDERIVATIVES AND HEDGE ACCOUNTINGDerivatives not designated as hedging instruments are recognized at fair value through profit and loss. Derivatives are initially valued at cost and subsequently at fair value determined at the end of each reporting period. The fair value of derivatives is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in financial items. Fiskars Group applies hedge accounting to changes in the fair value of derivatives designated, qualifying and effective as cash flow hedges. The fair value of derivatives on which hedge accounting is applied is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in equity.EUR million 2022 2021Nominal amounts of derivativesForeign exchange forwards and swaps EUR million 2022 2021Assets 4.5 0.7Derivatives, hedge accounting not Liabilities -1.4 -0.2applied:Net 3.1 0.6Foreign exchange forwards and 306.2 338.3Interest rate swapsswapsAssets 0.1Derivatives, hedge accounting applied:Net 0.1Interest rate swaps 50.0Fair value of derivativesMaturity of derivatives2022EUR million 2022 2021Derivatives, hedge accounting not EUR million 2023 2024 Later years Totalapplied:Foreign Foreign exchange forwards and exchange 3.1 0.6306.2 306.2swapsforwards and swaps Derivatives, hedge accounting applied:Interest rate 50.0Interest rate swaps 0.1swapsTotal, Dec 31 306.2 50.0 356.2Derivative agreements the Group enters into are governed by International Swaps and Derivatives 2021Association\u2019s Master Agreements (ISDA) or by EUR million 2022 2023 Later years Totalcorresponding local agreements. In case of a credit Foreign event as defined by the ISDA the other agreement exchange 338.3 338.3party may demand early termination and set-off. forwards and swaps Gross amounts of derivative assets and liabilities Total, Dec 31 338.3 338.3subject to early termination and set-off are presented in the following table.FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.Accounting principlesFINANCIAL LIABILITIES AND BORROWING COSTSFiskars Group classifies its financial liabilities in the following categories: financial liabilities at fair value through profit or loss (includes derivative liabilities) and financial liabilities measured at amortized cost. A financial liability is initially recognized at fair value, and subsequently carried at amortized cost. Derivative liabilities are measured at fair value. Financial liabilities are classified as non-current or current; the latter group comprises all those financial liabilities for which the Group does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. The Group removes a financial liability (or a part of it) from its balance sheet only when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expires.Arrangement fees related to loans and loan commitments are amortized over the expected loan term.Interest-bearing debts are valued at amortized cost. The fair values of interest-bearing debts have been calculated by discounting the cash flow of the debt by the market rate at the end of reporting period (fair value hierarchy level 2).Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.LEASE LIABILITIESAt the commencement date of the lease, Fiskars Group recognizes lease liabilities measured at the present value of future unpaid lease payments. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group, and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date as typically the interest rate implicit in the lease is not readily available. Subsequently lease liability is measured using the effective interest rate method, and the carrying amount of lease liability is increased with the interest on the lease liability, reduced with the amount of lease payments made, and adjusted to reflect any reassessments or lease modifications made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.",
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"pp-value-611-2": {
"value": "Accounting principlesFINANCIAL ASSETSFiskars Group classifies its financial assets in the following categories: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, and financial assets at amortised cost. Financial assets are classified at initial recognition based on their purpose of use. For assets not at fair value through profit or loss, the directly attributable transaction costs are included in the original costs of the financial assets. All purchases or sales of financial assets are recognized or derecognized using trade date accounting. The Group derecognizes financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Fair value categories of financial instruments are explained in Note 5.4.FINANCIAL ASSETS AT AMORTISED COST Financial assets at amortised cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are not held for trading or designated as available for sale upon initial recognition. This category comprises trade receivables and other receivables. It also includes deposits to guarantee leases and other similar items presented under Other non-current assets in the Consolidated Balance Sheet. Trade and other receivables are described in more detail in Note 4.2.Loans and other receivables are measured at amortized cost. The allowance for expected credit losses is based on the risks of the individual items. Carrying amounts of receivables are adjusted to their probable value as a result of this assessment. Loans and receivables are included in current or non-current assets based on their term to maturity. Amounts expected to be recovered or settled in no more than 12 months after the end of the reporting period are included in current assets.CASH AND CASH EQUIVALENTSThe balance sheet item Cash and cash equivalents includes cash, i.e. cash in hand and deposits held at call with banks, and cash equivalents. Cash equivalents comprise highly liquid investments that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. The items included in cash equivalents have original maturities of maximum three months from the date of acquisition. Bank overdrafts are included in current interest-bearing financial liabilities. Cash and cash equivalents are measured at amortizedcost.Investments at fair value through profit or loss comprise unlisted funds. The fair value of unlisted funds is based on the market value reported by the funds (level 3). Changes in the fair value are recognized in the income statement.Other investments include listed and unlisted shares as well as non-current receivables. Listed shares havebeen recognized at their fair value based on quotationat the end of the reporting period (level 1). Unlisted shares and other investments are measured at fair value (level 3). Fair value of unlisted shares equals acquisition value.Fair value of financial instrumentsAccounting principlesFAIR VALUE CATEGORIESHierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed shares. Level 2 includes financial assets and liabilities measured using directly observable market inputs. All interest bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.Accounting principlesTrade receivables are measured at amortized cost. According to the simplified impairment model under IFRS 9, an allowance amounting to lifetime expected credit losses is recognized at first reporting date. To measure the lifetime expected credit losses, trade receivables have been grouped based on aging categories. An allowance for doubtful receivables is measured based on historical loss rates adjusted by forward looking estimates and individual assessment. The inputs used in the model are updated on a regular basis. Impairment is recognized as an expense in Other operating expenses. If an amount previously recognized to Consolidated Income Statement is subsequently settled, it is recognized as a reduction to Other operating expenses. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.Accounting principlesFINANCIAL LIABILITIES AND BORROWING COSTSFiskars Group classifies its financial liabilities in the following categories: financial liabilities at fair value through profit or loss (includes derivative liabilities) and financial liabilities measured at amortized cost. A financial liability is initially recognized at fair value, and subsequently carried at amortized cost. Derivative liabilities are measured at fair value. Financial liabilities are classified as non-current or current; the latter group comprises all those financial liabilities for which the Group does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. The Group removes a financial liability (or a part of it) from its balance sheet only when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expires.Arrangement fees related to loans and loan commitments are amortized over the expected loan term.Interest-bearing debts are valued at amortized cost. The fair values of interest-bearing debts have been calculated by discounting the cash flow of the debt by the market rate at the end of reporting period (fair value hierarchy level 2).",
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"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
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"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-611-3": {
"value": "Accounting principlesFINANCIAL ASSETSFiskars Group classifies its financial assets in the following categories: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, and financial assets at amortised cost. Financial assets are classified at initial recognition based on their purpose of use. For assets not at fair value through profit or loss, the directly attributable transaction costs are included in the original costs of the financial assets. All purchases or sales of financial assets are recognized or derecognized using trade date accounting. The Group derecognizes financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Fair value categories of financial instruments are explained in Note 5.4.FINANCIAL ASSETS AT AMORTISED COST Financial assets at amortised cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are not held for trading or designated as available for sale upon initial recognition. This category comprises trade receivables and other receivables. It also includes deposits to guarantee leases and other similar items presented under Other non-current assets in the Consolidated Balance Sheet. Trade and other receivables are described in more detail in Note 4.2.Loans and other receivables are measured at amortized cost. The allowance for expected credit losses is based on the risks of the individual items. Carrying amounts of receivables are adjusted to their probable value as a result of this assessment. Loans and receivables are included in current or non-current assets based on their term to maturity. Amounts expected to be recovered or settled in no more than 12 months after the end of the reporting period are included in current assets.CASH AND CASH EQUIVALENTSThe balance sheet item Cash and cash equivalents includes cash, i.e. cash in hand and deposits held at call with banks, and cash equivalents. Cash equivalents comprise highly liquid investments that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. The items included in cash equivalents have original maturities of maximum three months from the date of acquisition. Bank overdrafts are included in current interest-bearing financial liabilities. Cash and cash equivalents are measured at amortizedcost.FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.",
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"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
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"pp-value-611-4": {
"value": "Accounting principlesFINANCIAL ASSETSFiskars Group classifies its financial assets in the following categories: financial assets at fair value through profit or loss, financial assets at fair value through other comprehensive income, and financial assets at amortised cost. Financial assets are classified at initial recognition based on their purpose of use. For assets not at fair value through profit or loss, the directly attributable transaction costs are included in the original costs of the financial assets. All purchases or sales of financial assets are recognized or derecognized using trade date accounting. The Group derecognizes financial assets when it has lost its right to receive the cash flows or when it has transferred substantially all the risks and rewards to an external party. Fair value categories of financial instruments are explained in Note 5.4.FINANCIAL ASSETS AT AMORTISED COST Financial assets at amortised cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are not held for trading or designated as available for sale upon initial recognition. This category comprises trade receivables and other receivables. It also includes deposits to guarantee leases and other similar items presented under Other non-current assets in the Consolidated Balance Sheet. Trade and other receivables are described in more detail in Note 4.2.Loans and other receivables are measured at amortized cost. The allowance for expected credit losses is based on the risks of the individual items. Carrying amounts of receivables are adjusted to their probable value as a result of this assessment. Loans and receivables are included in current or non-current assets based on their term to maturity. Amounts expected to be recovered or settled in no more than 12 months after the end of the reporting period are included in current assets.Accounting principlesFINANCIAL LIABILITIES AND BORROWING COSTSFiskars Group classifies its financial liabilities in the following categories: financial liabilities at fair value through profit or loss (includes derivative liabilities) and financial liabilities measured at amortized cost. A financial liability is initially recognized at fair value, and subsequently carried at amortized cost. Derivative liabilities are measured at fair value. Financial liabilities are classified as non-current or current; the latter group comprises all those financial liabilities for which the Group does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. The Group removes a financial liability (or a part of it) from its balance sheet only when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expires.Arrangement fees related to loans and loan commitments are amortized over the expected loan term.",
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"pp-value-665-4": {
"value": "CASH AND CASH EQUIVALENTSThe balance sheet item Cash and cash equivalents includes cash, i.e. cash in hand and deposits held at call with banks, and cash equivalents. Cash equivalents comprise highly liquid investments that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. The items included in cash equivalents have original maturities of maximum three months from the date of acquisition. Bank overdrafts are included in current interest-bearing financial liabilities. Cash and cash equivalents are measured at amortizedcost.Cash and cash equivalentsEUR million 2022 2021Cash and cash equivalents 115.8 31.5Other current investmentsTotal, Dec 31 115.8 31.5",
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"pp-value-665-5": {
"value": "CASH AND CASH EQUIVALENTSThe balance sheet item Cash and cash equivalents includes cash, i.e. cash in hand and deposits held at call with banks, and cash equivalents. Cash equivalents comprise highly liquid investments that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value. The items included in cash equivalents have original maturities of maximum three months from the date of acquisition. Bank overdrafts are included in current interest-bearing financial liabilities. Cash and cash equivalents are measured at amortizedcost.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-676-3": {
"value": "Investments at fair value through profit or loss comprise unlisted funds. The fair value of unlisted funds is based on the market value reported by the funds (level 3). Changes in the fair value are recognized in the income statement.Other investments include listed and unlisted shares as well as non-current receivables. Listed shares havebeen recognized at their fair value based on quotationat the end of the reporting period (level 1). Unlisted shares and other investments are measured at fair value (level 3). Fair value of unlisted shares equals acquisition value.FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory",
"language": "en",
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"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
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"pp-value-676-4": {
"value": "Investments at fair value through profit or loss comprise unlisted funds. The fair value of unlisted funds is based on the market value reported by the funds (level 3). Changes in the fair value are recognized in the income statement.Other investments include listed and unlisted shares as well as non-current receivables. Listed shares havebeen recognized at their fair value based on quotationat the end of the reporting period (level 1). Unlisted shares and other investments are measured at fair value (level 3). Fair value of unlisted shares equals acquisition value.Financial assets at fair value through profit or lossLevel 3EUR million 2022 2021Book value, Jan 1 32.0 24.4Additions 0.3Decreases -4.4 -1.5TransfersChange in fair value 1.4 8.8Book value, Dec 31 29.0 32.0Other investments and other non-current assets Level 1 Level 3EUR million 2022 2021 2022 2021Book value, Jan 1 0.2 0.2 10.4 7.9Addition 2.9Decreases -0.2 -0.6 -0.4Change in fair 0.1valueBook value, Dec 31 0.2 9.8 10.4Fair value of financial instrumentsAccounting principlesFAIR VALUE CATEGORIESHierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed shares. Level 2 includes financial assets and liabilities measured using directly observable market inputs. All interest bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.2022EUR million Level 1 Level 2 Level 3 TotalInvestments at fair value through profit or loss 29.0 29.0Other investments 3.5 3.5Derivative assets 4.5 4.5Total assets 0.0 4.5 32.5 37.0Derivative liabilities 1.4 1.4Total liabilities 1.4 1.42021EUR million Level 1 Level 2 Level 3 TotalInvestments at fair value through profit or loss 32.0 32.0Other investments 0.2 3.5 3.7Derivative assets 0.6 0.6Total assets 0.2 0.6 35.5 36.3Derivative liabilitiesTotal liabilitiesFINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.",
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},
"pp-value-676-5": {
"value": "Investments at fair value through profit or loss comprise unlisted funds. The fair value of unlisted funds is based on the market value reported by the funds (level 3). Changes in the fair value are recognized in the income statement.Other investments include listed and unlisted shares as well as non-current receivables. Listed shares havebeen recognized at their fair value based on quotationat the end of the reporting period (level 1). Unlisted shares and other investments are measured at fair value (level 3). Fair value of unlisted shares equals acquisition value.Financial assets at fair value through profit or lossLevel 3EUR million 2022 2021Book value, Jan 1 32.0 24.4Additions 0.3Decreases -4.4 -1.5TransfersChange in fair value 1.4 8.8Book value, Dec 31 29.0 32.0Other investments and other non-current assets Level 1 Level 3EUR million 2022 2021 2022 2021Book value, Jan 1 0.2 0.2 10.4 7.9Addition 2.9Decreases -0.2 -0.6 -0.4Change in fair 0.1valueBook value, Dec 31 0.2 9.8 10.4Fair value of financial instrumentsAccounting principlesFAIR VALUE CATEGORIESHierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed shares. Level 2 includes financial assets and liabilities measured using directly observable market inputs. All interest bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.2022EUR million Level 1 Level 2 Level 3 TotalInvestments at fair value through profit or loss 29.0 29.0Other investments 3.5 3.5Derivative assets 4.5 4.5Total assets 0.0 4.5 32.5 37.0Derivative liabilities 1.4 1.4Total liabilities 1.4 1.42021EUR million Level 1 Level 2 Level 3 TotalInvestments at fair value through profit or loss 32.0 32.0Other investments 0.2 3.5 3.7Derivative assets 0.6 0.6Total assets 0.2 0.6 35.5 36.3Derivative liabilitiesTotal liabilities",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-692-6": {
"value": "Accounting principlesFINANCIAL LIABILITIES AND BORROWING COSTSFiskars Group classifies its financial liabilities in the following categories: financial liabilities at fair value through profit or loss (includes derivative liabilities) and financial liabilities measured at amortized cost. A financial liability is initially recognized at fair value, and subsequently carried at amortized cost. Derivative liabilities are measured at fair value. Financial liabilities are classified as non-current or current; the latter group comprises all those financial liabilities for which the Group does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. The Group removes a financial liability (or a part of it) from its balance sheet only when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expires.Arrangement fees related to loans and loan commitments are amortized over the expected loan term.Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.LEASE LIABILITIESAt the commencement date of the lease, Fiskars Group recognizes lease liabilities measured at the present value of future unpaid lease payments. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group, and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date as typically the interest rate implicit in the lease is not readily available. Subsequently lease liability is measured using the effective interest rate method, and the carrying amount of lease liability is increased with the interest on the lease liability, reduced with the amount of lease payments made, and adjusted to reflect any reassessments or lease modifications made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-716-2": {
"value": "Non-current interest-bearing debtReconciliation of net debt2022 2021EUR million 2022 2021Fair Carrying Fair Carrying Loans from credit institutions 325.6 65.1EUR millionvalueamountvalueamountLease liabilities 115.5 111.5Loans from credit 130.1 130.4Cash and cash equivalents -115.8 -31.5institutionsNet debt 325.3 145.0Other non-current 0.7 0.7debtTotal, Dec 31 130.1 130.4 0.7 0.7Current interest-bearing debt2022 2021Fair Carrying Fair Carrying EUR millionvalueamountvalueamountBank overdrafts 14.2 14.2Loans from credit 195.2 195.2 50.0 50.0institutionsOther 0.2 0.2Total, Dec 31 195.2 195.2 64.4 64.4Changes in liabilities arising from financing activities2022EUR million Jan 1 Lease changes Cash flows Fx difference Other Dec 31Non-current loans and borrowings 0.7 129.7 130.4Non-current lease liabilities (Note 5.5) 88.9 1.4 2.7 -0.1 92.9Current loans and borrowings 64.4 131.0 -0.2 195.2Current lease liabilities (Note 5.5) 22.6 26.7 -26.2 -2.0 1.4 22.5Total 176.6 28.1 234.5 0.5 1.4 440.92021EUR million Jan 1 Lease changes Cash flows Fx difference Other Dec 31Non-current loans and borrowings 51.2 -0.5 0.0 -50.0 0.7Non-current lease liabilities (Note 5.5) 71.8 0.0 0.0 1.5 15.5 88.9Current loans and borrowings 61.2 -47.2 0.4 50.0 64.4Current lease liabilities (Note 5.5) 22.7 39.3 -26.4 0.5 -13.6 22.6Total 206.9 39.3 -74.1 2.5 1.9 176.6Maturity of liabilitiesAs of December 31, 2022 the Group had unused committed credit facilities EUR 200.0 million (2021: 280.0) at its disposal to guarantee its liquidity. The average maturity of the credit limit agreements as of December 31, 2022 was 3 years (2021: 3.9). Maturities of long term loans are presented in the below table. Agreements concerning credit facilities and long term loans include a covenant for the solidity. Non-compliance with the covenant leads to a premature expiry of the agreements. Breach of covenant requires material deterioration of the solidity from the current. 2022EUR million 2023 2024 2025 2026 2027 Later years TotalBank overdraftsOther debt 0.2 0.2 0.4Loans from credit institutions 195.2 80.0 50.0 325.2interests 5.1 4.2 3.9 1.6 1.6 2.9 19.2Lease liabilities (Note 5.5) 19.8 16.7 15.7 13.2 10.7 29.3 105.3interests 2.8 2.2 1.7 1.3 0.8 1.4 10.2Trade payables 69.2 69.2Derivative liabilities 1.4 1.4Total, Dec 31 293.7 23.3 101.3 16.1 13.1 83.5 530.92021EUR million 2022 2023 2024 2025 2026 Later years TotalBank overdrafts 14.2 14.2Other debt 0.2 0.2 0.2 0.2 0.9Loans from credit institutions 50.0 50.0interests 0.3 0.3Lease liabilities (Note 5.5) 20.8 16.4 12.3 10.7 9.7 33.6 103.5interests 1.8 1.4 1.1 0.9 0.8 1.9 8.0Trade payables 139.1 139.1Derivative liabilities 0.2 0.0Total, Dec 31 226.3 18.0 13.6 11.9 10.5 35.5 315.9Interest-bearing debts are valued at amortized cost. The fair values of interest-bearing debts have been calculated by discounting the cash flow of the debt by the market rate at the end of reporting period (fair value hierarchy level 2).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-720-2": {
"value": "Sensitivity analysis of currency exposureThe exchange rate sensitivity analysis in accordance with IFRS 7 indicates how the profit before taxes or consolidated Group equity would be impacted by a 10% depreciation of a currency. The impact of a 10% appreciation of a currency would be approximately the opposite. The analysis of impact on profit includes internal and external foreign currency denominated financial items of the parent company in the selected currencies. Estimated commercial cash flows of the Group companies consist of net purchases and sales in foreign currencies during the subsequent year. Derivatives include transactions to hedge the estimated commercial flows. Other financial items include foreign currency denominated loans, deposits and investments. The selected currencies represent approximately 90% of the commercial net foreign currency flows. The sensitivity analysis on the consolidated Group equity illustrates translation risk related to the foreign currency denominated equity.2022 2021Impact on result before taxes Impact on result before taxesEstimated Estimated Other financial Impact on Other financial Impact on EUR millioncommercial Derivativescommercial Derivativesitemsgroup equityitemsgroup equitycash flowscash flowsAUD -1.9 2.4 -0.4 -2.0 -1.9 2.2 -0.3 -1.7CAD -2.0 2.4 -0.3 -1.6 -1.3 1.3 0.0 -1.0GBP -0.8 4.8 -4.0 -3.9 -0.9 6.3 -5.4 -3.6IDR 1.3 -1.3 0.0 0.0 1.2 -1.2 0.0 0.0JPY -1.3 2.1 -0.8 -2.3 -1.4 2.1 -0.7 -2.1SEK -2.2 0.9 1.3 -0.9 -2.3 1.1 1.2 -0.6THB 3.3 -2.7 -0.6 -1.4 3.2 -2.4 -0.8 -1.5USD 3.5 12.7 -16.2 -16.4 2.8 8.8 -11.6 -14.5",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-722-6": {
"value": "Fair value of financial instrumentsAccounting principlesFAIR VALUE CATEGORIESHierarchy level 1 includes financial assets and liabilities that are publicly quoted in an active market. This category includes listed shares. Level 2 includes financial assets and liabilities measured using directly observable market inputs. All interest bearing debts and derivatives fall within this category. Level 3 includes financial assets and liabilities measured using non-market observable inputs. The asset classes in this category are unlisted equity investments and funds.FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND VIA OTHER COMPREHENSIVE INCOMEFinancial assets at fair value through profit or loss include financial assets that are held for trading or are designated as financial assets at fair value through profit or loss upon initial recognition (the fair value option). In Fiskars Group this category comprises derivative instruments for which hedge accounting is not applied, and investments in listed securities. Financial assets at fair value through profit or loss are measured at fair value both at initial recognition and subsequently. The fair values of the listed securities are based on quoted rates at the end of the reporting period, and both realized and unrealized gains and losses are recognized in the income statement under financial items. The fair value measurement principles of derivative instruments are described in Note 5.6.Financial assets at fair value through other comprehensive income include listed shares. These assets are measured at fair value at initial recognition and subsequently. Changes in fair value are recognized in other comprehensive income.Accounting principlesFINANCIAL LIABILITIES AND BORROWING COSTSFiskars Group classifies its financial liabilities in the following categories: financial liabilities at fair value through profit or loss (includes derivative liabilities) and financial liabilities measured at amortized cost. A financial liability is initially recognized at fair value, and subsequently carried at amortized cost. Derivative liabilities are measured at fair value. Financial liabilities are classified as non-current or current; the latter group comprises all those financial liabilities for which the Group does not have an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. The Group removes a financial liability (or a part of it) from its balance sheet only when it is extinguished, i.e. when the obligation specified in the contract is discharged or cancelled or expires.Arrangement fees related to loans and loan commitments are amortized over the expected loan term.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-725-6": {
"value": "Accounting principlesFiskars Group assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.LEASE LIABILITIESAt the commencement date of the lease, Fiskars Group recognizes lease liabilities measured at the present value of future unpaid lease payments. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group, and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs.In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date as typically the interest rate implicit in the lease is not readily available. Subsequently lease liability is measured using the effective interest rate method, and the carrying amount of lease liability is increased with the interest on the lease liability, reduced with the amount of lease payments made, and adjusted to reflect any reassessments or lease modifications made. The carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-766-1": {
"value": "5.6 DerivativesAccounting principlesDERIVATIVES AND HEDGE ACCOUNTINGDerivatives not designated as hedging instruments are recognized at fair value through profit and loss. Derivatives are initially valued at cost and subsequently at fair value determined at the end of each reporting period. The fair value of derivatives is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in financial items. Fiskars Group applies hedge accounting to changes in the fair value of derivatives designated, qualifying and effective as cash flow hedges. The fair value of derivatives on which hedge accounting is applied is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in equity.EUR million 2022 2021Nominal amounts of derivativesForeign exchange forwards and swaps EUR million 2022 2021Assets 4.5 0.7Derivatives, hedge accounting not Liabilities -1.4 -0.2applied:Net 3.1 0.6Foreign exchange forwards and 306.2 338.3Interest rate swapsswapsAssets 0.1Derivatives, hedge accounting applied:Net 0.1Interest rate swaps 50.0Fair value of derivativesMaturity of derivatives2022EUR million 2022 2021Derivatives, hedge accounting not EUR million 2023 2024 Later years Totalapplied:Foreign Foreign exchange forwards and exchange 3.1 0.6306.2 306.2swapsforwards and swaps Derivatives, hedge accounting applied:Interest rate 50.0Interest rate swaps 0.1swapsTotal, Dec 31 306.2 50.0 356.2Derivative agreements the Group enters into are governed by International Swaps and Derivatives 2021Association\u2019s Master Agreements (ISDA) or by EUR million 2022 2023 Later years Totalcorresponding local agreements. In case of a credit Foreign event as defined by the ISDA the other agreement exchange 338.3 338.3party may demand early termination and set-off. forwards and swaps Gross amounts of derivative assets and liabilities Total, Dec 31 338.3 338.3subject to early termination and set-off are presented in the following table.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-767-3": {
"value": "Accounting principlesDERIVATIVES AND HEDGE ACCOUNTINGDerivatives not designated as hedging instruments are recognized at fair value through profit and loss. Derivatives are initially valued at cost and subsequently at fair value determined at the end of each reporting period. The fair value of derivatives is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in financial items. Fiskars Group applies hedge accounting to changes in the fair value of derivatives designated, qualifying and effective as cash flow hedges. The fair value of derivatives on which hedge accounting is applied is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in equity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-767-4": {
"value": "Accounting principlesDERIVATIVES AND HEDGE ACCOUNTINGDerivatives not designated as hedging instruments are recognized at fair value through profit and loss. Derivatives are initially valued at cost and subsequently at fair value determined at the end of each reporting period. The fair value of derivatives is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in financial items. Fiskars Group applies hedge accounting to changes in the fair value of derivatives designated, qualifying and effective as cash flow hedges. The fair value of derivatives on which hedge accounting is applied is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in equity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-767-5": {
"value": "Accounting principlesDERIVATIVES AND HEDGE ACCOUNTINGDerivatives not designated as hedging instruments are recognized at fair value through profit and loss. Derivatives are initially valued at cost and subsequently at fair value determined at the end of each reporting period. The fair value of derivatives is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in financial items. Fiskars Group applies hedge accounting to changes in the fair value of derivatives designated, qualifying and effective as cash flow hedges. The fair value of derivatives on which hedge accounting is applied is based on prevailing market rates or rates derived from the prevailing market rates at the end of the reporting period (fair value hierarchy level 2). Fair value changes are recognized in equity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-786-1": {
"value": "6.1 SubsidiariesShares in subsidiaries% of % of Nature % of % of Nature Domicileshare voting of main Domicileshare voting of main capitalpoweractivitiescapitalpoweractivitiesFiskars Americas Holding Oy Ab Raseborg FI 100.0 100.0 HFiskars Germany GmbH Herford DE 100.0 100.0 SFiskars Brands, Inc. Madison, WI US 100.0 100.0 PIittala GmbH Solingen DE 100.0 100.0 SFiskars Canada, Inc. Toronto CA 100.0 100.0 SFiskars Italy S.r.l. Premana IT 100.0 100.0 SConsumer Brands (Hong Kong) Co., Fiskars Norway AS Oslo NO 100.0 100.0 SHong Kong HK 1.0 1.0 HLimitedFiskars Polska Sp. z o.o. Slupsk PL 100.0 100.0 PFiskars Polska Sp. z.o.o., Budapest HU 100.0 100.0 SFiskars Europe Holding Oy Ab Raseborg FI 100.0 100.0 HMagyarorsz\u00e1gi Fi\u00f3ktelepeConsumer Brands (Hong Kong) Co., Fiskars Polska Sp. z.o.o., od\u0161t\u011bpn\u00fd Hong Kong HK 99.0 99.0 HPrague CZ 100.0 100.0 SLimitedz\u00e1vodFiskars (Thailand) Co.,Limited Bangkok TH 98.0 98.0 HFiskars Form Limited Bridgend GB 100.0 100.0 DFiskars Trading (Shanghai) Co., Ltd Shanghai CN 100.0 100.0 HFiskars Commercial (Shanghai) Co., Ltd. Shanghai CN 100.0 100.0 SFiskars Finland Oy Ab Helsinki FI 100.0 100.0 PUAB Fiskars Lithuania Vilnius LT 100.0 100.0 SFiskars (Thailand) Co., Limited Bangkok TH 1.0 1.0 HFiskars Latvia SIA Riga LV 100.0 100.0 SFiskars Sweden AB H\u00f6gan\u00e4s SE 100.0 100.0 SFiskars Living Canada, Inc New Brunswick CA 100.0 100.0 SFiskars Estonia AS Tallinn EE 100.0 100.0 SWWRD UK/Ireland, Ltd. Stoke-on-Trent GB 100.0 100.0 DFiskars Benelux B.V. Oosterhout NL 100.0 100.0 SWWRD Ireland IPCo LLC Wilmingtom, DE US 100.0 100.0 DIittala BV Antwerpen BE 0.5 0.5 SWWRD IPCo. LLC Wilmingtom, DE US 100.0 100.0 DIittala BV Antwerpen BE 99.5 99.5 SWedgwood/Doulton USA Acqco 1 Inc. Wilmingtom, DE US 100.0 100.0 HFiskars Denmark A/S Glostrup DK 100.0 100.0 PWedgwood/Doulton USA Acqco 2 Wilmingtom, DE US 100.0 100.0 HInc. Royal Copenhagen GmbH Cologne DE 100.0 100.0 DFiskars Living US, LLC Wilmingtom, DE US 100.0 100.0 SFiskars Japan Co., Ltd Tokyo JP 100.0 100.0 SFiskars UK Limited Stoke-on-Trent GB 100.0 100.0 PRoyal Copenhagen Korea Co., Ltd Seoul KR 100.0 100.0 SWWRD Ireland Limited Waterford IE 100.0 100.0 PFiskars Taiwan Limited Taipei TW 100.0 100.0 SSteklarna Roga\u0161ka d.o.o. Roga\u0161ka Slatina SI 100.0 100.0 PRoyal Copenhagen Thailand Ltd Saraburi TH 60.0 60.0 PSteklarski HRAM d.o.o. Roga\u0161ka Slatina SI 100.0 100.0 SFiskars Hong Kong Limited Hong Kong HK 100.0 100.0 SRoga\u0161ka Kristal d.o.o. Zagreb HR 100.0 100.0 DFiskars Deutschland GmbH Herford DE 100.0 100.0 DFiskars Australia Pty Ltd Sydney AU 100.0 100.0 SFiskars France S.A.S. Ivry sur Seine FR 100.0 100.0 SFiskars Australia Pty Ltd - New Fiskars France Sucursal en Espa\u00f1a Madrid ES 100.0 100.0 SAuckland NZ 100.0 100.0 SZealand Branch % of % of Nature Domicileshare voting of main capitalpoweractivitiesA.C.N. 083 550 681 Pty Ltd Melbourne AU 100.0 100.0 DJosiah Wedgwood & Sons Pty Ltd Sydney AU 100.0 100.0 DWaterford Wedgwood Australia Stoke-on-Trent GB 100.0 100.0 DLimitedFiskars Online Oy Ab Helsinki FI 100.0 100.0 SWWRD Netherlands MidCo B.V. Amsterdam NL 100.0 100.0 HWaterford Wedgwood Trading Singapore SG 100.0 100.0 HSingapore Pte LimitedPT Doulton Tangerang ID 96.2 96.2 PAb \u00c5bo B\u00e5tvarf - Turun Veneveist\u00e4m\u00f6 Oy Turku FI 100.0 100.0 DFiskars (Thailand) Co.,Limited Bangkok TH 1.0 1.0 HHolding, management or services HProduction and sales PSales SDormant D",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:743700BKTW4EQIVKYY42",
"period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
}
},
"pp-value-788-1": {
"value": "6.2 Related party transactionsFiskars Group\u2019s related parties are members of the Fiskars Group Board of Directors and Fiskars Group Leadership Team, other key management persons, and individual shareholders with control or significant influence over the company, as well as entities controlled or significantly influenced by them. In addition, associated companies of Fiskars and members of the family of the above-mentioned individuals are also regarded as related parties.Fiskars Finland Oy Ab rents real estate from its associated company Koy Iittalan Lasim\u00e4ki and has granted a capital loan to the company at inception.Fiskars Group had no significant transactions, liabilities or receivables with related parties during 2022.EUR million 2022 2021Rent 0.2 0.2Capital loan 0.2 0.2Shareholdings of the Board and key management, December 31Includes holding of corporations under controlling power together with a family member.2022 2021The Directors and the CEO do not have any debts to Holdings of Holdings of Own Own the company; nor has the company given pledges EUR millioncontrolled Totalcontrolled Totalholdingsholdingsor taken on other responsibilities in their names. The corporationscorporationsshareholdings of the Board and key management Ehrnrooth Paul 11,430,961 11,430,961 11,430,961 11,430,961represent in total 45.7% of the outstanding shares of Fromond Louise 601,135 10,567,417 11,168,552 601,135 10,567,417 11,168,552the company.Goldin JuliaLindahl Carl-MartinLixfeld VolkerLuomakoski Jyri 4,000 4,000 3,000 3,000Mero Inka 700 700M\u00e5nsson Fabian 3,000 3,000Sj\u00f6lander PeterSotamaa Ritva 3,000 3,000 3,000 3,000Ehrnrooth Albert 855,372 13,478,534 14,333,906 855,372 13,051,880 13,907,252Ahlstr\u00f6m Nathalie 29,974 29,974 14,000 14,0001Andersson TinaBachler Christian 3,540 3,540Brouillard James2Gaggl Risto5,164 5,164Hedberg Johan 3,312 3,3123Holmberg Peter1 Member of the Fiskars Group Leadership Team until February 28, 20222Hyyryl\u00e4inen Tuomas 6,852 6,852 Member of the Fiskars Group Leadership Team until December 31, 202243 Member of the Fiskars Group Leadership Team as of March 15, 2021Lindholm Niklas45 Member of the Fiskars Group Leadership Team until February 28, 2022Mindel\u00f6f Anna56 Member of the Fiskars Group Leadership Team as of March 1, 2022Siitonen Jussi40,000 40,000 15,000 15,0006 Member of the Fiskars Group Leadership Team as of August 16, 20217Timonen P\u00e4ivi4,144 4,1447 Member of the Fiskars Group Leadership Team until December 31, 202288Zappa Charlene Member of the Fiskars Group Leadership Team as of January 17, 20229 Member of the Fiskars Group Leadership Team until August 13, 2021109 Member of the Fiskars Group Leadership Team until February 28, 2021Pohjonen Sari10Taimi MaijaRemuneration of the Board and key management2022 2021EUR thousand Salaries and fees Statutory pension Supplementary pension Salaries and fees Statutory pension Supplementary pensionEhrnrooth Paul 159.0 123.0Luomakoski Jyri 120.5 86.0Fromond Louise 78.8 62.3Mero Inka 15.0 57.0M\u00e5nsson Fabian 16.3 61.8Sj\u00f6lander Peter 15.0 63.3Sotamaa Ritva 77.8 57.3Ehrnrooth Albert 77.8 57.3Ehrnrooth Alexander 1.5 5.3Lixfeld Volker 69.8Lindahl Carl-Martin 69.8Goldin Julia 62.3Ahlstr\u00f6m Nathalie 857.7 118.6 94.9 1,251.2 213.1 104.1Fiskars Group Leadership Team, 5,298.0 338.7 203.6 5,607.9 596.9 217.4excluding CEO and President Total 6,919.3 457.3 298.5 7,432.1 810.0 321.5The key management consists of the Board of 2022 there is one plan in place for years 2018\u20132022, total shareholder return and cumulative comparable Directors, the President & CEO and the members which includes one on-going performance period for EBITA (performance period 2021\u20132023) and total of Corporate Management Team (Fiskars Group years 2020\u20132022 and a new share-based Long-shareholder return and cumulative comparable EBIT Leadership Team). The figures are presented on an term incentive plan with two on-going performance (performance period 2022\u20132024) during the vesting accrual basis. periods for years 2021\u20132023 and 2022\u20132024. The period. No reward will be paid if targets are not met Board of Directors confirms the targets separately or if the participant\u2019s employment ends before reward Fiskars Group Leadership Team belongs to share-for each performance period and they are based on payment. The expense recorded during the financial based long-term incentive plans to which participants the company\u2019s total shareholder return, net sales and year for the corporate management team is included are selected by the Board of Directors annually. In net working capital (performance period 2020\u20132022), in the salaries and fees figures above.Fiskars Group Leadership Team members based in Finland have a collective supplementary pension insurance, which includes an old-age pension at the retirement age, vested rights under certain conditions and indemnity payable at death. The amount of pension income is based on the insurance savings. The employer\u2019s contribution to the insurance plan is 20% of the preceding year\u2019s income, excluding bonuses, for CEO and 16%\u201320% of the preceding year\u2019s income, excluding bonuses, for Fiskars Group Leadership Team excl. CEO.The President and CEO\u2019s compensation consists of base salary, annual short-term incentive plan and a share-based long-term incentive plan. The President and CEO participates in the ongoing performance periods 2020\u20132022, 2021\u20132023 and 2022\u20132024 of the long-term incentive plan. The President and CEO\u2019s employment contract will end by the time of the statutory retirement age. The President and CEO and the Company have a notice period of six months. Remuneration upon dismissal by the Company equals annual base salary, in addition to the salary for the six-month notice period.",
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"value": "Shareholdings of the Board and key management, December 31Includes holding of corporations under controlling power together with a family member.2022 2021The Directors and the CEO do not have any debts to Holdings of Holdings of Own Own the company; nor has the company given pledges EUR millioncontrolled Totalcontrolled Totalholdingsholdingsor taken on other responsibilities in their names. The corporationscorporationsshareholdings of the Board and key management Ehrnrooth Paul 11,430,961 11,430,961 11,430,961 11,430,961represent in total 45.7% of the outstanding shares of Fromond Louise 601,135 10,567,417 11,168,552 601,135 10,567,417 11,168,552the company.Goldin JuliaLindahl Carl-MartinLixfeld VolkerLuomakoski Jyri 4,000 4,000 3,000 3,000Mero Inka 700 700M\u00e5nsson Fabian 3,000 3,000Sj\u00f6lander PeterSotamaa Ritva 3,000 3,000 3,000 3,000Ehrnrooth Albert 855,372 13,478,534 14,333,906 855,372 13,051,880 13,907,252Ahlstr\u00f6m Nathalie 29,974 29,974 14,000 14,0001Andersson TinaBachler Christian 3,540 3,540Brouillard James2Gaggl Risto5,164 5,164Hedberg Johan 3,312 3,3123Holmberg Peter1 Member of the Fiskars Group Leadership Team until February 28, 20222Hyyryl\u00e4inen Tuomas 6,852 6,852 Member of the Fiskars Group Leadership Team until December 31, 202243 Member of the Fiskars Group Leadership Team as of March 15, 2021Lindholm Niklas45 Member of the Fiskars Group Leadership Team until February 28, 2022Mindel\u00f6f Anna56 Member of the Fiskars Group Leadership Team as of March 1, 2022Siitonen Jussi40,000 40,000 15,000 15,0006 Member of the Fiskars Group Leadership Team as of August 16, 20217Timonen P\u00e4ivi4,144 4,1447 Member of the Fiskars Group Leadership Team until December 31, 202288Zappa Charlene Member of the Fiskars Group Leadership Team as of January 17, 20229 Member of the Fiskars Group Leadership Team until August 13, 2021109 Member of the Fiskars Group Leadership Team until February 28, 2021Pohjonen Sari10Taimi MaijaRemuneration of the Board and key management2022 2021EUR thousand Salaries and fees Statutory pension Supplementary pension Salaries and fees Statutory pension Supplementary pensionEhrnrooth Paul 159.0 123.0Luomakoski Jyri 120.5 86.0Fromond Louise 78.8 62.3Mero Inka 15.0 57.0M\u00e5nsson Fabian 16.3 61.8Sj\u00f6lander Peter 15.0 63.3Sotamaa Ritva 77.8 57.3Ehrnrooth Albert 77.8 57.3Ehrnrooth Alexander 1.5 5.3Lixfeld Volker 69.8Lindahl Carl-Martin 69.8Goldin Julia 62.3Ahlstr\u00f6m Nathalie 857.7 118.6 94.9 1,251.2 213.1 104.1Fiskars Group Leadership Team, 5,298.0 338.7 203.6 5,607.9 596.9 217.4excluding CEO and President Total 6,919.3 457.3 298.5 7,432.1 810.0 321.5The key management consists of the Board of 2022 there is one plan in place for years 2018\u20132022, total shareholder return and cumulative comparable Directors, the President & CEO and the members which includes one on-going performance period for EBITA (performance period 2021\u20132023) and total of Corporate Management Team (Fiskars Group years 2020\u20132022 and a new share-based Long-shareholder return and cumulative comparable EBIT Leadership Team). The figures are presented on an term incentive plan with two on-going performance (performance period 2022\u20132024) during the vesting accrual basis. periods for years 2021\u20132023 and 2022\u20132024. The period. No reward will be paid if targets are not met Board of Directors confirms the targets separately or if the participant\u2019s employment ends before reward Fiskars Group Leadership Team belongs to share-for each performance period and they are based on payment. The expense recorded during the financial based long-term incentive plans to which participants the company\u2019s total shareholder return, net sales and year for the corporate management team is included are selected by the Board of Directors annually. In net working capital (performance period 2020\u20132022), in the salaries and fees figures above.Fiskars Group Leadership Team members based in Finland have a collective supplementary pension insurance, which includes an old-age pension at the retirement age, vested rights under certain conditions and indemnity payable at death. The amount of pension income is based on the insurance savings. The employer\u2019s contribution to the insurance plan is 20% of the preceding year\u2019s income, excluding bonuses, for CEO and 16%\u201320% of the preceding year\u2019s income, excluding bonuses, for Fiskars Group Leadership Team excl. CEO.The President and CEO\u2019s compensation consists of base salary, annual short-term incentive plan and a share-based long-term incentive plan. The President and CEO participates in the ongoing performance periods 2020\u20132022, 2021\u20132023 and 2022\u20132024 of the long-term incentive plan. The President and CEO\u2019s employment contract will end by the time of the statutory retirement age. The President and CEO and the Company have a notice period of six months. Remuneration upon dismissal by the Company equals annual base salary, in addition to the salary for the six-month notice period.",
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"pp-value-792-1": {
"value": "6.3 Acquisitions and divestmentsThe transaction was structured as an asset sale. The agreement covered intellectual property including 2022the Gilmour and Nelson brands, related trademarks SALES OF SUBSIDIARY IN RUSSIAand patents pertaining to watering equipment On March 7, 2022, Fiskars Group announced that it commercialized in North America. Included in the has decided to withdraw completely from the Russian transaction were the manufacturing plant in Excelsior market due to Russia\u2019s attack on Ukraine. The sale of Springs, Missouri and the warehouse operations in the subsidiary was completed in August 2022.Independence, Missouri, as well as the employees working in these two locations.The company has operated locally mainly through its Fiskars brand and employed approximately 70 Assets directly associated with the sale were people in Moscow and in the St. Petersburg area. previously classified as held for sale.The net sales of the Russian business in 2021 were approximately 1% of the company\u2019s global 2021net sales. The exit from the Russian market did not The sale of watering assembly plant and related have a significant impact on the company\u2019s financial operations in Ningbo, China to Daye (Ningbo Daye position or result in 2022. The one-time impact Garden Industry Co. Ltd) was closed on January of the withdrawal is included in Items Affecting 22, 2021. The divestment did not have a significant Comparability.impact on Fiskars Group\u2019s financial position or result in 2021.SALE OF NORTH AMERICAN WATERING BUSINESSOn February 1, 2022, Fiskars Corporation announced that it had completed the sale of its North American Watering Business to Lawn & Garden LLC, a holding company owned by Centre Lane Partners (CLP), a New York headquartered American private equity company. The transaction was announced on December 21, 2021.",
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"pp-value-793-1": {
"value": "6.4 Commitments and contingenciesEUR million 2022 2021Guarantees 6.0 6.71Other contingencies3.0 2.4Total, Dec 31 9.1 9.11 Other contingencies include a commitment of USD 1.7 million (2021: 1.7) to invest in private equity funds.LitigationFiskars is involved in a number of legal actions, claims and other proceedings. The final outcome of these matters cannot be predicted. Taking into account all available information to date the outcome is not expected to have material impact on the financial position of the Group.Fiskars Group entities are subject to tax audits in certain countries. It is possible that tax audits maylead to reassessment of taxes.",
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"value": "6.5 Subsequent events after the Jan 23, 2023: Plans for targeted organizational changes to accelerate strategy executionreporting periodFiskars Group announced that it is planning changes Jan 13, 2023: Preliminary key figures for Q4 and mainly in the organizational structure of its three full year 2022business areas to further accelerate the execution Fiskars Group published preliminary key figures on of its Growth Strategy. The planned organizational its financial performance in the fourth quarter and changes are expected to lead to a net reduction the full year 2022, as 2022 was volatile due to the of approximately 100 roles globally and to result in challenging operating environment. In the release, total annual cost savings of approximately EUR 30 the company published unaudited Q4 and full year million, out of which approximately half would be sales on a comparable and reported basis as well as realized in the second half of 2023. At the same time, comparable EBIT for Q4 and the full year 2022. The the company will continue to invest in key strategic figures provided in the release did not change and building blocks, especially direct to consumer can be found in this financial statement release.and digital. One off costs related to the planned organizational changes are expected to amount to a Jan 20, 2023: Proposals of the Nomination total of approximately EUR 5 million, and they will be Committee of the Board of Directors to Fiskars\u2019 recorded as items affecting comparability (IAC) in the Annual General Meeting 2023first quarter of 2023.The Nomination Committee of the Board of Directors proposes to the Annual General Meeting that the following individuals shall be re elected to the Board of Directors: Albert Ehrnrooth, Paul Ehrnrooth, Louise Fromond, Julia Goldin, Carl Martin Lindahl, Volker Lixfeld, Jyri Luomakoski and Ritva Sotamaa. The Nomination Committee proposes that the annual fees of the members of the Board of Directors shall be EUR 70,000, the annual fee of the Vice Chairman EUR 105,000 and the annual fee of the Chairman EUR 140,000.",
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"value": "Other financial informationItems affecting comparabilityExceptional and material transactions outside the ordinary course of business are treated as items affecting comparability. These include items such as gains and losses on disposal of business operations, impairments, costs of discontinued significant business operations, restructuring costs and costs of integrating acquired businesses, major product recalls, and fines and penalties. Gains and losses are presented in the Consolidated Income Statement as an income or expense on the relevant line item and function. Impairments have been presented in the Income Statement in depreciation, amortization and impairment of the relevant function or in Goodwill and trademark impairment when the impairment concerns goodwill or trademarks. Write-downs are presented in other operating expenses.",
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"pp-value-798-1": {
"value": "Share related figures2022 2021 2020 2019 2018Share capital EUR million 7 7.5 77.5 77.5 77.5 77.5Earnings per share (basic EUR/share 1.21 1.06 0.83 0.63 1.00and diluted)12Dividend per share EUR/share 0.800.76 0.60 0.56 0.54+5.311Dividend EUR million 64.561.9 48.9 45.6 44.0Equity per share \u20ac 10.32 9.97 9.30 9.34 14.80Average price EUR/share 18.51 18.55 11.47 15.40 19.37Lowest price per share EUR/share 14.04 14.46 7.8 0 11.16 14.48Highest price per share EUR/share 24.45 23.40 15.02 20.60 25.00Price per share, Dec 31 EUR/share 15.38 23.00 14.98 11.26 15.04Market value of shares EUR million 1,239.3 1,873.8 1,220.4 917.7 1,226.9Number of shares, 1,000 pcs 81,000.0 81,905.2 81,905.2 81,905.2 81,905.2Number of treasury shares, 419.5 433.7 433.7 408.7 332.61,000 pcsNumber of shares traded, 9,724.6 8,016.4 11,112.7 9,148.1 3,149.51,000 pcsPrice per earnings 12.7 21.7 18.1 17.8 15.1Dividend per earnings in % 62.7 71.5 72.3 88.4 54.1percentDividend yield in percent % 4.9 3.3 4.0 5.0 3.6Number of shareholders, 32,602 30,080 25,968 23,495 20,013Dec 311 Board\u2019s proposal. 2 W\u00e4rtsil\u00e4 shares distributed as dividends.Basic and diluted earnings per share are equal, as the company has no potential ordinary shares.",
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