Fiskars Q4 report was strong and the company is now doing what was promised during its CMD. Fiskars that has for long had problems with growth continued to grow convincingly in each segment and in each market area, even though it faced a very strong comparison period. Gross margin improved sharply despite the increased logistics, raw material and energy costs. However, growth investments weakened earnings development in the bottom lines. We revised our estimates for the next few years slightly upward, but we want more evidence from the company about the continued performance improvement.