Nordic Fibreboard AS consolidated unaudited interim report for the third quarter of 2025

Core Insights - Nordic Fibreboard reported consolidated net sales of €1.99 million for Q3 2025, reflecting a 2.5% increase from €1.94 million in Q3 2024, primarily driven by the production and wholesale of fibreboard [1][7] - The company achieved a positive EBITDA of €94 thousand in Q3 2025, with an EBITDA margin of 5%, a significant improvement from a negative EBITDA of €19 thousand and a margin of -1% in Q3 2024 [2] - The consolidated net loss for Q3 2025 was reduced to €77 thousand, compared to a net loss of €263 thousand in Q3 2024, indicating improved financial performance [3] Financial Performance - Revenue for Q3 2025 was €1,988 thousand, up from €1,938 thousand in Q3 2024, while the nine-month revenue decreased from €6,078 thousand in 2024 to €5,592 thousand in 2025 [5] - The gross margin increased from 16% in Q3 2024 to 24% in Q3 2025, indicating enhanced profitability [2] - Operating profit improved from a loss of €150 thousand in Q3 2024 to a loss of €34 thousand in Q3 2025 [5] Financial Position - As of September 30, 2025, total assets increased to €9.19 million from €8.78 million a year earlier, with total liabilities rising to €6.15 million from €4.74 million [13][14] - The equity of the company decreased to €3.04 million as of September 30, 2025, down from €4.04 million a year prior [16] - The debt-to-equity ratio increased to 67% from 54% in the previous year, indicating a higher leverage position [5] Cash Flow - Cash flow from operating activities for the first nine months of 2025 was negative at €553 thousand, compared to a negative cash flow of €102 thousand in the same period of 2024 [15] - Cash inflows from financing activities were €666 thousand in the first nine months of 2025, up from €296 thousand in 2024, reflecting improved financing conditions [15] Fibreboard Production and Sales - Fibreboard sales in Q3 2025 were €1.99 million, slightly up from €1.94 million in Q3 2024, with growth attributed to new customers in previously untapped markets [7][8] - The EBITDA for fibreboard production was positive at €112 thousand in Q3 2025, compared to a negative €19 thousand in Q3 2024 [8] Real Estate Management - The company owns and manages a property in Pärnu, which is undergoing development for residential real estate, following a merger with its subsidiary [10] - No sales revenue was generated from real estate management in Q3 2025, a decrease from €2 thousand in Q3 2024 [11]