Core Insights - The Tulikivi Group reported a decline in net sales for the first half of 2025, with figures of EUR 14.6 million compared to EUR 17.8 million in the same period of 2024, representing an 18% decrease [1][2] - The company's operating profit for the first half of 2025 was negative at EUR -0.2 million, a significant drop from EUR 1.1 million in the previous year, indicating a 117.4% decline [2][8] - The equity ratio remained stable at 49.7%, showing a slight increase from 49.4% in the previous year, reflecting a strong balance sheet [2][8] Financial Performance - Net sales for Q2 2025 were EUR 8.5 million, down from EUR 9.3 million in Q2 2024, marking an 8.5% decrease [1][2] - The profit before tax for the first half of 2025 was EUR -0.6 million, compared to EUR 0.7 million in the same period of 2024, a decline of 187.4% [2][8] - Earnings per share for the first half of 2025 were reported at EUR -0.01, down from EUR 0.01 in the previous year [2] Strategic Developments - The company is focusing on expanding its market share in the Central European fireplace market and increasing sales in the sauna business [4] - The sales and distribution network for the new compact Jero collection is being expanded, with a goal to increase the number of fireplace export dealers to 500 by the end of 2026 [5] - The launch of the new Kevo electric sauna heater collection is underway, with new retailer partnerships being established [6] Project Updates - The Suomussalmi talc project is progressing, with the submission of an environmental permit application and successful enrichment trials conducted [7][8] - Order books at the end of the review period stood at EUR 4.0 million, an increase from EUR 3.5 million [8] Future Outlook - The company anticipates improvements in net sales and comparable operating profit for 2025 compared to 2024 [8]