Core Insights - Nordic Fibreboard experienced a decline in consolidated net sales for Q1 2025, totaling € 1.51 million, which is an 11% decrease from € 1.97 million in Q1 2024 [1] - The company's main activity, fibreboard production and wholesale, generated sales revenue of € 1.73 million in Q1 2025, down from € 1.95 million in Q1 2024 [1] - The real estate management segment saw a significant drop in sales revenue to € 1 thousand in Q1 2025 from € 12 thousand in Q1 2024, attributed to the termination of rental agreements [2][11] Financial Performance - The consolidated EBITDA for Q1 2025 was negative € 85 thousand, with an EBITDA margin of negative 5%, compared to a positive EBITDA of € 53 thousand and a margin of 3% in Q1 2024 [3][22] - The Group's net loss for Q1 2025 was € 228 thousand, worsening from a net loss of € 73 thousand in Q1 2024 [5][22] - The gross margin decreased from 19% in Q1 2024 to 15% in Q1 2025, indicating reduced profitability [3] Revenue Breakdown - Revenue from fibreboard production and sales was € 1,734 thousand in Q1 2025, down from € 1,949 thousand in Q1 2024 [6] - The real estate management segment reported revenue of € 1 thousand in Q1 2025, a decrease from € 12 thousand in Q1 2024 [6][11] - Sales in the largest market, Finland, decreased by € 58 thousand to € 614 thousand in Q1 2025, while Baltic market sales increased by € 110 thousand [8][9] Geographical Sales Analysis - Fibreboard sales to the European Union were € 1,639 thousand in Q1 2025, down from € 1,692 thousand in Q1 2024 [10] - Sales to Africa decreased from € 167 thousand in Q1 2024 to € 87 thousand in Q1 2025, with no sales recorded in Asia and the Middle East during Q1 2025 [10][9] Cash Flow and Financial Position - As of March 31, 2025, total assets were € 8.7 million, down from € 9.1 million a year earlier, while total liabilities increased to € 5.3 million from € 4.8 million [13][22] - The Group's operating result for Q1 2025 showed a negative cash flow of € 528 thousand, compared to a negative cash flow of € 9 thousand in Q1 2024 [15][22] - The net cash flow result for Q1 2025 was a positive € 27 thousand, contrasting with a cash outflow of € 1 thousand in Q1 2024 [15][22] Outlook - The company anticipates continued challenges in 2025, particularly in the construction sector, with Finland being the largest export market [16] - Nordic Fibreboard aims to increase sales volumes and has signed cooperation agreements with new customers [17] - Plans for 2025 include improvements in digital solutions and investments in factory energy system modernization [18]

Overview of Operating Results - Consolidated net sales for 2024 were € 7.59 million, a decrease of 1.5% compared to 2023 sales of € 7.71 million [2] - Sales revenue from the production of fibreboard was € 7.57 million in 2024, remaining stable compared to € 7.66 million in 2023 [2] - The loss of sales from a major Danish customer was compensated by growth in orders from industrial customers and new customers in 2024 [2] - Main markets, including Finland, Sweden, and the Baltics, maintained stable sales levels, while sales to Asian and African markets showed growth [2] - Sales revenue from real estate management was € 25 thousand in 2024, down from € 47 thousand in 2023 [2] Financial Performance - Consolidated EBITDA for 2024 was negative € 0.03 million, a significant decrease from positive € 0.58 million in 2023, with an EBITDA margin of 0% [3] - The decrease in EBITDA was primarily due to the revaluation of investment properties in 2023, which provided a one-time income of € 404 thousand [3] - The factory faced a forced shutdown in December 2024 due to adverse weather conditions, impacting personnel and maintenance costs [3] - The consolidated net loss for 2024 was € 0.79 million, compared to a net loss of € 0.68 million in 2023 [4] Consolidated Statement of Financial Position - Total assets as of December 31, 2024, were € 8,252 thousand, down from € 8,505 thousand in 2023 [5][6] - Current assets decreased slightly to € 1,248 thousand from € 1,269 thousand in 2023 [5] - Total liabilities increased to € 4,636 thousand in 2024 from € 4,103 thousand in 2023, with borrowings rising to € 1,111 thousand [6] Consolidated Statement of Profit or Loss - Revenue for 2024 was € 7,592 thousand, down from € 7,704 thousand in 2023 [7] - Gross profit decreased to € 771 thousand from € 894 thousand in 2023 [7] - Operating loss for 2024 was € 547 thousand, compared to a loss of € 316 thousand in 2023 [7] - Basic and diluted earnings per share for 2024 were both negative € 0.17, compared to negative € 0.15 in 2023 [7]