TULIKIVI CORPORATION HALF YEAR FINANCIAL REPORT 15 AUG 2025 AT 1 PM - The Tulikivi Group’s net sales were EUR 8.5 million (Q2/2024: EUR 9.3 million) in the second quarter and EUR 14.6 million (H1/2024: EUR 17.8 million) in the review period. - The Tulikivi Group’s operating profit was EUR 0.5 (0.8) million in the second quarter and EUR -0.2 (1.1) million in the review period. - The Tulikivi Group’s profit before taxes was EUR 0.3 (0.6) million in the second quarter and EUR -0.6 (0.7) million in the review ...

Financial Performance - The Tulikivi Group's first-quarter net sales were EUR 6.0 million, a decrease of 28.6% compared to EUR 8.5 million in the same period of 2024 [1][3] - The operating profit for the first quarter was EUR -0.7 million, a decline of 319.0% from EUR 0.3 million in the previous year [1][3] - Profit before tax was EUR -0.9 million, representing a significant drop of 902.6% from EUR 0.1 million in Q1 2024 [1][3] - The equity ratio at the end of the review period was 49.4%, slightly down from 49.5% [1][3] - The order book stood at EUR 4.3 million, down from EUR 5.4 million [1] Market and Strategic Developments - The company is experiencing low net sales due to the seasonal nature of the fireplace sector and economic uncertainty, which has led consumers to postpone renovation and construction projects [4] - The order flow increased moderately during the quarter, reaching EUR 7.8 million, compared to EUR 7.6 million in the previous year [4] - Strategic projects are underway to grow market share in the Central European fireplace market and to advance the Suomussalmi talc project to the investment stage [5] - The expansion of the sales and distribution network for the new compact Jero collection in Central Europe is ongoing, with a goal to increase dealer sales offices by 50% by the end of 2026 [6] Product Developments - The sauna business launched a new collection of electric sauna heaters, the Kevo collection, which was introduced at the Interbad trade fair in October 2024 [7] - The company is focusing on the environmental permit process for the Suomussalmi talc project, with the application submitted to the Regional Office of Northern Finland on 9 May 2025 [8]