Core Insights - The Tulikivi Group experienced a decline in net sales and profitability in the third quarter and the review period compared to the previous year, attributed to economic uncertainty affecting consumer behavior [1][4]. Financial Performance - Net sales for Q3 were EUR 7.0 million, down from EUR 7.2 million in the same period last year, and total net sales for the review period were EUR 21.6 million, down from EUR 25.0 million [1][3]. - Operating profit for Q3 was EUR 0.2 million, a decrease from EUR 0.5 million, and for the review period, it was EUR 0.0 million, down from EUR 1.6 million [1][3]. - Profit before tax was EUR 0.0 million in Q3, down from EUR 0.3 million, and EUR -0.6 million for the review period, compared to EUR 1.0 million previously [1][3]. Equity and Financial Ratios - The equity ratio at the end of the review period was 48.6%, down from 50.9% [2][3]. - The net indebtedness ratio increased to 63.7% from 55.4% [3]. - Total comprehensive income for the period was EUR -0.5 million, a significant decline from EUR 0.8 million [3]. Market and Strategic Developments - The company’s order intake in Q3 was EUR 6.4 million, lower than anticipated, reflecting a challenging market situation in construction [4]. - Strategic projects are progressing, including efforts to grow market share in Central Europe and advance the Suomussalmi talc project [5]. - The expansion of the sales and distribution network for the new Jero collection in Central Europe is ongoing, with a goal to increase dealer locations from 330 to 500 by the end of 2026 [6]. Product Developments - The sauna business is launching the new Kevo electric sauna heater collection, emphasizing design, energy efficiency, and safety [7]. - The Suomussalmi talc project has made progress, including the submission of an environmental permit application and ongoing studies on ore exploitation [8].

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]

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]