In This Article:
TULIKIVI CORPORATION FINANCIAL STATEMENTS RELEASE 7 MARCH 2025 AT 1 PM
- The Tulikivi Group’s net sales were EUR 8.4 million (EUR 9.9 million, 10–12/2023) in the fourth quarter and EUR 33.3 million (EUR 45.3 million, 1–12/2023) in the review period.
- The Tulikivi Group’s operating profit was EUR 0.5 (0.6) million in the fourth quarter and EUR 2.1 (5.5) million in the review period.
- The Tulikivi Group’s profit before taxes was EUR 0.4 million (0.5 million) in the fourth quarter and EUR 1.4 (4.9) million in the review period.
- The equity ratio at the end of the review period was 51.9 per cent (47.8).
- Order books stood at EUR 2.8 (6.8) million at the end of the review period.
- The EIA process for the Suomussalmi talc project was concluded.
- The Board of Directors proposes to the Annual General Meeting that a maximum of EUR 0.01 per A share and EUR 0.0083 per K share be distributed as return of capital for the 2024 financial year.
- Future outlook: Net sales and the comparable operating profit for 2025 are expected to improve on 2024.
| Key financial ratios |
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| 1-12/24 | 1-12/23 | Change, % |
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| 10-12/24 | 10-12/23 | Change, % |
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| Sales, MEUR | 33.3 | 45.3 | -26.5 % |
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| 8.4 | 9.9 | -15.2 % |
| Operating profit/loss, MEUR | 2.1 | 5.5 | -62.4 % |
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| 0.5 | 0.6 | -16.3 % |
| Operating profit/loss without impairment loss, MEUR | 2.1 | 5.5 | -62.4 % |
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| 0.5 | 0.6 | -16.3 % |
| Profit before tax, MEUR | 1.4 | 4.9 | -70.4 % |
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| 0.4 | 0.5 | -5.5 % |
| Total comprehensive income for the period, MEUR | 1.2 | 3.7 | -68.7 % |
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| 0.4 | 0.3 | 12.9 % |
| Earnings per share, Euro | 0.02 | 0.06 |
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| 0.01 | 0.01 |
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| Net cash flow from operating activities, MEUR | 3.6 | 4.9 |
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| 2.0 | 2.2 |
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| Operating profit/loss without impairment loss, % | 6.3 | 12.2 |
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| 6.2 | 6.3 |
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| Equity ratio, % | 51.9 | 47.8 |
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| Net indebtness ratio, % | 58.0 | 58.4 |
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| Return on investments, % | 7.9 | 20.8 |
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Comments by Heikki Vauhkonen, Managing Director:
In the final quarter of last year, net sales declined as consumers postponed renovation and new construction projects. The company’s order intake for the quarter was EUR 8.0 (7.4) million. Sales of Tulikivi fireplaces and sauna heaters made positive progress, while demand for subcontracted cladding stones for room-heating stoves continued to decline. Despite the decline in net sales, the relative profitability for the year was at a satisfactory level, the company’s balance sheet position improved, and its equity ratio increased to 51.9%. This profitability was made possible by the role of exports in net sales and good cost control.