In This Article:
TULIKIVI CORPORATION INTERIM REPORT 1 NOV 2024 AT 1 PM
- The Tulikivi Group’s net sales were EUR 7.2 million (EUR 9.1 million, 7–9/2023) in the third quarter and EUR 25.0 million (EUR 35.4 million, 1–9/2023) in the review period.
- The Tulikivi Group’s operating profit was EUR 0.5 (1.3) million in the third quarter and EUR 1.6 (4.9) million in the review period.
- The Tulikivi Group’s profit before taxes was EUR 0.3 million (1.1 million) in the third quarter and EUR 1.0 (4.4) million in the review period.
- The equity ratio at the end of the review period was 50.9 per cent (47.5).
- Order books stood at EUR 3.1 (11.5) million at the end of the review period.
- The Suomussalmi talc project made good progress
- Future outlook: Net sales in 2024 are expected to be EUR 33 to 37 million and the comparable operating profit is expected to be EUR 2 to 3 million.
| Key financial ratios |
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| 1-9/24 | 1-9/23 | Change, % |
| 1-12/23 | 7-9/24 | 7-9/23 | Change, % |
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| Sales, MEUR | 25.0 | 35.4 | -29.6 % |
| 45.3 | 7.2 | 9.1 | -21.3 % |
| Operating profit/loss, MEUR | 1.6 | 4.9 | -68.3 % |
| 5.5 | 0.5 | 1.3 | -64.1 % |
| Operating profit/loss without impairment loss, MEUR | 1.6 | 4.9 | -68.3 % |
| 5.5 | 0.5 | 1.3 | -64.1 % |
| Profit before tax, MEUR | 1.0 | 4.4 | -77.1 % |
| 4.9 | 0.3 | 1.1 | -71.9 % |
| Total comprehensive income for the period, MEUR | 0.8 | 3.4 | -76.4 % |
| 3.7 | 0.2 | 1.0 | -75.3 % |
| Earnings per share, Euro | 0.01 | 0.06 |
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| 0.06 | 0.00 | 0.02 |
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| Net cash flow from operating activities, MEUR | 1.6 | 2.7 |
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| 4.9 | 0.8 | 0.9 |
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| Operating profit/loss without impairment loss, % | 6.3 | 13.9 |
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| 12.2 | 6.6 | 14.4 |
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| Equity ratio, % | 50.9 | 47.5 |
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| 47.8 |
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| Net indebtness ratio, % | 55.4 | 62.1 |
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| 58.4 |
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| Return on investments, % | 7.6 | 24.4 |
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| 20.8 |
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Comments by Heikki Vauhkonen, Managing Director:
In the third quarter, net sales declined significantly from the exceptionally high figures the year before as market recovery was slower than anticipated, particularly in Germany. Despite the decline in net sales, the relative profitability for the year was at a satisfactory level. This profitability was made possible by the role of exports in net sales and good cost control.
During the period under review, Tulikivi advanced its strategic projects as planned. The strategic projects are to grow the market share in the Central European fireplace market, to increase the net sales of the sauna business, and advance the Suomussalmi talc project to the investment stage.