Nordic Fibreboard AS sees 8% increase in net sales, but reports a net loss.

From GlobeNewswire: 2024-08-30 10:23:00

In Q2 2024, Nordic Fibreboard AS saw a 8% increase in net sales to €2.18 million, driven by fiberboard sales of €2.17 million. EBITDA was positive at €217 thousand and operating profit reached €86 thousand. However, the company reported a net loss of €23 thousand. Sales to new industrial customers contributed to the revenue growth.

Fibreboard sales in Estonia and Finland surged in Q2 2024, compensating for the absence of a major Danish customer from the previous year. EBITDA for the quarter was positive at €228 thousand, reflecting a 7% increase in profitability. The company is focusing on expanding its customer base and product offerings to support growth.

Pärnu Riverside Development OÜ’s real estate management division saw a decrease in rental income to €9 thousand in Q2 2024. EBITDA was negative at €3 thousand. The company continues to manage and develop its property on Suur-Jõe Street in Pärnu, with plans to convert it into residential property.

Nordic Fibreboard Ltd is actively seeking new clients and markets to drive growth, with a focus on green, environmentally friendly solutions. The company is implementing a growth-oriented strategy that includes investments in sales, marketing, and product development. Flexibility in production volumes and a focus on customer needs are key priorities for the company’s future success.



Read more at GlobeNewswire:: Nordic Fibreboard AS consolidated unaudited financial