Tulikivi Corporation's half-year financial report for 2024 shows a decline in net sales.

From GlobeNewswire: 2024-08-16 06:00:00

Tulikivi Corporation’s half-year financial report for 2024 shows a decline in net sales compared to the previous year, with net sales at EUR 17.8 million and operating profit at EUR 1.1 million in the review period. Order books stood at EUR 3.5 million, with future outlook predicting net sales of EUR 37-44 million in 2024.

During the review period, Tulikivi focused on strategic projects in Central Europe and the sauna business. The company expanded distribution for the Jero collection, aimed at the stove-size market in Central Europe. The sauna business launched a new electric sauna heater collection with a focus on design, energy efficiency, and safety features.

Tulikivi also made progress with the Suomussalmi talc project, with plans reinforcing the project’s economic competitiveness. An environmental impact assessment report was submitted for the project as planned. The company’s order intake in the second quarter was EUR 8.2 million, with order books stabilizing at EUR 3.5 million at the end of the review period.

Overall, despite a decline in net sales, Tulikivi’s relative profitability remained satisfactory in the first half of 2024. The company’s strategic projects, expansion in Central Europe, new sauna heater collection, and progress on the talc project all contributed to maintaining profitability.



Read more at GlobeNewswire:: Tulikivi Corporation half year financial report 1–6/2024: