Tulikivi Corporation Interim report 1–3/2024

Key projects progressing well, market situation challenging

TULIKIVI CORPORATION  INTERIM REPORT  3 MAY 2024 AT 1 PM

- The Tulikivi Group’s first-quarter net sales were EUR 8.5 million (EUR 13.0 million, 1–3/2023).
- The Tulikivi Group’s first-quarter operating profit was EUR 0.3 (1.3) million and the profit before taxes was EUR 0.1 (1.1) million.
- The equity ratio at the end of the review period was 49.5 per cent (42.0).
- Order books stood at EUR 5.4 (16.1) million at the end of the review period.
- Based on customer feedback, the experimental products made from Suomussalmi’s Haaponen talc ore widely meet the needs of the various customer segments
- Future outlook: Net sales in 2024 are expected to be EUR 37 to 44 million and the comparable operating profit is expected to be EUR 3 to 5 million.

Key financial ratios
	1-3/24	1-3/23	Change, %		1-12/23
Sales, MEUR	8.5	13.0	-35.1 %		45.3
Operating profit/loss, MEUR	0.3	1.3	-75.2 %		5.5
Operating profit/loss without impairment loss, MEUR	0.3	1.3	-75.2 %		5.5
Profit before tax, MEUR	0.1	1.1	-88.9 %		4.9
Total comprehensive income for the period, MEUR	0.1	0.8	-83.3 %		3.7
Earnings per share, Euro	0.00	0.01			0.06
Net cash flow from operating activities, MEUR	-0.2	-0.7			4.9
Operating profit/loss without impairment loss, %	3.7	9.8			12.2
Equity ratio, %	49.5	42.0			47.8
Net indebtness ratio, %	61.2	77.9			58.4
Return on investments, %	4.7	19.7			20.8