Tulikivi Corporation Financial statements release, 1–12/2019

Comparable operating profit turned profitable in 2019 28.2.2020 at 1 pm

Tulikivi Corporation                                          
Financial statements release, 1–12/2019: Comparable operating profit turned profitable in 2019
28.2.2020 at 1 pm

- The Tulikivi Group’s fourth-quarter net sales were EUR 8.8 million (EUR 8.7 million, 10–12/2018) and EUR 28.7 million in 2019 (EUR 28.6, 1–12/2018).
- The comparable operating profit was EUR 0.4 million (0.0) in the fourth quarter and EUR 0.0 million (-0.5) in 2019.
- An impairment loss of EUR 0.8 (0.5) million was recognised in Kermansavi’s goodwill.
- The operating profit was EUR -0.5 (-0.5) million in the fourth quarter and the profit before taxes was EUR -0.7 million (-0.7), including a goodwill impairment loss of EUR -0.8 (-0.5) million.
- The operating profit was EUR -0.8 million (-1.0) in 2019 and the profit before taxes was EUR -1.5 million (-1.8), including a goodwill impairment loss of EUR -0.8 million (-0.5).
- Net cash flow from operating activities was EUR 1.1 (0.5) million in the fourth quarter and EUR 1.6 (1.6) million in the financial year.
- The year-end order books stood at EUR 2.9 (3.0) million.
- The sales of the new Karelia and Pielinen fireplace collections grew by 16%.
- The project for the sale of the talc deposits in Suomussalmi is proceeding.
- Future outlook: Net sales are expected to increase in 2020, and the comparable operating profit is expected to be positive.

Key financial ratios
			1-12/19	1-12/18	Change, %			10-12/19	10-12/18	Change, %
Sales, MEUR			28.7	28.6	0.3			8.8	8.7	0.6
Operating profit/loss, MEUR			-0.8	-1.0	24.7			-0.5	-0.5	7.2
Operating profit/loss without impairment loss, MEUR			0.0	-0.5	24.7			0.4	0.0	1660.0
Profit before tax, MEUR			-1.5	-1.8	12.0			-0.7	-0.7	2.9
Total comprehensive income for the period, MEUR			-1.6	-1.8	11.7			-0.7	-0.7	4.6
Earnings per share, Euro			-0.03	-0.03				-0.01	-0.01
Net cash flow from operating activities, MEUR			1.6	1.6				1.1	0.5
Equity ratio, %			23.0	27.4
Net indebtness ratio, %			200.1	156.6
Return on investments, %			-3.0	-3.8				-1.9	-1.9