Tulikivi Corporation's First Half 2025 Financial Report: Order Intake Continues to Grow Amidst Seasonal Decline in Net Sales

Tulikivi Corporation reported a decline in net sales to EUR 8.5 million in Q2 2025 and EUR 14.6 million in H1 2025 compared to the same periods in 2024. Operating profit was EUR 0.5 million in Q2 and EUR -0.2 million in H1. Order books stood at EUR 4.0 million, and the equity ratio was 49.7%. The company expects net sales and comparable operating profit to improve in 2025 compared to 2024.

Tulikivi Corporation, a leading manufacturer of fireplaces, sauna heaters, and interior stone products, has released its half-year financial report for the period ending June 2025. The company reported a decline in net sales to EUR 8.5 million in Q2 2025 and EUR 14.6 million in H1 2025 compared to the same periods in 2024. Operating profit was EUR 0.5 million in Q2 and EUR -0.2 million in H1. Order books stood at EUR 4.0 million, and the equity ratio was 49.7% [1].

The company's net sales in Q2 2025 were EUR 8.5 million, down from EUR 9.3 million in Q2 2024, a decrease of 8.5%. For H1 2025, net sales were EUR 14.6 million, a significant drop from EUR 17.8 million in H1 2024, representing an 18.0% decline [1]. The operating profit was EUR 0.5 million in Q2 2025, up from EUR 0.8 million in Q2 2024, but the operating loss for H1 2025 was EUR -0.2 million, a sharp decline from EUR 1.1 million in H1 2024, representing a 117.4% decrease [1].

Despite the financial challenges, Tulikivi Corporation's balance sheet remained strong, with an equity ratio of 49.7% at the end of the review period. The company's order books stood at EUR 4.0 million, indicating continued demand for its products. Tulikivi Corporation expects net sales and comparable operating profit to improve in 2025 compared to 2024 [1].

Heikki Vauhkonen, Managing Director of Tulikivi Corporation, attributed the decline in net sales to the seasonal nature of the fireplace industry and general economic uncertainty, which led consumers to postpone their renovation and new construction projects. However, he noted that the company's order flow grew moderately in the second quarter, and the strategic projects, such as expanding the sales and distribution network for the new compact Jero collection in Central Europe, are progressing as planned [1].

Tulikivi Corporation's financial performance in the first half of 2025 contrasts with the strong performance of Fawry for Banking Technology and Electronic Payment, which reported a 99.9% increase in net profits after tax in H1 2025 compared to H1 2024 [2]. Fawry's net profits after tax climbed to EGP 1.255 billion in the first six months of 2025, an annual leap of 99.9% from EGP 628.771 million [2].

In conclusion, Tulikivi Corporation's half-year financial report for 2025 shows a mixed bag of results. While net sales and operating profit declined, the company's balance sheet remains strong, and strategic projects are making progress. Investors should closely monitor the company's performance as it navigates the challenges of the fireplace industry and economic uncertainty.

References:
[1] https://www.globenewswire.com/news-release/2025/08/15/3134139/0/en/Tulikivi-Corporation-half-year-financial-report-1-6-2025-Order-intake-continued-to-grow.html
[2] https://www.zawya.com/en/economy/north-africa/egypt-fawrys-consolidated-profits-leap-999-yoy-in-h1-2025-a9jxw7mw