Finland's Tulikivi Q2 net sales fall on weak market demand
Finland's Tulikivi Q2 net sales fall on weak market demand
Overview
Finland fireplace and sauna maker's Q2 net sales fell 15% yr/yr
Q2 operating profit turned negative amid weak market demand and low volumes
Company expects 2026 net sales and comparable operating profit to improve on 2025
Outlook
Tulikivi expects 2026 net sales to increase and comparable operating profit to improve on 2025
Company plans to launch sauna heater sales in North America in Q3 2026
Tulikivi aims to expand fireplace export dealer locations to 500 by end-2026
Result Drivers
LOW CONSUMER CONFIDENCE - Co said continued low consumer confidence and general uncertainty in main markets led consumers to postpone renovation and new construction projects
WEAK MARKET DEMAND - Co said market demand was modest, with the German fireplace market performing particularly weakly
ERP MODERNISATION COSTS - Co recorded non-recurring expenses of EUR 0.3 mln for ERP system modernisation in the review period
Company press release: ID:nGNE7Xvqn1
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| EUR 7.20 mln |
|
Q2 Loss Per Share |
| EUR 0.01 |
|
Q2 Adjusted Free Cash Flow |
| EUR 100,000 |
|
Q2 Operating Profit |
| -EUR 400,000 |
|
Q2 Pretax Loss |
| EUR 600,000 |
|
Analyst Coverage
The one available analyst rating on the shares is "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Tulikivi Oyj is €0.40, about 24.5% below its August 13 closing price of €0.53
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 34 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)