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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Tulikivi
Tulikivi (TULAV) investor relations material
Tulikivi Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary6 Nov, 2026
Executive summary
9M net sales fell 9.6% YoY to €19.5m; comparable operating loss was €0.7m and reported operating loss €1.1m.
Q3 comparable operating profit improved to €0.3m from €0.2m despite lower sales; order intake rose to €6.6m from €6.4m.
2026 guidance was lowered in October as consumer confidence stalled and demand failed to increase as expected.
Financial highlights
Q3 net sales were €6.0m vs €7.0m YoY; operating profit was €0.1m vs €0.2m, with comparable operating profit of €0.3m vs €0.2m.
9M net sales were €19.5m vs €21.6m; comparable operating profit was -€0.7m vs breakeven, and reported operating profit was -€1.1m vs breakeven.
9M profit before tax was -€1.6m vs -€0.6m; net loss was -€1.6m vs -€0.5m, and EPS was -€0.03 vs -€0.01.
9M ERP renewal one-off costs were €0.4m, including €0.1m in Q3.
Outlook and guidance
FY2026 net sales are expected at €26.5m–€28.5m and comparable operating profit at -€1.0m to breakeven.
Guidance was lowered on 28 October after consumer confidence stopped improving in Finland and Central Europe, affecting purchasing decisions.
Long-term targets: net sales above €50m by end-2030, comparable operating profit above 12% of sales, and equity ratio of at least 40%.
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Latest events from Tulikivi
- Sales and profit fell, but strategic projects and international expansion progressed.TULAV
Q2 2026 - Net sales rose 3.8% but losses widened; strategic projects and outlook remain positive.TULAVQ1 2026
- Net sales fell 11.4% to EUR 29.5 million, with a small operating loss and improved outlook for 2026.TULAVQ4 2025
- Sales and profit fell amid weak demand, but strategic projects and new products progressed.TULAVQ3 2025
- Sales and profit fell, but order intake and strategic projects progressed; outlook is positive.TULAVQ2 2025
- Net sales and profits fell significantly, prompting a downward revision of 2024 guidance.TULAVQ3 2024
- Net sales and profits fell, but cost control and exports supported satisfactory profitability.TULAVQ2 2024
- Net sales fell 28.6% in Q1 2025, but order flow and strategic initiatives showed resilience.TULAVQ1 2025
- 2024 saw lower sales and profit but a stronger balance sheet and positive 2025 outlook.TULAVQ4 2024
Next Tulikivi earnings date
Q4 20265 Mar, 2027
Tulikivi
Next Tulikivi earnings date
Q4 20265 Mar, 2027
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Frequently asked questions
Tulikivi Corporation specializes in the production of heat-retaining fireplaces, sauna heaters, and other related heating solutions. The company focuses on utilizing soapstone and other natural materials to manufacture products that promote energy-efficient heating for residential and commercial applications. Tulikivi’s product portfolio includes fireplaces, ovens, and stoves designed for sustainable heat generation. In addition to heating appliances, the company offers sauna heaters and interior stone products, such as countertops and tiles. Tulikivi serves customers in various markets, particularly in Europe and other regions with a demand for environmentally friendly heating solutions. The company is headquartered in Juuka, Finland, and its shares are listed on the Helsinki Stock Exchange.