)
Tulikivi (TULAV) investor relations material
Tulikivi Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for 2025 were EUR 29.5 million, down 11.4% year-over-year, with a comparable operating loss of EUR -0.1 million versus a profit of EUR 2.1 million in 2024.
Operating profit was impacted by EUR 0.4 million in non-recurring expenses, mainly from winding down Russian operations and ERP system renewal.
The Suomussalmi talc project advanced, with environmental permits and technical trials progressing as planned.
No dividend proposed for 2025; focus remains on strategic investments despite challenging market conditions.
Financial highlights
Q4 net sales were EUR 7.9 million, down 5.8% from Q4 2024; full-year net sales EUR 29.5 million, down 11.4%.
Operating profit for 2025 was EUR -0.6 million (2024: EUR 2.1 million); profit before tax EUR -1.3 million (2024: EUR 1.4 million).
Earnings per share were EUR -0.02 (2024: EUR 0.02); equity ratio at year-end was 48.6% (2024: 51.9%).
Net cash flow from operating activities was EUR 2.9 million (2024: EUR 3.6 million).
Order book at year-end stood at EUR 2.6 million (2024: EUR 2.8 million).
Outlook and guidance
Net sales in 2026 are expected to increase, with comparable operating profit forecasted to improve over 2025.
Long-term target is to exceed EUR 50 million in net sales by 2030, with Jero and sauna heater collections contributing about 30%.
- Sales and profit fell amid weak demand, but strategic projects and new products progressed.TULAV
Q3 20257 Nov 2025 - Sales and profit fell, but order intake and strategic projects progressed; outlook is positive.TULAV
Q2 202515 Aug 2025 - Net sales and profits fell significantly, prompting a downward revision of 2024 guidance.TULAV
Q3 202413 Jun 2025 - Net sales and profits fell, but cost control and exports supported satisfactory profitability.TULAV
Q2 202413 Jun 2025 - Net sales fell 28.6% in Q1 2025, but order flow and strategic initiatives showed resilience.TULAV
Q1 20255 Jun 2025 - 2024 saw lower sales and profit but a stronger balance sheet and positive 2025 outlook.TULAV
Q4 20245 Jun 2025
Next Tulikivi earnings date
Next Tulikivi earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Explore our global coverage
)
)