Tulikivi (TULAV) Q2 2026 earnings summary

Executive summary

• Net sales for H1 2026 were EUR 13.5 million, down 7.5% year-over-year; Q2 net sales were EUR 7.2 million, down 15.5% from Q2 2025.

• Comparable operating profit for H1 was EUR -1.0 million (H1 2025: EUR -0.2 million); Q2 comparable operating profit was EUR -0.2 million (Q2 2025: EUR 0.5 million).

• Strategic projects advanced, including the Suomussalmi talc project and expansion of the Jero fireplace and Kevo sauna heater collections.

• Market share grew in Central Europe, but weak demand and low consumer confidence impacted overall sales.

Financial highlights

• Operating profit for H1 was EUR -1.2 million (H1 2025: EUR -0.2 million); Q2 operating profit was EUR -0.4 million (Q2 2025: EUR 0.5 million).

• Profit before tax for H1 was EUR -1.6 million (H1 2025: EUR -0.6 million); Q2 profit before tax was EUR -0.6 million (Q2 2025: EUR 0.3 million).

• Earnings per share for H1 was EUR -0.03 (H1 2025: EUR -0.01).

• Net cash flow from operating activities was EUR -0.5 million (H1 2025: EUR 0.4 million).

• Order book at period end was EUR 3.2 million (H1 2025: EUR 4.0 million).

Outlook and guidance

• Net sales in 2026 are expected to increase and comparable operating profit to improve on 2025.