Tulikivi is revising downward and focusing its guidance for 2024: Net sales are expected to be EUR 33 to 37 million and comparable operating profit is expected to be approximately EUR 2 to 3 million

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TULIKIVI CORPORATION  INSIDER INFORMATION  16 OCTOBER 2024, AT 11:00 PM

Tulikivi is revising downward and focusing its guidance for 2024: Net sales are expected to be EUR 33 to 37 million and comparable operating profit is expected to be approximately EUR 2 to 3 million.

Tulikivi is revising downward and focusing its earlier estimate of the 2024 net sales and operating profit. The net sales in 2023 were EUR 45.3 million and the comparable operating profit was EUR 5.5 million. According to the new estimate, net sales in 2024 are expected to be EUR 33 to 37 million and the comparable operating profit is expected to be approximately EUR 2 to 3 million. The reason for reviewing the forecasts is the weaker-than-expected recovery in demand in the main market areas, especially in Germany, for both the fireplaces and cladding stones.

Previous guidance for 2024 (originally published on March 1, 2024): Net sales in 2024 are expected to be EUR 37 to 44 million and the comparable operating profit is expected to be approximately EUR 3 to 5 million.

TULIKIVI CORPORATION

Board of Directors

Further information: Heikki Vauhkonen, Managing Director, tel. +358 (0)40 524 5593

Distribution: Nasdaq Helsinki
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www.tulikivi.com