contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    pageUrl
    id
  }
  tags {
    name
    id
  }
  ... on Video {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
  ... on Webcast {
    liveTime
    videoUrl
    videoEmbedUrl(location: "inderes")
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
      researchContentUrl
      researchContent {
        title
        lang
        pdfUrl
        relatedContent {
          __typename
          ...PublishingDetails
          ...Reactions
          id
        }
        content {
          title
          lang
          slug
          htmlBody
          publishedAt
          createdAt
          changedAt
          isOutdated
          isPremium
        }
      }
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


tulikivi-corporation-decision-of-the-board-on-capital-repayment

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Tulikivi is a manufacturer of wood-burning stoves. The product range is wide and includes stoves made of soapstone. In addition to the main business, the company also offers sauna heaters adapted for both electric and wood-fired saunas, as well as interior stones for kitchens, bathrooms and saunas. The largest operations are in the Nordic region, where the products are sold through external retailers. The head office is located in Juuka.

It is bulk sales of slowly renewable or non-renewable raw materials. It is not innovative value creation, which the company has not been able to achieve effectively. By the way, where is the internet’s Tulikivi spammer?

I personally do not believe in significant (over 20%) growth in the fireplace business over the next 3 years. In contrast, there is substantial growth potential in the sauna business, though it will require work and time. The products are good, and there is a solvent customer base abroad for heaters that are more expensive than average. Approvals for Japan and the USA are still pending. The talc business is not just “selling off the backwoods,” as the most likely scenario is that Tulikivi will remain a significant owner in Nordic Talc Oy. According to current understanding, magnesite is not just a side stream, but will be a second main product. In this case, the utilization rate of the mined ore, excluding waste rock, would be 75–80%. Today is the last day of the public notice period for the permit application. My understanding is that it is not so much a question of whether the permit will be granted, but rather the stringency of the permit conditions. In the best-case scenario, the permit decision will be made by the end of June, including a permit to start preparatory measures despite any appeals. If things progress according to these steps, the company will announce the financing for the project before the autumn colors shine in Suomussalmi. Personally, I find it difficult to call this “logging the backwoods,” but everyone makes their own assessments, and the above is not an investment recommendation.

Here is Tulikivi’s 2020s post-COVID era well-summarized: “In our view, the stock’s valuation looks challenging due to the pressured earnings performance, leaving significant expectations reliant on the speculative realization of the talc project’s value” In plain English and layman’s terms: The core business and its products simply cannot achieve enough growth and margins to keep food on the table. Peace of mind and faith in financial security rest solely on the plans to sell off the backwoods. What kind of farmer and master is that? I’m just asking.

Here is a company report from Thomas following Tulikivi’s Q1 report  Tulikivi’s revenue exceeded our expectations, driven by export revenue turning back to growth. Despite the recovery in exports, the order intake contracted from the previous year, leaving work to be done to reach guidance. In our view, the valuation of the share appears challenging due to the pressurized earnings performance, leaving significant expectations reliant on the speculative realization of the talc project’s value. We reiterate our sell recommendation, but raise our target price to EUR 0.40 (prev. EUR 0.38) driven by forecast changes. Quote from the report: Balance sheet position has become tight due to weakened earnings performance At the end of Q1’26, Tulikivi’s net debt stood at EUR 12.3 million, and the gearing ratio was 77%. Relative to the last 12 months’ EBITDA, net debt was at a very high level of 6.7x, which limits the company’s investment capacity and underscores the pressure to strengthen earnings performance and the balance sheet position. Despite the weak result at the beginning of the year, net cash flow from operating activities settled at a slightly better level than the comparison period at EUR -0.6 million (Q1’25: EUR -0.8 million), supported by released working capital.                   Inderes              Tulikivi Q1'26: Viennissä piristymisen merkkejä - Inderes    Tulikiven liikevaihto ylitti odotuksemme kasvuun kääntyneen vientiliikevaihdon ajamana. Viennin elpymisestä huolimatta tilausvirta supistui edellisvuodesta.

One would assume that domestic sales took at least a slight hit due to the news coverage regarding the Russian business operations. Based on my understanding, official permits for electric heaters in the USA and Japan are still pending, so there won’t be any help for revenue from there in Q1 yet. Hopefully, the permits are obtained ASAP. It would be good to hear from the company regarding the progress of expanding sauna heater sales channels in Europe, along with more detailed information on revenue and its development. Regarding the talc project, the situation is intriguing, and the licensing authority’s decision will likely be made before autumn. Whether someone will appeal remains to be seen. The probable utilization of magnesite will significantly improve the mine’s profitability, if AI is to be trusted.

Here are Thomas’s pre-match thoughts, as Tulikivi reports its results on Friday  We expect the company’s revenue to remain at the level of the comparison period, but the seasonal loss to have deepened slightly as a result of the sales mix and cost inflation. In our estimation, Tulikivi’s demand environment remained muted during the seasonally weak review period, which is highlighted by a smaller order backlog at the turn of the year compared to the previous year. On the results day, our attention will be particularly focused on management’s comments regarding the demand outlook and the development of order flow in a challenging market situation.                   Inderes – 7 May 26              Tulikivi Q1'26 -ennakko: Kotipesä lämmittää viennin viimassa - Inderes    Odotamme liikevaihdon pysyneen vertailukauden tasolla, mutta kausiluonteisen tappion syventyneen  myynnin rakenteen ja kustannusinflaation ajamana.

Here is a company report from Thomas following the Q4 results  The main features of Tulikivi’s Q4 report were already known due to the profit warning issued in February. We have slightly lowered our growth forecasts for the coming years, driven by the sluggish Q4 order flow, although we recognize that the recent rise in consumer energy prices is a potential demand driver for fireplaces. In our view, the share price is pricing in an unnecessarily strong earnings turnaround; as a result, we reiterate our sell recommendation and target price of EUR 0.38. Quotes from the report: Financial targets updated to 2030 Tulikivi updated its financial targets in connection with the Q4 report. The company is still targeting revenue of EUR 50 million and an operating profit margin of over 12%, but the target year was moved from 2027 to 2030. The company’s growth target relies heavily on the new Jero fireplace collection and the sauna product category, through which it aims for a total revenue of approximately EUR 15 million. In recent years, the company has done significant work to promote its exports, which is not yet reflected in the figures due to the effects of pulled-forward demand. The company’s goal is to increase the total number of retail outlets for fireplace exports from the level at the end of 2023 (330 outlets) to 500 outlets by the end of 2026. At the end of 2025, the number of outlets was already around 460, which is nearly on target. We are eyeing the environm                   Inderes              Tulikivi Q4'25: Kallis kivi viileässä markkinassa - Inderes    Olemme hieman laskeneet lähivuosien kasvuennusteitamme vaisun Q4-tilausvirran ajamana, joskin tunnistamme viime aikoina kohonneen kuluttajaenergiahinnan tulisijojen potentiaaliseksi kysyntäajuriksi.

Tulikivi

TULIKIVI CORPORATION STOCK EXCHANGE RELEASE 17 SEPTEMBER 2025 AT 16:00 The Board of Directors of Tulikivi Corporation has today, based on the authorization given to it by the Annual General ...

TULIKIVI CORPORATION&nbsp; STOCK EXCHANGE RELEASE&nbsp; 17 SEPTEMBER 2025 AT 16:00 The Board of Directors of Tulikivi Corporation has today, based on the authorization given to it by the Annual General Meeting on April 25, 2025, decided that a capital repayment will be distributed from the company's invested unrestricted equity fund as previously announced in the notice of the Annual General Meeting: EUR 0.01 per Series A share and EUR 0.0083 per Series K share. The capital repayment will be paid to shareholders who are registered in the company's shareholder register maintained by Euroclear Finland Oy on the record date of October 6, 2025. The capital repayment will be paid on October 15, 2025, after which the Board of Tulikivi will no longer have authorization for distribution of assets. TULIKIVI CORPORATION Board of Directors Further information: Heikki Vauhkonen, Managing Director, tel. +358 (0)40&nbsp;524 5593 Distribution: Nasdaq Helsinki, key media <a href="https://www.globenewswire.com/Tracker?data=0y2Yg0YvPcyVE3NtiDUcy-CZnqeeWMsKUgvFDt6U1GOLTMyqMehdUFiXRsmJtbigIi-SsP0BNXlW_nIsyDkUONihJHLOcr93y1wh7dka6rk=">www.tulikivigroup.com</a> <img src="https://www.globenewswire.com/newsroom/ti?nf=MTAwMTEyODQ4NSM0MDIyMTQ3MjcjMjA5NTA3Mw==" alt=""> <img src="https://ml-eu.globenewswire.com/media/MGRkYTdjNzktMWMzYS00Y2JjLTg0YjQtMmFkYmY1MWMyNTc5LTExMDY2NDQtMjAyNS0wOS0xNy1lbg==/tiny/Tulikivi-Oyj.png" alt="">

Tulikivi Corporation: Decision of the Board on capital repayment

Tulikivi Corporation: Decision of the Board on capital repayment