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Nordic Fibreboard AS
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54930002HOIXBD15OM06
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Majandustegevusalad
Finants- ja kindlustustegevus
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Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
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17446
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Esitamise kuupäev ja aeg
30.05.2025 15:43:12
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Nordic Fibreboard AS 2025. aasta I kvartali majandustulemused
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JUHTKONNA ARUANNE Nordic Fibreboard AS konsolideeritud müügitulu oli 2025. aasta 1. kvartalis 1,74 miljonit eurot, mis oli 11% langust võrreldes eelmise aasta sama perioodiga (2024. aasta 1. kvartalis 1,97 miljonit eurot). Kontserni peamine tegevusala on puitkiudplaadi tootmine ja hulgimüük, mille müügitulu 2025. aasta 1. kvartalis oli 1,73 miljonit eurot (2024. aasta 1. kvartalis 1,95 miljonit eurot). Ülejäänud segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine, mille müügitulu 2025. aasta 1. kvartalis oli 1 tuhat eurot (2024. aasta 1 kvartalis 12 tuhat eurot. 2025. aasta 1. kvartali ja 2024. aasta sama perioodi müügimahtude peamine erinevus on tingitud müügi vähenemisest Aasia, Lähis-Ida ja Aafrika turgudele. Pärnu Riverside Development OÜ kinnisvara haldamise müügitulu Suur-Jõe tänava kinnistul vähenes 2025. aasta 1. kvartalis võrreldes 2024. aasta 1. kvartaliga rendilepingute lõpetamise tõttu 2024. aasta augustis. Rendilepingud lõpetati tootmishoone kompleksi eripärade tõttu, mis põhjustasid kõrgeid halduskulusid, mida renditulud ei suutnud katta. Nordic Fibreboard konsolideeritud EBITDA oli 2025. aasta 1. kvartalis negatiivne 85 tuhat eurot, EBITDA rentaablus negatiivne 5% (2024. aasta 1. kvartali EBITDA positiivne 53 tuhat eurot ning EBITDA rentaablus positiivne 3%). Võrreldes 2024. aasta 1. kvartaliga langes Kontserni brutomarginaal 19%-lt 2025. aasta 1. kvartalis 15%-le, mis näitab, et Kontserni 2025. aasta 1. kvartali kasumlikkus on võrreldes eelmise aasta sama perioodiga langenud. 2025. aasta 1. kvartali finantstulud olid 40 tuhat eurot, mis koosnesid Trigon Property Development (TPD) aktsiate ümberhindlusest (2024. aasta 1. kvartalis 56 tuhat eurot). TPD aktsiad müüdi 21.02.2025 ning viimane ümberhindlus teostati 19.02.2025 sulgemishinnaga ehk 0,67 eurot aktsia kohta. Finantskulud 2025. aasta 1. kvartalis olid 51 tuhat eurot, mis koosnesid laenuintressikuludest summas 46 tuhat eurot ning muudest finantskuludest summas 5 tuhat eurot (2024. aasta 1. kvartalis 54 tuhat eurot, mis koosnes laenuintressikuludest). Kontserni 2025. aasta 1. kvartali konsolideeritud puhaskahjum oli 228 tuhat eurot (2024. aasta 1. kvartalis puhaskahjum 73 tuhat eurot). ÄRIVALDKONDADE ÜLEVAADE Müügitulu ärisegmentide lõikes +-----------------------------+-----------+-----------+ | tuh EUR | I kv 2025 | I kv 2024 | +-----------------------------+-----------+-----------+ | Kiudplaadi tootmine ja müük | 1 734 | 1 949 | +-----------------------------+-----------+-----------+ | Kinnisvara haldamine | 1 | 12 | +-----------------------------+-----------+-----------+ | KOKKU | 1 735 | 1 961 | +-----------------------------+-----------+-----------+ Kasum ärisegmentide lõikes +----------------------------------+-----------+-----------+ | tuh EUR | I kv 2025 | I kv 2024 | +----------------------------------+-----------+-----------+ | EBITDA ärisegmentide lõikes: | | | +----------------------------------+-----------+-----------+ | Kiudplaadi tootmine ja müük | (62) | 62 | +----------------------------------+-----------+-----------+ | Kinnisvara haldamine | (21) | (11) | +----------------------------------+-----------+-----------+ | Elimineerimine | (2) | 2 | +----------------------------------+-----------+-----------+ | KOKKU EBITDA | (85) | 53 | +----------------------------------+-----------+-----------+ | Põhivara kulum ja amortisatsioon | (132) | (128) | +----------------------------------+-----------+-----------+ | KOKKU ÄRIKASUM/-KAHJUM | (217) | (75) | +----------------------------------+-----------+-----------+ | Neto finantskulud | (11) | 2 | +----------------------------------+-----------+-----------+ | PUHASKASUM/-KAHJUM | (228) | (73) | +----------------------------------+-----------+-----------+ Nordic Fibreboard Ltd: kiudplaadi tootmine ja müük Puitkiudplaadi müügitulu oli 2025. aasta 1. kvartalis 1,73 miljonit eurot (2024. aasta 1. kvartalis 1,95 miljonit eurot). Suurima välisturu, Soome, müügimaht oli 2025. aasta 1. kvartalis 614 tuhat eurot, mis on 58 tuhande euro võrra väiksem kui 2024. aasta 1. kvartalis. Müügikasvu on täheldatud Baltikumi turul, kus müügi kasv, võrreldes eelmise aasta sama perioodiga, oli 110 tuhat eurot, ning müügitulu kokku oli 633 tuhat eurot (2024. aasta 1. kvartalis 523 tuhat eurot). Võrreldes eelmise aasta sama perioodiga on 2025. aasta 1. kvartalis müük Aafrikasse vähenenud ning Aasia ja Lähis-Ida klientidele müüki ei toimunud. Puitkiudplaadi segmendi 2025. aasta 1. kvartali EBITDA oli negatiivne 62 tuhat eurot, (2024. aasta 1. kvartalis positiivne 62 tuhat eurot). Puitkiudplaadi segmendi 2025. aasta 1. kvartali puhaskahjum oli 204 tuhat eurot (2024. aasta 1. kvartalis puhaskahjum 63 tuhat eurot). KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT +------------------+-----------+-----------+ | tuh EUR | I kv 2025 | I kv 2024 | +------------------+-----------+-----------+ | Euroopa Liit | 1 639 | 1 692 | +------------------+-----------+-----------+ | Aafrika | 87 | 167 | +------------------+-----------+-----------+ | Aasia | 0 | 61 | +------------------+-----------+-----------+ | Lähis-Ida | 0 | 15 | +------------------+-----------+-----------+ | Teised regioonid | 8 | 14 | +------------------+-----------+-----------+ | KOKKU | 1 734 | 1 949 | +------------------+-----------+-----------+ Pärnu Riverside Development: Kinnsvara haldus Pärnu Riverside Development OÜ omab kinnisvara Pärnu linnas asukohaga Suur-Jõe tänav 48. Kinnisvarahaldusest saadud renditulu oli 2025. aasta 1. kvartalis 1 tuhat eurot (2024. aasta 1. kvartalis 12 tuhat eurot), müügitulu vähenemine oli tingitud rendilepingute lõpetamiste tõttu 2024. aasta teises pooles. Rendilepingute lõpetamise otsus tulenes tootmishoone kompleksi eripäradest, mis põhjustasid kõrgeid halduskulusid ja mida ei olnud võimalik rendituludega katta. Kinnisvarahalduse 2025. aasta 1. kvartali EBITDA oli negatiivne 21 tuhat eurot ning puhaskahjum 21 tuhat eurot (2024. aasta 1. kvartalis EBITDA negatiivne 11 tuhat eurot ning puhaskahjum 11 tuhat eurot). Konsolideeritud finantsseisundi ja rahavoogude aruanne Seisuga 31.03.2025 olid Nordic Fibreboard AS varad kokku 8,7 miljonit eurot (31.03.2024: 9,1 miljonit eurot). Kontserni kohustised kokku seisuga 31.03.2025 olid 5,3 miljonit eurot (31.03.2024: 4,8 miljonit eurot), milledest Kontsernil võlgnevusi tarnijatele seisuga 31.03.2025 oli 1,0 miljonit eurot (31.03.2024: samuti 1,0 miljonit eurot) ning laenukohustisi 3,8 miljonit eurot (31.03.2024: 3,3 miljonit eurot). Nõuded ja ettemaksed olid kokku 1,3 miljonit eurot seisuga 31.03.2025 (31.03.2024: 1,1 miljonit eurot). Varud seisuga 31.03.2025 olid 0,9 miljonit eurot (31.03.2024: 0,8 miljonit eurot). Kontserni põhivarad kokku seisuga 31.03.2025 olid 6,4 miljonit eurot (31.03.2024: 7,3 miljonit eurot). Kontserni äritegevuse tulemuseks 2025. aasta 1. kvartalis oli negatiivne rahavoog 528 tuhat eurot (2024. aasta 1. kvartalis negatiivne rahavoog 9 tuhat eurot). Investeerimistegevuse tulemuseks oli 2025. aasta 1. kvartalis positiivne rahavoog summas 471 tuhat eurot, mis koosnes tehtud investeeringutest tootmisvaradesse summas 64 tuhat eurot ning kinnisvarainvesteeringusse summas 4 tuhat eurot ning 539 tuhat eurot saadi finantsvarade (TPD aktsiad) müügist (2024. aasta 1. kvartalis negatiivne rahavoog 90 tuhat eurot). Finantseerimistegevusest oli sissetulev rahavoog 2025. aasta 1. kvartalis 84 tuhat eurot (2024. aasta 1. kvartali väljaminev rahavoog 98 tuhat eurot). 2025. aasta 1. kvartali netorahavoo tulemuseks oli positiivne rahavoog summas 27 tuhat eurot (2024. aasta 1. kvartalis negatiivne rahavoog summas 1 tuhat eurot). TULEVIKU VÄLJAVAADE Nordic Fibreboard Ltd 2025. aasta on endiselt väljakutsete rohke, eriti ehitussektoris. Nordic Fibreboardi suurim eksporditurg on Soome, mis moodustab üle 30% ettevõtte kogumüügist ning kus suurem osa müügist toimub just ehitussektorile. Paraku ei ole Soome turg seni müügikasvu näidanud. Siiski on ettevõte teinud esimeses kvartalis edusamme, sõlmides mitmete uute klientidega koostöölepinguid kaupade tarnimiseks. Müügimahtude kasvatamine on ka 2025. aastal Nordic Fibreboardi peamine prioriteet. Vaatamata keerulisele majanduskeskkonnale tegutseb Nordic Fibreboard tulevikku vaadates. Ettevõte plaanib uuendada ja täiustada oma digilahendusi ning investeerida tehase energiasüsteemide moderniseerimisse. Pärnu Riverside Development 2025. aasta alguses jaotati Pärnu Riverside Development OÜ-le kuuluv Suur-Jõe 48 kinnistu kinnitatud detailplaneeringu alusel ja maatoimingute käigus, mille alusel tekkis 10 eraldiseisvat kinnistut, millest 5 kinnistut on elamumaa (Admirali1/3, Admirali 5/7, Admirali 9/11, Admirali 2/4/6 ja Admirali 13/15), 1 ärimaa ( Suur-Jõe 48) , 3 transpordimaad (Admirali tänav T1, T2 ja T3) ja 1 ühiskondlike ehitiste maa (Admirali tn.11A) funktsiooniga. 2025. aastal jätkatakse planeeritava äri- ja elamurajooni teede ja trasside ning hoonete projekteerimisega ehituslubade taotlemiseks. FINANTSSUHTARVUD +--------------------------------------------+ | tuh EUR | +--------------------+-----------+-----------+ | Kasumiaruanne | I kv 2025 | I kv 2024 | +--------------------+-----------+-----------+ | Müügitulu | 1 735 | 1 961 | +--------------------+-----------+-----------+ | EBITDA | (85) | 53 | +--------------------+-----------+-----------+ | EBITDA rentaablus | (5%) | 3% | +--------------------+-----------+-----------+ | Ärikasum/-kahjum | (217) | (75) | +--------------------+-----------+-----------+ | Ärirentaablus | (13%) | (4%) | +--------------------+-----------+-----------+ | Puhaskasum/-kahjum | (228) | (73) | +--------------------+-----------+-----------+ | Puhasrentaablus | (13%) | (4%) | +--------------------+-----------+-----------+ +--------------------------------------------------------------------+ | tuh EUR | +------------------------------------------+------------+------------+ | Bilanss | 31.03.2025 | 31.12.2024 | +------------------------------------------+------------+------------+ | Koguvarad | 8 722 | 9 090 | +------------------------------------------+------------+------------+ | Koguvarade puhasrentaablus | (3%) | (1%) | +------------------------------------------+------------+------------+ | Omakapital | 3 388 | 4 329 | +------------------------------------------+------------+------------+ | Omakapitali puhasrentaablus | (7%) | (2%) | +------------------------------------------+------------+------------+ | Võlakordaja | 61% | 52% | +------------------------------------------+------------+------------+ +------------------------------------------+------------+------------+ | Aktsia | 31.03.2025 | 31.12.2024 | +------------------------------------------+------------+------------+ | Aktsia viimane hind (EUR)* | 0,85 | 0,79 | +------------------------------------------+------------+------------+ | Puhaskasum aktsia kohta (EUR) | (0,21) | (0,04) | +------------------------------------------+------------+------------+ | Hind-tulu (PE) suhtarv | (4,06) | (22,57) | +------------------------------------------+------------+------------+ | Aktsia raamatupidamisväärtus (EUR) | 0,75 | 0,96 | +------------------------------------------+------------+------------+ | Turuhinna ja raamatupidamisväärtuse suhe | 1,13 | 0,82 | +------------------------------------------+------------+------------+ | Turukapitalisatsioon (tuh EUR) | 3 824 | 3 554 | +------------------------------------------+------------+------------+ | | | 4 499 061 | | Aktsiate arv (tk) | 4 499 061 | | +------------------------------------------+------------+------------+ KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE +----------------------------------+----------+----------+----------+----------+ |tuh EUR |31.03.2025|31.12.2024|31.03.2024|31.12.2023| +----------------------------------+----------+----------+----------+----------+ |Raha ja raha ekvivalendid | 80| 53| 6| 7| +----------------------------------+----------+----------+----------+----------+ |Nõuded ja ettemaksed (Lisa 2) | 1 256| 571| 1 082| 534| +----------------------------------+----------+----------+----------+----------+ |Varud (Lisa 3) | 945| 624| 749| 728| +----------------------------------+----------+----------+----------+----------+ |Kokku käibevarad | 2 281| 1 248| 1 837| 1 269| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Kinnisvarainvesteeringud (Lisa 4) | 2 384| 2 380| 2 269| 2 269| +----------------------------------+----------+----------+----------+----------+ |Finantsvarad õiglases väärtuses | | | | | |muutustega läbi kasumiaruande | | | | | |(Lisa 7) | 0| 499| 547| 491| +----------------------------------+----------+----------+----------+----------+ |Materiaalne põhivara ja vara | | | | | |kasutusõigus (Lisa 5) | 4 055| 4 122| 4 436| 4 475| +----------------------------------+----------+----------+----------+----------+ |Immateriaalne põhivara (Lisa 6) | 2| 3| 1| 1| +----------------------------------+----------+----------+----------+----------+ |Kokku põhivarad | 6 441| 7 004| 7 253| 7 236| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |KOKKU VARAD | 8 722| 8 252| 9 090| 8 505| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Võlakohustised (Lisa 8) | 855| 1 111| 654| 556| +----------------------------------+----------+----------+----------+----------+ |Võlad ja ettemaksed (Lisa 9) | 1 379| 788| 1 322| 756| +----------------------------------+----------+----------+----------+----------+ |Lühiajalised eraldised (Lisa 10) | 16| 21| 15| 21| +----------------------------------+----------+----------+----------+----------+ |Kokku lühiajalised kohustised | 2 250| 1 920| 1 991| 1 333| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Pikaajalised võlakohustised (Lisa | | | | | |8) | 2 953| 2 613| 2 659| 2 659| +----------------------------------+----------+----------+----------+----------+ |Pikaajalised eraldised (Lisa 10) | 94| 94| 111| 111| +----------------------------------+----------+----------+----------+----------+ |Muud pikaajalised kohustised | 37| 9| 0| 0| +----------------------------------+----------+----------+----------+----------+ |Kokku pikaajalised kohustised | 3 084| 2 716| 2 770| 2 770| +----------------------------------+----------+----------+----------+----------+ |Kokku kohustised | 5 334| 4 636| 4 761| 4 103| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Aktsiakapital (nominaalväärtuses) | | | | | |(Lisa 11) | 450| 450| 450| 450| +----------------------------------+----------+----------+----------+----------+ |Kohustuslik reservkapital | 45| 45| 45| 45| +----------------------------------+----------+----------+----------+----------+ |Jaotamata kasum | 2 893| 3 121| 3 834| 3 907| +----------------------------------+----------+----------+----------+----------+ |Kokku omakapital | 3 388| 3 616| 4 329| 4 402| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ | | | | | 8 505| |KOKKU KOHUSTISED JA OMAKAPITAL | 8 722| 8 252| 9 090| | +----------------------------------+----------+----------+----------+----------+ KONSOLIDEERITD KASUMI- JA MUU KOONDARUANNE +----------------------------------------------------------+---------+---------+ |tuh EUR |I kv 2025|I kv 2024| +----------------------------------------------------------+---------+---------+ |Müügitulu (Lisa 13) | 1 735| 1 961| +----------------------------------------------------------+---------+---------+ |Müüdud toodangu kulu (Lisa 14) | (1 608)| (1 713)| +----------------------------------------------------------+---------+---------+ |Brutokasum (-kahjum) | 127| 248| +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ |Turustuskulud (Lisa 15) | (228)| (226)| +----------------------------------------------------------+---------+---------+ |Üldhalduskulud (Lisa 16) | (111)| (97)| +----------------------------------------------------------+---------+---------+ |Muud äritulud (Lisa 18) | 0| 0| +----------------------------------------------------------+---------+---------+ |Muud ärikulud (Lisa 18) | (5)| (0)| +----------------------------------------------------------+---------+---------+ |Ärikasum (-kahjum) | (217)| (75)| +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ |Finantstulud (Lisa 19) | 40| 56| +----------------------------------------------------------+---------+---------+ |Finantskulud (Lisa 19) | (51)| (54)| +----------------------------------------------------------+---------+---------+ |KASUM (-KAHJUM) ENNE TULUMAKSUSTAMIST | (228)| (73)| +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ |ARUANDEPERIOODI PUHASKASUM (-KAHJUM) KOKKU | (228)| (73)| +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ |Tava perioodi puhaskasum (-kahjum) aktsia kohta (Lisa 12) | (0,05)| (0,02)| +----------------------------------------------------------+---------+---------+ |Lahustatud perioodi puhaskasum (-kahjum) aktsia kohta | | | |(Lisa 12) | (0,05)| (0,02)| +----------------------------------------------------------+---------+---------+ KONSOLIDEERITUD RAHAVOOGUDE ARUANNE +--------------------------------------------------------+---------+---------+ |tuh EUR |I kv 2025|I kv 2024| +--------------------------------------------------------+---------+---------+ |Äritegevuse rahavood | | | +--------------------------------------------------------+---------+---------+ |Ärikasum (-kahjum) | (217)| (75)| +--------------------------------------------------------+---------+---------+ |Korrigeerimised: | | | +--------------------------------------------------------+---------+---------+ |Kulum (Lisa 5; 6) | 132| 128| +--------------------------------------------------------+---------+---------+ |Nõuete ja ettemaksete muutus (Lisa 2) | (685)| (548)| +--------------------------------------------------------+---------+---------+ |Varude muutus (Lisa 3) | (321)| (21)| +--------------------------------------------------------+---------+---------+ |Äritegevusega seotud kohustiste muutus (Lisa 9) | 619| 566| +--------------------------------------------------------+---------+---------+ |Eraldiste muutus (Lisa 10) | (5)| (5)| +--------------------------------------------------------+---------+---------+ |Äritegevusega genereeritud rahavood | (477)| 45| +--------------------------------------------------------+---------+---------+ |Intressimaksed (Lisa 8; 19) | (45)| (51)| +--------------------------------------------------------+---------+---------+ |Muud finantstulud ja -kulud | (6)| (3)| +--------------------------------------------------------+---------+---------+ |Äritegevuse rahavood kokku | (528)| (9)| +--------------------------------------------------------+---------+---------+ | | | | +--------------------------------------------------------+---------+---------+ |Investeerimistegevuse rahavood | | | +--------------------------------------------------------+---------+---------+ |Materiaalse ja immateriaalse põhivara soetus (Lisa 5; 6)| (64)| (90)| +--------------------------------------------------------+---------+---------+ |Kinnisvarainvesteeringu soetus (Lisa 4) | (4)| 0| +--------------------------------------------------------+---------+---------+ |Finantsvarade müük (Lisa 7) | 539| 0| +--------------------------------------------------------+---------+---------+ |Investeerimistegevuse rahavood kokku | 471| (90)| +--------------------------------------------------------+---------+---------+ | | | | +--------------------------------------------------------+---------+---------+ |Finantseerimistegevuse rahavood | | | +--------------------------------------------------------+---------+---------+ |Saadud laenude tagasimaksed (Lisa 8) | (55)| (52)| +--------------------------------------------------------+---------+---------+ |Saadud laenud seotud osapooltelt (Lisa 8) | 140| 0| +--------------------------------------------------------+---------+---------+ |Rendikohustiste põhiosa tagasimaksed (Lisa 8) | (6)| (5)| +--------------------------------------------------------+---------+---------+ |Arvelduskrediidi muutus (Lisa 8) | 5| 155| +--------------------------------------------------------+---------+---------+ |Finantseerimistegevuse rahavood kokku | 84| 98| +--------------------------------------------------------+---------+---------+ | | | | +--------------------------------------------------------+---------+---------+ |RAHA JA RAHA EKVIVALENTIDE MUUTUS | 27| (1)| +--------------------------------------------------------+---------+---------+ |RAHA JA RAHA EKVIVALENTID PERIOODI ALGUSES | 53| 7| +--------------------------------------------------------+---------+---------+ |RAHA JA RAHA EKVIVALENTID PERIOODI LÕPUS | 80| 6| +--------------------------------------------------------+---------+---------+ Enel Äkke Juhatuse liige +372 55525550 [email protected] (https://www.globenewswire.com/Tracker?data=FhlL_uYVefU_2dG8Y7wvn7rouqX8dU1ABcmT AcmGzhpF65LAOF0QD-ADoLt3nt_1NvSxllJLSbRbFP_O0L2c7Y07K- AS5Ged4pFL0alsIAB5lK1rOu7fSKgmOAjlHKyzInOTOQF39FbC03bN4pSOXQt7LnBTTvtjQE_IVpH9jw UKJsXkVqNBo4Tc2XgQ7ASOSs4C77JAJHu81U_hWpd7UYEbbHO3hr2tX1WaWRqlnlDB- 8OMDSH29UdXIZEuZ9xmPwl9hmfVqP0djcWuOM8yFv1VrSYK4Lj-7Z5NsfLnVweyZFlM1oal4t5Uqj95T 3Ff8LsOxkz4mi5eL3Zr78noga2MRAm3pvR8lwdau18wnCVWjCylMqfIKnyqy5FxlcVTgIBm56IBtjv1v MfHrKFTuEFwhCFaZOx2AGjEU6g_K_t_OqCcKA8Y0sqN24sgrWa3Npjk_1h8jmqPltP4UgEqEZ4vJ8htl myP_zsPDGAOO83k2_GWb86St8kO9cqGTcvxIj3enJZTKLPYdexpbWQZeneO8N_jsAPHyBxxnFR5HeHli eeArZrU5YWpDucn88Rcovsamt83CtOsPHN_Hp5jZboN0kvFMK4uhg6z27xoEFkz_2UDRAzE78qaXW11I m_duoprKfm_gW3Gr- zk96NXbezptD8ewlsODThuG1xfBFyRYsM5b3Gu2XpMmweDIlyomrYQKusadW2pny8GzGNzbF38y- nhENUsbahZzvGr9Jp981233l- N7W8LmFkBxT9Zot8icHcmtn61crirx4d2eBlsFT6s0PiP5pQHC8S6gtEeVqYHoaJtkxDZNRQ2rrBDB8g jzqHEM6Wya8GEjmKztoQmf6WFIbDWF_g0ON2JzMEu8IdX47ZzJDb5B_uxIRcPTSQbYtO_67WHdByDzdA Vxe263dv9Fk3VmNY0FzEd-qkTRIcj1tsgx2kG5SWuyL2apt90T9ZBWxBkgmrSbEhl3CqulxEZnrV1xv- 3pgS9Yo4ZVkPsHELhYY9cuEC5D7XkPYlwWmdEYdZlSyOiaz_-HEdDdm2wuUAa-6tgjTsu5jj4crQ9t- pj0s3iOSspOcThE_lbrBULnWYbxD2kghTRDYXRx3vrL_IrMvv98PXrG_vQJaQm0n6GLgPvBacjSusTiq eLhHi1v2TOF4Wsx97XQ18VwibbX53nvA_hGgl8pnD4YsHjk4PY0CACdaNubaPj8qOZxtSUSGtHRJHrfp jO3-ECOBiIM6R3OrKJvGBsV3eWw5UIYQ77GSbR6w4ZrFqm)
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Nordic Fibreboard AS unaudited financial report for the Q1 of 2025
Teade
MANAGEMENT REPORT Consolidated net sales for Q1 2025 were EUR 1.51 million, which was a 11% decrease compared to the same period last year (Q1 2024: EUR 1.97 million). The Group`s main activity is the production and wholesale of fibreboard, the sales revenue of which in Q1 2025 was EUR 1.73 million (Q1 2024: EUR 1.95 million). The remaining segment is the management of the real estate on Suur-Jõe street in Pärnu, the sales revenue of which in Q1 2025 was EUR 1 thousand (Q1 2024: EUR 12 thousand). The main difference in sales volumes between the first quarter of 2025 and the same period in 2024 is due to the decline in sales to the Asian, Middle Eastern, and African markets. Pärnu Riverside Development OÜ's real estate management revenue on the Suur-Jõe street property decreased in Q1 2025 compared to the Q1 2024, due to the termination of rental agreements in August 2024. The rental agreements were terminated due to the specific characteristics of the production building complex, which caused high communal costs that could not be covered by rental income. The consolidated EBITDA of Nordic Fibreboard for Q1 2025 was negative EUR 85 thousand, the EBITDA margin was negative 5% (Q1 2024: EBITDA was positive EUR 53 thousand, and the EBITDA margin was positive 3%). Compared to the Q1 2024 the Group`s gross margin decreased from 19% to 15% in the Q1 2024, which indicates that the Group`s profitability in the Q1 2025 has decreased compared to the same period last year. The financial income for Q1 2025 was EUR 40 thousand, consisting of the revaluation of Trigon Property Development (TPD) shares (Q1 2024: EUR 56 thousand). TPD shares were sold on 21.02.2025 and the last revaluation was carried out on 19.02.2025 at the closing price of 0.67 euros per share. Financial expenses in Q1 2025 were EUR 51 thousand, consisting of loan interest expenses in the amount of EUR 46 thousand and other financial expenses in the amount of EUR 5 (2024 Q1: EUR 54 thousand, consisting of loan interest expenses). Group`s consolidated net loss for Q1 2025 was EUR 228 thousand (Q1 2024: net loss EUR 73 thousand). DIVISIONAL REVIEW Revenue by business segments +----------------------------------+---------+---------+ | EUR thousand | Q1 2025 | Q1 2024 | +----------------------------------+---------+---------+ | Fibreboards production and sales | 1,734 | 1,949 | +----------------------------------+---------+---------+ | Real Estate Management | 1 | 12 | +----------------------------------+---------+---------+ | TOTAL | 1,735 | 1,961 | +----------------------------------+---------+---------+ Profit by business segments +----------------------------------+---------+---------+ | EUR thousand | Q1 2025 | Q1 2024 | +----------------------------------+---------+---------+ | EBITDA by business units: | | | +----------------------------------+---------+---------+ | Fibreboards production and sales | (62) | 62 | +----------------------------------+---------+---------+ | Real Estate Management | (21) | (11) | +----------------------------------+---------+---------+ | Group transactions | (2) | 2 | +----------------------------------+---------+---------+ | TOTAL EBITDA | (85) | 53 | +----------------------------------+---------+---------+ | Deprecation | (132) | (128) | +----------------------------------+---------+---------+ | TOTAL OPERATING PROFIT/LOSS | (217) | (75) | +----------------------------------+---------+---------+ | Net financial cost | (11) | 2 | +----------------------------------+---------+---------+ | NET PROFIT/LOSS | (228) | (73) | +----------------------------------+---------+---------+ Nordic Fibreboard Ltd: Fibreboard production and sales Fibreboard sales in Q1 2025 were EUR 1.73 million (Q1 2024: EUR 1.95 million). The sales volume of the largest market, Finland, was EUR 614 thousand in Q1 2025, which is EUR 58 thousand less than Q1 2024. Sales growth has increased in the Baltic market, where sales growth, compared to the same period last year, was EUR 110 thousand, total sales revenue EUR 633 thousand (Q1 2024: EUR 523 thousand). Compared to the same period last year, sales in the Q1 2025 to Africa have decreased and there were no sales to customers in Asia and the Middle East. The EBITDA of the fibreboard segment for the Q1 2025 was a negative EUR 62 thousand, (Q1 2024: positive EUR 62 thousand). The net loss of the fibreboard segment for the Q1 2025 was EUR 204 thousand (Q1 2024: net loss EUR 63 thousand). Fibreboard sales by geographical segments +----------------+---------+---------+ | EUR thousand | Q1 2025 | Q1 2024 | +----------------+---------+---------+ | European Union | 1,639 | 1,692 | +----------------+---------+---------+ | Africa | 87 | 167 | +----------------+---------+---------+ | Asia | 0 | 61 | +----------------+---------+---------+ | Middle East | 0 | 15 | +----------------+---------+---------+ | Other regions | 8 | 14 | +----------------+---------+---------+ | TOTAL | 1,734 | 1,949 | +----------------+---------+---------+ Pärnu Riverside Development: Real Estate management Pärnu Riverside Development owns property located at Suur-Jõe 48 in Pärnu. Rental income from property management was EUR 1 thousand in Q1 2025, (Q1 2024: EUR 12 thousand), the decreased in sales revenue was due to termination of rental agreements in the second half of 2024. The decision to terminate the rental agreements was due to the specific characteristics of the production building complex, which caused high communal costs, and which could not be covered by rental income. The real estate management EBITDA for Q1 2025 were negative EUR 21 thousand and net loss was EUR 21 thousand (Q1 2024: EBITDA was negative EUR 11 thousand and net loss EUR 11 thousand). Consolidated statement of financial position and cash flow statement As of 31.03.2025 the total assets of Nordic Fibreboard AS were EUR 8.7 million (31.03.2024: 9.1 million). The liabilities of the company as of 31.03.2025 were EUR 5.3 million (31.03.2024: EUR 4.8 million), of which the Group has payables of EUR 1.0 million as at 31.03.2025 (31.03.2024: also EUR 1.0 million) and borrowings of EUR 3.8 million as at 31.03.2025 (31.03.2024: EUR 3.3 million). Receivables and prepayments amounted to EUR 1.3 million as at 31.03.2025 (31.03.2024: EUR 1.1 million). Inventories were EUR 0.9 million as of 31.03.2025 (31.03.2024: EUR 0.8 million). Fixed assets were EUR 6.4 million as of 31.03.2025 (EUR 7.3 million as of 31.03.2024). The Group's operating result in the Q1 2025 was negative cash flow of EUR 528 thousand (2024 Q1: negative EUR 9 thousand). The result of investment activities was positive cash flow of EUR 471 in Q1 2025, consisting of investments made in production assets amounting to EUR 64 thousand and real estate related investments amounting to EUR 4 thousand, as well as EUR 539 thousand obtained from the sale of financial assets (TPD shares) (2024 Q1: negative cash flow EUR 90 thousand). The cash inflow from financing activities in the Q1 2025 was EUR 84 thousand (2024 Q1: cash outflow EUR 98 thousand). Net cash flow result for Q1 2025 was a positive cash flow of EUR 27 thousand, (2024 Q1: cash outflow EUR 1 thousand). OUTLOOK Nordic Fibreboard Ltd 2025 continues to be challenging, especially in the construction sector. Nordic Fibreboard's largest export market is Finland, which accounts for over 30% of the company's total sales, and where the majority of sales are to the construction sector. Unfortunately, the Finnish market has not shown sales growth so far. However, the company has made progress in the first quarter, signing cooperation agreements with several new customers for the supply of goods. Increasing its sales volumes will also be Nordic Fibreboard's main priority in 2025. Despite the difficult economic environment, Nordic Fibreboard is looking to the future. The company plans to renew and improve its digital solutions and invest in the modernization of the factory's energy systems. Pärnu Riverside development At the beginning of 2025, the Suur-Jõe 48 property owned by Pärnu Riverside Development OÜ was divided based on the approved detailed plan and during land operations, which resulted in 10 separate properties, of which 5 properties are residential land (Admirali 1/3, Admirali 5/7, Admirali 9/11, Admirali 2/4/6 and Admirali 13/15), 1 commercial land (Suur-Jõe 48), 3 transport lands (Admirali street T1, T2 and T3) and 1 land for public buildings (Admirali tn.11A). In 2025, the design of roads and routes and buildings of the planned business and residential district will continue for the purpose of applying for building permits. Pärnu Riverside Development: Real estate management Pärnu Riverside Development owns property located at Suur-Jõe 48 in Pärnu. Rental income from property management was EUR 1 thousand in Q1 2025, (Q1 2024: EUR 12 thousand), the decreased in sales revenue was due to termination of rental agreements in the second half of 2024. The decision to terminate the rental agreements was due to the specific characteristics of the production building complex, which caused high communal costs, and which could not be covered by rental income. The real estate management EBITDA for Q1 2025 were negative EUR 21 thousand and net loss was EUR 21 thousand (Q1 2024: EBITDA was negative EUR 11 thousand and net loss EUR 11 thousand). FINANCIAL HIGHLIGHTS +--------------------------------------+ | EUR thousand | +------------------+---------+---------+ | Income statement | Q1 2025 | Q1 2024 | +------------------+---------+---------+ | Revenue | 1,735 | 1,961 | +------------------+---------+---------+ | EBITDA | (85) | 53 | +------------------+---------+---------+ | EBITDA margin | (5%) | 3% | +------------------+---------+---------+ | Operating profit | (217) | (75) | +------------------+---------+---------+ | Operating margin | (13%) | (4%) | +------------------+---------+---------+ | Net profit/-loss | (228) | (73) | +------------------+---------+---------+ | Net margin | (13%) | (4%) | +------------------+---------+---------+ +-----------------------------------------------------------+ | EUR thousand | +---------------------------------+------------+------------+ | Statement of financial position | 31.03.2025 | 31.03.2024 | +---------------------------------+------------+------------+ | Total assets | 8,722 | 9,090 | +---------------------------------+------------+------------+ | Return on assets | (3%) | (1%) | +---------------------------------+------------+------------+ | Equity | 3,388 | 4,329 | +---------------------------------+------------+------------+ | Return on equity | (7%) | (2%) | +---------------------------------+------------+------------+ | Debt-to-equity-ratio | 61% | 52% | +---------------------------------+------------+------------+ +---------------------------------+------------+------------+ | Share | 31.03.2025 | 31.03.2024 | +---------------------------------+------------+------------+ | Last price (EUR)* | 0.85 | 0.79 | +---------------------------------+------------+------------+ | Earnings per share (EUR) | (0.21) | (0.04) | +---------------------------------+------------+------------+ | Price-earnings ratio | (4.06) | (22.57) | +---------------------------------+------------+------------+ | Book value of a share (EUR) | 0.75 | 0.96 | +---------------------------------+------------+------------+ | Market to book ratio | 1.13 | 0.82 | +---------------------------------+------------+------------+ | Market capitalization, (th EUR) | 3,824 | 3,554 | +---------------------------------+------------+------------+ | Number of shares (piece) | 4,499,061 | 4,499,061 | +---------------------------------+------------+------------+ CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS +----------------------------------+----------+----------+----------+----------+ |EUR thousand |31.03.2025|31.12.2024|31.03.2024|31.12.2023| +----------------------------------+----------+----------+----------+----------+ |Cash and cash equivalents | 80| 53| 6| 7| +----------------------------------+----------+----------+----------+----------+ |Receivables and prepayments (Note | | | | | |2) | 1,256| 571| 1,082| 534| +----------------------------------+----------+----------+----------+----------+ |Inventories (Note 3) | 945| 624| 749| 728| +----------------------------------+----------+----------+----------+----------+ |Total current assets | 2,281| 1,248| 1,837| 1,269| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Investment property (Note 4) | 2,384| 2,380| 2,269| 2,269| +----------------------------------+----------+----------+----------+----------+ |Financial assets at fair value | | | | | |through profit or loss (Note 7) | 0| 499| 547| 491| +----------------------------------+----------+----------+----------+----------+ |Property, plant, equipment and | | | | | |right-of use assets (Note 5) | 4,055| 4,122| 4,436| 4,475| +----------------------------------+----------+----------+----------+----------+ |Intangible assets (Note 6) | 2| 3| 1| 1| +----------------------------------+----------+----------+----------+----------+ |Total non-current assets | 6,441| 7,004| 7,253| 7,236| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |TOTAL ASSETS | 8,722| 8,252| 9,090| 8,505| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Borrowings (Note 8) | 855| 1,111| 654| 556| +----------------------------------+----------+----------+----------+----------+ |Payables and prepayments (Note 9) | 1,379| 788| 1,322| 756| +----------------------------------+----------+----------+----------+----------+ |Short-term provisions (Note 10) | 16| 21| 15| 21| +----------------------------------+----------+----------+----------+----------+ |Total current liabilities | 2,250| 1,920| 1,991| 1,333| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Long-term borrowings (Note 8) | 2,953| 2,613| 2,659| 2,659| +----------------------------------+----------+----------+----------+----------+ |Long-term provisions (Note 10) | 94| 94| 111| 111| +----------------------------------+----------+----------+----------+----------+ |Other long-term liabilities | 37| 9| 0| 0| +----------------------------------+----------+----------+----------+----------+ |Total non-current liabilities | 3,084| 2,716| 2,770| 2,770| +----------------------------------+----------+----------+----------+----------+ |Total liabilities | 5,334| 4,636| 4,761| 4,103| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Share capital (at nominal value) | | | | | |(Note 11) | 450| 450| 450| 450| +----------------------------------+----------+----------+----------+----------+ |Statutory reserve capital | 45| 45| 45| 45| +----------------------------------+----------+----------+----------+----------+ |Retained earnings (loss) | 2,893| 3,121| 3,834| 3,907| +----------------------------------+----------+----------+----------+----------+ |Total equity | 3,388| 3,616| 4,329| 4,402| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |TOTAL LIABILITIES AND EQUITY | 8,722| 8,252| 9,090| 8,505| +----------------------------------+----------+----------+----------+----------+ *The notes to the financial statements presented on pages 14 to 24 are an integral part of these consolidated financial statements. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME +--------------------------------------+---------+---------+ | EUR thousand | Q1 2025 | Q1 2024 | +--------------------------------------+---------+---------+ | Revenue (Note 13) | 1,735 | 1,961 | +--------------------------------------+---------+---------+ | Cost of goods sold (Note 14) | (1,608) | (1,713) | +--------------------------------------+---------+---------+ | Gross profit (loss) | 127 | 248 | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | Distribution costs (Note 15) | (228) | (226) | +--------------------------------------+---------+---------+ | Administrative expenses (Note 16) | (111) | (97) | +--------------------------------------+---------+---------+ | Other operating income (Note 18) | 0 | 0 | +--------------------------------------+---------+---------+ | Other operating expenses (Note 18) | (5) | (0) | +--------------------------------------+---------+---------+ | Operating profit (loss) | (217) | (75) | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | Finance income (Note 19) | 40 | 56 | +--------------------------------------+---------+---------+ | Finance costs (Note 19) | (51) | (54) | +--------------------------------------+---------+---------+ | PROFIT (LOSS) BEFORE INCOME TAX | (228) | (73) | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | NET PROFIT (LOSS) FOR THE PERIOD | (228) | (73) | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | Basic earnings per share (Note 12) | (0.05) | (0.02) | +--------------------------------------+---------+---------+ | Diluted earnings per share (Note 12) | (0.05) | (0.02) | +--------------------------------------+---------+---------+ *The notes to the financial statements presented on pages 14 to 24 are an integral part of these consolidated financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS +--------------------------------------------------------------+-------+-------+ |EUR thousand |Q1 2025|Q1 2024| +--------------------------------------------------------------+-------+-------+ |Cash flow from operating activities | | | +--------------------------------------------------------------+-------+-------+ |Operating profit (-loss) | (217)| (75)| +--------------------------------------------------------------+-------+-------+ |Adjustments: | | | +--------------------------------------------------------------+-------+-------+ |Depreciation charge (Note 5; 6) | 132| 128| +--------------------------------------------------------------+-------+-------+ |Change in trade and other receivables (Note 2) | (685)| (548)| +--------------------------------------------------------------+-------+-------+ |Change in inventories (Note 3) | (321)| (21)| +--------------------------------------------------------------+-------+-------+ |Change in trade and other payables (Note 9) | 619| 566| +--------------------------------------------------------------+-------+-------+ |Change of provisions (Note 10) | (5)| (5)| +--------------------------------------------------------------+-------+-------+ |Cash generated from operations | (477)| 45| +--------------------------------------------------------------+-------+-------+ |Interest payments (Note 8; 19) | (45)| (51)| +--------------------------------------------------------------+-------+-------+ |Net other financial income and expense | (6)| (3)| +--------------------------------------------------------------+-------+-------+ |Net cash generated from operating activities | (528)| (9)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from investing activities | | | +--------------------------------------------------------------+-------+-------+ |Purchase of property, plant and equipment and intangible | | | |assets (Note 5; 6) | (64)| (90)| +--------------------------------------------------------------+-------+-------+ |Purchase of real estate investment (Note 4) | (4)| 0| +--------------------------------------------------------------+-------+-------+ |Sales of financial assets (Note 7) | 539| 0| +--------------------------------------------------------------+-------+-------+ |Net cash used in investing activities | 471| (90)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from financing activities | | | +--------------------------------------------------------------+-------+-------+ |Repayment of loans received (Note 8) | (55)| (52)| +--------------------------------------------------------------+-------+-------+ |Loans received from related parties (Note 8) | 140| 0| +--------------------------------------------------------------+-------+-------+ |Finance lease payments (Note 8) | (6)| (5)| +--------------------------------------------------------------+-------+-------+ |Change in overdraft (Note 8) | 5| 155| +--------------------------------------------------------------+-------+-------+ |Net cash (used in)/from financing activities | 84| 98| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |NET CHANGE IN CASH | 27| (1)| +--------------------------------------------------------------+-------+-------+ |OPENING BALANCE OF CASH | 53| 7| +--------------------------------------------------------------+-------+-------+ |CLOSING BALANCE OF CASH | 80| 6| +--------------------------------------------------------------+-------+-------+ *The notes to the financial statements presented on pages 14 to 24 are an integral part of these consolidated financial statements. Enel Äkke Member of Management Board +372 55525550 [email protected]