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Nordic Fibreboard AS
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28.08.2025 18:15:42
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Nordic Fibreboard AS 2025. aasta II kvartali konsolideeritud auditeerimata vahearuanne
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JUHTKONNA ARUANNE Nordic Fibreboard AS konsolideeritud müügitulu oli 2025. aasta 2. kvartalis 1,87 miljonit eurot, mis oli 14% langust võrreldes eelmise aasta sama perioodiga (2024. aasta 2. kvartalis 2,18 miljonit eurot). Kontserni peamine tegevusala on puitkiudplaadi tootmine ja hulgimüük, mille müügitulu 2025. aasta 2. kvartalis oli 1,87 miljonit eurot (2024. aasta 2. kvartalis 2,17 miljonit eurot). Ülejäänud segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine, mille müügitulu 2025. aasta 2. kvartalis oli 1 tuhat eurot (2024. aasta 2. kvartalis 9 tuhat eurot). 2025. aasta 2. kvartali ja 2024. aasta sama perioodi müügimahtude peamine erinevus on tingitud müügi vähenemisest Euroopa Liidu turgudele. Pärnu Riverside Development OÜ kinnisvara haldamise müügitulu Suur-Jõe tänava kinnistul vähenes 2025. aasta 2. kvartalis võrreldes 2024. aasta 2. 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 2. kvartalis negatiivne 94 tuhat eurot, EBITDA rentaablus negatiivne 5% (2024. aasta 2. kvartali EBITDA positiivne 216 tuhat eurot ning EBITDA rentaablus positiivne 10%). Võrreldes 2024. aasta 2. kvartaliga langes Kontserni brutomarginaal 25%-lt 2025. aasta 2. kvartalis 14%-le, mis näitab, et Kontserni 2025. aasta 2. kvartali kasumlikkus on võrreldes eelmise aasta sama perioodiga langenud. EBITDA vähenemist mõjutasid eelkõige müügitulu langus ning Pärnu tehase kõrgemad remondi- ja hoolduskulud. Finantskulud, mis koosnesid intressikuludest, 2025. aasta 2. kvartalis olid 46 tuhat eurot (2024. aasta 2. kvartalis 109 tuhat eurot, koosnesid intressikuludest summas 53 tuhat eurot ning Trigon Property Development AS (TPD) aktsiate ümberhindlusest summas 56 tuhat eurot). Kontserni 2025. aasta 2. kvartali konsolideeritud puhaskahjum oli 268 tuhat eurot (2024. aasta 2. kvartalis puhaskahjum 23 tuhat eurot). Ärivaldkondade ülevaade Müügitulu ärisegmentide lõikes +-----------------------------+------------+------------+---------+---------+ | tuh EUR | II kv 2025 | II kv 2024 | 6k 2025 | 6k 2024 | +-----------------------------+------------+------------+---------+---------+ | Kiudplaadi tootmine ja müük | 1 867 | 2 170 | 3 601 | 4 119 | +-----------------------------+------------+------------+---------+---------+ | Kinnisvara haldamine | 1 | 9 | 2 | 21 | +-----------------------------+------------+------------+---------+---------+ | KOKKU | 1 868 | 2 179 | 3 603 | 4 140 | +-----------------------------+------------+------------+---------+---------+ Kasum ärisegmentide lõikes +--------------------------------+----------+----------+-------+-------+ |tuh EUR |II kv 2025|II kv 2024|6k 2025|6k 2024| +--------------------------------+----------+----------+-------+-------+ |EBITDA ärisegmentide lõikes: | | | | | +--------------------------------+----------+----------+-------+-------+ |Kiudplaadi tootmine ja müük | (67)| 228| (129)| 290| +--------------------------------+----------+----------+-------+-------+ |Kinnisvara haldamine | (21)| (3)| (43)| (15)| +--------------------------------+----------+----------+-------+-------+ |Elimineerimine | (6)| (8)| (8)| (5)| +--------------------------------+----------+----------+-------+-------+ |KOKKU EBITDA | (94)| 217| (180)| 270| +--------------------------------+----------+----------+-------+-------+ |Põhivara kulum ja amortisatsioon| (128)| (131)| (260)| (260)| +--------------------------------+----------+----------+-------+-------+ |KOKKU ÄRIKASUM/-KAHJUM | (222)| 86| (440)| 10| +--------------------------------+----------+----------+-------+-------+ |Neto finantskulud | (46)| (109)| (57)| (106)| +--------------------------------+----------+----------+-------+-------+ |PUHASKASUM/-KAHJUM | (268)| (23)| (497)| (96)| +--------------------------------+----------+----------+-------+-------+ Nordic Fibreboard Ltd: kiudplaadi tootmine ja müük Puitkiudplaadi müügitulu oli 2025. aasta 2. kvartalis 1,87 miljonit eurot (2024. aasta 2. kvartalis 2,17 miljonit eurot). Peamine müügitulu langus, võrreldes 2025. aasta 2. kvartalit 2024. aasta sama perioodiga, toimus Eesti turul, kus müügimaht oli 2025. aasta 2. kvartalis 253 tuhat eurot, mis on 52% väiksem kui 2024. aasta 2. kvartalis, samuti on vähenenud müük Lähis-Ida klientidele. 2025. aasta 2. kvartalis oli võrreldes eelmise aasta sama perioodiga märgata 8% müügikasvu Soome turul, samuti on taastumas müük Aafrika riikidesse ning uusi kliente on lisandunud Malaisiast ning Suurbritanniast. Puitkiudplaadi segmendi 2025. aasta 2. kvartali EBITDA oli negatiivne 67 tuhat eurot, (2024. aasta 2. kvartalis positiivne 228 tuhat eurot). Puitkiudplaadi segmendi 2025. aasta 2. kvartali puhaskahjum oli 241 tuhat eurot (2024. aasta 2. kvartalis puhaskahjum 10 tuhat eurot). KIUDPLAADI MÜÜGITULU GEOGRAAFILISELT +------------------+------------+------------+---------+---------+ | tuh EUR | II kv 2025 | II kv 2024 | 6k 2025 | 6k 2024 | +------------------+------------+------------+---------+---------+ | Euroopa Liit | 1 777 | 2 106 | 3 416 | 3 798 | +------------------+------------+------------+---------+---------+ | Aasia | 28 | 23 | 28 | 84 | +------------------+------------+------------+---------+---------+ | Lähis-Ida | 14 | 41 | 14 | 57 | +------------------+------------+------------+---------+---------+ | Aafrika | 13 | 0 | 100 | 167 | +------------------+------------+------------+---------+---------+ | Teised regioonid | 35 | 0 | 43 | 13 | +------------------+------------+------------+---------+---------+ | KOKKU | 1 867 | 2 170 | 3 601 | 4 119 | +------------------+------------+------------+---------+---------+ Pärnu Riverside Development: Kinnsvara haldus Pärnu Riverside Development OÜ omab kinnisvara Pärnu linnas asukohaga Suur-Jõe tänav 48. Kinnisvarahaldusest saadud renditulu oli 2025. aasta 2. kvartalis 1 tuhat eurot (2024. aasta 2. kvartalis 9 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 2. kvartali EBITDA oli negatiivne 21 tuhat eurot ning puhaskahjum 21 tuhat eurot (2024. aasta 2. kvartalis EBITDA negatiivne 3 tuhat eurot ning puhaskahjum 3 tuhat eurot). 2025. aasta alguses jaotati Pärnu Riverside Development OÜ-le kuuluv Suur-Jõe 48 kinnistu kinnitatud detailplaneeringu ja maatoimingute alusel kümneks eraldi kinnistuks. Nendest: 5 kinnistut on elamumaa (Admirali 1/3, Admirali 5/7, Admirali 9/11, Admirali 2/4/6 ja Admirali 13/15), 1 kinnistu on ärimaa (Suur-Jõe 48), 3 kinnistut on transpordimaa (Admirali tänav T1, T2 ja T3), 1 kinnistu on ühiskondlike ehitiste maa (Admirali tn 11a). Konsolideeritud finantsseisundi ja rahavoogude aruanne Seisuga 30.06.2025 olid Nordic Fibreboard AS varad kokku 8,85 miljonit eurot (30.06.2024: 9,25 miljonit eurot). Nõuded ja ettemaksed olid kokku 1,07 miljonit eurot seisuga 30.06.2025 (30.06.2024: 1,08 miljonit eurot). Varud seisuga 30.06.2025 olid 1,02 miljonit eurot (30.06.2024: samuti 1,02 miljonit eurot) ning Kontserni põhivarad kokku seisuga 30.06.2025 olid 6,72 miljonit eurot (30.06.2024: 7,14 miljonit eurot). Kontserni kohustised kokku seisuga 30.06.2025 olid 5,73 miljonit eurot (30.06.2024: 4,95 miljonit eurot). Võlad ja ettemaksed olid kokku 1,33 miljonit eurot (30.06.2024: 1,40 miljonit eurot), milledest Kontsernil võlgnevusi tarnijatele seisuga 30.06.2025 oli 0,97 miljonit eurot (30.06.2024: 1,09 miljonit eurot). Laenukohustised olid 30.06.2025 seisuga 4,27 miljonit eurot (30.06.2024: 3,42 miljonit eurot), eraldised endistele töötajatele ning muud kohustised olid 30.06.2025 seisuga 0,14 miljonit eurot (30.06.2024: 0,12 miljonit eurot). Nordic Fibreboard konsolideeritud rahavoog äritegevusest 2025. aasta esimese kuue kuu jooksul oli negatiivne summas 621 tuhat eurot (2024. aasta esimesed kuus kuud: negatiivne rahavoog 51 tuhat eurot). Investeerimistegevusest oli 2024. aasta esimese kuue kuu jooksul sissetulev rahavoog summas 63 tuhat eurot, mis koosnes TPD aktsiate müügist ning tehtud investeeringutest tootmisvaradesse ja kinnisvarainvesteeringute objektidesse (2024. aasta esimesed kuus kuud: väljaminev rahavoog 163 tuhat eurot. Finantseerimistegevusest oli 2024. aasta esimese kuue kuu kestel sissetulev rahavoog summas 542 tuhat eurot (2024. aasta esimesed kuus kuud: sissetulev rahavoog 209 tuhat eurot). 2024. aasta esimese kuue kuu netorahavoo tulemuseks oli väljaminev rahavoog 16 tuhat eurot (2024. aasta esimesed kuus kuud: väljaminev rahavoog 5 tuhat eurot). FINANTSSUHTARVUD +------------------------------------------------------------------------------+ |Kasumiaruanne | +----------------------------------+----------+----------+----------+----------+ |tuh EUR |II kv 2025|II kv 2024| 6k 2025| 6k 2024| +----------------------------------+----------+----------+----------+----------+ |Müügitulu | 1 868| 2 179| 3 603| 4 140| +----------------------------------+----------+----------+----------+----------+ |EBITDA | (94)| 216| (180)| 270| +----------------------------------+----------+----------+----------+----------+ |EBITDA rentaablus | (5%)| 10%| (5%)| 7%| +----------------------------------+----------+----------+----------+----------+ |Ärikasum/-kahjum | (223)| 86| (440)| 10| +----------------------------------+----------+----------+----------+----------+ |Ärirentaablus | (12%)| 4%| (12%)| 0%| +----------------------------------+----------+----------+----------+----------+ |Puhaskasum/-kahjum | (268)| (23)| (497)| (96)| +----------------------------------+----------+----------+----------+----------+ |Puhasrentaablus | (14%)| (1%)| (14%)| (2%)| +----------------------------------+----------+----------+----------+----------+ +------------------------------------------------------------------------------+ |tuh EUR | +----------------------------------+----------+----------+----------+----------+ |Bilanss |30.06.2025|31.12.2024|30.06.2024|31.12.2023| +----------------------------------+----------+----------+----------+----------+ |Koguvarad | 8 852| 8 252| 9 252| 8 505| +----------------------------------+----------+----------+----------+----------+ |Koguvarade puhasrentaablus | (3%)| (0%)| (5%)| (1%)| +----------------------------------+----------+----------+----------+----------+ |Omakapital | 3 119| 3 616| 4 306| 4 402| +----------------------------------+----------+----------+----------+----------+ |Omakapitali puhasrentaablus | (9%)| (1%)| (12%)| (2%)| +----------------------------------+----------+----------+----------+----------+ |Võlakordaja | 65%| 53%| 53%| 48%| +----------------------------------+----------+----------+----------+----------+ +----------------------------------+----------+----------+----------+----------+ |Aktsia |30.06.2025|31.12.2024|30.06.2024|31.12.2023| +----------------------------------+----------+----------+----------+----------+ |Aktsia viimane hind (EUR)* | 1,00| 0,90| 0,97| 0,90| +----------------------------------+----------+----------+----------+----------+ |Puhaskasum aktsia kohta (EUR) | (0,26)| (0,17)| (0,04)| (0,15)| +----------------------------------+----------+----------+----------+----------+ |Hind-tulu (PE) suhtarv | (3,79)| (5,15)| (25,19)| (5,93)| +----------------------------------+----------+----------+----------+----------+ |Aktsia raamatupidamisväärtus (EUR)| 0,69| 0,80| 0,96| 0,98| +----------------------------------+----------+----------+----------+----------+ |Turuhinna ja | | | | | |raamatupidamisväärtuse suhe | 1,44| 1,12| 1,01| 0,92| +----------------------------------+----------+----------+----------+----------+ |Turukapitalisatsioon (tuh EUR) | 4 499| 4 049| 4 364| 4 049| +----------------------------------+----------+----------+----------+----------+ |Aktsiate arv (tk) | 4 499 061| 4 499 061| 4 499 061| 4 499 061| +----------------------------------+----------+----------+----------+----------+ KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE +----------------------------------+----------+----------+----------+----------+ |tuh EUR |30.06.2025|31.12.2024|30.06.2024|31.12.2023| +----------------------------------+----------+----------+----------+----------+ |Raha ja raha ekvivalendid | 37| 53| 2| 7| +----------------------------------+----------+----------+----------+----------+ |Nõuded ja ettemaksed (Lisa 2) | 1 075| 571| 1 084| 534| +----------------------------------+----------+----------+----------+----------+ |Varud (Lisa 3) | 1 020| 624| 1 027| 728| +----------------------------------+----------+----------+----------+----------+ |Kokku käibevarad | 2 132| 1 248| 2 113| 1 269| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Kinnisvarainvesteeringud (Lisa 4) | 2 481| 2 380| 2 294| 2 269| +----------------------------------+----------+----------+----------+----------+ |Finantsvarad õiglases väärtuses | | | | | |muutustega läbi kasumiaruande | | | | | |(Lisa 7) | 0| 499| 491| 491| +----------------------------------+----------+----------+----------+----------+ |Materiaalne põhivara ja vara | | | | | |kasutusõigus (Lisa 5) | 4 237| 4 122| 4 351| 4 475| +----------------------------------+----------+----------+----------+----------+ |Immateriaalne põhivara (Lisa 6) | 2| 3| 3| 1| +----------------------------------+----------+----------+----------+----------+ |Kokku põhivarad | 6 720| 7 004| 7 139| 7 236| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |KOKKU VARAD | 8 852| 8 252| 9 252| 8 505| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Võlakohustised (Lisa 8) | 748| 1 111| 765| 556| +----------------------------------+----------+----------+----------+----------+ |Võlad ja ettemaksed (Lisa 9) | 1 326| 788| 1 401| 756| +----------------------------------+----------+----------+----------+----------+ |Lühiajalised eraldised (Lisa 10) | 10| 21| 10| 21| +----------------------------------+----------+----------+----------+----------+ |Kokku lühiajalised kohustised | 2 084| 1 920| 2 176| 1 333| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Pikaajalised võlakohustised (Lisa | | | | | |8) | 3,518| 2 613| 2 659| 2 659| +----------------------------------+----------+----------+----------+----------+ |Pikaajalised eraldised (Lisa 10) | 94| 94| 111| 111| +----------------------------------+----------+----------+----------+----------+ |Muud pikaajalised kohustised | 37| 9| 0| 0| +----------------------------------+----------+----------+----------+----------+ |Kokku pikaajalised kohustised | 3 649| 2 716| 2 770| 2 770| +----------------------------------+----------+----------+----------+----------+ |Kokku kohustised | 5 733| 4 636| 4 946| 4 103| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Aktsiakapital (nominaalväärtuses) | | | | | |(Lisa 11) | 450| 450| 450| 450| +----------------------------------+----------+----------+----------+----------+ |Kohustuslik reservkapital | 45| 45| 45| 45| +----------------------------------+----------+----------+----------+----------+ |Jaotamata kasum | 2 624| 3 121| 3 811| 3 907| +----------------------------------+----------+----------+----------+----------+ |Kokku omakapital | 3 119| 3 616| 4 306| 4 402| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |KOKKU KOHUSTISED JA OMAKAPITAL | 8 852| 8 252| 9 252| 8 505| +----------------------------------+----------+----------+----------+----------+ KONSOLIDEERITD KASUMI- JA MUU KOONDARUANNE +----------------------------------------+----------+----------+-------+-------+ |tuh EUR |II kv 2025|II kv 2024|6k 2025|6k 2024| +----------------------------------------+----------+----------+-------+-------+ |Müügitulu (Lisa 13) | 1 868| 2 179| 3 603| 4 140| +----------------------------------------+----------+----------+-------+-------+ |Müüdud toodangu kulu (Lisa 14) | (1 740)| (1 755)|(3 348)|(3 468)| +----------------------------------------+----------+----------+-------+-------+ |Brutokasum | 128| 424| 255| 672| +----------------------------------------+----------+----------+-------+-------+ | | | | | | +----------------------------------------+----------+----------+-------+-------+ |Turustuskulud (Lisa 15) | (245)| (251)| (473)| (477)| +----------------------------------------+----------+----------+-------+-------+ |Üldhalduskulud (Lisa 16) | (115)| (94)| (226)| (192)| +----------------------------------------+----------+----------+-------+-------+ |Muud äritulud (Lisa 18) | 13| 8| 13| 8| +----------------------------------------+----------+----------+-------+-------+ |Muud ärikulud (Lisa 18) | (3)| (1)| (9)| (1)| +----------------------------------------+----------+----------+-------+-------+ |Ärikasum (-kahjum) | (222)| 86| (440)| 10| +----------------------------------------+----------+----------+-------+-------+ | | | | | | +----------------------------------------+----------+----------+-------+-------+ |Finantstulud (Lisa 19) | 0| 0| 40| 0| +----------------------------------------+----------+----------+-------+-------+ |Finantskulud (Lisa 19) | (46)| (109)| (97)| (106)| +----------------------------------------+----------+----------+-------+-------+ |KAHJUM ENNE TULUMAKSUSTAMIST | (268)| (23)| (497)| (96)| +----------------------------------------+----------+----------+-------+-------+ | | | | | | +----------------------------------------+----------+----------+-------+-------+ |ARUANDEPERIOODI PUHASKAHJUM KOKKU | (268)| (23)| (497)| (96)| +----------------------------------------+----------+----------+-------+-------+ | | | | | | +----------------------------------------+----------+----------+-------+-------+ |Tava perioodi puhaskahjum aktsia kohta | | | | | |(Lisa 12) | (0,06)| (0,01)| (0,11)| (0,02)| +----------------------------------------+----------+----------+-------+-------+ |Lahustatud perioodi puhaskahjum aktsia | | | | | |kohta (Lisa 12) | (0,06)| (0,01)| (0,11)| (0,02)| +----------------------------------------+----------+----------+-------+-------+ KONSOLIDEERITUD RAHAVOOGUDE ARUANNE +----------------------------------------------------------+---------+---------+ | tuh EUR | 6k 2025 | 6k 2024 | +----------------------------------------------------------+---------+---------+ | Äritegevuse rahavood | | | +----------------------------------------------------------+---------+---------+ | Ärikasum (-kahjum) | (440) | (10) | +----------------------------------------------------------+---------+---------+ | Korrigeerimised: | | | +----------------------------------------------------------+---------+---------+ | Kulum (Lisa 5; 6) | 260 | 260 | +----------------------------------------------------------+---------+---------+ | Nõuete ja ettemaksete muutus (Lisa 2) | (504) | (550) | +----------------------------------------------------------+---------+---------+ | Varude muutus (Lisa 3) | (396) | (299) | +----------------------------------------------------------+---------+---------+ | Äritegevusega seotud kohustiste muutus (Lisa 9) | 566 | 645 | +----------------------------------------------------------+---------+---------+ | Eraldiste muutus (Lisa 10) | (11) | (11) | +----------------------------------------------------------+---------+---------+ | Äritegevusega genereeritud rahavood | (525) | 55 | +----------------------------------------------------------+---------+---------+ | Intressimaksed (Lisa 8; 19) | (89) | (106) | +----------------------------------------------------------+---------+---------+ | Muud finantstulud ja -kulud | (8) | 0 | +----------------------------------------------------------+---------+---------+ | Äritegevuse rahavood kokku | (621) | (51) | +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ | Investeerimistegevuse rahavood | | | +----------------------------------------------------------+---------+---------+ | Materiaalse ja immateriaalse põhivara soetus (Lisa 5; 6) | (375) | (138) | +----------------------------------------------------------+---------+---------+ | Kinnisvarainvesteeringu soetus (Lisa 4) | (101) | (25) | +----------------------------------------------------------+---------+---------+ | Finantsvarade müük (Lisa 7) | 539 | 0 | +----------------------------------------------------------+---------+---------+ | Investeerimistegevuse rahavood kokku | 63 | (163) | +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ | Finantseerimistegevuse rahavood | | | +----------------------------------------------------------+---------+---------+ | Saadud laenude tagasimaksed (Lisa 8) | (110) | (104) | +----------------------------------------------------------+---------+---------+ | Saadud laenud seotud osapooltelt (Lisa 8) | 705 | 0 | +----------------------------------------------------------+---------+---------+ | Rendikohustiste põhiosa tagasimaksed (Lisa 8) | (12) | (11) | +----------------------------------------------------------+---------+---------+ | Arvelduskrediidi muutus (Lisa 8) | (41) | 324 | +----------------------------------------------------------+---------+---------+ | Finantseerimistegevuse rahavood kokku | 542 | 209 | +----------------------------------------------------------+---------+---------+ | | | | +----------------------------------------------------------+---------+---------+ | RAHA JA RAHA EKVIVALENTIDE MUUTUS | (16) | (5) | +----------------------------------------------------------+---------+---------+ | RAHA JA RAHA EKVIVALENTID PERIOODI ALGUSES | 53 | 7 | +----------------------------------------------------------+---------+---------+ | RAHA JA RAHA EKVIVALENTID PERIOODI LÕPUS | 37 | 2 | +----------------------------------------------------------+---------+---------+ Enel Äkke Juhatuse liige +372 55525550 [email protected] (https://www.globenewswire.com/Tracker?data=4GfiKy643dcFu4pgLtI-1Fgkq0kmhWnbIM- CXsdVFFoUK3IYWQEVJfF8pl23YIwjP6AkPXT1G7nV5c2pGXRkYocLiwY- UNmYh9dja6BA4svSIf_JPn3MiV6iTJYa- gGADqjlIyJ6fvpMhecro1lrc5CcKvhC3njhi8z9ERnQOtCcphF1_QlKZP1- tzSuN8tKRfDRNIatNPjhwgRLM9Ijq4VTvsScSj6qWJI1TbLhCXX-vP01- RadyuYvgWRjrc0jHYry0E7_3UD8NdVOmqGzlMHJmeRU_vp21kHPvs2Y- tcvrsy92WA7zYeiadFyMRItJ2uIrjR6xTt5YtEIRaKMROG- ZngP87urJgClosXcXSX5xLycknUNEJSy2-KENZrpMimB5EtH9IXaIP7TlTI08koUrAh- 1QxxFLCHn9Koelq2L2iC2UT2RH6dIa1By-qGsDk-Z9Fjqoa05LR7orybg1URH96RxcsprP7p9RnCe- vTxukoVb0Br0TCstGwNsWdQfWMPq977C8PgsHEJVrNX3_eG3izztqIm- sFnGzHhDYZUzfeGN01JdljUoCmVkC_JxJyjdP-BfzZSfxBEKeMAvEhpp81melv86w3-A13- F0JmWpyStqFbUdvaWCWFhPRZCL94hdXtl3e8F82- 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Pealkiri
Nordic Fibreboard AS consolidated unaudited interim report for the second quarter of 2025
Teade
MANAGEMENT REPORT Consolidated net sales for Q2 2025 were EUR 1.87 million, which was a 14% decrease compared to the same period last year (Q2 2024: EUR 2.18 million). The Group`s main activity is the production and wholesale of fibreboard, the sales revenue of which in Q2 2025 was EUR 1.87 million (Q2 2024: EUR 2.17 million). The remaining segment is the management of the real estate on Suur-Jõe street in Pärnu, the sales revenue of which in Q2 2025 was EUR 1 thousand (Q2 2024: EUR 9 thousand). The main difference in sales volumes between the second quarter of 2025 and the same period in 2024 is due to the decline in sales to European Union markets. Pärnu Riverside Development OÜ's real estate management revenue on the Suur-Jõe street property decreased in Q2 2025 compared to the Q2 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 Q2 2025 was negative EUR 94 thousand, the EBITDA margin was negative 5% (Q2 2024: EBITDA was positive EUR 217 thousand, and the EBITDA margin was positive 10%). Compared to the Q2 2024 the Group`s gross margin decreased from 25% to 14% in the Q2 2025, which indicates that the Group`s profitability in the Q1 2025 has decreased compared to the same period last year. The main reason for the change in EBITDA is the increased repair and maintenance costs of the Pärnu factory and boiler house. Financial expenses, which consisted of interest expenses, amounted to EUR 46 thousand in Q2 2025 (2024 Q2: EUR 109 thousand, consisting of interest expenses in the amount of EUR 53 thousand and revaluation of Trigon Property Development AS shares in the amount of EUR 56 thousand). Group`s consolidated net loss for Q2 2025 was EUR 46 thousand (Q2 2024: net loss EUR 23 thousand). Divisional review Revenue by business segments +----------------------------------+---------+---------+---------+---------+ | EUR thousand | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | +----------------------------------+---------+---------+---------+---------+ | Fibreboards production and sales | 1,867 | 2,170 | 3,602 | 4,119 | +----------------------------------+---------+---------+---------+---------+ | Real Estate Management | 1 | 9 | 2 | 21 | +----------------------------------+---------+---------+---------+---------+ | TOTAL | 1,868 | 2,179 | 3,603 | 4,140 | +----------------------------------+---------+---------+---------+---------+ Profit by business segments +----------------------------------+---------+---------+---------+---------+ | EUR thousand | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | +----------------------------------+---------+---------+---------+---------+ | EBITDA by business units: | | | | | +----------------------------------+---------+---------+---------+---------+ | Fibreboards production and sales | (67) | 228 | (129) | 290 | +----------------------------------+---------+---------+---------+---------+ | Real Estate Management | (21) | (3) | (43) | (15) | +----------------------------------+---------+---------+---------+---------+ | Group transactions | (6) | (8) | (8) | (5) | +----------------------------------+---------+---------+---------+---------+ | TOTAL EBITDA | (94) | 217 | (180) | 270 | +----------------------------------+---------+---------+---------+---------+ | Deprecation | (128) | (131) | (260) | (260) | +----------------------------------+---------+---------+---------+---------+ | TOTAL OPERATING PROFIT/LOSS | (222) | 86 | (440) | 10 | +----------------------------------+---------+---------+---------+---------+ | Net financial cost | (46) | (109) | (57) | (106) | +----------------------------------+---------+---------+---------+---------+ | NET PROFIT/LOSS | (268) | (23) | (497) | (96) | +----------------------------------+---------+---------+---------+---------+ Nordic Fibreboard Ltd: Fibreboard production and sales Fibreboard sales in Q2 2025 were EUR 1.87 million (Q2 2024: EUR 2.17 million). The main decrease in sales revenue, compared to Q2 2025 with the same period in 2024, occurred in the Estonian market, sales volume in the Q2 2025 was EUR 253 thousand, which is 52% less than in the Q2 2024, and sales to customers in the Middle East have also decreased. An increase in sales growth in the Q2 2025 compared to the same period last year was noticeable in the Finnish market - 8%, in addition, sales to African countries are recovering and new customers have been added from Malaysia and the United Kingdom. The EBITDA of the fibreboard segment for the Q2 2025 was a negative EUR 67 thousand, (Q2 2024: positive EUR 228 thousand). The net loss of the fibreboard segment for the Q2 2025 was EUR 241 thousand (Q2 2024: net loss EUR 10 thousand). Fibreboard sales by geographical segments +----------------+---------+---------+---------+---------+ | EUR thousand | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | +----------------+---------+---------+---------+---------+ | European Union | 1,777 | 2 106 | 3 416 | 3,798 | +----------------+---------+---------+---------+---------+ | Asia | 28 | 23 | 28 | 84 | +----------------+---------+---------+---------+---------+ | Middle East | 14 | 41 | 14 | 57 | +----------------+---------+---------+---------+---------+ | Africa | 13 | 0 | 100 | 167 | +----------------+---------+---------+---------+---------+ | Other regions | 35 | 0 | 43 | 13 | +----------------+---------+---------+---------+---------+ | TOTAL | 1,867 | 2,170 | 3,601 | 4,119 | +----------------+---------+---------+---------+---------+ 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 Q2 2025, (Q2 2024: EUR 9 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 Q2 2025 were negative EUR 21 thousand and net loss was EUR 21 thousand (Q2 2024: EBITDA was negative EUR 3 thousand and net loss EUR 3 thousand). 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. Consolidated statement of financial position and cash flow statement As of 30.06.2025 the total assets of Nordic Fibreboard AS were EUR 8.85 million (30.06.2024: 9.25 million). Receivables and prepayments amounted to EUR 1.07 million as at 30.06.2025 (30.06.2024: EUR 1.08 million). Inventories were EUR 1.02 million as of 30.06.2025 (30.06.2024: also EUR 1.02 million) and the Group´s total fixed assets were EUR 6.72 million as of 30.06.2025 (EUR 7.14 million as of 30.06.2024). The liabilities of the Group as of 30.06.2025 were EUR 5.73 million (30.06.2024: EUR 4.95 million). Payables and prepayments amounted to EUR 1.33 million (30.06.2024: EUR 1.40 million), of which the Group has payables of EUR 0.97 million as at 30.06.2025 (30.06.2024: EUR 1.09 million). Borrowings amounted to EUR 4.27 million as at 30.06.2025 (30.06.2024: EUR 3.42 million), provision for former employees and other liabilities amounted to EUR 0.14 million (30.06.2024: EUR 0.12 million). Nordic Fibreboard`s consolidated cash flow from operating activities for the first six months of 2025 was negative in the amount of EUR 621 thousand (first six months of 2024: negative cash flow of EUR 51 thousand). Cash inflow due to investment activities during the first six months 2025 was EUR 63 thousand, which consisted of the sale of TPD shares and investments in production assets and real estate investment objects (first six months of 2024: cash outflow EUR 163 thousand). Cash inflows due to financing activities was EUR 542 thousand for the first six months of 2025, (first six months of 2024: cash inflow EUR 209 thousand). The net cash flow for the first six months of 2025 resulted in a cash outflow of EUR 16 thousand (first six months of 2024: cash outflow EUR 5 thousand). Outlook Nordic Fibreboard Ltd In recent years, the market has remained stable, although the expected rapid growth has not yet been noticeable in the construction or manufacturing sectors. Although sales volumes have decreased more than expected in some markets, the addition of new customers has helped to balance this decline. Market fluctuations show that in addition to finding new customers, it is important to actively focus on maintaining and developing existing markets. We will continue to invest consistently in product development and strengthening customer relationships to offer the most suitable and up-to-date solutions in a changing market environment. We are convinced that the segment of energy-efficient and environmentally friendly products is on a growth trend in terms of both innovation and demand. Although changes may be long-term, they will provide a clear competitive advantage in the future compared to products that have a negative impact on both the environment and the indoor climate of buildings. Our goal is to be a leader in this development - to provide solutions that meet increasingly stringent energy efficiency and sustainability requirements, while ensuring additional value for customers in terms of quality, durability, and a healthy living environment. Pärnu Riverside development In 2025, the design of the roads, infrastructure, and buildings of the planned business and residential area will continue for the purpose of applying for building permits. The building permit process has started, and according to the preliminary plans, it is planned to complete it by the end of 2025. On 30.07.2025, Nordic Fibreboard AS and Pärnu Riverside Development OÜ entered into a merger agreement, according to which Nordic Fibreboard AS is the acquiring company and Pärnu Riverside Development OÜ is the company being acquired. The purpose of the merger is to simplify the company's structure. FINANCIAL HIGHLIGHTS +---------------------------------------------------------------------------+ |Income statement | +-------------------------------+----------+----------+----------+----------+ |EUR thousand | Q2 2025| Q2 2024| 6M 2025| 6M 2024| +-------------------------------+----------+----------+----------+----------+ |Revenue | 1,868| 2,179| 3,603| 4,140| +-------------------------------+----------+----------+----------+----------+ |EBITDA | (94)| 216| (180)| 270| +-------------------------------+----------+----------+----------+----------+ |EBITDA margin | (5%)| 10%| (5%)| 7%| +-------------------------------+----------+----------+----------+----------+ |Operating profit | (223)| 86| (440)| 10| +-------------------------------+----------+----------+----------+----------+ |Operating margin | (12%)| 4%| (12%)| 0%| +-------------------------------+----------+----------+----------+----------+ |Net profit/-loss | (268)| (23)| (497)| (96)| +-------------------------------+----------+----------+----------+----------+ |Net margin | (14%)| (1%)| (14%)| (2%)| +-------------------------------+----------+----------+----------+----------+ +---------------------------------------------------------------------------+ |Statement of financial position | +-------------------------------+----------+----------+----------+----------+ |EUR thousand |30.06.2025|31.12.2024|30.06.2024|31.12.2023| +-------------------------------+----------+----------+----------+----------+ |Total assets | 8,852| 8,252| 9,252| 8,505| +-------------------------------+----------+----------+----------+----------+ |Return on assets | (3%)| (0%)| (5%)| (1%)| +-------------------------------+----------+----------+----------+----------+ |Equity | 3,119| 3,616| 4,306| 4,402| +-------------------------------+----------+----------+----------+----------+ |Return on equity | (9%)| (1%)| (12%)| (2%)| +-------------------------------+----------+----------+----------+----------+ |Debt-to-equity-ratio | 65%| 53%| 53%| 48%| +-------------------------------+----------+----------+----------+----------+ +-------------------------------+----------+----------+----------+----------+ |Share |30.06.2025|31.12.2024|30.06.2024|31.12.2023| +-------------------------------+----------+----------+----------+----------+ |Last price (EUR)* | 1.00| 0.90| 0.97| 0.90| +-------------------------------+----------+----------+----------+----------+ |Earnings per share (EUR) | (0.26)| (0.17)| (0.04)| (0.15)| +-------------------------------+----------+----------+----------+----------+ |Price-earnings ratio | (3.79)| (5.15)| (25.19)| (5.93)| +-------------------------------+----------+----------+----------+----------+ |Book value of a share (EUR) | 0.69| 0.80| 0.96| 0.98| +-------------------------------+----------+----------+----------+----------+ |Market to book ratio | 1.44| 1.12| 1.01| 0.92| +-------------------------------+----------+----------+----------+----------+ |Market capitalization, (th EUR) | 4,499| 4,049| 4,364| 4,049| +-------------------------------+----------+----------+----------+----------+ |Number of shares (piece) | 4,499,061| 4,499,061| 4,499,061| 4,499,061| +-------------------------------+----------+----------+----------+----------+ CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS +----------------------------------+----------+----------+----------+----------+ |EUR thousand |30.06.2025|31.12.2024|30.06.2024|31.12.2023| +----------------------------------+----------+----------+----------+----------+ |Cash and cash equivalents | 37| 53| 2| 7| +----------------------------------+----------+----------+----------+----------+ |Receivables and prepayments (Note | | | | | |2) | 1,075| 571| 1,084| 534| +----------------------------------+----------+----------+----------+----------+ |Inventories (Note 3) | 1,020| 624| 1,027| 728| +----------------------------------+----------+----------+----------+----------+ |Total current assets | 2,132| 1,248| 2,113| 1,269| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Investment property (Note 4) | 2,481| 2,380| 2,294| 2,269| +----------------------------------+----------+----------+----------+----------+ |Financial assets at fair value | | | | | |through profit or loss (Note 7) | 0| 499| 491| 491| +----------------------------------+----------+----------+----------+----------+ |Property, plant, equipment and | | | | | |right-of use assets (Note 5) | 4,237| 4,122| 4,351| 4,475| +----------------------------------+----------+----------+----------+----------+ |Intangible assets (Note 6) | 2| 3| 3| 1| +----------------------------------+----------+----------+----------+----------+ |Total non-current assets | 6,720| 7,004| 7,139| 7,236| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |TOTAL ASSETS | 8,852| 8,252| 9,252| 8,505| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Borrowings (Note 8) | 748| 1,111| 765| 556| +----------------------------------+----------+----------+----------+----------+ |Payables and prepayments (Note 9) | 1,326| 788| 1,401| 756| +----------------------------------+----------+----------+----------+----------+ |Short-term provisions (Note 10) | 10| 21| 10| 21| +----------------------------------+----------+----------+----------+----------+ |Total current liabilities | 2,084| 1,920| 2,176| 1,333| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Long-term borrowings (Note 8) | 3,518| 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 | 3,649| 2,716| 2,770| 2,770| +----------------------------------+----------+----------+----------+----------+ |Total liabilities | 5,733| 4,636| 4,946| 4,103| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Share capital (at nominal value) | | | | | |(Note 11) | 450| 450| 450| 450| +----------------------------------+----------+----------+----------+----------+ |Statutory reserve capital | 45| 45| 45| 45| +----------------------------------+----------+----------+----------+----------+ |Retained earnings (loss) | 2,624| 3,121| 3,811| 3,907| +----------------------------------+----------+----------+----------+----------+ |Total equity | 3,119| 3,616| 4,306| 4,402| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |TOTAL LIABILITIES AND EQUITY | 8,852| 8,252| 9,252| 8,505| +----------------------------------+----------+----------+----------+----------+ CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME +--------------------------------------+---------+---------+---------+---------+ | EUR thousand | Q2 2025 | Q2 2024 | 6M 2025 | 6M 2024 | +--------------------------------------+---------+---------+---------+---------+ | Revenue (Note 13) | 1,868 | 2,179 | 3,603 | 4,140 | +--------------------------------------+---------+---------+---------+---------+ | Cost of goods sold (Note 14) | (1,740) | (1,755) | (3,348) | (3,468) | +--------------------------------------+---------+---------+---------+---------+ | Gross profit | 128 | 424 | 255 | 672 | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | Distribution costs (Note 15) | (245) | (251) | (473) | (477) | +--------------------------------------+---------+---------+---------+---------+ | Administrative expenses (Note 16) | (115) | (94) | (226) | (192) | +--------------------------------------+---------+---------+---------+---------+ | Other operating income (Note 18) | 13 | 8 | 13 | 8 | +--------------------------------------+---------+---------+---------+---------+ | Other operating expenses (Note 18) | (3) | (1) | (9) | (1) | +--------------------------------------+---------+---------+---------+---------+ | Operating profit (loss) | (222) | 86 | (440) | 10 | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | Finance income (Note 19) | 0 | 0 | 40 | 0 | +--------------------------------------+---------+---------+---------+---------+ | Finance costs (Note 19) | (46) | (109) | (97) | (106) | +--------------------------------------+---------+---------+---------+---------+ | LOSS BEFORE INCOME TAX | (268) | (23) | (497) | (96) | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | NET LOSS FOR THE PERIOD | (268) | (23) | (497) | (96) | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | Basic earnings per share (Note 12) | (0.06) | (0.01) | (0.11) | (0.02) | +--------------------------------------+---------+---------+---------+---------+ | Diluted earnings per share (Note 12) | (0.06) | (0.01) | (0.11) | (0.02) | +--------------------------------------+---------+---------+---------+---------+ CONSOLIDATED STATEMENT OF CASH FLOWS +--------------------------------------------------------------+-------+-------+ |EUR thousand |6M 2025|6M 2024| +--------------------------------------------------------------+-------+-------+ |Cash flow from operating activities | | | +--------------------------------------------------------------+-------+-------+ |Operating profit (-loss) | (440)| (10)| +--------------------------------------------------------------+-------+-------+ |Adjustments: | | | +--------------------------------------------------------------+-------+-------+ |Depreciation charge (Note 5; 6) | 260| 260| +--------------------------------------------------------------+-------+-------+ |Change in trade and other receivables (Note 2) | (504)| (550)| +--------------------------------------------------------------+-------+-------+ |Change in inventories (Note 3) | (396)| (299)| +--------------------------------------------------------------+-------+-------+ |Change in trade and other payables (Note 9) | 566| 645| +--------------------------------------------------------------+-------+-------+ |Change of provisions (Note 10) | (11)| (11)| +--------------------------------------------------------------+-------+-------+ |Cash generated from operations | (525)| 55| +--------------------------------------------------------------+-------+-------+ |Interest payments (Note 8; 19) | (89)| (106)| +--------------------------------------------------------------+-------+-------+ |Net other financial income and expense | (8)| 0| +--------------------------------------------------------------+-------+-------+ |Net cash generated from operating activities | (621)| (51)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from investing activities | | | +--------------------------------------------------------------+-------+-------+ |Purchase of property, plant and equipment and intangible | | | |assets (Note 5; 6) | (375)| (138)| +--------------------------------------------------------------+-------+-------+ |Purchase of real estate investment (Note 4) | (101)| (25)| +--------------------------------------------------------------+-------+-------+ |Sales of financial assets (Note 7) | 539| 0| +--------------------------------------------------------------+-------+-------+ |Net cash used in investing activities | 63| (163)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from financing activities | | | +--------------------------------------------------------------+-------+-------+ |Repayment of loans received (Note 8) | (110)| (104)| +--------------------------------------------------------------+-------+-------+ |Loans received from related parties (Note 8) | 705| 0| +--------------------------------------------------------------+-------+-------+ |Finance lease payments (Note 8) | (12)| (11)| +--------------------------------------------------------------+-------+-------+ |Change in overdraft (Note 8) | (41)| 324| +--------------------------------------------------------------+-------+-------+ |Net cash (used in)/from financing activities | 542| 209| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |NET CHANGE IN CASH | (16)| (5)| +--------------------------------------------------------------+-------+-------+ |OPENING BALANCE OF CASH | 53| 7| +--------------------------------------------------------------+-------+-------+ |CLOSING BALANCE OF CASH | 37| 2| +--------------------------------------------------------------+-------+-------+ Enel Äkke Member of Management Board +372 55525550 [email protected]