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Nordic Fibreboard AS
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28.11.2025 18:05:33
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Nordic Fibreboard AS 2025. aasta III kvartali konsolideeritud auditeerimata vahearuanne
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JUHTKONNA ARUANNE Nordic Fibreboard AS konsolideeritud müügitulu oli 2025. aasta 3. kvartalis 1,99 miljonit eurot, mis oli 2,5% tõusu võrreldes eelmise aasta sama perioodiga (2024. aasta 3. kvartalis 1,94 miljonit eurot). Nordic Fibreboard 3. kvartali müügitulu tulenes Kontserni peamisest tegevusalast, milleks on puitkiudplaadi tootmine ja hulgimüük. Nordic Fibreboard konsolideeritud EBITDA oli 2025. aasta 3. kvartalis positiivne 94 tuhat eurot, EBITDA rentaablus positiivne 5% (2024. aasta 3. kvartali EBITDA negatiivne 19 tuhat eurot ning EBITDA rentaablus negatiivne 1%). Võrreldes 2024. aasta 3. kvartaliga tõusis Kontserni brutomarginaal 16%-lt 2025. aasta 3. kvartalis 24%-le, mis näitab, et Kontserni 2025. aasta 3. kvartali kasumlikkus on võrreldes eelmise aasta sama perioodiga tõusnud. Finantskulud, mis koosnesid intressikuludest, 2025. aasta 3. kvartalis olid 43 tuhat eurot (2024. aasta 3. kvartalis 113 tuhat eurot, koosnesid intressikuludest summas 53 tuhat eurot ning Trigon Property Development AS (TPD) aktsiate ümberhindlusest summas 60 tuhat eurot). Kontserni 2025. aasta 3. kvartali konsolideeritud puhaskahjum oli 77 tuhat eurot (2025. aasta 3. kvartalis puhaskahjum 263 tuhat eurot). Juhatus hindab Kontserni tulemusi peamiselt ärikasumi ja EBITDA alusel. Teise mõõdikuna jälgib juhatus müügitulu. Kontsern määratleb EBITDA-d kui kasumit enne erakorralisi muid ärikulusid ja neto finantskulusid ning maksu-, kulumi ja väärtuse languse kulusid. Erakorraliste muude ärikuludena on Kontsern käsitlenud ühekordseid kulusid, mis ei ole tekkinud tavapärase äritegevuse käigus, vaid on tekkinud mõnest erakorralisest asjaolust. EBITDA ei ole IFRS-is määratletud tulemuslikkuse näitaja. Kontserni EBITDA määratlus ei pruugi olla võrreldav teiste majandusüksuste sarnase nimetusega ärikasumi näitajate ja avalikustatavate andmetega. Finantssuhtarvud +------------------------------------------------------------------------------+ |Kasumiaruanne | +--------------------------------+-----------+-----------+----------+----------+ |tuh EUR |III kv 2025|III kv 2024| 9k 2025| 9k 2024| +--------------------------------+-----------+-----------+----------+----------+ |Müügitulu | 1 988| 1 938| 5 592| 6 078| +--------------------------------+-----------+-----------+----------+----------+ |EBITDA | 94| (19)| (85)| 251| +--------------------------------+-----------+-----------+----------+----------+ |EBITDA rentaablus | 5%| (1%)| (2%)| 4%| +--------------------------------+-----------+-----------+----------+----------+ |Ärikasum/-kahjum | (34)| (150)| (473)| (139)| +--------------------------------+-----------+-----------+----------+----------+ |Ärirentaablus | (2%)| (8%)| (8%)| (2%)| +--------------------------------+-----------+-----------+----------+----------+ |Puhaskasum/-kahjum | (77)| (263)| (574)| (358)| +--------------------------------+-----------+-----------+----------+----------+ |Puhasrentaablus | (4%)| (14%)| (10%)| (6%)| +--------------------------------+-----------+-----------+----------+----------+ +------------------------------------------------------------------------------+ |tuh EUR | +--------------------------------+-----------+-----------+----------+----------+ |Bilanss | 30.09.2025| 31.12.2024|30.09.2024|31.12.2023| +--------------------------------+-----------+-----------+----------+----------+ |Koguvarad | 9 188| 8 252| 8 780| 8 505| +--------------------------------+-----------+-----------+----------+----------+ |Koguvarade puhasrentaablus | (6%)| (10%)| (4%)| (8%)| +--------------------------------+-----------+-----------+----------+----------+ |Omakapital | 3 042| 3 616| 4 044| 4 402| +--------------------------------+-----------+-----------+----------+----------+ |Omakapitali puhasrentaablus | (19%)| (22%)| (9%)| (16%)| +--------------------------------+-----------+-----------+----------+----------+ |Võlakordaja | 67%| 56%| 54%| 48%| +--------------------------------+-----------+-----------+----------+----------+ +--------------------------------+-----------+-----------+----------+----------+ |Aktsia | 30.09.2025| 31.12.2024|30.09.2024|31.12.2023| +--------------------------------+-----------+-----------+----------+----------+ |Aktsia viimane hind (EUR)* | 0,70| 0,90| 0,93| 0,90| +--------------------------------+-----------+-----------+----------+----------+ |Puhaskasum aktsia kohta (EUR) | (0,22)| (0,17)| (0,11)| (0,15)| +--------------------------------+-----------+-----------+----------+----------+ |Hind-tulu (PE) suhtarv | (3,15)| (5,15)| (8,84)| (5,93)| +--------------------------------+-----------+-----------+----------+----------+ |Aktsia raamatupidamisväärtus | | | | | |(EUR) | 0,68| 0,80| 0,90| 0,98| +--------------------------------+-----------+-----------+----------+----------+ |Turuhinna ja | | | | | |raamatupidamisväärtuse suhe | 1,04| 1,12| 1,03| 0,92| +--------------------------------+-----------+-----------+----------+----------+ |Turukapitalisatsioon (tuh EUR) | 3 149| 4 049| 4 184| 4 049| +--------------------------------+-----------+-----------+----------+----------+ |Aktsiate arv (tk) | 4 499 061| 4 499 061| 4 499 061| 4 499 061| +--------------------------------+-----------+-----------+----------+----------+ Kiudplaadi tootmine ja müük Puitkiudplaatide tootmine ja müük toimub Nordic Fibreboard AS tütarettevõttes Nordic Fibreboard Ltd OÜ. Puitkiudplaadi müügitulu oli 2025. aasta 3. kvartalis 1,99 miljonit eurot (2024. aasta 3. kvartalis 1,94 miljonit eurot). Müügitulu on püsinud valdavalt eelmise aasta tasemel. Vähene kasv tulenes peamiselt Soome turu marginaalsest kasvust kolmandas kvartalis ning võrreldes eelmise aastaga on täheldatav aktiivsuse suurenemine kaugematel turgudel. Lisandunud on uusi kliente riikidest, kuhu 2024. aasta kolmandas kvartalis müüki ei toimunud. Puitkiudplaadi 2025. aasta 3. kvartali EBITDA oli positiivne 122 tuhat eurot, (2024. aasta 3. kvartalis negatiivne 19 tuhat eurot). Puitkiudplaadi segmendi 2025. aasta 3. kvartali puhaskahjum oli 48 tuhat eurot (2024. aasta 3. kvartalis puhaskahjum 262 tuhat eurot). Kiudplaadi müügitulu geograafiliselt +------------------+-------------+-------------+---------+---------+ | tuh EUR | III kv 2025 | III kv 2024 | 9k 2025 | 9k 2024 | +------------------+-------------+-------------+---------+---------+ | Euroopa Liit | 1 847 | 1 789 | 5 263 | 5 588 | +------------------+-------------+-------------+---------+---------+ | Aafrika | 50 | 89 | 149 | 255 | +------------------+-------------+-------------+---------+---------+ | Aasia | 44 | 17 | 73 | 102 | +------------------+-------------+-------------+---------+---------+ | Lähis-Ida | 27 | 41 | 41 | 96 | +------------------+-------------+-------------+---------+---------+ | Teised regioonid | 20 | 0 | 63 | 14 | +------------------+-------------+-------------+---------+---------+ | KOKKU | 1 988 | 1 936 | 5 589 | 6 055 | +------------------+-------------+-------------+---------+---------+ Kinnisvara haldus Kõrvaltegevusena omab ja haldab Kontsern Pärnu linnas Suur-Jõe tn 48 asuvat kinnistut, millele on kehtestatud detailplaneering elukondliku kinnisvara arendamiseks. Varasemalt omas ja haldas Suur-Jõe 48 kinnistut Nordic Fibreboard AS 100% osalusega tütarettevõte Pärnu Riverside Development OÜ, kuid 30.07.2025 sõlmisid Nordic Fibreboard AS ja Pärnu Riverside Development OÜ ühinemislepingu, mille kohaselt Nordic Fibreboard AS oli ühendavaks ühinguks ning Pärnu Riverside Development OÜ ühendatavaks ühinguks. Ühinemise kuupäev oli 01.06.2025 ning ühinemise tulemusena on Suur-Jõe 48 kinnistu otseseks omanikuks ja haldajaks Nordic Fibreboard AS. 2025. aasta 3. kvartalis kinnisvarahaldusest müügitulu ei saadud (2024. aasta 3. kvartalis 2 tuhat eurot), 2025. aasta 9 kuu jooksul oli müügitulu kinnisvarahaldusest 2 tuhat eurot (2024. aasta 9 kuud: 23 tuhat eurot). Admirali kvartali arendusprojekti projekteerimistööd on lõpetatud. Ehitusload on väljastatud kvartalisisestele teedele ja tehnovõrkudele ning korterelamutele aadressil Admirali 1/3. Uute korterelamute aadressidel Admirali 5/7 ja Admirali 9/11 eelprojektid ning olemasoleva büroohoone rekonstrueerimisprojekt aadressil Suur-Jõe 48 on menetluses ehitusloa saamiseks. Konsolideeritud finantsseisundi ja rahavoogude aruanne Seisuga 30.09.2025 olid Nordic Fibreboard AS varad kokku 9,19 miljonit eurot (30.09.2024: 8,78 miljonit eurot). Nõuded ja ettemaksed olid kokku 1,04 miljonit eurot seisuga 30.09.2025 (30.09.2024: 0,92 miljonit eurot). Varud seisuga 30.09.2025 olid 1,33 miljonit eurot (30.09.2024: 0,87 miljonit eurot) ning Kontserni põhivarad kokku seisuga 30.09.2025 olid 6,81 miljonit eurot (30.09.2024: 6,98 miljonit eurot). Kontserni kohustised kokku seisuga 30.09.2025 olid 6,15 miljonit eurot (30.09.2024: 4,74 miljonit eurot). Võlad ja ettemaksed olid kokku 1,62 miljonit eurot (30.09.2024: 1,11 miljonit eurot), milledest Kontsernil võlgnevusi tarnijatele seisuga 30.09.2025 oli 1,25 miljonit eurot (30.09.2024: 0,77 miljonit eurot). Laenukohustised olid 30.09.2025 seisuga 4,39 miljonit eurot (30.09.2024: 3,51 miljonit eurot), eraldised endistele töötajatele ning muud kohustised olid 30.09.2025 seisuga 0,14 miljonit eurot (30.09.2024: 0,12 miljonit eurot). Nordic Fibreboard konsolideeritud rahavoog äritegevusest 2025. aasta esimese üheksa kuu jooksul oli negatiivne summas 553 tuhat eurot (2024. aasta esimesed üheksa kuud: negatiivne rahavoog 102 tuhat eurot). Investeerimistegevusest oli 2025. aasta esimese üheksa kuu jooksul väljaminev rahavoog summas 156 tuhat eurot, mis koosnes TPD aktsiate müügist ning tehtud investeeringutest tootmisvaradesse ja kinnisvarainvesteeringute objektidesse (2024. aasta esimesed üheksa kuud: väljaminev rahavoog 193 tuhat eurot. Finantseerimistegevusest oli 2025. aasta esimese üheksa kuu kestel sissetulev rahavoog summas 666 tuhat eurot (2024. aasta esimesed üheksa kuud: sissetulev rahavoog 296 tuhat eurot). 2025. aasta esimese üheksa kuu netorahavoo tulemuseks oli väljaminev rahavoog 43 tuhat eurot (2024. aasta esimesed üheksa kuud: sissetulev rahavoog 1 tuhat eurot). KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE +---------------------------------------------+----------+----------+----------+ |tuh EUR |30.09.2025|31.12.2024|30.09.2024| +---------------------------------------------+----------+----------+----------+ |Raha ja raha ekvivalendid | 10| 53| 8| +---------------------------------------------+----------+----------+----------+ |Nõuded ja ettemaksed (Lisa 2) | 1 041| 571| 921| +---------------------------------------------+----------+----------+----------+ |Varud (Lisa 3) | 1 326| 624| 872| +---------------------------------------------+----------+----------+----------+ |Kokku käibevarad | 2 377| 1 248| 1 801| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Kinnisvarainvesteeringud (Lisa 4) | 2 516| 2 380| 2 309| +---------------------------------------------+----------+----------+----------+ |Finantsvarad õiglases väärtuses muutustega | | | | |läbi kasumiaruande (Lisa 7) | 0| 499| 431| +---------------------------------------------+----------+----------+----------+ |Materiaalne põhivara ja vara kasutusõigus | | | | |(Lisa 5) | 4 293| 4 122| 4 236| +---------------------------------------------+----------+----------+----------+ |Immateriaalne põhivara (Lisa 6) | 2| 3| 3| +---------------------------------------------+----------+----------+----------+ |Kokku põhivarad | 6 811| 7 004| 6 979| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |KOKKU VARAD | 9 188| 8 252| 8 780| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Võlakohustised (Lisa 8) | 747| 1 111| 652| +---------------------------------------------+----------+----------+----------+ |Võlad ja ettemaksed (Lisa 9) | 1 620| 788| 1 109| +---------------------------------------------+----------+----------+----------+ |Lühiajalised eraldised (Lisa 10) | 5| 21| 5| +---------------------------------------------+----------+----------+----------+ |Kokku lühiajalised kohustised | 2 372| 1 920| 1 766| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Pikaajalised võlakohustised (Lisa 8) | 3 643| 2 613| 2 859| +---------------------------------------------+----------+----------+----------+ |Pikaajalised eraldised (Lisa 10) | 94| 94| 111| +---------------------------------------------+----------+----------+----------+ |Muud pikaajalised kohustised | 37| 9| 0| +---------------------------------------------+----------+----------+----------+ |Kokku pikaajalised kohustised | 3 774| 2 716| 2 970| +---------------------------------------------+----------+----------+----------+ |Kokku kohustised | 6 146| 4 636| 4 736| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Aktsiakapital (nominaalväärtuses) (Lisa 11) | 450| 450| 450| +---------------------------------------------+----------+----------+----------+ |Kohustuslik reservkapital | 45| 45| 45| +---------------------------------------------+----------+----------+----------+ |Jaotamata kasum | 2 547| 3 121| 3 549| +---------------------------------------------+----------+----------+----------+ |Kokku omakapital | 3 042| 3 616| 4 044| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |KOKKU KOHUSTISED JA OMAKAPITAL | 9 188| 8 252| 8 780| +---------------------------------------------+----------+----------+----------+ KONSOLIDEERITD KASUMI- JA MUU KOONDARUANNE +--------------------------------------+-----------+-----------+-------+-------+ |tuh EUR |III kv 2025|III kv 2024|9k 2025|9k 2024| +--------------------------------------+-----------+-----------+-------+-------+ |Müügitulu | 1 988| 1 938| 5 592| 6 078| +--------------------------------------+-----------+-----------+-------+-------+ |Müüdud toodangu kulu (Lisa 13) | (1 635)| (1 766)|(4 983)|(5 235)| +--------------------------------------+-----------+-----------+-------+-------+ |Brutokasum | 353| 172| 609| 843| +--------------------------------------+-----------+-----------+-------+-------+ | | | | | | +--------------------------------------+-----------+-----------+-------+-------+ |Turustuskulud (Lisa 15) | (268)| (249)| (741)| (725)| +--------------------------------------+-----------+-----------+-------+-------+ |Üldhalduskulud (Lisa 16) | (115)| (69)| (341)| (260)| +--------------------------------------+-----------+-----------+-------+-------+ |Muud äritulud (Lisa 18) | 0| 0| 13| 8| +--------------------------------------+-----------+-----------+-------+-------+ |Muud ärikulud (Lisa 18) | (4)| (4)| (13)| (5)| +--------------------------------------+-----------+-----------+-------+-------+ |Ärikahjum | (34)| (150)| (473)| (139)| +--------------------------------------+-----------+-----------+-------+-------+ | | | | | | +--------------------------------------+-----------+-----------+-------+-------+ |Finantstulud (Lisa 19) | 0| 0| 40| 0| +--------------------------------------+-----------+-----------+-------+-------+ |Finantskulud (Lisa 19) | (43)| (113)| (141)| (219)| +--------------------------------------+-----------+-----------+-------+-------+ |KAHJUM ENNE TULUMAKSUSTAMIST | (77)| (263)| (574)| (358)| +--------------------------------------+-----------+-----------+-------+-------+ | | | | | | +--------------------------------------+-----------+-----------+-------+-------+ |ARUANDEPERIOODI PUHASKAHJUM KOKKU | (77)| (263)| (574)| (358)| +--------------------------------------+-----------+-----------+-------+-------+ | | | | | | +--------------------------------------+-----------+-----------+-------+-------+ |Tava perioodi puhaskahjum aktsia kohta| | | | | |(Lisa 12) | (0,02)| (0,06)| (0,13)| (0,08)| +--------------------------------------+-----------+-----------+-------+-------+ |Lahustatud perioodi puhaskahjum aktsia| | | | | |kohta (Lisa 12) | (0,02)| (0,06)| (0,13)| (0,08)| +--------------------------------------+-----------+-----------+-------+-------+ KONSOLIDEERITUD RAHAVOOGUDE ARUANNE +-----------------------------------------------------------+-------+-------+ |tuh EUR |9k 2025|9k 2024| +-----------------------------------------------------------+-------+-------+ |Äritegevuse rahavood | | | +-----------------------------------------------------------+-------+-------+ |Ärikasum (-kahjum) | (473)| (139)| +-----------------------------------------------------------+-------+-------+ |Korrigeerimised: | | | +-----------------------------------------------------------+-------+-------+ |Kulum (Lisa 5; 6) | 389| 390| +-----------------------------------------------------------+-------+-------+ |Nõuete ja ettemaksete muutus (Lisa 2) | (470)| (387)| +-----------------------------------------------------------+-------+-------+ |Varude muutus (Lisa 3) | (702)| (144)| +-----------------------------------------------------------+-------+-------+ |Äritegevusega seotud kohustiste muutus (Lisa 9) | 860| 353| +-----------------------------------------------------------+-------+-------+ |Eraldiste muutus (Lisa 10) | (16)| (16)| +-----------------------------------------------------------+-------+-------+ |Äritegevusega genereeritud rahavood | (412)| 57| +-----------------------------------------------------------+-------+-------+ |Intressimaksed (Lisa 8; 19) | (131)| (153)| +-----------------------------------------------------------+-------+-------+ |Muud finantstulud ja -kulud | (10)| (6)| +-----------------------------------------------------------+-------+-------+ |Äritegevuse rahavood kokku | (553)| (102)| +-----------------------------------------------------------+-------+-------+ | | | | +-----------------------------------------------------------+-------+-------+ |Investeerimistegevuse rahavood | | | +-----------------------------------------------------------+-------+-------+ |Materiaalse ja immateriaalse põhivara soetus (Lisa 5; 6) | (559)| (153)| +-----------------------------------------------------------+-------+-------+ |Kinnisvarainvesteeringu kapitaliseeritud kulutused (Lisa 4)| (136)| (40)| +-----------------------------------------------------------+-------+-------+ |Finantsvarade müük (Lisa 7) | 539| 0| +-----------------------------------------------------------+-------+-------+ |Investeerimistegevuse rahavood kokku | (156)| (193)| +-----------------------------------------------------------+-------+-------+ | | | | +-----------------------------------------------------------+-------+-------+ |Finantseerimistegevuse rahavood | | | +-----------------------------------------------------------+-------+-------+ |Saadud laenude tagasimaksed (Lisa 8) | (166)| (157)| +-----------------------------------------------------------+-------+-------+ |Saadud laenud seotud osapooltelt (Lisa 8) | 830| 200| +-----------------------------------------------------------+-------+-------+ |Rendikohustiste põhiosa tagasimaksed (Lisa 8) | (18)| (17)| +-----------------------------------------------------------+-------+-------+ |Arvelduskrediidi muutus (Lisa 8) | 20| 270| +-----------------------------------------------------------+-------+-------+ |Finantseerimistegevuse rahavood kokku | 666| 296| +-----------------------------------------------------------+-------+-------+ | | | | +-----------------------------------------------------------+-------+-------+ |RAHA JA RAHA EKVIVALENTIDE MUUTUS | (43)| 1| +-----------------------------------------------------------+-------+-------+ |RAHA JA RAHA EKVIVALENTID PERIOODI ALGUSES | 53| 7| +-----------------------------------------------------------+-------+-------+ |RAHA JA RAHA EKVIVALENTID PERIOODI LÕPUS | 10| 8| +-----------------------------------------------------------+-------+-------+ Enel Äkke Juhatuse liige +372 55525550 [email protected] (https://www.globenewswire.com/Tracker?data=bbykAY7VKSQrzLTWTge0us5VU4ODB8I5XTb_ 6sF_smVCWqfdmKHmzujb_hVdwFdki9Ri0cMh9_q9Ud4I1PrfkcAQ1bery_pjc2fn3Dtl_im7s0- 5hXeix8uSmAwRPq5j11CZ0vWiY1opoAc_JJWkYIbNisLGLTYJPfdyFZZSRgrtcEk7MiN00- cyZLSsTs4v2GBdHBX6SyZAxx9_f0AOTFhJGFqKA7siqcPqwClks4OSmPl66l6d- uIrQOBIcG4sg0taRpux8teB0KkGui31fAruGS1tYXhPxP30yBTOmd2k2bsKF2ddUGcHjzpuep5- vOD_1ohfljvO4PpMBKmXu44Sx9EwsWhQCYAsutRgdYbOYJO2F9jEZaF2ryXRPK_kVU8x2V8Qt4NOD8cr W9ED8Q9aQwXQU5GpIMD6PMozCv5P7bT4W3yXIlFedJP_ikIi83gLlvo6TZppuaprp4bBbcOmDa5WaYIH M1nLJf4JVanTVQwRmW_875o- 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Pealkiri
Nordic Fibreboard AS consolidated unaudited interim report for the third quarter of 2025
Teade
MANAGEMENT REPORT Consolidated net sales for Q3 2025 were EUR 1.99 million, which was a 2.5% increase compared to the same period last year (Q3 2024: EUR 1.94 million). Nordic Fibreboard`s sales revenue Q3 2025 was generated from the Group`s main activity, which is the production and wholesale of fibreboard. The consolidated EBITDA of Nordic Fibreboard for Q3 2025 was positive EUR 94 thousand, the EBITDA margin was positive 5% (Q3 2024: EBITDA was negative EUR 19 thousand, and the EBITDA margin was negative 1%). Compared to the Q3 2024 the Group`s gross margin increased from 16% to 24% in the Q3 2025, which indicates that the Group`s profitability in the Q3 2025 has increased compared to the same period last year. Financial expenses, which consisted of interest expenses, amounted to EUR 43 thousand in Q3 2025 (2024 Q3: EUR 113 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 60 thousand). Group`s consolidated net loss for Q3 2025 was EUR 77 thousand (Q3 2024: net loss EUR 263 thousand). The Management Board assesses the performance of operating segments based on operating profit and EBITDA as a primary measure. As a secondary measure, the Management Board also reviews net revenue. The Group defines EBITDA as profit before extraordinary other operating costs and net finance costs and tax, depreciation and impairment charges. As extraordinary other business expenses, the Group has treated one-time expenses that have not arisen in the course of normal business activities but have arisen from some extraordinary circumstances. EBITDA is not a performance measure defined in IFRS. The Group`s definition of EBITDA may not be comparable to similarly titled operating profit measures and disclosures by other entities. Financial highlights +---------------------------------------------------------------------------+ |Income statement | +-------------------------------+----------+----------+----------+----------+ |EUR thousand | Q3 2025| Q3 2024| 9M 2025| 9M 2024| +-------------------------------+----------+----------+----------+----------+ |Revenue | 1,988| 1,938| 5,592| 6,078| +-------------------------------+----------+----------+----------+----------+ |EBITDA | 94| (19)| (84)| 251| +-------------------------------+----------+----------+----------+----------+ |EBITDA margin | 5%| (1%)| (2%)| 4%| +-------------------------------+----------+----------+----------+----------+ |Operating profit | (34)| (150)| (473)| (139)| +-------------------------------+----------+----------+----------+----------+ |Operating margin | (2%)| (8%)| (8%)| (2%)| +-------------------------------+----------+----------+----------+----------+ |Net profit/-loss | (77)| (263)| (574)| (358)| +-------------------------------+----------+----------+----------+----------+ |Net margin | (4%)| (14%)| (10%)| (6%)| +-------------------------------+----------+----------+----------+----------+ +---------------------------------------------------------------------------+ |Statement of financial position | +-------------------------------+----------+----------+----------+----------+ |EUR thousand |30.09.2025|31.12.2024|30.09.2024|31.12.2023| +-------------------------------+----------+----------+----------+----------+ |Total assets | 9,188| 8,252| 8,780| 8,505| +-------------------------------+----------+----------+----------+----------+ |Return on assets | (6%)| (10%)| (4%)| (8%)| +-------------------------------+----------+----------+----------+----------+ |Equity | 3,042| 3,616| 4,044| 4,402| +-------------------------------+----------+----------+----------+----------+ |Return on equity | (19%)| (22%)| (9%)| (16%)| +-------------------------------+----------+----------+----------+----------+ |Debt-to-equity-ratio | 67%| 56%| 54%| 48%| +-------------------------------+----------+----------+----------+----------+ +-------------------------------+----------+----------+----------+----------+ |Share |30.09.2025|31.12.2024|30.09.2024|31.12.2023| +-------------------------------+----------+----------+----------+----------+ |Last price (EUR)* | 0.70| 0.90| 0.93| 0.90| +-------------------------------+----------+----------+----------+----------+ |Earnings per share (EUR) | (0.22)| (0.17)| (0.11)| (0.15)| +-------------------------------+----------+----------+----------+----------+ |Price-earnings ratio | (3.15)| (5.15)| (8.84)| (5.93)| +-------------------------------+----------+----------+----------+----------+ |Book value of a share (EUR) | 0.68| 0.80| 0.90| 0.98| +-------------------------------+----------+----------+----------+----------+ |Market to book ratio | 1.04| 1.12| 1.03| 0.92| +-------------------------------+----------+----------+----------+----------+ |Market capitalization, (th EUR) | 3,149| 4,049| 4,184| 4,049| +-------------------------------+----------+----------+----------+----------+ |Number of shares (piece) | 4,499,061| 4,499,061| 4,499,061| 4,499,061| +-------------------------------+----------+----------+----------+----------+ Fibreboard production and sales The production and sale of fibreboards is carried out by Nordic Fibreboard Ltd OÜ, a subsidiary of Nordic Fibreboard AS. Fibreboard sales in Q3 2025 were EUR 1.99 million (Q3 2024: EUR 1.94 million). Sales revenue has remained mainly at the same level as last year. The low growth was mainly due to the marginal growth of the Finnish market in the third quarter and an increase in activity in distant markets compared to last year. New customers have been added from countries where there were no sales in the Q3 2024. The EBITDA of the fibreboard for the Q3 2025 was a positive EUR 112 thousand, (Q3 2024: negative EUR 19 thousand). The net loss of the fibreboard for the Q3 2025 was EUR 48 thousand (Q3 2024: net loss EUR 262 thousand). Fibreboard sales by geographical segments +----------------+---------+---------+---------+---------+ | EUR thousand | Q3 2025 | Q3 2024 | 9M 2025 | 9M 2024 | +----------------+---------+---------+---------+---------+ | European Union | 1,847 | 1,789 | 5,263 | 5,588 | +----------------+---------+---------+---------+---------+ | Africa | 50 | 89 | 149 | 255 | +----------------+---------+---------+---------+---------+ | Asia | 44 | 17 | 73 | 102 | +----------------+---------+---------+---------+---------+ | Middle East | 27 | 41 | 41 | 96 | +----------------+---------+---------+---------+---------+ | Other regions | 20 | 0 | 63 | 14 | +----------------+---------+---------+---------+---------+ | TOTAL | 1,988 | 1,936 | 5,589 | 6,055 | +----------------+---------+---------+---------+---------+ Real estate management As a secondary activity, the Group owns and manages a property located at Suur- Jõe tn 48 in the city of Pärnu, for which a detailed plan has been established for the development of residential real estate. Previously, the Suur-Jõe 48 property was owned and managed by Nordic Fibreboard AS's 100% subsidiary Pärnu Riverside Development OÜ, but on 30.07.2025, Nordic Fibreboard AS and Pärnu Riverside Development OÜ entered into a merger agreement, according to which Nordic Fibreboard AS was the acquiring company and Pärnu Riverside Development OÜ was the acquired company. The merger date was 01.06.2025, and as a result of the merger, the direct owner and manager of the Suur-Jõe 48 property is Nordic Fibreboard AS. In Q3 2025, no sales revenue was generated from real estate management (Q3 2024, EUR 2 thousand), in the 9M 2025, sales revenue from real estate management was EUR 2 thousand (9M 2024: EUR 23 thousand). The design work of the Admirali area development project has been completed. Building permits have been issued for the roads and utility networks within the area and for the apartment buildings at Admirali 1/3. Preliminary designs for the new apartment buildings at Admirali 5/7 and Admirali 9/11 and the reconstruction project for the existing office building at Suur-Jõe 48 are in the process of obtaining a building permit. Consolidated statement of financial position and cash flow statement As of 30.09.2025 the total assets of Nordic Fibreboard AS were EUR 9.19million (30.09.2024: 8.78 million). Receivables and prepayments amounted to EUR 1.04 million as at 30.09.2025 (30 .09.2024: EUR 0.92 million). Inventories were EUR 1.33 million as of 30.09.2025 (30.09.2024: also EUR 0.87 million) and the Group´s total fixed assets were EUR 6.81 million as of 30.09.2025 (EUR 6.98 million as of 30.09.2024). The liabilities of the Group as of 30.09.2025 were EUR 6.15 million (30.09.2024: EUR 4.74 million). Payables and prepayments amounted to EUR 1.62 million (30.09.2024: EUR 1.11 million), of which the Group has payables of EUR 1.25 million as at 30.09.2025 (30.09.2024: EUR 0.77 million). Borrowings amounted to EUR 4.39 million as at 30.09.2025 (30.09.2024: EUR 3.51 million), provision for former employees and other liabilities amounted to EUR 0.14 million (30.09.2024: EUR 0.12 million). Nordic Fibreboard`s consolidated cash flow from operating activities for the first nine months of 2025 was negative in the amount of EUR 553 thousand (first nine months of 2024: negative cash flow of EUR 102 thousand). Cash outflow due to investment activities during the first nine months 2025 was EUR 156 thousand, which consisted of the sale of TPD shares and investments in production assets and real estate investment objects (first nine months of 2024: cash outflow EUR 193 thousand). Cash inflows due to financing activities was EUR 666 thousand for the first nine months of 2025, (first nine months of 2024: cash inflow EUR 296 thousand). The net cash flow for the first nine months of 2025 resulted in a cash outflow of EUR 43 thousand (first nine months of 2024: cash inflow EUR 1 thousand). CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS +---------------------------------------------+----------+----------+----------+ |EUR thousand |30.09.2025|31.12.2024|30.09.2024| +---------------------------------------------+----------+----------+----------+ |Cash and cash equivalents | 10| 53| 8| +---------------------------------------------+----------+----------+----------+ |Receivables and prepayments (Note 2) | 1,041| 571| 921| +---------------------------------------------+----------+----------+----------+ |Inventories (Note 3) | 1,326| 624| 872| +---------------------------------------------+----------+----------+----------+ |Total current assets | 2,377| 1,248| 1,801| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Investment property (Note 4) | 2,516| 2,380| 2,309| +---------------------------------------------+----------+----------+----------+ |Financial assets at fair value through profit| | | | |or loss (Note 7) | 0| 499| 431| +---------------------------------------------+----------+----------+----------+ |Property, plant, equipment and right-of use | | | | |assets (Note 5) | 4,293| 4,122| 4,236| +---------------------------------------------+----------+----------+----------+ |Intangible assets (Note 6) | 2| 3| 3| +---------------------------------------------+----------+----------+----------+ |Total non-current assets | 6,811| 7,004| 6,979| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |TOTAL ASSETS | 9,188| 8,252| 8,780| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Borrowings (Note 8) | 747| 1,111| 652| +---------------------------------------------+----------+----------+----------+ |Payables and prepayments (Note 9) | 1,620| 788| 1,109| +---------------------------------------------+----------+----------+----------+ |Short-term provisions (Note 10) | 5| 21| 5| +---------------------------------------------+----------+----------+----------+ |Total current liabilities | 2,372| 1,920| 1,766| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Long-term borrowings (Note 8) | 3,643| 2,613| 2,859| +---------------------------------------------+----------+----------+----------+ |Long-term provisions (Note 10) | 94| 94| 111| +---------------------------------------------+----------+----------+----------+ |Other long-term liabilities | 37| 9| 0| +---------------------------------------------+----------+----------+----------+ |Total non-current liabilities | 3,774| 2,716| 2,970| +---------------------------------------------+----------+----------+----------+ |Total liabilities | 6,146| 4,636| 4,736| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |Share capital (at nominal value) (Note 11) | 450| 450| 450| +---------------------------------------------+----------+----------+----------+ |Statutory reserve capital | 45| 45| 45| +---------------------------------------------+----------+----------+----------+ |Retained earnings | 2,547| 3,121| 3,549| +---------------------------------------------+----------+----------+----------+ |Total equity | 3,042| 3,616| 4,044| +---------------------------------------------+----------+----------+----------+ | | | | | +---------------------------------------------+----------+----------+----------+ |TOTAL LIABILITIES AND EQUITY | 9,188| 8,252| 8,780| +---------------------------------------------+----------+----------+----------+ CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME +--------------------------------------+---------+---------+---------+---------+ | EUR thousand | Q3 2025 | Q3 2024 | 9M 2025 | 9M 2024 | +--------------------------------------+---------+---------+---------+---------+ | Revenue (Note 13) | 1,988 | 1,938 | 5,592 | 6,078 | +--------------------------------------+---------+---------+---------+---------+ | Cost of goods sold (Note 14) | (1,635) | (1,766) | (4,983) | (5,235) | +--------------------------------------+---------+---------+---------+---------+ | Gross profit (loss) | 353 | 172 | 609 | 843 | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | Distribution costs (Note 15) | (268) | (249) | (741) | (725) | +--------------------------------------+---------+---------+---------+---------+ | Administrative expenses (Note 16) | (115) | (69) | (341) | (260) | +--------------------------------------+---------+---------+---------+---------+ | Other operating income (Note 18) | 0 | 0 | 13 | 8 | +--------------------------------------+---------+---------+---------+---------+ | Other operating expenses (Note 18) | (4) | (4) | (13) | (5) | +--------------------------------------+---------+---------+---------+---------+ | Operating profit (loss) | (34) | (150) | (473) | (139) | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | Finance income (Note 19) | 0 | 0 | 40 | 0 | +--------------------------------------+---------+---------+---------+---------+ | Finance costs (Note 19) | (43) | (113) | (141) | (219) | +--------------------------------------+---------+---------+---------+---------+ | PROFIT (LOSS) BEFORE INCOME TAX | (77) | (263) | (574) | (358) | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | NET PROFIT (LOSS) FOR THE PERIOD | (77) | (263) | (574) | (358) | +--------------------------------------+---------+---------+---------+---------+ | | | | | | +--------------------------------------+---------+---------+---------+---------+ | Basic earnings per share (Note 12) | (0.02) | (0.06) | (0.13) | (0.08) | +--------------------------------------+---------+---------+---------+---------+ | Diluted earnings per share (Note 12) | (0.02) | (0.06) | (0.13) | (0.08) | +--------------------------------------+---------+---------+---------+---------+ CONSOLIDATED STATEMENT OF CASH FLOWS +--------------------------------------------------------------+-------+-------+ |EUR thousand |9M 2025|9M 2024| +--------------------------------------------------------------+-------+-------+ |Cash flow from operating activities | | | +--------------------------------------------------------------+-------+-------+ |Operating profit (-loss) | (473)| (139)| +--------------------------------------------------------------+-------+-------+ |Adjustments: | | | +--------------------------------------------------------------+-------+-------+ |Depreciation charge (Note 5; 6) | 389| 390| +--------------------------------------------------------------+-------+-------+ |Change in trade and other receivables (Note 2) | (470)| (387)| +--------------------------------------------------------------+-------+-------+ |Change in inventories (Note 3) | (702)| (144)| +--------------------------------------------------------------+-------+-------+ |Change in trade and other payables (Note 9) | 860| 353| +--------------------------------------------------------------+-------+-------+ |Change of provisions (Note 10) | (16)| (16)| +--------------------------------------------------------------+-------+-------+ |Cash generated from operations | (412)| 57| +--------------------------------------------------------------+-------+-------+ |Interest payments (Note 8; 19) | (131)| (153)| +--------------------------------------------------------------+-------+-------+ |Net other financial income and expense | (10)| (6)| +--------------------------------------------------------------+-------+-------+ |Net cash generated from operating activities | (553)| (102)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from investing activities | | | +--------------------------------------------------------------+-------+-------+ |Purchase of property, plant and equipment and intangible | | | |assets (Note 5; 6) | (559)| (153)| +--------------------------------------------------------------+-------+-------+ |Capitalized cost of real estate investment (Note 4) | (136)| (40)| +--------------------------------------------------------------+-------+-------+ |Sales of financial assets (Note 7) | 539| 0| +--------------------------------------------------------------+-------+-------+ |Net cash used in investing activities | (156)| (193)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from financing activities | | | +--------------------------------------------------------------+-------+-------+ |Repayment of loans received (Note 8) | (166)| (157)| +--------------------------------------------------------------+-------+-------+ |Loans received from related parties (Note 8) | 830| 200| +--------------------------------------------------------------+-------+-------+ |Finance lease payments (Note 8) | (18)| (17)| +--------------------------------------------------------------+-------+-------+ |Change in overdraft (Note 8) | 20| 270| +--------------------------------------------------------------+-------+-------+ |Net cash (used in)/from financing activities | 666| 296| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |NET CHANGE IN CASH | (43)| 1| +--------------------------------------------------------------+-------+-------+ |OPENING BALANCE OF CASH | 53| 7| +--------------------------------------------------------------+-------+-------+ |CLOSING BALANCE OF CASH | 10| 8| +--------------------------------------------------------------+-------+-------+ CONSOLIDATED STATEMENT OF CHANGES IN EQUITY +----------------------+-------------+------------------+----------------+-----+ | | |Statutory reserve | Retained | | |EUR thousand |Share capital| capital | earnings |Total| +----------------------+-------------+------------------+----------------+-----+ | | | | | | +----------------------+-------------+------------------+----------------+-----+ |Balance at 31.12.2023 | 450| 45| 3,907|4,402| +----------------------+-------------+------------------+----------------+-----+ | | | | | | +----------------------+-------------+------------------+----------------+-----+ |Net loss for 9M 2024 | 0| 0| (358)|(358)| +----------------------+-------------+------------------+----------------+-----+ |Total comprehensive | | | | | |income for 9M 2024 | 0| 0| (358)|(358)| +----------------------+-------------+------------------+----------------+-----+ |Balance at 30.09.2024 | 450| 45| 3,549|4,044| +----------------------+-------------+------------------+----------------+-----+ | | | | | | +----------------------+-------------+------------------+----------------+-----+ |Balance at 31.12.2024 | 450| 45| 3,121|3,616| +----------------------+-------------+------------------+----------------+-----+ | | | | | | +----------------------+-------------+------------------+----------------+-----+ |Net loss for 9M 2025 | 0| 0| (574)|(574)| +----------------------+-------------+------------------+----------------+-----+ |Total comprehensive | | | | | |income for 9M 2025 | 0| 0| (574)|(574)| +----------------------+-------------+------------------+----------------+-----+ |Balance at 30.09.2025 | 450| 45| 2,547|3,042| +----------------------+-------------+------------------+----------------+-----+ Enel Äkke Member of Management Board +372 55525550 [email protected]