Börsiteade
Nordic Fibreboard AS
LEI kood
54930002HOIXBD15OM06
Emitendi suuruskategooria
Väikekontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Emitendi registreeritud asukoht
Eesti
Üldandmed
Kategooriad
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Teate ID
18670
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Esitamise kuupäev ja aeg
29.05.2026 22:30:00
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Pealkiri
Nordic Fibreboard AS 2026. aasta I kvartali majandustulemused
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JUHTKONNA ARUANNE Nordic Fibreboard AS konsolideeritud müügitulu oli 2026. aasta 1. kvartalis 1,86 miljonit eurot, mis oli 7,3% tõusu võrreldes eelmise aasta sama perioodiga (2025 1. kvartalis 1,74 miljonit eurot), müügitulu kasvas 126 tuhande euro võrra. Kontserni peamine tegevusala on puitkiudplaadi tootmine ja hulgimüük, mis moodustas valdava osa 2026. aasta 1. kvartali kontserni müügitulust. Teiseks segmendiks on Pärnus Suur-Jõe tänaval oleva kinnisvara haldamine, kuid seoses Suur-Jõe tänaval asuva hoone rendilepingute lõpetamisega 2024. aasta augustis, on selle segmendi müügitulu ebaoluline. Nordic Fibreboard konsolideeritud EBITDA oli 2026. aasta 1. kvartalis negatiivne 395 tuhat eurot, EBITDA rentaablus negatiivne 21% (2025. aasta 1. kvartali EBITDA negatiivne 85 tuhat eurot ning EBITDA rentaablus negatiivne 5%). 2026. aasta 1. kvartali aasta tulemustele avaldas negatiivset mõju tehase plaanipärane seisak jaanuari alguses seoses uuele katlamajale üleminekuga ning gaasi hindade oluline tõus 2026. aasta veebruaris. 2026. aasta 1. kvartali finantskulud olid 41 tuhat eurot, mis koosnesid laenuintressikuludest ja muudest finantskuludest (51 tuhat eurot 2025. aasta 1. kvartalis). Kontserni 2026. aasta 1. kvartali konsolideeritud puhaskahjum oli 570 tuhat eurot (2025. aasta 1. kvartalis puhaskahjum 228 tuhat eurot). Kiudplaadi tootmine ja müük Puitkiudplaadi müügitulu ulatus 2026. aasta 1. kvartalis 1,86 miljoni euroni, võrreldes 1,73 miljoni euroga 2025. aasta sama perioodil, mis tähendab 127 tuhande euro ehk 7,3% suurust kasvu. Müügitulemuste paranemist toetasid eelkõige Soome ehituspoed, kelle tellimuste maht suurenes 241 tuhande euro võrra, olles 855 tuhat eurot 1. kvartal 2026 ja 614 tuhat eurot 1. kvartal 2025. Puitkiudplaadi segmendi 2026. aasta 1. kvartali EBITDA oli negatiivne 321 tuhat eurot (2025. aasta 1. kvartalis negatiivne 62 tuhat eurot). Puitkiudplaadi segmendi 2026. aasta 1. kvartali puhaskahjum oli 496 tuhat eurot (2025. aasta 1. kvartalis puhaskahjum 204 tuhat eurot). 2026. aasta 1. kvartali EBITDA-le avaldas uue gaasikatlamaja kasutusele võtmine, mille kalibreerimine ja tööle seadmine võttis ca kaks kuud ning külm ilm, mis suurendas tavapärast energiatarbimist. Veebruari lõpus toimunud USA sõjaline rünnak Iraani vastu tõstis järsult ka energiakandjate hindu ning gaasi turuhind pea kahekordistus. Nüüdseks on gaasi hind langenud, kuid püsib siiski ca 50% kõrgemal tasemel kui aasta alguses. Kiudplaadi müügitulu geograafiliselt +------------------+-----------------------+ | | tuh EUR | +------------------+-----------+-----------+ | Regioon | I kv 2026 | I kv 2025 | +------------------+-----------+-----------+ | Euroopa Liit | 1 781 | 1 639 | +------------------+-----------+-----------+ | Aasia | 13 | 0 | +------------------+-----------+-----------+ | Aafrika | 62 | 87 | +------------------+-----------+-----------+ | Teised regioonid | 5 | 8 | +------------------+-----------+-----------+ | KOKKU | 1 861 | 1 734 | +------------------+-----------+-----------+ Kinnsvara haldus Kõrvaltegevusena omab ja haldab Kontsern Pärnu linnas Suur-Jõe tn 48 asuvat endist mööblivabriku kinnistut, millele on kehtestatud detailplaneering elukondliku kinnisvara arendamiseks (Admirali kvartal). 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 omanikuks ja haldajaks Nordic Fibreboard AS. Admirali kvartali arendusprojekti projekteerimistööd on lõpetatud. Ehitusload on väljastatud kvartalisisestele teedele ja tehnovõrkudele ning korterelamutele aadressil Admirali 1/3, Admirali 5/7 ja Admirali 9/11 ning olemasoleva büroohoone rekonstrueerimisele aadressil Suur-Jõe 48. Jaanuaris 2026 sõlmis Nordic Fibreboard AS ostu-müügi eellepingu Pärnus Suur-Jõe tn 48 ja Admirali tänaval asuva kümne kinnistu müümiseks. Hetkel on kinnistud Nordic Fibreboard AS omandis ning kinnistute ostu-müügileping (notariaalne asjaõigusleping) sõlmitakse potentsiaalse Ostjaga peale eellepingu tingimuste täitmist hiljemalt 30.06.2026. Konsolideeritud finantsseisundi ja rahavoogude aruanne Seisuga 31.03.2026 olid Nordic Fibreboard AS varad kokku 9,7 miljonit eurot (31.03.2025: 8,7 miljonit eurot). Kontserni kohustised kokku seisuga 31.03.2026 olid 5,8 miljonit eurot (31.03.2025: 5,3 miljonit eurot), milledest kontsernil võlgnevusi tarnijatele oli 1,5 miljonit eurot seisuga 31.03.2026 (31.03.2025: 1,0 miljonit eurot) ning laenukohustisi 3,3 miljonit eurot seisuga 31.03.2026 (31.03.2025: 3,8 miljonit eurot). Nõuded ja ettemaksed olid kokku 1,0 miljonit eurot seisuga 31.03.2026 (31.03.2025: 1,3 miljonit eurot). Varud seisuga 31.03.2026 olid 1,1 miljonit eurot (31.03.2025: 0,9 miljonit eurot). Kontserni põhivarad kokku seisuga 31.03.2026 olid 7,5 miljonit eurot (31.03.2025: 6,4 miljonit eurot). Kontserni äritegevuse tulemuseks 2026. aasta 3 kuu jooksul oli negatiivne rahavoog 13 tuhat eurot (2025. aasta 3 kuud negatiivne rahavoog 528 tuhat eurot). Investeerimistegevuse tulemuseks oli 2026. aasta 3 kuu jooksul negatiivne rahavoog summas 169 tuhat eurot, mis koosnes investeeringutest põhivarasse (2025. aasta 3 kuud positiivne rahavoog 471 tuhat eurot, mis koosnes tehtud investeeringutest tootmisvaradesse summas 64 tuhat eurot ning kinnisvarainvesteeringusse summas 4 tuhat eurot ning 539 tuhat eurot saadi finantsvarade (TPD aktsiad) müügist). Finantseerimistegevusest oli sissetulev rahavoog 2026. aasta 3 kuu jooksul 152 tuhat eurot (2025. aasta 3 kuu sissetulev rahavoog 84 tuhat eurot). 2026. aasta 3 kuu netorahavoo tulemuseks oli negatiivne rahavoog summas 4 tuhat eurot (2025. aasta 3 kuud positiivne rahavoog summas 27 tuhat eurot). Töötajad Seisuga 31.03.2026 töötas Kontsernis 57 inimest (31.03.2025: 69 inimest). Töötajate keskmine arv oli 2026. aasta esimeses kvartalis 59 inimest (1. kvartalis 2025 69 inimest). 2026. aasta 1. kvartali tööjõukulud koos maksukuludega olid 0,41 miljonit eurot (2025. aasta 1. kvartalis 0,47 miljonit eurot). Valdusettevõtte ja Kontserni tütarettevõtete juhatuse liikmetele arvestatud tasud koos maksukuludega 2026. aasta 1. kvartalis olid 27 tuhat eurot (2025. aasta 1. kvartalis 66 tuhat eurot). Kontsern käsitleb tööjõukuludena töötasu (sh puhkusetasu) koos lisatasudega, töötasult arvestatud makse, erisoodustusi ja erisoodustustelt arvestatud makse. Tuleviku väljavaade Kiudplaadi tootmine ja müük Nordic Fibreboard Ltd OÜ hindab lähikuudel puitkiudplaadi nõudlust stabiilseks ning eeldab müügimahtude püsimist senisel tasemel. Ettevõte keskendub jätkuvalt olemasolevate klientide ja turgude arendamisele ning uute müügivõimaluste loomisele, eesmärgiga toetada müügimahtude kasvu. Suurem fookus on Põhjamaade turu kasvatamisel, kaasates selleks ka täiendavat personali. Viimastel kuudel on suurendatud fookust ka siseviimistluspaneelide tootearendusele ning selle tooterühma müügivõimaluste laiendamisele erinevatel turgudel. Kontsern viis ellu investeeringu kaasaegsetesse energialahendustesse, mille eesmärk oli tootmisprotsesside töökindluse ja energiatõhususe parandamine. Projekti raames uuendati auru tootmiseks kasutatavat katlasüsteemi, mille lõplik valmine oli jaanuar 2026. Kinnisvara haldus Kinnisvarahalduse valdkonda kuulub Pärnus, aadressil Suur-Jõe 48 asuva kinnistu haldamine ning arendustegevuste kavandamine ja elluviimine (Admirali kvartal). Admirali kvartali arendusprojekti projekteerimistööd on lõpetatud. Ehitusload on väljastatud kvartalisisestele teedele ja tehnovõrkudele ning korterelamutele aadressil Admirali 1/3, Admirali 5/7 ja Admirali 9/11 ning olemasoleva büroohoone rekonstrueerimisele aadressil Suur-Jõe 48. Jaanuaris 2026 sõlmis Nordic Fibreboard AS ostu-müügi eellepingu Pärnus Suur-Jõe tn 48 ja Admirali tänaval asuva kümne kinnistu müümiseks. Hetkel on kinnistud Nordic Fibreboard AS omandis ning kinnistute ostu-müügileping (notariaalne asjaõigusleping) sõlmitakse potentsiaalse Ostjaga peale eellepingu tingimuste täitmist hiljemalt 30.06.2026. Finantssuhtarvud +--------------------------------------------- | tuh EUR +--------------------+-----------+-----------+ | Kasumiaruanne | I kv 2026 | I kv 2025 | +--------------------+-----------+-----------+ | Müügitulu | 1 861 | 1 735 | +--------------------+-----------+-----------+ | EBITDA | (395) | (85) | +--------------------+-----------+-----------+ | EBITDA rentaablus | (21%) | (5%) | +--------------------+-----------+-----------+ | Ärikasum/-kahjum | (530) | (217) | +--------------------+-----------+-----------+ | Ärirentaablus | (28%) | (13%) | +--------------------+-----------+-----------+ | Puhaskasum/-kahjum | (570) | (228) | +--------------------+-----------+-----------+ | Puhasrentaablus | (31%) | (13%) | +--------------------+-----------+-----------+ +------------------------------------------+------------+------------+ | Bilanss | 31.03.2026 | 31.12.2025 | +------------------------------------------+------------+------------+ | Koguvarad | 9 694 | 9 323 | +------------------------------------------+------------+------------+ | Koguvarade puhasrentaablus | (6%) | (12%) | +------------------------------------------+------------+------------+ | Omakapital | 3 892 | 4 462 | +------------------------------------------+------------+------------+ | Omakapitali puhasrentaablus | (15%) | (26%) | +------------------------------------------+------------+------------+ | Võlakordaja | 60% | 52% | +------------------------------------------+------------+------------+ +------------------------------------------+------------+------------+ | Aktsia | 31.03.2026 | 31.12.2025 | +------------------------------------------+------------+------------+ | Aktsia viimane hind (EUR)* | 0,70 | 0,77 | +------------------------------------------+------------+------------+ | Puhaskasum aktsia kohta (EUR) | (0,18) | (0,14) | +------------------------------------------+------------+------------+ | Hind-tulu (PE) suhtarv | (3,98) | (5,67) | +------------------------------------------+------------+------------+ | Aktsia raamatupidamisväärtus (EUR) | 0,46 | 0,53 | +------------------------------------------+------------+------------+ | Turuhinna ja raamatupidamisväärtuse suhe | 1,53 | 1,47 | +------------------------------------------+------------+------------+ | Turukapitalisatsioon (tuh EUR) | 5 949 | 6 544 | +------------------------------------------+------------+------------+ | Aktsiate arv (tk) | 8 499 061 | 8 499 061 | +------------------------------------------+------------+------------+ KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE +----------------------------------+----------+----------+----------+----------+ |tuh EUR |31.03.2026|31.12.2025|31.03.2025|31.12.2024| +----------------------------------+----------+----------+----------+----------+ |Raha ja raha ekvivalendid | 1| 5| 80| 53| +----------------------------------+----------+----------+----------+----------+ |Nõuded ja ettemaksed (Lisa 2) | 1 028| 790| 1 256| 571| +----------------------------------+----------+----------+----------+----------+ |Varud (Lisa 3) | 1 136| 1 034| 945| 624| +----------------------------------+----------+----------+----------+----------+ |Kokku käibevarad | 2 164| 1 829| 2 281| 1 248| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Kinnisvarainvesteeringud (Lisa 4) | 2 541| 2 541| 2 384| 2 380| +----------------------------------+----------+----------+----------+----------+ |Finantsvarad õiglases väärtuses | | | | | |muutustega läbi kasumiaruande | | | | | |(Lisa 7) | 0| 0| 0| 499| +----------------------------------+----------+----------+----------+----------+ |Materiaalne põhivara ja vara | | | | | |kasutusõigus (Lisa 5) | 4 988| 4 952| 4 055| 4 122| +----------------------------------+----------+----------+----------+----------+ |Immateriaalne põhivara (Lisa 6) | 1| 1| 2| 3| +----------------------------------+----------+----------+----------+----------+ |Kokku põhivarad | 7 530| 7 494| 6 441| 7 004| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |KOKKU VARAD | 9 694| 9 323| 8 722| 8 252| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Võlakohustised (Lisa 8) | 2 511| 2 963| 855| 1 111| +----------------------------------+----------+----------+----------+----------+ |Võlad ja ettemaksed (Lisa 9) | 2 348| 1 553| 1 379| 788| +----------------------------------+----------+----------+----------+----------+ |Lühiajalised eraldised (Lisa 10) | 18| 24| 16| 21| +----------------------------------+----------+----------+----------+----------+ |Kokku lühiajalised kohustised | 4 877| 4 540| 2 250| 1 920| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Pikaajalised võlakohustised (Lisa | | | | | |8) | 809| 205| 2 953| 2 613| +----------------------------------+----------+----------+----------+----------+ |Pikaajalised eraldised (Lisa 10) | 72| 72| 94| 94| +----------------------------------+----------+----------+----------+----------+ |Muud pikaajalised kohustised | 44| 44| 37| 9| +----------------------------------+----------+----------+----------+----------+ |Kokku pikaajalised kohustised | 925| 321| 3 084| 2 716| +----------------------------------+----------+----------+----------+----------+ |Kokku kohustised | 5 802| 4 861| 5 334| 4 636| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Aktsiakapital (nominaalväärtuses) | | | | | |(Lisa 11) | 850| 850| 450| 450| +----------------------------------+----------+----------+----------+----------+ |Ülekurss | 1 600| 1 600| 0| 0| +----------------------------------+----------+----------+----------+----------+ |Kohustuslik reservkapital | 45| 45| 45| 45| +----------------------------------+----------+----------+----------+----------+ |Jaotamata kasum | 1 397| 1 967| 2 893| 3 121| +----------------------------------+----------+----------+----------+----------+ |Kokku omakapital | 3 892| 4 462| 3 388| 3 616| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |KOKKU KOHUSTISED JA OMAKAPITAL | 9 694| 9 323| 8 722| 8 252| +----------------------------------+----------+----------+----------+----------+ KONSOLIDEERITD KASUMI- JA MUU KOONDARUANNE +------------------------------------------------------+---------+---------+ |tuh EUR |I kv 2026|I kv 2025| +------------------------------------------------------+---------+---------+ |Müügitulu (Lisa 13) | 1 861| 1 735| +------------------------------------------------------+---------+---------+ |Müüdud toodangu kulu (Lisa 14) | 1 966| 1 608| +------------------------------------------------------+---------+---------+ |Brutokasum (-kahjum) | (105)| 127| +------------------------------------------------------+---------+---------+ | | | | +------------------------------------------------------+---------+---------+ |Turustuskulud (Lisa 15) | 261| 228| +------------------------------------------------------+---------+---------+ |Üldhalduskulud (Lisa 16) | 154| 111| +------------------------------------------------------+---------+---------+ |Muud äritulud (Lisa 18) | 8| 0| +------------------------------------------------------+---------+---------+ |Muud ärikulud (Lisa 18) | 18| 5| +------------------------------------------------------+---------+---------+ |Ärikahjum | (530)| (217)| +------------------------------------------------------+---------+---------+ | | | | +------------------------------------------------------+---------+---------+ |Finantstulud (Lisa 19) | 0| 40| +------------------------------------------------------+---------+---------+ |Finantskulud (Lisa 19) | 41| 51| +------------------------------------------------------+---------+---------+ |KAHJUM ENNE TULUMAKSUSTAMIST | (570)| (228)| +------------------------------------------------------+---------+---------+ | | | | +------------------------------------------------------+---------+---------+ |ARUANDEPERIOODI PUHASKAHJUM KOKKU | (570)| (228)| +------------------------------------------------------+---------+---------+ | | | | +------------------------------------------------------+---------+---------+ |Tava perioodi puhaskahjum aktsia kohta (Lisa 12) | (0,07)| (0,05)| +------------------------------------------------------+---------+---------+ |Lahustatud perioodi puhaskahjum aktsia kohta (Lisa 12)| (0,07)| (0,05)| +------------------------------------------------------+---------+---------+ KONSOLIDEERITUD RAHAVOOGUDE ARUANNE +--------------------------------------------------------+---------+---------+ |tuh EUR |1 kv 2026|1 kv 2025| +--------------------------------------------------------+---------+---------+ |Äritegevuse rahavood | | | +--------------------------------------------------------+---------+---------+ |Ärikasum (-kahjum) | (530)| (217)| +--------------------------------------------------------+---------+---------+ |Korrigeerimised: | | | +--------------------------------------------------------+---------+---------+ |Kulum (Lisa 5; 6) | 135| 132| +--------------------------------------------------------+---------+---------+ |Nõuete ja ettemaksete muutus (Lisa 2) | (238)| (685)| +--------------------------------------------------------+---------+---------+ |Varude muutus (Lisa 3) | (102)| (321)| +--------------------------------------------------------+---------+---------+ |Äritegevusega seotud kohustiste muutus (Lisa 9) | 795| 619| +--------------------------------------------------------+---------+---------+ |Eraldiste muutus (Lisa 10) | (6)| (5)| +--------------------------------------------------------+---------+---------+ |Äritegevusega genereeritud rahavood | 54| (477)| +--------------------------------------------------------+---------+---------+ |Intressimaksed (Lisa 8; 19) | (36)| (45)| +--------------------------------------------------------+---------+---------+ |Muud finantstulud ja -kulud (Lisa 19) | (5)| (6)| +--------------------------------------------------------+---------+---------+ |Äritegevuse rahavood kokku | 13| (528)| +--------------------------------------------------------+---------+---------+ | | | | +--------------------------------------------------------+---------+---------+ |Investeerimistegevuse rahavood | | | +--------------------------------------------------------+---------+---------+ |Materiaalse ja immateriaalse põhivara soetus (Lisa 5; 6)| (169)| (64)| +--------------------------------------------------------+---------+---------+ |Kinnisvarainvesteeringu soetus (Lisa 4) | 0| (4)| +--------------------------------------------------------+---------+---------+ |Finantsinvesteeringute müük | 0| 539| +--------------------------------------------------------+---------+---------+ |Investeerimistegevuse rahavood kokku | (169)| 471| +--------------------------------------------------------+---------+---------+ | | | | +--------------------------------------------------------+---------+---------+ |Finantseerimistegevuse rahavood | | | +--------------------------------------------------------+---------+---------+ |Saadud laenude tagasimaksed (Lisa 8) | (62)| (55)| +--------------------------------------------------------+---------+---------+ |Saadud laenud seotud osapooltelt (Lisa 8) | 343| 140| +--------------------------------------------------------+---------+---------+ |Rendikohustiste põhiosa tagasimaksed (Lisa 8) | (6)| (6)| +--------------------------------------------------------+---------+---------+ |Arvelduskrediidi muutus (Lisa 8) | (123)| 5| +--------------------------------------------------------+---------+---------+ |Finantseerimistegevuse rahavood kokku | 152| 84| +--------------------------------------------------------+---------+---------+ | | | | +--------------------------------------------------------+---------+---------+ |RAHA JA RAHA EKVIVALENTIDE MUUTUS | (4)| 27| +--------------------------------------------------------+---------+---------+ |RAHA JA RAHA EKVIVALENTID PERIOODI ALGUSES | 5| 53| +--------------------------------------------------------+---------+---------+ |RAHA JA RAHA EKVIVALENTID PERIOODI LÕPUS | 1| 80| +--------------------------------------------------------+---------+---------+
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Nordic Fibreboard AS unaudited financial report for the Q1 of 2026
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MANAGEMENT REPORT Nordic Fibreboard AS consolidated net revenue in Q1 2026 was EUR1.86 million, representing a 7.3% increase compared to the same period of the previous year (Q1 2025: EUR1.74 million), revenue increased by EUR126 thousand. The Group's main business activity is the production and wholesale of fibreboard, which accounted for the vast majority of the Group's revenue in Q1 2026. The second segment comprises the management of the property located on Suur-Jõe Street in Pärnu. However, following the termination of the lease agreements for the building in August 2024, the revenue generated by this segment is immaterial. Nordic Fibreboard's consolidated EBITDA in Q1 2026 was negative EUR395 thousand, with an EBITDA margin of negative 21% (Q1 2025 EBITDA: negative EUR85 thousand, EBITDA margin: negative 5%). The results for the Q1 2026 were negatively impacted by the scheduled shutdown of the factory in early January in connection with the transition to the new boiler house, as well as by a significant increase in gas prices in February 2026. Financial expenses in Q1 2026 were EUR41 thousand, consisting of loan interest costs and other financial costs (EUR51 thousand in Q1 2025). The Group's consolidated net loss for Q1 2026 was EUR570 thousand (Q1 2025 net loss: EUR228 thousand). Fibreboard production and sales Revenue from fibreboard sales amounted to EUR1.86 million in Q1 2026, compared with EUR1.73 million in the same period of 2025, representing an increase of EUR127 thousand, or 7.3%. The improvement in sales performance was mainly supported by Finnish DIY stores, whose order volume increased by EUR241 thousand, from EUR614 thousand in Q1 2025 to EUR855 thousand in Q1 2026. The fibreboard segment's EBITDA in Q1 2026 was negative EUR321 thousand (Q1 2025: negative EUR62 thousand). The fibreboard segment's net loss in Q1 2026 was EUR496 thousand (Q1 2025 net loss: EUR204 thousand). The EBITDA for Q1 2026 was impacted by the commissioning of the new gas boiler house, the calibration and start-up of which took approximately two months, as well as by cold weather conditions, which increased normal energy consumption. In late February, the US military attack on Iran caused a sharp increase in energy prices, with the market price of gas nearly doubling. Gas prices have since fallen, but remain approximately 50% higher than at the beginning of the year. Fibreboard sales by geographical segments +----------------+-------------------+ | | EUR thousand | +----------------+---------+---------+ | Region | Q1 2026 | Q1 2025 | +----------------+---------+---------+ | European Union | 1,781 | 1,639 | +----------------+---------+---------+ | Asia | 13 | 0 | +----------------+---------+---------+ | Africa | 62 | 87 | +----------------+---------+---------+ | Other regions | 5 | 8 | +----------------+---------+---------+ | TOTAL | 1,861 | 1,734 | +----------------+---------+---------+ Real estate management As a secondary activity, the Group owns and manages the former furniture factory property located at Suur-Jõe 48 in the city of Pärnu, for which a detailed plan has been established for residential real estate development (Admirali Quarter). Previously, the Suur-Jõe 48 property was owned and managed by Pärnu Riverside Development OÜ, a wholly owned subsidiary of Nordic Fibreboard AS, however on 30.07.2025 Nordic Fibreboard AS and Pärnu Riverside Development OÜ entered into a merger agreement, under which Nordic Fibreboard AS was the acquiring entity and Pärnu Riverside Development OÜ was the entity being absorbed. The merger date was 01.06.2025 and as a result of the merger, the Suur-Jõe 48 property is now directly owned by Nordic Fibreboard AS. The design works for the Admirali Quarter development project at Suur-Jõe 48 have been completed. Building permits have been issued for the internal roads and utility networks within the quarter, for apartment buildings at Admirali 1/3, Admirali 5/7, and Admirali 9/11, as well as for the reconstruction of the existing office building at Suur-Jõe 48. 08.01.2026 Nordic Fibreboard AS entered into a preliminary sale-purchase agreement for the sale of ten properties located on Suur-Jõe Street and Admirali Street in Pärnu. The properties are currently owned by Nordic Fibreboard AS, and the final sale-purchase agreement (notarial real rights agreement) will be concluded with the potential Buyer upon fulfilment of the conditions set out in the preliminary agreement, but no later than 30.06.2026. Consolidated statement of financial position and cash flow statement As of 31.03.2026 the total assets of Nordic Fibreboard AS were EUR 9.7 million (31.03.2025: 8.7 million). The liabilities of the company as of 31.03.2026 were EUR 5.8 million (31.03.2025: EUR 5.3 million), of which the Group has payables of EUR 1.5 million as at 31.03.2026 (31.03.2025: EUR 1.0 million) and borrowings of EUR 3.3 million as at 31.03.2026 (31.03.2025: EUR 3.8 million). Receivables and prepayments amounted to EUR 1.0 million as at 31.03.2026 (31.03.2025: EUR 1.3 million). Inventories were EUR 1.1 million as of 31.03.2026 (31.03.2025: EUR 0.9 million). Fixed assets were EUR 7.5 million as of 31.03.2026 (EUR 6.4 million as of 31.03.2025). The Group's operating result during the 3 month of 2026 was negative cash flow of EUR 13 thousand (negative cash flow of EUR528 thousand in the 3 month of 2025). Cash outflows due to investment activities was EUR 169 thousand during 2026 3 months, mainly consisting of investments into production assets (2025 3 months: cash inflow EUR 471 thousand, which comprised investments in production assets in the amount of EUR 64 thousand and in investment property in the amount of EUR 4 thousand, while EUR 539 thousand was received from the sale of financial assets (TPD shares)). Financing activities resulted in cash inflows of EUR 152 thousand during 3 months of 2026 (3 months of 2025: cash inflow of EUR 84 thousand). Net cash flow during 3 months of 2026 was cash outflow of EUR 4 thousand, (3 months of 2025: cash inflow EUR 27 thousand). Employees On the 31st of March 2026, the Group employed 57 people (31.03.2025: 69 people). The average number of personnel was 59 people in Q1 2026 (69 people in Q1 2025). Labour costs were EUR 0.41 million including taxes in Q1 2026 (Q1 2025: EUR 0.47 million). Group remuneration to the members of the management boards of holding company and its subsidiaries, together with taxes, were EUR 27 thousand in Q1 2026 (Q1 2025: EUR 66 thousand). The Group`s definition of labour costs includes payroll expenses (incl. holiday pay) with additional remuneration fees, payroll taxes, special benefits and taxes calculated on special benefits. Outlook Fibreboard production and sales Nordic Fibreboard Ltd OÜ expects demand for fibreboard to remain stable in the coming months and anticipates that sales volumes will hold at their current level. The company continues to focus on developing existing clients and markets, as well as creating new sales opportunities, with the aim of supporting sales volume growth. Greater emphasis is being placed on growing the Nordic market, including through the recruitment of additional personnel. In recent months, increased focus has also been placed on product development for interior finishing panels and on expanding sales opportunities for this product group across various markets. The Group has carried out an investment in modern energy solutions, aimed at improving the reliability and energy efficiency of production processes. As part of the project, the boiler system used for steam production was upgraded, with completion taking place in January 2026. Real estate management The property management segment covers the management of the property located at Suur-Jõe 48 in Pärnu, as well as the planning and implementation of development activities (Admiral Quarter). The design works for the Admirali Quarter development project have been completed. Building permits have been issued for the internal roads and utility networks within the quarter, for apartment buildings at Admirali 1/3, Admirali 5/7, and Admirali 9/11, as well as for the reconstruction of the existing office building at Suur-Jõe 48. 08.01.2026 Nordic Fibreboard AS entered into a preliminary sale-purchase agreement for the sale of ten properties located on Suur-Jõe Street and Admirali Street in Pärnu. The properties are currently owned by Nordic Fibreboard AS, and the final sale-purchase agreement (notarial real rights agreement) will be concluded with the potential Buyer upon fulfilment of the conditions set out in the preliminary agreement, but no later than 30.06.2026. Financial highlights +--------------------------------------- | EUR thousand +------------------+---------+---------+ | Income statement | Q1 2026 | Q1 2025 | +------------------+---------+---------+ | Revenue | 1,861 | 1,735 | +------------------+---------+---------+ | EBITDA | (395) | (85) | +------------------+---------+---------+ | EBITDA margin | (21%) | (5%) | +------------------+---------+---------+ | Operating profit | (530) | (217) | +------------------+---------+---------+ | Operating margin | (28%) | (13%) | +------------------+---------+---------+ | Net profit/-loss | (570) | (228) | +------------------+---------+---------+ | Net margin | (31%) | (13%) | +------------------+---------+---------+ +---------------------------------+------------+------------+ | Statement of financial position | 31.03.2026 | 31.12.2025 | +---------------------------------+------------+------------+ | Total assets | 9,694 | 9,323 | +---------------------------------+------------+------------+ | Return on assets | (6%) | (12%) | +---------------------------------+------------+------------+ | Equity | 3,892 | 4,462 | +---------------------------------+------------+------------+ | Return on equity | (15%) | (26%) | +---------------------------------+------------+------------+ | Debt-to-equity-ratio | 60% | 52% | +---------------------------------+------------+------------+ +---------------------------------+------------+------------+ | Share | 31.03.2026 | 31.12.2025 | +---------------------------------+------------+------------+ | Last price (EUR)* | 0.70 | 0.77 | +---------------------------------+------------+------------+ | Earnings per share (EUR) | (0.18) | (0.14) | +---------------------------------+------------+------------+ | Price-earnings ratio | (3.98) | (5.67) | +---------------------------------+------------+------------+ | Book value of a share (EUR) | 0.46 | 0.53 | +---------------------------------+------------+------------+ | Market to book ratio | 1.53 | 1.47 | +---------------------------------+------------+------------+ | Market capitalization, (tuh EUR) | 5,949 | 6,544 | +---------------------------------+------------+------------+ | Number of shares (piece) | 8,499,061 | 8,499,061 | +---------------------------------+------------+------------+ CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONS +----------------------------------+----------+----------+----------+----------+ |EUR thousand |31.03.2026|31.12.2025|31.03.2025|31.12.2024| +----------------------------------+----------+----------+----------+----------+ |Cash and cash equivalents | 1| 5| 80| 53| +----------------------------------+----------+----------+----------+----------+ |Receivables and prepayments (Note | | | | | |2) | 1,028| 790| 1,256| 571| +----------------------------------+----------+----------+----------+----------+ |Inventories (Note 3) | 1,136| 1,034| 945| 624| +----------------------------------+----------+----------+----------+----------+ |Total current assets | 2,164| 1,829| 2,281| 1,248| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Investment property (Note 4) | 2,541| 2,541| 2,384| 2,380| +----------------------------------+----------+----------+----------+----------+ |Financial assets at fair value | | | | | |through profit or loss (Note 7) | 0| 0| 0| 499| +----------------------------------+----------+----------+----------+----------+ |Property, plant, equipment and | | | | | |right-of use assets (Note 5) | 4,988| 4,952| 4,055| 4,122| +----------------------------------+----------+----------+----------+----------+ |Intangible assets (Note 6) | 1| 1| 2| 3| +----------------------------------+----------+----------+----------+----------+ |Total non-current assets | 7,530| 7,494| 6,441| 7,004| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |TOTAL ASSETS | 9,694| 9,323| 8,722| 8,252| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Borrowings (Note 8) | 2,511| 2,963| 855| 1,111| +----------------------------------+----------+----------+----------+----------+ |Payables and prepayments (Note 9) | 2,348| 1,553| 1,379| 788| +----------------------------------+----------+----------+----------+----------+ |Short-term provisions (Note 10) | 18| 24| 16| 21| +----------------------------------+----------+----------+----------+----------+ |Total current liabilities | 4,877| 4,540| 2,250| 1,920| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Long-term borrowings (Note 8) | 809| 205| 2,953| 2,613| +----------------------------------+----------+----------+----------+----------+ |Long-term provisions (Note 10) | 72| 72| 94| 94| +----------------------------------+----------+----------+----------+----------+ |Other long-term liabilities | 44| 44| 37| 9| +----------------------------------+----------+----------+----------+----------+ |Total non-current liabilities | 925| 321| 3,084| 2,716| +----------------------------------+----------+----------+----------+----------+ |Total liabilities | 5,802| 4,861| 5,334| 4,636| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |Share capital (at nominal value) | | | | | |(Note 11) | 850| 850| 450| 450| +----------------------------------+----------+----------+----------+----------+ |Share premium | 1,600| 1,600| 0| 0| +----------------------------------+----------+----------+----------+----------+ |Statutory reserve capital | 45| 45| 45| 45| +----------------------------------+----------+----------+----------+----------+ |Retained earnings (loss) | 1,397| 1,967| 2,893| 3,121| +----------------------------------+----------+----------+----------+----------+ |Total equity | 3,892| 4,462| 3,388| 3,616| +----------------------------------+----------+----------+----------+----------+ | | | | | | +----------------------------------+----------+----------+----------+----------+ |TOTAL LIABILITIES AND EQUITY | 9,694 9,323| 8,722| 8,252| +----------------------------------+---------------------+----------+----------+ CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME +--------------------------------------+---------+---------+ | EUR thousand | Q1 2026 | Q1 2025 | +--------------------------------------+---------+---------+ | Revenue (Note 13) | 1,861 | 1,735 | +--------------------------------------+---------+---------+ | Cost of goods sold (Note 14) | 1,966 | 1,608 | +--------------------------------------+---------+---------+ | Gross profit (loss) | (105) | 127 | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | Distribution costs (Note 15) | 261 | 228 | +--------------------------------------+---------+---------+ | Administrative expenses (Note 16) | 154 | 111 | +--------------------------------------+---------+---------+ | Other operating income (Note 18) | 8 | 0 | +--------------------------------------+---------+---------+ | Other operating expenses (Note 18) | 18 | 5 | +--------------------------------------+---------+---------+ | Operating loss | (530) | (217) | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | Finance income (Note 19) | 0 | 40 | +--------------------------------------+---------+---------+ | Finance costs (Note 19) | 41 | 51 | +--------------------------------------+---------+---------+ | LOSS BEFORE INCOME TAX | (570) | (228) | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | NET LOSS FOR THE PERIOD | (570) | (228) | +--------------------------------------+---------+---------+ | | | | +--------------------------------------+---------+---------+ | Basic earnings per share (Note 12) | (0.07) | (0.05) | +--------------------------------------+---------+---------+ | Diluted earnings per share (Note 12) | (0.07) | (0.05) | +--------------------------------------+---------+---------+ CONSOLIDATED STATEMENT OF CASH FLOWS +--------------------------------------------------------------+-------+-------+ |EUR thousand |Q1 2026|Q1 2025| +--------------------------------------------------------------+-------+-------+ |Cash flow from operating activities | | | +--------------------------------------------------------------+-------+-------+ |Operating profit (-loss) | (530)| (217)| +--------------------------------------------------------------+-------+-------+ |Adjustments: | | | +--------------------------------------------------------------+-------+-------+ |Depreciation charge (Note 5; 6) | 135| 132| +--------------------------------------------------------------+-------+-------+ |Change in trade and other receivables (Note 2) | (238)| (685)| +--------------------------------------------------------------+-------+-------+ |Change in inventories (Note 3) | (102)| (321)| +--------------------------------------------------------------+-------+-------+ |Change in trade and other payables (Note 9) | 795| 619| +--------------------------------------------------------------+-------+-------+ | Change in provisions | (6)| (5)| +--------------------------------------------------------------+-------+-------+ |Cash generated from operations | 54| (477)| +--------------------------------------------------------------+-------+-------+ |Interest payments (Note 8; 19) | (36)| (45)| +--------------------------------------------------------------+-------+-------+ |Net other financial income and expense | (5)| (6)| +--------------------------------------------------------------+-------+-------+ |Net cash generated from operating activities | 13| (528)| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from investing activities | | | +--------------------------------------------------------------+-------+-------+ |Purchase of property, plant and equipment and intangible | | | |assets (Note 5; 6) | (169)| (64)| +--------------------------------------------------------------+-------+-------+ |Purchase of real estate investment (Note 4) | 0| (4)| +--------------------------------------------------------------+-------+-------+ |Sales of financial assets (Note 7) | 0| 539| +--------------------------------------------------------------+-------+-------+ |Net cash used in investing activities | (169)| 471| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |Cash flow from financing activities | | | +--------------------------------------------------------------+-------+-------+ |Repayment of loans received (Note 8) | (62)| (55)| +--------------------------------------------------------------+-------+-------+ |Loans received from related parties (Note 8) | 343| 140| +--------------------------------------------------------------+-------+-------+ |Finance lease payments (Note 8) | (6)| (6)| +--------------------------------------------------------------+-------+-------+ |Change in overdraft (Note 8) | (123)| 5| +--------------------------------------------------------------+-------+-------+ |Net cash (used in)/from financing activities | 152| 84| +--------------------------------------------------------------+-------+-------+ | | | | +--------------------------------------------------------------+-------+-------+ |NET CHANGE IN CASH | (4)| 27| +--------------------------------------------------------------+-------+-------+ |OPENING BALANCE OF CASH | 5| 53| +--------------------------------------------------------------+-------+-------+ |CLOSING BALANCE OF CASH | 1| 80| +--------------------------------------------------------------+-------+-------+