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Tulikivi

0.53 EUR+0.38 %14.8. klo 18.29
4,213 following

TULAV

NASDAQ Helsinki

Home Products

Consumer Goods & Services

Overview
Financials & Estimates
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Dividend
Investor consensus
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+0.38 %
-0.37 %
-6.67 %
+2.31 %
+7.91 %
+15.15 %
+8.46 %
-12.79 %
+31.80 %

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

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Market cap
31.85M EUR
Turnover
6.11K EUR
P/E (adj.) (26e)
EV/EBIT (adj.) (26e)
P/B (26e)
EV/S (26e)
Dividend yield-% (26e)
Coverage
Recommendation
Sell
Target price
Updated
11.05.2026
Disclaimer
Revenue and EBIT-%
EPS and dividend
Financial calendar
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Forum discussions
The earnings were dismal, but the stock just won’t go down! I suspect many owners are just holding and looking past the launch of that sauna category in the US and the potential of the talc mine.
11 hours ago
by PaulKo
4
The stock really is in a psychological stalemate like the Suomussalmi talc project. The company provides just enough information once a quarter to keep the story alive. First, it was years of feasibility studies, and now it has been years of foot-dragging over environmental permits...
3 hours ago
by TitoK
3
It is bulk sales of slowly renewable or non-renewable raw materials. It is not innovative value creation, which the company has not been able to achieve effectively. By the way, where is the internet’s Tulikivi spammer?
5/11/2026, 7:57 AM
by Totuuden ääni
3
Here is Tulikivi’s 2020s post-COVID era well-summarized: “In our view, the stock’s valuation looks challenging due to the pressured earnings performance, leaving significant expectations reliant on the speculative realization of the talc project’s value” In plain English and layman...
5/11/2026, 7:32 AM
by Totuuden ääni
3
Here is a company report from Thomas following Tulikivi’s Q1 report Tulikivi’s revenue exceeded our expectations, driven by export revenue turning back to growth. Despite the recovery in exports, the order intake contracted from the previous year, leaving work to be done to reach...
5/11/2026, 6:02 AM
by Sijoittaja-alokas
3
Here are Thomas’s preview comments ahead of Tulikivi’s Q2 results on Friday We expect the company’s revenue and profit to have increased from the level of the weak comparison period, even though the order backlog was at a low level at the beginning of the quarter. Given Tulikivi’...
8/11/2026, 7:50 AM
by Sijoittaja-alokas
2
Thomas has written an interesting and comprehensive article about the Finnish fireplace market I wrote in September 2023 about the strong demand for fireplace manufacturers and the resulting recovery in the profitability levels of domestic players. Weakened consumer purchasing power...
8/5/2026, 7:10 AM
by Sijoittaja-alokas
2
Read more on our forum
Thomas Westerholm
Thomas Westerholm

Analyst

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
6.11.
2026

Interim report Q3'26

Regulatory press release14.08.2026 klo 13.00

Tulikivi Corporation Half Year Financial Report 1–6/2026: Strategic projects progressed despite uncertainty in the fireplace market

Tulikivi
Regulatory press release08.05.2026 klo 13.00

Tulikivi Corporation Interim Report 1-3/2026: Strategic projects making good progress and laying the foundations for future growth

Tulikivi
Regulatory press release22.04.2026 klo 17.00

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION

Tulikivi

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Regulatory press release27.03.2026 klo 13.00

Tulikivi Corporation’s annual report for 2025 has been published

Tulikivi
Regulatory press release25.03.2026 klo 13.00

NOTICE TO THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION 2026

Tulikivi
Regulatory press release06.03.2026 klo 13.00

Tulikivi Corporation Financial statements release 1–12/2025: Investments in strategic projects continued despite challenging market conditions.

Tulikivi
Regulatory press release23.02.2026 klo 22.30

Tulikivi lowers its earnings guidance for 2025: Net sales are estimated to be approximately EUR 29.5 million and the comparable operating profit is estimated to be around EUR -0.1 million.

Tulikivi
Regulatory press release27.11.2025 klo 13.00

Tulikivi Corporation financial reporting in 2026

Tulikivi
Regulatory press release07.11.2025 klo 13.00

Tulikivi Corporation Interim report 1–9/2025: Despite the challenging market, investments continued in strategic projects.

Tulikivi
Regulatory press release17.09.2025 klo 16.00

Tulikivi Corporation: Decision of the Board on capital repayment

Tulikivi
Regulatory press release17.09.2025 klo 16.00

Tulikivi is revising downward and focusing its guidance for 2025: Net sales are expected to be EUR 29 to 33 million and comparable operating profit is expected to be EUR 1 to 2 million

Tulikivi
Regulatory press release15.08.2025 klo 13.00

Tulikivi Corporation half year financial report 1–6/2025: Order intake continued to grow

Tulikivi
What to look for in a Consumer Goods Company? | Consumer Goods Night June 9, 202513:20
Video16.06.2025 klo 14.30

What to look for in a Consumer Goods Company? | Consumer Goods Night June 9, 2025

The operating environment has been challenging for Consumer Goods Companies.

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Regulatory press release16.06.2025 klo 09.30

Tulikivi Corporation - Managers' Transactions: Jaakko Aspara

Tulikivi
Regulatory press release23.05.2025 klo 18.00

Tulikivi Corporation - Managers' Transactions: Jaakko Aspara

Tulikivi
Regulatory press release09.05.2025 klo 13.00

Tulikivi Corporation Interim report 1–3/2025: Difficult operating environment, increasing order flow

Tulikivi
Press release09.05.2025 klo 10.30

Environmental permit application for the Suomussalmi talc project submitted to the Regional State Administrative Agency of Northern Finland

Tulikivi
Regulatory press release24.04.2025 klo 14.00

RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION

Tulikivi
Regulatory press release28.03.2025 klo 13.00

Tulikivi Corporation’s annual report for 2024 has been published

Tulikivi
Regulatory press release27.03.2025 klo 13.00

NOTICE TO THE ANNUAL GENERAL MEETING OF TULIKIVI CORPORATION 2025

Tulikivi