Tulikivi Oyj - Company Announcement

Tulikivi Corporation lowers its full-year net sales and operating result forecast

TULIKIVI  CORPORATION                        STOCK EXCHANGE RELEASE

                                                                   23 September
2014, at 12.45 





Tulikivi Corporation lowers its full-year net sales and operating result
forecast 



As a consequence of the weak market conditions, Tulikivi Corporation's sales
have not performed as well as expected. Net sales for 2014 are expected to
total approximately EUR 40 million (EUR 43.7 million in 2013). The company
expects to post an operating loss of about one million euros (EUR -4.3 million
in 2013). 

The demand for Tulikivi products is very much linked to changes in consumer
confidence and in the construction sector. The performance improvement
programme that started in 2013 includes production and sales efficiency
measures and cost-saving measures. The impact of these measures will be felt
during the period 2014-2015. 

Tulikivi's previously announced forecast of net sales and operating result for
2014 

The level of demand for Tulikivi products is closely linked to changes in
consumer confidence and in the construction sector. The performance improvement
programme that started in 2013 includes sales and production efficiency
measures and cost-saving measures. The results of these measures will begin to
show in 2014. Full-year net sales are expected to be at the same level as in
2013, and the operating result is expected to be positive. 



TULIKIVI CORPORATION

Board of Directors

Distribution: NASDAQ OMX Helsinki

Key media

Tulikivi.com

Additional information: Heikki Vauhkonen, Managing Director, +358 (0)207 636 555

Tulikivi comprises the Tulikivi Corporation and its subsidiaries. Tulikivi is
the world's largest manufacturer of heat-retaining fireplaces. The company has
three product groups: Fire-places, Sauna and Interior. Tulikivi and its
customers value wellbeing, interior design and the benefits of bioenergy.
Tulikivi's net sales are approximately EUR 40 million, of which exports account
for half. Tulikivi employs approximately 300 people.