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Managing Director’s review

Managing Director’s review. 60. 50. 40. 30. 20. 10. 0. 1980. 1981. 1982. 1983. 1984. 1985. 1986. 1987. 1988. 1989. 1990. 1991. 1992. 1993. 1994. 1995. 1996. 1997. 1998. 1999. 2000. 2001. 2002. 2003. 2004. 2005. Revenue. Finland. Exports. Revenue by Country 2005.

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Managing Director’s review

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  1. Managing Director’s review

  2. 60 50 40 30 20 10 0 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 Revenue Finland Exports

  3. Revenue by Country 2005 Finland • Revenue in Finland: EUR 27.9 million; development about 1%. • 47.6% of the Group’s revenue. • Revenue from exports: EUR 30.7 million; development about 10%. • 52.4% of revenue.

  4. Finland, Fireplaces • The Finnish fireplace market grows by 3-5% annually. • Tulikivi’s growth falls short of market development. • Profitability is the key objective. • Close to 2 million fireplaces in Finland. • Fireplace market: over 50,000, of which 55% represent fireplaces installed during renovation works. • Soapstone 25%, Brick 40%, Tile 15%, Metal 15%, Other natural stone 5%. • Tulikivi’s market share: about 17%. • Brisk construction of single-family houses and renovation continues.

  5. Natural Stones • Sales EUR 6.4 million (6.3). • Operating profit EUR 0.2 million (0.2). • Growth of one third from interior decoration stones, which now account for about 60% of revenue. • Tulikivi is the market leader in interior decoration stones in Finland. • Total market for interior decoration stones in Finland is over EUR 15 million, market growing by >15 per cent annually. • Further outlays will be made on interior decoration stones and consumer customers in the future. • In addition, deliveries of stones to construction sites. • Contracting phased out.

  6. Revenue by Country 2005 Finland Germany • Swung to growth of over 5%. • Three-year negative trend ended

  7. Germany • Tulikivi’s distribution channel changeover 2005 • Stage 1: single step; succeeded according to plan. • Stage 2: stepping up the dealer network substantially; started up successfully. • Dealers 25  40  >60 • Order flow grew by 20 % • Although the consumer segment is still subdued, the high price of energy supports fireplace sales. • Distribution through hardware stores has become more important and the share accounted for by lower-cost products has increased. • Manufacturers selling directly to speciality stores. • Soapstone is a very popular fireplace material.

  8. Revenue by Country 2005 Finland Germany Sweden • No growth in fireplace sales. • Distribution channel overhaul 2006. • One of the largest customers for lining stones is the Swedish company Nibe.

  9. Revenue by Country 2005 Finland Germany Sweden France • Development of fireplace sales over 150%, market development about 30%. • Distribution is in good shape. • The State’s tax subsidy – which started in 2005 – will continue in 2006.

  10. Revenue by Country 2005 Finland Germany Sweden France Belgium • Development of fireplace sales about 20%. • Belgium is a ”stove country”. • Long-term work by the importer has generated continuous growth.

  11. Revenue by Country 2005 Finland Germany Sweden France Belgium Denmark • Lining stones are sold to Denmark. • Four major customers.

  12. Revenue by Country 2005 Finland Germany Sweden France Belgium Denmark USA • Sales development about 10%. • Includes USA & Canada. • Steady and profitable growth with reliable partners. • High average price of products.

  13. Revenue by Country 2005 Finland Germany Sweden France Belgium Denmark USA Switzerland • Fireplaces with small sales development. • Long-term importer (about 20 years), with which a distribution development project has been started up. • Strong traditions in heat-retaining fireplaces.

  14. Revenue by Country 2005 Finland Germany Sweden France Belgium Denmark USA Switzerland Austria • Sales development of one third. • Long-term work by the importer. • Strong traditions in heat-retaining fireplaces.

  15. Revenue by Country 2005 Finland Germany Sweden France Belgium Denmark USA Switzerland Austria • Sales doubled in Russia and the CIS countries (Ukraine). Russia

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