Tornator (TORNATOR) H2 2025 earnings summary

Executive summary

• Revenue grew 9% year-over-year to EUR 232.2 million, driven by strong timber prices and well-executed sales batches.

• Adjusted operating profit reached a record EUR 168.4 million, and operational net profit was EUR 114.4 million.

• Forest assets exceeded 800,000 hectares after acquiring over 35,000 hectares in Finland.

• Strategic partnership with Stora Enso deepened, ensuring stable timber sales and cash flow.

• Climate and biodiversity initiatives advanced, including new conservation areas and water protection projects.

Financial highlights

• Group revenue: EUR 232.2 million (+9.0% year-over-year).

• Operating profit at fair value: EUR 298.4 million (EUR 189.9 million in 2024).

• Net profit: EUR 217.2 million (EUR 132.5 million in 2024).

• Equity ratio: 58.4% (59.8% in 2024).

• Dividend of EUR 14.0 per share (EUR 70 million total) distributed.

Outlook and guidance

• Debt-servicing ability and earnings expected to remain stable.

• Timber demand and harvesting volumes may face temporary pressure if global tensions escalate.

• Long-term vision targets one million hectares of forest and revenue over EUR 400 million by 2035.