Koskisen's revenue increased and the profitability of the Panel Industry segment improved compared to the reference period

Koskisen’s revenue increased and the profitability of the Panel Industry segment improved compared to the reference period

This release is a summary of Koskisen Corporation’s January–December 2025 Financial Statements Release. The complete Financial Statements Release is attached, and also available on the company’s website at koskisen.com/investors.

October–December 2025 in brief

· Revenue increased and amounted to EUR 95.1 (73.0) million.
· EBITDA improved and amounted to EUR 6.0 (5.6) million.
· The EBITDA margin was 6.3 per cent (7.7).
· Adjusted EBITDA amounted to EUR 6.2 (5.7) million.
· The adjusted EBITDA margin was 6.5 per cent (7.8).
· Operating profit amounted to EUR 2.1 (2.5) million and was 2.2 per cent (3.5) of revenue.
· The profit for the financial period amounted to EUR 1.0 (1.5) million.
· Basic earnings per share were EUR 0.04 (0.07).

January–December 2025 in brief

· Revenue increased and amounted to EUR 354.9 (282.3) million.
· EBITDA improved and amounted to EUR 28.8 (24.2) million.
· The EBITDA margin was 8.1 per cent (8.6).
· Adjusted EBITDA amounted to EUR 28.9 (24.3) million.
· The adjusted EBITDA margin was 8.1 per cent (8.6).
· Operating profit amounted to EUR 14.3 (13.0) million, representing 4.0 per cent (4.6) of revenue.
· The profit for the financial period amounted to EUR 8.6 (8.3) million.
· Basic earnings per share were EUR 0.37 (0.36).

The figures in brackets refer to the comparison period, i.e. the corresponding period in the previous year, unless specified otherwise. The business operations of Iisveden Metsä are included in the figures in this Financial Statements Release starting from 1 June 2025.

Dividend proposal

The Board of Directors proposes to the Annual General Meeting to be held in spring 2026 that a dividend of EUR 0.14 per share be paid.

Profit guidance for 2026
Koskisen Group’s revenue for 2026 is expected to increase from the level of 2025. The adjusted EBITDA margin is expected to be 8–12 per cent.

Key figures

 CEO Jukka Pahta:

Growth continued in line with Koskisen Group's strategy: in the fourth quarter, revenue increased for the seventh consecutive quarter and amounted to EUR 95.1 (73.0) million. Revenue for the full year reached an all-time high of EUR 354.9 (282.3) million. The impact of organic growth was approximately 16 percent. Adjusted EBITDA improved in the fourth quarter to EUR 6.2 (5.7) million. However, relative profitability declined and the adjusted EBITDA margin was 6.5 per cent (7.8). Profitability remained at a good level considering the circumstances.

Trade policy, security policy and geopolitical issues, and the links between them, were significant factors in the operating environment. In particular, the erratic nature of US policy increased uncertainty with regard to international trade and the predictability of the operating environment. China’s weak domestic demand and strong export growth intensified competition in markets that are important to Europe. Russia’s continued war of aggression in Ukraine again weakened the outlook in Europe. The prolonged uncertainty had a negative impact on business confidence as well as consumer confidence, which slowed the recovery of investment and consumer demand and kept demand weak in the construction sector, among other industries.

For the Sawn Timber Industry segment, the year 2025 was a period of strong growth. The effect of the Iisveden Metsä business is reflected in the figures, but the segment also achieved significant organic growth, supported by increased volumes at the Järvelä sawmill. The Sawn Timber Industry segment has grown quickly, with production capacity rising by approximately 70 per cent since 2022. Profitability also improved significantly.

The profitability of the Sawn Timber Industry segment decreased in the fourth quarter, with EBITDA amounting to EUR 2.0 (3.3) million. The decline in profitability was due to higher prices of wood raw material, seasonally decreasing sawn timber prices toward the end of the year, as well as lower volumes of forest energy and lower prices of forest energy and pulpwood. The demand for sawn timber softened slightly towards the end of the year and, at the same time, there were challenges in the availability of transport, which was reflected in a slight increase in stocks of finished products. However, the order backlog was at a good level at the end of the year.

Briquette production at the Järvelä sawmill reached was ramped up to full scale. In the briquette production line, shavings generated as a by-product of sawn timber processing are pressed into briquettes. The district heating connection pipe between the production plants located in Järvelä was taken into trial operation in December. It enables an increase in sawn timber drying capacity, which is currently under way. The additional drying capacity will be deployed in summer 2026.

The sourcing of wood raw material went according to plan and the availability of raw material was sufficient in spite of the wood market slowing down towards the end of the year and the mild weather making harvesting and transport more difficult. The purchase prices of softwood logs and birch logs decreased slightly, but remained at a high level considering the market conditions. The demand for by-products and energy fractions was weakened by the mild weather in the latter part of the year and the lower-than-usual production levels in the chemical forest industry.

The profitability of the Panel Industry segment improved in the fourth quarter, with EBITDA amounting to EUR 4.3 (2.5) million. The improved profitability was mainly due to the increased delivery volumes of birch plywood. The demand for chipboard remained modest due to the weak cyclical conditions in construction, and production had to be scaled back at times.

The first phase of the Panel Industry segment's investment programme, which will run from 2025 to 2027, was completed at the end of December 2025. All of the investments planned for 2025 were successfully deployed. The benefits of the investments will gradually begin to materialise as the remaining production bottlenecks are resolved by future investments and efficiency improvement measures. The second phase of the investment programme began in early 2026. In the second phase, the investments are focused on developing the further processing of veneer and thereby improving quality and productivity. The total value of the investments in the second phase is approximately EUR 7 million.

The implementation of the growth strategy will continue in 2026, while simultaneously improving profitability. During the review period, the company renewed its financing, which plays an important role with regard to the growth of working capital, which is associated with the company's growth, and also from the perspective of investments. The new long-term financing was agreed upon on more favourable terms than previously.

Webcast

A webcast (in Finnish) in relation to January-December 2025 Financial Statements Release will be held today on 13 February 2026 at 10:00 a.m. EET. The webcast can be followed at koskisen.com/videos. The presentation material and a recording of the webcast will be available on the company’s website afterwards.

For further information, please contact:
Jukka Pahta, CEO, Koskisen Corporation
jukka.pahta@koskisen.com
puh. +358 20 553 4561

Media enquires:
Sanna Väisänen, Director, Sustainability and Communications, Koskisen Corporation
sanna.vaisanen@koskisen.com
puh. +358 20 553 4563

Koskisen is an international wood processing specialist and known for its agility and ability to listen to the customer. We utilise our valuable wood raw material as thoroughly as possible, up to the last particle of sawdust. We manufacture high-quality and sustainable circular bioeconomy products that store carbon for decades. The Group’s revenue in 2025 was EUR 355 million. Read more: koskisen.com