Koskisen Oyj · OMXHEX:KOSKI
Koskisen Oyj — Q1 2025 Earnings Presentation
19 slides from Koskisen Oyj's earnings presentation, May 9, 2025
Slide 1: Koskisen's profitability improved – sawmill production at a record-high level
Koskisen’s profitability improved – sawmill production at a record- high level Koskisen Corporation Interim Report January-March 2025 CEO Jukka Pahta 9 May 2025
Slide 2: Agenda
Agenda ⚫ Financial and operational development ⚫ Raw material sourcing ⚫ Growth strategy proceeding according to plan ⚫ Questions can be asked through the question function of the webcast. Questions will be answered after the presentation. 9 May 2025 2
Slide 3: Financial and operational development
Financial and operational development
Slide 4: Financial development
Financial development Revenue, EUR million Adjusted EBITDA, EUR million Oikaistu Adjusted käyttökate, EBITDA, %% 282,3 86,3 24,3 63,7 9,5 8,7 11,0 8,6 5,5 Q1 2024 Q1 2025 2024 Q1 2024 Q1 2025 2024 Q1 2024 Q1 2025 2024 +35.4 % +71.6 % 9 May 2025 4
Slide 5: Strong financial position
Strong financial position January-March 2024 EUR million 1-3 1-3 Change % 1-12 Unless otherwise stated 2025 2024 2024 Revenue 86.3 63.7 35.4 282.3 EBITDA 9.4 5.5 69.8 24.2 Adjusted EBITDA 9.5 5.5 71.6 24.3 Operating profit (EBIT) 6.2 3.1 99.2 13.0 Profit for the period 4.2 2.3 85.4 8.3 Ba
Slide 6: Record quarter in sawmill production
Sawn Timber Industry Q1 2025 Record quarter in sawmill production Revenue, EUR million ⚫ Revenue increased due to sawn timber prices increasing slightly year-on-year and delivery volumes 139,7 increasing significantly. The increase in revenue from the comparison period is also 48,7 29,0 partly attri
Slide 7: The new sawmill improves EBITDA – nearly two-thirds of the EUR 8 million target achieved
The new sawmill improves EBITDA – nearly two-thirds of the EUR 8 million target has Total benefit already been achieved EUR 7.8 million, realization 65% ⚫ The utilization rate and sales volumes of the new sawmill have been fully 100% 90% achieved 80% ⚫ The new log yard has reduced 70% transportation
Slide 8: Iisveden Metsä's transaction is expected to be completed during the first half of 2025
Iisveden Metsä’s transaction is expected to be completed during the first half of 2025 as planned ⚫ Koskisen agreed to acquire the business operations of Iisveden Metsä Oy in March The Annual General Meeting of Iisveden Metsä approved the transaction in the end of March The competition authorities i
Slide 9: Acquisition of Iisveden Metsä's business operations supports organic and inorganic growth
Aquisition of Iisveden Metsä’s business operations supports organic and inorganic growth ⚫ The transaction will support the strategic target to increase the Group’s revenue to EUR 500 million by the end of 2027 through organic and inorganic growth 1. By directly increasing the revenue of Sawn Timber
Slide 10: Business acquisition brings significant synergy benefits
Business acquisition brings significant synergy benefits Customers and market Added value and efficiency Expansion of wood procurement ⚫ Optimally complements ⚫ The consolidation of sawmill ⚫ Efficient wood procurement Koskisen's customer base and operations enables the creation for sawmill operatio
Slide 11: High raw material costs and the increase in overall production costs weakened profitability
Panel Industry Q1 2025 High raw material costs and the increase in overall production costs weakened profitability Revenue, EUR million ⚫ Revenue increased year-on-year due to the increased delivery volumes of the Kore business and birch plywood 142,4 ⚫ The decline in EBITDA was attributable to incr
Slide 12: Growth investments in the panel industry progressed as planned
Growth investments in the panel industry progressed as planned ⚫ The ramp-up of the new production plant for the Kore business in Skwierzyna, Poland, was completed as planned To establish production and the operating model and thereby optimise the cost level and profitability will continue ⚫ The inv
Slide 13: Wood raw material procurement
Wood raw material procurement
Slide 14: Wood raw material procurement
Wood raw material procurement ⚫ Wood raw material procurement proceeded as planned during Q1 ⚫ Raw material purchase prices remained at a high level ⚫ Raw material purchase volumes were higher than during the comparison period ⚫ Wood raw material reserves and stocks were at a higher level at the end
Slide 15: Growth strategy progressing as planned
Growth strategy progressing as planned
Slide 16: Synergistic operations as a source of value
Synergistic operations as a source of value Koskisen’s operations are highly synergistic. Scaling up the Sawn Timber Industry segment's operations increases Wood Procurement and, as a side stream, produces raw materials for the Panel Industry segment. Growth in the supply of wood improves the Panel
Slide 17: Steps on the growth path
Steps on the growth path The new sawmill 1. Value for the 2. Development of current 3. Bold steps and other related customer operations development 2024 investments 2025 2026 2027 Investments Ongoing investments to increase the production and productivity of the new sawmill in Järvelä The acquisitio
Slide 18: Objectives
Objectives Target 2027 Realised 2024 Growth Revenue of EUR 500 million, including both Revenue EUR 282.3 million organic and inorganic growth Profitability Adjusted EBITDA margin averaging Adjusted EBITDA 15% over the cycle EUR 24.2 million, 8,6% Balance sheet Maintaining a strong balance sheet Equi
Slide 19: Kiitos.
Kiitos.