Here is Thomas’s pre-report on Tulikivi with negative tones.
Tulikivi will publish its Q4 report on Friday, March 6, 2026. Following yesterday’s profit warning, expectations for the final quarter of the year have decreased significantly, and 2025 was a disappointment compared to the original guidance. In our view, the stock’s current valuation is difficult to justify until we see clear signs of a recovery in earnings performance. We reiterate our Sell recommendation and target price of EUR 0.38.