Russia

•Key region for export outlays.•Focus of operations is on setting up

a distribution channel.•Focus areas: St Petersburg, Moscow,

other cities with over a million inhabitants.

•Target groups:•Construction firms •Log house manufacturers •Wealthy builders of single-family

houses and their architects

FinlandGermanySwedenFranceBelgiumDenmarkUSA

SwitzerlandAustriaRussiaEstonia

Revenue by Country 2005

•Sales development of one third.

•Tulikivi holds a strong position in this small market.

•Operations expanded to all the Baltic countries.

FinlandGermanySwedenFranceBelgiumDenmarkUSA

SwitzerlandAustriaRussiaEstoniaItalia

Revenue by Country 2005

•Sales growth of one tenth.

•Long-term work by the importer.

•Focus on Northern Italy.

FinlandGermanySwedenFranceBelgiumDenmarkUSA

SwitzerlandAustriaRussiaEstoniaItalyOther

Revenue by Country 2005

Other countries:

The Netherlands, Ukraine, Latvia, Lithuania, Norway, Luxembourg, Hungary

Lining Stones

• Soapstone is a very popular material for lining stoves in Central Europe and Scandinavia.

• High peak in demand, Tulikivi’s key objective is profitability.

• Tulikivi’s market share is over 50%.• Represents a significant share of

business operations.• Profitability matches the fireplace

business average.• Tulikivi’s strengths are quality, reliable

deliveries, exacting workmanship and service.

• The customers are Europe’s number one manufacturers, such as Nibe of Sweden and Hark of Germany.

• The foundation of Tulikivi’s operations.

• The company possesses stone reserves to last for about 65 years in

• Juuka

• Suomussalmi

• Kuhmo

• Paltamo

• License to utilize soapstone in the Medvezhyegorsk area of the Republic of Karelia until 2030.

Soapstone Reserves

Soapstone Deposit in the Republic of Karelia

• Tulikivi Corporation will build a new production plant in Juuka in 2006.

• Tulikivi fireplace production capacity will rise by about 20%.

• Enables revenue growth of close to EUR 10 million in the next few years.

• Investment: about EUR 5 million.

• Dozens of new jobs in Juuka in the next few years.

Factory Investment 2006

• The investment is a measure that supports Tulikivi’s growth strategy.

• Need for capacity will rise in the near future.

• More precise use of raw materials, reserves of leftover stone.

• Improving profitability and competitiveness.

• Manufacture of new collection.

Production Investment 2006, Reasons