Interim Report

Interim report 01-06/2010

12.8.2010

- The Tulikivi Group’s second-quarter net sales were EUR 14.7
million (EUR 13.0 million, 4-6/2009), the operating profit was EUR
0.5 (-0.7) million and the result before taxes was EUR 0.2 (-0.9)
million.
- The Group’s net sales during the report period were EUR 25.4
million (EUR 24.0 million, 1-6/2009), the operating profit was EUR
-1.3 (-3.4) million and the result before taxes was EUR -1.7 (-
3.9) million.
- Earnings per share amounted to EUR -0.04 (-0.08) in the report
period and EUR 0.00 (-0.02) in the second quarter.
- Cash flow from operating activities was EUR -2.1 (-1.4) million.
- Order books at the end of the period were at EUR 6.7 (6.5)
million.
- With the company’s recovering sales and improved cost
efficiency, the full-year net sales are expected to be up from the
previous year and the result for the year is expected to be in the
black.

Managing Director’s comments:

“With new building recovering in the second quarter, demand has
improved significantly in Finland and the neighbouring regions.
Demand for lining stone products also increased. In Central
Europe, consumers’ reluctance to make major investment decisions
is having an impact on the sales of fireplaces.

“The Group’s net sales will grow in the autumn as a result of
normal seasonal variation and the recovery in the construction
sector both in Finland and neighbouring regions, and sales will
also be boosted by new products launched during the first half of
the year. Furthermore, higher energy taxation in Finland will
motivate consumers to invest in saving energy. The company’s
centralisation and productivity improvement programme will
continue to improve profitability in the latter half of the year.”

Segment reporting

The Group’s operating segments are the Fireplaces Business and the
Natural Stone Products Business. The Fireplaces Business includes
soapstone and ceramic fireplaces sold under the Tulikivi and
Kermansavi brands and their accessories, and utility ceramics and
fireplace lining stones. The Natural Stone Products Business
includes interior decoration stone products for households and
stone deliveries to construction sites. Expenses not allocated to
a segment are included under ‘Other items’, which also includes
financial expenses and taxes. Expenses not allocated to a segment
include expenses of the Group administration and expenses
pertaining to financial administration. The segment reporting has
been adjusted by allocating to the operating segments the data and
personnel administration expenses, which were previously included
in expenses not allocated to a segment. The comparison data has
been changed accordingly.

Net sales and result

The Group’s net sales during the report period were EUR 25.4
million (EUR 24.0 million, 1-6/2009). The net sales of the
Fireplaces Business were EUR 22.5 (21.0) million and of the
Natural Stone Products Business EUR 2.9 (3.0) million.

Net sales in Finland accounted for EUR 13.3 (12.1) million, or
52.2 (50.5) per cent, of total net sales. Exports amounted to EUR
12.1 (11.9) million in net sales. The principal export countries
were France, Sweden and Germany. Export growth was held back by
the uncertainty affecting consumer decisions in the principal
markets.

The Group’s operating profit was EUR -1.3 (-3.4) million. In
accordance with the Group’s segment reporting, the operating
profit for the Fireplaces Business was EUR -0.3 (-2.4) million and
for the Natural Stone Products Business EUR -0.1 (-0.1) million.
The expenses under ‘Other items’ were EUR -0.9 (-0.9) million. The
consolidated result before taxes was EUR -1.7 (-3.9) million, and
the net result was EUR -1.3 (-3.1) million. Earnings per share
amounted to EUR -0.04 (-0.08).

The Group’s second-quarter net sales were EUR 14.7 million (EUR
13.0 million, 4-6/2009) and profit before taxes was EUR 0.2 (-0.9)
million. Earnings per share amounted to EUR 0.00 (-0.02).

The Group’s programme of profitability and centralisation measures
launched in 2009 has been completed and the objectives mainly met.

Financing and investments

Cash flow from operating activities before investments was EUR -
2.1 (-1.4) million. Working capital increased by EUR 3.0 million
in the period and came to EUR 9.4 million (EUR 8.9 million on 30
June 2009). Interest-bearing debt was EUR 26.7 (23.3) million and
consolidated net financial expenses were EUR 0.5 (0.6) million.
The equity ratio was 35.8 per cent (39.6 per cent on 30 June
2009). The ratio of interest-bearing net debt to equity, or
gearing, was 84.4 (79.3) per cent. The current ratio was 1.8
(1.6). Equity per share was EUR 0.58 (0.62).

The Group has a solid financial position. At the end of the report
period, the Group’s cash assets were EUR 8.4 (4.9) million and
unused credit limits amounted to EUR 1.0 (4.0) million.

The Group’s investments in production, quarrying and development
were EUR 1.2 (0.9) million in the report period. Research and
development costs were EUR 0.9 (0.7) million, i.e. 3.6 (2.7) per
cent of net sales. EUR 0.2 (0.2) million of this was capitalised
in the balance sheet.

Product development focused on productisation of the Tulikivi
Green products and an interior design fireplace collection and
other new products. These products will complement and expand the
uses of fireplaces in household heating. Other large development
projects include development of the Group’s processes and up-
dating of the enterprise resource planning system.

Personnel

The Group employed an average of 374 (393) people during the
report period. Salaries and bonuses during the report period
totalled EUR 7.8 (8.3) million.

The Tulikivi Group has an incentive plan that includes a share-
based incentive plan for the Managing Director and key personnel
and an incentive pay scheme for all personnel.

The share-based plan, introduced in 2008, comprises three earning
periods, which are the calendar years 2008, 2009 and 2010. The
bonus is determined on the basis of the Group’s result after
financial items and the cash flow from operating activities after
investments. A maximum total of about 360 000 Series A shares and
a cash payment corresponding to the value of the shares can be
paid as rewards on the basis of the entire share-based incentive
plan. The maximum share reward for 2010 is 218 750 A shares and a
cash payment corresponding to the value of the shares. The
Managing Director’s share of the share reward is a maximum of 50
000 shares.

The incentive pay scheme is based on the Group’s result and on the
improvement in productivity, and the Managing Director and key
personnel also have personal targets in addition to this.

Annual General Meeting

Tulikivi Corporation’s Annual General Meeting, held on 14 April
2010, resolved to pay a dividend of EUR 0.0250 on Series A shares
and EUR 0.0233 on Series K shares. The dividend payout date was 26
April 2010. The other decisions of the general meeting can be
found in the separate release published in the date of the
meeting.

Transfer of the funds of the share premium account to the reserve
for invested unrestricted equity

The decision of the Annual General Meeting taken on 14 April 2010
to transfer the funds of the share premium account to the reserve
for invested unrestricted equity has been entered in the Trade
Register and was announced on 6 May 2010. The due date for debtors
is 19 August 2010.

As decided by the Annual General Meeting, the share premium
account (part of the equity) on the company’s balance sheet as of
31 December 2009 will be reduced by EUR 7 334 116.06, by
transferring all the funds in the share premium account on the
balance sheet as of 31 December 2009 to the reserve for invested
unrestricted equity.

Treasury shares

The company did not purchase or assign any of its own shares
during the report period. At the end of the period, the total
number of Tulikivi shares held by company was 124 200 Series A
shares, which corresponds to 0.3 per cent of the company’s share
capital and 0.1 per cent of all voting rights.

Risks and uncertainties

The Group’s near-term risks are mainly associated with the
increased uncertainty among consumers and the effect of this on
consumers’ building and fireplace projects.

The risks and the means of preventing and controlling them are
presented in more detail in section 38 of the notes to the
financial statements in the 2009 Annual Report.

Future outlook

The increase in private house building in Finland will improve the
demand for Tulikivi products. Exports of lining stone products
will continue at a good level. In Central Europe the demand for
fireplaces varies by country but is expected to remain lower than
before as a whole. New products will improve the company’s net
sales during the second half of the year.

With the company’s recovering sales and improved cost efficiency,
the full-year consolidated net sales are expected to be up from
the previous year and the 2010 result before taxes is expected to
be positive.

The order books at the end of the report period amounted to EUR
6.7 million (EUR 6.5 million on 30 June 2009 and EUR 4.8 million
on 31 December 2009).

Strategy

The revised strategy put in place in the Group at the beginning of
the report period covers all key operating and financial targets
to the end of 2015. Under the strategy, the company’s organic
growth target is an annual growth of over 10 per cent, and the
target for profit before taxes is 10 per cent of net sales over
the next five years. The target for return on equity is to exceed
20 per cent. Corporate acquisitions in support of the strategy are
also possible.

INTERIM REPORT January – June 2010, SUMMARY
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
MEUR
                     1-6/   1-6/  Change, 1-12/  4-6/   4-6/ Change
                     2010   2009        %  2009 2010    2009       %

Sales                25.4   24.0      5.9  53.1  14.7   13.0    13.3
Other operating
income                0.3    0.4            0.6   0.2    0.3
Increase/decrease in
inventories in
finished goods and
in work in progress   1.1   -0.6           -1.0   1.1   -0.1
Production for
own use               0.1    0.2            0.3   0.0    0.1
Raw materials and
consumables           5.6    4.7           10.2   3.4    2.6
External services     4.0    3.4            7.6   2.5    1.9
Personnel expenses    9.7   10.6           20.0   5.3    5.2
Depreciation          2.4    2.8            5.5   1.2    1.6
Other operating
expenses              6.5    5.9           12.1   3.1    2.8

Operating profit/
loss                 -1.3   -3.4     62.2  -2.4   0.5   -0.7   160.7
Percentage of sales  -5.0  -14.0           -4.5   3.1   -4.9
Finance income        0.1    0.1            0.2   0.1    0.0
Finance expense      -0.6   -0.7           -1.1  -0.3   -0.3
Share of the profit of
associated company    0.0    0.0            0.0   0.0    0.0

Profit before tax    -1.7   -3.9     56.1  -3.3   0.2   -0.9   122.0
Percentage of sales  -6.8  -16.3           -6.2   1.3   -6.8
Direct taxes          0.4    0.9            1.0   0.0    0.2

Profit/loss for
the period           -1.3   -3.1     56.9  -2.4   0.2   -0.7   135.1

Other comprehensive income
Interest rate swaps    0.0   0.0            0.0   0.0    0.0
Translation
differences            0.0   0.0            0.0  -0.1    0.0

Total comprehensive
income for the period -1.3  -3.1     56.8  -2.4   0.1   -0.7   111.6

Earnings per share
attributable to the
equity holders of the
parent company, EUR
basic and diluted    -0.04 -0.08     56.8-0.06   0.00  -0.02   121.1

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
MEUR                              06/2010 06/2009          12/2009
ASSETS
Non-current assets
Property, plant and equipment
Land                                  1.0     1.0              1.0
Buildings                             7.2     7.7              7.4
Machinery and equipment               7.2     9.1              8.1
Other tangible assets                 1.0     1.1              1.1
Intangible assets
Goodwill                              4.2     4.3              4.2
Other intangible assets              10.6    10.7             10.6
Investment properties                 0.2     0.2              0.2
Available-for-sale investments        0.1     0.1              0.1
Receivables
Deferred tax assets                   1.9     1.7              1.6
Total non-current assets             33.4    35.9             34.3

Current assets
Inventories                          11.1    10.9             10.2
Trade receivables                     6.4     5.4              4.1
Current income tax receivables        0.1     0.2              0.3
Other receivables                     1.1     1.0              0.9
Cash and cash equivalents             8.4     4.9             10.6
Total current assets                 27.1    22.4             26.1
Total assets                         60.5    58.3             60.4

EQUITY AND LIABILITIES
Equity
Share capital                         6.3     6.3              6.3
Share premium fund                    7.4     7.4              7.4
Treasury shares                      -0.1    -0.1             -0.1
Translation difference                0.0     0.0             -0.1
Revaluation reserve                  -0.1    -0.1             -0.1
Retained earnings                     8.2     9.6             10.4
Total equity                         21.6    23.1             23.8
Non-current liabilities
Deferred income tax liabilities       1.8     1.9              1.0
Provisions                            1.0     0.9              1.9
Interest-bearing debt                21.1    18.3             19.9
Other debt                            0.1                      0.1
Total non-current liabilities        24.0    21.1             22.9
Current liabilities
Trade and other payables              9.1     8.7              8.7
Current income tax liabilities                                 0.0
Current provisions                    0.2     0.5              0.2
Short-term interest-bearing debt      5.6     4.9              4.8
Total current liabilities            14.9    14.1             13.7
Total liabilities                    38.9    35.2             36.6
Total equity and liabilities         60.5    58.3             60.4

CONSOLIDATED STATEMENT OF CASH FLOWS
                                   01-06/  01-06/           01-12/
MEUR                                 2010    2009             2009

Cash flows from operating activities
Profit for the period                -1.3    -3.1             -2.4
Adjustments:
Non-cash transactions                 2.5     2.8              5.5
Interest expenses
and interest income and taxes         0.0    -0.3              0.0
Change in working capital            -3.0     0.0              1.8
Interest paid and received
and taxes paid                       -0.3    -0.8             -1.2
Net cash flow from operating
activities                           -2.1    -1.4              3.7

Cash flows from investing activities
Investment in property, plant and
equipment and intangible assets      -1.3    -0.9             -2.0
Grants received for investments
and sales of property, plant and
equipment                             0.1     0.1              0.2
Net cash flow from investing
activities                           -1.2    -0.8             -1.8

Cash flows from financing activities
Proceeds from  non-current and
current borrowings                    5.0                      5.1
Repayment of non-current and current
borrowings                           -3.0    -3.5             -7.0
Dividends paid and
treasury shares                      -0.9    -1.1             -1.1
Net cash flow from financing
activities                            1.1    -4.6             -3.0

Change in cash and cash
equivalents                          -2.2    -6.8             -1.1

Cash and cash equivalents at
beginning of period                  10.6    11.7             11.7
Cash and cash equivalents at
end of period                         8.4     4.9             10.6

STATEMENT OF CHANGES IN EQUITY
MEUR
                 Share   Share Trans- Revalu-  Trea-     Re- Total
               capital premium lation   ation   sury  tained
                          fund  diff.     re-  share   earn-
                                        serve           ings
Equity
Jan. 1, 2010       6.3     7.4   -0.1    -0.1   -0.1    10.4  23.8
Dividends paid
and treasury shares                                     -0.9  -0.9
Total comprehensive
income for the period             0.1                   -1.3  -1.2
Equity
June 30, 2010      6.3     7.4    0.0    -0.1   -0.1     8.2  21.6

Equity
Jan. 1, 2009       6.3     7.4    0.0    -0.1   -0.1    13.7  27.2
Total comprehensive
income for the period                            0.0    -1.0  -1.0
Dividends                                               -3.1  -3.1
Equity
June 30, 2009      6.3     7.4    0.0    -0.1   -0.1     9.6  23.1

SEGMENT REPORTING                    1-6/    1-6/             1-12
MEUR                                 2010    2009             2009
Operating segments
Sales                                25.4    24.0             53.1
Fireplaces                           22.5    21.0             47.8
Natural Stone Products                2.9     3.0              5.3
Other items                             -       -                -

Operating profit/loss                -1.3    -3.4             -2.4
Fireplaces                           -0.3    -2.4             -0.2
Natural Stone Products               -0.1    -0.1             -0.3
Other items                          -0.9    -0.9             -1.9

OPERATING SEGMENTS QUARTERLY
                         Q2/     Q1/    Q4/     Q3/    Q2/     Q1/
                        2010    2010   2009    2009   2009    2009
Operating segments
Sales                   14.7    10.7   15.6    13.5   13.0    11.0
Fireplaces              13.0     9.5   14.4    12.4   11.4     9.6
Natural Stone Products   1.7     1.2    1.2     1.1    1.6    1.4
Other items                -       -      -       -      -       -

Operating profit/loss    0.4    -1.7    0.3     0.7   -0.7    -2.7
Fireplaces               0.8    -1.1    1.0     1.2   -0.2    -2.2
Natural Stone Products   0.1    -0.2   -0.2     0.0    0.0    -0.1
Other items             -0.5    -0.4   -0.5    -0.5   -0.5    -0.4

ASSETS AND LIABILITIES BY SEGMENT ON JUNE 30, 2010
                             Fire-   Natural     Other       Total
                            places     Stone     items
                                    Products
Assets by segment             45.1       4.2      11.2        60.5
Liabilities by
Segment                        8.5       0.9      29.4        38.8
Investments                    1.0       0.0       0.2         1.2
Depreciation and amortisation
expenses                       2.1       0.1       0.2         2.4

KEY FINANCIAL RATIOS AND
SHARE RATIOS
                     1-6/10    1-6/09    4-6/10    4-6/09    1-12/09

Earnings per share,
EUR                   -0.04     -0.08      0,00     -0.02      -0.06
Equity per share,
EUR                    0.58      0.62      0.58      0.62       0.64
Return on equity,
%                     -11.7     -24.4       2.7     -12.1       -9.2
Return on investments,
%                      -4.7     -12.9       4.3      -3.6       -4.3
Equity ratio, %        35.8      39.6                           39.4
Net indebtness ratio,
%                      84.4      79.3                           59.4
Current ratio           1.8       1.6                            1.9
Gross investments,
MEUR                    1.2       0.9                            2.1
Gross investments,
% of sales              4.8       3.8                            4.0
Research and development
costs,  MEUR            0.9       0.7                            1.6
%/sales                 3.6       2.7                            3.1
Outstanding orders
(30 June), MEUR         6.7       6.5                            4.8
Average number of
 staff                  374       393                            417

Rate development of
shares, EUR
Lowest share price,
EUR                    1.07      0.67                           0.67
Highest share price,
EUR                    1.79      1.30                           1.30
Average share price,
EUR                    1.38      0.83                           0.96
Closing price, EUR     1.35      0.90                           1.06

Market capitalization at the
end of period,
1000 EUR           49 976.7  33 317.8                       39 241.0
(Supposing that the market
price of the K-share
is the same as that
of the A-share)
Number of shares traded,
(1000 pcs)          2 342.5   1 349.7                        3 959.0
% of total amount of
A-shares                8.5       4.9                           14.4
Number of shares
average            37019770  37027647  37019770  37011603   37023708
Number of shares
30 June            37019770  37019770  37019770  37019770   37019770

NOTES TO THE CONSOLIDATED FINANCIALS STATEMENTS
This financial statement release has been prepared in accordance
with the IAS 34 Interim Financial Reporting standard.

In preparing of this interim report, Tulikivi has applied same
accounting policies as in the 2009 financial statements, with the
exception of the following new/amended standards that the group
has adopted as from January 1, 2010:

- Revised IFRS 3 Business combinations (effective as of 1 July
2009). The revised standard includes several significant changes.
- Amendments to IAS 27 Consolidated and separate financial
statements (effective as of 1 July 2009). The amended standard
affects accounting for step acquisitions and divestments.
- Amendment to IAS 39 Financial Instruments: Recognition and
Measurement - Eligible hedged items (effective as of 1 July 2009)
- IFRIC 17 Distributions of Non-cash Assets to Owners (effective
as of 1 July 2009)
- IFRIC 18 Transfers of assets from customers (effective as of 1
July 2009)
- Improvements to IFRSs (April 2009, mainly effective as of 1
January 2010).
- Amendments to IFRS 2 Share-based Payment – Intra-group cash-
settled share-based payment transaction (effective as of 1 January
2010).

The Group’s view is that the adoption of the standards and
interpretations mentioned above will not have any significant
effect on the financial statements of 2010 reporting period. The
adaptation of the revised IFRS 3 would affect the financial
statements of Tulikivi Group in 2010, should a transaction during
the financial period meet the definition of a business
combination.

The key performance ratios and share ratios are calculated using
the same methods as for the consolidated financial statements for
2009. The calculations rules can be found in the 2009 annual
report, page 76.

Income taxes
EUR million                 01-06/10     01-06/09    01-12/09
Taxes for the current and previous
reporting periods                0.0        0.0        0.1
Deferred taxes                   0.4        0.9        0.9
Total                            0.4        0.9        1.0

Collaterals given
EUR million                     6/10       6/09      12/09
Loans from credit institutions and
other long term debts and loan
guarantees, with related mortgages
and pledges                     24.8       22.4       21.9
Mortgages granted and
collaterals pledged             29.3       25.1       28.2
Other given guarantees and
pledges on behalf of own
liabilities                      0.8        0.5        0.8
Derivatives
Interest rate swaps
Nominal value                    6.5       11.9        7.3
Fair value                      -0.2       -0.3       -0.3
Foreign exchange forward contracts
Nominal value                    0.2          -        0.1
Fair value                       0.0                   0.0
The fair value of derivatives is the gain or loss for closing the
contract based on market rates at the balance sheet date.

Provisions
The Group’s non-current provisions are an environmental provision
of EUR 0.6 million and a warranty provision of EUR 0.4 million.
Current provisions include the latter part of in 2009 recognized
restructuring provision of EUR 0.2 million.

Non-current provisions are itemized in greater detail in notes 26.
Provisions and 34. Contingent liabilities in the consolidated
financial statements in Annual Report 2009.
Contingent liabilities have not changed after the end of the
financial period.

Changes in tangible assets are classified as follows:
                             6/10    6/09          12/09
Acquisition costs             0.6     0.9            1.1
Proceeds from sale            0.0     0.0           -0.1
Total                         0.6     0.9            1.0

Share capital
Share capital by share series

                        Number of   % of    % of        Share,
                           shares  shares  voting       EUR of
                                           rights        share
                                                       capital
K shares (10 votes)     9 540 000    25.7    77.6    1 621 800
A shares (1 vote)      27 603 970    74.3    22.4    4 692 675
Total June 30, 2010    37 143 970   100.0   100.0    6 314 475

There have been no changes in Tulikivi Corporation´s share capital
during the period. According to the articles of association the
dividend paid for Series A shares shall be 0.0017 EUR higher than
the dividend paid on Series K shares.  The Series A share is
listed on the NASDAQ OMX Helsinki Ltd. No flagging notifications
were made to the company during the review period.  The number of
the shares in the company´s possession at the end of the period
was 124 200 series A shares.

Board authorizations
The Annual General Meeting of April 14, 2010 authorized the Board
of Directors to acquire the company’s own shares. A maximum of 2
760 397 Series A shares in the company and 954 000 Series K shares
in the company can be bought back. The authorization is valid
until the Annual General Meeting 2011.

The Board of Directors has further an authorization to decide on
share issues and the conveyance of the company’s own shares in the
possession of the company.
New shares can be issued or own shares held by the company
conveyed amounting to a maximum of 5 520 794 Series A shares and 1
908 000 Series K shares. The authorization is valid until the
Annual General Meeting 2011.

Related party transactions
The following transactions with related parties took place:
EUR 1000                             6/10    6/09  12/09
Sales to associated companies                   6      7
Purchases from associated
companies                              94      85    148

Sales to related parties               12

Leases from related parties            54      56    109

Receivables from the related parties   -        -      1
Debts to the related parties                           2

Transactions with other related parties
Tulikivi Corporation is a founder member of the Finnish Stone
Research Foundation. The company has leased offices and storages
from the property owned by the Foundation and North Karelia
Educational Federation of Municipalities. The rent paid for these
facilities was EUR 66 thousand (65 thousand) in the period. The
rent corresponds with the market rents. The service charges from
the Foundation were EUR 2 thousand.

EUR 1000                             6/10    6/09  12/09
Salaries and other short-term employee
benefits of the Board of Directors
and Managing Directors                213     274    479
Other long term employee benefits              32     32    61

Largest shareholders on June 30, 2010
Name of shareholder                        Shares         Pro-
                                                       portion
                                                      of total
                                                          vote

Vauhkonen Reijo                         4 186 827       24.3 %
Vauhkonen Heikki                        3 014 724       24.1 %
Elo Eliisa                              2 957 020        5.9 %
Virtaala Matti                          2 429 887       12.6 %
Mutual Pension Insurance
Ilmarinen                               1 902 380        1.5 %
Mutanen Susanna                         1 643 800        7.2 %
Vauhkonen Mikko                           782 310        3.5 %
Paatero Ilkka                             718 430        0.6 %
Nuutinen Tarja                            674 540        3.5 %
Investment Fond Phoebus                   585 690        0.5 %
Other shareholders
                                       18 248 362       16.3 %

The information in the interim report is unaudited.

The companies included in the Group are the parent company
Tulikivi Corporation, Kivia Oy, AWL-Marmori Oy, Tulikivi U.S. Inc.
and OOO Tulikivi. Group companies include also The New Alberene
Stone Company, Inc., which is dormant. The parent company has a
fixed place of business in Germany, Tulikivi Oyj Niederlassung
Deutschland. The Group has interests in associated companies Stone
Pole Oy, Leppävirran Matkailukeskus Oy and Rakentamisen MALL Oy.

TULIKIVI CORPORATION

Board of Directors
Matti Virtaala Chairman of the Board

Distribution: NASDAQ OMX Helsinki Ltd
Central Media
www.tulikivi.com

Additional information: Tulikivi Corporation, 83900 Juuka,
www.tulikivi.com
- Chairman of the Board of Directors Matti Virtaala, +358 207 636
666
- Managing Director Heikki Vauhkonen, +358 207 636 555