{"id":99789,"date":"2026-09-01T06:43:29","date_gmt":"2026-09-01T06:43:29","guid":{"rendered":"https:\/\/www.timberindustrynews.com\/?p=99789"},"modified":"2026-09-01T16:10:00","modified_gmt":"2026-09-01T16:10:00","slug":"pfeifer-nordics-remains-loss-making-three-years-after-polkky-acquisition","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/pfeifer-nordics-remains-loss-making-three-years-after-polkky-acquisition\/","title":{"rendered":"Pfeifer Nordics remains loss-making three years after P\u00f6lkky acquisition"},"content":{"rendered":"

Pfeifer Nordics, the Finnish wood processing company formerly known as P\u00f6lkky, reported another heavy loss in 2025 despite a sharp increase in sales, extending its loss-making period to all three years since Austria\u2019s Pfeifer Group acquired the company.<\/p>\n

Revenue increased by almost a third to EUR 212.5 million, from EUR 160.4 million in 2024. Profitability moved in the opposite direction. The operating loss widened to EUR 23.8 million from EUR 12 million, while the net loss increased to EUR 29.8 million from EUR 17.7 million.<\/p>\n

The comparison with the period immediately before the acquisition is striking. P\u00f6lkky generated EUR 213.5 million in revenue and an operating profit of EUR 37.7 million in 2022. Three years later, sales were almost identical at EUR 212.5 million, but the operating result was EUR 23.8 million in the red.<\/p>\n

That represents a swing of more than EUR 60 million in operating earnings despite almost no difference in annual revenue.<\/p>\n

\n\n\n\n\n\n\n\n\n
Year<\/th>\nRevenue
\n(EUR m)<\/th>\n		Operating profit\/(loss)
\n(EUR m)<\/th>\n		Operating margin<\/th>\nNet profit\/(loss)
\n(EUR m)<\/th>\n<\/tr>\n<\/thead>\n
2022<\/td>\n213.5<\/td>\n37.7<\/td>\n17.7%<\/td>\n27.9<\/td>\n<\/tr>\n
2023<\/td>\n182.1<\/td>\n\u221238.3<\/td>\n\u221221.0%<\/td>\n\u221237.5<\/td>\n<\/tr>\n
2024<\/td>\n160.4<\/td>\n\u221212.0<\/td>\n\u22127.5%<\/td>\n\u221217.7<\/td>\n<\/tr>\n
2025<\/strong><\/td>\n212.5<\/strong><\/td>\n\u221223.8<\/strong><\/td>\n\u221211.2%<\/strong><\/td>\n\u221229.8<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: company financial accounts \/ Finnish business register data<\/p>\n

The 2022 figures cover the final financial year before Pfeifer completed the acquisition in January 2023. All three subsequent years have ended with operating losses.Cumulative operating losses between 2023 and 2025 reached approximately EUR 74 million.<\/p>\n

The comparison with 2022 needs some context. European softwood lumber prices and sawmill margins were exceptionally strong during 2021 and parts of 2022. The market then weakened sharply as construction slowed and lumber prices retreated. Even so, the 2025 figures stand out because sales recovered strongly while losses increased.<\/p>\n

Kajaani expansion lifts production capacity<\/strong><\/p>\n

The 2025 financial year also included the commissioning of the new Kajaani sawmill, one of the largest investments in Pfeifer\u2019s Finnish operations.<\/p>\n

The project increased theoretical softwood lumber capacity at Kajaani from around 200,000 m\u00b3 to approximately 450,000 m\u00b3 per year. The new mill was commissioned around the middle of 2025, so the additional production base was available for only part of the year.<\/p>\n

The Kajaani project had originally been launched by P\u00f6lkky before the acquisition. Pfeifer continued the investment after taking control of the company.<\/p>\n

The commissioning was not straightforward. According to Finnish forestry publication Mets\u00e4lehti, the project encountered problems and a dispute with the former Virranniemi owners was eventually settled through arbitration. The terms remain confidential.<\/p>\n

The expansion nevertheless gives Pfeifer Nordics a considerably larger production base. A full year of operations at the new mill will make 2026 a more useful measure of the impact of the investment.<\/p>\n

Balance sheet strengthens despite losses<\/strong><\/p>\n

One financial indicator improved despite the deeper loss. Pfeifer Nordics' equity ratio increased from 39.3% to 44.8% in 2025.<\/p>\n

Since the company recorded a EUR 29.8 million net loss, the improvement did not come from retained earnings. The published figures indicate that additional capital strengthened the balance sheet, although the available reporting does not specify the full structure behind the change.<\/p>\n

This follows several years of heavy investment in Finland and three consecutive loss-making financial years.<\/p>\n

P\u00f6lkky becomes Pfeifer Nordics<\/strong><\/p>\n

The financial results also come shortly before another major change in the Finnish business. From June 1, 2026, the former P\u00f6lkky operations were reorganised under the Pfeifer Nordics name.<\/p>\n

The Finnish business now operates as a dedicated segment within Pfeifer, with its products marketed as \u201cPremium Timber from the Arctic Circle\u201d. Around 70% of the logs processed by the Finnish mills are pine and the remaining 30% spruce.<\/p>\n

The range includes softwood lumber, planed timber and glulam. Finnish sales have also been integrated into Pfeifer\u2019s international sales organisation, with the group opening a sales office in Helsinki.<\/p>\n

Pfeifer is positioning northern Finnish timber separately from its Central European production, highlighting the slow growth, narrow annual rings and density of wood grown in northern Finland. Traditional export markets for the Finnish operations include the UK and Japan.<\/p>\n

The reorganisation marks another stage in the integration of P\u00f6lkky following the 2023 takeover. The former company name has disappeared, while Finnish production is now being marketed under the wider Pfeifer identity.<\/p>\n

Revenue has recovered, profitability has not<\/strong><\/p>\n

The 2025 result leaves Pfeifer Nordics in an unusual position. Revenue has returned almost exactly to the level recorded before the acquisition, but earnings have not followed.<\/p>\n

In 2022, EUR 213.5 million in revenue produced EUR 37.7 million in operating profit. In 2025, EUR 212.5 million in revenue produced an operating loss of EUR 23.8 million.<\/p>\n

Part of the difference can be explained by the extraordinary lumber market of 2022 and the much weaker conditions that followed. The commissioning of Kajaani also means that the Finnish production structure is no longer directly comparable with the pre-acquisition business.<\/p>\n

The company nevertheless enters 2026 after three consecutive operating losses and around EUR 74 million in cumulative operating losses since the takeover.<\/p>\n

At the same time, the industrial base is larger than it was three years ago. Kajaani now has theoretical capacity of around 450,000 m\u00b3 per year, while the former P\u00f6lkky operations have been fully incorporated into Pfeifer's commercial structure.<\/p>\n

The main issue for 2026 is therefore less about revenue growth than whether the higher production base and new sales structure can improve profitability after three difficult years.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Pfeifer Nordics, the Finnish wood processing company formerly known as P\u00f6lkky, reported another heavy loss in 2025 despite a sharp increase in sales, extending its loss-making period to all three years since Austria\u2019s Pfeifer Group acquired the company.<\/p>","protected":false},"author":1,"featured_media":99790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204,4715],"tags":[],"class_list":["post-99789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-market-analysis"],"acf":[],"yoast_head":"\nPfeifer Nordics remains loss-making three years after P\u00f6lkky acquisition - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/pfeifer-nordics-remains-loss-making-three-years-after-polkky-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pfeifer Nordics remains loss-making three years after P\u00f6lkky acquisition - 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