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24.4.2026 11:30:01 EEST | Reka Industrial Oyj | Interim report (Q1 and Q3)
24.4.2026 11:30:00 EEST | Reka Industrial Oyj | Interim report (Q1 and Q3)
Reka Industrial Plc: Volumes increased from last year
January-March 2026
- The Rubber segment’s turnover was EUR 8.5 (7.9) million
- The Rubber segment’s EBITDA was EUR 0.9 (0.9) million
- The Group’s turnover was EUR 8.5 (7.9) million
- The Group’s EBITDA was EUR 0.6 (0.5) million
- The Group’s operating profit was EUR 0.3 (0.1) million
- The Group’s result for the period was EUR -0.1 (0.2) million
- The Group’s cash and cash equivalents totalled EUR 29.4 million on March 31, 2026
Reka Industrial’s industrial business consists of Reka Rubber, which is one of the leading manufacturers of industrial rubber products in Northern Europe.
The interim report is unaudited. Figures in brackets refer to the same period a year earlier, unless otherwise stated.
President and CEO Sari Tulander:
Reka Rubber’s volumes in the first quarter were higher than in the same period last year. Customer-specific volumes varied widely compared to volumes a year ago.
The global situation and the looming energy crisis are creating uncertainty in the market. The first signs of impacts on the price and availability of energy and materials, as well as on transport times and costs, are already partially visible, but visibility is still very short. As the Middle East conflict continues, the impacts will increase. Active preparation for possible challenges is carried out together with customers. The shelf life of rubber raw materials is limited, which limits the available contingency measures, but customer-specific solutions have been found.
Last year, we increased our investments in sales and sales management.
To ensure profitability, we continuously strive to take into account the increase in costs in our sales prices as quickly as possible. We also invest in improving productivity and cost-efficiency and strengthening the conditions for future growth by developing our product offering and production technology.
We systematically take measures to reduce our carbon footprint and increase the energy efficiency of our production. The energy project launched a year ago to convert the Aura factory's production process CO2-free has progressed, and the new power-to-heat thermal storage is expected to be commissioned in July-August.
With its strategy, Reka Industrial aims to increase shareholder value through M&A arrangements. We have a strong background in industrial manufacturing and international operations, complemented by our entrepreneurial approach. Based on these strengths, we identify and evaluate new opportunities and further develop our operations.
Major events during the financial period
On January 30, 2026, Reka Industrial published that Reka Rubber Ltd, a subsidiary of Reka Industrial Plc, had decided to establish a wholly owned subsidiary in Ukraine. The subsidiary has now been established, and the next step is to acquire an industrial property in Ukraine with the purpose of commencing production of technical rubber products.
The establishment of the subsidiary is part of Reka Rubber’s ongoing strategy to develop and increase its production capacity and to support long-term growth.
Near-term outlook
The Rubber segment continues to improve productivity and profitability, while creating more conditions for future growth. Investments will be continued for long-term growth, which is supported by investments in production technology that has lower emissions and consumes less natural resources.
In 2026, the EBITDA is expected to be better than in the previous year.
The company will continue to explore M&A arrangements.
Key figures
1-3/2026 | 1-3/2025 | 1-12/2025 | |
Turnover, EUR million | 8.5 | 7.9 | 31.6 |
EBITDA, EUR million | 0.6 | 0.5 | 2.5 |
Operating profit, EUR million | 0.3 | 0.1 | 1.2 |
Operating profit, % | 3.4 | 1.8 | 3.7 |
Result for the period, EUR million | -0.1 | 0.2 | 1.2 |
Earnings per share, EUR | -0.01 | 0.04 | 0.20 |
Net cash provided by operating activities, EUR million | 0.8 | 0.0 | 1.7 |
IAS 19 corrected equity ratio, % | 68.0 | 72.4 | 68.9 |
The Reka Industrial Group (Reka Industrial) uses alternative key figures in its financial reporting in accordance with the guidelines of the European Securities and Markets Authority (ESMA).
Reka Industrial presents alternative key figures so that the effects of IAS 19 recognition of defined benefit pension liabilities are eliminated from the result and balance sheet items of the key figures. The entries of the IAS 19 defined benefit plan in the income statement are presented below the operating result as a separate item before the share of the result of associated companies. In this way, the development of Reka Industrial's operational business can be better monitored.
Turnover and operating result
The Group’s turnover was EUR 8.5 (7.9) million. EBITDA was EUR 0.6 (0.5) million and operating result was EUR 0.3 (0.1) million. The result for the review period was EUR -0.1 (0.2) million.
Balance sheet and financing
The balance sheet total at the end of the review period was EUR 66.1 million (EUR 65.2 million on December 31, 2025).
At the end of the review period, the Group’s cash and cash equivalents totalled EUR 29.4 million (EUR 30.0 million on December 31, 2025). Cash equivalents are invested mainly in low-risk instruments and short-term deposits.
At the end of the review period, the Group’s interest-bearing liabilities were EUR 8.9 million (EUR 9.7 million on December 31, 2025), of which other than finance lease liabilities were EUR 4.5 million (EUR 5.0 million on December 31, 2025).
Sustainability
Reka Industrial promotes sustainability in the development of its business and daily work. The aims of the sustainability work have been formed according to the UN Global Compact initiative, and Reka Industrial has chosen five of 17 goals in the initiative that are most important to its business.
Reka Industrial’s goal is to take into account the needs and wishes of all its stakeholders and actively promote sustainable development according to these needs. The company invests in its personnel’s working conditions and develops the competence of its personnel. The company is a long-term responsible business partner to its customers and representatives of its supply chain. Reka Industrial follows highly ethical rules, which it also requires from its business partners.
Reka Rubber promotes common goals with Reka Industrial and is also involved in the chemical industry’s Responsible Care programme, the key themes of which are the sustainable use of natural resources and the sustainability of production and products. Reka Rubber is committed to the EcoVadis system, which is an independent and international sustainability assessment system. EcoVadis reviews the company’s labour practices, ethics, environmental responsibility, and sustainable supply chain. The sustainability work is also supported by an ISO 14001 certified environmental management system and an ISO 9001 certified quality management system. Reka Rubber holds the required environmental permits.
For Reka Rubber, climate action means reducing emissions and improving energy efficiency. At the same time, the aim is to influence factors affecting air quality. Reka Rubber calculates the carbon footprint of its own operations, which it strives to reduce by consuming emission-free electricity and improving energy efficiency of its own operations. Both Reka Rubber’s factories use CO2- free electricity.
In February 2025, Reka Rubber launched an energy project to improve the energy efficiency of the Aura factory and convert the energy used in steam-powered production processes to CO2-free. The energy used in other production processes at the Aura factory has already been CO2-free. Solar panels have been installed at the factory in Aura and both factories are gradually switching to LED lighting.
An essential factor is also the rubber raw material, its efficient use and production waste. The Rubber segment strives to reduce the amount of rubber waste in proportion to production tonnes through material selection, process development and technical supports, as well as by enhancing the utilization of waste.
Segments
Reka Industrial’s industrial business consists of Reka Rubber Ltd’s business and it has one segment, the Rubber segment.
Rubber segment
In January-March 2026, the Rubber segment’s turnover was EUR 8.5 (7.9) million. EBITDA was EUR 0.9 (0.9) million.
| 1-3/2026 | 1-3/2025 | 1-12/2025 |
Turnover, EUR million | 8.5 | 7.9 | 31.6 |
EBITDA, EUR million | 0.9 | 0.9 | 3.5 |
The power-to-heat thermal storage solution ordered in 2025 will be delivered in July-August 2026. The heat recovery solution to further reduce the carbon footprint will be completed during year 2026 at the Aura factory.
Personnel
In January-March 2026 the Group employed an average of 275 (266) people.
Risks and uncertainty factors
The financial situation in the euro area and geopolitical uncertainties may have an effect on the purchase amounts and the launch of new projects of the customers in the Rubber segment. The threat of an energy crisis caused by the conflict in the Middle East is creating uncertainty in the market and its effects on the price and availability of energy and materials, as well as on transportation times and costs, may become even stronger.
Financial risks and the related protection measures are described in more detail in the notes to the Financial Statements. The company’s future risk factors are related to the investment activities and the development of its business segments.
The Reka Industrial Group belongs to the Reka Pension Fund for the companies located in Finland. According to current legislation, the pension fund must have at least 150 employed members. Reka Cables Ltd, previously part of the group, was transferred out of the Reka Pension Fund at the end of March 2025. After the transfer of Reka Cables Ltd out of Reka Pension Fund, Reka Pension Fund was left with less than 150 employed members. Reka Pension Fund has announced that one new member company joined the fund at the beginning of April 2026, which increased the number of working members. However, the number of working members still remains slightly below 150 people.
If the number of working members of Reka Pension fund does not increase over 150 persons during the next 2 years, possibly with an additional 1 year if receiving official permit, may the pension fund be dissolved in 2028. If Reka Pension fund is dissolved, the IAS 19 entries related to the pension fund will be removed (IAS 19 pension receivable EUR 6.3 million). The view of the Board of the Group and the parent company and Reka Pension fund is that the number of members will increase and the required limit of 150 working people will be met.
On March 31, 2026 Reka Rubber sub-group has a total of EUR 8.0 (EUR 8.0 on December 31, 2025) million guarantee capital investments in Reka Pension fund. If Reka Pension fund is dissolved and at the time of dissolvement the pension fund’s solvency is not sufficient to repay the guarantee capital investments, an investment loss will arise to the extent that the investment cannot be recovered. In the financial statements on December 31, 2024, an expense provision of EUR 2.3 million has been taken into account in case the development of Reka Pension fund's membership does not develop favorably. The provision was not cancelled due to the uncertainty still related to the matter.
Major events after the review period
There have been no major events after the review period.
In Hyvinkää 24 April 2026
Reka Industrial Plc
Board of Directors
Further information:
Sari Tulander, President and CEO, tel. +358 44 044 1015
Disclosure regulation
All comments in this report that do not refer to actual facts are future estimates. Such estimates include expectations concerning market trends, growth and profitability as well as statements including the words "believe", "assume" or "will be" or a similar expression. Since these estimates are based on current plans and estimates, they involve risks and uncertainty factors that may cause the actual results to differ substantially from current statements.
Among other things, such factors include 1) operating conditions, such as continued success in production and the ensuing efficiency benefits, availability and cost of production inputs, demand for new products and changes in circumstances affecting the acquisition of capital under acceptable conditions; 2) sector-specific circumstances, such as the intensity of demand for products, the competition, current and future market prices for the Group’s products and related pricing pressures, the financial situation of the Group’s customers and competitors and competitors’ possible new products; and 3) the general economic situation, such as economic growth in the Group’s main market areas and change in exchange rates and interest rates.
Figures in brackets refer to the same period a year earlier, unless otherwise stated.
Contacts
- Sari Tulander, President and CEO, +358 44 044 1015, [email protected]
About Reka Industrial Oyj
As an industrial family company, we are committed to developing the performance and sustainability of the companies we own. Reka Industrial class B shares are listed on the Nasdaq Helsinki Ltd.