Reka Industrial Oyj

On January 30, 2025, Reka Industrial Plc held an Extraordinary General Meeting in Hyvinkää. The meeting approved a proposal to set the number of Board members at four. The elected Board members are Markku Rentto as chairperson, Riitta Mynttinen as deputy chairperson, and Matti Copeland and Riku Kytömäki as members. No deputy members were chosen. Reka Industrial is an industrial family company with class B shares listed on Nasdaq Helsinki. For more information, contact Sari Tulander, President and CEO.

Reka Industrial Plc has disclosed information regarding a proposal by shareholders representing over 50% of the votes for the upcoming Extraordinary General Meeting on January 30, 2025. The proposal suggests maintaining the number of Board of Directors members at four, with no deputy members. The proposed board members include the re-election of Markku Rentto and the election of new members Matti Copeland, Riku Kytömäki, and Riitta Mynttinen. Markku Rentto is proposed as Chairperson and Riitta Mynttinen as Vice Chairperson. Reka Industrial's class B shares are listed on Nasdaq Helsinki Ltd.

Reka Industrial Plc has announced an Extraordinary General Meeting scheduled for January 30, 2025, at Hyvinkään Villatehdas in Hyvinkää, Finland. Registration and distribution of voting tickets will begin at 10:30 am. Shareholders must be registered in the company's shareholder register by January 20, 2025, and register for the meeting by January 27, 2025, via email, telephone, or regular mail. Holders of nominee registered shares must also be temporarily entered into the shareholders' register by January 27, 2025. Shareholders can participate through proxy representation with appropriate documentation. As of January 8, 2025, Reka Industrial Plc has 139,600 class A shares with 20 votes each and 5,880,760 class B shares with one vote each. The company holds 37,150 class B shares, representing 0.43% of all votes. Further details and documents are available on Reka Industrial's website.

Reka Industrial Plc has announced an Extraordinary General Meeting to elect a new Board of Directors. The current Board had previously set criteria for strategic work in 2024 and evaluated several companies, but no transaction was completed due to a lack of consensus on how to proceed. The meeting aims to address this by electing new board members. The notice for the meeting will be published on January 8, 2025, with shareholder proposals available by January 22, 2025. Board member Markku Rentto expressed confidence in updating the criteria for future strategy work as the right decision. Reka Industrial's class B shares are listed on Nasdaq Helsinki Ltd.

Reka Industrial Plc has announced its financial reporting schedule for 2025. The financial statement release for 2024 will be on February 27, 2025, followed by the financial statements and annual report on March 27, 2025. The interim report for Q1 2025 will be released on April 24, 2025, the half-year report for H1 2025 on August 7, 2025, and the interim report for Q1-Q3 2025 on October 23, 2025. The Annual General Meeting is scheduled for April 24, 2025. All reports will be available in Finnish and English on the company's website. Reka Industrial Plc's class B shares are listed on Nasdaq Helsinki Ltd. For further information, Sari Tulander, President and CEO, can be contacted.

Reka Industrial Oyj released its unaudited interim report for Q1 and Q3 of 2024. The company has been undergoing a strategic transformation since selling Reka Cables Ltd in April 2023, which resulted in a EUR 31.0 million gain. The group's turnover for January-September 2024 was EUR 20.7 million, a significant decrease from EUR 84.6 million the previous year, largely due to the exclusion of Reka Cables' figures. EBITDA also fell to EUR 0.1 million from EUR 38.0 million. The company's cash and financial assets totaled EUR 26.0 million, with investments in low-risk assets. Reka Rubber, the primary business segment, saw a decrease in turnover to EUR 20.7 million from EUR 23.6 million and a drop in EBITDA to EUR 0.8 million from EUR 1.4 million. Challenges include lower order volumes and increased costs, although efforts to improve efficiency and pass on cost increases are underway. The company is also focusing on sustainability initiatives, including reducing emissions and improving energy efficiency. Reka Industrial aims to grow into a medium-sized listed company within five years through strategic acquisitions, leveraging its expertise in industrial manufacturing and international operations. The company is also seeking a new Managing Director for Reka Rubber Ltd, with the current President and CEO, Sari Tulander, temporarily filling the role. No major events occurred after the review period, and the challenging market conditions are expected to persist in the near term.

Reka Industrial Oyj released its unaudited half-year financial report for January-June 2024. The report highlights the company's financial performance following the sale of Reka Cables to Nexans Group in April 2023, which resulted in a notable increase in cash equivalents and subsequent investments in low-risk instruments and short-term deposits. The company paid EUR 12.0 million in dividends in May 2024, and at the end of the review period, cash and cash equivalents stood at EUR 26.7 million. Reka Industrial's current industrial business focuses on Reka Rubber, a leading manufacturer of industrial rubber products in Northern Europe. The Rubber segment reported a turnover of EUR 14.7 million, down from EUR 17.1 million the previous year, due to market uncertainties affecting order volumes and lead times. Profitability was impacted by decreased volumes and delays in transferring cost increases to customers. The company is actively working on improving productivity and profitability, including ongoing investments in production capacity and efficiency. Key financial figures for the first half of 2024 include a turnover of EUR 14.7 million, an EBITDA of EUR -0.1 million, and a result for the period of EUR -0.2 million. The balance sheet total at the end of the review period was EUR 61.9 million, with interest-bearing liabilities of EUR 6.9 million. Reka Industrial is committed to sustainability, aligning its efforts with the UN Global Compact initiative and focusing on reducing emissions, improving energy efficiency, and minimizing rubber waste. The Rubber segment achieved a bronze rating in the EcoVadis sustainability assessment and is part of the chemical industry's Responsible Care program. The company's strategy aims to grow its turnover to become a medium-sized listed company within five years, leveraging its industrial manufacturing expertise and international operations. The board has set criteria for the next stages of strategy work, with Sisu Partners as the financial advisor. The company continues to invest mainly in low-risk instruments and short-term deposits during the strategy process. No major events occurred after the review period, and the challenging market situation is expected to persist throughout the year. The full half-year report is available on Reka Industrial's website.

On June 11, 2024, Reka Industrial Plc announced the initiation of a recruitment process to appoint a new Managing Director for its subsidiary, Reka Kumi Oy. Until a new Managing Director is appointed, Sari Tulander, the President and CEO of Reka Industrial, will temporarily assume the role in addition to her current duties. The Board of Directors expressed their gratitude to the former Managing Director, Tero Manner, for his contributions. The change aims to enhance efficiency, profitability, and future growth. Further information is available from Leena Saarinen, Chair of the Board of Directors, and Sari Tulander, President and CEO. Reka Industrial's class B shares are listed on Nasdaq Helsinki Ltd.