Income Statement Cyprus Forest Industries Public Ltd

Stocks

CFI

CY0001400411

Forest & Wood Products

End-of-day quote CYPRUS S.E. 16/09/2026			5-day change	1st Jan Change
1.500 ^EUR	+9.49%		-.--%	+26.05%

28/09	Cyprus Forest Industries Public Ltd Reports Earnings Results for the Half Year Ended June 30, 2026	CI
16/09	Cyprus Forest Industries Public Ltd Announces Board and Committee Changes	CI

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Published financial data: CYPRUS FOREST INDUSTRIES PUBLIC LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Revenues	66.73L	66.74L	57.66L	60.74L	64.58L
Total Revenues	66.73L	66.74L	57.66L	60.74L	64.58L
Cost of Goods Sold, Total	52.1L	53.6L	49.52L	44.87L	48.68L
Gross Profit	14.63L	13.14L	8L	15.87L	15.9L
Selling General & Admin Expenses, Total	11.85L	12.57L	12.39L	12.58L	12.92L
Provision for Bad Debts	48.64T	-26T	25.26T	-	-
Other Operating Expenses	-7.07T	-17.94T	-2.51T	-7.47T	-26.41T
Other Operating Expenses, Total	12.26L	12.13L	12.62L	12.51L	12.65L
Operating Income	2L	1L	-4L	3L	3L
Interest Expense, Total	-52.87T	-55T	-55.72T	-91.68T	-53.83T
Interest And Investment Income	-	-	-	-	-
Net Interest Expenses	-52.87T	-55T	-55.72T	-91.68T	-53.83T
Currency Exchange Gains (Loss)	-2.02T	-	-	-	-
Other Non Operating Income (Expenses)	-5.07T	-8.29T	-7.82T	-7.2T	-44.19T
EBT, Excl. Unusual Items	2L	37.81T	-5L	2L	2L
Restructuring Charges	-	-	-3L	-	-
Gain (Loss) On Sale Of Investments	265	-	-	-	-
Gain (Loss) On Sale Of Assets	4T	7.16T	-	-	-
Asset Writedown	-	-	-	-	-26.5T
Other Unusual Items	28.82T	-	-	-	-
EBT, Incl. Unusual Items	2L	44.97T	-8L	2L	2L
Income Tax Expense	9.14T	36.66T	25.17T	16.96T	28.46T
Earnings From Continuing Operations	2L	8.31T	-8L	2L	2L
Net Income to Company	2L	8.31T	-8L	2L	2L
Minority Interest	-11.55T	-2.57T	659	-5.06T	-2.68T
Net Income - (IS)	2L	5.74T	-8L	2L	2L
Net Income to Common Incl Extra Items	2L	5.74T	-8L	2L	2L
Net Income to Common Excl. Extra Items	2L	5.74T	-8L	2L	2L
Per Share Items
Net EPS - Basic	0.06	0	-0.27	0.07	0.06
Basic EPS - Continuing Operations	0.06	0	-0.27	0.07	0.06
Basic Weighted Average Shares Outstanding	30.6L	30.6L	30.6L	30.6L	30.6L
Net EPS - Diluted	0.06	0	-0.27	0.07	0.06
Diluted EPS - Continuing Operations	0.06	0	-0.27	0.07	0.06
Diluted Weighted Average Shares Outstanding	30.6L	30.6L	30.6L	30.6L	30.6L
Normalized Basic EPS	0.03	0.01	-0.1	0.05	0.05
Normalized Diluted EPS	0.03	0.01	-0.1	0.05	0.05
Supplemental Items
EBITDA	5L	4L	-3L	5L	5L
EBITA	2L	1L	-4L	3L	3L
EBIT	2L	1L	-4L	3L	3L
Effective Tax Rate - (Ratio)	4.35	81.52	-3.18	7.13	14.22
Current Domestic Taxes	-	25.5T	-	2.52T	4.49T
Total Current Taxes	-	25.5T	-	2.52T	4.49T
Deferred Domestic Taxes	9.14T	11.16T	25.17T	14.43T	-15.68T
Total Deferred Taxes	9.14T	11.16T	25.17T	14.43T	-15.68T
Normalized Net Income	99.14T	21.06T	-3L	1L	1L
Supplemental Operating Expense Items
Selling and Marketing Expenses	4L	4L	4L	5L	5L
General and Administrative Expenses	8L	9L	9L	8L	8L
Maintenance & Repair Expenses, Total	60.14T	52.76T	78.39T	67.51T	59.66T

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Assets
Cash And Equivalents	1L	87.27T	2L	65.99T	23.64T
Total Cash And Short Term Investments	1L	87.27T	2L	65.99T	23.64T
Accounts Receivable, Total	4L	5L	3L	4L	7L
Other Receivables	22.64T	32.48T	29.08T	20T	-
Total Receivables	4L	5L	3L	4L	7L
Inventory	30.26L	41.48L	30.24L	35.29L	33.11L
Other Current Assets, Total	5.69T	9.11T	97.4T	73.8T	1L
Total Current Assets	35.83L	47.9L	36.23L	40.85L	41.14L
Gross Property Plant And Equipment	1.73Cr	1.73Cr	1.78Cr	1.78Cr	1.74Cr
Accumulated Depreciation	-53.08L	-52.49L	-54.31L	-55.68L	-54.8L
Net Property Plant And Equipment	1.2Cr	1.21Cr	1.24Cr	1.23Cr	1.19Cr
Long-term Investments	2.36T	3.94T	6.46T	-	-
Other Intangibles, Total	5.22T	2.1T	789	-	-
Other Long-Term Assets, Total	2L	2L	2L	2L	-
Total Assets	1.58Cr	1.71Cr	1.63Cr	1.66Cr	1.6Cr
Liabilities
Accounts Payable, Total	74.88T	1L	8L	2L	3L
Accrued Expenses, Total	3L	3L	5L	4L	3L
Short-term Borrowings	4L	15.8L	6L	16.84L	10L
Current Portion of Long-Term Debt	3L	3L	2L	2L	2L
Current Income Taxes Payable	-	27.5T	97.7T	2.52T	4.49T
Other Current Liabilities	1L	10.52T	31.89T	87.52T	6L
Total Current Liabilities	11.39L	23.4L	22.47L	25.9L	23.2L
Long-Term Debt	14.97L	12L	12.35L	10.07L	7L
Deferred Tax Liability Non Current	15.38L	14.93L	15.35L	15.24L	15.58L
Total Liabilities	41.74L	50.33L	50.18L	51.21L	46.27L
Common Stock, Total	52.32L	52.32L	52.32L	52.32L	52.32L
Retained Earnings	-24.36L	-24.32L	-	-	-
Comprehensive Income and Other	87.12L	91.49L	58.51L	60.78L	59.99L
Total Common Equity	1.15Cr	1.19Cr	1.11Cr	1.13Cr	1.12Cr
Minority Interest	1L	2L	2L	2L	1L
Total Equity	1.17Cr	1.21Cr	1.12Cr	1.15Cr	1.14Cr
Total Liabilities And Equity	1.58Cr	1.71Cr	1.63Cr	1.66Cr	1.6Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	30.6L	30.6L	30.6L	30.6L	30.6L
ECS Total Common Shares Outstanding	30.6L	30.6L	30.6L	30.6L	30.6L
Book Value / Share	3.76	3.91	3.62	3.7	3.67
Tangible Book Value	1.15Cr	1.19Cr	1.11Cr	1.13Cr	1.12Cr
Tangible Book Value Per Share	3.76	3.9	3.62	3.7	3.67
Total Debt	21.78L	30.78L	20.35L	29.2L	19.63L
Net Debt	20.7L	29.91L	18.55L	28.54L	19.4L
Minority Interest, Total (Incl. Fin. Div)	1L	2L	2L	2L	1L
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	18L	28.03L	20.85L	24.07L	21.9L
Inventories - Work In Process, Total	83.12T	70.98T	76.26T	62.1T	66.21T
Inventories - Finished Goods, Total	11.42L	12.74L	9L	10.59L	10.55L
Inventories - Others	-	-	-	-	-
Land - (BS)	1.14Cr	1.14Cr	1.14Cr	1.14Cr	1.1Cr
Machinery, Total	58.54L	58.92L	63.58L	63.74L	64.04L
Full Time Employees	42	38	36	30	33
Accumulated Allowance for Doubtful Accounts (Supple)	3L	2L	2L	2L	2L

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Net Income	2L	5.74T	-8L	2L	2L
Depreciation & Amortization - CF	3L	3L	2L	2L	2L
Depreciation & Amortization, Total	3L	3L	2L	2L	2L
Amortization of Deferred Charges, Total - (CF)	1.16T	3.12T	1.31T	789	-
(Gain) Loss From Sale Of Asset	-4T	-7.16T	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-265	-1.58T	-2.51T	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	26.5T
Provision and Write-off of Bad Debts	48.64T	-26T	25.26T	-	-
Other Operating Activities, Total	68.49T	94.23T	55.06T	99.26T	89.48T
Change In Accounts Receivable	3L	-95.3T	1L	-72.05T	-3L
Change In Inventories	3L	-11.22L	11.24L	-5L	2L
Change In Accounts Payable	-6L	98.8T	10L	-8L	-56.16T
Cash from Operations	6L	-8L	16.57L	-8L	4L
Capital Expenditure	-36.63T	-1L	-5L	-70.48T	-36.7T
Sale of Property, Plant, and Equipment	4T	7.16T	-	-	-
Cash Acquisitions	-	-	-	-	-5.09T
Sale (Purchase) of Real Estate properties	-	-	-	-	-
Sale (Purchase) of Intangible assets	-3.22T	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	2L
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-35.85T	-1L	-5L	-70.48T	2L
Long-Term Debt Issued, Total	-	-	2L	-	-
Total Debt Issued	-	-	2L	-	-
Long-Term Debt Repaid, Total	-3L	-3L	-3L	-3L	-2L
Total Debt Repaid	-3L	-3L	-3L	-3L	-2L
Other Financing Activities, Total	-11.55T	-24.93T	-22.62T	-41.94T	4L
Cash from Financing	-3L	-4L	-89.82T	-3L	1L
Net Change in Cash	2L	-12.17L	11.02L	-12.27L	7L
Supplemental Items
Cash Interest Paid	11.55T	24.93T	22.62T	41.94T	82.3T
Cash Income Tax Paid (Refund)	-	-	-	-	-
Levered Free Cash Flow	4L	-10.15L	16.49L	-10.72L	7L
Unlevered Free Cash Flow	4L	-10L	16.84L	-10.15L	7L
Change In Net Working Capital	5.26T	12.24L	-22.46L	13.47L	-4L
Net Debt Issued / Repaid	-3L	-3L	-67.2T	-3L	-2L

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Profitability
Return on Assets	0.91	0.38	-1.68	1.28	1.25
Return on Total Capital	1.06	0.44	-1.97	1.52	1.46
Return On Equity %	1.74	0.07	-7.01	1.95	1.5
Return on Common Equity	1.66	0.05	-7.09	1.93	1.5
Margin Analysis
Gross Profit Margin %	21.93	19.69	14.12	26.13	24.62
SG&A Margin	17.75	18.83	21.48	20.71	20
EBITDA Margin %	8.14	5.8	-4.6	8.69	8.13
EBITA Margin %	3.55	1.51	-7.76	5.54	5.03
EBIT Margin %	3.55	1.51	-7.76	5.54	5.03
Income From Continuing Operations Margin %	3.01	0.12	-14.18	3.64	2.66
Net Income Margin %	2.84	0.09	-14.17	3.55	2.62
Net Avail. For Common Margin %	2.84	0.09	-14.17	3.55	2.62
Normalized Net Income Margin	1.49	0.32	-5.53	2.36	2.15
Levered Free Cash Flow Margin	5.65	-15.2	28.6	-17.65	10.69
Unlevered Free Cash Flow Margin	6.15	-14.69	29.2	-16.71	11.21
Asset Turnover
Asset Turnover	0.41	0.4	0.35	0.37	0.4
Fixed Assets Turnover	0.55	0.55	0.47	0.49	0.53
Receivables Turnover (Average Receivables)	12.84	14.29	14.32	17.64	12.03
Inventory Turnover (Average Inventory)	1.64	1.49	1.38	1.37	1.42
Short Term Liquidity
Current Ratio	3.15	2.05	1.61	1.58	1.77
Quick Ratio	0.48	0.27	0.22	0.19	0.3
Operating Cash Flow to Current Liabilities	0.5	-0.33	0.74	-0.32	0.15
Days Sales Outstanding (Average Receivables)	28.43	25.54	25.48	20.75	30.33
Days Outstanding Inventory (Average Inventory)	222.6	244.23	264.3	267.26	256.4
Average Days Payable Outstanding	23.45	6.3	46.13	38.04	18.92
Cash Conversion Cycle (Average Days)	227.58	263.47	243.65	249.97	267.8
Long Term Solvency
Total Debt/Equity	18.68	25.44	18.12	25.47	17.25
Total Debt / Total Capital	15.74	20.28	15.34	20.3	14.71
LT Debt/Equity	12.84	9.92	11	8.78	6.58
Long-Term Debt / Total Capital	10.82	7.91	9.31	7	5.61
Total Liabilities / Total Assets	26.36	29.37	30.88	30.87	28.91
EBIT / Interest Expense	4.48	1.84	-8.03	3.67	6.03
EBITDA / Interest Expense	10.27	7.04	-4.76	5.76	9.75
(EBITDA - Capex) / Interest Expense	9.58	5.06	-13.12	4.99	9.07
Total Debt / EBITDA	4.01	7.95	-7.68	5.53	3.74
Net Debt / EBITDA	3.81	7.72	-7	5.4	3.7
Total Debt / (EBITDA - Capex)	4.3	11.07	-2.79	6.38	4.02
Net Debt / (EBITDA - Capex)	4.09	10.75	-2.54	6.24	3.97
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	5.17	0.01	-13.6	5.34	6.32
Gross Profit, 1 Yr. Growth %	20.13	-10.19	-38.81	94.98	0.17
EBITDA, 1 Yr. Growth %	27.17	-28.69	-168.41	-297.37	-0.62
EBITA, 1 Yr. Growth %	193.24	-57.4	-542.58	-174.81	-3.55
EBIT, 1 Yr. Growth %	193.24	-57.4	-542.58	-174.81	-3.55
Earnings From Cont. Operations, 1 Yr. Growth %	1.23T	-95.87	-9.93T	-127.01	-22.24
Net Income, 1 Yr. Growth %	1.06T	-96.97	-14.33T	-126.41	-21.66
Normalized Net Income, 1 Yr. Growth %	598.68	-78.79	-1.61T	-144.81	-3.17
Diluted EPS Before Extra, 1 Yr. Growth %	1.06T	-96.97	-14.33T	-126.41	-21.66
Accounts Receivable, 1 Yr. Growth %	-31.99	21.93	-43.1	35.87	70.53
Inventory, 1 Yr. Growth %	-9.13	37.09	-27.09	16.69	-6.18
Net Property, Plant and Equip., 1 Yr. Growth %	-2.33	0.81	2.34	-0.98	-2.96
Total Assets, 1 Yr. Growth %	-5.71	8.22	-5.15	2.06	-3.49
Tangible Book Value, 1 Yr. Growth %	2.07	3.86	-7.24	2.06	-0.7
Common Equity, 1 Yr. Growth %	2.08	3.83	-7.25	2.06	-0.7
Cash From Operations, 1 Yr. Growth %	27.75	-233.31	-316.96	-150.48	-142.76
Capital Expenditures, 1 Yr. Growth %	-84.77	198.42	326.13	-84.87	-47.92
Levered Free Cash Flow, 1 Yr. Growth %	131.34	-368.88	-262.54	-165.09	-164.36
Unlevered Free Cash Flow, 1 Yr. Growth %	107.42	-338.85	-271.8	-160.34	-171.31
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-3.86	2.56	-7.04	-4.6	5.83
Gross Profit, 2 Yr. CAGR %	5.48	3.87	-25.41	9.23	39.76
EBITDA, 2 Yr. CAGR %	47.19	-4.75	-30.16	16.75	40.05
EBITA, 2 Yr. CAGR %	47.41	11.83	37.31	82.47	-15.05
EBIT, 2 Yr. CAGR %	47.41	11.83	37.31	82.47	-15.05
Earnings From Cont. Operations, 2 Yr. CAGR %	-2.52	-25.82	101.65	415.37	-54.17
Net Income, 2 Yr. CAGR %	-5.07	-40.62	107.62	512.96	-54.51
Normalized Net Income, 2 Yr. CAGR %	-6.39	21.83	79.15	161.05	-34.13
Diluted EPS Before Extra, 2 Yr. CAGR %	-5.07	-40.63	107.62	513.08	-54.51
Accounts Receivable, 2 Yr. CAGR %	-30.72	-8.94	-16.71	-12.08	52.22
Inventory, 2 Yr. CAGR %	-1.56	11.61	-0.02	-7.76	4.63
Net Property, Plant and Equip., 2 Yr. CAGR %	-4.29	-0.78	1.57	0.67	-1.98
Total Assets, 2 Yr. CAGR %	-4.83	1.02	1.32	-1.61	-0.76
Tangible Book Value, 2 Yr. CAGR %	-1.42	2.96	-1.85	-2.7	0.67
Common Equity, 2 Yr. CAGR %	-1.4	2.95	-1.87	-2.71	0.67
Cash From Operations, 2 Yr. CAGR %	21.67	30.5	70.07	4.65	-53.54
Capital Expenditures, 2 Yr. CAGR %	-58.03	-32.59	256.6	-19.7	-71.93
Levered Free Cash Flow, 2 Yr. CAGR %	23.73	149.46	109.05	2.81	-35.28
Unlevered Free Cash Flow, 2 Yr. CAGR %	18.2	122.63	102.57	1.76	-34.41
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-6.34	-2.59	-3.14	-3.09	-1.09
Gross Profit, 3 Yr. CAGR %	-2.31	-0.02	-12.57	2.75	6.12
EBITDA, 3 Yr. CAGR %	-4.67	15.62	-14.7	-0.95	10.64
EBITA, 3 Yr. CAGR %	-6.46	-2.5	76.89	12.36	47.54
EBIT, 3 Yr. CAGR %	-6.46	-2.5	76.89	12.36	47.54
Earnings From Cont. Operations, 3 Yr. CAGR %	5.98	-66.01	278.24	3.17	174.37
Net Income, 3 Yr. CAGR %	4.59	-69.89	268.78	4.42	208.76
Normalized Net Income, 3 Yr. CAGR %	-4.52	-42.9	182.14	13.06	87.57
Diluted EPS Before Extra, 3 Yr. CAGR %	4.59	-69.89	268.79	4.42	208.8
Accounts Receivable, 3 Yr. CAGR %	-25.91	-16.35	-22.15	-1.95	9.65
Inventory, 3 Yr. CAGR %	-5.94	9.93	-3.16	5.26	-7.24
Net Property, Plant and Equip., 3 Yr. CAGR %	-3.27	-2.62	0.25	0.71	-0.56
Total Assets, 3 Yr. CAGR %	-5.02	-0.66	-1.08	1.56	-2.24
Tangible Book Value, 3 Yr. CAGR %	-1.65	0.31	-0.56	-0.56	-2.04
Common Equity, 3 Yr. CAGR %	-1.64	0.31	-0.57	-0.58	-2.04
Cash From Operations, 3 Yr. CAGR %	-17.39	25.43	54.6	13.45	-22.35
Capital Expenditures, 3 Yr. CAGR %	9.91	-19.3	24.64	24.38	-30.49
Levered Free Cash Flow, 3 Yr. CAGR %	-26.26	60.28	116.27	41.65	-12.05
Unlevered Free Cash Flow, 3 Yr. CAGR %	-25.81	49.45	104.2	35.24	-9.61
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.71	-3.31	-6.63	-3.4	0.35
Gross Profit, 5 Yr. CAGR %	26.78	14.15	-12.3	3.83	5.48
EBITDA, 5 Yr. CAGR %	18.65	28.81	-15.82	16.07	4.21
EBITA, 5 Yr. CAGR %	-18.91	-25.94	9.08	25.28	32.06
EBIT, 5 Yr. CAGR %	-18.91	-25.94	9.08	25.28	32.06
Earnings From Cont. Operations, 5 Yr. CAGR %	-27.89	-54.54	37.08	0.86	62.6
Net Income, 5 Yr. CAGR %	-28.57	-57.76	37.59	0.51	59.67
Normalized Net Income, 5 Yr. CAGR %	-31.04	-46.99	22.85	4.87	57.83
Diluted EPS Before Extra, 5 Yr. CAGR %	-28.57	-57.77	37.59	0.51	59.67
Accounts Receivable, 5 Yr. CAGR %	-15.79	-14.44	-22.36	-14.67	1.8
Inventory, 5 Yr. CAGR %	-0.86	2.89	-3.61	2.48	-0.11
Net Property, Plant and Equip., 5 Yr. CAGR %	-1.05	-0.4	-1.36	-1.32	-0.65
Total Assets, 5 Yr. CAGR %	-3.75	-0.56	-2.53	-1.04	-0.95
Tangible Book Value, 5 Yr. CAGR %	2.12	2.01	-1.73	-0.91	-0.07
Common Equity, 5 Yr. CAGR %	2.13	2.01	-1.73	-0.91	-0.08
Cash From Operations, 5 Yr. CAGR %	13.33	39.08	10.27	16.67	-4.42
Capital Expenditures, 5 Yr. CAGR %	11.56	26.47	75.99	-19.46	-31.34
Levered Free Cash Flow, 5 Yr. CAGR %	-7.71	60.55	11.88	34.2	33.46
Unlevered Free Cash Flow, 5 Yr. CAGR %	-12.39	76.1	10.89	28.16	29.63