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Harvia Oyj
OTC:HRVFF

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Harvia Oyj
OTC:HRVFF
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Price: 50.38 USD 0.22% Market Closed
Market Cap: 941.6m USD

Harvia Oyj
Investor Relations

Harvia Oyj engages in the manufacture of sauna and spa products. The company is headquartered in Muurame, Lansi-Suomen and currently employs 824 full-time employees. The company went IPO on 2018-03-22. Its product and service offering is divided into five groups: sauna heaters, sauna rooms, control units, steam generators and spare parts, services and other products. Heaters comprise products for small, family and commercial saunas. Sauna rooms include infrared and steam rooms. Other products are comprised of spa modules, digital control units and various sauna accessories suitable for different sauna and spa cultures. Additionally, the Company offers a range of interior solutions from panelling boards to speakers and lighting. Harvia Oyj operates in China, Estonia, Finland and Russia. Its primary markets consist of Finland, Germany, Russia, Sweden and the United States. Clients mainly consist of retailers and wholesale customers, who sell products to builders and end customers.

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Last Earnings Call
Fiscal Period
Q1 2025
Call Date
May 7, 2025
AI Summary
Q1 2025

Record Revenue: Q1 revenue reached EUR 52 million, up 22.7% year-on-year, marking an all-time high for the company.

North America Growth: North America was the main growth engine, with revenues up nearly 60% and now making up 42% of group revenues.

Strong Profitability: Adjusted operating profit rose to EUR 11.9 million, 22.9% of revenue, supported by strong operational performance and pricing actions.

ThermaSol Acquisition: ThermaSol contributed significantly to growth, especially in steam products (over 300% growth), and synergy realization is ahead of schedule.

Cash Flow & Leverage: Cash conversion remained strong at 74%; net debt decreased to EUR 51 million, and leverage is well below target at 1.1.

Strategic Investments: Continued investments in operations, IT, and innovation, with new product launches supporting top line.

Market Resilience: Despite global uncertainty and weak consumer confidence, sauna demand and long-term market prospects remain robust.

No Short-Term Guidance: Harvia does not provide short-term guidance but maintains a positive outlook for long-term growth.

Key Financials
Revenue
EUR 52 million
Organic Revenue Growth
14%
Revenue Growth at Comparable Exchange Rate
21%
Adjusted Operating Profit
EUR 11.9 million
Adjusted Operating Profit Margin
22.9%
Cash Conversion
74%
Operating Free Cash Flow
EUR 10 million
Net Debt
EUR 51 million
Leverage
1.1
Equity Ratio
48%
Gross Margin
66.3%
Basic EPS
up 12%
Number of Employees
almost 730
Earnings Call Recording
Other Earnings Calls

Management

Mr. Matias Jarnefelt
Chairman of the Management Board & CEO
No Bio Available
Mr. Ari Vesterinen
CFO, Secretary & Member of Management Board
No Bio Available
Mr. David Ahonen
Head of Region Asia-Pacific-MEA & Member of Management Board
No Bio Available
Mr. Timo Harvia
Head of Innovation & Technology and Member of the Management Board
No Bio Available
Mr. Anssi Pelkonen
Head of Northern Europe Region & Member of Management Board
No Bio Available
Mr. Mika Suoja
Head of Operations & Member of Management Board
No Bio Available
Ms. Paivi Juolahti M.Sc.
Head of Marketing & Brands and Member of Management Board
No Bio Available
Mr. Markus Wormanseder
Head of Region Continental Europe and Products and Solutions & Member of Management Board
No Bio Available
Ms. Jennifer Thayer
Head of Region, North America & Member of Management Board
No Bio Available
Mr. Thomas Hjalmeby
Sales Director of Scandinavia & Member of Management Board
No Bio Available

Contacts

Address
LANSI-SUOMEN
Muurame
Pl 12, Teollisuustie 1-7
Contacts
+358207464000.0
harviagroup.com