Estonia's Harju Elekter Q2 revenue falls on lower volumes
Estonia's Harju Elekter Q2 revenue falls on lower volumes
Overview
Estonia electrical equipment maker's Q2 revenue fell 8.6% yr/yr amid lower sales volumes
Q2 EPS declined 92.9% yr/yr as profitability weakened
Company cites deferred revenue and higher costs from investments as main factors for lower results
Outlook
Company says 2026 is a transition period, preparing for next peak periods
Order book for H2 2026 is stronger than in H1, supporting future revenue growth
Company expects gradual improvement in market conditions and profitability in coming years
Result Drivers
PROJECT TIMING AND SALES MIX - Co said revenue decline was mainly due to timing of project-based deliveries and a higher share of E-house projects, which have longer execution cycles
HIGHER COST BASE - Profitability was affected by increased selling and administrative expenses, reflecting investments in sales capabilities, production capacity, and organizational development
RETAINED WORKFORCE - Labour costs rose as the Group deliberately retained its workforce and production capacity in anticipation of a recovery in demand while revenue declined
Company press release: ID:nGNE13Whbp
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| EUR 42.11 mln |
|
Q2 EPS |
| EUR 0.01 |
|
Q2 EBIT |
| EUR 1.11 mln |
|
Q2 EBITDA |
| EUR 2.27 mln |
|
Q2 Gross Profit |
| EUR 5.13 mln |
|
Reuters Recommended Reads
July 22 - Germany's Friedrich Vorwerk H1 EBITDA jumps on strong order intake, raises 2026 EBITDA outlook
July 21 - Sweden's Eltel Q2 profitability improves on strength in key markets
July 21 - Swedish lighting group Fagerhult's Q2 sales beat estimates
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)