Estonia's Harju Elekter Q3 revenue falls 4.8% on postponed projects
Estonia's Harju Elekter Q3 revenue falls 4.8% on postponed projects
Overview
Estonia electrical equipment maker's Q3 revenue fell 4.8% yr/yr to EUR 41 mln
EPS for Q3 declined 56% yr/yr to EUR 0.07
Operating margin improved to 5.7%, exceeding minimum target
Outlook
Company expects gradual improvement in profitability and order book growth in coming periods
Order intake growth driven by strong data centre sector investment and demand for power solutions
Company sees demand supported by digitalisation, AI adoption, and electrification trends
Result Drivers
PROJECT DELAYS AND LOW WORKLOAD - Co said profitability was affected by postponed projects and lower-than-expected workload, especially at the Lithuanian factory
DATA CENTRE DEMAND - Order intake growth driven by investment activity in data centre sector and demand for advanced power distribution solutions
LOWER PRODUCTION VOLUMES - Decline in gross margin attributed to lower production volumes and weaker coverage of fixed costs
Company press release: ID:nGNE8FTzYn
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| EUR 40.97 mln |
|
Q3 EPS |
| EUR 0.07 |
|
Q3 EBIT |
| EUR 2.32 mln |
|
Q3 EBITDA |
| EUR 3.49 mln |
|
Q3 Gross Profit |
| EUR 6.82 mln |
|
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(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.)