Brief: Harvia Q1 Adj. Oper Profit Up At EUR 11.1 Mln

Harvia Oyj

05/05/2021 07:21

May 5 (Reuters) - Harvia Oyj  HARVIA.HE :
    * Q1 OPERATING PROFIT ROSE TO 11 MILLION EUR
    * Q1 REVENUE INCREASED BY 94.6% TO EUR 39.6 MILLION (20.4)
    * Q1 ADJUSTED OPERATING PROFIT INCREASED TO EUR 11.1 MILLION
(4.2), MAKING UP 28.1% (20.6) OF REVENUE
    * Q1 OPERATING PROFIT WAS EUR 11.0 MILLION (3.1), MAKING UP
27.9%
(15.3) OF REVENUE.
    * COMPANY TARGETS AN AVERAGE ANNUAL REVENUE GROWTH OF MORE
THAN
5%, AN ADJUSTED OPERATING PROFIT MARGIN OF 20% AND A NET
DEBT/ADJUSTED EBITDA BETWEEN 1.5X−2.5X IN LONG TERM
    * ESTIMATES THAT DUE TO SPECIAL CIRCUMSTANCES CAUSED BY
COVID-19
PANDEMIC, SAUNA AND SPA MARKET HAS EXPERIENCED EXCEPTIONALLY
HIGH DEMAND
    * HARVIA DOES NOT PUBLISH A SHORT-TERM OUTLOOK.
    * TARGETS A REGULARLY INCREASING DIVIDEND WITH A BI-ANNUAL
DIVIDEND PAYOUT OF AT LEAST 60% OF GROUP NET INCOME, IN TOTAL.

Source text for Eikon:  ID:nGNE4bx6Rv 
Further company coverage:  HARVIA.HE 

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