Brief: Harvia Q2 Operating Profit Down At EUR 8.7 Million

Harvia Oyj

11/08/2022 07:22

Aug 11 (Reuters) - Harvia Oyj  HARVIA.HE :
    * HARVIA’S HALF-YEAR FINANCIAL REVIEW 1 JANUARY – 30 JUNE
2022
    * Q2 REVENUE DECREASED BY 1.7% TO EUR 46.0 MILLION (46.8)
    * Q2 OPERATING PROFIT WAS EUR 8.7 MILLION (12.9), MAKING UP
19.0%
(27.5) OF REVENUE
    * Q2 ADJUSTED OPERATING PROFIT REACHED EUR 8.8 MILLION
(13.2),
MAKING UP 19.1% (28.3) OF REVENUE
    * HARVIA DOES NOT PUBLISH A SHORT-TERM OUTLOOK
    * HARVIA'S DIVIDEND POLICY IS TO PAY A REGULARLY INCREASING
DIVIDEND WITH A BI-ANNUAL PAYOUT
    * ESTIMATES THAT DUE TO SPECIAL CIRCUMSTANCES CAUSED BY
COVID-19
PANDEMIC, SAUNA AND SPA MARKET EXPERIENCED EXCEPTIONALLY HIGH
DEMAND
    * ENDING OF ADVANCE DEMAND IS NOT EXPECTED TO HAVE AN IMPACT
ON
LONG-TERM GROWTH EXPECTATIONS OF SAUNA AND SPA MARKET, NOR ON
HARVIA'S LONG-TERM FINANCIAL TARGETS
    * TARGETS AN AVERAGE ANNUAL REVENUE GROWTH OF MORE THAN 5%,
AN
ADJUSTED OPERATING PROFIT MARGIN EXCEEDING 20% AND A NET
DEBT/ADJUSTED EBITDA BETWEEN 1.5X−2.5X IN LONG TERM

Source text for Eikon:  ID:nGNE1FG5C4 
Further company coverage:  HARVIA.HE 

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