Brief: Harvia Q3 Adjusted Operating Profit Falls To EUR 7.6 Mln

Harvia Oyj

03/11/2022 07:14

Nov 3 (Reuters) - Harvia Oyj  HARVIA.HE :
    * REG-HARVIA’S INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2022
    * Q3 REVENUE EUR 37.4 MILLION VERSUS EUR 46.2 MILLION YEAR
AGO
    * Q3 ADJUSTED. OPERATING PROFIT EUR 7.6 MILLION VERSUS EUR
11.8
MILLION YEAR AGO
    * HARVIA 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
    * COMPANY'S MANAGEMENT ESTIMATES THAT DUE TO SPECIAL
CIRCUMSTANCES
CAUSED BY COVID-19 PANDEMIC, SAUNA AND SPA MARKET EXPERIENCED
EXCEPTIONALLY HIGH DEMAND
    * ENDING OF ADVANCE DEMAND IN FIRST HALF OF 2022 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
    * HARVIA DOES NOT PUBLISH A SHORT-TERM OUTLOOK

Source text for Eikon:  ID:nGNE5bR2Sk 
Further company coverage:  HARVIA.HE 
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