Finland's Harvia Q4 revenue rises on solid North American demand for heating equipment

Harvia Oyj

12/02/2026 07:10

Overview

Finland sauna maker's Q4 revenue rose 5.3% y/y, but missed analyst expectations

Adjusted EBITDA for Q4 missed analyst expectations

Company introduced MyHarvia Smart Sauna Sensor, enhancing digital offerings

Outlook

Harvia targets average annual revenue growth of 10%

Company aims for adjusted operating profit margin exceeding 20%

Harvia plans to maintain net debt/adjusted EBITDA below 2.5x

Result Drivers

NORTH AMERICA DEMAND - Strong demand in North America, especially for heating equipment, contributed to revenue growth

EUROPEAN MARKET IMPROVEMENT - Gradual improvement in the European sauna market, with Northern Europe as the fastest-growing region

INNOVATION INVESTMENTS - Investments in production facilities and innovation, including MyHarvia Smart Sauna Sensor, supported growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
EUR 53.70 mln
EUR 55.72 mln (5 Analysts)
Q4 Adjusted EBITDA
Miss
EUR 12.40 mln
EUR 13.56 mln (5 Analysts)
Q4 Adjusted EBIT
EUR 10.50 mln
Q4 Basic EPS
EUR 0.40
Q4 EBITDA
EUR 12.30 mln
Q4 Free Cash Flow
EUR 13.30 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the electrical components & equipment peer group is "buy."

Wall Street's median 12-month price target for Harvia Oyj is €44.00, about 10.8% above its February 11 closing price of €39.70

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 22 three months ago

Press Release: ID:nGNE9TyQlK

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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.)