Harvia

We lowered our margin estimates for 2026–27, but we find the company's long-term growth outlook unchanged.

We expect deliveries carried over from Q2 to propel the Q3 margin to 21.5%

Harvia is a leading company in its field, boasting clear competitive advantages and strong growth potential.

Harvia reported stronger-than-expected Q2 figures, driven by strong growth in North America.

The IT system upgrade at the Muurame factory weighs on the Q2 EBIT margin, pushing it to an exceptionally low 15%.