Harvia: Back to the growth trend from Q4’23
Harvia is a leading company in its field with clear competitive advantages. This enables good ROIC and value creation, in addition to which the company's capital allocation to acquisitions has been successful. We expect revenue and earnings to start rising again from Q4’23.
Harvia is a manufacturer of sauna systems. The product range consists of complete solutions that include ready-made sauna and spa systems, as well as electric sauna heaters, wood-burning sauna stoves and related furnishings. In addition, the company manufactures infrared sauna systems. Operations are held on a global level, where the company's products are found through partners. The company was founded in 1950 and has its headquarters in Muurame.
Read more on company pageKey Estimate Figures2023-09-13
| 2022 | 23e | 24e | |
|---|---|---|---|
| Revenue | 172.4 | 151.4 | 165.3 |
| growth-% | -3.8 % | -12.2 % | 9.2 % |
| EBIT (adj.) | 36.5 | 33.2 | 37.8 |
| EBIT-% (adj.) | 21.2 % | 21.9 % | 22.9 % |
| EPS (adj.) | 1.55 | 1.23 | 1.50 |
| Dividend | 0.64 | 0.65 | 0.67 |
| Dividend % | 3.6 % | 1.6 % | 1.6 % |
| P/E (adj.) | 11.4 | 33.9 | 27.7 |
| EV/EBITDA | 9.1 | 20.6 | 17.9 |
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