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Extensive research

Harvia: Back to the growth trend from Q4’23

By Rauli JuvaAnalyst
Harvia
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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 page

Key Estimate Figures2023-09-13

202223e24e
Revenue172.4151.4165.3
growth-%-3.8 %-12.2 %9.2 %
EBIT (adj.)36.533.237.8
EBIT-% (adj.)21.2 %21.9 %22.9 %
EPS (adj.)1.551.231.50
Dividend0.640.650.67
Dividend %3.6 %1.6 %1.6 %
P/E (adj.)11.433.427.3
EV/EBITDA9.120.317.6

Forum discussions

A block trade of over 7 million euros was executed in Harvia shares today. 170,000 shares changed hands. Tärkeimmät talousuutiset | Kauppalehti...
1/28/2026, 11:52 AM
by Onnenpoika
20
The most important amenities of New York luxury apartments according to a Serhant agent. “Cold plunges and saunas”
1/26/2026, 6:42 PM
by Jussi_P
38
Almanakka selected Harvia as this year’s winning stock. Sijoitustieto.fi Sijoitusgurujen osakevalinnat vuodelle 2026 Sijoitustieto kysyi vuoden...
1/14/2026, 6:57 PM
42
The development of search volumes for Almost Heaven Saunas and Harvia looks quite wild according to Google Trends. Looks promising😁
1/4/2026, 10:33 AM
by Gnorts mr Alien
40
These don’t have an impact on the investment case, but it’s nice to follow along over coffee. That was already a significant addition. Harvia...
1/3/2026, 1:23 PM
by Svenanders757
18
There are very few products for which a cheaper alternative doesn’t exist, yet companies manufacturing high-end gadgets still make a profit ...
1/3/2026, 11:07 AM
18
Apu360 – 30 Dec 25 Saksalainen Birte halusi suomalaisen saunan, mutta hinta ratkaisi – Saksassa... Suomalaista saunaa arvostetaan maailmalla...
1/3/2026, 7:51 AM
by Jorelyytikko
7
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