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Harvia
43.2
EUR
-1.71 %
HARVIA
NASDAQ Helsinki
Home Products
Consumer Goods & Services
14,813 following
harviagroup.com/investor-relations
Harvia is a manufacturer of sauna systems. The product range consists of complete solutions that include ready-made sauna and spa facilities, as well as electric sauna heaters, wood-fired sauna stoves, and associated furnishings. In addition, the company manufactures infrared sauna systems. Harvia operates worldwide, and the company's products are found via partners. The company was founded in 1950 and is headquartered in Muurame.
P/E (adj.) (24e)
29.5
EV/EBIT (adj.) (24e)
22.22
P/B (24e)
6.68
Dividend yield-% (24e)
1.67 %
Target price
40.00 EUR
Recommendation
Sell
Updated
8.11.2024
NASDAQ Helsinki
HARVIA
Daily low / high price
43.2 / 44.55
EUR
Market cap
807.59M EUR
Turnover
624.01K EUR
Volume
14K
Business risk
Valuation risk
Current
Previous
Latest research
Extensive report
Inderes' extensive report is an investor's handbook on customer companies covered by our research.
The latest extensive report was released
Read the reportAnalyst
Rauli Juva
Analyst
Latest videos
Financial calendar
Annual report
13.02.2025
General meeting
08.04.2025
Interim report
07.05.2025
Interim report
07.08.2025
Interim report
06.11.2025
Major OwnersSource: Millistream Market Data AB
| Owner | Capital | Votes |
|---|---|---|
| Onvest Oy | 4.4 % | 4.4 % |
| WestStar Oy | 3.1 % | 3.1 % |
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Insider Transactions
| Insider | Date | Total value |
|---|---|---|
| David Ahonen | 19.09.2024 | 5,991EUR |
| David Ahonen | 19.09.2024 | 672EUR |
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Forum updates
Somejulkkis puhuu saunasta vieraansa kanssa
11/13/2024, 5:05 PM💙 17
Aika hurjalta näyttää myös almost heaven saunasin osalta.
21 hours ago💙 14
Income statement
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 109.1 | 179.1 | 172.4 | 150.5 | 171.1 | 199.6 | 218.5 | 238.5 |
| growth-% | 47.3 % | 64.2 % | -3.8 % | -12.7 % | 13.7 % | 16.6 % | 9.5 % | 9.1 % |
| EBITDA | 26.7 | 52.5 | 42.2 | 39.3 | 43.8 | 51.9 | 59.2 | 66.1 |
| EBIT (adj.) | 24.5 | 47.4 | 36.5 | 33.7 | 38.7 | 45.5 | 52.2 | 58.5 |
| EBIT | 22.4 | 46.6 | 34.7 | 33.0 | 37.1 | 45.0 | 51.9 | 58.5 |
| Profit before taxes | 20.3 | 45.2 | 36.8 | 29.5 | 33.4 | 42.1 | 49.4 | 57.1 |
| Net income | 15.5 | 33.7 | 27.1 | 23.3 | 25.7 | 32.4 | 38.0 | 44.0 |
| EPS (adj.) | 0.94 | 1.85 | 1.55 | 1.28 | 1.46 | 1.76 | 2.05 | 2.36 |
| growth-% | 73.6 % | 96.7 % | -16.4 % | -17.1 % | 14.0 % | 20.3 % | 16.6 % | 14.6 % |
| Dividend | 0.51 | 0.60 | 0.64 | 0.68 | 0.72 | 0.80 | 1.00 | 1.41 |
| Dividend ratio | 61.5 % | 33.1 % | 44.0 % | 54.5 % | 52.2 % | 46.1 % | 49.1 % | 60.0 % |
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Profitability and return on capital
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| EBITDA-% | 24.5 % | 29.3 % | 24.5 % | 26.1 % | 25.6 % | 26.0 % | 27.1 % | 27.7 % |
| EBIT-% (adj.) | 22.4 % | 26.5 % | 21.2 % | 22.4 % | 22.6 % | 22.8 % | 23.9 % | 24.5 % |
| EBIT-% | 20.5 % | 26.0 % | 20.1 % | 21.9 % | 21.7 % | 22.6 % | 23.7 % | 24.5 % |
| ROE | 22.9 % | 45.8 % | 30.5 % | 22.7 % | 22.6 % | 24.9 % | 25.2 % | 25.1 % |
| ROI | 19.4 % | 35.2 % | 21.8 % | 18.1 % | 18.4 % | 21.7 % | 26.0 % | 28.6 % |
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Valuation
| 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
|---|---|---|---|---|---|---|---|---|
| Share price (EUR) | 24.50 | 58.70 | 17.68 | 25.48 | 43.20 | 43.20 | 43.20 | 43.20 |
| Shares | 18.6 | 18.6 | 18.7 | 18.7 | 18.7 | 18.7 | 18.7 | 18.7 |
| Market cap | 456.8 | 1,091.4 | 330.0 | 475.5 | 806.2 | 806.2 | 806.2 | 806.2 |
| Enterprise value | 485.8 | 1,132.3 | 384.6 | 513.1 | 858.9 | 845.5 | 824.6 | 803.4 |
| EV/S | 4.5 | 6.3 | 2.2 | 3.4 | 5.0 | 4.2 | 3.8 | 3.4 |
| EV/EBITDA | 18.2 | 21.6 | 9.1 | 13.1 | 19.6 | 16.3 | 13.9 | 12.2 |
| EV/EBIT (adj.) | 19.9 | 23.9 | 10.5 | 15.2 | 22.2 | 18.6 | 15.8 | 13.7 |
| EV/EBIT | 21.7 | 24.3 | 11.1 | 15.5 | 23.2 | 18.8 | 15.9 | 13.7 |
| P/E (adj.) | 26.0 | 31.7 | 11.4 | 19.8 | 29.5 | 24.5 | 21.0 | 18.3 |
| P/E | 29.5 | 32.4 | 12.2 | 20.4 | 31.3 | 24.9 | 21.2 | 18.3 |
| P/B | 6.9 | 13.5 | 3.4 | 4.4 | 6.7 | 5.8 | 5.0 | 4.3 |
| P/S | 4.2 | 6.1 | 1.9 | 3.2 | 4.7 | 4.0 | 3.7 | 3.4 |
| Dividend yield | 2.1 % | 1.0 % | 3.6 % | 2.7 % | 1.7 % | 1.8 % | 2.3 % | 3.3 % |
| Equity ratio | 41.6 % | 41.8 % | 47.1 % | 50.7 % | 48.8 % | 60.1 % | 68.1 % | 75.8 % |
| Gearing ratio | 42.2 % | 48.7 % | 55.5 % | 34.6 % | 43.3 % | 27.9 % | 11.2 % | -1.5 % |
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Quarter data
| Q4/23 | 2023 | Q1/24 | Q2/24 | Q3/24 | Q4/24e | 2024e | Q1/25e | Q2/25e | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 39.4 | 150.5 | 42.4 | 43.2 | 38.7 | 46.9 | 171.1 | ||
| EBITDA | 10.9 | 39.3 | 11.5 | 10.5 | 10.1 | 11.8 | 43.8 | ||
| EBIT | 9.2 | 33.0 | 9.9 | 8.9 | 8.3 | 10.0 | 37.1 | ||
| Profit before taxes | 8.2 | 29.5 | 9.8 | 7.8 | 6.8 | 9.0 | 33.4 | ||
| Net income | 7.2 | 23.3 | 7.5 | 5.9 | 5.5 | 6.9 | 25.7 |
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Harvia Q3'24: Efficiency at work
Harvia Plc, Q3'24
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Harvia’s Interim report 1 January – 30 September 2024
Harvia Q3'24 preview: Acquisition boosts growth
Harvia will publish its Interim Report for January−September 2024 on Thursday, 7 November 2024 at around 9:00 a.m. EET
Harvia Plc distributes a dividend of EUR 0.34 per share
Heat up the sauna with solar energy – Kirami's new collection is the star of modern outdoor saunas
Harvia: Good company with a high valuation
Value Creators: Harvia
Harvia extensive report: Value creation in line with targets for the coming years
Harvia Plc: Managers' transactions - David Ahonen
Harvia Plc: Managers' transactions - David Ahonen
Harvia Plc: Managers' transactions - Timo Harvia
Harvia Plc's financial information and Annual General Meeting in 2025
Composition of the shareholders’ nomination board of Harvia Plc
Harvia Q2’24: The growth-heat is on!
Harvia Q2'24: Full steam ahead for growth
