Harvia
36.8 EUR -1.21%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.
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Financial calendar
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 |
---|---|---|
Rainer Kunz | 23.02.2024 | 454,674EUR |
David Ahonen | 09.02.2024 | 50,822EUR |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 109.1 | 179.1 | 172.4 | 150.5 | 160.9 | 176.0 | 191.3 | 203.8 |
growth-% | 47.3 % | 64.2 % | -3.8 % | -12.7 % | 6.9 % | 9.4 % | 8.7 % | 6.5 % |
EBITDA | 26.7 | 52.5 | 42.2 | 39.3 | 42.4 | 47.2 | 51.6 | 55.4 |
EBIT (adj.) | 24.5 | 47.4 | 36.5 | 33.7 | 36.4 | 40.9 | 45.4 | 49.1 |
EBIT | 22.4 | 46.6 | 34.7 | 33.0 | 36.2 | 40.9 | 45.4 | 49.1 |
Profit before taxes | 20.3 | 45.2 | 36.8 | 29.5 | 34.0 | 39.4 | 43.9 | 48.2 |
Net income | 15.5 | 33.7 | 27.1 | 23.3 | 26.1 | 30.4 | 33.8 | 37.1 |
EPS (adj.) | 0.94 | 1.85 | 1.55 | 1.28 | 1.41 | 1.63 | 1.81 | 1.99 |
growth-% | 73.6 % | 96.7 % | -16.4 % | -17.1 % | 9.8 % | 15.3 % | 11.3 % | 9.8 % |
Dividend | 0.51 | 0.60 | 0.64 | 0.68 | 0.72 | 0.80 | 1.00 | 1.19 |
Dividend ratio | 61.5 % | 33.1 % | 44.0 % | 54.5 % | 51.4 % | 49.2 % | 55.2 % | 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 % | 26.4 % | 26.8 % | 27.0 % | 27.2 % |
EBIT-% (adj.) | 22.4 % | 26.5 % | 21.2 % | 22.4 % | 22.6 % | 23.2 % | 23.7 % | 24.1 % |
EBIT-% | 20.5 % | 26.0 % | 20.1 % | 21.9 % | 22.5 % | 23.2 % | 23.7 % | 24.1 % |
ROE | 22.9 % | 45.8 % | 30.5 % | 22.7 % | 22.9 % | 23.5 % | 22.9 % | 22.4 % |
ROI | 19.4 % | 35.2 % | 21.8 % | 18.1 % | 19.9 % | 23.1 % | 24.5 % | 26.5 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 24.50 | 58.70 | 17.68 | 27.20 | 36.80 | 36.80 | 36.80 | 36.80 |
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 | 507.6 | 686.8 | 686.8 | 686.8 | 686.8 |
Enterprise value | 485.8 | 1,132.3 | 384.6 | 545.2 | 710.4 | 695.4 | 678.7 | 662.3 |
EV/S | 4.5 | 6.3 | 2.2 | 3.6 | 4.4 | 4.0 | 3.5 | 3.3 |
EV/EBITDA | 18.2 | 21.6 | 9.1 | 13.9 | 16.7 | 14.7 | 13.2 | 12.0 |
EV/EBIT (adj.) | 19.9 | 23.9 | 10.5 | 16.2 | 19.5 | 17.0 | 15.0 | 13.5 |
EV/EBIT | 21.7 | 24.3 | 11.1 | 16.5 | 19.6 | 17.0 | 15.0 | 13.5 |
P/E (adj.) | 26.0 | 31.7 | 11.4 | 21.2 | 26.1 | 22.6 | 20.3 | 18.5 |
P/E | 29.5 | 32.4 | 12.2 | 21.8 | 26.3 | 22.6 | 20.3 | 18.5 |
P/B | 6.9 | 13.5 | 3.4 | 4.7 | 5.7 | 5.0 | 4.4 | 3.9 |
P/S | 4.2 | 6.1 | 1.9 | 3.4 | 4.3 | 3.9 | 3.6 | 3.4 |
Dividend yield | 2.1 % | 1.0 % | 3.6 % | 2.5 % | 2.0 % | 2.2 % | 2.7 % | 3.2 % |
Equity ratio | 41.6 % | 41.8 % | 47.1 % | 50.7 % | 58.3 % | 66.7 % | 68.8 % | 82.7 % |
Gearing ratio | 42.2 % | 48.7 % | 55.5 % | 34.6 % | 19.3 % | 6.2 % | -5.1 % | -13.9 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 35.8 | 33.9 | 39.4 | 150.5 | 42.4 | 39.7 | 36.3 | 42.6 | 160.9 |
EBITDA | 9.3 | 8.3 | 10.9 | 39.3 | 11.5 | 10.2 | 9.2 | 11.6 | 42.4 |
EBIT | 7.8 | 6.8 | 9.2 | 33.0 | 9.9 | 8.7 | 7.6 | 10.0 | 36.2 |
Profit before taxes | 6.9 | 6.1 | 8.2 | 29.5 | 9.8 | 8.0 | 6.9 | 9.3 | 34.0 |
Net income | 5.3 | 4.5 | 7.2 | 23.3 | 7.5 | 6.1 | 5.3 | 7.2 | 26.1 |
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![Consumer Goods Companies as Investments | Consumer Goods Night June 11, 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/3b354886-868b-464c-a3b9-efef95fd766b.png)
Consumer Goods Companies as Investments | Consumer Goods Night June 11, 2024
Harvia Plc: Managers' transactions - Anssi Pelkonen
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Harvia Plc: Managers' transactions - Ari Vesterinen
Harvia Plc: Managers' transactions - David Ahonen
Harvia Plc: Managers' transactions - Timo Harvia
Harvia Plc: Managers' transactions - Mika Suoja
Harvia Plc: Managers' transactions - Päivi Juolahti
Harvia Plc: Managers' transactions - Markus Wörmanseder
TRANSFER OF HARVIA’S OWN SHARES AS REWARDS UNDER THE INCENTIVE PROGRAM
![Harvia CMD | CEO's review 29.5.2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/0eaa809d-285e-483f-a9a8-994a2dd13e5d.png)
Harvia CMD | CEO's review 29.5.2024
Change in Harvia’s Management Team: Philipp Krauth appointed as Managing Director of EOS Group and Head of EOS Brand and Products
![Harvia: First ever CMD](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/0a01de7c-c0e4-4e01-b1a9-b8786be2a837.png)
Harvia: First ever CMD
Harvia CMD: Updated strategy and targets largely in line with our expectations
![Harvia Capital Markets Day 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/ebfef49a-04e9-4d16-9676-3b9ff4ff6ad9.png)
Harvia Capital Markets Day 2024
Harvia updates its strategy and long-term financial targets
Harvia CMD on Wednesday - focus on updating financial targets
Eyes turn to CMD
![Harvia Plc, Q1, 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/3ba5b467-ba4c-4e7d-ad6c-b81218d8019a.png)