According to preliminary data, the stove company Harvia has continued to grow in the second quarter of the year.
Anthill As a preliminary announcement, the stove company Harvia says that demand for its products has been exceptionally strong in the second quarter. According to the company, profitability has also been better than expected.
According to preliminary calculations, the company’s net sales in the second quarter were EUR 46.8 million, which means an increase of 83 percent from the comparison period a year ago. In the first half of the year, net sales increased by 88 percent compared to January – June 2020.
The company’s adjusted operating profit increased to EUR 13.2 million from EUR 5.4 million in the corresponding period last year.
According to the company, the first and fourth quarters are traditionally the strongest in the seasonal sauna and spa business.
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The company according to demand has been strong in almost all of its main markets. It says it has been able to deliver the ordered products despite the difficulties in accessing key raw materials and components.
The company estimates that the challenging situation caused by rising prices and exceptional instability in the availability of raw materials and components will continue for at least the rest of the year.
According to Harvia, the awareness, popularity and use of the sauna have increased during the pandemic in several markets, which has strengthened demand.
However, the company’s management estimates that part of this growth has been due to so-called early demand and will not affect the long-term growth expectations of the sauna and spa market or Harvia’s long-term goals.
Masonic company has been under a severe blow during the corona year. In mid-March last year, when the interest rate pandemic struck, the company’s share price was less than eight euros.
When the Helsinki Stock Exchange opened on Friday, the share price was over 54 euros.
In the first quarter, Harvia’s net sales almost doubled year-on-year and operating profit more than tripled.
According to preliminary data, in the first half of the year, its net sales increased by 88 per cent to EUR 86.4 million and adjusted operating profit increased from EUR 9.6 million in the comparison period to EUR 24.4 million.
Already last year, the company’s turnover increased to EUR 109 million from EUR 74 million in the previous year.
Adjusted operating profit, on the other hand, increased by more than 76 per cent last year to EUR 24.4 million.