Harvia's Half-year financial review 1 January – 30 June 2025
Harvia Plc, Half-year financial review 7 August 2025 at 9:00 a.m. EEST
Harvia Q2 2025: Continued sales growth in uncertain market conditions
This release is a summary of Harvia Plc's Half-year financial review January–June 2025. The complete report is attached to this release as a pdf file. It is also available on Harvia's website at https://harviagroup.com/.
Highlights of the review period
April–June 2025:
Revenue increased by 9.4% to EUR 47.3 million (43.2). At comparable exchange rates, revenue increased by 12.2% to EUR 48.4 million. Organic revenue growth was 2.4%.
Operating profit was EUR 7.6 million (8.9), making up 16.1% (20.7%) of the revenue. Operating profit was negatively impacted by the growth of employee expenses and other operating expenses, a one-off inventory adjustment and weakening of the U.S. dollar.
Adjusted operating profit was EUR 8.2 million (9.4), making up 17.3% (21.8%) of the revenue. At comparable exchange rates, the adjusted operating profit was EUR 8.7 million (17.9% of the revenue).
Operating free cash flow amounted to EUR 3.9 million (5.5) and cash conversion was 39.4% (50.0%)
January–June 2025:
Revenue increased by 16.0% to EUR 99.2 million (85.5). At comparable exchange rates, revenue increased by 16.7% to EUR 99.8 million. Organic revenue growth was 8.2%.
Operating profit was EUR 19.5 million (18.8), making up 19.7% (22.0%) of the revenue.
Adjusted operating profit was EUR 20.1 million (19.5), making up 20.2% (22.8%) of the revenue. At comparable exchange rates, the adjusted operating profit was EUR 20.5 million (20.5% of the revenue).
Operating free cash flow amounted to EUR 14.1 million (16.6) and cash conversion was 59.4% (73.2%).
Net debt amounted to EUR 57.9 million (32.6), and leverage, calculated as net debt divided by last 12 months' adjusted EBITDA, was 1.3 (0.8).
Equity ratio was 43.6% (49.8%).
Earnings per share were EUR 0.68 (0.71).
Key figures
EUR million
4-6/2025
4-6/2024
Change %
1-6/2025
1-6/2024
Change %
1-12/2024
Revenue
47.3
43.2
9.4%
99.2
85.5
16.0%
175.2
EBITDA
9.4
10.5
-11.0%
23.2
22.0
5.4%
42.4
% of revenue
19.8%
24.4%
23.4%
25.7%
24.2%
Items affecting comparability *
0.5
0.5
8.0%
0.6
0.7
-23.4%
1.6
Adjusted EBITDA **
9.9
11.0
-10.2%
23.7
22.7
4.4%
44.1
% of revenue
21.0%
25.6%
23.9%
26.6%
25.1%
Operating profit
7.6
8.9
-14.6%
19.5
18.8
4.0%
35.5
