Harvia
40.3 EUR +1.26%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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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 | 161.8 | 176.2 | 188.5 | 198.8 |
growth-% | 47.3 % | 64.2 % | -3.8 % | -12.7 % | 7.5 % | 8.9 % | 6.9 % | 5.5 % |
EBITDA | 26.7 | 52.5 | 42.2 | 39.3 | 42.3 | 47.6 | 50.3 | 51.4 |
EBIT (adj.) | 24.5 | 47.4 | 36.5 | 33.7 | 36.1 | 40.2 | 44.0 | 45.7 |
EBIT | 22.4 | 46.6 | 34.7 | 33.0 | 36.1 | 40.2 | 44.0 | 45.7 |
Profit before taxes | 20.3 | 45.2 | 36.8 | 29.5 | 33.3 | 38.8 | 42.3 | 44.9 |
Net income | 15.5 | 33.7 | 27.1 | 23.3 | 25.7 | 29.8 | 32.5 | 34.5 |
EPS (adj.) | 0.94 | 1.85 | 1.55 | 1.28 | 1.37 | 1.60 | 1.74 | 1.85 |
growth-% | 73.6 % | 96.7 % | -16.4 % | -17.1 % | 7.0 % | 16.3 % | 9.1 % | 6.1 % |
Dividend | 0.51 | 0.60 | 0.64 | 0.68 | 0.72 | 0.80 | 1.05 | 1.11 |
Dividend ratio | 61.5 % | 33.1 % | 44.0 % | 54.5 % | 52.4 % | 50.0 % | 60.0 % | 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 % | 26.2 % | 27.0 % | 26.7 % | 25.8 % |
EBIT-% (adj.) | 22.4 % | 26.5 % | 21.2 % | 22.4 % | 22.3 % | 22.8 % | 23.4 % | 23.0 % |
EBIT-% | 20.5 % | 26.0 % | 20.1 % | 21.9 % | 22.3 % | 22.8 % | 23.4 % | 23.0 % |
ROE | 22.9 % | 45.8 % | 30.5 % | 22.7 % | 22.5 % | 23.2 % | 22.3 % | 21.3 % |
ROI | 19.4 % | 35.2 % | 21.8 % | 18.1 % | 19.8 % | 22.9 % | 24.0 % | 25.2 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 24.50 | 58.70 | 17.68 | 27.20 | 40.30 | 40.30 | 40.30 | 40.30 |
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 | 752.1 | 752.1 | 752.1 | 752.1 |
Enterprise value | 485.8 | 1,132.3 | 384.6 | 545.2 | 775.4 | 759.2 | 742.4 | 728.8 |
EV/S | 4.5 | 6.3 | 2.2 | 3.6 | 4.8 | 4.3 | 3.9 | 3.7 |
EV/EBITDA | 18.2 | 21.6 | 9.1 | 13.9 | 18.3 | 16.0 | 14.8 | 14.2 |
EV/EBIT (adj.) | 19.9 | 23.9 | 10.5 | 16.2 | 21.5 | 18.9 | 16.9 | 15.9 |
EV/EBIT | 21.7 | 24.3 | 11.1 | 16.5 | 21.5 | 18.9 | 16.9 | 15.9 |
P/E (adj.) | 26.0 | 31.7 | 11.4 | 21.2 | 29.3 | 25.2 | 23.1 | 21.8 |
P/E | 29.5 | 32.4 | 12.2 | 21.8 | 29.3 | 25.2 | 23.1 | 21.8 |
P/B | 6.9 | 13.5 | 3.4 | 4.7 | 6.2 | 5.5 | 4.9 | 4.4 |
P/S | 4.2 | 6.1 | 1.9 | 3.4 | 4.6 | 4.3 | 4.0 | 3.8 |
Dividend yield | 2.1 % | 1.0 % | 3.6 % | 2.5 % | 1.8 % | 2.0 % | 2.6 % | 2.8 % |
Equity ratio | 41.6 % | 41.8 % | 47.1 % | 50.7 % | 58.2 % | 66.5 % | 68.6 % | 82.5 % |
Gearing ratio | 42.2 % | 48.7 % | 55.5 % | 34.6 % | 19.2 % | 5.2 % | -6.2 % | -13.7 % |
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Quarter data
Q1/23 | Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24e | Q2/24e | Q3/24e | Q4/24e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 41.4 | 35.8 | 33.9 | 39.4 | 150.5 | 43.8 | 39.2 | 36.3 | 42.6 |
EBITDA | 10.8 | 9.3 | 8.3 | 10.9 | 39.3 | 11.9 | 10.1 | 9.0 | 11.4 |
EBIT | 9.2 | 7.8 | 6.8 | 9.2 | 33.0 | 10.4 | 8.5 | 7.4 | 9.8 |
Profit before taxes | 8.3 | 6.9 | 6.1 | 8.2 | 29.5 | 9.7 | 7.8 | 6.7 | 9.1 |
Net income | 6.3 | 5.3 | 4.5 | 7.2 | 23.3 | 7.4 | 6.0 | 5.2 | 7.0 |
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Resolutions of Harvia Plc's Annual General Meeting on 26 April 2024
Invitation to Harvia’s Capital Markets Day on 29 May 2024
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