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Harvia

43.00 EUR+0.12 %19.8, 14.58
15,135 following

HARVIA

NASDAQ Helsinki

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Consumer Goods & Services

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+0.12 %
+3.86 %
+11.83 %
+11.83 %
+0.23 %
+10.82 %
+91.11 %
-25.35 %
+760.00 %

Harvia is a manufacturer of sauna systems. The product range consists of complete solutions that include ready-made sauna and spa systems, as well as electric sauna heaters, wood-burning sauna stoves and related furnishings. In addition, the company manufactures infrared sauna systems. Operations are held on a global level, where the company's products are found through partners. The company was founded in 1950 and has its headquarters in Muurame.

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Market cap
803.85M EUR
Turnover
200.96K EUR
P/E (adj.) (26e)
24.61
EV/EBIT (adj.) (26e)
18.91
P/B (26e)
5.48
EV/S (26e)
3.82
Dividend yield-% (26e)
1.91 %
Coverage
Recommendation
Accumulate
Target price
47.00 EUR
Updated
07.08.2026
Disclaimer
Rauli Juva
Rauli Juva

Analyst

Latest research

Latest analysis report

Released: 07.08.2026

Latest extensive report

Released: 08.10.2025

Revenue and EBIT-%
EPS and dividend
Financial calendar
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Forum discussions
Here is the interview with Matias that Rauli promoted, and I’ll also add another teaser from the interview: Matias had done a “back-of-the-envelope calculation” just for fun, according to which both growth and profitability would have been in the 20% range without the Muurame IT ...
8/6/2026, 10:48 AM
by Tomi Valkeajärvi
97
I noticed earlier on Costco’s website that they have started stocking one Almost Heaven Sauna barrel sauna model directly in their stores. Previously, they only sold them through their online store. Apparently, display models are available to view in stores, and you can take one ...
8/6/2026, 5:05 PM
by Gnorts mr Alien
82
Many good points have been raised in this thread; I won’t repeat them, but I will add a couple of my own comments to the discussion. I think the strategy of creating opportunities for gradual growth right now is really smart. In other words, having systems and facilities in place...
8/6/2026, 1:14 PM
by xlat
40
Almanakkakin has been writing about Harvia I have written from the beginning that my investment thesis for Harvia is the United States. Q2 is probably the best single piece of evidence for that story. The American sauna market itself is growing at a much slower pace, so Harvia is...
8/6/2026, 2:24 PM
by Sijoittaja-alokas
29
True, but this started as early as the beginning of the year; you can find, for example, this insta clip: So, this has partly supported growth already during H1. It’s easy to see on Costco’s website that this one model is now being brought into stores, while the others are “online...
8/7/2026, 9:57 AM
by Rauli_Juva
28
Inderes’ recommendation is now ACCUMULATE with a target price of 47 euros. (Previously BUY and 44 euros.) (So, it will hopefully remain in the model portfolio longer than last time.)
8/7/2026, 4:45 AM
by Puunhalaaja
28
As a teaser before the interview is published, I’ll mention here that I included this topic, and Matias gave his typical enthusiastic and structured response. Regarding steam, it was probably already mentioned in the webinar that they believe the US steam business will return to ...
8/6/2026, 10:08 AM
by Rauli_Juva
27
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
16.10
2026

Half year dividend

29.10
2026

Interim report Q3'26

10.2
2027

Annual report '26

Regulatory press release12.08.2026, 13.00

Harvia Plc’s financial information and Annual General Meeting in 2027

Harvia
Harvia Q2'26: US-driven growth continues
Research07.08.2026, 08.39 by
Rauli Juva

Harvia Q2'26: US-driven growth continues

Harvia reported stronger-than-expected Q2 figures, driven by strong growth in North America.

Harvia
Harvia Plc, Webcast, Q2'26
Webcast06.08.2026, 10.00

Harvia Plc, Webcast, Q2'26

Harvia

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Regulatory press release06.08.2026, 08.00

Harvia’s Half-year financial review 1 January – 30 June 2026

Harvia
Harvia Q2'26 preview: Upgrades in Muurame likely to weigh temporarily on earnings
Analyst Comment04.08.2026, 08.38 by
Rauli Juva

Harvia Q2'26 preview: Upgrades in Muurame likely to weigh temporarily on earnings

The IT system upgrade at the Muurame factory weighs on the Q2 EBIT margin, pushing it to an exceptionally low 15%.

Harvia
Press release30.07.2026, 13.00

Harvia will publish its half-year report for January–June 2026 on Thursday, 6 August 2026 at around 9:00 a.m. EEST

Harvia
Press release09.06.2026, 11.00

Jyväskylä Universities and Gradia Join Forces with Harvia to Build a cutting-edge Ecosystem for Knowledge and Innovation

Harvia
Regulatory press release01.06.2026, 10.30

Harvia Plc: Managers' transactions - Castrén

Harvia
Regulatory press release01.06.2026, 10.30

Harvia Plc: Managers' transactions - Richter

Harvia
Regulatory press release01.06.2026, 10.30

Harvia Plc: Managers' transactions - Liitola

Harvia
Regulatory press release01.06.2026, 10.30

Harvia Plc: Managers' transactions - Holmén

Harvia
Regulatory press release01.06.2026, 10.30

Harvia Plc: Managers' transactions - Von Stackelberg-Hammarén

Harvia
Regulatory press release01.06.2026, 10.30

Harvia Plc: Managers' transactions - Korhonen

Harvia
Regulatory press release29.05.2026, 08.00

CHANGES IN HARVIA PLC’S OWN SHARES

Harvia
Harvia's markets and market shares are growing
Analyst Comment27.05.2026, 08.11 by
Rauli Juva

Harvia's markets and market shares are growing

We believe Harvia's target markets will continue to grow in the coming years, and the company will be able to continue gaining market share.

Harvia
Harvia Q1'26: A strong start to the year9:07
Video22.05.2026, 10.33 by
Rauli Juva, Pia Maljanen

Harvia Q1'26: A strong start to the year

Harvia's Q1 earnings exceeded our estimates, but the estimate changes for the full year remained small.

Harvia
Harvia Q1'26: Strong start to the year, temporary weakness in Q2
Research08.05.2026, 07.59 by
Rauli Juva

Harvia Q1'26: Strong start to the year, temporary weakness in Q2

We expect Harvia to continue its strong earnings growth and value creation in the coming years, which offers a good expected return.

Harvia
Harvia Plc, Webcast, Q1'26
Webcast07.05.2026, 10.00

Harvia Plc, Webcast, Q1'26

Harvia
Regulatory press release07.05.2026, 08.00

Harvia’s Interim report 1 January – 31 March 2026

Harvia
Harvia Q1'26 preview: We expect earnings to fall from the strong comparison period
Analyst Comment05.05.2026, 07.43 by
Rauli Juva

Harvia Q1'26 preview: We expect earnings to fall from the strong comparison period

We forecast adjusted EBIT to decrease to 11.4 MEUR, mainly due to a strong comparison period.

Harvia