Harvia

41.80 EUR

-1.42 %

14,842 following

HARVIA

NASDAQ Helsinki

Home Products

Consumer Goods & Services

Overview

Financials & Estimates

Investor consensus

-1.42 %

+19.60 %

+6.91 %

-13.46 %

-2.45 %

-5.11 %

+117.14 %

+114.91 %

+736.00 %

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.

Market cap

781.42M EUR

Turnover

484.18K EUR

P/E (adj.) (25e)

28.1

EV/EBIT (adj.) (25e)

20.72

P/B (25e)

5.74

EV/S (25e)

4.2

Dividend yield-% (25e)

2.03 %

Coverage

Recommendation

Reduce

Target price

43.00 EUR

Updated

07.11.2025

Analyst

Latest research

Latest analysis report

Released: 07.11.2025

Latest extensive report

Released: 08.10.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar

12.2

2026

Annual report '25

15.4

2026

General meeting '26

7.5

2026

Interim report Q1'26

Risk

Business risk

Valuation risk

Low

High

All

Research

Webcasts

Press releases

ShowingAll content types

Press release11/11/2025, 8:31 AM

Harvia and Dr. Emilia Vuorisalmi launch brand ambassador and content partnership in North America

Harvia Q3'25: Broad-based growth

Research11/7/2025, 8:32 AM by

Harvia Q3'25: Broad-based growth

However, the estimates changes for the coming years remained moderate, and with the price rally, we again consider the valuation high.

Harvia Plc, Webcast, Q3'25

Webcast11/6/2025, 9:00 AM

Harvia Plc, Webcast, Q3'25

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Regulatory press release11/6/2025, 7:00 AM

Harvia’s Interim report 1 January – 30 September 2025

Harvia Q3'25 preview: We expect US growth to continue, but earnings to fall

Analyst Comment11/4/2025, 7:23 AM by

Harvia Q3'25 preview: We expect US growth to continue, but earnings to fall

We expect Harvia's organic revenue growth to have accelerated from Q2 levels, but earnings to remain below the comparison period in the seasonally weakest quarter.

Press release11/3/2025, 11:00 AM

Modular Finance IR Consensus: Harvia – Consensus estimates Q3 2025

Press release10/30/2025, 12:00 PM

Harvia will publish its Interim report for January–September 2025 on Thursday, 6 November 2025 at around 9:00 a.m. EET

Regulatory press release10/27/2025, 2:00 PM

Change in Harvia’s Management Team: Nathan Hagemeier appointed as Head of Region, North America and President of Harvia US Inc.

Regulatory press release10/17/2025, 10:00 AM

Harvia Plc distributes a dividend of EUR 0.37 per share

Harvia: A fairly priced market leader

15:44

Video10/14/2025, 12:21 PM by

Rauli Juva, Isa Hudd

Harvia: A fairly priced market leader

An extensive research report on Harvia has now been published! In this interview, analyst Rauli Juva summarizes the report.

Harvia Extensive Report: Leader in a growing market

Extensive research10/8/2025, 4:30 AM by

Harvia Extensive Report: Leader in a growing market

Harvia is a leading company in its field, boasting clear competitive advantages and strong growth potential. All of this enables good earnings growth and ROIC, as well as value creation, in addition to which the company's capital allocation to acquisitions has been successful.

Regulatory press release9/18/2025, 5:30 PM

Harvia Plc: Managers' transactions - Heiner Olbrich

Press release9/16/2025, 7:00 AM

Harvia Introduces Fenix and updated smart sauna app – Intuitive Sauna Control for a Connected Future

Regulatory press release9/8/2025, 11:30 AM

Composition of the shareholders’ nomination board of Harvia Plc

Harvia Q2’25: US a disappointment

9:02

Video8/15/2025, 7:51 AM by

Rauli Juva, Pia Maljanen

Harvia Q2’25: US a disappointment

Harvia's Q2 figures fell short of expectations, and the result also declined year-on-year, as strong growth in the US slowed down, at least temporarily.

Regulatory press release8/8/2025, 1:00 PM

Harvia Plc: Disclosure under chapter 9, section 10 of the securities market act

Harvia Q2'25: Growth slowed in the US

Research8/8/2025, 7:51 AM by

Harvia Q2'25: Growth slowed in the US

Harvia's Q2 figures fell short of expectations, and its result also declined year-on-year, as strong growth in the US slowed down, at least temporarily.

Regulatory press release8/7/2025, 10:00 AM

Harvia Plc’s financial information and Annual General Meeting in 2026

Harvia Plc, Webcast, Q2'25

Webcast8/7/2025, 8:00 AM

Harvia Plc, Webcast, Q2'25

Regulatory press release8/7/2025, 6:00 AM

Harvia’s Half-year financial review 1 January – 30 June 2025

Forum discussions

Almanakka has done an excellent piece on Harvia following Q3. Vesterinen reminds in a side comment that in more traditional sauna markets, 70-80% of Harvia’s sales are replacement demand. In the USA, this dynamic naturally doesn’t work this way yet, because most people are only buying...

11/8/2025, 8:46 AM

by Sijoittaja-alokas

44

Especially concerning North American sales - an influential man recently published a video about the effect of sauna on his overall health, meaning we are in the midst of wellness megatrends in this case too. This is American entrepreneur Bryan Johnson, who titles himself “the most...

11/7/2025, 6:57 PM

by Hèliot

34

I have to be satisfied once again with Harvia’s performance. The company is in good shape all around, profitability is excellent for this industry, and profitability has remained good despite investments in longer-term growth. It’s quite a remarkable achievement that good results...

11/8/2025, 3:16 PM

by xlat

23

11/11/2025, 9:09 AM

by KuHa

22

Harvia continues to emphasize the health benefits of sauna in North America with a new collaboration. Nothing new or revolutionary is likely to be revealed. https://www.inderes.fi/releases/harvia-ja-laakari-emilia-vuorisalmi-aloittavat-brandilahettilas-ja-sisaltoyhteistyon-pohjois...

11/11/2025, 8:44 AM

by kimsku

17

Well, there hasn’t been a separate announcement about it, and probably won’t be, but it has been discussed on several occasions in connection with the results. Last year, land was purchased, and construction is already underway this year. It’s also mentioned in the Q3 report.

6 hours ago

by Rauli_Juva

11

Hopefully, people in the US don’t generally sauna in that style, because the sauna experience might be a bit lacking. So, in the video, Bryan saunas with clothes on, and a cold pack in his pants and on his scalp. Every day for 20 minutes at a time in a dry 93C sauna right after a...

11/8/2025, 9:04 AM

by Makee

8

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