Harvia PLC (FRA:G1U)

€ 43.3 1.15 (2.73%) Market Cap: 805.07 Mil Enterprise Value: 868.11 Mil PE Ratio: 31.05 PB Ratio: 7.05 GF Score: 80/100

Q2 2022 Harvia Oyj Earnings Call Transcript

Aug 11, 2022 / 08:00AM GMT

Release Date Price: €19.93 (-0.35%)

Transcript

Tapio Pajuharju

Harvia Oyj - CEO

Hello, and welcome on board on Harvia First Half Review. My name is Tapio Pajuharju, I'm the CEO of the company. And next to me, we have Ari Vesterinen, our CFO.

I think I will share our view of the past, maybe share a bit about the future as well. And I think Harvia has been gaining market share in all of the markets. On the other hand, I think the impacts of the Ukraine war and also the fading away impact of the advanced demand had an impact on our top line and bottom line, and I'd add deeper on that one. Not our best quarter, on the other hand, it's good to remember that we were fighting against our all-time high quarter in that respect.

Popularity of sauna continues to increase. Sauna penetration is growing in all of the markets. I think we're facing more challenges than we expected on the Q2. And some of those do continue going forward, but I'd add deeper on that one. Most of you remember that Harvia had a business of 6.5%, slightly ahead of EUR 11 million in Russia. That has been now impacted both directly and indirectly and then declining sales

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