Harju Elekter Group financial results, 1-12/2025

Core Insights - Harju Elekter achieved strong financial results in 2025, with revenue reaching 174.0 million euros, consistent with the previous year, and a significant increase in profitability, including a record operating profit of 12 million euros and net profit exceeding 10 million euros [4][6][22]. Revenue and Financial Results - In Q4 2025, revenue increased by 58.6% year-on-year, reaching 47.5 million euros, while annual revenue remained stable at 174.0 million euros, a slight decrease of 0.4% from 2024 [6][22]. - Gross profit for Q4 2025 was 5.3 million euros, nearly tripling from 1.8 million euros in Q4 2024, with an operating profit of 1.8 million euros compared to a loss of 1.7 million euros in the previous year [8][22]. - The company reported a net profit of 2.6 million euros in Q4 2025, a significant turnaround from a loss of 2.3 million euros in Q4 2024, with earnings per share increasing to 0.14 euros [9][22]. Market Performance - The Estonian market showed strong growth, with Q4 revenue of 9.2 million euros, a 73.0% increase year-on-year, and full-year revenue rising to 29.9 million euros [12]. - Norway experienced the most substantial growth in Q4, with revenue tripling to 11.1 million euros and a full-year increase of 49.1%, totaling 39.3 million euros [14]. - Finland remained the largest market despite a decline in full-year revenue to 54.7 million euros, attributed to lower sales volumes in project-based contracts [13]. Strategic Focus and Investments - The company focused on improving profitability through selective project management and enhancing operational efficiency, which contributed to the growth in profitability [2]. - Total investments during the reporting period amounted to 5.1 million euros, aimed at improving production efficiency and developing new products, including a new-generation electric vehicle charger [16][18]. Shareholder Returns - The Management Board proposed a dividend payment of 0.25 euros per share, reflecting the strong financial performance and increased order book [5].