Harvia Plc, Stock Exchange Release, February 18, 2026 at 10:00 am The Board of Directors of Harvia Plc has on the basis of the authorization given by the Annual General Meeting dated 8 April 2025,... Read More ...

Core Viewpoint - Harvia Plc has decided to initiate a share repurchase program as part of its incentive plan, authorized by the Annual General Meeting held on April 8, 2025, with a maximum of 17,000 shares to be repurchased, representing 0.09% of total shares, for a maximum expenditure of EUR 765,000 [1] Group 1: Share Repurchase Details - The Board of Directors is authorized to repurchase up to 934,711 shares, approximately 5.0% of the total shares, using funds from the company's unrestricted shareholders' equity [2] - The total number of shares in Harvia Plc is 18,694,236, and the company currently holds 3,800 of its own shares [2] - The share repurchase is set to commence on February 19, 2026, and conclude by March 18, 2026, with shares acquired at market price through public trading on Nasdaq Helsinki Ltd [1] Group 2: Company Overview - Harvia is recognized as a leading company in the global sauna market, with a well-known brand and a comprehensive product portfolio catering to both private and professional customers [3] - In 2025, Harvia's revenue reached EUR 198.9 million, and the company employs over 700 professionals across various countries including Finland, the United States, Germany, Romania, China, Hong Kong, Austria, Italy, and Sweden [4] - The company is headquartered in Muurame, Finland, near its largest manufacturing facility for saunas and sauna components [4]

Core Viewpoint - Harvia Plc demonstrated solid financial performance in 2025, achieving significant revenue growth and maintaining profitability despite challenging market conditions and unfavorable exchange rates [10][18]. Financial Performance - Revenue for Q4 2025 increased by 5.3% to EUR 53.7 million, with organic growth contributing to a 10.2% increase at comparable exchange rates [5][11]. - Full-year revenue for 2025 reached EUR 198.9 million, marking a 13.5% increase compared to EUR 175.2 million in 2024, with a 16.0% increase at comparable exchange rates [5][21]. - EBITDA for Q4 2025 was EUR 12.3 million, up 18.7% from EUR 10.4 million in Q4 2024, while full-year EBITDA was EUR 45.7 million, a 7.8% increase from EUR 42.5 million [4][5]. - Operating profit for Q4 2025 was EUR 10.4 million, representing 19.3% of revenue, and for the full year, it was EUR 38.3 million, accounting for 19.3% of revenue [5][6]. - Basic EPS for 2025 was EUR 1.41, up from EUR 1.30 in 2024, reflecting a 9.1% increase [5][6]. Market Performance - In North America, revenue growth was 2.8% in Q4 2025, significantly lower than the 62.7% growth in the same quarter of the previous year, impacted by a weak U.S. dollar [12]. - Northern Europe showed a strong recovery with an 11.6% revenue increase in Q4 2025, returning to growth after two years of decline [13]. - The APAC & MEA region experienced a 25.4% revenue increase for the full year 2025, indicating strong long-term growth potential [14]. Strategic Initiatives - Harvia continued to invest in production facilities, innovation, and IT, which are crucial for long-term growth [16][17]. - The introduction of the MyHarvia Smart Sauna Sensor exemplifies the company's commitment to innovation and digital transformation [17]. - The company aims for an average annual revenue growth of 10% and an adjusted operating profit margin exceeding 20% in the long term [8]. Dividend Policy - The Board of Directors proposed a dividend of EUR 0.77 per share for 2025, an increase from EUR 0.75 in 2024, to be paid in two installments [5][9].

Company Overview - Harvia is one of the leading companies in the global sauna market, recognized for its revenue and well-known brands [2] - The company has a comprehensive product portfolio that caters to both private and professional customers in the international sauna market [2] Financial Performance - Harvia's revenue for the year 2024 amounted to EUR 175.2 million [3] Employment and Operations - The company employs approximately 700 professionals across various countries, including Finland, the United States, Germany, Romania, China, Hong Kong, Austria, Italy, and Sweden [3] - Harvia is headquartered in Muurame, Finland, which is also home to its largest sauna and sauna component manufacturing facility [3] Upcoming Events - Harvia will publish its Financial Statements Bulletin for 2025 on 12 February 2026 at around 09:00 a.m. Finnish time [1] - A webcast for analysts, investors, and media will be held on the same day at 11:00 a.m. EET, hosted by CEO Matias Järnefelt and CFO Ari Vesterinen [2]

Core Viewpoint - The Shareholders' Nomination Board of Harvia Plc has proposed the composition and remuneration of the Board of Directors for the upcoming Annual General Meeting scheduled for April 15, 2026, including the re-election of current members and the election of a new member, Martin Richter [1][2][3]. Board Composition - The Nomination Board proposes that the number of members of the Board of Directors shall be seven [1]. - Current members Catharina Stackelberg-Hammarén, Petri Castrén, Anders Holmén, Hille Korhonen, Markus Lengauer, and Olli Liitola are recommended for re-election [2]. - Heiner Olbrich will not be available for re-election, and Martin Richter is proposed as a new member [3]. New Member Profile - Martin Richter, born in 1976, is currently the Country Manager and CEO at Peloton Interactive and has held various positions at Spotify, Zalando, Henkel, and Coca-Cola [4]. - He holds a Master's degree in Economics and Social Sciences and an MBA from the University of Lüneburg, bringing over 20 years of international experience in consumer businesses [5]. Board Independence and Expertise - All proposed members have consented to their appointments and are independent of the company and major shareholders [6]. - The Nomination Board believes the proposed Board has the necessary expertise and competence to meet the company's strategic objectives [8][9]. Gender Representation - The proposed Board composition includes only two women, which deviates from the Corporate Governance Code's recommendation for a minimum of three women on a seven-member Board [10]. Remuneration Structure - The proposed remuneration for the Chair of the Board is EUR 5,500 per month, for the Deputy Chair EUR 4,000, and for other members EUR 3,500 [13]. - Committee chairs will receive EUR 1,400 per meeting, while other committee members will receive EUR 900 per meeting [14]. - The remuneration will be paid 40% in company shares and 60% in cash, with specific conditions for share transfers [16][17]. Travel and Meeting Fees - Members residing outside Finland will receive a separate meeting fee of EUR 900 for attending meetings in person [18]. - Travel expenses will be compensated according to the company's travel policy [19]. Nomination Board Composition - The Nomination Board is chaired by Josefin Degerholm, with other members from various financial institutions [20]. - The proposals made by the Nomination Board were unanimous and will be included in the notice for the 2026 Annual General Meeting [21]. Company Overview - Harvia is a leading company in the global sauna and spa market, with a revenue of EUR 175.2 million in 2024 and approximately 700 employees across multiple countries [22][23].

Corporate Governance Changes - Heiner Olbrich announced his resignation as Chair of Harvia Plc, effective from the Annual General Meeting in April 2026, and Catharina Stackelberg-Hammarén has been elected as the new Chair [1] - Markus Lengauer has been elected as the new Deputy Chair of the Board [1][2] - The Board Committees have undergone changes, with Stackelberg-Hammarén serving as Chair of the Personnel and Remuneration Committee [2][3] Company Overview - Harvia is a leading company in the global sauna market, recognized for its well-known brands and comprehensive product portfolio [4] - The company reported a revenue of EUR 175.2 million in 2024 and employs approximately 700 professionals across various countries [5]

Core Insights - Harvia Plc reported strong revenue growth in Q3 2025, with total revenue reaching EUR 46.0 million, an increase of 18.8% year-on-year, driven by solid performance across all regions [5][9]. Financial Performance - Q3 2025 revenue was EUR 46.0 million, up from EUR 38.7 million in Q3 2024, reflecting an 18.8% increase. At comparable exchange rates, revenue grew by 22.3% to EUR 47.3 million, with organic growth at 16.1% [4][5]. - For the first nine months of 2025, revenue increased by 16.9% to EUR 145.2 million compared to EUR 124.3 million in the same period of 2024. At comparable exchange rates, revenue grew by 18.4% to EUR 147.2 million, with organic growth at 10.7% [4][5]. - Operating profit for Q3 2025 was EUR 8.7 million, representing 18.9% of revenue, compared to EUR 8.3 million and 21.4% in Q3 2024. Adjusted operating profit was EUR 8.8 million, or 19.1% of revenue [4][5]. - For the first nine months of 2025, operating profit was EUR 27.9 million, making up 19.2% of revenue, compared to EUR 27.1 million and 21.8% in the same period of 2024 [4][5]. - Operating free cash flow for Q3 2025 was EUR -0.6 million, down from EUR 3.4 million in Q3 2024, primarily due to significant investments made to enhance operational efficiency [5][6]. Regional Performance - North America experienced a strong recovery with a 24% growth in Q3 2025, despite challenges from a weak U.S. dollar and ongoing tariff policy volatility [10]. - Sales in Europe improved, with Northern Europe growing by 14.8% and Continental Europe by 10.1%, driven by strong performance in Sweden and the Baltic countries [11]. - The APAC & MEA region was the fastest-growing, with a sales increase of 36.4%, indicating a broad-based growth strategy [12]. Strategic Outlook - The company aims for an average annual revenue growth of 10%, an adjusted operating profit margin exceeding 20%, and a net debt/adjusted EBITDA ratio below 2.5x [7]. - Harvia continues to focus on innovation and market expansion, including the launch of the upgraded MyHarvia app and new premium sauna collections for the North American market [15]. - The company is actively evaluating inorganic growth opportunities while maintaining a strong focus on sustainable long-term growth drivers in the sauna and spa market [15].

Core Insights - Harvia will publish its Interim report for the period of January−September 2025 on 6 November 2025 at around 9:00 a.m. Finnish time [1] - A webcast for analysts, investors, and media will be held on the same day at 11:00 a.m. EET, hosted by Harvia's CEO and CFO [2] - Harvia's revenue totaled EUR 175.2 million in 2024, and the company employs approximately 700 professionals across various countries [3] Company Overview - Harvia is one of the leading companies in the global sauna market, recognized for its well-known brands and comprehensive product portfolio [2] - The company is headquartered in Muurame, Finland, near its largest manufacturing facility for saunas and sauna components [3]

Core Insights - Harvia Plc has appointed Nathan Hagemeier as Head of Region, North America and President of Harvia US Inc., effective November 1, 2025, to lead the North American commercial organization and drive sustainable growth in the region [1][4] Group 1: Leadership and Experience - Nathan Hagemeier brings over 20 years of experience in global markets, with a strong background in technical products and solutions for residential and commercial use [2][3] - Prior to joining Harvia, Hagemeier held executive roles at DMF Lighting, Lutron, and Lonestar Electrical Supply, showcasing his capability in driving commercial excellence [3][4] Group 2: Strategic Importance - North America is identified as Harvia's largest market area and a key priority in the company's growth strategy, emphasizing the importance of Hagemeier's leadership in this region [4] - The appointment is expected to strengthen Harvia's market position and enhance the development of the company's business and organization in North America [4] Group 3: Company Overview - Harvia Plc reported a revenue of EUR 175.2 million in 2024 and employs approximately 700 professionals across various countries, including the United States and Finland [9] - The company is recognized as a leading player in the global sauna market, with a comprehensive product portfolio catering to both private and professional customers [8][9]

Core Points - Harvia Plc's Board of Directors has announced the record date and payment date for the second dividend installment of EUR 0.37 per share for the financial year 2024 [1][3] - The total dividend for the financial year 2024 is EUR 0.75 per share, to be paid in two installments, with the first installment of EUR 0.38 per share already paid on 17 April 2025 [2][3] - The second dividend installment will be paid to shareholders registered by 21 October 2025, with payment scheduled for 28 October 2025 [3] Company Overview - Harvia is a leading company in the global sauna market, recognized for its revenue and well-known brands [3] - The company has a comprehensive product portfolio aimed at both private and professional customers in the international sauna market [3] - In 2024, Harvia's revenue reached EUR 175.2 million, and the company employs approximately 700 professionals across various countries including Finland, the United States, Germany, Romania, China, and others [4]