Harvia Plc Stock Exchange Release 16 May 2025 at 6:00 P.M. EEST Jennifer Thayer, Head of Region, North America and President of Harvia US Inc, has decided to resign from her position at Harvia to join another employer. Thayer will continue in her current position until 30 May 2025. Nick Larrick, Vice President of Operations at Harvia North America, will serve as Interim Head of Region, North America, and as an interim member of Harvia’s Management Team as of 1 June 2025. Larrick brings 25 years of experie ...

TULIKIVI CORPORATION INTERIM REPORT 9 MAY 2025 AT 1 PM - The Tulikivi Group’s first-quarter net sales were EUR 6.0 million (EUR 8.5 million, 1–3/2024).- The Tulikivi Group’s first-quarter operating profit was EUR -0.7 (0.3) million and the profit before taxes was EUR -0.9 (0.1) million.- The equity ratio at the end of the review period was 49.4 per cent (49.5).- Order books stood at EUR 4.3 (5.4) million at the end of the review period.- The environmental permit process for the Suomussalmi talc project is m ...

Core Viewpoint - Harvia Plc reported strong profitability and growth across all regions in Q1 2025, with significant contributions from North America and the successful integration of the ThermaSol acquisition [1][8][9]. Financial Performance - Revenue increased by 22.7% to EUR 52.0 million compared to EUR 42.4 million in Q1 2024, with organic revenue growth at 14.1% [3][5]. - EBITDA rose by 20.5% to EUR 13.8 million, representing 26.5% of revenue [3][5]. - Operating profit reached EUR 11.9 million, accounting for 22.9% of revenue, an increase of 20.8% year-on-year [3][5]. - Basic EPS improved to EUR 0.45 from EUR 0.40, marking an 11.9% increase [3][5]. - Operating free cash flow was EUR 10.2 million, with a cash conversion rate of 73.7% [3][5]. Regional Performance - North America contributed over 80% of total revenue growth, with strong market demand during the high-demand winter season [9][10]. - The APAC & MEA region experienced growth but had lower revenue due to fluctuations from large individual deliveries [11]. - European market conditions remained challenging, particularly in Northern Europe, with slow recovery in Finland [12]. Strategic Initiatives - The company is focused on long-term growth targets, aiming for an average annual revenue growth of 10% and an adjusted operating profit margin exceeding 20% [6]. - Harvia continues to invest in innovation, brand building, and digital sales channels to support future growth [14]. - The integration of ThermaSol is progressing well, contributing positively to sales and cost synergies [10][14]. Market Outlook - Global interest in saunas is rising, presenting both organic and inorganic growth opportunities for Harvia [15]. - The company is well-positioned to navigate challenges posed by global economic conditions and tariffs, with a significant portion of products manufactured locally in the U.S. [16]. Company Overview - Harvia is a leading player in the global sauna market, employing approximately 700 professionals across multiple countries [19][20]. - The company is headquartered in Muurame, Finland, adjacent to its largest manufacturing facility [20].