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].