Q1 2025 Harvia Oyj Earnings Call Transcript

May 7, 2025 / 08:00 AM GMT

Release Date Price: €40.4 (-1.10%)

Transcript

Key Points

Positve

Harvia PLC (HRVFF) reported a 22.7% increase in revenue, reaching €52 million, with organic growth at 14%.
North America played a significant role in driving growth, contributing 80% of the growth euros and achieving nearly 60% growth.
The company's adjusted operating profit grew to nearly €12 million, representing 22.9% of revenue, indicating strong operational performance.
Harvia PLC (HRVFF) achieved a solid cash conversion rate of 73.7%, demonstrating effective cash flow management.
The integration of Thermosol has progressed well, contributing positively to growth and profitability, and is ahead of schedule in realizing synergies.

Negative

The market in Finland remains challenging due to weakness in the construction and property market, affecting Northern Europe's performance.
Continental Europe is still below market potential, indicating room for improvement in growth opportunities.
The adjusted operating profit percentage decreased slightly due to growth investments, despite an increase in absolute terms.
The company's net debt remains higher than a year ago due to the Thermosol acquisition and increased working capital.
Consumer confidence in the United States is at its lowest level in 12 years, which could impact future demand.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HARVIA.HE - Harvia Oyj
Q1 2025 Harvia Oyj Earnings Call
May 07, 2025 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Hello, everyone, and welcome to Havia's first quarter 2025 earnings webcast. My name is Matthias Jaenfeldt. I'm the CEO of Harvia, and with me, I have Ari Westerin, our Chief Financial Officer. Hello.

As usual, we have this flow for the session today. I will start by covering the highlights of the quarter 1 in terms of business results and also key activities. I will also shed light on the recent developments and progress in terms of strategy implementation. After that, AI will cover the financial performance more in detail. After that, we are again welcoming questions that you can submit via the chatbox in this webcast.

So let's summarize the quarter first, starting with the top line revenue was â¬52 million and that's up 22.7% from

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