Harvia Oyj

Harvia Plc released a notification on September 12, 2024, regarding transactions by a senior manager, Timo Harvia. The transactions, which took place on September 10 and 11, 2024, involved the disposal of shares in various venues, including AQEU, BEUP, CEUD, CEUX, DHEL, TQEX, SGMU, and NASDAQ Helsinki Ltd (XHEL). The total volumes and volume-weighted average prices of the transactions were detailed for each venue. Harvia is a leading company in the global sauna market, with a revenue of EUR 150.5 million in 2023 and approximately 600 employees worldwide. The company is headquartered in Muurame, Finland. For further information, contact CFO Ari Vesterinen.

Harvia Plc will release its financial statements for 2024 and interim reports in 2025. The electronic annual report, including the complete Financial Statements for 2024, will be published during the week starting March 10, 2025. The Annual General Meeting is scheduled for April 8, 2025, at 10:00 a.m. in Helsinki, with the exact location to be announced later. Harvia is a leading global company in the sauna market, with a revenue of EUR 150.5 million in 2023 and over 600 employees across various countries. The company is headquartered in Muurame, Finland. For more information, contact CFO Ari Vesterinen at +358 40 5050 440 or ari.vesterinen@harvia.com.

Harvia Plc announced on September 9, 2024, that its shareholders' nomination board will prepare proposals regarding the election and remuneration of Board Members and members of various Board committees for future Annual and Extraordinary General Meetings. The nomination board consists of representatives from the company's four largest shareholders, based on the shareholders' register maintained by Euroclear Finland Ltd as of the first working day in September before the Annual General Meeting. If a shareholder declines their right to appoint a representative, the next largest shareholder will take their place. Heiner Olbrich, Chairman of the Board of Directors, will act as an expert on the Nomination Board without being a member. The Nomination Board will submit its proposals for the 2025 Annual General Meeting by January 31, 2025. Harvia, a leading global company in the sauna market, reported a revenue of EUR 150.5 million in 2023 and employs over 600 professionals across multiple countries. The company is headquartered in Muurame, Finland.

Harvia Plc reported significant sales growth and strong profitability in its Q2 2024 financial review. The company achieved a 20.7% increase in revenue, reaching EUR 43.3 million, driven by strong performance in North America, Asia-Pacific, and the Middle East. Organic growth was 20.1%. Market conditions remained favorable, with increased awareness of sauna benefits. Continental Europe showed signs of recovery, and Northern Europe experienced revenue growth after two years of decline. The adjusted operating profit for Q2 was EUR 9.4 million, with a margin of 21.8%. Harvia's operating free cash flow was EUR 5.5 million, and the company increased inventories in Finland, the U.S., and Japan. Harvia updated its long-term financial targets and strategy, aiming for an average annual revenue growth of 10%, an adjusted operating profit margin exceeding 20%, and a net debt/adjusted EBITDA below 2.5x. The company also announced the acquisition of ThermaSol, a U.S. steam solutions manufacturer, to strengthen its position in North America. Harvia's CEO and CFO will host a webcast on the financial results on 8 August 2024. Harvia is a leading global sauna market company with a comprehensive product portfolio and over 600 employees.

Harvia Plc will release its half-year financial report for January–June 2024 on Thursday, 8 August 2024 at approximately 9:00 a.m. EEST. The report and presentation materials will be available on Harvia's investor relations website. A webcast for analysts, investors, and media will be held on the same day at 11:30 a.m. EEST, hosted by CEO Matias Järnefelt and CFO Ari Vesterinen. The webcast can be accessed online, and a recording will be available later. Harvia is a leading company in the global sauna market, with a revenue of EUR 150.5 million in 2023 and around 600 employees worldwide. The company is headquartered in Muurame, Finland. For further information, contact CFO Ari Vesterinen.

Harvia Plc has completed its acquisition of ThermaSol Steam Bath LLC, a leading U.S. manufacturer of high-end steam showers and steam rooms. The deal, announced on 23 July 2024, involved Harvia purchasing 100% of ThermaSol's shares for USD 30.4 million. The acquisition was financed through a 20 million euro bullet loan and cash funds. Harvia, a global leader in the sauna market, generated EUR 150.5 million in revenue in 2023 and employs around 600 professionals across multiple countries. The company is headquartered in Muurame, Finland.

Harvia Plc has signed an agreement to acquire 100% of ThermaSol Steam Bath LLC, a leading U.S. manufacturer of steam showers and steam rooms, for USD 30.4 million. ThermaSol, established in 1958 and headquartered in Round Rock, Texas, will operate as an independent brand within Harvia Group. The acquisition aims to strengthen Harvia's position in the U.S. sauna market and enhance its steam solutions offerings. ThermaSol's 2023 net sales were USD 14.4 million, and the company employs around 40 people. Harvia will finance the acquisition with a bullet loan and cash funds. The transaction is expected to close in July 2024, with ThermaSol's current CEO Mitch Altman transitioning to a Strategic Adviser role, and Jennifer Thayer becoming the new CEO. The acquisition is anticipated to create annual synergies of approximately EUR 1.7 million by 2027.

Harvia has upgraded its wood-burning heater production line to enhance quality, efficiency, and reliability through increased automation and the latest manufacturing technologies. The new heaters feature structural improvements, such as a reinforced firebox and updated chimney connections, while maintaining the same appearance and dimensions for easy replacement. According to Tuomo Kakkonen, Production Director at Harvia, these advancements will improve production efficiency, increase capacity, and support long-term demand growth. The upgrades also enhance material efficiency, recycling efforts, and delivery times. The new heaters have been awarded the Key Flag label, signifying Finnish craftsmanship and supporting local employment. All frame upgrades are expected to be completed by the end of 2024.

Harvia PLC released a stock exchange announcement on June 11, 2024, at 4:00 P.M. EEST. Additional information can be obtained from Ari Vesterinen, CFO, via phone or email. Harvia is a leading company in the global sauna market by revenue, with a well-known brand and comprehensive product portfolio catering to both private and professional customers. In 2023, Harvia's revenue was EUR 150.5 million. The Harvia Group employs around 600 professionals across various countries, including Finland, Germany, the United States, Romania, China, Hong Kong, Austria, Italy, Estonia, and Sweden. The company is headquartered in Muurame, Finland, near its largest manufacturing facility. More information can be found on their website.

Harvia PLC, a leading global company in the sauna market by revenue, released information on June 11, 2024. The company, known for its well-recognized brands and comprehensive product portfolio, aims to meet the needs of both private and professional customers in the international sauna market. In 2023, Harvia reported a revenue of EUR 150.5 million and employs around 600 professionals across various countries including Finland, Germany, the United States, Romania, China, Hong Kong, Austria, Italy, Estonia, and Sweden. The company is headquartered in Muurame, Finland, near its largest manufacturing facility. Further details can be found on their website.