I was browsing Harvia’s annual report released today, and it caught my eye that they kindly disclose the CEO’s annual bonus “personal targets” retrospectively, which account for 30% of the bonus, with EBIT determining 70%. Below are Matias’s focus areas from last year. Of these, Matias received only about half of the maximum reward, so not everything progressed quite according to plan.
The highlighting of the infrared strategy strongly suggests that Harvia is heading more heavily in that direction one way or another in the coming years, which is a good thing for international growth. This isn’t surprising, of course, but if a strategy was developed last year, then perhaps we’ll start to hear something concrete this year. Naturally, if the strategy requires an acquisition, its realization isn’t entirely in their hands. I’ll have to ask about these in future interviews.
For comparison, the 2023-24 targets; compared to these, I think the 2025 targets were more specifically defined areas.
