Harvia Forum or Haarumi - International Growth and Well-being Megatrends

Regarding Q3, it’s worth keeping in mind that there is sales shifted over from Q2 due to the production disruption in Muurame, so the figures will be strong partly because of that. Of course, I believe that growth will remain strong in the US as well (which wasn’t really affected by Muurame). But in the Q3 report, the 9-month cumulative figures will tell us more about the real trend than the Q3 figures alone.

The same thing (the production disruption) also definitely affects those Harvia US export figures mentioned above; after all, what Harvia exports to the US is mainly sauna heaters from Muurame, whereas the sauna production itself is local.

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Today 14.10.

DNB Carnegie raises Harvia’s target price to EUR 52.00 (prev. 49.00), reiterates Buy recommendation.

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