Business
Harju Elekter Group financial results, 1-6/2025
Harju Elekter Group financial results,
About this update from Harju Elekter Group As
[{"type":"text","content":"The second quarter and first half of 2025 were successful for the Harju Elekter in terms of results. Although we have seen a decline in revenue compared to previous periods, we have continued to improve profitability — a long-term strategic goal of the Group. The Estonian production unit delivered the strongest performance in the first half-year, supported by continued high demand for substation solutions for distribution networks as well as for more complex E-house type solutions used in data centres. A notable result was also achieved by the Finnish subsidiary Telesilta OY, which specializes in the design and installation of electrical solutions for the shipbuilding industry. While the results of the Lithuanian, Finnish, and Swedish production units were more modest, the growth in order books in these units indicates increased customer interest and readiness to launch new projects — a development expected to have a positive impact in the second half of the year and into 2026. Although interest in industrial automation and energy efficiency solutions has remained stable or grown, the industrial sector as a whole remains under pressure — primarily due to high input prices and weak export performance, both of which continue to affect our key target markets where investment activity has been cautious. Overall, we expect strong financial results for the full year 2025. This outlook is supported by declining interest rates, which have improved the investment climate and contributed to a more active economic environment. In April, AS Harju Elekter Group’s Finnish subsidiary Harju Elekter OY exited a financial investment by divesting a 9.15% stake in IGL Technologies OY, a leading Finnish developer and operator of parking and e-mobility solutions. This move aligns with the Group’s strategy to focus on core operations and direct more resources toward product development and innovation — particularly the development of next-generation chargers that meet the growing demand for sustainable and smart energy solutions.Revenue and financial results The Group’s revenue decreased by 19% compared to the same period last year – both in quarterly and half-year comparisons. The revenue for the reporting quarter was 46.1 (Q2 2024: 56.8) million euros, and total revenue for the first half of the year was 83.5 (6M 2024: 103.6) million euros. Although...