Harvia Oyj (HRVFF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and welcome to Harvija's second quarter 25 earnings webcast. My name is Mattias Järnenfeld, I'm the CEO of Harvija and with me I have Ari Vesterinen, our Chief Financial Officer. Hello. Today our presentation outline is here. So I will start by covering the highlights of the second quarter in terms of the business events and financial performance. And I will also update you on our strategy implementation. After my part, Ari will then cover more in detail the financial side of our earnings release. So let's start. First of all, the highlights of the second quarter. Starting with the top line. Harvija's top line growth continued, but on a more modest level than we have seen in the past quarters. So revenue increased by .4% to 47.3 million euros. In terms of organic growth, that's 2.4%. When you look at our numbers, you can clearly see that the biggest change from the past quarters comes from the fact that our sales growth in North America was quite substantially slower than we've used to seeing in the past. And basically there's three main explaining factors to this. Market environment, timing of deliveries and weaker US dollar. And let me open these a little bit here. So in terms of timing of deliveries, when we look at the situation we had a year ago, so the comparison period, we had first of all a year ago in the winter season, we actually were in the end of the quarter one in sold our situation with some of our high selling sauna models in the United States. And that meant that part of our order intake from the winter last year then was moved to the quarter two in twenty four. The other factor affecting timing of deliveries a year ago was that we had political strikes in Finland during that time. And our largest heater equipment manufacturing facilit...