Harvia Oyj (HRVFF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.000 -- 00:00:05.660 Hello everyone and welcome to Harvija's second quarter 25 earnings webcast. 00:00:05.660 -- 00:00:10.420 My name is Mattias Järnenfeld, I'm the CEO of Harvija and with me I have Ari Vesterinen, 00:00:10.420 -- 00:00:14.160 our Chief Financial Officer. Hello. 00:00:14.300 -- 00:00:19.340 Today our presentation outline is here. So I will start by 00:00:19.340 -- 00:00:23.900 covering the highlights of the second quarter in terms of the business events and financial 00:00:23.900 -- 00:00:28.000 performance. And I will also update you on our strategy implementation. 00:00:28.000 -- 00:00:33.180 After my part, Ari will then cover more in detail the financial side 00:00:33.180 -- 00:00:36.420 of our earnings release. 00:00:36.420 -- 00:00:38.660 So let's start. 00:00:38.660 -- 00:00:41.760 First of all, the highlights of the second quarter. 00:00:41.760 -- 00:00:46.760 Starting with the top line. Harvija's top line growth continued, but 00:00:46.760 -- 00:00:50.200 on a more modest level than we have seen in the past quarters. 00:00:50.200 -- 00:00:56.540 So revenue increased by .4% to 47.3 million euros. 00:00:56.540 -- 00:00:59.760 In terms of organic growth, that's 2.4%. 00:00:59.760 -- 00:01:04.380 When you look at our numbers, you can clearly see that the biggest change from the past 00:01:04.380 -- 00:01:09.700 quarters comes from the fact that our sales growth in North America was 00:01:09.700 -- 00:01:14.700 quite substantially slower than we've used to seeing in the past. 00:01:14.700 -- 00:01:18.880 And basically there's three main explaining factors to this. 00:01:18.880 -- 00:01:23.380 Market environment, timing of deliveries and weaker US dollar. 00:01:23.380 -- 00:01:28.380 And let me open these a little bit here. So in ter...