Harvia Oyj (HRVFF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone, and welcome to Harvia's quarter four, 25 earnings webcast. My name is Mattias Ehnefeldt. I'm the CEO of the company. And with me, I have Ari Vesterinen, our chief financial officer. Hello. We will run the session today as follows. I will start by going through the highlights of the business and financial performance during the quarter four. I will also give you an update on how we're progressing with implementing our strategy. After that, Ari will be providing more details on our financial performance for the quarter and for the full year, after which we will be happy to answer any of your questions, which, as usual, you can submit through the chat of this webcast. So let's summarize quarter four. In terms of top line, our revenue increased by 5.3% to 53.7 million euros, and we delivered positive growth in all regions. And all of the growth was organic. The currency exchange rates, in particular the US dollar depreciation against euro, had quite significant impact on our reported numbers. At comparable exchange rates, we grew by 10.2%. Growth in North America was impacted by the currencies. In addition to that, North America had a particularly strong comparison period from last year. In quarter four, 24, we grew by over 60%. And around half of it, so around 30%, was organic growth. So that was in the base. We had good sales performance in Europe, with Northern Europe delivering the second consecutive double-digit growth quarter, and was the harvest fastest growing region during this quarter. In Asia-Pacific and Middle East, we posted only a small growth. This was particularly impacted by project deliveries in our Middle East sub-region. In terms of the bottom line, we delivered adjusted operating profit of 10.5 million euros, and that represents 19.5%...