Harvia Results Q2 2026: Revenue, Profit and Margins
In Q2 2026, Harvia’s revenue was €52.8 million, up 11.7% from Q2 2025. Operating profit was €8.4 million, an operating margin of 15.9% (Q2 2025: 16.1%). Net income for the period was €5.6 million and earnings per share €0.30.
Harvia income statement Q2 2026: where the revenue went
Of every €100 of revenue in Q2 2026, €15.9 was left as operating profit and €10.6 as net income.
Key figures for Q2 2026
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Revenue, €M | 52.8 | 47.3 | +11.7% |
| Operating profit, €M | 8.4 | 7.6 | +10.2% |
| Operating margin | 15.9% | 16.1% | −0.2 pp |
| Adjusted operating profit, €M | 8.6 | 8.2 | +4.8% |
| Net income, €M | 5.6 | 4.4 | +27.6% |
| Net margin | 10.6% | 9.3% | +1.3 pp |
| Earnings per share | €0.30 | €0.23 | +30.4% |
Harvia in charts
Harvia from revenue to net income, Q2 2026
Net income was €5.6 million on revenue of €52.8 million, a net margin of 10.6%.
What drove Harvia’s operating profit
Operating profit rose from €7.6 million in Q2 2025 to €8.4 million in Q2 2026. The chart shows which lines of the income statement made up the change.
Harvia revenue by region
In Q2 2026, the largest region was North America with 43.6% of revenue, followed by Continental Europe (23.5% of revenue).
Harvia revenue by product group
In Q2 2026, the largest product group was Heating equipment with 48.4% of revenue, followed by Saunas and hot tubs (29.8% of revenue).
Harvia profitability: profit margins by quarter
In Q2 2026, Harvia’s operating margin was 15.9% (Q2 2025: 16.1%) and net margin 10.6% (Q2 2025: 9.3%). From Q1 2023 to Q2 2026, the operating margin ranged from 15.9% (Q2 2026) to 23.4% (Q4 2023).
Harvia revenue growth by quarter
Revenue was €52.8 million in Q2 2026, up 11.7% from Q2 2025. The highest quarter from Q1 2023 to Q2 2026 was Q1 2026, with €58.6 million.
Harvia operating profit by quarter
Operating profit was €8.4 million in Q2 2026 (Q2 2025: €7.6 million). Adjusted operating profit was €8.6 million (Q2 2025: €8.2 million).
Harvia revenue and earnings, last twelve months
In the twelve months to the end of Q2 2026, revenue was €211.0 million (+11.7% on a year earlier) and net income €28.6 million.
Harvia earnings per share (EPS)
Earnings per share were €0.30 in Q2 2026 (Q2 2025: €0.23).
Quarterly results
| Quarter | Revenue | Change y/y | Operating profit | Operating margin | Net income | EPS |
|---|---|---|---|---|---|---|
| Q2 2026 | 52.8 | +11.7% | 8.4 | 15.9% | 5.6 | €0.30 |
| Q1 2026 | 58.6 | +12.7% | 12.8 | 21.9% | 9.3 | €0.50 |
| Q4 2025 | 53.7 | +5.3% | 10.4 | 19.3% | 7.6 | €0.40 |
| Q3 2025 | 46.0 | +18.8% | 8.7 | 18.9% | 6.0 | €0.33 |
| Q2 2025 | 47.3 | +9.4% | 7.6 | 16.1% | 4.4 | €0.23 |
| Q1 2025 | 52.0 | +22.7% | 11.9 | 22.9% | 8.4 | €0.45 |
| Q4 2024 | 51.0 | +29.3% | 8.4 | 16.5% | 5.4 | €0.29 |
| Q3 2024 | 38.7 | +14.0% | 8.3 | 21.4% | 5.5 | €0.29 |
Annual results
| Year | Revenue | Operating profit | Operating margin | Net income | EPS |
|---|---|---|---|---|---|
| 2025 | 198.9 | 38.3 | 19.3% | 26.4 | €1.41 |
| 2024 | 175.2 | 35.5 | 20.3% | 24.2 | €1.30 |
| 2023 | 150.5 | 33.0 | 21.9% | 23.3 | €1.25 |
Revenue by region
| Region | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| APAC & MEA | 6.1 | 6.4 | −4.9% |
| North America | 23.0 | 16.6 | +38.6% |
| Northern Europe | 11.3 | 11.5 | −1.7% |
| Continental Europe | 12.4 | 12.8 | −2.9% |
Revenue by product
| Product | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Steam products | 4.0 | 4.7 | −13.8% |
| Saunas and hot tubs | 15.8 | 10.9 | +44.0% |
| Heating equipment | 25.6 | 25.1 | +1.8% |
| Accessories and heater stones | 3.8 | 3.1 | +22.8% |
| Spare parts and services | 3.6 | 3.4 | +6.6% |
Dividends
| Financial year | Dividend per share | EPS | Payout ratio | Status | Source |
|---|---|---|---|---|---|
| 2025 | €0.77 | €1.41 | 54.6% | Board proposal | Release |
| 2024 | €0.75 | €1.30 | 57.7% | Decided by the AGM | Release |
“Board proposal” is the dividend the board proposed in the financial statements release. The annual general meeting usually approves it, but check the company’s AGM release for the final decision. Payout ratio is dividend per share divided by basic earnings per share (payout ratio); N/M means not meaningful (loss).
Calculate it yourself
- Operating margin calculatorHarvia in Q2 2026: 15.9%
- Net margin calculatorHarvia in Q2 2026: 10.6%
- Earnings per share calculatorHarvia in Q2 2026: €0.30
About Harvia
Harvia is a Finnish sauna and spa company. It makes sauna heaters, saunas, steam generators and hot tubs and sells them worldwide.
- Harvia half-year report Jan–Jun 2026, published Aug 6, 2026
- Harvia interim report Jan–Mar 2026, published May 7, 2026
- Harvia financial statements release 2025, published Feb 12, 2026
- Harvia interim report Jan–Sep 2025, published Nov 6, 2025
- Harvia half-year report Jan–Jun 2025, published Aug 7, 2025
- Harvia interim report Jan–Mar 2025, published May 7, 2025
- Harvia financial statements release 2024, published Feb 13, 2025
- Harvia interim report Jan–Sep 2024, published Nov 7, 2024
- Harvia half-year report Jan–Jun 2024, published Aug 8, 2024
About these figures. All figures come from Harvia’s published interim reports and financial statements releases, linked above, and are checked against them before publication. Errors are still possible, so confirm any figure in the original report before relying on it. Amounts are in millions of the reporting currency. Quarters reported only cumulatively (for example the fourth quarter) are derived by subtraction, and when a company restates earlier figures, older quarters on the previous basis are left out of comparisons. Margins and changes are calculated by Finpendium. This page is for information only and is not investment advice or a recommendation to buy or sell any security. See how the figures are checked and our Disclaimer. Spotted an error? Let us know.