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Harju Elekter (HAE1T) investor relations material
Harju Elekter Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was €41.0m, down 4.8% YoY, while operating profit reached €2.3m and operating margin was 5.7%, the strongest profitability quarter of 2026.
9M revenue fell 6.6% to €118.2m; operating profit declined to €3.9m from €10.1m and net profit to €1.6m from €8.2m.
A stronger order book, improved capacity utilisation and data-centre demand underpin cautious optimism for coming periods.
Financial highlights
Q3 gross profit was €6.8m versus €7.5m YoY; EBITDA €3.5m versus €4.8m; net profit €1.3m versus €2.9m; EPS €0.07 versus €0.16.
9M gross profit was €17.5m versus €20.6m YoY; EBITDA €7.4m versus €13.4m; EPS €0.09 versus €0.44.
9M operating cash flow rose to €7.7m from €1.7m, aided by €10.0m of lower receivables and prepayments; investing cash outflow was €5.2m.
Outlook and guidance
Order-book growth and improved production capacity utilisation support a more positive outlook, although delivery timing and lower-than-expected workloads remain constraints.
Priorities include raising Lithuanian factory utilisation, broadening its customer and product mix, and shifting Finnish resources from lower-value contract manufacturing to higher-margin project work.
Data-centre demand, digitalisation, AI adoption and electrification are viewed as long-term growth drivers for advanced power-distribution solutions.
- Revenue and profit fell in H1 2026, but a stronger order book signals future growth.HAE1T
Q2 2026 - Revenue declined 6.2% to €35.1m, with net profit at €19k amid supply chain and FX challenges.HAE1T
Q1 2026 - Profitability surged in 2025, with net profit tripling and EBIT doubling on stable revenue.HAE1T
Q4 2025 - Record Q3 profit and improved margins achieved despite lower revenue, driven by strategic focus.HAE1T
Q3 2025 - Profitability improved despite a 19% revenue drop, with net profit up 37.5% year-over-year.HAE1T
Q2 2025 - Revenue fell sharply in Q3, but profitability improved on cost savings and margin gains.HAE1T
Q3 2024 - Record Q2 profit and margin achieved on stable revenue and improved efficiency.HAE1T
Q2 2024 - Net profit soared 630% to €2.6m despite a 20% revenue drop, signaling margin recovery.HAE1T
Q1 2025 - Revenue and profit fell, but cash flow and margins improved amid strategic repositioning.HAE1T
Q4 2024
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