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Harju Elekter (HAE1T) investor relations material
Harju Elekter Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved record operating profit in Q3, exceeding €10 million for the first time, with strong results from the Estonian unit and improved group-wide profitability despite challenging economic conditions.
Operating margin reached 8.7% for Q3 and 8.0% for the nine months, reflecting successful strategic changes and cost management.
Revenue for Q3 increased 4.5% year-over-year to €43.0 million, while nine-month revenue declined 12.6% to €126.5 million, prioritizing profitability over sales growth.
Financial highlights
Q3 net profit rose to €2.9 million (Q3 2024: €1.7 million); nine-month net profit was €8.2 million (9M 2024: €5.5 million).
Earnings per share increased to €0.16 in Q3 and €0.44 for the nine months.
Gross margin improved to 17.3% in Q3 and 16.3% for the nine months.
EBITDA margin for nine months was 10.6%, up from 7.7% year-over-year.
Operating cash flow for nine months was €1.7 million, down from €14.2 million a year earlier, mainly due to changes in inventories and receivables.
Outlook and guidance
Continued focus on profitability, with investments planned in factory expansion and production capacity, including a 4,000 m2 expansion of the Keila plant to be completed by October 2026.
Accumulated reserves and record profits provide confidence to face the traditionally weaker Q4 and early-year periods.
Keila plant expansion: impact on 10% margin goal?
US market absence: future growth strategy?
Skeleton Technologies investment: future plans?
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Next Harju Elekter earnings date
Q4 202525 Feb, 2026
Next Harju Elekter earnings date
Q4 202525 Feb, 2026
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Frequently asked questions
AS Harju Elekter is an Estonian company that specializes in providing electrical power distribution solutions. The company operates across several segments, including production, real estate, and other activities. Harju Elekter designs, manufactures, sells, and offers after-sales services for a wide range of electrical equipment. This includes power distribution, switching, and conversion systems, as well as automation, process control, and industrial control equipment. Their products serve various sectors such as electricity distribution, industrial, construction, infrastructure, marine, and renewable energy. Additionally, the company offers prefabricated technical buildings, electrical installation services, solar panels, and electric car chargers. The company is headquartered in Keila, Estonia, and its shares are listed on the Nasdaq Tallinn.
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