Estonia's Harju Elekter Q3 revenue falls 4.8% on postponed projects

Overview

• Estonia electrical equipment maker's Q3 revenue fell 4.8% yr/yr to EUR 41 mln

• EPS for Q3 declined 56% yr/yr to EUR 0.07

• Operating margin improved to 5.7%, exceeding minimum target

Outlook

• Company expects gradual improvement in profitability and order book growth in coming periods

• Order intake growth driven by strong data centre sector investment and demand for power solutions

• Company sees demand supported by digitalisation, AI adoption, and electrification trends

Result Drivers

• PROJECT DELAYS AND LOW WORKLOAD - Co said profitability was affected by postponed projects and lower-than-expected workload, especially at the Lithuanian factory

• DATA CENTRE DEMAND - Order intake growth driven by investment activity in data centre sector and demand for advanced power distribution solutions

• LOWER PRODUCTION VOLUMES - Decline in gross margin attributed to lower production volumes and weaker coverage of fixed costs

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)