Harju Elekter Group achieved record operating profit exceeding 10 million euros for the first time in the third quarter. Operating profitability improved to 8.7% for the quarter and 8.0% for the nine-month period. Investments in expanding factories and machine parks are planned, starting with the construction of a 4,000 m2 expansion of the Keila plant. The Group’s revenue for the quarter was 43.0 million euros, a 4.5% increase from the previous year, while total revenue for the nine-month period was 126.5 million euros, a 12.6% decrease. Operating expenses totaled 39.4 million euros in the quarter and 117.4 million euros over the nine-month period. Labor costs increased by 3.9% in the third quarter but decreased by 2.3% over the nine-month period. Gross profit for the quarter was 7.5 million euros, with an improved margin of 17.3%. Operating profit reached 3.8 million euros for the quarter, with a margin of 8.7%. Net profit was 2.9 million euros for the quarter, with earnings per share of 0.16 euros. In terms of markets, the Estonian and Norwegian markets showed growth, while Finland and Sweden experienced declines in revenue. The Group’s investments in non-current assets focused on improving efficiency and quality through the acquisition of production technology equipment and the development of production and process management systems. The Group’s share price on the Nasdaq Tallinn Stock Exchange closed at 4.60 euros at the end of the quarter.

Read more at GlobeNewswire: Harju Elekter Group financial results, 1-9/2025