Harju Elekter saw successful results in Q2 and first half of 2025 despite revenue decline. Estonian unit excelled with high demand for substation solutions. Lithuanian, Finnish, and Swedish units showed modest results but with growing order books. The outlook for 2025 remains strong due to improved investment climate and active economy.

In Q2, Harju Elekter OY divested a 9.15% stake in IGL Technologies OY to focus on core operations. Revenue decreased by 19% in Q2 and 6M 2025 compared to the previous year, but the company maintained stability. Operating expenses decreased by 18.8%, with a slight increase in distribution and administrative expenses to support revenue stability.

Gross profit decreased in Q2 to 7.4 million euros, but the margin improved to 16.1%. Operating profit was 3.6 million euros, with stable margins. Net profit was 2.6 million euros. The decline in sales did not impact gross profit for the first half-year, which remained stable at 13.1 million euros. Net profit for the period was 5.3 million euros.

Scandinavian core markets experienced revenue decline in Q2 2025. Estonia’s revenue grew, Finland and Sweden saw declines, while Norway showed positive growth. Investments in non-current assets aimed at acquiring production technology and developing new products. Long-term financial investments were valued at 27.2 million euros.

AS Harju Elekter Group’s share price on the Nasdaq Tallinn Stock Exchange closed at 4.81 euros at the end of Q2 2025. The consolidated statement of financial position showed total assets of 170,483 EUR, with total equity of 93,625 EUR. The consolidated statement of profit and loss indicated a profit for the period of 2,628 EUR in Q2 2025.

Read more at GlobeNewswire: Harju Elekter Group financial results, 1-6/2025