Harvia aims to make sauna a broader experience, offering a complete portfolio of all sauna types, cold plunges, hot tubs, and other sauna related extensions, and constantly bringing new, exciting innovations to the market with a winning design, the best user experience and great digital solutions.
To support its growth ambition, Harvia focuses on increasing the sales of comprehensive systems and solutions. Harvia also aims to make steam and infrared saunas a more sizeable part of Harvia’s business, both organically and through M&A.
Harvia continues to drive growth especially in strategically important markets outside Europe. In North America, the company aims to maintain strong growth across price points, categories, and channels, supported by investments in expanding the operations at the Lewisburg factory, among others. In the APAC & MEA region, Harvia continues to develop the market actively in selected high-potential countries such as Japan. In the established, traditional sauna markets in Europe, the company focuses on strengthening its position further and capturing growth also in the short term as the markets recover.
Another key objective for Harvia is to take an active consolidator role in the industry through M&A.
Harvia’s markets have different sauna cultures and product mixes and therefore also different sales channels and networks. An important part of accelerating Harvia’s growth is further developing Harvia’s channel strategy and the Group-level sales and customer service capabilities to drive synergies and cross-sell opportunities. To capture the full market potential efficiently, Harvia puts significant focus on developing its long-term B2B customer relationships. In addition, the company will strengthen the role of its direct-to-consumer channel.
Efficient operations provide a significant competitive advantage for Harvia, and continuously improving productivity to ensure profitability remains a key focus area of Harvia’s strategy. This is sought by scaling up and automating operations while expanding capacity in the strongly growing regions, such as North America. The company also focuses on deepening integration within Harvia Group to drive productivity and growth.
Harvia’s long-term financial targets have been adjusted to reflect the company’s growth ambitions. The new long-term financial targets are:
1) Adjusted operating profit is operating profit before items affecting comparability.
2) Excluding the future impacts of changes in IFRS reporting standards.
Harvia’s dividend policy stays unchanged: the company will continue to pay a regularly increasing dividend with a bi-annual payout.
