Harvia has suspended its operations in Russia

Press Release | 7 March 2022

Harvia Plc         Press Release 7 March 2022

Harvia Plc confirms that it suspended its operations in Russia in the beginning of March due to the war in Ukraine and the rapidly changed situation. The company condemns Russia’s invasion of Ukraine.

Sales in Russia accounted for 6.4 percent of Harvia Group’s revenue in 2021 (EUR 11.5 million). The Group employs 27 people in Russia. Harvia does not have a production facility in Russia.

“We condemn the war in Ukraine and are shocked by the human suffering it has caused. We are supporting those affected by the war in Ukraine and are doing everything we can to help our local partners in Ukraine,” says Tapio Pajuharju, CEO of Harvia Plc.

The company is monitoring the developing situation and the potential effects on Harvia closely. Should there be any direct and material financial impact according to Harvia’s assessment, the company will announce them without delay.

Further information:

Tapio Pajuharju, CEO, tel: +358 50 577 4200

Ari Vesterinen, CFO, tel. +358 40 505 0440

Harvia in brief:

Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers.

Harvia’s revenue totaled EUR 179.1 million in 2021, of which 79% came from outside Finland. Harvia Group employs more than 800 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany, Estonia and Russia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com