You can make a holiday home pay its way by renting it out when you’re not there

Stock Exchange Release | 19 July 2022 Harvia Plc, Insider information, 19 July 2022, at 5:30 p.m. EEST

The Russian invasion of Ukraine has impacted Harvia directly and indirectly. The direct impact is on Russia, Ukraine and the related markets. The indirect impact is visible in the higher raw material prices, inflation and reduced consumer confidence. This has lowered the demand for entry level saunas and sauna heaters in Central Europe. Sauna sales remained stable for premium products as well as for sauna heaters and components suited for professional customers. The advanced demand we experienced in the past due to the COVID-19-related home improvement boom has faded away.

In the second quarter of 2022, Harvia’s revenue and profitability decreased compared to the record high second quarter of 2021. On top of the Russia impact, the main reason for the unfavorable development is declining sales in Central Europe. The sales mix was substantially skewed towards lower profitability products groups. Slower rotation of Russian related trade receivables resulted in increased provisions for possible future write downs of the trade receivables in Russia.

Simultaneously, the awareness, popularity and usage of saunas has increased in multiple markets. Harvia’s management estimates that the company has continued to increase its market share in all markets, and the demand for the company’s products remains solid, especially for the premium professional offering. While the period of advanced demand appears to have ended, the penetration of sauna and spa products continues to increase. In addition, the demand for replacement products is expected to remain stable. The company’s management estimates that the current market situation will not affect the long-term growth expectations of the sauna and spa market or Harvia’s long-term targets.

Harvia’s key figures in the second quarter of 2022 according to preliminary calculations (unaudited):

Revenue declined by 2% to approximately EUR 46.0 million (46.8).

Operating result declined to approximately EUR 8.7 million (12.9).

Adjusted operating result declined to approximately EUR 8.8 million (13.2).

Revenue grew by 12% to approximately EUR 96.8 million (86.5).

Organic revenue growth in the period was 3%.

Operating result declined to approximately EUR 20.8 million (23.9).

Adjusted operating result declined to approximately EUR 20.9 million (24.4).

Harvia will publish its half-year financial report on 11 August 2022. Due to the silent period, Harvia will not give any further comments on its result before publishing the half year report. Harvia will hold a webcast conference on the day of the results release. The participants have the opportunity to ask questions during that webcast.

For further information, please contact:

CEO Tapio Pajuharju, tel. +358 50 577 4200 CFO Ari Vesterinen, tel. +358 40 505 0440

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.

Global Natural Fiber Reinforced Composites Market Global Natural Fiber Reinforced Composites Market Dublin, July 21, 2022 (GLOBE NEWSWIRE) -- The "Natural Fiber Reinforced Composites Market, by Fiber Type, by Polymer, by End-User Industry, by Region - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering. The properties of Natural Fiber Reinforced Composites can be varied, as these materials are derived from both plant and animal

Global Automotive Event Data Recorder Market 2022-2026 The analyst has been monitoring the automotive event data recorder market and it is poised to grow by $ 1. 32 billion during 2022-2026, accelerating at a CAGR of 5.New York, July 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Automotive Event Data Recorder Market 2022-2026" - https://www.reportlinker.com/p04611128/?utm_source=GNW 86% during the forecast period. Our report on the automotive event dat

The National Crime Agency said the arrests would also help shake the reputation of the capital as ‘Londongrad’.

Global Artificial Intelligence In Healthcare Market Global Artificial Intelligence In Healthcare Market Dublin, July 22, 2022 (GLOBE NEWSWIRE) -- The "Artificial Intelligence In Healthcare Market Size, Share, and Trends Analysis Report by Component (Software Solutions, Hardware, Services), by Application (Virtual Assistants, Connected Machines), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The global artificial intelligence in healthcar

Britain risks becoming in thrall to Beijing due to its growing reliance on renewable energy, a new Lords report has warned.

A few dozen Russian retail investors handed in a letter to the country's second-biggest bank VTB on Friday asking for compensation for losses made on their foreign investments after Western sanctions were imposed earlier this year. In the letter, they said VTB - among the first Russian entities sanctioned after Moscow sent troops into Ukraine on Feb. 24 - closed operations for retail investors too quickly and so deprived them of a chance to sell their now-frozen assets.

Snap shares sank more than 30 percent early Friday following disappointing results as US stocks were mixed in the final session of a positive trading week.

CMP Slurry Market – Scope of Report This report on the global cmp slurry market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2022 to 2031.New York, July 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "CMP Slurry Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031" - https://www.reportlinker.com/p06293238/?utm_s

She has learning disabilities and her regular bank, where she gets help from staff, is closing this month

The start of the summer holiday getaway has been plunged into chaos after a critical incident was declared at the Port of Dover.

The dental consumables market is expected to grow from US$ 33,180. 13 million in 2022 to US$ 55,797. 40 million by 2028; it is estimated to grow at a CAGR of 9. 0% from 2022 to 2028. The rising incidence of dental problems, an increase in technological development in dentistry surgical instruments, and rising demand for dental cosmetic procedures are driving the growth of the dental consumables market.New York, July 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the repor

Operating Room Equipment Market – Scope of Report This report on the global operating room equipment market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2022 to 2031.New York, July 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Operating Room Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031" - htt

The Office for National Statistics said Government borrowing hit £22.9 billion, the second highest June since records began in 1993.

Air Cooled Heat Exchanger Market – Scope of Report This report on the global air cooled heat exchanger market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2022 to 2031.New York, July 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Air Cooled Heat Exchanger Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031" -

Dividends paid out by UK plc are not only higher than before the pandemic, but, most importantly, they are more robust, according to Clive Beagles, one of Britain’s best-known income fund managers. This will prove helpful if, or when, Britain enters into recession, he said.

Alzheimer’s Therapeutics Market Research Report by Diagnostics (Brain Imaging and CFS Test for Alzheimer’s Disease), Drug Class, Distribution, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19New York, July 21, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Alzheimer’s Therapeutics Market Research Report by Diagnostics, Drug Class, Distribution, Region - Global Forecast to 2027 - Cumulative

NS&I has raised interest rates on a range of its saver deals as pressure builds on banks to protect customers from inflation – but has left the promised prize rate on Premium Bonds untouched.

LONDON/TOKYO/NEW YORK (Reuters) -The global economy looks increasingly likely to be heading into a serious slowdown, just as the highest inflation in a generation prompts central banks to aggressively reverse the ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday. Business activity in the United States, the world's largest economy, contracted for the first time in nearly two years this month, activity in the euro zone retreated for the first time in over a year, and growth in Britain was at a 17-month low, purchasing managers' surveys said on Friday. In another ominous sign for the global economy, Japan's government is expected to sharply cut its forecast for domestic growth.

Ava Area strives to revolutionize the NFT world with their start-up. They do not sell digital images but sell fully animated 3D NFT avatars that can already be used in over 2000 metaverses, games and apps, and their 3D Battle Arena game.TRIQ TESTAFERRATA, MALTA, July 21, 2022 (GLOBE NEWSWIRE) -- The development of a 3D NFT avatar needs to go through a whole process. There are several stages to be surpassed to create an avatar and make it functional and animated. 3D NFT Avatars with animations ar

Sales dipped in June by 0.1%, the Office for National Statistics said.