Harju Elekter Group financial results, 1-3/2026
View original at globenewswire.com“Profit for the period 192,636-99.3% (table header: "(EUR´000)"; the 2026 column reads 19)”
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The order books of both Estonian and Swedish units are higher than average, and the volume of orders under tender provides basis to assume significant portion will materialize as revenue during current financial year
60% confidenceThe majority of results from Estonian, Swedish, and Finnish units will manifest in the second and third quarters when delivery of substations to customers under framework agreements commences
60% confidenceThe primary reason for weak financial performance was disruptions in the supply chain with delayed or postponed deliveries of materials and components causing order fulfillment to shift into future periods
60% confidenceThe weakening of the Swedish krona had a strong negative impact on both operating and net profit since a large portion of sales in Sweden takes place in local currency
60% confidenceThere have been no cancellations of orders so far, but caution can be sensed in customer behavior
60% confidenceThe company approaches the year as a whole with moderate optimism but also with caution, as there are several signs of a potential new crisis
60% confidenceGeopolitical tensions in the Middle East affect Harju Elekter mainly indirectly through global supply chain, logistics, and input prices, extending delivery times and increasing freight costs
60% confidenceRapid cost reduction is not possible without risking the ability to respond quickly to a subsequent increase in demand
60% confidenceThe pass-through of price increases to customers occurs through indexing in framework agreements, but due to long ordering and production cycle, the positive effect on results will only reach financial statements with a lead time of one to two quarters
60% confidenceThe first quarter of Harju Elekter proved significantly more challenging than anticipated, and the results did not meet expectations
60% confidenceThe low sales of the Lithuanian unit and resulting high level of idle production capacity remain a problem, pointing to market challenges and need for more efficient sales activities
60% confidenceLong delivery times will soon be joined by price increases for materials and components, with initial signals and new price lists received from suppliers
60% confidence