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Source document· April 23, 2026

Harju Elekter Group financial results, 1-3/2026

View original at globenewswire.com

“Key indicators table: Profit for the period (Q1 2025 column) = 2,636 (EUR '000), with a -99.3% change versus Q1 2026's 19 (EUR '000)”

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Rapid cost reduction is not possible without risking the ability to respond quickly to a subsequent increase in demand
60% confidence
The first quarter of Harju Elekter proved significantly more challenging than anticipated, and the results did not meet expectations
60% confidence
Long 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
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% confidence
Geopolitical 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% confidence
The 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% confidence
The 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% confidence
The 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% confidence
The 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% confidence
The 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% confidence
There have been no cancellations of orders so far, but caution can be sensed in customer behavior
60% confidence
The 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% confidence