REG-Harju Elekter Group financial results, 1-9/2026

In the third quarter of 2026, Harju Elekter Group generated sales revenue of 41 million euros, approximately 5% lower than in the corresponding period last year. While sales volumes have not yet reached the desired level, the quarter was the strongest of the year in terms of profitability. Operating profit amounted to 2.3 million euros, and the operating margin increased to 5.7%, exceeding the Group’s minimum target level of 5%.

Profitability continued to be affected by projects that had previously been postponed, the execution of which depends, among other factors, on the delivery of certain customer-specific components. As a result, the realization of part of the planned production volumes was once again delayed. At the same time, workload remained below expectations in several units, particularly at the Lithuanian factory, due to a shortage of orders. In Finland, the key challenge has been growing the project business at the desired pace. Although the economic environment is showing gradual signs of recovery, the volume of higher value-added projects has not yet reached the level envisaged in our targets. Compared to the strong comparative base of the previous year, profitability remained more modest; however, the growth in the order book and improved utilization of production capacity provide grounds for a more positive outlook for the coming periods.