Harju Elekter stock: Q3 margin improves despite weaker revenue
Published on 10/30/2026 at 02:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWhat the third-quarter update shows
- Third-quarter revenue declined year over year, while the operating margin improved sequentially and exceeded the company minimum target.
- Data-centre demand, a larger order book and expanded Keila capacity support a cautiously constructive outlook despite weaker nine-month earnings.
Harju Elekter reported lower third-quarter revenue but improved profitability compared with the first half of 2026. In its 22 October financial-results announcement, carried by Financial Times Markets data, the company said third-quarter revenue was EUR 41.0 million, down 4.8% from a year earlier.
Margin recovery remains incomplete
Operating profit was EUR 2.3 million, compared with EUR 3.8 million in the prior-year quarter. The operating margin nevertheless reached 5.7%, up from 5.3% in the first half and above Harju Elekter's minimum target of 5%. The company attributed continuing pressure to postponed projects, delayed customer-specific components and low workloads at some units, particularly its Lithuanian factory.
The nine-month figures show the scale of the earnings challenge. Revenue fell 6.6% to EUR 118.2 million, while operating profit declined to EUR 3.9 million from EUR 10.1 million. Net profit was EUR 1.6 million, compared with EUR 8.2 million a year earlier. Management said the decline in volumes had slowed and that sales were shifting toward the Nordic markets.
Data-centre orders lift the outlook
Harju Elekter said order intake was being supported by investment in data-centre infrastructure. During the third quarter, it signed a contract worth EUR 15.5 million to design and manufacture E-house solutions for a data centre in Finland. These factory-built modules combine power distribution and control systems and are intended to reduce on-site work.
A new 4,000-square-metre production facility in Keila was completed at the end of the quarter. The site is intended to produce electrical equipment and control solutions for data centres, while the group is also seeking to improve capacity utilization in Lithuania and shift its Finnish operations toward higher-value project business.
Share price and investor context
Lang & Schwarz showed Harju Elekter at EUR 5.22 on 29 October 2026 at 22:59:56 Berlin time, with a bid of EUR 5.04 and an ask of EUR 5.40. The displayed previous close was also EUR 5.22, so this quote provides no change in the reported snapshot. Investors can follow the real-time quote of Harju Elekter stock.
Harju Elekter Group
- ISIN: EE3100004250
- Listing: Nasdaq Tallinn
- Lang & Schwarz quote: EUR 5.22, dated 29 October 2026 at 22:59:56 Berlin time
- Bid / ask: EUR 5.04 / EUR 5.40
- Q3 2026 revenue: EUR 41.0 million
- Q3 2026 operating margin: 5.7%
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