The Estonian electrical equipment manufacturer Harju Elekter Group, which also operates in our country, presented the results of its last quarter. Revenues rose marginally, while net profit jumped significantly due to lower cost of goods sold and lower other expenses. During today's trading session, its shares on the Tallinn Stock Exchange increase in price: Harju Elekter 4.84 (2.11%) .
In the second quarter of this year, the total income of this group reached 56.801 million. euros, while a year ago in the same period it amounted to 56.762 million. euros, i.e. they increased by 0.1 percent.
Meanwhile, Harju Elekter Group's cost of sales decreased during the mentioned period, as well as administrative and other expenses, which led to an increase in EBITDA profit by 68.1 percent to 5.45 million. euros, and the net profit jumped almost four times to 3.467 million due to reduced financial costs. euros.
In total, after the first half of this year, the income of this group reaches 103.577 million. euros, or 1.5 percent more than a year ago during the same period. EBITDA profit grew by 31.3 percent to 7.389 million. euros, and the net – more than doubled from 1.633 to 3.827 million. euros.
Since the beginning of this year, the share price of Harju Elekter Group has fallen by about three percent, and in the last one year – by 3.6 percent. For comparison, the value of the OMX Tallinn GI index fell by 1.4 percent and 7.9 percent, respectively.