1. Estonia Stocks

  2. •

    Producer manufacturing

  3. •

    Electrical products
Harju Elekter Group AS

Harju Elekter Group AS

TTAL:HAE1T
5.24
EUR
-0.02
(-0.38%)
101.07MMarket Cap
Harju Elekter Group AS
TAL:HAE1T
(Nasdaq Tallinn)

Recent

price

5.24

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
EUR
2.43
2.78
3.09
2.78
2.91
3.46
3.45
5.72
6.81
8.08
8.26
8.56
9.67
11.39
9.44
9.4
- -
Revenue per Share
0.14
0.17
0.21
0.3
0.56
0.18
0.18
1.64
0.09
0.14
0.31
0.15
-0.31
0.28
0.17
0.58
- -
Basic EPS, GAAP
0.02
0.04
0.23
0.11
0.1
0.23
0.1
0.07
-0.48
0.09
0.12
-0.34
-0.33
- -
0.98
0.02
- -
Free Cash Flow per Basic Share
0.05
0.06
0.07
0.09
0.1
0.15
0.05
0.18
0.24
0.18
0.14
0.16
0.14
0.05
0.13
0.15
- -
Dividend per Share
2.62
2.4
2.85
3.59
3.36
3.27
3.4
3.94
3.77
3.78
4.15
4.83
4.35
4.87
4.92
5.34
5.12
Book Value per Share
2.59
2.37
2.83
3.57
3.05
2.96
3.09
3.56
3.37
3.37
3.74
4.41
3.95
4.47
4.48
4.8
4.56
Tangible Book Value per Share
17
17
17
17
17
18
18
18
18
18
18
18
18
18
18
19
19
Basic Weighted Avg Shares
41
47
53
48
51
61
61
102
121
143
147
153
175
209
175
174
- -
Sales/Revenue/Turnover
3.72
4.42
3.74
3.65
4.58
5.45
5.21
5.43
2.06
2.28
4.46
2.1
-2.57
3.9
3.99
6.25
- -
Operating Margin (%)
1
1
1
2
2
2
2
2
3
4
4
4
4
4
4
4
- -
Depreciation Expense
2
3
4
5
10
3
3
29
2
2
6
3
-6
5
3
11
- -
Net Income, GAAP
12.47
9.74
11.8
8.41
6.46
21.57
18.01
3.58
39.61
25.73
12.31
12.36
- -
15.02
22.33
5.79
- -
Effective Tax Rate (%)
5.61
5.94
6.66
10.69
19.16
5.26
5.26
28.69
1.28
1.72
3.79
1.7
-3.16
2.47
1.82
6.2
- -
Profit Margin (%)
7
6
8
10
17
12
10
32
18
15
15
14
8
13
13
15
11
Working Capital
2
2
1
1
1
1
1
3
5
8
7
11
21
23
20
15
15
LT Debt
46
42
50
64
60
58
60
70
67
67
73
87
79
90
91
99
95
Total Equity
3.15
3.79
3.47
2.66
3.25
4.21
4.22
7.55
1.86
2.86
6.25
2.64
- -
5.21
3.83
8.79
- -
Return on Invested Capital (%)
5.98
5.61
7.08
8.79
15.25
5.36
5.32
43.02
2.12
3.29
6.64
2.79
- -
5.44
3.82
9.62
- -
Return on Capital (%)
6.15
6.58
7.89
9.28
16.03
5.47
5.44
44.75
2.26
3.67
7.91
3.24
-6.66
6.09
3.51
11.36
- -
Return on Common Equity (%)

Capital Structure

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
15
13
20
LT Borrowings
14
14
14
LT Finance Leases
1
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
19
19
19
Market Capitalization
90
104
101

Working Capital

EUR

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
69
61
63
Cash, Cash Equivalents & STI
2
2
3
Accounts Receivable, Net
23
34
37
Inventories
20
22
20
Total Current Liabilities
54
45
52
Payables & Accruals
- -
- -
- -
ST Debt
15
13
20
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.78%
6.57%
8.6%
Free Cash Flow
-90,776.45%
-181,366.53%
-98.13%
Net Income, GAAP
53.78%
-71.72%
239.65%
Sales/Revenue/Turnover
12.81%
4.28%
-0.38%
Total Cash Common Dividend
29.98%
23.58%
15.38%

Quarterly Revenue

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
47
57
41
30
175
2025
37
46
- -
48
174
2026
35
42
- -
- -
- -

Quarterly Earnings Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.19
0.09
-0.12
0.17
2025
0.14
0.14
- -
0.14
0.58
2026
- -
0.01
- -
- -
- -

Quarterly Dividends Per Share

EUR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.13
2025
- -
- -
- -
- -
0.15
2026
- -
- -
- -
- -
- -
Similar Companies
Lumentum Holdings Inc. (NASDAQ:LITE)
GE Vernova Inc. (NYSE:GEV)
Eos Energy Enterprises, Inc. (NASDAQ:EOSE)
NuScale Power Corporation (NYSE:SMR)
Bharat Heavy Electricals Limited (NSE:BHEL)
Astor Enerji A.S. (BIST:ASTOR)
Business
Harju Elekter Group AS is an international industrial group that specializes in the engineering, design, manufacturing, and distribution of electrical power distribution equipment, automation systems, and electrification solutions. Founded in 1968 and headquartered in Keila, Estonia, the company operates across two principal business segments: Production, which encompasses the development and manufacture of electrical equipment, sheet metal fabrication, and contract manufacturing; and Real Estate, which manages industrial properties and technological parks in Estonia. The group operates manufacturing and engineering facilities across Estonia, Finland, Sweden, and Lithuania, serving energy utilities, distribution system operators, industrial manufacturers, maritime companies, renewable energy developers, transportation networks, and commercial infrastructure sectors. The company offers a comprehensive range of electrical systems and industrial services, including: medium- and low-voltage compact secondary substations; low-voltage distribution switchboards, switchgear systems, and power distribution cabinets; modular technical buildings, containerized substations, and custom-engineered E-Houses for utility and industrial applications; motor control centers, frequency converter drive units, and industrial automation control cabinets; electric vehicle charging stations and smart charging infrastructure; sheet metal enclosures, telecommunications cabinets, and fiber-optic cabling accessories; contract manufacturing services, including mechanical and electrical sub-assembly, wire harness fabrication, custom prototyping, and full-load electrical testing up to 4.3 MVA; and turnkey engineering, system integration, site installation, testing, and lifecycle maintenance services. In recent developments, Harju Elekter Group AS has undertaken significant operational and strategic reorganizations to streamline its corporate structure and enhance operational efficiency. The group has unified its regional operations and historical subsidiaries in Finland, Sweden, and Lithuania under the single Harju Elekter master brand, consolidating its Swedish production footprint and reorganizing its Finnish business units. Strategically, the company has expanded its engineering and production capacity for modular E-Houses and grid connection solutions tailored to utility-scale renewable energy projects, including solar parks, wind power developments, and battery energy storage systems. Additionally, the group has secured major multi-year framework contracts with leading Nordic and Baltic distribution network operators, including Caruna and Elektrilevi, for the supply of automated secondary substations, while divesting non-core minority financial holdings to focus core capital on electrical manufacturing and advanced engineering solutions.