Harvia’s margins remain high, despite the majority of their products being handmade in Muurame. The reason for the expensive stock can be found by examining the market situation in the sauna and spa industry. This year, Harvia’s stock has increased in price by approximately 60 percent, with an even larger increase of over 80 percent compared to a year ago. The stock has a high p/e ratio of 35 based on last year’s results, indicating that investors are paying a premium for Harvia.
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