Harvia

What Harvia does

Harvia Oyj is the leading global player in the sauna market, founded in 1950 in Muurame, Finland, and listed on Nasdaq Helsinki (ticker HARVIA) since its March 2018 IPO. The company designs, manufactures, and sells electric and wood-burning sauna heaters, infrared and steam saunas, control panels, hot tubs, cold plunges, and related accessories under five retained brands: Harvia (mass-market core), EOS (premium and professional German equipment), Almost Heaven Saunas (US-made traditional saunas, acquired 2018), Kirami (Finnish wood-fired hot tubs, acquired 2021), and ThermaSol (US premium steam, acquired July 2024). Harvia also operates Harvia Japan Ltd. as a joint venture with Bergman Ltd. (formed March 2024) to serve the Japanese market.

The company's revenue model is overwhelmingly one-time equipment sale through B2B dealer/distributor networks across nearly 100 countries, complemented by direct-to-consumer webstores (launched in Germany and Austria in Q1 2026), Harvia shop-in-shop retail (six locations in Sweden), and project sales for hospitality and wellness facilities. FY2025 revenue was EUR 198.9 million (+13.5% YoY), with Q1 2026 revenue reaching an all-time high of EUR 58.6 million (+12.7% YoY, +18.3% at constant currency). Profitability is strong at 19.3% reported operating margin in 2025 and 22.0% adjusted operating margin in Q1 2026, with leverage at 1.0x net debt/EBITDA. The company employs 761 professionals across Finland, the United States, Germany, Romania, China/Hong Kong, Austria, Italy, Sweden, and Japan, and operates manufacturing in Finland, Romania, China, and West Virginia.

Recent strategic emphasis is on US market consolidation via ThermaSol, APAC expansion via the Japan JV, sustainability-led product innovation (Solaris by ThermaSol — first off-grid solar-powered sauna, TIME Best Inventions 2025), connected controls (Harvia Fenix full-touch panel), and a structured R&D pipeline through a June 2026 cooperation with University of Jyväskylä, JAMK, and Gradia. Growth has been driven by heating equipment (+21.0% in Q1 2026), North America (+21.1% local currency), and APAC & MEA (+29.7%), supported by disciplined acquisitions and full ownership of premium brand EOS since 2022.

Name

Harvia

Legal name

Harvia Oyj

Website

https://harviagroup.com

Company type

Public

Founded year

1950

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Harvia is the leading global sauna company, designing and manufacturing electric and wood-burning heaters, infrared and steam saunas, and wellness hardware under five brands (Harvia, EOS, Almost Heaven Saunas, Kirami, ThermaSol) for residential, professional, and hospitality customers across nearly 100 countries.

Ownership category

akta.pro rank

Product category

Sauna and Spa Equipment

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)

akta.pro secondary industry

Thermal Baths, Hot Springs & Saunas (Onsen, Hammams, Banya, Sauna Worlds) (THAJAHAD)

Keywords

• Sauna heaters
• Infrared saunas
• Steam generators
• Sauna control panels
• Hot tubs and cold plunges

Headquarters

HQ city

Muurame

HQ country

Finland

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Sauna Heating Equipment Sales: Sale of electric and wood-burning sauna heaters and components, Harvia's largest product group representing significant revenue share
2. Complete Sauna Solutions: Full sauna packages including traditional, infrared, and steam saunas for residential and commercial use
3. Steam Products: Steam generators and steam shower solutions, particularly strong in North American market through ThermaSol brand
4. Scandinavian Hot Tubs / Spas: Hot tubs and cold plunge products through brands like Kirami and Almost Heaven Saunas
5. Digital Control Centers and Accessories: Digital control panels, sauna accessories, interior decorations and installation accessories

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels4 records

Core offering

Harvia manufactures and sells electric and wood-burning sauna heaters, infrared and steam saunas, digital control panels, hot tubs, cold plunges, and related sauna/spa components. The company serves both residential consumers and commercial/institutional customers (hotels, spas, fitness centers) through five brands: Harvia, EOS, Almost Heaven Saunas, Kirami, and ThermaSol. Its product range spans heaters and components through complete turnkey sauna installations.

Product overview

Harvia is a leading global sauna company with a comprehensive product portfolio comprising five well-known brands. The core Harvia brand offers a full range of sauna solutions from heaters and components to complete sauna installations, including traditional, infrared, and steam saunas. This is complemented by EOS (premium/professional equipment), Almost Heaven Saunas (North American consumer saunas), Kirami (Finnish wood-fired hot tubs and outdoor saunas), and ThermaSol (U.S. premium steam solutions). The company's heating equipment is its largest product group, with electric and wood-burning stoves (kiuas) as key offerings alongside steam generators, control panels, and accessories.

Differentiator

Problem solved

Functional benefit

Brands

• Harvia: World's leading brand offering sauna and wellness experiences for everyone – from basic products to premium. Founded in 1950, it is one of the most well-known sauna brands globally, offering high quality, good price-quality ratio, and excellent functionality. Product range covers traditional, infrared and steam saunas, electric and wood-burning heaters, hot tubs and cold plunges, sauna interiors, spa modules, digital control centers, and various sauna accessories.
• EOS
• Almost Heaven Saunas
• Kirami
• ThermaSol

Quantifiable outcome

• Revenue grew 12.7% to EUR 58.6 million in Q1 2026 (all-time high), all organic growth
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• University of Jyväskylä, JAMK University of Applied Sciences, and Jyväskylä Educational Consortium GradiacoreStrategic or Co-development Partner · 9 June 2026Strategic cooperation agreement signed June 9, 2026 to combine education, research, and industry collaboration for innovations in wellbeing, technology, and sustainable lifestyles. Joint projects will focus on energy-efficient solutions, smart manufacturing, new materials, digital customer experiences, and sustainability-related innovations. Students and researchers will work alongside Harvia experts on R&D projects. Partnership aims to strengthen Central Finland's position as an innovation hub.
• Bergman Ltd.coreStrategic or Co-development Partner · 1 March 2024Finnish sauna manufacturer Harvia Plc formed a joint venture with Bergman Ltd. to establish Harvia Japan Ltd. for sales and marketing of sauna and spa products in the Japanese market. Japan is one of the largest sauna markets in the Asia-Pacific region.
• Almost Heaven SaunascoreOthersFounded 1977 and headquartered in West Virginia, Almost Heaven Saunas is backed by Harvia Group (Finnish sauna technology firm). The company launched home contrast therapy products (Auburn IR Hybrid Sauna and Glacier Cold Plunge) powered by Harvia heating systems. Grammy-nominated artist Jelly Roll serves as promotional partner using the equipment on national tour.
• ThermaSolcoreOthersThermaSol is a leading premium steam shower and steam sauna manufacturer in the United States, acquired by Harvia in July 2024. ThermaSol launched Solaris, the first fully solar-powered sauna, as part of the Harvia family of brands, specifically tailored for the U.S. market. Solaris was named TIME's Best Invention of 2025.
• Jelly RollminorGTM or Marketing PartnerGrammy-nominated artist Jelly Roll serves as promotional partner for Almost Heaven Saunas home contrast therapy products, using the equipment on his national tour.
• EOS GroupcoreOthersGerman company EOS has operated in the sauna industry for over 80 years. Harvia acquired majority stake in EOS in spring 2020 and the remaining minority share in summer 2022. EOS products include professional and premium heaters, gas heaters, control centers, steam generators, infrared devices and accessories.
• KiramicoreOthersFinnish family company founded in 2001, specializing in wood-heated hot tubs (paljut) and outdoor saunas. Harvia acquired Kirami in May 2021. Product range includes accessories, water hygiene products, outdoor saunas and other garden products. 2024 innovation includes Kirami FinVision Zero, world's first solar-powered outdoor sauna.
• Deloitte OyminorOthersDeloitte Oy serves as Harvia's auditor, providing limited assurance on Harvia's 2025 financial and sustainability statements.

Scale indicators19 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Pentair plc: Global water treatment and pool/spa equipment manufacturer with a meaningful hot tub and spa components business. Adjacent incumbent relevant to Harvia's water-related product lines (Kirami hot tubs, steam generators).
• Jacuzzi Inc. Iconic US hot tub, spa, and swim spa manufacturer with broader wellness product portfolio. Overlaps with Harvia's Kirami and Almost Heaven hot tub/cold plunge lines but addresses a much wider product set.

Direct peers

• TyloHelo: Swedish-owned (Emerson Electric) manufacturer of sauna heaters, controls, and complete sauna rooms. A direct peer in traditional sauna heating technology, particularly in Northern Europe and North America.
• Effegibi: Italian manufacturer of steam rooms, saunas, and wellness solutions for residential and hospitality markets. Comparable to Harvia's steam and sauna offerings in Continental Europe, especially in hotel/hospitality installations.
• Mr.Steam: US manufacturer of residential and commercial steam shower systems. Direct competitor to Harvia's ThermaSol brand in the US premium steam segment, with similar customer profile and channel mix.
• Watkins Manufacturing (Hot Spring Spas): Leading US hot tub manufacturer operating the Hot Spring Spas, Caldera, and Freeflow brands. Direct competitor to Harvia's Kirami and Almost Heaven hot tub products in the North American residential market.
• Klafs: Germany-based premium sauna, spa, and steam manufacturer with a broad professional and residential portfolio. Closely comparable to Harvia's EOS brand and Harvia's overall premium/professional segment, competing head-to-head in Continental Europe.
• Bullfrog Spas: US-based premium hot tub manufacturer with patented JetPak therapy system. Comparable to Kirami and Almost Heaven offerings in the premium hot tub segment of North America.

Emerging players

• Sun Home Saunas: US-based direct-to-consumer infrared sauna brand targeting home wellness buyers. Emerging peer overlapping with Harvia's infrared and DTC initiatives in the US residential wellness category.
• Clearlight Infrared Saunas: US-focused infrared sauna specialist offering premium residential and commercial infrared cabins. Competes with Harvia's infrared sauna lines (including the Auburn IR Hybrid) in the wellness-focused consumer segment.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/harviagroup
• Facebookfacebook.com/harviaglobal
• LinkedInlinkedin.com/company/harvia-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harvia