Harju Elektri’s new growth pillar is components for data centers, where the end customers are technology giants such as Meta, Google and Microsoft, said the company’s manager and industrialist of the year nominee Alvar Sass.
“When we talk data center‘ites (data centers – ed.) and all that, the pace is fierce there, so Harju Elekter definitely wants to take part there,” said Sass. According to him, this direction already brings 15% of the company’s turnover, and in the future it may even grow to half.
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Harju Elekter Group’s third quarter results disappointed the analysts of LHV Bank — the price target was lowered, but the recommendation to buy the stock remained.
The big layoff gets rave reviews
The share of Harju Elektri, which announced this morning a half smaller profit compared to a year ago, fell almost 3 percent after the day, but both the company’s manager and shareholders believe that it will not get worse.
The stock fell 2.64%
For Harju Elektri, listed on the Tallinn Stock Exchange, the order volume continued to fall in the third quarter, which is why the company has laid off 115 employees during the year.
Source: www.aripaev.ee