SaunaNews
The Sauna Industry's Record of Note
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The fourteen new sauna SKUs at ThermaSol.com are built in Sastamala, Finland by Kirami, the wood-fired hot-tub maker Harvia bought in May 2021 for EUR 7 million plus a EUR 4 million earnout. The cabins ship in Europe under the Kirami FinVision® nameplate. ThermaSol's American product pages say 'designed and crafted in the U.S.A.' Kirami's product pages say 'designed and manufactured in Finland.' The price band runs from $30,393 for an indoor Lumaria Medium to $107,182 for the outdoor flagship Ombra. The American premium sauna market has been culturally Finnish for years. Harvia has now closed the loop.
Harvia shares surged nearly 15% on the Helsinki exchange on May 7 after the Finnish sauna manufacturer reported its highest-ever quarterly revenue: EUR 58.6 million in Q1 2026, up 12.7% year-over-year. At constant exchange rates, the growth was 18.3%. Three of four regions delivered double-digit gains, with North America up 21.1% in local currencies on top of 58.8% growth a year earlier. But beneath the headline numbers sits a Muurame IT cutover that will shift EUR 3-5 million from Q2 into Q3.
Announced alongside Harvia's Q3 2025 earnings on 6 November 2025, the ThermaSol Solaris is a fully off-grid solar-powered outdoor sauna that operates without a power connection. TIME Magazine named it one of the year's best inventions, a meaningful marketing win for Harvia's year-old ThermaSol acquisition and the first time any sauna product has landed on the TIME list.
ThermaSol introduced a refreshed North American sauna collection in Q3 2025: Astra, Fortis, and Ombra. The launch expands ThermaSol beyond its legacy steam shower and steam generator business into Harvia's core traditional sauna category, leveraging Harvia Group engineering and the ThermaTouch digital platform. Harvia confirmed the collection as part of its Q3 2025 results presentation on 6 November 2025.
Harvia's half-year financial review for January-June 2025 showed 16.0% total revenue growth at comparable exchange rates, with North America growing 35.1% on ThermaSol contribution and APAC & MEA growing 35.8%. Organic growth was 2.4%. Adjusted operating margin of 20.2% held within the long-term target band.
Harvia's first-quarter revenue surged 22.7% to EUR 52 million, driven by strong contributions from its ThermaSol steam acquisition and continued growth in both North American and European commercial markets.
Harvia closed 2024 with record Q4 revenue of EUR 51.0 million, up 29.3% year-over-year, and full-year revenue of EUR 175.2 million. ThermaSol, acquired in late July 2024, contributed meaningfully to North American growth. Adjusted operating margin of 19.3% hit Harvia's long-term target band.
Harvia's Q3 2024 interim report, published 7 November 2024, showed revenue of EUR 38.7 million, up 14.0% year-over-year (7.9% organic), with the first two months of consolidated ThermaSol revenue. Adjusted operating profit of EUR 8.9 million represented a 22.9% margin. Nine-month revenue reached EUR 124.3 million.
Harvia's H1 2024 half-year review, published 2 August 2024, reported Q2 revenue of EUR 43.2 million, up 20.7% year-over-year (20.1% organic). H1 revenue of EUR 85.5 million was up 10.9%, with adjusted operating margin of 22.8%. All four regions grew in H1 for the first time in two years. Twenty-one days before the print, Harvia had announced the USD 30.4 million ThermaSol acquisition.
Harvia Plc announced on 23 July 2024 that it had signed an agreement to acquire 100% of ThermaSol, a Round Rock, Texas manufacturer of residential steam showers, generators, and digital controls, for USD 30.4 million. The deal strengthens Harvia's US platform and adds a steam category where Harvia has been underweight.