KH Group Plc Stock Exchange Release 20 March 2026 at 8:45 am EET
H Group Plc’s Financial Statements Release for 1 January – 31 December 2025
This is the summary of the Financial Statements Release for 2025. The full Financial Statements Release is attached to this release and is also available on the company’s website at www.khgroup.com
A STRONG END TO 2025
KH Group, October–December 2025
Net sales amounted to EUR 63.3 (61.7) million.
Comparable operating profit was EUR 4.2 (3.4) million.
Operating profit was EUR 3.9 (3.1) million.
Net profit for the period from continuing operations was EUR 2.1 (2.7) million
Earnings per share (undiluted and diluted) from continuing operations were EUR 0.03 (0.04).
KH Group, January–December 2025
Net sales amounted to EUR 204.5 (194.0) million.
Comparable operating profit was EUR 6.4 (7.2) million.
Operating profit was EUR 5.2 (5.8) million.
Net profit for the period from continuing operations was EUR 1.0 (1.4) million.
Earnings per share (undiluted and diluted) from continuing operations were EUR 0.01 (0.02).
Equity per share at the end of the review period was EUR 0.86 (0.84).
Return on equity for rolling 12 months was 0.1% (-46.6%).
The Group’s cash and cash equivalents amounted to EUR 3.6 million at the end of the review period.
Gearing at the end of the review period was 137.5% (283.4%).
Gearing excluding lease liabilities was 117.8% (177.3%).
CEO Carl Haglund:
A strong end to the year
The year 2025 was a mixed period for our business operations. Both KH-Koneet and NRG faced challenging operating environments in the early part of the year. The volume of orders for rescue vehicles in Finland was lower than normal, at which stage we decided to adapt our operations and increase efficiency by commencing change negotiations at Saurus. However, in the summer, Saurus’ order book grew significantly when the Finnish Defence Forces placed a large order for 15 rescue vehicles, and a good number of orders was secured across the board during the second half of the year. In Sweden, the situation for Sala Brand was more stable and, by the end of the year, the order book for NRG as a whole had reached a record high.
For KH-Koneet, the early part of the year was somewhat subdued due to the sluggish market, but the direction changed during the autumn and the measures taken by the company drove sales growth during the latter part of the year. As a result, the fourth quarter turned out to be significantly better than anticipated for both KH-Koneet and NRG, and the negative profit warning issued in the early autumn turned into a positive profit warning in winter 2026. Due to the strong finish to the year, our net sales for 2025 amounted to EUR 204.5 million, representing year-on-year growth of 5%. Comparable operating profit amounted to EUR 6.4 million, representing a decrease of 11% when compared to 2024.
KH Group is transforming
Three years ago, KH Group began its strategic transformation from an investment company into an industrial group. This transformation is now in its final stages. The company was originally a listed private equity investment company. A couple of years ago, the company announced its aim of becoming a listed industrial conglomerate and changed its name from Sievi Capital to KH Group. The company subsequently divested the logistics operator Logistikas, the construction management company HTJ and, most recently, in autumn 2025, the furniture chain Indoor Group. With these exits, we are approaching the finish line in our transformation. Following the latest strategy update, the Group will have two business areas in the future: KH-Koneet, which focuses on the construction and earth-moving machinery trade, and Nordic Rescue Group, a manufacturer of rescue vehicles.
Focus on growing shareholder value
Following our strategic transformation and the divestments we have carried out, we can focus even more strongly on the development of KH-Koneet and NRG. Our strategy is underpinned by our goal of clarifying the Group’s operations and accelerating the growth of shareholder value. We will also strengthen our financial position, streamline our organisation and reduce costs.
Financial objectives and future outlook
KH Group updated its strategy in October 2025. According to the strategy published in December 2022, KH Group’s objective was to become an industrial group built around the KH-Koneet business and to divest other business areas in line with the Group’s strategy.
Following the strategy update, KH Group will not actively pursue the sale of Nordic Rescue Group. The KH-Koneet and NRG businesses will be developed as part of a group focusing on earth-moving equipment and rescue vehicles.
During the next few years, the aim is to invest in the growth of the core business and pay dividends within the limits established by the balance sheet structure and financing agreements.
The guidance for 2026 is as follows: the company expects both the net sales and the comparable operating profit to increase in 2026 compared to 2025.
The Board of Directors’ proposal for the distribution of profit and Annual General Meeting 2026
The Annual General Meeting 2025 resolved, in accordance with the proposal of the Board of Directors, that no dividend be distributed for the financial year that ended on 31 December 2024.
The parent company’s distributable funds on 31 December 2025 amounted to EUR 15,370,903.88. The Board of Directors proposes to the Annual General Meeting that no dividend be distributed for the past financial period. The profit distribution proposal of the Board of Directors takes into account the company’s liquidity situation at the time of making the profit distribution proposal and the expected cash flows during the new year.
KH Group Plc’s Annual General Meeting is scheduled for 5 May 2026. A notice of the Annual General Meeting will be published later as a stock exchange release.
Events after the review period
In February 2026, KH Group announced that Tuomas Myllynen will take up the post of CEO of KH-Koneet on 1 August 2026 at the latest. The leadership transition was initiated after the company’s long-standing CEO and co-founder Teppo Sakari announced his intention to step down during 2026 and continue as a strategic advisor to the company.
KH GROUP PLC
Crl Haglund CEO
FURTHER INFORMATION: CEO Carl Haglund tel + 358 040 500 6898
DISTRIBUTION: Nasdaq Helsinki Ltd Main media www.khgroup.com
KH Group Plc is a Nordic conglomerate operating in the business areas of KH-Koneet, Indoor Group and Nordic Rescue Group. We are a leading supplier of construction and earth-moving equipment, furniture and interior decoration retailer as well as rescue vehicle manufacturer. The objective of our strategy is to create an industrial group around the business of KH-Koneet. KH Group’s share is listed on Nasdaq Helsinki.
