Latest news with #KHGroup
Yahoo
12-05-2025
- Business
- Yahoo
KH Group: Indoor continues profitability improvement measures – the company will start change negotiations
KH Group PlcPress Release 12 May 2025 at 12:00 noon EEST KH Group: Indoor continues profitability improvement measures – the company will start change negotiations As a profitability improvement measure, Indoor Group will commence change negotiations in accordance with the Act on Co-operation in Undertakings covering employees in the support functions of Indoor and Insofa. The change negotiations will begin on 19 May 2025 and the scope of the negotiations will cover 84 employees. The number and targeting of possible layoffs and dismissals will be specified during the negotiations. The change negotiations seek measures to improve profitability by approximately EUR 2 million. The measures are part of an extensive operating model reform, which aims for an annual operating profit improvement of at least EUR 10 million by the end of 2026. 'Our aim is to renew management model, reorganize functions and improve profitability to build a solid foundation for the future of Indoor Group', says Kati Kivimäki, CEO of Indoor Group. 'During the first quarter, Indoor Group made an operating loss of EUR 2,5 million and in this situation these measures to improve profitability are necessary', adds Ville Nikulainen, CEO of KH Group. KH GROUP PLC Further information:CEO Ville Nikulainen, tel. +358 40 045 9343Indoor Group CEO Kati Kivimäki, tel. +358 46 876 1500 Distribution:Major KH Group Plc is a Nordic conglomerate operating in the business areas of KH-Koneet, Nordic Rescue Group and Indoor Group. We are a leading supplier of construction and earth-moving equipment, rescue vehicle manufacturer as well as furniture and interior decoration retailer. 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.
Yahoo
06-05-2025
- Business
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KH Group Plc's Business Review January–March 2025: Moderate growth and improving profitability
KH Group Plc Stock Exchange Release 6 May 2025 at 8:00 am EEST KH Group Plc's Business Review January–March 2025: Moderate growth and improving profitability This is the summary of the Business Review for January–March 2025. The full Half-Year Report is attached to this release and is also available on the company's website at KH Group, January–March 2025 IFRS Net sales amounted to EUR 41.8 (40.4) million. HTJ and Indoor have been retrospectively classified as discontinued operations. Comparable operating profit was EUR 0.2 (-0.1) million. Operating profit was EUR -0.1 (-0.5) million. Net profit for the period from continuing operations was EUR -0.4 (-1.7) million. Earnings per share (undiluted and diluted) from continuing operations were EUR -0.01 (-0.03). Equity per share at the end of the review period was EUR 0.85 (1.30). Return on equity for rolling 12 months was -43.4% (-19.2%). The Group's cash and cash equivalents amounted to EUR 4.5 million at the end of the review period. Gearing at the end of the review period was 291.3% (225.3%). Gearing excluding lease liabilities was 187.9% (141.6%). CEO Ville Nikulainen: "The Group's net sales and operating profit from continuing operations increased moderately year-on-year during the January–March review period. KH-Koneet's net sales and operating profit increased in both Finland and Sweden in spite of the weakened market situation. Sales of heavy crawler excavators in Finland, in particular, grew significantly year-on-year. Nordic Rescue Group's net sales declined, but operating profit for the first quarter was on a par with the comparison period. The financial situation of the wellbeing services counties became clearer after the turn of the year and, as a result, the order book for Nordic Rescue Group's operations in Finland strengthened during the review period. In Sweden, the demand for rescue vehicles has remained at a good level. In Indoor Group, the general uncertainty in the market continued to have a negative impact on net sales and operating profit. The extensive operating model reform programme to improve Indoor Group's profitability targets an annual improvement in operating profit of at least EUR 10 million by the end of 2026. A significant part of the targeted profitability improvement is estimated to be realised already during 2025. The change negotiations concluded in December 2024 will generate annual savings in wage costs of approximately EUR 6–7 million, which will improve the company's result significantly already during the second quarter. As a strategic measure, KH Group announced in March 2024 that it had initiated a sale process for Indoor Group. KH Group has engaged a financial advisor to explore various options for its Indoor Group shareholding. No final decision has been made on the sale of Indoor Group holdings and there is no certainty as to the timing, terms or completion of any such transaction. KH Group aims to complete the process during 2025. Another strategic step was completed in March 2025 as KH Group acquired the remaining KH-Koneet Group Oy minority shares in accordance with the shareholder agreement and KH-Koneet is now a fully-owned subsidiary of KH Group. The purchase price of the shares was EUR 2.0 million. In 2025, the business areas will focus on securing net sales and operating profit as well as improving the efficiency of working capital. KH Group's change in strategy is being advanced according to plan." Events after the review period The Board of Directors of KH Group Plc decided to establish a performance-based share scheme for key employees of KH-Koneet. The plan replaces the performance-based matching share plan announced on 31 May 2024. The purpose of the new scheme is to align the goals of shareholders and key employees in order to increase the company's shareholder value in the long term, guide the key employees to achieve the company's strategic objectives, engage their commitment to the company and offer them a competitive incentive scheme based on the earning and accrual of KH Group shares. The performance-based share scheme has one (1) performance period of two (2) years, corresponding to the financial periods 2025–2026. The scheme provides key employees with the opportunity to earn KH Group shares based on performance Financial objectives and future outlook KH Group's objective is to become an industrial group built around the KH-Koneet business and to divest other business areas in line with the Group's strategy. At the same time, active developments will continue regarding other business areas. Exit planning and the assessment of exit opportunities for the other business areas will also continue. During the next few years, the aim is to invest in the growth of the core business and pay dividends after significant exits within the limits established by the balance sheet structure and financing agreements. The guidance with the current Group structure of continuing operations for 2025 is as follows: the company estimates that both the net sales (EUR 194.0 million) and the comparable operating profit (EUR 7.2 million) will remain approximately at the same level year-on-year. KH GROUP PLC Ville NikulainenCEO FURTHER INFORMATION: CEO Ville Nikulainen, tel. +358 400 459 343 DISTRIBUTION:Nasdaq Helsinki LtdMajor KH Group Plc is a Nordic conglomerate operating in the business areas of KH-Koneet, Nordic Rescue Group and Indoor Group. We are a leading supplier of construction and earth-moving equipment, rescue vehicle manufacturer as well as furniture and interior decoration retailer. 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. Attachment KH Group Plc - Business Review Q1_2025Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
27-03-2025
- Business
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KH Group's Annual Report 2024 published
KH Group Plc Stock exchange release 27 March 2025 at 11:40 am EET KH Group's Annual Report 2024 published KH Group has published its Annual Report for 2024 today. The Annual Report includes the Board of Directors' Report, Financial Statements, Auditor's Report as well as the Corporate Governance Statement and the Governing Bodies' Remuneration Report. The Financial Statements are also published as an xHTML file in Finnish language in accordance with European Single Electronic Format (ESEF) reporting requirements. In line with the ESEF requirements, the Group's primary statements and notes have been labelled with XBRL tags. The audit firm Ernst & Young Oy has provided an independent auditor's reasonable assurance report on the ESEF Financial Statements in accordance with ISAE 3000 (Revised). The Annual Report, Corporate Governance Statement and the Governing Bodies' Remuneration Report as well as the xHTML file are available on the Company's website at and attached to this release. KH GROUP PLC FURTHER INFORMATION: CEO Ville Nikulainen, tel. +358 400 459 343 DISTRIBUTION: Nasdaq Helsinki LtdMain 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. Attachments KH Group Annual Report 2024 Corporate Governance Statement 2024 Remuneration Report 2024 743700F6CLX8JMYDEP21-2024-12-31-fiSign in to access your portfolio
Yahoo
21-03-2025
- Business
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KH Group Plc's Financial Statements Release for 1 January – 31 December 2024: Net sales increased – profitability declined; Sale process for Indoor Group initiated
KH Group Plc Stock Exchange Release 21 March 2025 at 8:00 EET KH Group Plc's Financial Statements Release for 1 January – 31 December 2024 Net sales increased – profitability declined;Sale process for Indoor Group initiated This is the summary of the Financial Statements Release for 2024. The full Financial Statements Release is attached to this release and is also available on the company's website at KH Group announced on 13 March 2025, that it has initiated a sale process regarding its shareholding in Indoor Group. In this Financial Statements Release, Indoor Group is reported in accordance with "IFRS 5 - Non-current Assets Held for Sale and Discontinued Operations" standard. The continuing operations include the business areas KH-Koneet and Nordic Rescue Group. KH Group, October–December 2024 pro forma Net sales amounted to EUR 61.7 (50.5) million. Operating profit was EUR 3.4 (3.5) million. KH-Koneet's net sales increased, but profitability declined slightly year-on-year. NRG's net sales and operating profit were above the level of the comparison period. KH Group, January–December 2024 pro forma Net sales amounted to EUR 194.0 (190.6) million. Operating profit was EUR 7.2 (8.1) million. KH Group, January–December 2024 reported IFRS Net sales amounted to EUR 194.0 (124.0) million. The figure for the comparison period includes net sales accumulated in May–December 2023. HTJ and Indoor have been retrospectively classified as discontinued operations. Operating profit was EUR 5.8 (-6.7) million. Net profit for the period from continuing operations was EUR 1.4 (-10.4) million. Earnings per share (undiluted and diluted) from continuing operations were EUR 0.02 (-0.18). Equity per share at the end of the review period was EUR 0.84 (1.36). Return on equity for rolling 12 months was -46.6% (-17.5%). The Group's cash and cash equivalents amounted to EUR 9.8 million at the end of the review period. Gearing at the end of the review period was 283.4% (195.4%). Gearing excluding lease liabilities was 177.3% (116.7%). Proposal for the distribution of profit 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, expected cash flows during the new year and the investments required by the change in strategy. CEO Ville Nikulainen: "KH Group divested HTJ in July 2024 in line with its strategic direction. In March 2025 KH Group informed about initiating the Indoor Group sale process. The Group's pro forma net sales increased, and operating profit decreased in the review period year-on-year in October–December. KH-Koneet's net sales increased in both operating countries, but operating profit was lower than in the comparison period. Nordic Rescue Group's pro forma net sales and operating profit increased year-on-year during the fourth quarter. The demand for rescue vehicles in Sweden has remained at a good level but, in Finland, the budgeting phase of the wellbeing services counties has slowed down the realisation of new orders during last autumn and winter. For Indoor Group, the general market uncertainty and the increase to the general value-added tax rate in Finland had a negative impact on net sales and operating profit. In August 2024, KH Group announced the launch of an extensive operating model reform programme aimed at improving the group company Indoor Group's profitability. The reform includes development initiatives to stabilise Indoor Group's financial situation in the challenging furniture industry market environment. The company aims for an annual operating profit improvement of at least EUR 10 million by the end of 2026. Based on current information, a significant part of the targeted profitability improvement is estimated to be realised already during 2025. KH Group published a press release concerning the reform of Indoor Group's operating model and change negotiations in December 2024. The outcome of the change negotiations was that 162 employment relationships will be terminated in Indoor Group. In 2025, the business areas will focus on securing net sales and operating profit as well as improving the efficiency of working capital. KH Group's change in strategy is being advanced according to plan.' Events after the review period In March 2025 KH Group acquired the remaining KH-Koneet Group Oy minority shares in accordance with the shareholder agreement. As a result, KH-Koneet is a fully owned subsidiary of KH Group Plc. The share purchase price was EUR 2.0 million. On 30 September 2024, Indoor Group did not fulfil the covenants of its financing agreement, after which the company has negotiated with the financing provider on updating the financing agreement. In December 2024, Indoor Group signed an agreement with the financing provider, according to which the financing provider will not demand the repayment of loans despite the breach of covenants provided that certain conditions are met. According to the agreement, KH Group granted Indoor Group a shareholder loan of EUR 1.0 million in January 2025. After the end of the financial period, the agreement with the financing provider has been extended in steps until 31 May 2025, and the parties have negotiated on the financing agreement terms for the sale process period. On 13 March 2025 KH Group announced to have initiated a sale process regarding its shareholding in Indoor Group Holding Oy ("Indoor Group"), of which the Company owns 58.3 per cent. KH Group has engaged a financial advisor to explore various options for its Indoor Group shareholding. No final decision has been made on the sale of Indoor Group holdings and there is no certainty as to the timing, terms or completion of any such transaction. KH Group aims to complete the process during 2025. The Company will communicate the matter in accordance with the applicable rules on the basis of its possible progress. Future outlook KH Group's objective is to become an industrial group built around the KH-Koneet business and to divest other business areas in line with previous strategy. At the same time, active developments will continue regarding other business areas. Exit planning and the assessment of exit opportunities for the other business areas will also continue. During the next few years, the aim is to invest in the growth of the core business and pay dividends after significant exits within the limits established by the balance sheet structure and financing agreements. The guidance with the current Group structure of continuing operations for 2025 is as follows: the company estimates that both the net sales (EUR 194.0 million) and the comparable operating profit (EUR 7.2 million) will remain approximately at the same level year-on-year. Results presentation webcast KH Group will organise a result briefing in Finnish for analysts, investors and the media on 21 March at 1:00 pm in Studio Eero at Sanomatalo. You can follow the live webcast at . The presentation material and webcast recording will be available on the same day on KH Group's website. KH GROUP PLCVille NikulainenCEO FURTHER INFORMATION:CEO Ville Nikulainen, tel + 358 400 459 343 DISTRIBUTION:Nasdaq Helsinki LtdMain 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. Attachment KH Group Plc - Financial Statements Release Q4_2024Sign in to access your portfolio
