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Analyst Comment

Change negotiations for KH Group subsidiary Indoor Group concluded

By Thomas WesterholmAnalyst
KH Group

Translation: Original published in Finnish on 12/5/2024 at 7:17 am EET.

KH Group announced yesterday that its subsidiary Indoor Group had completed the change negotiations announced on August 15, 2024. The outcome of the change negotiations is that 162 employment relationships will be terminated in Indoor Group. The change negotiations are part of the company's operating model reform, which is expected to deliver at least 10 MEUR of annual EBIT improvement by the end of 2026.

As part of the efficiency program, Indoor Group will streamline its store network and renew its operating model by integrating neighboring Asko and Sotka stores. Greater integration of neighboring stores and the new ERP system introduced in the spring will enable the efficiency gains targeted by the new model. With a streamlined cost structure, we see the potential for Indoor to significantly improve earnings, but this will require headwinds from the very weak furniture market.

KH Group Plc is a Nordic corporation supporting sustainable construction and society’s critical functions with two business areas: KH-Koneet, supplier of construction and earthmoving machinery, and Nordic Rescue Group, rescue vehicle manufacturer. KH Group’s share is listed on Nasdaq Helsinki.

Read more on company page

Key Estimate Figures2024-11-04

202324e25e
Revenue403.2357.0359.5
growth-%-6.0 %-11.5 %0.7 %
EBIT (adj.)10.84.210.6
EBIT-% (adj.)2.7 %1.2 %3.0 %
EPS (adj.)0.12-0.020.00
Dividend0.000.000.00
Dividend %
P/E (adj.)6.5neg.155.0
EV/EBITDA6.34.34.4

Forum discussions

Asko and Sotka in Helsingin Sanomat (edit: moved behind a paywall) Helsingin Sanomat – 4 Mar 26 HS tutki | Asko ja Sotka johtivat asiakkaita...
16 hours ago
by JuhaR
4
Konepörssi magazine features a story about the long-term cooperation between HRK-Konevuokraamo and KH-Koneet. For those interested in reading...
2/27/2026, 8:14 AM
by Raha-aasi
7
Here are Thomas’s comments on the management change at KH-Koneet. On Friday, KH Group announced the appointment of Tuomas Myllynen as the CEO...
2/23/2026, 6:18 AM
by Sijoittaja-alokas
6
Based on the CV, it seems like a really good choice, but it’s naturally impossible to say how the chemistry works with the KH Koneet team and...
2/20/2026, 3:36 PM
by Lohis
17
I think it’s a good and appropriate choice. I’m satisfied and even somewhat relieved!
2/20/2026, 8:12 AM
by An Architect
8
Cramo’s Country Manager is the new CEO of KH-Koneet. The transition will take place by August 1, 2026, at the latest. Teppo Sakari will be available...
2/20/2026, 7:17 AM
by Raha-aasi
26
To mark the comprehensive report, a video about KH Group was filmed today. Tässä video: Inderes KH Group: Kahdet tulosvaroitukset ja yhdet hautajaiset...
2/19/2026, 2:41 PM
by Iikka Numminen
22
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