KHGNasdaq HelsinkiConglomeratesIFRS · EUR

KH Group Oyj

KH Group is a profitably growing Nordic conglomerate that develops its business long-term to create value for its shareholders. The company is structured into three main business areas: KH-Koneet, Indoor Group, and Nordic Rescue Group (NRG). KH Group is undergoing a strategic transformation to focus on becoming an industrial group centered around the KH-Koneet business, which supplies construction and earthmoving equipment. The company's shares are listed on the Helsinki Stock Exchange.

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Revenue205m EUR
+5.4 %y/y
Operating profit (EBIT)5.2m EUR
−9.8 %y/y
EBIT margin2.5%
−0.4 ppy/y
Net income0.1m EUR
+100.2 %y/y
Free cash flow26.1m EUR
+244.2 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-1000100200300m EUR2021: 12 m EUR2021: EBIT 20 m EUR20212022: 0.00 m EUR2022: EBIT -10 m EUR20222023: 271 m EUR2023: EBIT -14 m EUR20232024: 194 m EUR2024: EBIT 5.8 m EUR20242025: 205 m EUR2025: EBIT 5.2 m EUR2025TTM 2026: EBIT 14 m EURTTM14
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Construction Equipment40 %

Includes sales and rental of construction and earthmoving machinery.

Furniture Retail35 %

Retail of furniture and interior products through Asko and Sotka chains.

Rescue Vehicles25 %

Manufacturing and supply of rescue vehicles.

Customers

KH Group serves a diverse range of customers across its business segments. The KH-Koneet division primarily caters to construction and property maintenance companies, offering both sales and rental of machinery. The Indoor Group targets retail consumers through its Asko and Sotka furniture chains, providing a wide range of home furnishings. Nordic Rescue Group supplies specialized rescue vehicles to emergency services and municipalities. The company's focus on quality and sustainability attracts customers looking for reliable and environmentally friendly solutions.

Construction and Property Maintenance

Buys and rents machinery for construction and maintenance tasks.

Retail Consumers

Purchases furniture and interior products from Asko and Sotka stores.

Emergency Services

Acquires rescue vehicles for operational needs.

Strategy

KH Group's current strategy involves transforming into an industrial group centered around the KH-Koneet business. This strategic shift aims to streamline operations and focus on core competencies in construction equipment. The company is also investing in expanding its product portfolio and geographic reach, particularly in Sweden. Sustainability and innovation are key strategic priorities, with a focus on developing environmentally friendly products and solutions.

Transformation into industrial groupMedium term

To focus on core competencies and streamline operations.

Geographic expansionLong term

To increase market presence and revenue in Sweden.

Sustainability and innovationShort term

To meet customer demand for eco-friendly products.

Geography

KH Group operates primarily in the Nordic region, with significant activities in Finland and Sweden. The company’s strategic focus includes expanding its market presence in Sweden, particularly in the construction equipment sector. Manufacturing and assembly operations for rescue vehicles are also concentrated in this region. The Nordic market's economic conditions and regulatory environment significantly influence the company's operations and growth prospects.

Risks

KH Group faces several business and financial risks, including market demand fluctuations and geopolitical uncertainties. The company's reliance on the Nordic market exposes it to regional economic conditions and regulatory changes. Additionally, the strategic shift towards focusing on KH-Koneet may involve execution risks and potential disruptions. Industry-specific risks such as supply chain disruptions and increased material costs also pose challenges. The company actively manages these risks through strategic planning and risk management frameworks.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market demand fluctuations1Execution risks in transformation2Geopolitical uncertainties3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market demand fluctuationsImpact: HighLikelihood: Medium

    Affects revenue and profitability.

  2. Execution risks in transformationImpact: HighLikelihood: Medium

    Potential disruptions during strategic shift.

  3. Geopolitical uncertaintiesImpact: MediumLikelihood: Medium

    Impact business operations and strategic decisions.

  4. Supply chain disruptionsImpact: Medium

    Lead to increased material costs.

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Accounting

Judgemental items
Revenue recognition timing

Affects the timing and amount of revenue reported.

Impact: high

Lease accounting (IFRS 16)

Impacts presentation of rental agreements.

Impact: medium

Alternative performance measures

Provide additional insights but lack comparability.

Impact: medium

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Last updated: 24/09/2026

KH Group Oyj (KHG) Revenue, Earnings & Financials 2025 – Clarifo