LEHTONasdaq HelsinkiConstructionIFRS · EUR

Lehto Group Oyj

Lehto Group Oyj is a Finnish company transitioning from traditional construction to energy construction, focusing on energy storage solutions and energy efficiency in real estate. The company is undergoing a restructuring process to pivot towards energy construction, leveraging its expertise in managing energy imbalances caused by renewable energy sources. Lehto Group is listed on Nasdaq Helsinki, although trading is currently suspended. The company aims to develop its energy construction business, particularly in the areas of electricity storage and energy-saving solutions for buildings.

Revenue1.4m EUR
+24.6 %y/y
Operating profit (EBIT)-2.6m EUR
+53.7 %y/y
EBIT margin-193.5%
+327.7 ppy/y
Net income-2.3m EUR
+22.0 %y/y
Free cash flow-2.8m EUR
+52.3 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-1000100200300400500m EUR2021: 404 m EUR2021: EBIT -28 m EUR20212022: 345 m EUR2022: EBIT -42 m EUR20222023: 172 m EUR2023: EBIT -73 m EUR20232024: 1.1 m EUR2024: EBIT -5.7 m EUR20242025: 1.4 m EUR2025: EBIT -2.6 m EUR20251.4-2.6
RevenueOperating profit (EBIT)

Business

Share of revenue
Energy Storage40 %

Solutions for balancing electricity supply and demand

Real Estate Leasing30 %

Leasing of company-owned properties

Construction Components20 %

Manufacturing and sale of building components

Energy Efficiency Solutions10 %

Solutions to improve energy efficiency in buildings

Customers

Lehto Group's customers primarily include energy companies and real estate developers seeking to optimize energy usage and efficiency. The company's energy storage solutions are targeted at electricity market participants who need to balance supply and demand fluctuations. Real estate developers and property managers are key customers for Lehto's energy efficiency solutions, aiming to reduce energy costs and improve sustainability. Additionally, the company serves industrial clients needing construction components for various building projects.

Energy Companies

Purchase energy storage solutions to manage grid imbalances

Real Estate Developers

Use energy efficiency solutions to enhance building sustainability

Industrial Clients

Buy construction components for building projects

Strategy

Lehto Group's strategic priority is to transition from traditional construction to energy construction, focusing on energy storage and efficiency solutions. The company is undergoing a restructuring process to support this strategic shift, including divesting non-core assets and optimizing its operational structure. Lehto aims to leverage its expertise in energy management to capture market opportunities in the growing renewable energy sector. The strategic focus is on developing sustainable solutions that align with global energy trends and regulatory requirements.

Transition to Energy ConstructionMedium term

To align with market trends and regulatory requirements

Geography

Lehto Group is headquartered in Kempele, Finland, and its operations are primarily concentrated in Finland. The company owns manufacturing facilities in Oulainen and Hartola, although these are currently under negotiation for sale or lease. While the company's primary market is domestic, it is exploring opportunities in the broader European energy markets. The geographic focus is crucial as it aligns with the company's strategy to capitalize on the growing demand for energy solutions in regions with significant renewable energy adoption.

Risks

Lehto Group faces significant financial and operational risks due to its ongoing restructuring and transition to energy construction. The company has limited regular income streams, relying on asset sales and financing to meet its obligations. There is a risk of not securing sufficient funding for energy storage projects, which could impact its ability to execute its strategic plans. Additionally, the company is exposed to market risks related to fluctuations in energy prices and regulatory changes affecting the energy sector.

Sorted by severity
Insufficient Funding for ProjectsCritical

Limited income and reliance on asset sales

Energy Price FluctuationsHigh

Affects profitability of energy storage solutions

Accounting

Judgemental items
Revenue Recognition for Energy Solutions

Involves complex contract accounting

Valuation of Assets Held for Sale

Requires significant judgment

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026