Inside information: KH Group has sold its shares in Indoor Group and agreed on financing arrangements related to the sale

KH Group Plc

Inside information 20 November 2025 at 9:45 am EET

Inside information: KH Group has sold its shares in Indoor Group and agreed on financing arrangements related to the sale

KH Group Plc (“KH Group" or the "Company") has signed an agreement to sell all its shares in Indoor Group Holding Oy ("Indoor Group") to a company controlled by Indoor Group’s CEO Kati Kivimäki. The transaction was completed today, 20 November 2025, and with it, KH Group has achieved its strategic objective to exit its Indoor Group investment during 2025.

The shares subject to the transaction comprise 58.3 per cent of all shares in Indoor Group, and a nominal purchase price has been paid to the Company for them. In addition, the Company has in connection with the transaction agreed on a financing arrangement in which Indoor Group as a whole has been valued at an enterprise value of EUR 26 million, taking into account Indoor Group’s interest-bearing net debt, excluding lease liabilities. In the financing arrangement, KH Group has repaid Indoor Group's debt to the financing bank by EUR 2.0 million and forgiven the receivable from Indoor Group resulting from said repayment as well as other loan receivables from Indoor Group totalling EUR 3.5 million, of which the Company had already previously written down a portion equal to EUR 2.4 million.

Indoor Group’s prolonged challenges and the uncertainty related to its financial position have had a negative indirect impact on the opportunities for developing the financing of KH Group’s other businesses. Following the sale of Indoor Group, KH Group advances the renewal of the Group’s financing structure in a manner that supports the implementation of KH Group’s strategy.

As a result of the transaction, KH Group will record a loss of EUR 3.3 million in total in the result for the financial year 2025 after the deduction of costs related to the transaction. Since its financial statements for 2024, KH Group has reported Indoor Group in accordance with the “IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations” standard. The transaction has no impact on KH Group’s profit guidance for the financial year 2025, which has been issued regarding the Company’s continuing operations.

“KH Group’s communicated objective has long been to exit from Indoor Group, and the realisation of this goal is a significant step for us. With this transaction, new opportunities will open up for us to develop the Group focusing on earth-moving machinery (KH-Koneet) and rescue vehicles (Nordic Rescue Group). The arrangement is the best available option from the perspective of our shareholders, because this way we can move forward quickly in the execution of our strategy and in seeking new alternatives to strengthen our financing position,” states KH Group’s Chairman of the Board Juha Karttunen.

“KH Group’s negotiating position regarding the arrangement of future financing is now decisively improved. We are better able to direct our resources to the development of our core businesses and to build a stronger financial foundation for the future. We believe that the arrangement provides Indoor Group with good preconditions to continue its operations. Indoor Group’s balance sheet position will improve, and its significant owner will be the CEO who already knows the company,” says Carl Haglund, CEO of KH Group.

KH GROUP PLC

Further information:

CEO Carl Haglund, tel. 8

KH Group in brief:

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 earth-moving machinery, and Nordic Rescue Group, rescue vehicle manufacturer. KH Group’s share is listed on Nasdaq Helsinki. More information at .