Insider information: KH Group has initiated a sale process for Indoor Group and publishes preliminary results for 2024
KH Group Plc
Insider information 13 March 2025 at 10.00 p.m. EET
Insider information: KH Group has initiated a sale process for Indoor Group and publishes preliminary results for 2024
KH Group Plc ("KH Group" or the "Company") has 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.
As KH Group has previously announced, the Company’s strategy aims to create an industrial group focused on KH-Koneet business. To further this objective, the Company will seek to exit from other business areas at the optimal stage for value creation.
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.
In the 2024 financial statements, KH Group reports in accordance with Indoor Group's "IFRS 5 - Non-current Assets Held for Sale and Discontinued Operations" standard. KH-Koneet, Nordic Rescue Group and parent company will thus form the continuing businesses of KH Group in future.
According to unaudited preliminary information, the net sales of KH Group's continuing businesses (KH-Koneet, Nordic Rescue Group and parent company) in the last quarter of 2024 was EUR 61.7 million and comparable operating profit was EUR 3.4 million. For January–December 2024, the net sales from continuing operations were EUR 194.0 million and the comparable operating profit was EUR 7.2 million. According to unaudited preliminary information, Indoor Group’s net sales for the financial period 2024 were EUR 161.6 million and the comparable operating profit was EUR -1.6 million.
In KH Group's guidelines for 2024 issued on 9 August 2024, the Company estimated pro forma net sales for 2024 at EUR 340–360 million and pro forma operating profit at EUR 4–7 million, based on the then current Group structure (including KH-Koneet, Nordic Rescue Group and Indoor Group as continuing operations).
In connection with a reporting change related to Indoor Group divestment process, KH Group has assessed the fair value of Indoor Group's and as a result recognises a total write-down of approximately EUR 29 million for the financial year 2024.
KH Group will publish its financial statements release for 2024 on Friday, 21 March 2025.
KH GROUP PLC
FURTHER INFORMATION:
Juha Karttunen, Chairman of the Board, tel. 7
Ville Nikulainen, CEO, tel. 3
DISTRIBUTION:
Nasdaq Helsinki Ltd
Major media
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.
