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Research

KH Group: It will do

By Thomas WesterholmAnalyst
KH Group
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The revenues of KH Group’s subsidiaries were under pressure as expected, but earnings developed favorably despite the challenges in the business environment. The result day was crowned by the announcement that Indoor Group’s Estonian property has been sold, which helps the company strengthen its leveraged balance sheet. With forecast changes, the value indicated by our sum of the parts calculation rose to EUR 1.04. We raise our target price to EUR 0.95 and reiterate our Accumulate recommendation.

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 Figures22.03.2024

202324e25e
Revenue403.2398.1415.7
growth-%-6.0 %-1.3 %4.4 %
EBIT (adj.)10.814.319.0
EBIT-% (adj.)2.7 %3.6 %4.6 %
EPS (adj.)0.12-0.000.09
Dividend0.000.000.00
Dividend %
P/E (adj.)6.5neg.6.1
EV/EBITDA6.33.23.6

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...
13 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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