Rescue Vehicle Manufacturing

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KH Group Plc’s Half-Year-Report 1 January–30 June 2025: KH-Koneet’s profitability declined – NRG performed well, orderbook at record-high level
Globenewswire· 2025-08-15 05:00
Core Insights - KH Group's net sales from continuing operations increased by 4% year-on-year to EUR 95.9 million for the first half of 2025, while operating profit decreased [6][10] - The profitability of KH-Koneet declined despite a 9% increase in net sales, indicating challenges in maintaining margins [6][10] - The Nordic Rescue Group experienced a decline in net sales, but its operating profit remained stable compared to the previous period [3][10] Financial Performance - For the second quarter of 2025, net sales were EUR 54.2 million, up from EUR 52.2 million in the same period last year, with a comparable operating profit of EUR 0.8 million, down from EUR 2.4 million [8][9] - The first half of 2025 saw comparable operating profit at EUR 1.0 million, a decrease from EUR 2.3 million in the previous year [10] - The Group's equity per share decreased to EUR 0.83 from EUR 1.25, with a return on equity for the rolling 12 months at -40.8% [6] Strategic Developments - KH Group is in the process of divesting its Indoor Group business, with a financial advisor engaged to explore options, aiming for completion in 2025 [4][12] - A reform program in Indoor Group is expected to improve operating profit by at least EUR 10 million annually by the end of 2026, with significant savings already realized in 2025 [5][12] - The company aims to focus on the growth of its core business, KH-Koneet, while assessing exit opportunities for other business areas [12][13] Future Outlook - The guidance for 2025 estimates that net sales will remain around EUR 194.0 million, with comparable operating profit expected to be approximately EUR 7.2 million, maintaining levels from the previous year [13][14] - The company plans to invest in core business growth and pay dividends after significant exits, adhering to its balance sheet structure and financing agreements [12][13]
KH Group: Indoor Group’s change negotiations concluded – profitability improvement measures continue
Globenewswire· 2025-06-25 05:30
Core Viewpoint - KH Group is undergoing change negotiations in its Indoor Group division to enhance profitability, with a focus on restructuring and management model renewal [1][2]. Group 1: Change Negotiations - The change negotiations initiated on May 19, 2025, involved 83 employees, with an initial estimate of up to 30 positions potentially being terminated [1]. - The outcome of the negotiations will result in the termination of up to 21 employment relationships and temporary layoffs by the end of May 2026 [2]. Group 2: Profitability Improvement Measures - The negotiations aim to improve profitability by approximately EUR 2 million through management model renewal and function reorganization [2]. - These measures are part of a broader operational model reform expected to enhance Indoor Group's annual operating profit by at least EUR 10 million by the end of 2026 [2]. Group 3: Company Overview - KH Group Plc operates in various sectors, including construction and earth-moving equipment, rescue vehicle manufacturing, and furniture retail [3]. - The company's strategy focuses on creating an industrial group centered around its KH-Koneet business [3].
KH Group: Saurus Oy secured a significant order from Defence Forces
Globenewswire· 2025-06-24 07:45
Group 1 - KH Group's subsidiary Saurus Oy secured an order from Finland's Defence Forces for 14 fire engines and one foam unit, valued at approximately 10 million euros [1] - This order reinforces the long-term relationship between Saurus Oy and Finland's Defence Forces, highlighting the company's role in national security [2] - Nordic Rescue Group, which includes Saurus Oy and Sala Brand AB, reported net sales of 44.2 million euros in 2024, establishing its position as a leading rescue vehicle supplier in the Nordic countries [2] Group 2 - KH Group operates in various business areas, including construction and earth-moving equipment, rescue vehicle manufacturing, and furniture retail [3] - The company's strategy aims to create an industrial group centered around the business of KH-Koneet [3] - KH Group's shares are listed on Nasdaq Helsinki, indicating its presence in the public market [3]
KH Group: Indoor continues profitability improvement measures – the company will start change negotiations
Globenewswire· 2025-05-12 09:00
Group 1 - Indoor Group will initiate change negotiations to improve profitability, covering 84 employees in support functions [1][2] - The goal of the negotiations is to achieve a profitability improvement of approximately EUR 2 million as part of a broader operating model reform aimed at an annual operating profit increase of at least EUR 10 million by the end of 2026 [2] - Indoor Group reported an operating loss of EUR 2.5 million in the first quarter, making these profitability improvement measures necessary [3] Group 2 - KH Group operates in various business areas, including construction equipment, rescue vehicles, and furniture retail, with a strategy to create an industrial group around KH-Koneet [3] - KH Group's shares are listed on Nasdaq Helsinki, indicating its presence in the public market [3]
KH Group: Indoor Group updated its financing agreement
Globenewswire· 2025-05-08 12:00
Group 1 - KH Group's subsidiary Indoor Group has updated its financing agreement, extending its validity until 31 August 2025, with conditions that prevent the repayment of loans [1] - There is uncertainty in Indoor Group's financing due to a breach of covenants on 30 September 2024, which may affect its ability to continue as a going concern [2] - KH Group's overall operations are not immediately impacted by Indoor Group's financing situation, as the Group companies have ring-fenced financing [2] Group 2 - KH Group Plc operates in various business areas, including construction and earth-moving equipment, rescue vehicle manufacturing, and furniture retail [3] - The company's strategy aims to create an industrial group centered around the business of KH-Koneet [3] - KH Group's shares are listed on Nasdaq Helsinki [3]
Decisions of KH Group’s Annual General Meeting and the constitutive meeting of the Board of Directors
Globenewswire· 2025-05-06 15:15
Core Points - KH Group Plc held its Annual General Meeting on 6 May 2025, where all proposals were supported, including the adoption of financial statements for 2024 and the discharge of the Board of Directors and CEO from liability for that period [1] - The General Meeting decided not to distribute any dividends for the financial period ended 31 December 2024 [2] - The remuneration for the Board of Directors remains unchanged, with the Chairman receiving EUR 3,550 per month and each member EUR 2,300 per month [3] - The number of Board members was confirmed at six, with specific individuals elected to serve until the closing of the Annual General Meeting of 2026 [4] - Ernst & Young Oy was elected as the company's auditor and sustainability reporting assurance provider, with Timo Eerola acting as the principally responsible auditor [5][6] - The General Meeting authorized the Board of Directors to issue up to 11,400,000 shares and to repurchase a maximum of 5,700,000 shares, effective until 30 June 2026 [8][10] - The Board of Directors elected Juha Karttunen as Chairman and established an Audit Committee with specific members [13] - All members of the Board of Directors were considered independent of the company and significant shareholders [14]
KH Group Plc’s Business Review January–March 2025: Moderate growth and improving profitability
Globenewswire· 2025-05-06 05:00
Core Insights - KH Group Plc experienced moderate growth in net sales and operating profit during the January–March 2025 period compared to the previous year [3] - The company aims to focus on its core business, KH-Koneet, while divesting other business areas [8] Financial Performance - Net sales for the period amounted to EUR 41.8 million, an increase from EUR 40.4 million year-on-year [7] - Comparable operating profit was EUR 0.2 million, improving from a loss of EUR 0.1 million [7] - The net profit from continuing operations was EUR -0.4 million, an improvement from EUR -1.7 million [7] - Earnings per share from continuing operations were EUR -0.01, compared to EUR -0.03 in the previous year [7] - Equity per share decreased to EUR 0.85 from EUR 1.30 [7] - Gearing at the end of the review period was 291.3%, up from 225.3% [7] Business Segments - KH-Koneet saw an increase in net sales and operating profit in Finland and Sweden, particularly in heavy crawler excavators [3] - Nordic Rescue Group's net sales declined, but operating profit remained stable compared to the previous year [3] - Indoor Group faced challenges due to market uncertainty, but a reform program aims for an annual operating profit improvement of at least EUR 10 million by the end of 2026 [4] Strategic Developments - KH Group initiated a sale process for Indoor Group and aims to complete it during 2025 [5] - The company acquired the remaining minority shares of KH-Koneet Group Oy for EUR 2.0 million, making it a fully-owned subsidiary [5] - A performance-based share scheme for key employees of KH-Koneet was established to align their goals with shareholder interests [6] Future Outlook - The company estimates that net sales for 2025 will be approximately EUR 194.0 million, with comparable operating profit remaining around EUR 7.2 million [9] - The focus will be on securing net sales and improving working capital efficiency [6]
The Board of Directors of KH Group Plc resolved to establish a performance share plan for the Group’s key employees
Globenewswire· 2025-05-05 18:15
Core Points - KH Group Plc's Board of Directors has established a new performance share plan for key employees of KH-Koneet, replacing the previous plan announced on May 31, 2024, with the goal of aligning shareholder and employee objectives to enhance long-term company value [1] - The performance share plan will cover a two-year performance period from 2025 to 2026, allowing key employees to earn shares based on their performance [2] - Rewards from the plan will be distributed within five months after the performance period ends, consisting of both KH Group shares and cash to cover taxes and social security contributions [3] - The performance criteria for the plan are based on KH-Koneet's EBIT and Return on Invested Capital for the year 2026, targeting approximately 20 key employees, including management members, with a maximum total reward value of approximately 1,094,000 shares [4] - Management members are required to hold 50% of the reward shares until their shareholding equals 50% of their annual base salary from the previous year, while the CEO must hold 50% until their shareholding equals their annual base salary [5] Company Overview - KH Group Plc operates as a Nordic conglomerate in various business areas, including construction and earth-moving equipment, rescue vehicle manufacturing, and furniture retailing, with a strategic objective to create an industrial group centered around KH-Koneet [6]