KH Group Plc’s Interim Report January–March 2026: Growth continued, but profitability declined during a seasonally subdued quarter

KH Group Plc
Stock Exchange Release 5 May 2026 at 8:00 am EEST

KH Group Plc’s Interim Report January–March 2026: Growth continued, but profitability declined during a seasonally subdued quarter

This is the summary of the Interim Report for January–March 2026. The full report is attached to this release and is also available on the company’s website at www.khgroup.com.

KH Group, January–March 2026

• Net sales amounted to EUR 44.6 (41.8) million.
• Comparable operating profit was EUR -1.1 (0.2) million.
• Operating profit was EUR -1.4 (-0.1) million.                         
• Net profit for the period was EUR -2.9 (-0.4) million.
• Earnings per share (undiluted and diluted) were EUR -0.05 (-0.01).
• Equity per share at the end of the review period was EUR 0.81 (0.85).
• Return on equity for rolling 12 months was -5.1% (-43.4%).
• The Group’s cash and cash equivalents amounted to EUR 9.0 million at the end of the review period.
• Gearing at the end of the review period was 161.8% (291.3%).
• Gearing excluding lease liabilities was 141.7% (187.9%).

CEO Carl Haglund:

The Group's net sales developed positively in the first quarter. The Group's profitability, in turn, was weaker than in the corresponding period in 2025. However, the outlook for the full year 2026 remains unchanged given a fairly positive second-quarter outlook for KH-Koneet in light of sales that have already been secured. For Nordic Rescue Group, the first quarter was positive in many ways. The positive development of new orders continued, and the outlook for 2026 and 2027 remains very good. One large delivery was delayed from late March to April, which had an impact on the result for the first quarter. The full-year forecast for Nordic Rescue Group remains unchanged. 

The key events of the first quarter at KH Group included the Group's refinancing, with a Finnish bank and Finnish insurance companies as the financing providers. The secured financing agreements total EUR 33.5 million and consist of EUR 20.5 million in term loans and EUR 13.0 million in revolving credit facilities. The financing agreements have a term of two years and include a one-year extension option, subject to the financing providers' consent. The new financing arrangement replaces the previous financing agreements of KH-Koneet and Nordic Rescue Group. This arrangement enabled us to refinance the entire Group and also replace some of our short-term financing. The financing arrangement secures a solid financial foundation for the long-term development of business operations and supports the company's growth.

The first quarter brought news of a personnel change when the company announced that CFO Tommi Rötkin will leave his position by June at the latest. The recruitment process for a new CFO has progressed well. KH Group seeks to recruit a new CFO whose background supports the Group's strategic direction as a listed company focusing on the machinery trade. KH-Koneet's new CEO Tuomas Myllynen, whose appointment was announced by the company last winter, will take up his post on 1 June 2026.

Events after the review period

There were no significant events after the review period. 

Financial objectives and future outlook

In line with our strategy, we strive for value creation in all of our business areas. The KH-Koneet and NRG businesses will be developed as part of a group focusing on earth-moving equipment and rescue vehicles.

During the next few years, the aim is to invest in the growth of the core business and pay dividends within the limits established by the balance sheet structure and financing agreements.

The guidance for 2026 is as follows: the company expects both the net sales and the comparable operating profit to increase in 2026 compared to 2025.

KH GROUP PLC

Carl Haglund
CEO

FURTHER INFORMATION:
CEO Carl Haglund, tel. +358 40 500 6898

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 www.khgroup.com/en.

Attachment

• KH Group Plc Interim Report Q1 2026