KH Group (KHG) Q4 2024 earnings summary

Executive summary

• Net sales increased to EUR 194.0 million for 2024, with a 2% year-over-year rise on a pro forma basis, but operating profit declined to EUR 7.2 million (pro forma) and EUR 5.8 million (reported IFRS).

• The group initiated the sale process for Indoor Group and completed the divestment of HTJ, aligning with its strategy to focus on KH-Koneet.

• Indoor Group was classified as held for sale and reported as a discontinued operation; a significant write-down of EUR 28.9 million was recognized.

• The group’s continuing operations now comprise KH-Koneet and Nordic Rescue Group.

Financial highlights

• Reported IFRS net sales: EUR 194.0 million (EUR 124.0 million in 2023, comparison period includes only May–Dec 2023).

• Operating profit (EBIT): EUR 5.8 million (EUR -6.7 million in 2023); comparable EBIT: EUR 7.2 million (EUR 3.2 million in 2023).

• Net profit from continuing operations: EUR 1.4 million (EUR -10.4 million in 2023).

• Earnings per share from continuing operations: EUR 0.02 (EUR -0.18 in 2023).

• Cash and cash equivalents at year-end: EUR 9.8 million.

• Gearing: 283.4% (195.4% in 2023); equity ratio: 18.7% (23.2% in 2023).

Outlook and guidance

• For 2025, net sales and comparable operating profit are expected to remain at 2024 levels (EUR 194.0 million and EUR 7.2 million, respectively).

• The group aims to invest in core business growth and pay dividends after significant exits, within balance sheet and financing limits.