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KH Group (KHG) investor relations material
KH Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for 2025 increased by 5% year-over-year to €204.5 million, with a strong Q4 performance reversing earlier negative guidance.
Comparable operating profit for the year was €6.4 million, down from €7.2 million in 2024, reflecting margin pressures and restructuring costs.
Strategic transformation neared completion with the divestment of Indoor Group, focusing future operations on construction machinery and rescue vehicles.
Both revenue and comparable operating profit grew in Q4 year-over-year.
Guidance for 2026 anticipates growth in both net sales and comparable operating profit.
Financial highlights
Full-year net sales reached €204.5 million, up from €194.0 million in 2024; Q4 net sales were €63.3 million, up 3% year-over-year.
Comparable operating profit was €6.4 million (down from €7.2 million); Q4 comparable EBIT was €4.2 million (up from €3.4 million).
Net profit from continuing operations was €1.0 million for the year, with EPS at €0.01.
EBITDA margin for the year was 9.7%, down from 10.5% in 2024.
Equity ratio improved to 31.8% from 18.7%; gearing reduced to 137.5% from 283.4%.
Outlook and guidance
For 2026, both revenue and comparable operating profit are expected to increase compared to 2025.
Focus will be on profitable growth and completing the transformation into an industrial group.
- Profitability declined and 2024 guidance was cut as Indoor Group underperformed.KHG
Q2 202424 Jan 2026 - Net sales rose but profits and equity declined; focus shifts to core businesses and divestment.KHG
Q3 202531 Oct 2025 - Profitability declined despite higher sales, with strategic focus shifting to core business and divestments.KHG
Q2 202515 Aug 2025 - Q3 2024 results declined year-over-year, with updated guidance and ongoing strategic divestments.KHG
Q3 202413 Jun 2025 - Revenue up, profitability down, Indoor Group for sale, leverage high, 2025 outlook flat.KHG
Q4 202411 Jun 2025 - KH Group posted improved sales and profitability, with strategic focus on KH-Koneet and divestments.KHG
Q1 20255 Jun 2025
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