KH Group (KHG) Q2 2025 earnings summary

Executive summary

• Revenue/net sales increased 4% year-over-year in H1 2025 to €95.9 million, but operating profit declined to €1.0 million from €2.3 million.

• KH-Koneet's sales grew, but profitability fell due to higher costs and weak Swedish market.

• Nordic Rescue Group's sales declined, but operating profit remained stable with a record-high order book.

• Indoor Group, classified as discontinued, saw a 14–18% drop in sales and continued profitability challenges.

• Strategic focus is on KH-Koneet and divesting other business areas.

Financial highlights

• H1 2025 revenue/net sales: €95.9 million (up from €92.5 million year-over-year).

• H1 2025 operating profit: €1.0 million (down from €2.3 million year-over-year).

• Net profit from continuing operations: €-1.0 million (vs. €-1.1 million year-over-year).

• Cash and cash equivalents: €3.1 million at period end.

• Parent company’s share of operating profit negative due to strategy project costs and increased use of external services.

Outlook and guidance

• 2025 guidance: revenue/net sales and comparable operating profit for continuing operations expected to remain at 2024 levels (€194.0 million revenue, €7.2 million operating profit).

• Focus on growth in core business and potential dividends after significant exits.