Inside information, profit warning: KH Group Plc lowers its guidance for 2024
KH Group Plc
Inside information, 30 April 2024 at 2.30 pm EEST
Inside information, profit warning: KH Group Plc lowers its guidance for 2024
KH Group Plc lowers its guidance for 2024.
In the 2023 Financial Statements Release published on 21 March 2024, the company estimated net sales of EUR 400–420 million and operating profit of EUR 14–16 million for the financial year 2024. The guidance did not include the operating profit of approximately EUR 3.7 million from Indoor Group’s real estate sale in Estonia, which the company announced on 21 March 2024 at 12 noon.
According to the updated guidance, the company estimates, with the current Group structure, to reach net sales of EUR 400–420 million and operating profit of EUR 12–16 million in 2024, including the operating profit from the real estate sale in Estonia.
The lowering of the guidance is based on lower-than-expected net sales and operating profit in Indoor Group and KH-Koneet mainly in the first quarter. KH Group is expected to fall significantly short of the pro forma figures of the comparison period, Q1/2023, when net sales was EUR 100.2 million and operating profit was EUR 1.0 million. General market uncertainty, labour union strikes in Finland and the implementation of Indoor Group’s new ERP system have negative impacts on KH Group’s net sales and operating profit.
The company will publish its January–March 2024 Business Review on Tuesday, 7 May 2024.
KH GROUP PLC
FURTHER INFORMATION:
CEO Lauri Veijalainen, tel. +358 46 876 1648
DISTRIBUTION:
Nasdaq Helsinki Ltd
Major media
www.khgroup.com
KH Group Plc is a conglomerate with four business areas: KH-Koneet, Indoor Group, Nordic Rescue Group and HTJ. All of our business areas are leading players in their sectors in B2B products and services and consumer trade. Our objective is to focus on the business of the earth-moving machinery supplier KH-Koneet. Other business areas will be further developed and then divested in line with the Group’s investment strategy. KH Group’s share is listed on Nasdaq Helsinki.
