KH Group strengthens its financial position with a 33.5 MEUR arrangement
Summary
- KH Group has secured new financing agreements totaling 33.5 MEUR with domestic banks and insurance companies, aimed at strengthening its financial position following the Indoor Group divestment.
- The financing package includes 20.5 MEUR in term loans and 13.0 MEUR in revolving credit facilities, valid for two years with a one-year extension option.
- This arrangement replaces previous subsidiary-specific financing agreements, potentially improving financial flexibility, although the company did not disclose specific pricing or terms.
- The analyst views the financial restructuring as slightly positive, assuming improved financing availability post-divestment, but maintains existing forecasts.
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Translation: Original published in Finnish on 03/31/2026 at 08:18 am EEST
KH Group announced on Monday that it has signed secured financing agreements totaling 33.5 MEUR with domestic banks and insurance companies. The arrangement is a logical step in the company's strategic transformation, where, after the Indoor Group divestment, the company has communicated its intentions to simplify and strengthen the Group's financial base. The new financing package replaces previous financing agreements, which clarifies the group structure and, in our view, slightly improves financial flexibility. The news does not cause changes to our forecasts.
The financing package replaces subsidiary-specific arrangements
The financing arrangement consists of 20.5 MEUR in term loans and 13.0 MEUR in revolving credit facilities. The agreements are valid for two years and include a one-year extension option, subject to the financiers' consent. According to the company, the financing agreement includes standard covenant terms, which, we believe, do not differ significantly from the terms of the previous financing package. With this arrangement, KH Group is refinancing its entire financial base, although we believe that financing will remain subsidiary-specific. KH Group provided no details on the pricing or terms of the financing. However, we consider the financial restructuring to be slightly positive, as we assume that the availability of financing has improved with the Indoor Group divestment.
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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 earthmoving machinery, and Nordic Rescue Group, rescue vehicle manufacturer. KH Group’s share is listed on Nasdaq Helsinki.
Read more on company pageKey Estimate Figures23.03.
| 2025 | 26e | 27e | |
|---|---|---|---|
| Revenue | 204.6 | 216.0 | 237.5 |
| growth-% | 5.5 % | 5.6 % | 10.0 % |
| EBIT (adj.) | 6.3 | 7.8 | 10.4 |
| EBIT-% (adj.) | 3.1 % | 3.6 % | 4.4 % |
| EPS (adj.) | 0.01 | 0.03 | 0.07 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | 41.5 | 21.2 | 8.0 |
| EV/EBITDA | 5.1 | 4.2 | 4.0 |
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