KH Group

KH Group's Q2 earnings exceeded our expectations in terms of both revenue growth and especially profitability. The positive surprises in the report highlighted the turnaround in KH-Koneet's Swedish business and a broad-based improvement in relative profitability.

We expect the company's revenue and adjusted EBIT to have grown significantly from the comparison period, driven by both subsidiaries.

KH Group's Q1 profitability was at a weak level due in part to timing-related factors.

KH Group's strong Q4 figures were already known based on the preliminary data provided by the company.

With the Indoor Group divestment, KH Group's structural transformation journey is complete and its strategy now focuses on KH-Koneet and NRG.