contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Thomas Westerholm

Sievi Capital is now a conglomerate with a new name KH Group. Our medium-term objective is to become an industrial group built around the business of KH-Koneet Group. KH Group’s share is listed on Nasdaq Helsinki.

Now that Indoor Group has been sold, what is KH Group’s leverage ratio? Could anyone answer?

It’s only a bankruptcy application at this stage, but bankruptcy wouldn’t be a surprise to anyone. They didn’t want it to collapse under KH, so they paid a bit to find a “buyer”. Well, you’d think the bankruptcy estate would get a decent chunk of cash for those brands.

Ilta-Sanomat – 29 Jan 26              Konkurssihakemus Askon ja Sotkan omistajasta    Kyse on merkittävistä maksamattomista saatavista, IS:lle kerrottiin.                                               Ilta-Sanomat – 29 Jan 26              Konkurssihakemus: Nyt puhuu Askon ja Sotkan omistaja    Huonekalualan markkinatilanne on ollut erittäin haastava, huonekalubrändien omistaja kertoi.                             Sale in November, and in January a bankruptcy application is filed.

I suppose the reason for this will also be revealed in the next financial statement… it’s not exactly a gold mine industry.. Komatsu is a really big player globally and they won’t run out of money… in Finland, it’s relatively small. Mainly strong in the mining sector. I don’t know, but I’m guessing they were low on cash, so they were “forced to sell” to whoever would pay something. This is a guess, of course. Edit: Seems there are some payment delays, with invoices 8-30 days overdue. So I’m voting for “out of money”

Saurus has signed a framework agreement with the Vantaa and Kerava wellbeing services county for the period Dec 9, 2025 – Dec 31, 2027, after which it will continue indefinitely. According to the agreement, Saurus is the sole supplier with overall responsibility for the Central Uusimaa Rescue Department. The wellbeing services county will place orders through separate decisions within its funding framework over approximately four years: Fire engines: 8-10 units  Tankers: 2-4 units  Tanker-pumpers: 1-2 units The total estimated value of the agreement is set at 9.6 MEUR. (published in Hilma on Jan 25, 2026, agreement signed on Dec 9, 2025)                   hankintailmoitukset.fi              Hilma

A bit of news regarding KH-Koneet Group’s competitive landscape: Canadian heavy equipment dealer SMS Equipment has acquired Suomen Rakennuskone Oy. The company, headquartered in Pirkanmaa, has generated annual revenues of 40-50 MEUR in recent years, which is about a third of KH-Koneet Group’s revenue. Unfortunately, the purchase price was not disclosed. Operations in Finland will continue as usual. Suomen Rakennuskone is, among other things, the importer of Komatsu excavators, making it a direct competitor to Kobelco. This is interesting news in that international dealers are interested in the Finnish market, and why couldn’t KH-Koneet Group also be an acquisition target (speculation)? The head of KH Technical Trade said, for example, in the latest Ammattilehti video interview on January 23, 2026, that Kobelco improved its sales in 2025. High-quality performance, then.                   Koneviesti – 22 Jan 26              Kanadalainen SMS Equipment osti Suomen Rakennuskone Oy:n – toiminnot jatkuvat...    Kanadalainen rakennus- ja kaivosalan koneiden jälleenmyyjä SMS Equipment ilmoitti laajentavansa toimintaansa Suomeen ja ostaneensa  Suomen Rakennuskone Oy:n.

I’m not KH, but they have a contract. There’s always some bypassing/parallel importing, but it doesn’t affect the business. KH sells directly or re-rents to other rental companies. Selling to rental companies is always bad business. You’re up against professional buyers. They sit there eating meeting pastries and haggling 0.25% off the prices. It’s complete nonsense. And it takes a long time. Re-renting has become more common. Machines are on someone’s balance sheet and they are rented out. For example, Renta hardly owns anything themselves. Everything belongs to others, which they then re-rent for a commission. The margin is always worse after a dealer. And none of the mentioned ones take machines into stock with their own money; their stock machines are likely leveraged somehow. Direct sales are the best. But a dealer usually does the work without “costs” (to the principal).

KH Group

The transformation of KH Group toward a conglomerate to be built around KH-Koneet is progressing, but we estimate that the current difficult business environment can slow down the unlocking of value and expose Indoor Group in particular to balance sheet risks. Our SOTP calculation indicates a clear upside potential for the stock, although its realization is conditional on dissolving the current ownership structure and avoiding materialization of balance sheet risks.

<p>The transformation of KH Group toward a conglomerate to be built around KH-Koneet is progressing, but we estimate that the current difficult business environment can slow down the unlocking of value and expose Indoor Group in particular to balance sheet risks. Our SOTP calculation indicates a clear upside potential for the stock, although its realization is conditional on dissolving the current ownership structure and avoiding materialization of balance sheet risks.</p> 

	2022	23e	24e
Revenue	441.3	416.3	400.4
growth-%	3,737.4 %	-5.7 %	-3.8 %
EBIT (adj.)	12.2	11.6	10.1
EBIT-% (adj.)	2.8 %	2.8 %	2.5 %
EPS (adj.)	0.24	0.16	-0.01
Dividend	0.00	0.00	0.00
Dividend %
P/E (adj.)	4.9	2.9	neg.
EV/EBITDA	18.6	5.5	5.1

KH Group: A structural change worth waiting for

Login required

Key Estimate Figures10.03.2024

Forum discussions