Turnaround setback
On Tuesday, KH Group significantly lowered its earnings guidance for the current year, citing lower-than-expected revenue and EBIT of Indoor Group and KH-Koneet, mainly for Q1. In our Q4 update, we were skeptical about the very strong and surprisingly precise guidance the company issued in March, but the 25% decline at the midpoint of the guidance was still disappointing to us.
KH Group
0.69
0.80
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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.
Read more on company pageKey Estimate Figures2024-05-01
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 403.2 | 393.4 | 406.1 |
| growth-% | -6.00 % | -2.41 % | 3.22 % |
| EBIT (adj.) | 10.8 | 9.6 | 17.8 |
| EBIT-% (adj.) | 2.68 % | 2.44 % | 4.38 % |
| EPS (adj.) | 0.12 | -0.07 | 0.07 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | 6.54 | - | 7.02 |
| EV/EBITDA | 6.34 | 3.62 | 3.73 |
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