Announcement • May 13
Kh Group Oyj and Kh-Koneet Group Oy Announces Board Changes KH Group Plc announced that Juha Karttunen has resigned from the position as member of the Board of Directors of KH Group Plc and the Board of its subsidiary, KH-Koneet Group Oy. The Board of Directors of KH Group has consequently elected Christoffer Landtman as the new Chair of the Board of Directors. Following Juha Karttunen’s resignation, the composition of the Board of Directors is hence the following: Christoffer Landtman (Chair), Maija Jokela, Jari Rautjärvi and Jon Unnérus. Additionally, due to the change in Board composition, the Board of Directors has elected Jari Rautjärvi as the Chair and Maija Jokela and Christoffer Landtman as members of the Audit Committee. Announcement • May 08
KH Group Oyj Announces CFO Changes Minni Lempinen (Master of Science, Economics) has been appointed as the CFO of KH Group Plc as of 17 August 2026. Mrs. Lempinen’s previous career includes serving as CFO of Endomines Plc. KH Group’s current CFO, Tommi Rötkin, will leave the company by 3 June 2026. Pekka Raatikainen has been appointed as interim CFO for the transition period. Raatikainen has et al. previously served as CFO for Relais Group and Fibox. Announcement • May 06
KH Group Plc Appoints Maija Jokela to Its Board of Directors and Approves Composition of Audit Committee, Effective 5 May 2026 KH Group Plc at its Annual General Meeting held on 5 May 2026, approved election of Maija Jokela to the Board of Directors until the closing of the Annual General Meeting of 2027. In its constitutive meeting held after the Annual General Meeting, the Board of Directors elected Jari Rautjärvi as Chair and Juha Karttunen and Christoffer Landtman as members of the Audit Committee. Announcement • Mar 23
KH Group Plc Announces Departure of Tommi Rötkin as CFO, Effective June 2026 KH Group Plc announced that CFO and member of the Group management team Tommi Rötkin has announced his decision to take up a new position outside the company by June 2026 at the latest. Tommi Rötkin has worked at KH Group since 2020 and as the CFO since June 2024. The recruitment process for the new CFO has been initiated. The new CFO will be recruited reflecting KH Group’s revised strategy. Announcement • Feb 05
KH Group Oyj to Report Fiscal Year 2025 Results on Mar 20, 2026 KH Group Oyj announced that they will report fiscal year 2025 results on Mar 20, 2026 Announcement • Dec 01
KH Group Oyj, Annual General Meeting, May 05, 2026 KH Group Oyj, Annual General Meeting, May 05, 2026. Announcement • Nov 20
Kati Kivimäki acquired 58.3% stake in Indoor Group Oy from KH Group Oyj (HLSE:KHG) in a management buyout transaction for an enterprise value of €26 million. Kati Kivimäki acquired 58.3% stake in Indoor Group Oy from KH Group Oyj (HLSE:KHG) in a management buyout transaction for an enterprise value of €26 million on November 20, 2025. The shares subject to the transaction comprise 58.3% of all shares in Indoor Group, and a nominal purchase price has been paid to KH Group for them. In addition, KH Group has in connection with the transaction agreed on a financing arrangement in which Indoor Group as a whole has been valued at an enterprise value of €26 million, taking into account Indoor Group’s interest-bearing net debt, excluding lease liabilities. In the financing arrangement, KH Group has repaid Indoor Group's debt to the financing bank by €2 million and forgiven the receivable from Indoor Group resulting from said repayment as well as other loan receivables from Indoor Group totaling €3.5 million, of which KH Group had already previously written down a portion equal to €2.4 million. As a result of the transaction, KH Group will record a loss of €3.3 million in total in the result for the financial year 2025 after the deduction of costs related to the transaction.
Kati Kivimäki completed the acquisition of 58.3% stake in Indoor Group Oy from KH Group Oyj (HLSE:KHG) in a management buyout transaction on November 20, 2025. Announcement • May 07
Kh Group Oyj Approves Committee Appointments KH Group Oyj announced at the AGM held on May 6, 2025, resolved to establish an Audit Committee and elected Taru Narvanmaa as Chair and Juha Karttunen and Jari Rautjärvi as members of the Audit Committee. Announcement • Mar 21
KH Group Plc Provides Earnings Guidance for the Year 2025 KH Group Plc provided earnings guidance for the year 2025. For the year, the company estimates that both the net sales (EUR 194.0 million) and the comparable operating profit (EUR 7.2 million) will remain approximately at the same level year-on-year. Announcement • Nov 04
KH Group Oyj, Annual General Meeting, May 06, 2025 KH Group Oyj, Annual General Meeting, May 06, 2025. Announcement • Oct 04
KH Group Oyj Announces Composition of Nomination Board The Shareholders’ Nomination Board of KH Group Plc has been appointed in accordance with the Charter of the Nomination Board approved by the Annual General Meeting held on 11 May 2022. The Nomination Board comprises three representatives of the Company’s largest shareholders based on the ownership situation on 31 August 2024 and the Chairman of the Board of Directors of KH Group. The members of the Nomination Board are: Simon Hallqvist, Preato Capital AB, Mikko Laakkonen, Johanna Takanen, Juha Karttunen, Chairman of the Board of Directors of KH Group. In its organizing meeting on 3 October 2024, the Nomination Board elected Simon Hallqvist as its Chairman. New Risk • Aug 18
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.7% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Earnings have declined by 52% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€33.1m market cap, or US$36.5m). New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings have declined by 49% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 49% per year over the past 5 years. Minor Risks High level of debt (94% net debt to equity). Share price has been volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$100m (€33.2m market cap, or US$36.6m). Announcement • Aug 09
KH Group Plc Revises Earnings Guidance for the Year 2024 KH Group Plc revised earnings guidance for the year 2024. In connection with the stock exchange release on 7 June 2024 regarding the sale of HTJ, the company updated its pro forma guidance for 2024 as follows: net sales of EUR 370 million – EUR 390 million and operating profit of EUR 9 million – EUR 13 million including the capital gain from Indoor’s real estate sale in Estonia. According to the updated guidance, the company estimates, with the current Group structure, to reach pro forma net sales of EUR 340 million –EUR 360 million and operating profit of EUR 4 million – EUR 7 million in 2024. New Risk • Jun 11
New major risk - Revenue and earnings growth Earnings have declined by 49% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 49% per year over the past 5 years. Minor Risks High level of debt (94% net debt to equity). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (€37.2m market cap, or US$39.9m). Announcement • May 15
KH Group Plc Announces Resignation of Lauri Veijalainen as CEO Lauri Veijalainen and KH Group Plc have agreed that Lauri Veijalainen will leave his position as the CEO of KH Group Plc. Veijalainen continues as the CEO of Indoor Group, a group company of KH Group. KH Group Plc starts the process to identify a new CEO immediately. Veijalainen will continue as the CEO of KH Group Plc at the most for a period of six months until his successor starts in this position. Announcement • May 03
KH Group Plc Revises Earnings Guidance for the Year 2024 KH Group Plc revised earnings guidance for the year 2024. For the year, the company expects net sales to be in the range of EUR 400 million to EUR 420 million against previous guidance range of EUR 400 million to EUR 420 million. Operating profit to be in the range of EUR 12 million to EUR 16 million, including the operating profit from the real estate sale in Estonia, against previous guidance range of EUR 14 million to EUR 16 million, excluding the operating profit of approximately EUR 3.7 million from Indoor Group’s 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. 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. Announcement • Mar 24
KH Group Plc Proposes No Dividend Distribute for the Financial Period Ended 31 December 2023 The board of Directors of KH Group Plc proposes to the Annual General Meeting that no dividend be distributed for the past financial period ended 31 December 2023. The profit distribution proposal of the board of directors takes into account the company’s liquidity situation at the time of making the profit distribution proposal, expected cash flows during the new year and the investments required by the change in strategy. Announcement • Mar 23
KH Group Plc Provides Earnings Guidance for the Year 2024 KH Group Plc provided earnings guidance for the year 2024. For the year, the company estimates, with the current group structure, to reach net sales of EUR 400 million to EUR 420 million and operating profit of EUR 14 million to EUR 16 million. New Risk • Mar 20
New major risk - Revenue and earnings growth Earnings have declined by 38% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks High level of debt (73% net debt to equity). Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (€44.9m market cap, or US$48.7m). Announcement • Oct 10
KH Group Oyj Announces Composition of Nomination Board The Shareholders’ Nomination Board of KH Group Plc has been appointed in accordance with the Charter of the Nomination Board approved by the Annual General Meeting of the company held on 11 May 2022. The Nomination Board comprises three representatives of the Company’s largest shareholders based on the ownership situation on 31 August 2023 and the Chairman of the Board of Directors of KH Group. The members of the Nomination Board are: Simon Hallqvist, Preato Capital AB, Mikko Laakkonen, Johanna Takanen, Juha Karttunen, Chairman of the Board of Directors of KH Group. In its organizing meeting on 9 October 2023, the Nomination Board elected Simon Hallqvist as its Chairman. The primary purpose of the Nomination Board is to prepare and present proposals for the Annual General Meeting concerning the composition and remuneration of the Board of Directors. The Nomination Board delivers its proposals for the Annual General Meeting to the Company’s Board of Directors by the last day of January preceding the Annual General Meeting at the latest. Announcement • Aug 17
KH Group Oyj Appoints Ville Nikulainen as CFO Ville Nikulainen has been appointed as the CFO of KH Group Plc as of 1 September 2023. Mr. Nikulainen previously served as the interim CEO of KH Group between March and July 2023. He has extensive and international work experience from financial, managerial, and board of directors duties, including serving as the CFO of Mint of Finland Ltd. and Assemblin Oy, as well as serving in other financial management duties at Stora Enso Oyj and Uponor Corporation, among others. As announced on 15 May 2023, KH Group’s current CFO, Tuomas Joensuu, will leave the company. He will continue as CFO until the end of August. Announcement • Oct 27
Sievi Capital plc Revises Earnings Guidance for the Year 2022 Sievi Capital Plc revised earnings guidance for the year 2022. For the year, the company estimates that its turnover for 2022 will be EUR 800 million to EUR 880 million (previous, issued on 14 April 2022: EUR 750 million to EUR 820 million). Announcement • Oct 26
Sievi Capital Plc Announces Shareholders’ Nomination Board The Shareholders' Nomination Board of Sievi Capital Plc has been appointed in accordance with the Charter of the Nomination Board approved by the Annual General Meeting held on 11 May 2022. The Nomination Board comprises three representatives of the Company’s largest shareholders based on the ownership situation on 31 August 2022 and the Chairman of the Board of Directors of Sievi Capital. The members of the Nomination Board are: Simon Hallqvist, Preato Capital AB; Mikko Laakkonen; Johanna Takanen; Juha Karttunen, Chairman of the Board of Directors of Sievi Capital. In its organizing meeting on 24 October 2022, the Nomination Board elected Simon Hallqvist as its Chairman. Announcement • Feb 15
Sievi Capital plc Announces Executive Changes Sievi Capital Plc announced Mr. Tuomas Joensuu has been appointed as Interim CFO of the company as of 15 March 2022. He joined the company in 2019 and has worked as Investment Manager, focusing on investment projects and development of current target companies as well as supporting the company’s financial administration. As announced on 1 September 2021, the company’s current CFO, Markus Peura, will leave the company in March 2022. Announcement • Dec 12
Sievi Capital Plc Provides Earnings Guidance for the Year 2021 Sievi Capital Plc provided earnings guidance for the year 2021. The company estimates that its turnover for 2021 will be EUR 680 million –EUR 700 million. Valuation Update With 7 Day Price Move • Aug 24
Investor sentiment improved over the past week After last week's 30% share price gain to €2.30, the stock trades at a trailing P/E ratio of 5.8x. Average forward P/E is 17x in the Capital Markets industry in Germany. Total returns to shareholders of 29% over the past three years. Announcement • Aug 20
Boreo Oyj (HLSE:BOREO) signed a letter of intent to acquire Sievi Capital Plc (HLSE:SIEVI) from a group of shareholders. Boreo Oyj (HLSE:BOREO) signed a letter of intent to acquire Sievi Capital Plc (HLSE:SIEVI) from a group of shareholders on August 18, 2021. In the Contemplated Combination, the shareholders of Boreo would receive a total of 60% of the merged company's shares and votes and the shareholders of Sievi would receive a total of 40% of the merged company's. Merged companies' name would be Boreo Plc and it would continue its business in accordance with the current operating model as a group. Merged entity's strategy would be based on Boreo’s current strategy acknowledging the businesses and strengths of the new combined entity. It is planned that Kari Nerg, the current Chief Executive Officer of Boreo, be elected as the Chief Executive Officer of the merged entity.
The largest shareholder of Boreo and Sievi, Preato Capital AB, and the members of the Boards of Directors independent of the largest shareholder have stated that they preliminarily support the Contemplated Combination. The completion of the Contemplated Combination requires, among other things, that mutual due diligence reviews are conducted and accepted and the parties reach an agreement on the legal procedure of completing the Contemplated Combination and the related combination agreement and other transaction agreements. Provided that the companies reach an agreement on the conditions of the combination, the shareholders of Boreo and Sievi would decide on the combination. The parties aim to sign the combination agreement and other transaction agreements in September 2021. Mcf Corporate Finance Oy acted as financial advisor and Asianajotoimisto Castrén & Snellman Oy acted as legal advisor to Boreo Oyj. Handelsbanken Capital Markets acted as financial advisor and Hannes Snellman Attorneys Ltd. acted as legal advisor to Sievi Capital Plc. Announcement • Apr 30
Sievi Capital Plc Declares a Dividend for the Financial Period Ended on 31 December 2020, Payable on 14 May 2021 Sievi Capital Plc announced that at its AGM held on April 29, 2021, decided that a dividend of EUR 0.04 per share be paid for the financial period ended on 31 December 2020. The dividend shall be paid to a shareholder who is registered in the shareholder register of the company maintained by Euroclear Finland Oy on the dividend record date of 3 May 2021. The dividend will be paid on 14 May 2021. Upcoming Dividend • Apr 24
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 30 April 2021. Payment date: 14 May 2021. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.6%). Is New 90 Day High Low • Feb 24
New 90-day high: €1.14 The company is up 15% from its price of €0.99 on 25 November 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 12% over the same period. Is New 90 Day High Low • Jan 19
New 90-day high: €1.14 The company is up 9.0% from its price of €1.04 on 21 October 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 30
New 90-day high: €1.09 The company is up 9.0% from its price of €0.99 on 01 October 2020. The German market is also up 9.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Capital Markets industry, which is up 8.0% over the same period. Announcement • Oct 30
Sievi Capital Oyj (HLSE:SIEVI) agreed to acquire a 70% stake in Logistikas OY from Olderman Oy, Werstas Works Oy and Jyrki Lehti for €11 million. Sievi Capital Oyj (HLSE:SIEVI) agreed to acquire a 70% stake in Logistikas OY from Olderman Oy, Werstas Works Oy and Jyrki Lehti for €11 million on October 29, 2020. The transaction includes 70% stake in Logistikas Hankinta Ltd. as well. A new group will be established by the acquired companies in future. Olderman Ltd and Werstas Works Ltd will remain a minority shareholder in the new group to be established. Jyrki Lehti is leaving ownership. Ari Salmi, Chairman of the Board, will continue on the Board and Toni Brigatti will continue as CEO. The company's head office will remain in Rauma and the name and logo will remain unchanged. The transaction is subject to the approval of the competition authorities. Transaction is expected to close by the end of 2020. Sami Martola of Krogerus Attorneys Ltd. acted as legal advisor to Sievi Capital. 
