KH Group Plc

INDOOR GROUP WILL CONCENTRATE IN THE FINNISH MARKET IN THE FUTURE

KH Group Plc
Press Release 28 November 2023 at 8:55 am EET

INDOOR GROUP WILL CONCENTRATE IN THE FINNISH MARKET IN THE FUTURE

KH Group Plc’s subsidiary Indoor Group Ltd will concentrate in its domestic market in Finland in the future. As a consequence, operations in Estonia will be closed by the end of the first quarter of 2024.The reason behind this decision is the unprofitability of the operations in a challenging market environment. There are currently three Asko stores in Estonia; Tallinn, Pärnu and Tartu.

Simultaneously the company starts the process to sell its asset in Tallinn.

Closing of the Estonian operations will not have any impact to Finnish operations of Indoor Group.

KH GROUP PLC

Lauri Veijalainen
CEO

FURTHER INFORMATION:
CEO Lauri Veijalainen, [phone]

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www.khgroup.com

Sievi Capital is now a conglomerate with a new name KH Group. Our four business areas are leading players in their sectors in B2B products and services and consumer trade. The objective of our strategy change is to focus on the business of the earth-moving machinery supplier KH-Koneet. KH Group’s share is listed on Nasdaq Helsinki.