KH Group: Indoor Group’s change negotiations have been concluded — the new operating model will be rolled out across the country

    KH Group: Indoor Group’s change negotiations have been concluded —  the new operating model will be rolled out across the country 

KH Group Plc
Press release 4 December 2024 at 8:50 am EET

KH Group: Indoor Group’s change negotiations have been concluded — the new operating model will be rolled out across the country
  
On 15 August 2024, KH Group announced an operating model reform programme aimed at improving the group company Indoor Group's profitability. Change negotiations related to the reform began on 21 October 2024 and the scope of the negotiations covered 635 employees. At the start of the negotiations, the company estimated that the planned changes would lead to the termination of up to 200 positions.

The outcome of the change negotiations is that 162 employment relationships will be terminated in Indoor Group.

The change negotiations that have now been concluded are part of the company’s extensive operating model reform, which is focused on the nationwide consolidation of the operations of Asko and Sotka stores that are located adjacent to each other. Taking full advantage of the two strong Finnish brands, shared business premises, an efficient sales organisation and the new ERP system will enable a better customer experience and a broader product range, while improving the company’s competitiveness in a very challenging market situation. The reform is estimated to improve Indoor Group's annual operating profit by at least EUR 10 million by the end of 2026.

KH GROUP PLC

FURTHER INFORMATION:
CEO Ville Nikulainen, tel. [phone]
Indoor Group CEO Lauri Veijalainen, tel. [phone]

DISTRIBUTION:
Nasdaq Helsinki Ltd
Major media
www.khgroup.com

KH Group Plc is a Nordic conglomerate operating in the business areas of KH-Koneet, Indoor Group and Nordic Rescue Group. We are a leading supplier of construction and earth-moving equipment, furniture and interior decoration retailer as well as rescue vehicle manufacturer. The objective of our strategy is to create an industrial group around the business of KH-Koneet. KH Group’s share is listed on Nasdaq Helsinki.