Veli-Pekka Paloranta will leave Lehto Group at the end of August. His successor will join a company still operating under a restructuring program while pursuing ambitious growth plans in battery energy storage.

Lehto Group announced recently that CFO Veli-Pekka Paloranta and the company had agreed to end his employment by the end of August 2026. Once known for construction, Lehto Group is a Finnish company now focused on developing and operating battery energy storage projects.

Paloranta will remain available to the company in an advisory capacity following his departure. Lehto said the arrangement is intended to ensure continuity in financial reporting and the fulfillment of listed-company obligations while a successor is recruited.

Paloranta has served as CFO through one of the most challenging periods in the company's history. During his tenure, Lehto navigated the bankruptcy of three operating subsidiaries in 2024, continued under a court-confirmed restructuring program, and began building a new business in battery energy storage.

A search for a new CFO is underway.

A different company than it was two years ago

Lehto's 2025 financial statements show the extent of the transformation.

Revenue increased to EUR 1.4 million from EUR 1.1 million in 2024, while the operating loss narrowed to EUR 2.6 million from EUR 5.7 million. The improvement was driven largely by lower personnel and operating expenses as the company scaled down its legacy construction operations.

Cash stood at EUR 2 million at year-end, compared with EUR 2.2 million a year earlier.

The sale of the Oulainen factory by subsidiary Lehto Components Oy in November 2025 generated EUR 4.7 million and enabled the repayment of all secured restructuring debt. About EUR 3.2 million of unsecured restructuring liabilities remain payable through 2029.

The company ended 2025 with a negative equity ratio of 17.9%.

The focus has shifted to energy storage

Battery energy storage now sits at the center of Lehto's strategy.

By the end of 2025, the company had eight battery storage units with a combined capacity of approximately 11.4 MW either operating or under installation. Four units had entered productive use and were participating in electricity markets.

In the company's 2025 financial statement release, CEO Hannu Lehto described energy storage as a business that builds on capabilities developed in construction.

"The energy storage business has many similarities to traditional construction. We develop projects, secure permits and financing for them, and design and build the facilities."

Lehto's largest announced project is located in Kalajoki. In January 2026, the company signed an agreement to acquire rights, contracts, and permits related to a battery storage project that includes a 30 MW grid connection agreement, with the possibility of increasing capacity to as much as 100 MW.

Construction is expected to begin during the second half of 2026, with productive operations targeted for the first half of 2027.