Panostaja Oyj - Company Announcement

PANOSTAJA OYJ HAS SOLD LÄMPÖ-TUKKU OY TO ONNINEN OY

Panostaja Oyj        Stock Exchange Bulletin, March 12, 2012, 3:00 pm



PANOSTAJA OYJ HAS SOLD LÄMPÖ-TUKKU OY TO ONNINEN OY



Panostaja Oyj has today signed an agreement to sell Lämpö-Tukku Oy to Onninen
Oy. 

With the transaction, Lämpö-Tukku Oy's share capital and the business
operations owned by its parent company, Eurotermo Holding Oy, which are related
to the business operations of Lämpö-Tukku Oy, will be transferred to the buyer.
Panostaja owns 63.3% of its subsidiary Eurotermo Holding Oy. 

The compensation paid to Panostaja as purchase price and repayment of internal
loans totals some MEUR 2.4. Panostaja will not record sales profit or loss from
the transaction. 

The transaction is intended to be closed by March 31, 2012 subject to approval
by the Finnish Competition Authority. 



Panostaja adjusts its guidance

Lämpö-Tukku Oy will be removed from the result of Panostaja Group's continuing
business operations for the current financial period and the comparable period.
Panostaja will adjust its guidance regarding the Group's net sales. During the
financial year 2012, the Group's comparable net sales are estimated to be
approximately 9-16% over the previous financial year and the Group's operating
profit is also expected to improve. 

The previous guidance from March 7, 2012: The Group's net sales are estimated
to grow 7-14% over the previous financial year, and the Group's operating
profit is expected to increase. 



Panostaja's financial key figures after the sale

Without Lämpö-Tukku Oy, Panostaja Group's comparable net sales and profit from
continuing business operations for the 2011 financial period stood at MEUR
141.2 and MEUR 6.7, respectively. The result from continuing business
operations for the 2011 financial period was MEUR 2.9. 



Lämpö-Tukku's financial key figures

Lämpö-Tukku Oy's net sales and operating profit/loss in the financial periods
from November 1, 2010-October 31, 2011 and November 1, 2009-October 31, 2010
were as follows (FAS): 



(EUR1,000)

                       Nov. 1, 2010− Oct. 31,     Nov. 1, 2009− Oct. 31, 2010
                        2011                                                 
Net sales                                 20,529             19,604          
Operating profit/loss                       -489               501              



Lämpö-Tukku Oy's balance sheet on October 31, 2011 and October 31, 2010 was as
follows: 



(EUR1,000)





                  Oct. 31, 2011  Oct. 31, 2010
Permanent assets            284            208
Stocks                    3,642          5,595
Receivables and                               
Liquid assets             4,412          3,752
Total                     8,338          9,555
Equity                   -1,052          1,030
Liabilities               9,390          8,525
Total                     8,338          9,555







Panostaja Oyj



Juha Sarsama

CEO





Further information:



CEO Juha Sarsama, Panostaja Oyj, +358 (0)40 774 2099



Senior Vice President Martti Forss Onninen Finland  +358 (0)400 840598



Panostaja is an investment company developing Finnish SMEs in the role of an
active majority shareholder. The company aims to be the most sought-after
partner for business owners selling their companies as well as for the best
managers and investors. Together with its partners, Panostaja increases the
Group's shareholder value and creates Finnish success stories. 

Panostaja Oyj currently operates in eleven business areas, and Panostaja Group
has some 1,100 staff. Panostaja Group's net sales for the 2011 financial period
stood at MEUR 163.2 without the effect of the divestments realized over the
2012 financial period. 

Lämpö-Tukku Oy is an importer and wholesaler of HEPAC products and it has been
operating since 1956. The company has developed into a versatile specialist
company in its field, with special focus on renovation customers. The company's
own import activities constitute approx. 70% of its net sales. Company's
headquarters are located in the district of Viikki in Helsinki and the company
has also branches in Espoo, Vantaa, Tampere and Seinäjoki. In the financial
period ending October 31, 2011, Lämpö-Tukku Oy's net sales totaled MEUR 20.5,
and the company's operating profit stood at MEUR -0.5. 

Onninen Oy provides comprehensive materials services to contractors, industry,
public organizations and technical product retailers.  Onninen Oy is a
family-owned company and operate in the industry since 1913. Onninen Group has
2,800 employees in Finnish, Swedish, Norwegian, Polish, Russian and Baltic
operations. Onninen Group's net sales for 2011 totaled EUR 1.5 billion.