Panostaja Oyj - Company Announcement

PANOSTAJA DIVESTS THE CARPENTRY INDUSTRY SEGMENT AND SELLS MATTI-OVI OY TO TAALERITEHTAAN SIJOITUSTEHDAS

Panostaja Oyj        Stock Exchange Bulletin, October 9, 2013, 10:30



Panostaja Oyj together with the owners of Matti-Ovi Oy has today signed a deed
for the sale of its shareholding in Matti-Ovi Oy to Taaleritehtaan
Sijoitustehdas Oy. 

In the transaction, about 85 % of the shares of Matti-Ovi Oy will be
transferred to the buyer. Matti-Ovi Oy is a subsidiary of which Panostaja owns
71.25 %, and, in connection with the transaction, Panostaja will divest its
entire shareholding. 

The total sale price of the shares being sold is estimated to be MEUR 3.4, of
which Panostaja's share after the deduction of costs related to the sale will
be MEUR 2.7. The final sale price will be determined by November 13, 2013.
Panostaja will record an estimated sales profit of MEUR 1.8 from the
transaction. 

“We have owned Matti-Ovi Oy since 1985. The company has achieved a strong
market position and is in a very good situation with the new owner for a new
stage of growth and a change in the sector. The divestment of our oldest
investment supports our strategy and the objective of the active development of
our own portfolio,” says Panostaja CEO Juha Sarsama. 

”To enable future growth, Finnish enterprises require private capital.
According to Taaleritehdas's vision, a prerequisite for Finnish economy growth
is promoting Finnish ownership and therefore we aim to promote our clients'
possibilities for diverse ownership in any ways we can. We will be inviting our
clients to invest alongside Taaleritehdas in Matti-Ovi Oy, of which we will
together start to develop into a new growth path. Investing together with our
clients is our new way of making investments, which we will be calling
Co-investing, says Taaleritehdas CEO Juhani Elomaa. 

Adjustment of Panostaja's result management

As a result of the divestment, Matti-Ovi Oy will, in its entirety, be removed
from Panostaja Group's result from continuing business operations for the
current financial period and the reference period. Because of this, Panostaja
changes its result management with regard to consolidated net sales and EBIT.
During the 2013 financial period, the Group's comparable net sales (MEUR 150.8)
are expected to grow by about 18-21% over the previous year and the Group's
comparable EBIT is expected to exceed the level of the 2012 financial period
(MEUR 2.9) without one-time items in the 2013 financial period (such as
impairments). 

The previous result management on September 4, 2013: During the 2013 financial
period, the Group's net sales are expected to grow by about 16-20% over the
previous year and the Group's EBIT is expected to remain at the level of the
2012 financial period (MEUR 4.2) without one-time items in the 2013 financial
period (such as depreciation). 

The estimated sales profit of MEUR 1.8 recorded from the transaction will be
presented in a separate row without affecting the EBIT for the financial
period. 

Panostaja's financial key figures considering the corporate transaction

Without Matti-Ovi Oy, Panostaja Group's comparable net sales and EBIT from
continuing business operations for the 2012 financial period stood at MEUR
150.8 and MEUR 2.9, respectively. 

Matti-Ovi's financial key figures

Matti-Ovi Oy's net sales and EBIT in the financial periods November 1,
2011−October 31, 2012 and November 1, 2010−October 31, 2011 were as follows
(FAS): 

(EUR1,000)



           Nov 1, 2011−  Nov 1, 2010−
           Oct 31, 2012  Oct 31, 2011
Net sales         6,061            5,767
EBIT              1,305            1,031

Matti-Ovi Oy's balance sheet on October 31, 2012 and October 31, 2011 was as
follows: 

(EUR1,000)



                  Oct 31, 2012  Oct 31, 2011
Permanent assets           426           564
Stocks                     876           892
Receivables and                             
Liquid assets            2,019         1,445
Total                    3,321         2,901
Equity                   1,780         1,108
Liabilities              1,541         1,793
Total                    3,321         2,901





Panostaja Oyj

Juha Sarsama

CEO



Further information:

Tapio Tommila, Investment Director, Panostaja Oyj +358 (0)40 527 6311

Juhani Elomaa, Managing Director, Taaleritehdas Oyj +358 (0)40 778 9020



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. 

After the Matti-Ovi transaction, Panostaja Oyj operates in ten business areas,
and Panostaja Group employs some 1,300 staff. Without adjustment for the sale
of Matti-Ovi, Panostaja Group's net sales in the 2012 financial period were
MEUR 156.8. Panostaja's shares (PNA1V) are quoted on the NASDAQ OMX Helsinki
Stock Exchange. 

www.panostaja.fi

Matti-Ovi Oy is a company specialized in the manufacture and sales of
high-quality solid wood doors, with the company's history dating back to 1911.
The company's customers include hardware stores, construction firms,
house-builders, wholesalers and independent builders. Of its net sales, about
40% goes to export, of which the key market areas are Norway, Russia and
Sweden. The company employs about 30 people and is based in Laitila. The net
sales of Matti-Ovi Oy during the financial year ending October 31, 2012 totaled
MEUR 6.1, and the company's EBIT stood at MEUR 1.3. 

Taaleritehdas is an investment company listed on the First North Finland market
of the Helsinki Stock Exchange maintained by NASDAQ OMX. Taaleritehdas
specializes in providing a comprehensive private banking service for private
individuals and wealth management for institutional clients. The Taaleritehdas
Group consists of the parent company, Taaleritehdas Plc, and four operating
subsidiaries: Taaleritehtaan Varainhoito Oy, Taaleritehtaan Pääomarahastot Oy,
Taaleritehdas financing company Lainaamo Oy and Taaleritehtaan Sijoitustehdas
Oy. Taaleritehdas also owns Kultataaleri Oy supplying physical gold, the
partially-owned Asuntoverstas Hallinnointi ja vuokraus Oy specializing in
investment housing, and Vakuutusvahti Oy offering competitive bidding for
corporate insurance. The Group employs over 110 people. The company has offices
in Helsinki, Tampere, Turku, Pori, Oulu and Istanbul. It manages assets worth
EUR 2.7 billion and had 2,400 clients at the end of June 2013.