Panostaja Oyj - Company Announcement

PANOSTAJA RECORDS GOODWILL IMPAIRMENT LOSS IN THE TAKOMA BUSINESS SEGMENT

Panostaja Oyj        Stock Exchange Bulletin, October 29, 2012, 1:00 pm



PANOSTAJA RECORDS GOODWILL IMPAIRMENT LOSS IN THE TAKOMA BUSINESS SEGMENT



At meetings held on October 22, 2012 and October 29, 2012, the Board of
Panostaja's subsidiary, Takoma Oyj, examined and updated presumptions
concerning the current operating environment of the Takoma Group. Based on this
examination, the Board of Takoma Oyj has set new numerical and operational
targets for Takoma Group's current business operations. The changes in
target-setting particularly result from the prolongation of poor market
prospects, which are having an impact on net sales and profitability. 

Based on the Takoma segment's impairment tests, at its meeting on October 29,
2012 the Board of Panostaja Oyj decided that the Takoma segment's consolidated
goodwill will be written down by about MEUR 2.1. 

In connection with this, Panostaja Oyj will write down MEUR 1.0 of the
subordinated loan granted to associated company Ecosir Group Oy. Although
Ecosir's market situation and order book have developed positively over the
past year, future growth is being affected by prolonged factors of uncertainty
that justify the write-down. After the aforementioned write-down, the capital
remaining in the subordinated loan on Panostaja Oyj's balance sheet is MEUR
1.3. 

Panostaja further refines its result management measures with regard to net
sales. During the 2012 financial year, the Group's comparable net sales are
expected to grow by about 10-15% over the previous year and, when adjusted by
the one-time items of the 2012 financial year, the Group's EBIT is expected to
increase or remain level with the previous year. 

Previous result management: During the 2012 financial year, the Group's
comparable net sales are expected to grow by about 10-15% over the previous
year and the Group's EBIT is expected to increase or remain level with the
previous year. 



Panostaja Oyj

Juha Sarsama

CEO



Further information:

CEO

Juha Sarsama

Panostaja Oyj

040 774 2099





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. The Panostaja
Group employs about 1,200 people. Panostaja's shares (PNA1V) are quoted on the
NASDAQ OMX Helsinki Stock Exchange. In the 2011 financial year, the Group's
turnover was €163.2 million. www.panostaja.fi