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2017-09-07 09:00:01 CEST 2017-09-07 09:00:01 CEST REGULATED INFORMATION Panostaja Oyj - Interim report (Q1 and Q3)Panostaja Oyj´s Interm Report: November 1, 2016-July 31, 2017Panostaja Oyj Interim Report September 7, 2017 at 10:00 a.m.
CEO Juha Sarsama: Continuing growth in many fields ”During the review period, the total net sales of the investments increased by 12% from the corresponding period. The growth took place in many areas, and net sales increased in six of the seven investments. The impact of Grano’s corporate acquisitions remained an important factor affecting growth in net sales. EBIT, on the other hand, remained at the level of the reference period, although we were able to improve profitability in many investment targets. Megaklinikka and Heatmasters, which have been recording poor results, were both successful in improving their performance significantly in the review period. However, Grano’s level of profitability remained weaker than expected, which lowered profitability as a whole. We will continue to implement measures to improve Grano’s profitability and ensure an upturn in Megaklinikka’s result. Grano implemented a substantial round of consolidations during the summer as a result of the four corporate acquisitions, the most important of which was the procurement of Lönnberg Painot Oy after the end of the review period at the beginning of September. The corporate acquisitions represented an important step in furthering Grano’s strategy and strengthening its market position, but they also postponed the implementation of the necessary streamlining measures identified within the company. Now that the acquisitions have been conducted, Grano has initiated measures to carry out integrations and improve its cost structure. Activity on the corporate acquisition market has continued on a good level, and the supply of new investments has been active. We will continue to explore new investment targets, but we also feel that the active market situation provides an excellent opportunity to investigate a number of divestment opportunities.”
Outlook for the 2017 Financial Period Activity on the corporate acquisition market has continued on a good level during the review period, and the supply of new investments has been active. The need to exploit ownership arrangements and growth opportunities in SMEs will continue, and as our own activity complements the supply of possible acquisitions from outside, there are plenty of possibilities for corporate acquisitions on the market. Panostaja aims to implement its growth strategy by means of controlled acquisitions in current investments, and new potential investments are also being actively studied. Divestment possibilities are actively evaluated as well, on a somewhat larger scale than before, as a part of the owner strategies of the investments. The demand situation for different investments is thought to develop in the short term as follows:
Press Conference Panostaja will arrange a press conference for analysts, investors and representatives of the press at Hotel Scandic Simonkenttä, in Helsinki, address Simonkatu 9 on Thursday September 7, 2017 at 11:30 a.m.
Panostaja Oyj Board of Directors For further information, contact CEO Juha Sarsama: tel. +358 (0)40 774 2099.
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