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2017-12-14 08:00:00 CET 2017-12-14 08:00:02 CET REGULATED INFORMATION Panostaja Oyj - Financial Statement ReleasePanostaja Oyj´s Financial Statement 1.11.2016-31.10.2017Panostaja Oyj Financial Statement Release 14.12.2017 9.00 am. August 1, 2017–October 31, 2017 (3 months)
November 1, 2016–October 31, 2017 (12 months)
Proposal for the distribution of profits: The Board of Directors proposes to the Annual General Meeting that a dividend of EUR 0.04 per share be paid for the past financial period.
”During the last quarter of the review period, the total net sales of the investments increased by 34% from the reference period. As in previous quarters, the most significant factor influencing the growth of net sales was the impact of Grano’s corporate acquisitions, but growth was also wide-ranging in other segments. Net sales increased in seven of the eight investments. EBIT for the final quarter of the period increased from MEUR 2.9 in the reference period to MEUR 3.2, although the result was significantly weighed down by the unusually large expenses related to the corporate acquisitions. As a result, the profitability of the investment targets developed largely as expected over the course of the review period. However, we will continue measures to improve Megaklinikka’s profitability and ensure an upturn in Grano’s bottom line. During the review period, Grano acquired the business operations of Brand Factory Finland Oy and Lönnberg Painot Oy. After the corporate acquisitions, Grano initiated efforts to carry out the identified streamlining and integration measures. The operational restructuring and streamlining measures target about MEUR 4 in annual cost savings, slightly less than half of which are estimated to be realized in the 2018 financial year. During the review period, Panostaja invested in wireless technology by purchasing a majority holding in CoreHW Oy, a company designing high-performance electronics. In addition to a profitable and modern core business, the company has excellent opportunities for productization. We find the opportunities afforded by high-level technological expertise to be extremely interesting as equipment and applications utilizing the Internet of Things are becoming more commonplace. Activity on the corporate acquisition market has continued on a good level, and the supply of new investments has been active. However, there is a large amount of investment capital on the market and the competition for investments is fierce. When investing through our own balance, our flexible operating model gives us the opportunity to assess our corporate acquisition strategy according to the market situation. We will continue to actively explore interesting investments, but we will also carefully consider and assess every opportunity for a corporate acquisition. Moreover, we feel that the active market situation provides an excellent opportunity to investigate a number of select divestment opportunities.”
Panostaja Group’s business operations for the current review period are reported in nine segments: Grano, KotiSun, Selog, Helakeskus, KL-Varaosat, Heatmasters, Megaklinikka, CoreHW and Others (parent company and associated companies). There were no significant changes in the net sales of the segment Others. In the review period, three associated companies issued reports: Juuri Partners Oy, Ecosir Group Oy and Spectra Yhtiöt Oy. The profit/loss of the reported associated companies in the review period was MEUR 0.3 (MEUR 0.1), which is presented on a separate row in the consolidated income statement.
OUTLOOK FOR THE 2018 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:
Panostaja Oyj Board of Directors For further information, contact CEO Juha Sarsama: tel. +358 (0)40 774 2099.
Panostaja Oyj Juha Sarsama CEO |
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