Panostaja Oyj - Company Announcement

PANOSTAJA SELLS VALUE-ADDED LOGISTICS SEGMENT COMPANY VINDEA TO SUOMEN TRANSVAL GROUP OY

Panostaja Oyj        Stock Exchange Bulletin, May 21, 2014, 12:00 noon

Panostaja Oyj together with the other owners of Vindea Group Oy has today
signed a deed for the sale of the entire shareholding in Vindea Group Oy to
Suomen Transval Group Oy. At the same time, Panostaja divests its Value-added
Logistics segment. 

Vindea Group Oy is a subsidiary 54.22%-owned by Panostaja and, as a result of
the transaction, Vindea Group Oy's entire shareholding will be transferred to
the buyer. 

The total sale price of the shares sold is estimated to be MEUR 16.7, of which
Panostaja's share after the deduction of costs related to the sale will be
about MEUR 9.0. The final sale price will be determined by around May 30, 2014.
Panostaja records an estimated sales profit of MEUR 5.5 from the transaction. 

“We have owned Vindea since 2003. Together with the present management, we have
taken the company through two challenging processes of corporate acquisition
and integration. During this time, Vindea has clarified its strategy, increased
its expertise, increased the number of customers and gained new resources.
During its ownership by Panostaja, Vindea has achieved a strong market position
and grown profitably.  The divestment of the oldest investment is in accordance
with the agreed ownership strategy and supports our objective of the active
development of our portfolio,” says Panostaja CEO Juha Sarsama. 

“This acquisition expands the service offering of the Transval Group into the
manufacturing industry. By combining the strengths of Vindea and Transval, I
believe that together we can develop our services to better meet the needs of
both our present and future customers,” says Risto Vilo, CEO of Transval Group. 


Adjustment of Panostaja's result management

As a result of the divestment, Vindea Group Oy (the Value-added Logistics
segment) will be removed from Panostaja Group's result from continuing
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. The Group's comparable net sales in the 2014 financial
period are expected to be 12−17% greater than in the 2013 financial period
(MEUR 137.0). The Group's comparable EBIT (MEUR 1.6) is expected to improve
significantly in the 2014 financial period. Result management has taken into
account the divested businesses of the Takoma segment and the removal of the
Value-added Logistics and Supports segments from the Group. 

The previous result management on March 3, 2014: The Group's comparable net
sales in the 2014 financial period are expected to be greater than in 2013
(MEUR 167.0). The Group's comparable EBIT (MEUR 3.3) is expected to improve in
the 2014 financial period. Result management has taken into account the
divested businesses of the Takoma segment and the removal of the Supports
segment from the Group. 

The estimated sales profit of MEUR 5.5 recorded from the transaction will be
presented in a separate row without affecting the EBIT for the financial
period. 


Panostaja's key financial figures taking the impact of the corporate
transaction into account 

Without the Value-added Logistics segment, the businesses of the divested
Takoma segment and the Supports segment, Panostaja Group's comparable net sales
and EBIT from continuing operations for the 2013 financial period stood at MEUR
137.0 and MEUR 1.6, respectively. 



Vindea's key financial figures

Net sales and EBIT of the Vindea Group Oy subgroup in the financial periods
November 1, 2012−October 31, 2013 and November 1, 2011−October 31, 2012 were as
follows (FAS): 

(EUR 1,000)

           Nov. 1, 2012-Oct. 31, 2013  Nov. 1, 2011−Oct. 31, 2012
Net sales                      29,907                      23,307
EBIT                            1,392                       1,141

Vindea Group Oy's consolidated balance sheets on October 31, 2013 and October
31, 2012 were as follows: 

(EUR 1,000)



                  Oct. 31, 2013  Oct. 31, 2012
Permanent assets          4,467          5,165
Stocks                      886            835
Receivables and                               
Liquid assets             6,010          5,183
Total                    11,363         11,183
Equity                    5,696          5,323
Liabilities               5,667          5,860
Total                    11,363         11,183



Panostaja Oyj

Juha Sarsama
CEO


Further information:

Juha Sarsama, CEO, Panostaja Oyj, tel. +358 40 774 2099

Risto Vilo, CEO, Suomen Transval Group Oy, tel. +358 40 090 4253



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 Vindea
transaction, Panostaja operates in eight business segments, and Panostaja Group
employs some 1,100 staff. Panostaja's shares (PNA1V) are quoted on the NASDAQ
OMX Helsinki Stock Exchange. In the 2013 financial year, the Group's official
net sales totaled MEUR 179.6. 
www.panostaja.fi

Vindea Oy is a diverse company specializing in value-added logistics, which
offers the technology industry tailored logistics services in the form of
material acquisition services, warehousing, control, production logistics as
well as comprehensive packaging systems. The company's branches are located in
Hyvinkää, Riihimäki, Tampere, Lempäälä, Järvenpää, Helsinki, Espoo, Vantaa,
Jyväskylä, Vaasa and Kerava, and it employs a total of about 300 people.  The
company's net sales during the financial year ending October 31, 2013 totaled
MEUR 29.9, and its EBIT stood at MEUR 1.4. 
www.vindea.fi

Suomen Transval Group is Finland's largest inhouse logistics company. It has
expanded its operations from terminal services to various inhouse logistics
services such as warehouse operations, shipping, outdoor areas, unloading of
containers and airport and packing services  The company employs approximately
1,700 logistics professionals in Helsinki metropolitan area, Lahti, Tampere,
Turku, Kotka and Oulu. In the 2013 financial period, Suomen Transval Group
recorded net sales of MEUR 69. 
www.transval.fi