Panostaja Oyj - Company Announcement

PANOSTAJA EXPANDS ITS BUSINESS INTO BUILDING TECHNOLOGY RENOVATION SERVICES FOR HOUSES BY BUYING A 60 PER CENT SHAREHOLDING IN KOTISUN OY

Panostaja Oyj                       Stock Exchange Bulletin May 7, 2014        
             13:00 p.m. 

Panostaja Oyj has bought a 60 per cent shareholding in KotiSun Oy, a company
offering service water and heating network renovation services. As a result of
the transaction, Panostaja expands its business operations and establishes
within the Group a new business area specializing in building technology
renovation for houses. 

KotiSun Oy is Finland's leading company in service water and heating network
building technology renovations for houses. The company's business is based on
reliability, strong concept expertise, efficient implementation and
customer-orientedness, offering customers renovation services on a turnkey
principle. In the 2013 financial year, the company had net sales of MEUR 12.5
and employs about 120 staff. Its head office is situated in Jyväskylä and it
has offices in Helsinki, Tampere, Oulu, Turku, Kuopio, Lahti, Rovaniemi,
Lappeenranta and Seinäjoki. 

The purchase price paid for the entire shareholding of the company is MEUR
11.7. The sellers also have the chance of an additional purchase price of up to
MEUR 3.0, which will be set based on the operating margin for the 2014 calendar
year. 

As part of the arrangement, KotiSun Oy's owners continue as minority
shareholders in the new segment with a 40 per cent shareholding. KotiSun Oy
Managing Director Kalle Lahtinen will continue as the company's Managing
Director and also as a major shareholder. 

Panostaja's objective is to build around KotiSun a nationally leading company
in building technology renovation services for houses. 

 ”The need for service water and heating network renovation is becoming
increasingly topical for most Finnish houses. The sector has good prospects for
growth and we are very convinced about the ability of KotiSun's business
concept to respond to future opportunities. KotiSun has grown rapidly to be the
largest and best-known operator in the sector in Finland, and it is a very
profitable company. In future, customers will increasingly require from their
renovation partner the customer-orientedness, reliability, quality, guarantees
and environmental values which KotiSun strongly represents,” says Panostaja CEO
Juha Sarsama. 

”We are happy to have found a renowned and reliable partner that values the
entrepreneurial spirit and with whom we can continue in the active development
of the company to the next stage. Together we will accelerate the company's
expansion to a national network of offices, and we will endeavor to take
advantage of the considerable opportunities for the growth of services that
support the present business. We will get the necessary additional tools and
management systems for the new stage,” says KotiSun Oy's Managing Director
Kalle Lahtinen. 



Panostaja's result management

Panostaja keeps its result management issued on March 5, 2014 unaltered. The
Group's comparable net sales in the 2014 financial period are expected to be
greater than in 2013 (MEUR 167.0). It is expected that the Group's comparable
EBIT (MEUR 3.3) will improve in the 2014 financial period. 

The discontinued operations of the Takoma segment and the divestment of the
Supports segment from the Group have been taken into account in result
management. 



KotiSun Oy's net sales and EBIT in the financial periods from January 1, 2013
to December 31, 2013 and January 1, 2012 to December 31, 2012 were as follows
(FAS): 

(EUR1,000)

           Jan 1, 2013−Dec 31, 2013  Jan 1, 2012−Dec 31, 2012
Net sales                    12,500                    10,613
EBIT                          2,185                     1,369

The balance sheets in the financial statements on December 31, 2013 and
December 31, 2012 were as follows: 

(EUR1,000)

                  Dec 31, 2013  Dec 31, 2012
Permanent assets         1,677           723
Stocks                     343           304
Receivables and          1,835         1,833
Liquid assets                               
Total                    3,855         2,860



Equity       2,302  1,161
Liabilities  1,553  1,699
Total        3,855  2,860



Panostaja Oyj

Juha Sarsama

CEO



Further information:

CEO Juha Sarsama +358 40 774 2099

KotiSun Oy Managing Director Kalle Lahtinen +358 40 4177 962



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 this
transaction, Panostaja Oyj operates in nine business areas, and Panostaja Group
employs some 1,400 staff. Panostaja's shares (PNA1V) are quoted on the NASDAQ
OMX Helsinki Stock Exchange. In the 2013 financial year, the Group's net sales
totaled MEUR 179.6. 
www.panostaja.fi


Founded in 2006, KotiSun Oy is a company specializing in building technology
renovations for houses. The company offers consumers conceptualized service
water and heating network renovations as a turnkey service. KotiSun has grown
rapidly into the largest and best-known company in the sector in Finland. Its
head office is situated in Jyväskylä and it has offices in Helsinki, Tampere,
Oulu, Turku, Kuopio, Lahti, Rovaniemi, Lappeenranta and Seinäjoki. In 2013, the
company had net sales of MEUR 12.5 and it employs about 120 staff. 
www.kotisun.fi