Panostaja Oyj’s Financial Statement Bulletin 1.11.2022-31.10.2023
2023年12月15日 - 4:00PM
Panostaja Oyj’s Financial Statement Bulletin 1.11.2022-31.10.2023
Panostaja Oyj Financial
Statement Bulletin December 15, 2023 at 9.00
a.m.
Focusing on measures to improve
profitability
August 2023-October 2023 (3 months) in
brief:
- Net sales increased in two out of
four segments. Net sales for the Group as a whole dropped by 7.1%
to MEUR 34.2 (MEUR 36.8).
- EBIT improved in two of the four
segments. The entire Group’s EBIT declined from the reference
period, standing at MEUR -0.8 (MEUR -0.6).
- Grano’s net sales for the review
period dropped by 6.2% from the reference period. EBIT totaled MEUR
0.2 (MEUR -0.5). Grano’s EBIT includes MEUR 0.4 in one-time costs
of the restructurings that resulted from the change negotiations
that took place at the end of the financial period.
- Earnings per share (undiluted) were
-1.4 cents (-1.1 cents).
November 2022-October 2023 (12 months)
in brief:
- Net sales increased in two out of
four segments. Net sales for the Group as a whole dropped by 1.3%
to MEUR 136.2 (MEUR 137.9).
- EBIT improved in two of the four
segments. The entire Group’s EBIT declined from the reference
period, standing at MEUR -1.1 (MEUR 5.2). The EBIT for the
reference period includes MEUR 9.4 in sales profit from the SokoPro
deal.
- Comparable EBIT improved for three
of the four segments (Grano adjusted with the impacts of the
SokoPro divestment).
- Grano’s net sales for the review
period dropped by 2.2% from the reference period. EBIT was MEUR 1.9
(MEUR 8.7 including the SokoPro sales profit of MEUR 9.4). Net
sales for the review period decreased by 0.7% from the reference
period net sales that were adjusted based on the SokoPro sale.
- Earnings per share (undiluted) were
-5.5 cents (2.5 cents).
Proposal for the distribution of
profits: The Board of Directors proposes to the Annual
General Meeting to the held on February 7, 2024 that no dividend be
distributed for the financial period that concluded on October 31,
2023.
CEO Tapio Tommila:
“As a whole, Panostaja’s 2023 financial period
progressed in a fairly bifurcated manner. In the first half of the
year, our demand was largely stable and the business operations of
our segments developed quite positively. In the second half, in
turn, demand began to decline, which had a negative impact on net
sales development especially at Grano, which is our largest
segment. From the start, our focus in the financial period was on
improving the profitability of business, and we succeeded in
pushing the profitability measures forward across a wide spectrum.
That said, our profitability development in the second half were
challenged by Grano’s declined demand and CoreHW’s substantially
weaker project profitability, as significantly more resources than
planned had to be tied up in important customer projects.
Despite the difficulties, we have been
determined in tackling the challenges at our segments, and the
change negotiations carried out at Grano will provide us with
consistent cost efficiency and the opportunity to safeguard our
profitability in a flexible manner, even in more challenging demand
situations. At Hygga, we have succeeded in improving profitability
to a considerable degree, and the profitability of Oscar Software
has developed in the right direction, despite the moderate level of
the growth. At CoreHW, we are carrying out an initiative to improve
project profitability and expect to see results starting from the
first quarter of the next financial period.
During the review period, we carried out a
substantial additional investment in the development and
commercialization of CoreHW’s own product business by allocating
almost MEUR 4 in extra funding to bolstering the product
development and commercialization measures of the indoor
positioning solutions. Our clear goal is to achieve significant
sales volumes for component products in the new financial
period.
The Board of Directors proposes that no
dividends be paid for the financial period that has now ended.
Pursuant to our strategy, we will be looking for new investments in
the current strategy period, and we estimate that it is important
for the overall profit of our shareholders to maintain a high
investment capacity in the present market climate. The number of
deals closed in the corporate acquisition market has dropped
substantially from the high levels of recent years, but our
projects have been of high quality. We expect the differences in
value expectations that have slowed down our discussions will start
to dissipate gradually. For our part, we will continue to actively
explore corporate acquisition opportunities in our own target
sectors.
We will begin the new financial period with
clear goals. Our priorities are continuing to improve and
accelerate Grano’s profitability and securing profitable growth
across our other segments. Our focuses are growing the continuously
invoiced software at Oscar Software and Hygga and commercializing
the product business at CoreHW. In accordance with our strategy, we
strive to add new value-adding segments to our portfolio.”
Financial Development November 1,
2022–October 31, 2023
Key FiguresMEUR |
Q4 |
Q4 |
12 months |
12 months |
|
8/23-10/23 |
8/22-10/22 |
11/22-10/23 |
11/21-10/22 |
Net sales, MEUR |
34.2 |
36.8 |
136.2 |
137.9 |
EBIT, MEUR |
-0.8 |
-0.6 |
-1.1 |
5.2 |
Profit before taxes, MEUR |
-2.3 |
-1.2 |
-4.3 |
3.2 |
Profit/loss for the financial period, MEUR |
-1.4 |
-1.0 |
-3.6 |
3.9 |
Distribution: |
|
|
|
|
Shareholders of the parent
company |
-0.8 |
-0.6 |
-2.9 |
1.3 |
Minority shareholders |
-0.7 |
-0.4 |
-0.8 |
2.6 |
Earnings per share, undiluted, EUR |
-0.014 |
-0.012 |
-0.055 |
0.025 |
Interest-bearing net liabilities |
42.4 |
42.3 |
42.4 |
42.3 |
Gearing ratio, % |
80.5 |
72.8 |
80.5 |
72.8 |
Equity ratio, % |
37.5 |
39.1 |
37.5 |
39.1 |
Equity per share, EUR |
0.62 |
0.71 |
0.62 |
0.71 |
Distribution of net sales by segment
MEUR |
Q4 |
Q4 |
12 months |
12 months |
Net sales |
8/23-10/23 |
8/22-10/22 |
11/22-10/23 |
11/21-10/22 |
Grano |
27.9 |
29.8 |
109.1 |
111.5 |
Hygga |
2.0 |
1.7 |
7.8 |
7.3 |
CoreHW |
1.5 |
2.6 |
7.9 |
8.0 |
Oscar Software |
2.8 |
2.8 |
11.5 |
11.2 |
Others |
0.0 |
0.0 |
0.0 |
0.0 |
Eliminations |
0.0 |
0.0 |
-0.1 |
-0.1 |
Group in total |
34.2 |
36.8 |
136.2 |
137.9 |
Distribution of EBIT by segment
MEUR |
Q4 |
Q4 |
12 months |
12 months |
EBIT |
8/23-10/23 |
8/22-10/22 |
11/22-10/23 |
11/21-10/22 |
Grano |
0.2 |
-0.5 |
1.9 |
8.7 |
Hygga |
0.0 |
0.1 |
-0.1 |
-0.4 |
CoreHW |
-0.6 |
0.5 |
-1.2 |
-0.5 |
Oscar Software |
0.2 |
-0.1 |
0.4 |
-0.5 |
Others |
-0.5 |
-0.6 |
-2.2 |
-2.2 |
Group in total |
-0.8 |
-0.6 |
-1.1 |
5.2 |
Panostaja Group’s business operations for the
current review period are reported in five segments: Grano, Hygga,
CoreHW, Oscar Software and Others (parent company and associated
companies).
One associated company, Gugguu Group Oy,
provided a report for the review period. The impact on profit/loss
of the reported associated companies in the review period was MEUR
-0.1 (MEUR -0.1), which is presented in a separate row in the
consolidated income statement. The development of Gugguu’s net
sales and EBIT has been commented on more specifically in the
Segments section.
Outlook for the 2024
Financial Period
As regards the corporate acquisition market, new
opportunities are available and the market is active.SMEs will
still need to utilize ownership arrangements and growth
opportunities, but the consistently high market liquidity and the
high price expectations of sellers, which tend to follow changes in
economic trends with some delay, make the operating environment
challenging for corporate acquisitions.We will continue exploring
new possible investment targets in accordance with our strategy and
assess divestment possibilities as part of the ownership strategies
of the investment targets.
It is thought that the demand situation for
different investments will develop in the short term as
follows:
- The demand for Grano, Oscar
Software, CoreHW and Hygga will remain
satisfactory.
The demand situation presented above involves
uncertainties relating to any geopolitical and macroeconomic
impacts that are difficult to anticipate. The effects of the war in
Ukraine and the related economic sanctions and geopolitical
tensions will increase economic uncertainty in Finland and abroad,
which may negatively impact segment demand or the availability of
materials, and thereby material prices and delivery capabilities.
If strengthened and prolonged, the inflation may have a negative
impact on the purchasing power of consumers and the willingness of
companies to make investments, which may weaken the demand
situation of our segments from the estimate provided
above.
Panostaja Oyj
Board of Directors
For further information, contact CEO Tapio
Tommila, +358 (0)40 527 6311
Panostaja OyjTapio TommilaCEO
Panostaja is an investment company developing
Finnish companies in the growing service and software sectors as an
active 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.
Panostaja has a majority holding in four
investment targets. Grano Oy is the most versatile expert of
content services in Finland. Hygga Oy is a company providing health
care services and the ERP system for health care providers. CoreHW
provides high added value RF IC design services. Oscar Software
provides ERP systems and financial management services.
- Panostaja Oyj Financial Statement 15.12.2023
Panostaja Oyj (LSE:0JPI)
過去 株価チャート
から 1 2025 まで 2 2025
Panostaja Oyj (LSE:0JPI)
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から 2 2024 まで 2 2025