Panostaja Continues to Face Challenges with Profitability in Target Companies – Group Experiences Loss in First Quarter


Panostaja Continues to Face Challenges with Profitability in Target Companies – Group Experiences Loss in First Quarter

Panostaja has been working to protect the profitability of its portfolio companies, but unfortunately reported a loss in the first quarter of the financial year. Despite this, the demand outlook for their target companies remains satisfactory. One of the key target companies for Panostaja is To Grano, in which they own more than half.

In the first quarter, Panostaja reported an operating loss of 0.4 million euros, compared to an operating profit of 0.1 million euros in the same period last year. The company’s turnover in the first quarter was 33.3 million euros, down 6.1 percent from the comparison period. Only one of Panostaja’s investments, Hygga, saw an improvement in turnover and operating results during this time.

The CEO of Panostaja, Tapio Tommila, mentioned that the market environment remained challenging and customers were cautious in making purchasing decisions. The company continued to focus on measures to improve profitability, including change negotiations at Grano. Panostaja expects to achieve annual cost savings of around 4.5 million euros through organizational changes and other cost-saving measures.

Despite the challenges, Panostaja is optimistic about the short-term demand outlook for all four of its investment targets. The company is actively creating new projects and exploring acquisition opportunities in line with their goals. Panostaja remains committed to improving the performance of its portfolio companies and responding to market conditions.

Leave a Reply