Panostaja (PNA1V) Q1 2025 earnings summary

Executive summary

• Group net sales decreased by 1.8% year-over-year to MEUR 32.7 for Q1 2025, with only one of four segments growing.

• EBIT declined to MEUR -0.8 from MEUR -0.4, impacted by one-time costs of MEUR 0.8 related to Grano's change negotiations.

• Earnings per share (undiluted) improved slightly to -1.4 cents from -1.6 cents year-over-year.

• Market uncertainty persisted, with slow investment decisions and subdued customer demand across most segments.

• CoreHW delivered strong growth and profitability improvement, while Grano and Hygga faced declines.

Financial highlights

• Net sales: MEUR 32.7 (down 1.8% year-over-year).

• EBIT: MEUR -0.8 (vs. MEUR -0.4 year-over-year).

• Profit before taxes: MEUR -1.0 (vs. MEUR -1.1 year-over-year).

• Net loss: MEUR -1.1 (flat year-over-year).

• Exports accounted for 6.5% of net sales.

Outlook and guidance

• Corporate acquisition market remains slow due to economic uncertainty and high seller price expectations.

• Demand for Grano, Oscar Software, CoreHW, and Hygga expected to remain satisfactory, but subject to macroeconomic and geopolitical risks.

• Labor market instability and international trade policy add to uncertainty for the year.