Panostaja (PNA1V) Transition period summary

Executive summary

• Net sales for the 14-month period rose to €146.4M from €126.3M year-over-year, with growth in three of four segments.

• Focused on developing and owning growth-oriented service and software companies, with a strategy emphasizing value creation and responsible ownership.

• Portfolio renewal included the acquisition of Lenio and the divestment of Hygga's clinic business.

• Short review period saw weakened demand and subdued domestic economic conditions, impacting results.

• EBIT for the period was €0.2M, down from €1.8M, impacted by a €3.1M loan receivable write-down.

Financial highlights

• Revenue for the 2-month period was €19.5M, down from €20.4M year-over-year.

• EBIT for the 2-month period was -€1.8M, down from -€0.5M.

• Profit/loss for the 14-month period was -€3.0M, including a €3.1M loan receivable write-down.

• Operating cash flow improved to €12.6M from €12.3M year-over-year.

• Gross capital expenditure was €6.7M, mainly for tangible and intangible assets.

Outlook and guidance

• Demand for Oscar Software, Lenio, CoreHW, and Grano expected to remain satisfactory in the short term.

• Corporate acquisition market remains challenging but is expected to recover as the economic outlook improves.

• Key objectives include recurring revenue growth in software, product commercialization at CoreHW, and profitability improvement at Grano.

• Board proposes no dividend for the completed financial year, prioritizing strategic investments.