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Panostaja: Granon restruktureringsforhandlinger afsluttet

PNA1VAnalyst Comment30.10.2026, 07.55
Arttu HeikuraAnalyst
Discuss

Automatisk oversættelse: Oprindeligt udgivet på finsk 30.10.2026, 06.55 GMT. Giv feedback her.

Panostaja meddelt torsdag, at restruktureringsforhandlinger for selskabets største investering, Grano, er afsluttet. Som resultat af forhandlinger kan Grano midlertidigt opsige det berørte personale (cirka 630 personer) i højst syv dage inden udgangen af det aktuelle år, hvilket svarede fuldstændigt til selskabets oprindelige estimat. Som vi fremhævede allerede ved forhandlingerenes begyndelse i midten af oktober, estimerer vi, at de midlertidige opsigelser vil medføre kortsigtede omkostningsbesparelser på højst cirka 1 MEUR, som selskabet reagerer med på den svage efterspørgsel inden for visse brancher. Disse midlertidige tilpasningsforanstaltninger understøtter Granos omkostningseffektivitet i løbet af årets sidste del, men de påvirker ikke vores estimater for de kommende år, som danner grundlag for værdiansættelsen af Grano. Dermed medfører den forventede beslutning ingen revisioner af vores estimater eller vores holdning til Panostaja.

Panostaja is an investment company. The company acquires and develops small and medium-sized companies with long-term development potential. In addition to growth potential, the companies focus on actively owning and driving strategic changes. The investment portfolio is focused on several industries with the greatest concentration on healthcare and industry across the European market. The company's headquarters are located in Tampere.

Read more on company page

Key Estimate Figures27.08

202526e27e
Revenue150.0122.8127.3
growth-%11.9 %-18.1 %3.7 %
EBIT (adj.)0.2-0.81.8
EBIT-% (adj.)0.1 %-0.7 %1.4 %
EPS (adj.)-0.06-0.060.00
Dividend0.000.000.01
Dividend %3.3 %
P/E (adj.)neg.neg.78.3
EV/EBITDA4.55.75.1

Forum discussions

I consider the purchase price reasonable and fair. At this ARR, multiples of 4-6x have been paid for comparable companies. An interesting company...
yesterday
by Tunturisusi
5
Tässä on Artun kommentit tästä Panostajan uudesta ostoksesta. Panostaja tiedotti torstaina sijoittaneensa 3,9 MEUR riskienhallintaohjelmistoja...
yesterday
by Sijoittaja-alokas
2
Inderes Panostaja sijoittaa riskienhallintaohjelmistoyhtiö Inclusiin - Inderes 5.11.2026 13:00:09 EET | Panostaja Oyj | SisäpiiritietoPanostaja...
11/5/2026, 11:25 AM
by Blackparta
2
CoreHW’s improved situation indeed improves Panostaja’s situation, both through the increased value of the ownership stake and the improved ...
11/2/2026, 11:44 AM
by Hosuheikki
2
Inderes – 2 Nov 26 Panostaja: Merkittävä sopimus nostaa CoreHW:n tulostasoa - Inderes Suunnittelusopimus nostaa kohdeyhtiön tulostasoa ja laskee...
11/2/2026, 6:16 AM
by Tunturisusi
2
I wouldn’t spin that as bearish either, since the contract itself represents an 80% annual revenue growth for at least the next few years. Overall...
10/30/2026, 8:21 PM
by Tunturisusi
2
Unfortunately, there’s also a bear case scenario here where the client owns any IP that might be generated in the project. Great news nonetheless...
10/30/2026, 8:18 PM
by NOKNOK
1