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Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Pallas Air

0.52 EUR7.9, 9.00
Less than 1K followers

PALLAS

First North Finland

Industrial Goods & Services

Industrials

Overview
Financials & Estimates
Investor views
Compare
+4.00 %
-5.45 %
-16.13 %
-14.75 %
-13.33 %
-39.53 %
-93.46 %
-
-99.39 %

Pallas Air operates in the industrial sector. The company offers technical solutions in air purification and related products. The group's operations are divided into several business areas and the solutions are used, for example, in industry and for real estate. Customers are found on a global level with the greatest concentration in the Nordic region. The products are primarily aimed at corporate customers and larger institutions, but also at private individuals.

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Market cap
668.86K EUR
Turnover
-
P/E (adj.) (26e)
-0.22
EV/EBIT (adj.) (26e)
-6.68
P/B (26e)
-0.04
EV/S (26e)
2.91
Dividend yield-% (26e)
-
Coverage
Recommendation
Sell
Target price
-
Updated
01.09.2026
Disclaimer
Thomas Westerholm
Thomas Westerholm

Analyst

Latest research

Latest analysis report

Released: 01.09.2026

Revenue and EBIT-%
EPS and dividend
Risk
Business risk
Valuation risk
Low
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Forum discussions
Spotted on X. This doesn’t look strong, but I suppose it doesn’t surprise anyone who has read through the Pallas Air thread. It’s puzzling that this isn’t bankrupt yet.
8/12/2026, 10:25 AM
by Blackparta
13
Good questions, but getting answers is difficult or impossible. Retail investors have no visibility, and Inderes probably doesn’t either. We are all dependent on public information. You can ask, but the answer is likely formulated in the company’s interest, not objectively. Usually...
8/29/2026, 7:57 AM
by Nordman09
7
The adjustment process of Pallas Air’s 2.7 million euro debts raises questions about investor protection, customers, and oversight On September 3, 2026, Pallas Air announced that the board of its wholly-owned subsidiary Lifa Air Limited has initiated a process to reassess debts of...
9/4/2026, 6:54 AM
by Mauno Väliheikkilä
5
Now that H1/2026 has been published, I’d like to return to the Genano question. In its half-year report, Pallas Air states that its liquidity is weak. Genano Group Oy’s €1.8 million loan has matured, and the company notes that a failure to restructure matured loans could jeopardize...
8/31/2026, 12:29 PM
by Mauno Väliheikkilä
5
Where were the obligations related to Genano’s future maintenance recorded? I have reviewed the financial statements of Genano Oy Ab for the years 2020–2024 as well as certain financing agreements used by the company. In the agreements I examined, the price of the device included...
8/25/2026, 5:20 PM
by Mauno Väliheikkilä
5
Thomas Westerholm / Inderes assessed on November 2, 2023, following the merger of Lifa Air and Genano, that: “The merger removed the acute financing risk.” At the time, Inderes also estimated that the new entity would offer better prerequisites than before for achieving sustainable...
8/28/2026, 2:17 PM
by Mauno Väliheikkilä
2
In this morning’s preview, Inderes quite rightly highlights Pallas Air’s acute cash crisis, noting that net debt and short-term liabilities have risen to an unsustainable level relative to the company’s debt-servicing capacity. But in my opinion, this leads to an even more pertinent...
8/28/2026, 11:40 AM
by Mauno Väliheikkilä
2
Read more on our forum
Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Pallas Air H1'26: Likviditetskrise holder turnaround-processen fanget
Research01.09.2026, 07.39 by
Thomas Westerholm

Pallas Air H1'26: Likviditetskrise holder turnaround-processen fanget

Pallas Airs omsætning for H1 faldt kraftigere end vores forventninger, da den anstrengte finansielle situation begrænsede selskabets evne til at investere i arbejdskapital og imødekomme efterspørgslen.

Pallas Air
Pallas Air H1'26-preview: Milepæl for fremskridtene i den skarpere strategi
Analyst Comment28.08.2026, 06.42 by
Thomas Westerholm

Pallas Air H1'26-preview: Milepæl for fremskridtene i den skarpere strategi

Vi venter, at Pallas Airs omsætning er faldet i forhold til sammenligningsperioden som følge af nedlukningen af maskeforretningen.

Pallas Air
Analyst Comment12.08.2026, 07.15 by
Thomas Westerholm

Pallas Airs informationsundersøgelse endte med en beslutning om ikke at rejse tiltale

Vi anser dog, at afslutningen af undersøgelsen er positiv for selskabet, da den gør det muligt at fokusere opmærksomheden på selskabets operationelle udvikling.

Pallas Air

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Pallas Air H2'25: Ilten er ved at slippe op, da balancestillingen strammes
Research30.03.2026, 07.15 by
Thomas Westerholm

Pallas Air H2'25: Ilten er ved at slippe op, da balancestillingen strammes

Pallas Airs regnskabsmeddelelse for 2. halvår levede ikke op til vores lave forventninger, selvom selskabets pengestrøm var stærkere end forventet.

Pallas Air
Pallas Air Q4'25 preview: Kontantkrise og nedskrivninger overskygger forventningerne
Analyst Comment26.03.2026, 06.25 by
Thomas Westerholm

Pallas Air Q4'25 preview: Kontantkrise og nedskrivninger overskygger forventningerne

Vi forventer, at selskabets omsætning er faldet år-til-år, selvom det industrielle VOC-forretningsområde har udviklet sig positivt.

Pallas Air
Pallas Air opgiver masker og skærper sin strategi
Analyst Comment20.02.2026, 06.30 by
Thomas Westerholm

Pallas Air opgiver masker og skærper sin strategi

Pallas Air trækker sig ud af maskeforretningen og vil fremover fokusere stærkere på datastyring, kunstig intelligens og robotteknologi i sine serviceløsninger.

Pallas Air