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Panostaja: Granos förhandlingar om nedskärningar har avslutats

PNA1VAnalyst Comment2026-10-30 07:55
Arttu HeikuraAnalyst
Discuss

Automatisk översättning: Ursprungligen publicerad på finska 2026-10-30 06:55 GMT. Ge feedback här.

Panostaja meddelade på torsdagen att förhandlingarna om nedskärningar för det största placeringsobjektet Grano har avslutats. Som ett resultat av förhandlingarna kan Grano permittera den personal som omfattas (cirka 630 personer) i högst sju dagar före utgången av det innevarande året, vilket helt motsvarade bolagets ursprungliga uppskattning. Såsom vi lyfte fram redan i mitten av oktober när förhandlingarna inleddes, bedömer vi att permitteringarna ger kortsiktiga kostnadsbesparingar på upp till ungefär 1 MEUR, varmed bolaget reagerar på den svaga efterfrågan inom vissa branscher. Dessa tillfälliga anpassningsåtgärder stöder Granos kostnadseffektivitet under slutet av året, men de påverkar inte våra estimat för de kommande åren, vilka utgör grunden för värderingen av Grano. Det väntade beslutet medför därmed inga revideringar av våra estimat eller vår ståndpunkt gällande 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