contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


panostajas-investment-target-grano-starts-change-negotiations

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

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.

I somehow believe that at some point, everything else will be sold off and Panostaja will become just CoreHW.

I myself am involved in the investment practically only because of CoreHW’s potential. OscarS is quite okay. On the downside, the management’s track record is quite limited, Hygga adventures are expensive, and Grano’s share is still frighteningly large, and the allocation of money, which was still recent, was more or less subpar.

Let’s talk to myself again about my thoughts on the potential of Panostaja’s CoreHW. This is not a sales pitch or an investment recommendation, but rather my own thoughts on why I am involved in this and what I perhaps see in it that others don’t believe in. CoreHW employs an exceptionally high number of doctors (PhDs) and high-level experts with long experience in similar undertakings. This creates a unique moat in this niche industry. The IP portfolio is extensive and has its own value. Design and customization ensure more flexible operating models. They don’t just sell bulk. The number of employees has been increased by 20% over the last year, and there’s an open position being sought again. Would this be done if they weren’t preparing for a significant increase in workload and demand for their own product? The RTLS (Real-Time Locating System) positioning product is ready, which has been a long-term effort. In my opinion, CoreHW has handled this exemplarily. They have researched the market and responded to demand with this product. Certifications have been obtained, although it has been mandatory as they are required in several countries before deployments. CoreHW also has an extensive collection of ISO certifications for this indoor positioning.  ERAI Member ESD Association ANSI/ESD-S20.20 AS 9120B Certified ISO 9001 Certified ISO 13485 Certified ISO 14001 Certified ISO 22301 Certified ISO 28000 Certified ISO 37001 Certified ISO 37301 Certified ISO 45001 Certified  This set of certifications covers quality management, environmental responsibility, occupational health and safety, information security, supply chain management, medtech requirements, as well as regulatory and ethical systems. It supports CoreHW’s ability to work with global Tier1/OEM customers, especially in the RTLS and IP product model. Not much has been written about this, but I believe CoreHW has the potential for very high hardware margins. The software side, as I understand it, has been outsourced to Unikie, which is responsible for the software, API interfaces, software development, and maintenance. I suspect that compensation for this is handled through SaaS revenues, the distribution of which between Unikie and CoreHW depends on agreements. This implementation can be a SaaS, hybrid, or on-premise model. In any case, Unikie will take the lion’s share, if not all, of these revenues. There may also be licensing; for example, a customer might pay for software usage rights, updates (e.g., for tags), cloud service, maintenance, technical support, integrations, cybersecurity, etc. What does this mean for CoreHW? CoreHW can focus on what’s essential: design and hardware. Scaling is handled with a fabless model, i.e., through TSMC. Furthermore, the design services themselves have so far covered virtually all costs, from office rents to salaries. This means that the hardware margin generated from future sales could very well be with a very high margin and EBIT. A pilot project base of about a million is large, and depending on the scale of deployments, very significant sales revenues can be achieved. How will these potential sales be distributed? Will the entire lump sum come in the same year, or will it be spread over several years? I believe that at least for the largest orders, it will be spread out. Is this a good or a bad thing? I believe it’s primarily a good thing. Investors value a pipeline where predictability and accelerating growth are important. It would be worse if sales came in all at once and then collapsed the following year, even if the start was strong but then sales didn’t pick up in the same way. Predictability also often boosts those multiples. Several pilot projects have been ongoing for a long time. Is this a bad thing? In my opinion, no. If the products were weak, the pilots would have already been discontinued. In different sectors, these pilots can last up to 3-18 months. The message I’ve linked before is that pilots have progressed, and customers have moved them into production. This is encouraging. Tommila’s statements that the fiscal year-end in Japan falls in March-April are true. It is very likely that major decisions will be made around that time or at the latest before summer. This RTLS is not even the only sector where CoreHW is lurking and working. Automotive and collaboration with a Fortune 500 company could still bring more interesting prospects. The radar was already ready, but also other things. They operate in an industry that is currently hot. Growth prospects in these sectors are very good. Compared to that, the valuation is ridiculously cheap in my opinion. There is risk here, somewhat limited by their existing design business which already generates revenue, but the potential to truly hit the jackpot is there. Everyone sees things from their own perspective, but I see the earnings potential here as such a good opportunity that I have carefully increased my risk. Perhaps by summer, it will materialize in one direction or another. I am attaching the relevant text from an article I previously linked. And what does this mean in practice? At least for me, it means that pilots have partly moved forward. They have practically moved into production, even if it hasn’t brought a volume increase yet. It probably depends largely on whether the pilots were initially conducted in a real production environment, and how long these will still be tested in production. Longer validation periods in production are often associated with conservative industries such as hospital environments or, for example, the defense sector. “The certification of our Tags and Locator validates years of R&D and comprehensive testing,” said Mika Jäsberg, VP of RTLS and Devices Business at CoreHW. “We’re thrilled that several customers are now entering production with these solutions – demonstrating that the technology is not only proven but ready for real-world, large-scale deployment.” With the certification now in place, CoreHW has begun fulfilling commercial orders for Tag and Locator units. Early customers – including partners in industrial automation, logistics, and healthcare – are now launching production systems that rely on CoreHW’s high-accuracy Bluetooth AoA technology platform.

Yes, I understand that! I myself was also very confused at first when 7 million euros were missing from the cash, and I did give the company feedback on this communication. Even though the reporting was technically correct, few read the report far enough to see how much cash was available after the Hygga changes.

Thanks for your answers👍 I’ll try to challenge a bit, because this was quite a big disappointment as an owner.

I understand your point and you are partially right. Part of the reason is also that unlisted companies may have overestimated the value of their companies, as the risen interest rate has not directly reflected in their valuations as it has in the stock market. For this reason, buyers and sellers do not meet, and transaction volumes decrease. The same phenomenon has occurred in the housing market. But indeed, this was an unpleasant surprise, that Panostaja no longer has money for significant new acquisitions, and it clearly changed the investment story.

It is certainly a fact that no corporate acquisitions have been made. However, this is mainly due to the lack of capital in the market? Even a quick check with AI says that interest rates, economic uncertainty, etc. Panostaja would have had capital, but it has not been used. Or, according to information that has now emerged, it has been used to cover Hygga’s dismal business operations.

Panostaja

Panostaja Oyj Stock Exchange Bulletin, Insider Information August 16, 2023 13.15 p.m Panostaja's investment target Grano starts change negotiations Panostaja Plc's investment company Grano will...

Panostaja Oyj&nbsp; &nbsp;Stock Exchange Bulletin, Insider Information&nbsp; &nbsp; August 16, 2023&nbsp; &nbsp; &nbsp;13.15 p.m Panostaja's investment target Grano starts change negotiations Panostaja Plc's investment company Grano will start change negotiations targeting all Grano Group personnel, excluding its subsidiary Grano Diesel. Change negotiations will be initiated to improve the company's profitability and competitiveness and to secure future operational capacity in a weakened market situation. According to a preliminary estimate, the change negotiations may lead to the termination of employment contracts of a maximum of 46 employees, changes in the terms of employment or part-time employment. Temporary and/or open-ended lay-offs of the entire personnel may also be considered by October 2024. The change negotiations cover approximately 850 people. Panostaja Oyj Tapio Tommila CEO Additional information: CEO Tapio Tommila, Panostaja Oyj, Panostaja Oyj, +358 40 527 6311 CEO Kimmo Kolari, Grano Oy, +358 40&nbsp;769 5807 Panostaja&nbsp;is an investment company developing Finnish companies in the growing service and software sectors as an active shareholder.&nbsp;The company aims to be the most sought-after partner for business owners selling their companies as well as for the best managers and investors. Together with its partners, Panostaja increases the Group's shareholder value and creates Finnish success stories. Panostaja has a majority holding in four investment targets. Panostaja’s shares (PNA1V) are quoted on the Nasdaq Helsinki Stock Exchange. In the 2022 financial year, the Group’s net sales&nbsp;totaled&nbsp;MEUR 137,9. <a href="https://www.globenewswire.com/Tracker?data=0WS0dI1yASEd1-Vc5Ax__1v3eRc6chli802S7dTcAdaFYAR3kpSs2CRqXhpY8eqgWbGm_TlsrdBAQuHaCMo4eZrWG6Keo3cnMVpjqaHpz1k=">https://panostaja.fi/en/</a> <img src="https://www.globenewswire.com/newsroom/ti?nf=MTAwMDgzNDg3NCM0MDE1OTU3MTMjMjA5NDc2NA=="> <img src="https://ml-eu.globenewswire.com/media/Yjg2MTBiYTEtMDZkNS00OGQ0LTliZmMtNzE1NGVmMmNmNzkyLTExMDYzMzU=/tiny/Panostaja-Oyj.png">