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Panostaja Oyj (PNA1V.HE)

PNA1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Panostaja: Takoma and Takoma Gears decide to file for bankruptcy
Monday, 20 Mar 2017 05:50am EDT 

Panostaja Oyj : Boards of Panostaja subsidiary Takoma Oyj and Takoma Gears Oy decide to file for bankruptcy . Group has made heavy losses due to sharp decline of offshore and marine industry, which has diminished group's solvency and liquidity . Together with Panostaja, Takoma has implemented significant functional changes aimed at adapting the operations to the prevalent demand and making them profitable once more . However, efforts to improve sales efficiency and acquire new customers have failed to increase business volume, and demand for Takoma products on market has been insufficient . Takoma is currently unable to implement its reorganization program and continue its operations without significant additional financing .Panostaja will record an estimated loss of 2.5 million euros ($2.7 million) in group's Q2 profit/loss.  Full Article

Panostaja Q1 EBIT down at 0.2 million euros
Thursday, 2 Mar 2017 03:00am EST 

Panostaja Oyj : Q1 2016/17 net sales 45.4 million euros versus 40.7 million euros year ago . Q1 2016/17 EBIT 0.2 million euros versus 1.3 million euros year ago . Sees demand of Kotisun, Selog and Helakeskus will remain good in 2017 . Sees demand of Grano and KL-varaosat to remain satisfactory in 2017 .Sees demand of Takoma, Megaklinikka and Heatmasters will remain poor in 2017.  Full Article

Panostaja specifies 2016 EBIT outlook
Thursday, 1 Dec 2016 03:00am EST 

Panostaja Oyj : 2016 EBIT is estimated to be some 9 million euros ($9.6 million) (2015: 7.3 million euros) . 2016 net sales is estimated to be some 172 million euros (2015: 148.2 million euros) .According to guidance issued on Dec. 11, 2015 EBIT is expected to improve substantially over course of 2016 financial period.  Full Article

Panostaja q3 group EBIT rises to EUR 2.4 million
Thursday, 1 Sep 2016 03:00am EDT 

Panostaja Oyj : Q3 net sales 41.6 million euros ($46.4 million) versus 37.9 million euros year ago . Q3 EBIT of entire group increased to 2.4 million euros from 1.0 million euros . Keeps its result management issued on Dec. 11, 2015 unaltered .2016 group’s EBIT is expected to improve substantially over the course of the 2016 financial period.  Full Article

Panostaja: final additional purchase price of Flexim Security
Thursday, 16 Jun 2016 03:15am EDT 

Panostaja Oyj : Confirms final additional purchase price of Flexim Security . Final additional purchase price after expenses is about 4.7 million euros ($5.30 million) .Previous estimate of fair value of additional purchase price receivable as reported on June 2, 2016 was 4.0 million euros ($4.51 million), of which Panostaja's share before taxes was 2.8 million euros.  Full Article

Panostaja Q2 EBIT increases to EUR 2.7 million
Thursday, 2 Jun 2016 03:00am EDT 

Panostaja Oyj : Q2 net sales 44.5 million euros ($49.81 million) versus 34.6 million euros year ago . Q2 EBIT 2.7 million euros versus 2.3 million euros year ago . Keeps FY result management issued on Dec. 11, 2015 unaltered .Group’s 2016 EBIT is expected to improve substantially over the course of the 2016 financial period.  Full Article

Panostaja Oyj subsidiary ‍Grano buys majority of shares in Luotta Oy​
Monday, 11 Jan 2016 07:00pm EST 

Panostaja Oyj:‍Grano Oy acquired majority in Luotta Oy​.7 employees of Luotta Oy moves to Grano​.  Full Article

Panostaja gives FY 2015/16 EBIT outlook in line with analysts' estimates; proposes dividend for FY 2014/15
Friday, 11 Dec 2015 02:00am EST 

Panostaja Oyj:Proposes dividend of 0.05 euro per share be paid for FY 2014/15.Says intention is to implement its strategy during financial period by investing in 1-2 new segments and making corporate acquisitions in current segments of choice.Divestment possibilities will also be assessed actively as part of segments' owner strategies.Group's EBIT is expected to improve substantially over course of FY 2015/16 financial period.Reported EBIT of 7.3 million euros for FY 2014/15.FY 2015/16 EBIT 14.35 million euros-Thomson Reuters I/B/E/S.  Full Article

Panostaja signs EUR 30 mln financing arrangement
Tuesday, 8 Dec 2015 09:30am EST 

Panostaja Oyj:Strengthens its financial position with a 30 million euro financing arrangement.Package consists of 20 million euros in loans and a 10 million euros acquisition limit.Loans are secured debt loans, lenders consist of a bank and institutions.5 million euros of the loans falls due 3 years from withdrawal and a share of 15 million euros falls due on Oct. 31, 2019.Loans shall be withdrawn by April 30, 2016.  Full Article

Panostaja keeps FY 2015 result management unaltered
Wednesday, 2 Sep 2015 03:00am EDT 

Panostaja Oyj:Keeps FY 2015 result management unaltered.Group's comparable net sales in FY 2015 financial period are expected to be about 19−23 pct greater than in FY 2014 financial period (121.1 million euros).Group's FY 2015 comparable EBIT is expected to be on same level as or lower than in FY 2014 financial period (8.1 million euros).  Full Article

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BRIEF-Panostaja: Takoma and Takoma Gears decide to file for bankruptcy

* Boards of Panostaja subsidiary Takoma Oyj and Takoma Gears Oy decide to file for bankruptcy