Panostaja writes down approximately EUR 3.1 million of loan receivables
Panostaja Oyj Stock Exchange Release, Insider information April 30, 2024 at 13.00 p.m.
Panostaja writes down approximately EUR 3.1 million of loan receivables
Panostaja announced on 19.12.2017 that it had given a vendor loan in connection with the sale of KotiSun Group Oy. Panostaja reviews the valuation of loan receivables regularly and, based on the review, has written down approximately EUR 3.1 million in loan receivables from the vendor loan granted in connection with the sale of KotiSun Group. The write-down covers the entire carrying amount of the loan receivable.
Panostaja invested in KotiSun Group in 2014 and sold its holding in January 2018. In connection with the sale, Panostaja Group booked a capital gain before taxes of approximately EUR 33 million.
The write-down will be recorded in the result for the second quarter of fiscal year 2024. The write-down has no impact on Panostaja's comparable operating profit or cash flow.
Panostaja will publish its half-year financial report for November-April on 30 May 2024 at 10:00 a.m. EET.
Panostaja Oyj
Tapio Tommila
CEO
Additional information
CEO Tapio Tommila, Panostaja Oyj, +358 40 527 6311
About Panostaja Oyj
Panostaja is an investment company developing Finnish companies in the growing service and software sectors as an active shareholder. 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 2023 financial year, the Group’s net sales totalled MEUR 136,2.
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