The bettor’s operating profit dropped slightly – Grano was unexpectedly the best bet

An investment company with a different accounting period Bettor published its half-year review today. The figures for August–October, especially in the top row, were largely at the level of the comparison period.

Panostaja’s turnover in August–October reached 33.6 million euros, while the figure for the comparison period a year ago was 33.5 million euros. Turnover increased in one of the four investment targets.

Operating profit also increased in one investment. The entire group’s operating profit weakened to 1.1 million euros, while the figure for the comparison period was 1.5 million euros.

Undiluted earnings per share were -0.9 cents in August–October, while in the comparison period it was still 1.3 cents.

Panostaja signed a contract during the review period Sake from the sale of the clinic business. The figures of the sold business are reported in the income statement in the now discontinued businesses for both the review and comparison period.

The result of the review period includes a loss of approximately EUR 0.5 million from the sale of the clinic business, instead of the previous estimate of approximately EUR 2.0 million. The Hygga Flow service business will be reported as part of the Other segment in the future, the company says.

“During the fourth quarter, the uncertainty of the market environment continued as it did at the beginning of the financial year. Investment decisions continued to proceed slowly in the customer base of our investment targets, and no significant signs of recovery have yet been seen in customer demand”, CEO of Panostaja Tapio Tommila states in the review.

Grano is finally heading for the better

Panostaja’s fourth quarter turnover grew in one of the four investment targets, and surprisingly it was Panostaja’s largest investment target Grainwhose turnover increased by two percent compared to the comparison period.

Grano’s turnover increased from 27.2 million to 27.7 million euros and the operating profit improved from 1.2 million to 1.6 million euros.

The Oscar Software turnover decreased from 3.2 million euros in the comparison period to 3.1 million euros. At the same time, the operating result also came down from 0.5 million to 0.2 million euros.

CoreHW:n turnover decreased from 2.9 million euros to 2.5 million euros and operating profit from 0.6 million to 0.1 million euros. However, the comparative period was strong.

“The profitability level of CoreHW in the review period was affected by the full start of planned depreciation of our own indoor positioning product solutions in the review period,” Tommila explains.

Lenion turnover rose from zero to 0.2 million, but operating profit fell from zero to -0.2 million euros. In that case, the result was burdened by the costs of the business acquisition carried out in June.

Views of the objects unchanged

In his outlook, Panostaja says that the demand situation for Oscar Software, Lenio, CoreHW and Grano will remain satisfactory.

“The calm phase in the corporate market continued throughout the review period, and the number of properties remained lower than usual. We are actively focusing on creating our own project flow and continue to explore new acquisition opportunities,” Tommila characterizes in the announcement.