In line with previous years, 2025 was a challenging year for Panostaja in terms of the operating environment and market situation. The expected turnaround in the Finnish economy did not materialize, and the general uncertainty was reflected in customers\u2019 investment decisions and project progress. There were differences in the performance of the companies in which we have invested \u2013 overall, the companies performed reasonably well.<\/p>\n
In a challenging market situation, the emphasis was on long-term measures. Determined measures were taken to strengthen profitability, competitiveness and the preconditions for growth in several investment targets. At the same time, Panostaja\u2019s role as an active owner and growth partner was highlighted: we have been actively present in the daily lives of our investment targets, supporting the companies with a forward-looking approach and maintaining a close dialogue that has helped clarify business choices and decision-making.<\/p>\n
Among the investment targets, the year was somewhat divided. CoreHW and Oscar Software performed well, while the difficult economic situation had a more pronounced impact on the business of Grano and Gugguu. At Grano, change negotiations were initiated at the beginning of the year to seek cost savings of around MEUR 3. Gugguu, on the other hand, underwent more extensive operational changes. Across our investment targets, measures were aimed at both improving profitability and strengthening the preconditions for growth.<\/p>\n
There were also clear successes in the development of investment targets in 2025. CoreHW\u2019s result improved significantly. In addition, the progress of the pilot phase of CoreHW\u2019s product business in Japan opened up new growth opportunities for the coming years. For its part, Oscar Software reported positive growth in its software business, despite the difficult market environment. The progress of the launch of the Oscar P1 ERP system was one of the most significant events of the financial year.<\/p>\n
The corporate acquisition market remained slow in 2025, as uncertainty and volatility in the economic outlook slowed decision-making and many projects were delayed. Despite this, Panostaja\u2019s own project flow remained at a good level, and we continued to work actively to identify new investment opportunities.<\/p>\n
During the financial year, we made a new investment in Lenio, an SaaS company that develops an ERP solution for mobile work. The market is extremely attractive to us and the investment supports our strategy of portfolio renewal with a focus on software and services businesses. Lenio is a great example of a company in the context of which we can leverage our deep industry-specific and SaaS expertise to provide concrete support and build growth.<\/p>\n
The portfolio renewal was also supported by the agreement signed at the end of the financial year to sell Hygga\u2019s clinic business. We have owned Hygga for about ten years, and the transfer of the business operations to a new owner is a natural part of the portfolio development and renewal.<\/p>\n
The focus of the strategy is to continue to renew the portfolio through investments focused on the software and service sectors. In 2025, this translated into concrete actions: making a new investment, exiting after a long period of ownership and developing support for value creation, especially for software and services companies.<\/p>\n
We are constantly developing our own value creation playbook to help our investment targets build growth, develop their business operations and manage challenging situations. In these uncertain times, the support provided by the owner, close dialogue and foundational assistance are more important than ever \u2013 in these respects, Panostaja has played a clear and active role.<\/p>\n
In 2025, we also continued our systematic efforts regarding responsibility. A key part of the accountability work was building CSRD reporting capacity. This work has deepened the understanding of responsibility issues at Panostaja and across its investments. Sustainability actions have been promoted on a company-by-company basis, focusing on the most relevant themes for each business.<\/p>\n
We are looking to the future. For 2026, the clear objective is on a new investment. Several of our investments are in a significant developmental stage, and there are expectations for growth and profitability. A possible economic recovery would support this development, but we are not basing our actions on it. We will continue to focus our determined efforts on competitiveness, managing growth and creating shareholder value over the long term.<\/p>\n
Tapio Tommila Stable development in a challenging environment In line with previous years, 2025 was a challenging year for Panostaja in terms of the operating environment and market situation. The expected turnaround in the Finnish economy did not materialize, and the general uncertainty was reflected in customers\u2019 investment decisions and project progress. There were differences in the […]<\/p>\n","protected":false},"author":2,"featured_media":1569,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n
\n<\/strong>CEO<\/p>\n","protected":false},"excerpt":{"rendered":"