Reported Earnings • Mar 23
Full year 2025 earnings released: EPS: €0.73 (vs €0.28 loss in FY 2024) Full year 2025 results: EPS: €0.73 (up from €0.28 loss in FY 2024). Revenue: €153.3m (up 14% from FY 2024). Net income: €1.96m (up €2.71m from FY 2024). Profit margin: 1.3% (up from net loss in FY 2024). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Electronic industry in the United Kingdom. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to €20.60, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 19x in the Electronic industry in the United Kingdom. Total returns to shareholders of 82% over the past year. Reported Earnings • Feb 17
Full year 2025 earnings released: EPS: €1.45 (vs €0.28 loss in FY 2024) Full year 2025 results: EPS: €1.45 (up from €0.28 loss in FY 2024). Revenue: €155.6m (up 16% from FY 2024). Net income: €3.90m (up €4.66m from FY 2024). Profit margin: 2.5% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electronic industry in the United Kingdom. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 29% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Shares are highly illiquid. Earnings have declined by 29% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€42.5m market cap, or US$48.1m). Reported Earnings • May 01
First quarter 2025 earnings released: EPS: €0.26 (vs €0.34 loss in 1Q 2024) First quarter 2025 results: EPS: €0.26 (up from €0.34 loss in 1Q 2024). Revenue: €34.8m (up 6.7% from 1Q 2024). Net income: €700.0k (up €1.60m from 1Q 2024). Profit margin: 2.0% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Electronic industry in the United Kingdom. Announcement • Apr 16
Boreo Oyj Announces Board and Committee Appointments Boreo Oyj announced that at the Annual General Meeting held on 15 April 2025, approved the appointment of Mattias Björk as a new member of the Board of Directors. The Board of Directors elected in its first meeting after the General Meeting Simon Hallqvist as the Chair of the Board. The Board of Directors elected also members to its Committees. Jouni Grönroos (the Chair), Mattias Björk and Noora Neilimo-Kontio were elected as the members of the Audit Committee. Camilla Grönholm (the Chair), Simon Hallqvist and Jussi Vanhanen were elected as the members of the Nomination and Remuneration Committee. Announcement • Apr 02
Boreo Oyj (HLSE:BOREO) has signed an agreement to acquire Spetselektroodi Aktsiaselts from Indrek Ranne. Boreo Oyj (HLSE:BOREO) has signed an agreement to acquire Spetselektroodi Aktsiaselts from Indrek Ranne on March 31, 2025. The purchase price will be paid in cash. The payment will be made in two installments: two-thirds upon closing of the transaction and the remaining amount in the fourth quarter of 2025. Boreo will finance the payment of the purchase price using its existing financing facilities. Following the transaction, the Spetselektroodi will operate as part of Boreo's Technical Trade business area, led by the Company's current CEO Karl Laasik. He currently serves as the Company's Director of Technical Support. The transaction is subject to approval by the Estonian competition authorities. For the period ending December 31, 2024, Spetselektroodi Aktsiaselts reported total revenue of €3.6 million. The transaction is expected to close in April-May 2025. Announcement • Nov 05
Boreo Oyj, Annual General Meeting, Apr 15, 2025 Boreo Oyj, Annual General Meeting, Apr 15, 2025. Announcement • Aug 02
Boreo Oyj Appoints Jesse Petäjä as New Chief Financial Officer, Effective as of 1 September 2024 Boreo Oyj has appointed Jesse Petäjä as a new Chief Financial Officer effective as of 1 September 2024. He will replace Aku Rumpunen in the role, who has previously announced that he will leave Boreo to pursue other opportunities outside the company. Rumpunen continues in the company until October 2024. Petäjä has since 2021 headed Boreo’s M&A function, acted since 2022 as a member of the Group Management Team and from late 2023 co-headed the Technical Trade business area together with Richard Karlsson. Going forward, Petäjä continues to be responsible for the M&A function and Karlsson for the Technical Trade business area. Announcement • Jun 14
Boreo Oyj Announces Resignation of Aku Rumpunen as Chief Financial Officer Boreo Oyj announced that Aku Rumpunen, Chief Financial Officer and member of the management team, has decided to leave Boreo to pursue other opportunities outside the company. Rumpunen will continue in his current role until October 2024. The process for recruiting a new Chief Financial Officer will be started immediately. Announcement • Apr 18
Boreo Oyj Appoints Jussi Vanhanen as New Member of the Board of Directors Boreo Oyj announced that at its AGM held on 17 April 2024, announced that Jussi Vanhanen was elected as a new member of the Board of Directors. The Board of Directors elected also members to its Committees. Camilla Grönholm (the Chair), Simon Hallqvist and Jussi Vanhanen were elected as the members of the Nomination and Remuneration Committee. Announcement • Mar 13
Michaela von Wendt Does Not Stands for Re-Election to the Board of Boreo Oyj Boreo Oyj announced that from the current members of the Board of Directors Michaela von Wendt has informed that she is not available for re-election. Announcement • Nov 02
Boreo Oyj Announces Second Dividend Installment, Payable on November 17, 2023 The Board of Directors of Boreo Plc has at its meeting on November 1, 2023 decided on the basis of the authorization by the Annual General Meeting on 19 April 2023 the record date and the payment date for the second installment of the dividend of EUR 0.22. The first dividend installment of EUR 0.22 per share was paid on May 4, 2023. The second installment of the dividend will be paid to shareholders who are registered in the shareholders' register maintained by Euroclear Finland Ltd. on the record date November 9, 2023. The dividend payment date is November 17, 2023. Announcement • Jul 04
Boreo Oyj (HLSE:BOREO) acquired 100% stake in Delfin Technologies Oy from Tapani Lahtinen, Jouni Nuutinen and a group of private shareholders. Boreo Oyj (HLSE:BOREO) agreed to acquire 100% stake in Delfin Technologies Oy from Tapani Lahtinen, Jouni Nuutinen and a group of private shareholders on June 8, 2023. The purchase price will be paid in cash. The payment is scheduled in two installments, approximately two thirds at closing and one third in one year from the closing of the transaction. Boreo will fund the payment of the purchase price with its existing financing facilities. Post competition of the transaction Delfin Technologies Oy will continue operate as a part of Boreo’s Electronics business area, led by Jouni Nuutinen. Delfin generated revenue €2.5 million, EBIT €1.1 million, total assets €2.8 million, equity €2.6 million and Net debt €0.9 million for the year ended 2022. The closing of the transaction is expected to take place on July 1, 2023. Boreo Oyj (HLSE:BOREO) acquired 100% stake in Delfin Technologies Oy from Tapani Lahtinen, Jouni Nuutinen and a group of private shareholders on July 3, 2023. Boreo will consolidate the Company in its accounts from July 1, 2023 onwards. Announcement • Jun 09
Boreo Oyj (HLSE:BOREO) agreed to acquire 100% stake in Delfin Technologies Oy from Tapani Lahtinen, Jouni Nuutinen and a group of private shareholders. Boreo Oyj (HLSE:BOREO) agreed to acquire 100% stake in Delfin Technologies Oy from Tapani Lahtinen, Jouni Nuutinen and a group of private shareholders on June 8, 2023. The purchase price will be paid in cash. The payment is scheduled in two installments, approximately two thirds at closing and one third in one year from the closing of the transaction. Boreo will fund the payment of the purchase price with its existing financing facilities. Post competition of the transaction Delfin Technologies Oy will continue operate as a part of Boreo’s Electronics business area, led by Jouni Nuutinen. Delfin generated revenue €2.5 million, EBIT €1.1 million, total assets €2.8 million, equity €2.6 million and Net debt €0.9 million for the year ended 2022. The closing of the transaction is expected to take place on July 1, 2023. 
