Boreo's Annual Report for 2023 published
BOREO PLC Stock Exchange release, Annual Financial Report 7 March 2024 at 18:00 EET
Boreo's Annual Report for 2023 published
Boreo has today, on March 7, 2024, published its Annual Report for 2023. Report is available in Finnish and in English. Annual report comprises Financial Statements, Report of the Board of Directors, Sustainability report, Corporate Governance Statement and Remuneration Report for 2023. Corporate Governance Statement and Remuneration report are prepared in accordance with the recommendations of the Finnish Corporate Governance Code 2020.
The Financial Statements are published in accordance with the European Single Electronic Format (ESEF) reporting requirements in XHTML-format in Finnish. According to ESEF requirements, the primary statements have been labelled with XBRL tags and notes have been labelled with XBRL block tags. A reasonable assurance report on ESEF Financial Statements has been provided by an independent auditor.
The Annual Report, the Corporate Governance Statement and the Remuneration Report are attached to this release as PDF files and available at www.boreo.com.
Vantaa, 7 March 2024
Boreo Plc
Kari Nerg
CEO
Distribution:
NASDAQ Helsinki Ltd
Principal media
www.boreo.com
Further information:
Kari Nerg
CEO
tel +358 44 341 8514
Aku Rumpunen
CFO
tel +358 40 556 3546
Boreo in brief:
Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing small and medium-sized companies in the long-term. Boreo's business operations are organized into two business areas: Electronics and Technical Trade.
Boreo's primary objective is sustainable long-term profit generation. This is achieved with a business model that is based on the acquisition and ownership of great entrepreneurial companies with ability to generate sustainable long-term earnings growth and strong cash flows. The profits generated by the portfolio of companies are re-invested back to operations or to acquisitions with attractive expected returns on capital. The decentralized operating structure promoting culture of ownership and release of entrepreneurial energy is a core pillar of the firm’s business concept and sustainable earnings growth is ensured through the support and coaching of companies and the personnel.
The Group's net sales in 2023 were EUR 161 million and it employs over 300 people in seven countries. The company’s headquarter is in Vantaa.