Kotka, Finland – Eagle Filters has recently received a substantial increase in the fair value of an industrial property it owns. The subsidiary of the listed company purchased the property for only 0.3 million euros last year, but now its value has been determined to be almost 15 times the purchase price. The property is located in the former Hovinsaari factory area in Kotka and was auctioned off with Eagle Filters winning the bid at 275,400 euros.
The CEO of Eagle Filters, Jarkko Joki-Tokolan, mentioned that the property is currently being used for industrial purposes by his company. Despite its low purchase price, Joki-Tokola sees this as a significant opportunity due to its size and potential.
Eagle Filters Group, formerly known as Loudspring, is an investment company with a subsidiary called Eagle Filters that specializes in air filtration technology. This increase in property valuation of 4.1 million euros is substantial compared to the company’s market value on the stock exchange, which is less than 10 million euros. However, it’s worth noting that Eagle Filters has been loss-making for some time now and has only managed to grow its turnover significantly last year.
An estimate was made by Newsec Advisory Finland regarding this property valuation and there were discussions on the Inderes investment forum about accounting practices and how this increase would be recorded on balance sheet equity. Joki-Tokala stated that no final decisions have been made yet and that his company will proceed carefully when informing shareholders and stakeholders about this development.
Investors are showing interest in Eagle Filters after this news broke out; their performance and future outlook will be closely monitored as they navigate through these developments while still focusing on growth and profitability goals.
