Hestio management has decided to divest its 85% share in its subsidiary Printero, which was established in October 2024. This decision follows a comprehensive review of Printero's historical performance, which shows a significant insufficiency of sales volume and development progress compared to the planned. Updated future financial projections indicate that losses will substantially exceed initial forecasts. With the aim of preventing any further negative impact on the Group's overall financial results, it has been decided to divest the position.

A conceptual agreement has been reached with Printero's minority shareholder regarding the sale of the shares owned by Hestio. To ensure Printero can continue to meet its obligations and maintain operational continuity until the completion of the sale, Printero's share capital will be increased by 35 800 EUR.

The sales transaction is planned to be concluded within the next month. While the deal will result in a loss of 33 180 EUR on Hestio’s individual financial statements, it will have a positive impact on the Group’s future consolidated results, as after the sale, Printero will no longer be included in the consolidated financial reports.

About Hestio

Hestio AS is one of the leading workplace solution providers in Latvia, helping companies create a comfortable, modern and sustainable working environment since 2007. The Company offers full-service solutions — from office supplies and coffee machine leasing to cleaning services and corporate gifts — ensuring that our clients can focus on their core business operations while Hestio takes care of the details that enhance the workplace experience. Hestio is based on values ​​– team, experience, care, inspiration, and its mission is to improve employee well-being and ensure excellent work rhythm.

On December 19, 2023, Hestio bonds were listed on the Nasdaq Riga Baltic First North market, starting a new phase of development with a focus on transparency and long-term value growth.