Company release, inside information, 25 October 2024 at 5 p.m.
Toivo Group Plc (hereinafter referred to as "Toivo" or "the Company") has lowered its guidance for 2024.
Delays in certain property sales have postponed the start and revenue recognition of new construction projects. Not all construction projects have been able to start according to the initially estimated schedule and scope.
Previous guidance for the year 2024
- The Company's expects that the operating profit for the financial year 1 January - 31 December 2024, excluding the change in fair values, is approximately EUR 6-12 million
- The Company expects the operating profit for the financial year of 1 January-31 December 2024 to be EUR 8-14 million.
New guidance for the year 2024
- The Company's expects that the operating profit for the financial year 1 January - 31 December 2024, excluding the change in fair values, is approximately EUR 4-7 million.
- The Company expects the operating profit for the financial year of 1 January-31 December 2024 to be EUR 4-10 million.
Toivo Group Plc
Board of Directors
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
markus.myllymaki@toivo.fi
Certified Adviser: Nordic certified adviser
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company's business model is unique as Toivo's business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.
Toivo's strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo's customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo's team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo's revenue in 2023 was EUR 43.7 million and its operating profit was EUR -0.3 million.
