Toivo Group (TOIVO) investor relations material

Executive summary

• Revenue increased by 58% year-over-year to €36.7 million for H1 2026, with Q2 revenue up 110% to €24.5 million, driven by successful project launches and strong commercial concepts.

• Operating profit declined by 23% year-over-year to €2.7 million, reflecting margin pressure despite higher volumes; Q2 operating profit rose 19% to €1.76 million.

• Net profit for H1 2026 was €1.0 million, down 38% from the previous year; EPS was €0.01, down from €0.03.

• Major project successes included the Gemma development in Helsinki, with 32 out of 34 apartments reserved and strong demand for future phases.

• Cooperation with both domestic and international investors remained active, with new partnerships and project launches.

Financial highlights

• Revenue: €36.7 million (up 58% year-over-year); Q2 revenue €24.5 million (up 110%).

• Operating profit: €2.7 million (down 23% year-over-year), margin 7.3% (down from 14.9%).

• Net profit: €1.0 million (down 38% year-over-year); EPS: €0.01 (down from €0.03).

• Equity ratio: 42.6% (unchanged year-over-year); total assets increased to €173.1 million.

• Loan-to-value (LTV): 50.5% (up from 46.4%).

• Occupancy rate improved to 94.4% from 92.3% year-over-year.

• Portfolio value: €317 million (down 3% year-over-year); fair value of investment properties declined to €109.3 million.

Outlook and guidance

• Full-year 2026 revenue expected at €65–85 million; operating profit forecasted at €6–11 million.

• Medium-term targets: average annual revenue and operating profit growth of 20%, equity ratio above 40%, and dividend payout of 30–50% of net profit, subject to investment needs.