Toivo Group (TOIVO) investor relations material

Executive summary

• Revenue increased by 6% year-over-year to €12.2 million in Q1 2026, with procurement costs well managed.

• Operating profit declined by 54% to €0.9 million, and net profit fell 71% to €0.3 million, reflecting lower fair value changes and fewer project completions.

• Equity increased by 5% to €73.9 million, and the equity ratio remained strong at 44.9%.

• The business environment remains challenging for residential developers, builders, and owners, but slight improvement is expected during 2026.

• The first dividend in company history was paid, demonstrating confidence in future growth.

Financial highlights

• Operating margin dropped to 7.5% from 17.2% year-over-year.

• Net profit for Q1 2026 was €255 thousand, down 71% from €885 thousand in Q1 2025.

• EPS for the quarter was €0.00, compared to €0.02 in the prior year.

• Loan-to-value (LTV) increased to 47.4% from 41.4% year-over-year.

• Rental occupancy rate was 91.1%.

Outlook and guidance

• Full-year 2026 revenue is projected at €65–85 million, with operating profit expected between €6–11 million.

• Medium-term targets include average annual revenue and operating profit growth of 20%, equity ratio above 40%, and a dividend payout of 30–50% of annual profit.

• Project starts are expected to be heavily weighted toward the second half of 2026.