Toivo Group (TOIVO) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was €11.5M, up 12% year-over-year; operating profit rose 67% to €2.0M; net profit increased 978% to €0.9M.

• Company is pursuing a main list transfer to accelerate growth, strengthen credibility, and broaden investor base.

• Preliminary agreement to acquire E-Heat Oy to strengthen position in data center and sustainable energy sectors; negotiations ongoing.

• Strategic focus remains on residential and community property development in key Finnish regions.

• Signed contracts for 81 new apartments and one parking facility; started construction on 124 apartments and one parking garage.

Financial highlights

• Revenue: €11.5M (Q1 2024: €10.3M), +12% year-over-year.

• Operating profit: €2.0M (Q1 2024: €1.2M), +67% year-over-year.

• Net income: €0.9M (Q1 2024: €0.08M), +978% year-over-year.

• Earnings per share: €0.02 (Q1 2024: €0.00), up 837%.

• Portfolio value: €394M, down 42% year-over-year; total assets: €155.2M, down 18% year-over-year; equity ratio: 46.0% (Q1 2024: 36.5%).

Outlook and guidance

• 2025 operating profit expected between €6–11M, excluding changes in investment property fair values.

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

• Dividend payout target set at 30–50% of annual net profit, aiming for growing dividends.