Toivo Group (TOIVO) Q4 2025 earnings summary

Executive summary

• Revenue grew by 55% year-over-year to €61.7 million, with operating profit up 77% to €8.0 million and net profit rising 484% to €4.3 million.

• Growth achieved despite a challenging real estate and construction market, driven by successful project launches, real estate transactions, and operational efficiency.

• Contracts signed for 278 new apartments and 4 social infrastructure properties, with 317 apartments completed during the year.

• Initiation of dividend payments and a share buyback program to enhance shareholder value, with a proposed dividend of €0.03 per share.

Financial highlights

• Revenue: €61.7 million (up from €39.8 million), operating profit: €8.0 million (up from €4.5 million), net profit: €4.3 million (up from €0.7 million).

• Earnings per share increased to €0.07 from €0.01 year-over-year.

• Economic occupancy rate at 93.1%, total equity at €73.8 million, and total assets at €168.6 million.

• Investments in properties totaled €24.2 million; cash and cash equivalents at year-end were €13.2 million.

• Value of project portfolio decreased to €291 million from €640 million.

Outlook and guidance

• Revenue for 2026 estimated at €65–85 million, operating profit at €6–11 million.

• Targets average annual revenue and operating profit growth of 20% in the medium term, focusing on RS-projects and social infrastructure.

• Dividend payout ratio targeted at 30–50% of annual profit, with a growing dividend policy.

• Market conditions expected to remain challenging in 2026, with only slight improvement anticipated.