Change in Toivo Group's management team

Toivo Group Plc, Company release, 21 March 2024 at 4:00 p.m.

The composition of the management team of Toivo Group Plc ("Toivo" or "the Company") will change when Heikki Myllymäki, who has served as the Company's Construction Director since the beginning, is transferred to the public real estate business as its new Director. He will be responsible for the development and sale of public sector premises, industrialisation and infrastructure projects.

"Due to the changed market situation, our company has invested in the development of new business models and customer relationships for a long time, and infrastructure projects, for example, are one of the most interesting opportunities in this area. We want to support public real estate development by offering new and sustainable solutions. Finnish operations and services are of paramount importance to us, and with Heikki's energy and expertise, we strive to support them even more strongly," says Toivo's CEO Markus Myllymäki.

"We are committed to sustainability and social responsibility. The new business area is not just a business expansion but a concrete step towards the sustainable development of public sector services," says Heikki Myllymäki. "This is more than just a business opportunity; it is an opportunity to create a better tomorrow together."

In the future, the management team of Toivo will consist of CEO Markus Myllymäki, CFO Samuli Niemelä, Business Director Urho Myllymäki and Director of Finance and Risk Management Lauri Rekola.

Toivo Group Plc

Further information

Markus Myllymäki

CEO

Toivo Group Plc

Tel. [phone]

[e-mail]

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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.

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