Financial statement release, 28.
EUR thousand | 1 January- | 1 January- | Change, % |
Revenue | 43,692 | 20,323 | 115% |
Operating profit | -305 | 15,640 | -102% |
Operating profit without changes in values of investment properties | 10,525 | 21,959 | -52% |
Profit or loss for the financial year | -4,364 | 12,143 | -136% |
Earnings per share (EUR) | -0.08 | 0.22 | -136% |
Fair value of investment properties | 164,122 | 155,716 | 5% |
Economic occupancy rate | 97.0% | 98.4% | -1% |
Total equity | 68,830 | 70,007 | -2% |
Total assets | 192,132 | 187,694 | 2% |
EUR thousand | 1 October- | 1 October- | Change, % |
Revenue | 10,073 | 7,040 | 43% |
Operating profit | -8,058 | -2,375 | -239% |
Operating profit without changes in values of investment properties | 2,772 | 3,944 | -30% |
Profit or loss for the financial year | -8,476 | - 1,257 | -574% |
Earnings per share (EUR) | -6.57 | -0.02 | -28,629% |
Fair value of investment properties | 164,122 | 155,716 | 5% |
Economic occupancy rate | 95.0% | 97.8% | -3% |
Total equity | 68,830 | 70,007 | -2% |
Total assets | 192,132 | 187,694 | 2% |
FINANCIAL PERIOD 1 JANUARY-31 DECEMBER 2023 KEY EVENTS- Revenue
EUR 43.7 (20.3) million. -
Contracts for building a total of 126 (302) apartments were signed during the period under review.
-
118 (464) apartment start-ups during the period under review.
-
377 (309) apartments were completed during the period under review.
PROSPECTS FOR 2024
The company expects the operating profit without changes in values of investment properties for the financial year of 1 January-
The company expects the operating profit for the financial year of 1 January-
CEO MARKUS MYLLYMÄKI
The real prices of old apartments decreased by approximately 26% in the
At
In 2024, we expect interest rates to fall, apartment prices to rise and rents to be increased. Not all of the companies in the market will be able to benefit from the improved operating conditions. We are prepared to see a number of bankruptcies in the industry in 2024. Nevertheless, we believe the operating environment will improve in 2024, and the challenges in the industry will present opportunities for
We will update our strategy in connection with publishing our financial statements for 2023. Our business model of development, construction and ownership will be complemented by an important new element: selling. The aim of property sales is to cycle capital from properties currently on the balance sheet to properties that are under development and construction and have the highest return on equity in our value chain.
DEVELOPMENT: The company is prepared for the future and the opening up of the market with a project development portfolio of some 3,200 apartments, of which approximately 91% are located in the
CONSTRUCTION: The company started three new construction sites in October-December. Two of the properties are special situation projects. One of the properties is a project management service contract. Starting three properties in the latter part of 2023 represents a good achievement in the current market conditions.
OWNERSHIP: With regard to lease activities and management, Asuntomestarit® have succeeded well. The company carried out rent increases of 4-5% in autumn 2023.
SELLING: In
I would like to thank all customers, partners and
ANALYST AND MEDIA EVENT
The financial statement will be presented by
Board of Directors
Further information
Markus Myllymäki
CEO
Tel. +358 (0)40 847 6206
markus.myllymaki@toivo.fi
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