Toivo Group Plc ends its business activities in Sweden

Press release 4 March 2022 at 3 p.m.

On 9 November 2021, Toivo Group Plc (“Toivo” or the “ Company”) announced the end of its piloting phase in Sweden. The Company has finished its business activities in Sweden by selling its plot assets. Moreover, all the employment contracts of the Swedish companies have expired or been terminated. Toivo no longer engages in business activities in Sweden.

The Company aims to complete its rundown of the Swedish companies in 2022. The Company will record an estimated operating profit which is small but positive as a result of the termination of its business activities in Sweden.

CEO Markus Myllymäki:

“I want to thank the employees of the Swedish companies and all the stakeholders for the piloting phase in Sweden. The Company piloted its business model in a new country and found more than a hundred potential projects. It is exceptional for a company to yield a positive result on a piloting phase in a new country.”

Toivo Group Plc

Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
markus.myllymaki@toivo.fi

About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of developing apartment lots, constructing housing and 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 residential real estate with its own team, from raw land development to renting apartments. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.

Toivo’s strategy is to develop apartments in accordance with the Toivo concept. The apartments aim for a strong development margin and a stable and attractive return, and 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.

Toivo’s revenue in 2021 was EUR 13.6 million and its operating profit was EUR 15.8 million.