Key figures

Key figures

(EUR thousand)

Unaudited, unless otherwise specified

2021 2020 2019
Net sales 13,574 4,2501) 3,074
Rental income 2,676 3,2131) 1,707
Net rental income 1,979 2,3711) 1,325
Operating profit 15,818 7,1891) 4,182
Cash flow before change in working capital (FFO) 1,714 637 743
Fair value of investment properties 97,649 57,0221) 55,710
Investments in investment properties 34,002 18,3611) 13,558
Sales of investment properties 12,085 4,3311) 0
Interest-bearing net liabilities 40,215 24,033 34,883
Net asset value (NAV) 41,169 13,498 7,705
LTV ratio, % 41.2 42.1 62.6
Equity ratio, % 45.3 42.8 29.6
Net asset value per share (NAV/share), EUR2) 0.78 0.30 0.17
Growth in NAV per share, % 158.5 75.2 591.0
Earnings per share (EPS), EUR2) 0.24 0.11 0.07
Occupancy rate, % 98.9 99.0 97.7
Total lettable area of dwellings, square meters 6,776 13,006 10,686
Other total lettable area, square meters 78,784 19,582 18,534

1)= Audited

2)= Reverse split of shares as decided by the Annual General Meeting of the company on 22 April 2021 is taken into account in the number of shares.

Formulas for key figures add

Key figure Formula
Net rental income = Rental income - Management expenses
Cash flow before change in working capital (FFO) = Cash flows before change in net working capital and financial items - Interests paid- Income taxes paid
Fair value of investment properties = Investment properties + Investment properties held for sale
Gross investment in investment properties = Gross investment at acquisition cost basis
Disposal of investment properties = Sold investment properties at fair value
Interest-bearing net liabilities = Loans from financial institutions + Lease liabilities + Liabilities to related parties + Liabilities related to investment properties held for sale + Other financial liabilities and other non-current liabilities - Cash and cash equivalents
Net asset value (NAV) = Owner’s equity - Capital loans + Deferred tax liabilities - Deferred tax assets
LTV ratio = Interest-bearing net debt / Fair value of investment properties
Equity ratio, % = Total equity / (Total assets - Advances received)
Net asset value = Net asset value (NAV) / Number of shares at the end of the period
Growth in NAV per share = (NAV per share - NAV per share in the previous year) / NAV per share in the previous year
Earnings per share (EPS) = Net profit (loss) attributable to the parent company owners for the financial year as a weighted average of the number of outstanding ordinary shares (during the financial year), excluding any own shares held by Toivo
Occupancy rate = Rental income from real estate / Possible rental income at full occupancy rate x 100, (Dwellings that are at least 2 months old included in dwellings)

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