Change in Toivo Group’s management team
Toivo Group Plc, Company release, 17 May 2023 at 4:01 p.m.
Tuomas Hemmilä, member of the management team and Director of Real Estate Development at Toivo Group Plc (“Toivo” or “Company”), has decided to continue his career outside the Company and leaves his post in June 2023. Hemmilä has been the Director of Real Estate Development since 2019.
“I would like to thank Tuomas for the years we spent together. Tuomas has helped us develop a project portfolio that is 3,300 apartments and 700 million euros in size, giving Toivo a sound basis for future real estate business,” says Markus Myllymäki, Toivo’s CEO.
“It has been an honour to be part of Toivo’s journey from the early stages. During these years, Toivo has developed into a steadfast real estate operator that is respected by customers, stakeholders and employees alike. I can leave my responsibilities to my colleagues securely and with confidence,” says Tuomas Hemmilä.
In the same context, Toivo is redistributing areas of responsibility so that Petter Ruuskanen takes over real estate development, Tommi Peltola construction and Markus Pulkkinen building, all existing employees of the Company. Urho Myllymäki, Business Director and member of the management team at Toivo, is responsible for the Company’s develop-and-build business segment, which covers the operations from real estate development, construction and building.
The composition of the management team starting 1 July 2023:
- Markus Myllymäki, CEO
- Samuli Niemelä, CFO
- Urho Myllymäki, Business Director
- Lauri Rekola, Finance Director and Chief Risk Officer
- Heikki Myllymäki, Director of Business Development
Toivo Group Plc
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
Certified Adviser: Danske Bank A/S, Finland branch
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 2022 was EUR 20.3 million and its operating profit was EUR 15.6 million.
