Suomen Hoivatilat Oyj announced earnings results for the nine months ended September 30, 2018. For the period, the company reported total revenue of EUR 12,528,000 against EUR 8,571,000 a year ago. Operating profit was EUR 5,186,000 or EUR 0.82 per diluted share against EUR 3,560,000 or EUR 0.79 per diluted share a year ago. NAV per share was EUR 6.41 against EUR 5.33 a year ago. The increase in revenue is a result of a significant increase in the number of leases on completed properties.

The company provided earnings guidance for the full year of 2018 and for the two years period of 2019 to 2020. The company expects its total revenue to be around EUR 17 million in 2018. Its operating result is estimated to be around 40% of revenue. The fair value of its investment properties at the end of 2018 is estimated to be around EUR 330 million to EUR 340 million.

The company seeks to increase its revenue by around 40% in 2018 and by at least 30% per year in 2019-2020. In line with this target, the company expects its operating result to be 40% of revenue on average, with its equity ratio being at least 35% on average.