SATO Corporation's financial targets changed
13 December 2018
Stock Exchange Release 13th December 2018 at 9:00 am
The Board of Directors of SATO Corporation has updated the group's long-term financial targets.
SATO group will continue to strengthen the balance sheet. New target for equity ratio is 40 per cent. The previous target for equity ratio was 35 per cent.
The other financial targets of the group remain unchanged. This means that the target for the interest coverage ratio to be at least 1.8x and for the unencumbered assets ratio to be 60 per cent or more. Long-term target for solvency ratio is not to exceed 50 per cent.
For more information please contact:
Markku Honkasalo, CFO, phone: +0201 34 4226 or +358 50 598 8728
SATO is one of Finland's leading rental housing providers. SATO aims to offer a comprehensive choice of rental housing and an excellent customer experience. At year-end 2017 SATO owned around 25,800 apartments in Finland's largest growth centres and in St. Petersburg.
We promote sustainable development and initiative through our operations and work in open interaction with our stakeholders to generate added value. We operate profitably and with a long-term view. We increase the value of our housing stock through investments, divestments and repairs.
The SATO Group's net sales in 2017 were EUR 280 million, operating profit EUR 231 million and profit before taxes EUR 185 million. The value of SATO's investment assets was roughly EUR 3.6 billion.