SATO Corporation has completed its Russian business divestment
17 April 2023
Press release 17 April 2023 at 2:00 pm
SATO Corporation has completed its divestment of Russian housing business 14 April 2023. SATO has operated in St. Petersburg since year 2007 and has had 522 rental apartments.
The transaction has no significant effect on SATO Corporation’s result.
CEO Antti Aarnio, tel. +358 20 134 4200
CFO Markku Honkasalo, tel. +358 20 134 4226
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.
In 2022, SATO Group’s net sales totalled EUR 291.2 million, operating profit EUR 198.9 million and profit before taxes EUR 151.9 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi