(MENAFNEditorial) SATO Corporation, Stock exchange release, 14th December 2017 at 8:00 am
The Board of Directors of SATO Corporation has updated the group's long-term financial targets. The group will continue to strengthen the balance sheet. New target for solvency ratio is not to exceed 50% over time. The previous target for solvency ratio was to remain below 70%.
The other financial targets of the group remain unchanged. This means that the target for the equity ratio is to be over 35%, for the interest coverage ratio to be over 1.8x and for the unencumbered assets ratio to be 60% or more.
For more information please contact:
Markku Honkasalo, CFO, phone: +0201 34 4226 or +358 50 598 8728
www.sato.fi
SATO is one of Finland's leading lessors of rental apartments. SATO aims to offer full options for rental housing and an excellent customer experience. At the end of 2016, SATO owned a total of 25,300 rental apartments in Finland's largest growth centres and in St Petersburg.
We contribute to sustainable development and initiative through our operations, and engage in open interaction with our stakeholders in order to produce added value. We operate over the long term and profitably. We increase the value of housing assets through investments and divestments and through our repair activities.
SATO Group's net sales in 2016 were EUR 263.0 million* in accordance with the new reporting practices, its operating profit was EUR 267.2 million and its profit before taxes was EUR 219.4 million. The value of SATO's investment assets is EUR 3.5 billion.
*Net sales have been adjusted in accordance with the new reporting practices.
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