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Titanium: Everything set for accelerated earnings growth

TITANResearch27.08.2021 klo 12.54
Sauli Vilén, Matias Arola
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The company's H1 report was very good, and we expect earnings growth to accelerate clearly starting in H2 driven by the Baltia and Hoivarahasto funds. Our estimates have remained unchanged in the big picture and we still expect strong earnings growth in coming years. As earnings growth materializes the return expectation offered by the share is very good and it is enough to cover the higher risks of the company compared to its peers.

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Titanium operates in the financial services industry. The group offers a wide range of financial services, mainly in asset management, loan financing and pensions. The group also manages a number of investment funds and structured financial products. Titanium was originally founded in 2009 and is headquartered in Helsinki.

Read more on company page

Key Estimate Figures26.08.2021

202021e22e
Revenue20.223.026.7
growth-%9.6 %13.8 %16.3 %
EBIT (adj.)11.514.315.9
EBIT-% (adj.)56.9 %62.2 %59.5 %
EPS (adj.)0.911.121.25
Dividend0.810.961.05
Dividend %6.3 %15.7 %17.3 %
P/E (adj.)14.35.44.9
EV/EBITDA9.83.32.8

Forum discussions

It’s a slightly misleading way to calculate annualized return by multiplying a single month’s return by 12… The funds you mentioned, however...
11 hours ago
by Roni
0
Hoiva’s new subscriptions in Q2 were €15 million, assuming half of the distributed profit shares are reinvested. Assuming none of the profit...
12 hours ago
by gearloose
6
It has been quiet as a tomb for Titanium since the holidays. Here are the preliminary comments on the H1 results: Titanium H1'26 -ennakko: Katseet...
16 hours ago
by Sauli Vilen
8
I finally received the 2025 financial statements for Hoiva, and I have updated the previous table accordingly. Hoiva performed better in 2025...
8/10/2026, 3:01 PM
by Sauli Vilen
13
I noticed that Titanium is sponsoring the 100-meter sprints at the Kaleva Games (Finnish Athletics Championships). In my opinion, this is a ...
7/25/2026, 5:10 PM
by Progemies
7
How large is the Hoivarahasto (Care Fund) redemption queue actually? If it is, for example, only a few tens of millions of euros, the situation...
7/7/2026, 5:10 AM
by Jussi_40683
2
Titanium released updates regarding redemptions from its real estate funds. Titanium Asunto (Residential) paid out the outstanding redemptions...
7/6/2026, 12:31 PM
by Kasper Mellas
17