Here are Frans’s preview comments as Toivo releases its Q1 report on Wednesday, May 6 
We forecast Toivo’s Q1 revenue to grow clearly as the focus of projects shifts to off-balance sheet projects, but taking balance sheet investments into account, we estimate business volume will decrease slightly from the comparison period. We expect adjusted operating profit to fall to EUR 1.2 million in a seasonally weak quarter (Q1’25: EUR 2.0 million), but we estimate the quality of the result has improved from the comparison period thanks to the smaller role of changes in fair values. The company’s project backlog and the continued positive news flow provide support for our 2026–2027 forecasts, although the new housing market in the Helsinki metropolitan area remains difficult as a whole. In the report, we are particularly interested in the company’s comments on the war in Iran and the interest rate hikes seen recently