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Titanium: Everything set for accelerated earnings growth

TITANResearch2021-08-27 11:54
Sauli Vilén, Matias Arola
Discuss
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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.

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 Figures2021-08-26

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 %16.1 %17.7 %
P/E (adj.)14.35.34.8
EV/EBITDA9.83.22.7

Forum discussions

Sauli, that diligent proletariat from the Ruoholahti cooperative, has made a new company report on Titanium following H1 We reiterate Titanium...
8/26/2026, 9:43 PM
by Sijoittaja-alokas
3
I wasn’t expecting anything major here, but I still expected something small because the company’s comments on the asset management launch in...
8/26/2026, 10:06 AM
by Sauli Vilen
14
[quote="Sauli_Vilen, post:2449, topic:257, full:true"]\nTitanium has released its H1 report. The earnings fell somewhat short of forecasts, ...
8/26/2026, 9:35 AM
by gearloose
3
Titanium’s H1 report is out. Earnings fell somewhat short of forecasts, presumably because almost no revenue was booked from asset management...
8/26/2026, 7:28 AM
by Sauli Vilen
12
It’s a slightly misleading way to calculate annualized return by multiplying a single month’s return by 12… The funds you mentioned, however...
8/21/2026, 9:52 AM
by Roni
3
Hoiva’s new subscriptions in Q2 were €15 million, assuming half of the distributed profit shares are reinvested. Assuming none of the profit...
8/21/2026, 9:35 AM
by gearloose
7
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...
8/21/2026, 4:47 AM
by Sauli Vilen
9