Pressmeddelanden, rapporter och bolagsmeddelande för Kojamo Oyj

Kojamo plc announced that it will publish its Financial Statements Release, Financial Statements, and Report of the Board of Directors for 2024 on 13 February 2025. The Annual General Meeting is scheduled for 13 March 2025 in Helsinki. The company also provided the publication dates for its Interim Reports and the Half-Year Financial Report for 2025. Kojamo is Finland’s largest private residential real estate company and a significant investor, focusing on urban housing through its Lumo brand. Kojamo’s shares are listed on Nasdaq Helsinki. For further information, contact Niina Saarto, Director of Treasury & Investor Relations, at +358 20 508 3283 or niina.saarto@kojamo.fi.

Kojamo plc released its Half-Year Financial Report for January–June 2024, noting increases in total revenue and net rental income despite challenges from abundant market supply. Kojamo owned 40,973 rental apartments at the end of the period, completing 1,152 new units since June of the previous year. The company has revised its 2024 revenue growth outlook to 2–4% and estimates FFO to be between EUR 142–152 million, excluding non-recurring costs. The CEO highlighted that financial and maintenance expenses increased, impacting FFO. The market saw a high supply of apartments, intense competition, and a low number of new residential projects. Kojamo has focused on maintaining a strong financial position through cost-saving measures, reducing investments, and not paying dividends. Positive signs include slowing inflation and declining interest rates. A news conference will be held on 15 August 2024, which can be followed via webcast.

Kojamo plc has lowered its financial outlook for 2024, revising its expected total revenue growth to 2–4% year-on-year and its Funds From Operations (FFO) to EUR 142-152 million, excluding non-recurring costs. This is a reduction from its previous estimates of 4–7% revenue growth and FFO of EUR 152–164 million. The adjustment is attributed to market oversupply, competitive pressures, and unsold new apartments moving into the rental market. Additionally, cold weather and a VAT increase have impacted FFO. Preliminary data for the first half of 2024 shows total revenue of EUR 225.6 million, a 3.9% increase from the previous year, and FFO of EUR 68.2 million, down from EUR 80.5 million in H1 2023. Kojamo will release its Half-Year Financial Report on 15 August 2024.

Kojamo plc has released its interim report for January-March 2024. The report shows an increase in total revenue and net rental income, with no significant changes in the value of investment properties. Kojamo owned 40,860 rental apartments at the end of the review period, having acquired no new apartments, completed 1,372, sold 73 and demolished or altered 11. The company predicts a 4-7% increase in total revenue for 2024, and estimates the Group’s FFO will amount to between EUR 152-164 million. The CEO noted that profit before taxes also increased in Q1, with FFO decreasing due to increased financial expenses and maintenance costs from a cold winter. The CEO also stated that the company's financial position is strong and liquidity is good. The company's saving programme is progressing as planned and the loans maturing in 2024 and 2025 are covered. Kojamo also successfully implemented a new ERP system during the first quarter of the year.