Kojamo plc Insider information, 31 July 2025 at 12:05 p.m. EEST
Insider information: Kojamo lowers its outlook for 2025 due to the sales of
residential properties
Kojamo lowers its outlook for 2025 for total revenue and specifies for Funds
From Operations (FFO).
Background for the outlook change
Kojamo has completed the sale of 44 rental housing properties which covers 1,944
apartments from eight different municipalities across Finland. The completion of
the sales was announced earlier today.
The transaction is estimated to decrease Kojamo's total revenue in 2025 by
approximately EUR 9.2 million and FFO by approximately EUR 2.9 million. The sale
price is approximately 10 per cent below the balance sheet value for 2024. The
company estimates that the transaction does not have an impact on the fair
values of the remaining investment properties. The impact on the occupancy rate
is estimated to be marginal. The transaction will result in approximately EUR 25
million in taxes, payable in January 2026.
The sale of these non-strategic properties is aligned with Kojamo's goals for
the current year.
New outlook for 2025
Kojamo estimates that in 2025, the Group's total revenue will increase by 0-2
per cent year-on-year. In addition, Kojamo estimates that the Group's FFO for
2025 will amount to between EUR 135-141 million, excluding non-recurring costs.
The outlook takes into account the estimated occupancy rate and development of
rents. The total revenue and FFO outlook also takes into account the impacts of
disposal of the 44 residential properties, but it does not take into account the
impact of potential future acquisitions or disposals. The outlook does not take
into account the taxes resulting from the transaction.
Previous outlook for 2025 (according to the Kojamo plc's Interim report 1
January - 31 March 2025)
Kojamo estimates that in 2025, the Group's total revenue will increase by 1-4
per cent year-on-year. In addition, Kojamo estimates that the Group's FFO for
2025 will amount to between EUR 135-145 million, excluding non-recurring costs.
The outlook takes into account the estimated occupancy rate and development of
rents. The outlook does not take into account the impact of potential
acquisitions or disposals on total revenue and FFO.
For more information, please contact:
Reima Rytsölä, CEO, Kojamo plc, tel. +358 20 508 5077, reima.rytsola@kojamo.fi
Erik Hjelt, CFO, Kojamo plc, tel. +358 20 508 3225, erik.hjelt@kojamo.fi
Distribution:
Nasdaq Helsinki, key media
Kojamo is Finland's largest private residential real estate company and one of
the biggest investors in Finland. Our mission is to create better urban housing.
Lumo offers environmentally friendly housing and services for the city dweller
who appreciates quality and effortlessness. We actively develop the value of our
investment properties by developing new properties and our existing property
portfolio. We want to be the property market frontrunner and the number one
choice for our customers. Kojamo's shares are listed on the official list of
Nasdaq Helsinki. For more information, please visit https://kojamo.fi/en/