Annual Report 2019
In this Annual Report, you’ll find the most relevant information of our business operations, operating environment and strategy progress. In addition, we describe our corporate culture and report on our work related to corporate responsibility more comprehensively than before.
We create better urban housing
Kojamo is Finland’s largest private residential real estate company and a frontrunner in the housing business. Our mission is to create better urban housing. 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. The Lumo brand provides easy, effortless and environmental-friendly housing and services in Finland’s biggest growth centres.
In the Annual Report 2019, we describe the development of urbanisation megatrend and its effect on Kojamo and how we have created better urban housing also in 2019.
We will continue to implement our effective strategy
During 2019, we have made progress in implementing our strategy as planned and been able to create profitable growth. Our central key figures developed positively. Despite of the competitive investment market, we have succeeded especially in multi-channel growth. Our apartment stock has grown as planned and we have even stronger presence in the seven growth centres that are included in our strategy.
Jani Nieminen
CEO
Key figures 2019
Total revenue
375.3 M€
2018: 358.8 M€, +4.6%
Net rental income
247.3 M€
2018: 234.0 M€, +5.7%
Funds from operations (FFO)
140.7 M€
2018: 116.4 M€, +20.9%
Fair value of investment properties
6.3 Bn €
2018: 5.1 Bn €, +22.9%
Gross investments
259.9 M€
2018: 365.2 M€, -28.8%
Profit before taxes
1,031.3 M€
2018: 277.3 M€, +271.9%
Successful year 2019
Kojamo had a very good year in 2019 and we made strong progress in all areas of our strategy. We continued on the path of profitable growth and managed to increase our financial occupancy rate as well as sign significant cooperation agreements concerning investments. Our strategy is supported by the trend of urbanisation, which creates demand for new apartments and provides a foundation for our profitable growth.
During the year we invested in digitalisation and customer experience for example by providing our customers the My Lumo mobile application that was adopted by more than half of our residents. In addition, we continued to develop our corporate culture and widened our reporting on corporate social responsibility.
Finland’s urbanisation is only just beginning
Our CEO Jani Nieminen and Timo Aro, Lead Specialist at the Consultancy for Regional Development MDI, discuss the drivers of urbanisation. They highlight the importance of resident-oriented and data-driven approach in urban development.
Customer feedback drives the development of the My Lumo service
The launch of the My Lumo service in 2019 was an important step for Kojamo. Our Service Managers Piia Hyvärinen and Elise Hasselgren discuss how the My Lumo service makes residents’ daily life more convenient today and in the future.
Bringing the circular economy into the daily life of residents
Kojamo offers many kinds of support to residents to help them sort waste and reduce food waste. Our Technical Manager Reima Kettunen and Head of Property Management Riina Linnas discuss how Kojamo makes recycling as easy as possible.
Responsibility is part of our DNA
Responsibility is becoming increasingly significant to our stakeholders, which affects our operations directly
through, for example, housing choices and the environmental regulations governing construction. During the past few years, we have made significant investments in responsible and innovative solutions.
We have revised our sustainability reporting with the aim of communicating the results of our sustainability
efforts to our stakeholders even more transparently than before. Our report on the year 2019 marks the
first time that we have applied the Global Reporting Initiative (GRI) framework and the European Public Real Estate Association’s Sustainability Best Practices Recommendations (EPRA sBPR, 3rd edition).
