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 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

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.

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).

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