Effects of the COVID-19 pandemic on Kojamo

Kojamo takes the coronavirus seriously and is committed to looking after the health and well-being of the Group’s employees, customers and partners. Kojamo monitors the recommendations issued by the authorities and complies with them. The pandemic did not have a significant impact on the Group’s profit, balance sheet or cash flow during the review period. Kojamo’s financial position and liquidity are good.

The Group’s day-to-day operations have continued normally in spite of the exceptional circumstances. The pandemic has had an impact on the housing market and the operating environment. The supply of rental apartments has increased temporarily in the market. Due to the restrictions on travel, apartments intended for short-term rentals have been switched to long-term leases. Work-related immigration slowed down and students, for example, temporarily moved in with their parents, while foreign students returned to their home countries. These factors have had an substantial effect on the Group’s financial occupancy rate.

Vaccinations against coronavirus have progressed well in Finland. COVID-19 pandemic has been prolonged, but the improved vaccination coverage has made it possible to lift restrictions, which has increased activity in the rental market during the summer. Kojamo expects the impacts of the pandemic to be shortlived.

Read also more, how the effects of COVID-19 pandemic have been taken into consideration in Kojamo’s outlook and near-term risks and uncertainties.

Page updated 19 August 2021