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 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 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 a 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 significantly improved vaccination coverage has made it possible to lift restrictions. The lifting of restrictions has increased activity in the rental market during the summer and early autumn. Kojamo expects the impacts of the pandemic to be shortlived, and that migration will gradually recover to the level seen before the COVID-19 pandemic.

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 4 November 2021