Outlook and strategic targets
Kojamo’s outlook for 2024
As stated in Kojamo plc’s Half-Year Financial Report 1 January – 30 June 2024
Kojamo reiterates its outlook issued on July 15, 2024, in which Kojamo estimates that in 2024, the Group’s total revenue will increase by 2–4 per cent (previously 4–7 per cent) year-on-year. In addition, Kojamo estimates that the Group’s FFO for 2024 will amount to between EUR 142–152 million, excluding non-recurring costs (previously EUR 152–164 million).
The outlook is based on the management’s assessment of total revenue, property maintenance expenses and repairs, administrative expenses, financial expenses and taxes to be paid as well as the management’s view on future developments in the operating environment.
The outlook takes into account the estimated occupancy rate and rises in rents. The outlook does not take into account the impact of potential acquisitions or disposals on total revenue and FFO.
The management can influence total revenue and FFO through the company’s business operations. In contrast, the management has no influence over market trends, the regu-latory environment or the competitive landscape.
Strategic targets
Strategic targets | 1-6/ 2024 | 2023 | 2022 | 2021 | 2020 | Target |
Annual growth of total revenue, % | 3.9 | 7.0 | 5.5 | 2.0 | 2.3 | 4–5 |
Annual investments, M€ | 19.3 | 190.7 | 501.6 | 356.9 | 371.2 | 200–400 |
FFO/total revenue, %* | 30.2 | 37.8 | 38.9 | 39.1 | 39.5 | > 36 |
Loan to Value (LTV), % | 45.0 | 44.6 | 43.7 | 37.7 | 41.4 | < 50 |
Equity ratio, % | 43.0 | 44.5 | 45.3 | 49.0 | 45.6 | > 40 |
Net Promoter Score (NPS)** | 53 | 50 | 45 | 20 | 36 | 40 |
** The calculation method has changed 2022 for example including digital services in calculation. Actual for 2021 and 2020 have not been adjusted to reflect the current calculation method.
Strategic targets until 2020
FINANCIAL TARGETS | Actual 2019 | Actual 2018 | Actual 2017 | Actual 2016 | Actual 2015 |
Equity ratio over 40% | 46.9% | 43.0% | 41.3% | 40.7% | 41.1% |
Loan to Value (LTV) less than 50% | 40.5% | 45.9% | 46.0% | 47.1% | 39.8% |
Funds from Operations (FFO) over 32% of total revenue | 37.5% | 32.4% | 32.0% | 31.9% | 34.9% |
OPERATING TARGETS | Actual 2019 | Actual 2018 | Actual 2017 | Actual 2016 | Actual 2015 |
Fair value of investment property portfolio EUR 6 billion | 5.1 | 5.1 | 4.7 | 4.3 | 4.0 |
Number of apartments appr. 38,000 | 35,272 | 34,713 | 34,383 | 34,974 | 41,153 |
Net Promoter Score: 40 | 33 | 35 |
Page updated 15 August 2024