Outlook and strategic targets

Kojamo’s outlook for 2022

As stated in the Kojamo plc’s Interim Report 1 January–31 March 2022

Kojamo estimates that in 2022, the Group’s total revenue will increase by 3–6 per cent year-on-year. In addition, Kojamo estimates that the Group’s FFO for 2022 will amount to between EUR 153–165 million, excluding non-recurring costs.

The outlook is based on the management’s assessment of total revenue, property maintenance costs and repairs, administrative expenses, financial expenses, taxes to be paid and new development to be completed, 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 as well as the number of apartments to be completed. 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 COVID-19 restrictions, market trends, the regulatory environment or the competitive landscape.

Strategic targets 2020–2023

Strategic targets 2020–2023 1-3/202220212020 Target
Annual growth of total revenue, % 2.42.02.3 4–5
Annual investments, M€ 48.9356.9 371.2 200–400
FFO/total revenue, % 29.139.1 39.5 > 36
Loan to Value (LTV), % 37.437.7 41.4 < 50
Equity ratio, % 46.949.0 45.6 > 40
Net Promoter Score (NPS)* 382036 40
*The calculation method has changed during the review period for example including digital services in calculation. Target and actual for
years 2021 and 2020 have not been adjusted to reflect the current calculation method. Actual 1-3/2022 calculated with old method does not
significantly deviate from Q4/2021 actual.

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
3335

Page updated 12 May 2022