Outlook and strategic targets
Kojamo’s outlook for 2024
As stated in the Kojamo plc’s Financial Statements Release 1 January–31 December 2023
Kojamo estimates that in 2024, the Group’s total revenue will increase by 4–8 per cent year-on-year. In addition, Kojamo estimates that the Group’s FFO for 2024 will amount to between EUR 154–166 million, excluding non-recurring items.
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 market trends, the regulatory environment or the competitive landscape.
Strategic targets 2020–2023
| Strategic targets 2020–2023 | 2023 | 2022 | 2021 | 2020 | Target |
| Annual growth of total revenue, % | 7.0 | 5.5 | 2.0 | 2.3 | 4–5 |
| Annual investments, M€ | 190.7 | 501.6 | 356.9 | 371.2 | 200–400 |
| FFO/total revenue, % | 37.8 | 38.9 | 39.1 | 39.5 | > 36 |
| Loan to Value (LTV), % | 44.6 | 43.7 | 37.7 | 41.4 | < 50 |
| Equity ratio, % | 44.5 | 45.3 | 49.0 | 45.6 | > 40 |
| Net Promoter Score (NPS)* | 50 | 45 | 20 | 36 | 40 |
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 February 2024