Kojamo’s investor newsletter is primarily published after an Interim Report and the subsequent roadshows, before the beginning of the silent period. The purpose of the newsletter is to discuss topical issues and themes related to Kojamo as an investment that are relevant for investors. It does not contain new, unpublished information. The newsletter is available on Kojamo’s investor pages and can be subscribed to the e-mail.
2024
The Financial Statements Release was published on 13 February 2025. The Financial Statements and the Board of Directors’ Report, Corporate Governance Statement and Remuneration Report for 2024 were published on the same day.
The publications, webcast recording from the results news conference as well as transcript of the event are available at Kojamo’s Investors website.
The Annual Report and sustainability report were published on 5 March 2025.
The Annual General Meeting was held on 13 March 2025. We announced the resolutions of Annual General Meeting and the organizing meeting of the Board of Directors.
Roadshows and investor meetings
We have met investors in February-April via investor events and conference calls. In March, we participated in Bank of America’s EMEA Real Estate conference in London. Additionally, we met investors in Van Lanschot Kempen’s European Real Estate Seminar in New York at the beginning of April.
The balancing of the rental market continues. The main theme of discussions has been the expectations related to the easing of the oversupply situation and the development of our occupancy rate. We have said that we are now focusing on improving the occupancy rate, and the time for bigger rent increases will come later. Since the autumn, we have taken several measures to accelerate renting, and we have been successful in making a positive turn in our occupancy rate.
We have also asked a lot about property sales. The transaction market has been quiet, and there has been no major change in this at the beginning of the year. However, there is interest towards the Finnish housing market, and we are currently having discussions on several disposal alternatives. Our financial situation is strong, so we do not need to sell anything. Our goal is, however, to carry out moderate property sales and use their proceeds primarily for loan repayments as well as possibly also for share buybacks and payment of dividends.
Our financing situation has remained good. At the beginning of the year, we communicated that our next financing arrangement would target loans maturing in 2026. At the beginning of March, we returned to the bond market and issued a EUR 500 million green bond. The seven-year loan significantly extends our debt maturity profile and reduces our refinancing risk. In connection with the issuance of the new bond, we made a tender offer for the company’s bond maturing in 2026. As a result, the company repurchased notes totalling EUR 165 million.
Other topics
Kojamo’s carbon neutrality work is progressing as planned. In March, we announced that Kojamo has passed the halfway point on the way to its target of carbon-neutral energy consumption in its properties by 2030. In four years, the apartment-specific carbon footprint of Lumo homes has already decreased by 56 per cent.
Kojamo accelerates the carbon-neutrality of Lumo buildings with demand response for district heating and smart heating optimisation. Kojamo and Alva have agreed on demand response for district heating in more than 40 Lumo buildings in Jyväskylä. With the help of demand response, we will cut the carbon emissions per apartment of Kojamo’s entire property portfolio by approximately five per cent. This will also improve resource efficiency and reduce the housing expenses.
We told in March that with renovations, we aim to improve the energy efficiency of Lumo buildings and thus increase the comfort of living. Kojamo’s goal is to achieve a relative improvement of at least 30 per cent in energy efficiency in all renovation projects concerning an entire building. In 2024, Kojamo invested a total of EUR 28.2 million in the renovation and modernisation of its property portfolio, and three Lumo buildings were completed.
Well-functioning recycling and sorting opportunities are an important part of everyday sustainability. In January, we told about how we optimise waste management according to building-specific needs. The aim of the waste collection point renewal is primarily to improve the comfort of living of Lumo homes and the recycling rate of Lumo buildings, while also bringing cost savings that affect housing costs.
Future events
Kojamo’s silent period starts on 8 April 2025, and the Interim Report for January-March 2025 will be published on 8 May 2025.
You can find information about future events and roadshows in Kojamo’s investor calendar.
Niina Saarto, Director, Treasury & Investor Relations, Kojamo plc, niina.saarto@kojamo.fi, tel. +358 20 508 3283
Kojamo is Finland’s largest private residential real estate company and one of the biggest investors in Finland. Our mission is to create better urban housing. Lumo offers environmentally friendly housing and services for the city dweller who appreciates quality and effortlessness. We actively develop the value of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo’s shares are listed on the official list of Nasdaq Helsinki. For more information, please visit https://kojamo.fi/en/