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18.1.2021 | Investor newsletters

Investor newsletter January 2021

Kojamo’s investor newsletter is primarily published always after an Interim Report and the subsequent roadshow before the beginning of the silent period. The purpose of the newsletter is to discuss the 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 It does not contain new, unpublished information.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 or you can subscribe to it via e-mail.

Q3/2020

The Interim Report for January-September 2020 was published on 5 November 2020.

The COVID-19 pandemic did not have a significant impact on Kojamo’s result, balance sheet or cash flows during the first nine months of the year.

The publications, webcast recording from the results news conference as well as transcript of the event are available at Kojamo’s Investors website.

Investors’ Day, roadshows and investor meetings

We hosted Kojamo’s first Investors’ Day in the beginning of December.

The purpose of the day was to increase understanding on Kojamo as an investment. No updates related to the company’s strategy or outlook were released at the event. At the event we introduced Kojamo’s digital roadmap guiding our development work. The roadmap is based on three value-adding sub areas: customer experience and servitisation; scalability of operations, employee experience; and digitalisation of properties and services. These are enabled by knowledge-based management and AI as well as enabling technology and IT architecture. We went through related examples and next steps.

Additionally, we published our sustainability programme in connection with Investors’ Day and introduced it in the event. With its sustainability programme Kojamo commits to complying with the UN Sustainable Development Goals and aims to use carbon-neutral energy in its properties by 2030. As part of the company’s goal of becoming carbon-neutral, Kojamo has joined the Net Zero Carbon Buildings Commitment of the World Green Building Council. Aiming for carbon-neutral energy use is an ambitious goal that guides the company’s responsibility work. Kojamo wants to take action to restrain climate change by improving the energy consumption of its property portfolio and reducing its carbon footprint.

We also talked about our growth strategy from development point of view. It is central for us to be able to create growth from different sources: by acquiring properties or portfolios, project development or acquiring projects straight from construction companies, as we did in the reverse tender offer process. We gave more color on our development with a case example and walked through how we assess our investments, schedule, responsibilities and actual renting process.

The materials and webcast recording of Investors’ Day is available at Kojamo’s Investors website

Additionally, Kojamo has met investors via virtual roadshows and conference calls during November–January. The discussion has focused on the impact of COVID-19 pandemic on our operating environment and rental operations. In our view, the impact of the pandemic is temporary and in longer term urbanisation creates demand for apartments in largest growth centres. We have continued our investments as normal and the number of apartments under construction has doubled from previous year. The occupancy rate remained on the same level as at the end of June. During the meetings we have discussed the impact of occupancy rate on Like-for-Like growth. It is good to remember that Like-for-Like rental growth is calculated as the change of rental income for properties owned for two consecutive years in the past 12 months compared to the previous 12-month period. Calculation principal differs from occupancy rate, which is a year-to-date figure.

Other topical matters

In October we announced to start the construction of 157 apartments in Myyrmäki district in Vantaa and 77 apartments in Kontula district in Helsinki. In November we announced to start the construction of 153 apartments in Lippajärvi district in Espoo and 54 apartments in Kannelmäki district in Helsinki.

In 2020 we participated in the real estate sector’s international GRESB Sustainability Assessment for the first time and received good results. With the result, Kojamo exceeded the average result of its comparison group (Northern Europe, Residential, Multi-family) and earned a Green Star designation and three stars out of a possible five.

In November, we revised the Code of Conduct for our employees and cooperation partners. The Code of Conduct includes the Group’s business practices and requirements related to responsible and legally compliant operations, conflicts of interest, combating the grey economy, competing activities, responsibility for employees, bribery and corruption, sponsorship, environmental responsibility and the protection of assets and data.

In December, we published the Proposals of the Shareholders’ Nomination Board of Kojamo to the Annual General Meeting. As a new member of the Board, the Nomination Board proposes Catharina Stackelberg-Hammarén, whose CV is attached to the stock exchange release.

In January, we announced to have signed EUR 75 million Revolving Credit Facility which is the first financing arrangement linked to the key sustainability targets of our new sustainability programme.

Future events

Kojamo’s silent period will start on Tuesday, 19 January 2021. The Financial Statements Release 1 January – 31 December 2020, the Financial Statements and the Report of the Board of Directors, Corporate Governance Statement and Remuneration Statement will be published on 18 February 2021. You can find information about future events and roadshows in Kojamo’s investor calendar.

Maija Hongas, Manager, Investor Relations, Kojamo plc, maija.hongas@kojamo.fi, tel. +358 20 508 3004

Kojamo is Finland’s largest private residential real estate company and a frontrunner in the housing business. Our mission is to create better urban housing. The Lumo brand provides environmental-friendly housing and services in Finland’s biggest growth centres. 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 kojamo.fi/en/

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