Kojamo’s investor newsletter is primarily published after an Interim Report and the subsequent roadshow, 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 It does not contain new, unpublished information.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.
Q1/2025
The Interim Report for January-March 2025 was published on 8 May 2025.
The publications, webcast recording from the results news conference as well as transcript of the event are available at Kojamo’s Investors website.
Roadshows and investor meetings
We met investors in May-June via seminars and conference calls. We participated in Van Lanschot Kempen’s European Real Estate Seminar in Amsterdam in May, and we met with investors in Helsinki as a part of Nordea’s Mid-Q Update Day in June.
The development of the occupancy rate has been one of the key topics of discussion. Our occupancy rate has improved since last autumn, and we have continued to take active measures in the spring to further increase our occupancy rate. We have refined our internal processes, and we have been more flexible in pricing the apartments that have become available. For existing lease agreements, we have done moderate rent increases but, as we have mentioned in our discussions, the market conditions do not yet support bigger rent increases. There is still oversupply in the capital region, but different cities appear to be at slightly different stages in terms of the supply rebalancing.
There have been a lot of interest in the property sales plans and the transaction market. We have previously told that our goal is to carry out moderate property sales. In June, we signed an agreement to sell 44 rental housing properties to Apollo-managed funds and Avant Capital Partners for a debt-free sale price of EUR 242 million. With the transaction, 1,944 apartments will be sold from eight different municipalities across Finland. The majority of the apartments are located outside the capital region, and thus, the transaction supports our strategy to focus on Finland’s largest cities. Once the transaction has been completed, we will provide further details on its impact on this year’s figures as well as on the intended use of the proceeds from the sale.
Our financial situation and credit rating remain important themes for discussions. This spring, we issued a new bond, and our liquidity situation is very strong. There are no further loans maturing this year, and the loans maturing next year have already been covered. The next new refinancing arrangement will be for the loans maturing in 2027, and therefore, the cost of our debt portfolio is not expected to increase in the near term.
Other topics
Reima Rytsölä started as the CEO on 2 June. Erik Hjelt continues as the company’s CFO.
We announced two new appointments to Kojamo’s Management Team. Katri Viippola (MA, eMBA) has been appointed as Executive Vice President, Human Resources, Communications and Sustainability, and a member of the Management Team at Kojamo plc. She will start in her role at latest on 1 October 2025. Additionally, Tuomas Kaulio (M.Sc. (Tech.)), who currently serves as the company’s Chief Technology Officer (CTO), has been appointed as a member of the company’s Management Team, starting from 1 July 2025.
We signed a EUR 100 million unsecured term loan facility agreement linked to sustainability targets with Swedbank that will refinance the EUR 100 million loan with Swedbank maturing in 2026.
We received recognition for our climate work in the Europe’s Climate Leaders ranking. The Financial Times has compiled a list of European companies that have significantly reduced their greenhouse gas emissions between 2018 and 2023. Kojamo has been selected for the Europe’s Climate Leaders list for the first time.
In June, we told about our completely redesigned chat service, the Lumo bot. The AI-based new bot serves Lumo residents and apartment seekers more effectively than before with a wide range of topics concerning renting and housing. The service provides customers with quick help in their preferred language around the clock. The aim of the renewal of the Lumo homes chat service is primarily to improve the customer experience, but also to make the work of Lumo service advisors more efficient and generate savings.
Kojamo is a pioneer in the use of artificial intelligence in the real estate industry. In 2016, we took into use the first AI solution for optimising apartment heating. Another example is the AI-based Apartment Agent, launched in 2023, designed to help customers find a Lumo home easily with the help of recommendation algorithm based on artificial intelligence. Currently, there are ten different AI solutions in active use, and the possibilities for utilising new solutions are continuously being surveyed. Artificial intelligence has become a part of the everyday work of Kojamo’s employees as well. The last tangible step is the piloting and deployment of various assistants based on generative AI among Kojamo’s information workers.
In April, we published the Green Impact Report for 2024.
Future events
Kojamo’s silent period starts on Tuesday, 22 July 2025, and the Half-Year Report for January-June 2025 will be published on Thursday, 21 August 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/