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 It does not contain new, unpublished information.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.
H1/2025
The Half-Year Financial Report for January-June 2025 was published on 21 August 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 have met investors in August-September via meetings and conference calls. In September, we also attended Goldman Sachs European Real Estate Equity and Debt Conference in London and EPRA Investor Day in Stockholm.
The improvement in our occupancy rate and the balancing of the market remain the key topics of discussion. We have significantly increased our occupancy rate, with one contributing factor being more dynamic, apartment-specific pricing. We have also enhanced our processes and focused repairs to support renting of apartments. The balancing of the rental market continues, and there is still oversupply in the capital region. However, there are big differences between cities. This year, our focus remains on further improving occupancy. Our pricing model also works in situation where the market allows for higher rent increases.
The sale of 1,944 apartments completed at the end of July has sparked a lot of discussion. The 44 properties sold were mainly located outside the capital region and were not part of our core strategic areas. The proceeds from the sale have been used for repayment of debt and share buybacks. We still have a few non-yielding assets for sale, such as some of the so-called Metropolia properties. Also, we have communicated that our goal is to focus even more strongly on Finland’s largest cities.
Our financial position and balance sheet have remained strong, and access to financing has continued to be good. During the summer and early autumn, we refinanced bank loans maturing next year. The refinancing of loans maturing in 2027 will likely take place during the first half of next year. We have received many questions about our credit rating and discussions with Moody’s. The annual credit rating review took place after the summer, and in September, Moody’s affirmed Kojamo’s Baa2 credit rating and upgraded the outlook to stable.
We have initiated a review of our strategy. This is more of an update of the current strategy rather than creating an entirely new one. As part of this review, we are evaluating our strategic focal points as well as future growth opportunities and dividend policy.
Other topics
In September, we published the dates for our financial reporting and Annual General Meeting for 2026.
We also published the composition of our Shareholders’ Nomination Board which consists of Christian Fladeland, Co-CEO, Heimstaden AB, Annika Ekman, EVP, Investments, Ilmarinen Mutual Pension Insurance Company, and Risto Murto, CEO, Varma Mutual Pension Insurance Company.
In August, we signed a EUR 100 million unsecured term loan facility agreement linked to sustainability targets with OP Corporate Bank that refinanced the EUR 100 million loan with OP maturing in 2026. Additionally, in September, we entered into a EUR 75 million revolving credit facility agreement with Danske Bank which replaced the EUR 75 million revolving credit facility from Danske Bank maturing in 2026.
We received again EPRA gold awards for our Financial Statements and Sustainability Report. This is already the second consecutive year that both of Kojamo’s reports have received gold.
Our sustainability work continues. We are installing a geothermal heating system and heat recovery in two Lumo buildings. The geothermal heating and heat recovery improve the energy efficiency of the property and reduce its heating costs. The first project will be completed by the end of September 2025. Additionally, we contribute to the electrification of the car stock by building charging stations in the parking lots of Lumo buildings and nearby parking facilities. The use of charging stations has increased significantly in recent years, and charging stations are added in accordance with the residents’ needs.
As part of Kojamo’s sustainability work, we organized the autumn scholarship application round to support hobbies for children and young people. The grants have been part of Kojamo’s sponsorship and grant programme since 2012.
The keys to Lumo homes can now be picked up and returned easily in Helsinki via the key locker installed in residential buildings or in the yard. We have installed 26 key lockers in Lumo buildings in Helsinki. The new lockers serve nearly 5,000 Lumo residents.
Future events
Kojamo’s silent period starts on Tuesday, 30 September 2025, and the Interim Report for January-September 2025 will be published on Thursday, 30 October 2025. You can find information about future events and roadshows in Kojamo’s investor calendar.
Niina Saarto, Director, Treasury & Investor Relations, Kojamo plc, tel. +358 20 508 3283, niina.saarto@kojamo.fi
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/