Kojamo Plc (KOJAF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to LUMO Homes Q1 Result Webcast. I am Niina Saarto, Treasury and Investor Relations Director. Today we'll present you first quarter's figures and we will also give an update on the acquisition of nearly 4,800 apartments, which we completed after the review period on 1st of April. CEO Reima Rytsöla starts the presentation and then CFO Erik Hjelt will continue. In the Q&A, we will open the phone lines for questions. We also take questions via chat. So all is said, gentlemen, now it's your turn. Thank you, Nina. And a very good morning on behalf of myself as well. And welcome to this inaugural LUMO Homes PLC Interim Report. So fantastic to be here under this LUMO brand. Going a little bit through of our first quarter results and we have shared with the CFO Erik Hjeltså that Erik will go more thoroughly the figures and I will have a kind of a overview of market conditions and overall situation. But all in all, our like-for-like rental income grew and occupancy rate improved from previous year and that was a kind of, I would say, consistent development for us. Even though the total revenue and net rental income decreased, and that was mainly due to the sale of a portfolio of approximately 2,000 apartments, which was closing in last July. We had especially the people who are living in Finland remember that we had the extraordinary cold January, February here in Finland and that affected our FFO as well which declined due to that cold weather and of course the revenue decline as well. Our liquidity position remained very good and our balance sheet is strong and loan-to-value improved and came down to 42.5%. The market situation, I will come back in a minute. We also published our strategy and we had our capital markets day in March where we released ou...