Kojamo Plc (KOJAF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning all and welcome to LUMO Home's half-year result webcast. I'm Niina Saarto, I'm Treasury and Investor Relations Director. Soon we will hear the Q2 results. Our CEO, Reima Rytsola, starts giving also an update on the markets as well as on the acquired portfolios leasing and how the integration to our platform has started. Then, entering CFO Antti Sivanen continues with financial development and outlook. Q&A follows the presentation and there we welcome both live questions and chat questions. So, now we can start with the presentation. Very good morning on behalf of myself as well and welcome to this LUMO Q2 earnings release webcast. We had actually a strong quarter behind us and all the total revenue, net rental income and FFO grew strongly in second quarter. All in all, the market conditions seem to improve, and I come back on later stage a little bit more detailed on the market conditions. Our occupancy rate grew from last year's comparison point, even though we acquired on 1st of April Portfolio 4761 apartments which occupancy was much lower, 83 on the date of 1st of April. but already during Q2 we managed to raise the occupancy from 83 to 89 on this acquired portfolio and it was truly a success and the development has continued in very favorable terms since the end of June also. We also refinanced 300 million of our acquisition financing with the bond issue in May and all in all our financial position remains stable. In June we also signed 500 million backstop facility agreement which which is very favorable terms in cost effective wise to us and enables us to kind of refinance the maturing bond not earlier than next spring. If I then start with the operating environment, so all in all, I think The first half of the year for Finnish economy has been ve...