Kojamo Plc (KOJAF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen, and welcome to Kojaamo's news conference. I'm Niina Sarto from Investor Relations. Today we have two speakers. Our CEO, Reema Rytselä, starts with the key highlights for the period and with the operating environment. And then CFO Erikelt continues. We're going to hear more about the financial development. We have Q&A following their presentation, and then we take live questions and questions coming via chat. Now let's go handing over to you. Thank you Nina and very good afternoon on behalf of myself as well. We released an hour ago of our Q3 results and happy to say that it was a solid quarter even though the market conditions are still more or less challenging even though kind of a bit improving. I think the highlight again on this Q3 was the kind of recent occupancy rate. We had a very good performance and our occupancy rate raised in Q3 to 96.1. We also, due to that fact, were able to kind of grow our revenues and net rental income and also the leakage that we discussed last quarter on Q2 that net rental income didn't grow as much as revenue we said at that time that we see it as a seasonal adjusted issues there and it remains the to be true and this time the net rental income grew in the same pace than revenues. FFO decreased due to the fact that the financing costs are way higher than last year and repair expenses are a bit higher than previous year. The balance sheet as such is in a strong shape and during the quarter we closed the sale of close to 2,000 apartments to Apollo Funds and we kind of paid our depth for 200 million and launch also the share buyback. The market as such is still, as I said in a very first sentence, is still kind of in a challenging mode, but I think we have a slight slight or minor signs of improve...