VVO Group plc
The Group's net rental income totalled EUR 55.4 (51.9) million, representing 61.0 (58.9) per cent of turnover. The VVO Non-subsidised segment recorded a net rental income of EUR 28.9 (26.9) million, and the VVO State-subsidised segment EUR 27.1 (25.7) million.
The Group's profit before taxes amounted to EUR 60.4 (35.7) million. The result includes a EUR 26.0 (4.0) million change in the fair value of investment properties, and capital gains and losses of EUR 0.9 (-1.4) million. Our favourable profit performance is based on a good financial occupancy rate, the successful management of maintenance costs, low financial costs, and changes in the fair value of investment properties. Financial income and expenses totalled EUR -12.3 (-11.3) million.
Net rental income