Summary of January–June 2015
(comparison period 1 Jan.–30 June 2014)
- Turnover totalled EUR 183.1 (177.2) million. This growth was generated by increased profit from rental operations.
- Profit before taxes amounted to EUR 124.4 (65.4) million and is based on changes in the fair value of investment properties, a good financial occupancy rate, the successful management of maintenance costs and low financial costs.
- Net rental income was EUR 113.2 (107.2) million, representing 61.8 (60.5) per cent of turnover.
- The financial occupancy rate remained high, standing at 97.4 (98.2) per cent.
- Tenant turnover stayed at the same level as in the comparison period, that is, 13.7 (13.5) per cent.
- There were 1,385 (919) rental apartments under construction at the end of the review period.
- The Group owned 40,674 (40,462) rental apartments on 30 June 2015.
- The fair value of investment properties was EUR 3.9 (3.6) billion. Their fair value amounted to EUR 3.7 billion at the end of 2014. The change in fair value totalled EUR 156.6 (81.3) million, which includes EUR 47.2 (-2.9) million in net valuation gain on the fair value assessment.
- The Group’s gross investments during the period totalled EUR 115.0 (101.7) million.
Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year. The figures in this Interim Report have not been audited.