Q3 2024 Kojamo Oyj Earnings Call Transcript
Key Points
- Total revenue and net rental income increased by 3.1% from the corresponding period.
- The financial occupancy rate improved during Q3 compared to Q2, indicating positive momentum.
- The company's saving program is proceeding according to plan, with cost items and investments in line.
- Kojamo Oyj's balance sheet remains strong, and the liquidity situation is good.
- The company has a strong cash position of roughly EUR 350 million, providing flexibility for future financing needs.
- Financial occupancy rate decreased from the corresponding period, indicating challenges in maintaining occupancy.
- Increased finance and maintenance expenses negatively impacted Turm FFO.
- The average cost of financing remains higher compared to the previous year.
- The rental market is still experiencing oversupply, affecting occupancy rates.
- The transaction market remains muted with low volumes, impacting potential disposals.
Good morning.
Welcome. This is Kao's third quarter result webcast. I'm Nina San from Investor relations.
Today's presenter is our interim CEO Eric.
Eric's going to go through the results. And then as usual, we have Q&A you can send questions via chat or in case you want to ask the questions yourself, you can click the hand sign on the screen and then you just wait for your turn in the queue.
Now we can start the presentation. I'll hand over to you, Eric.
Thank you Nina and Good morning everybody. I'm excited to discuss about coos Q3 figure.
Oh, page 4 we have in a nutshell. What happened in during the Q3 and our total revenue and net rental income increased both actually by 3.1% from the corresponding period. Our financial occupancy rate decreased from a corresponding period. But the occupancy rate, third quarter improved compared to the second quarter. So our occupancy rate is not on a satisfactory
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