Kojamo's 2024: A Year of Growth and Stability

Alright, folks! Buckle up, 'cause we're diving into Kojamo plc's 2024 Financial Statements Release. Grab your coffee, 'cause we're in for a ride!



So, what's the big news? Well, Kojamo's total revenue and net rental income grew in 2024, and the fair value of their investment properties remained at the previous year's level. Not too shabby, huh? Let's dive in and see what made this year tick.

First off, Kojamo's total revenue increased by 2.3% to EUR 452.4 million. Their net rental income also grew by 1.9% to EUR 302.9 million. This growth can be attributed to a few key factors:

1. Increase in rental apartments: Kojamo owned 40,973 rental apartments at the end of 2024, compared to 40,619 in 2023. More apartments mean more revenue, right?
2. Completion of new apartments: Kojamo completed 354 apartments in 2024, contributing to the increase in revenue and net rental income.
3. Rise in rents: Although not explicitly stated, the increase in net rental income margin from 66.5% in 2023 to 66.9% in 2024 suggests that Kojamo may have increased rents for their tenants.

Now, let's talk about the elephant in the room: the fair value of Kojamo's investment properties remained unchanged at EUR 8.0 billion. How did they manage that? Well, a few factors contributed to this stability:

1. Stable occupancy rates: Kojamo maintained a high financial occupancy rate of 91.5% during the year, indicating strong demand for their rental apartments.
2. Minimal changes in investment properties: Kojamo completed 354 apartments, sold 0 apartments, and demolished or altered 0 apartments in 2024. This minimal activity in the investment properties portfolio helped preserve the fair value.
3. Stable rental income: Net rental income increased by 1.9% year-on-year, indicating consistent cash flows from Kojamo's investment properties.

So, what's the takeaway here? Kojamo's 2024 was a year of growth and stability. They managed to increase their revenue and net rental income while maintaining the fair value of their investment properties. By focusing on expanding their rental apartment portfolio, completing new units, and potentially increasing rents, Kojamo was able to achieve these positive results.

As investors, we can learn from Kojamo's success. Diversifying our investment portfolios, focusing on stable cash flows, and being patient can help us navigate market fluctuations and achieve long-term growth. So, let's raise a glass to Kojamo's 2024 – a year of growth and stability! Cheers!