interim report Q1/2014
Review period january–march 2014
- Turnover for the period amounted to EUR 89.4 (85.5) million, such growth being attributable to revenue from the rental business.
- Profit before taxes amounted to EUR 23.2 (20.6) million. Our favourable profit performance is based on the successful management of maintenance costs, a small tenant turnover rate, a good occupancy rate, and low financial costs.
- On 31 March 2014, the Group owned 40,273 (39,874) rental apartments. A total of 969 (645) rental homes were under construction.
- The Group’s gross investments in the period amounted to EUR 32.3 (27.4) million, consisting of investments in new development and renovations.
- On 31 March 2014, the equity ratio at fair value was 40.9 per cent.
- The financial occupancy rate of properties was high, standing at 98.4 (98.2) per cent. Resident turnover was low, at 6.7 (6.1) per cent.