Turnover and result

The VVO Group had a turnover of EUR 188.5 (171.6) million for the period 1 January to 30 June 2014. The VVO Non-subsidised segment recorded a turnover of EUR 100.7 (85.6) million, and the VVO State-subsidised segment EUR 93.2 (91.2) million. Increased income from rental activities in both business segments boosted turnover as well as sales income from the VVO Non-subsidised segment's inventory properties.

The Group posted an operating profit of EUR 73.8 (64.6) million, representing 39.2 (37.7) per cent of turnover. Profit before taxes amounted to EUR 51.7 (43.9) million. The result includes EUR 5.4 (6.2) million in sales gains from fixed assets. 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.

Financial income and expenses included in the result totalled EUR -22.1 (-20.7) million. The VVO Non-subsidised segment generated EUR 35.4 (30.5) million in profit before taxes and the VVO State-subsidised segment EUR 16.5 (13.6) million.