interim report Q2/2014
Review period January–June 2014
- Turnover for the period amounted to EUR 188.5 (171.6) million, such growth being attributable to revenue from the rental business as well as from the sale of inventory properties.
- Profit before taxes amounted to EUR 51.7 (43.9) 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.
- At 30 June 2014, the Group owned 40,462 (39,851) rental apartments. A total of 919 (802) rental homes were under construction.
- The Group’s gross investments in the period amounted to EUR 101.6 (72.2) million, consisting of investments in new development and renovations as well as stock procurements.
- At 30 June 2014, the equity ratio at fair value was 41.3 (38.4) per cent.
- The financial occupancy rate of properties was high, standing at 98.2 (98.2) per cent. Resident turnover was low, at 13.5 (13.1) per cent.