Turnover and result

VVO Group had a turnover of EUR 277.9 (258.6) million for the period 1 January–30 September 2014. The VVO Non-subsidised segment recorded a turnover of EUR 146.2 (129.6) million, and the VVO State-subsidised segment EUR 140.0 (137.1) million. Turnover was boosted by increased income from rental activities in both business segments, as well as capital gains from the sale of current assets in the VVO Non-subsidised segment.

The Group's operating profit totalled EUR 108.1 (96.8) million, representing 38.9 (37.5) per cent of turnover. Profit before taxes totalled EUR 74.2 (66.7) million. The result includes EUR 5.4 (8.3) million in capital gains and losses from the sale of fixed assets. Our favourable profit performance is based on the successful management of maintenance costs, a low tenant turnover, a good occupancy rate, and low financial costs.

Financial income and expenses included in the result totalled EUR -34.0 (-30.2) million. The VVO Non-subsidised segment generated EUR 49.2 (47.3) million in profit before taxes and the VVO State-subsidised segment EUR 25.1 (19.7) million.