Operational and financial trends in 2014

Both VVO's turnover and profit increased in 2014. The occupancy rate remained high, and there were 1,127 apartments under construction at the end of the year. In 2014, VVO spent over EUR 250 million on new construction, housing acquisitions, and apartment repairs.

• Turnover totalled EUR 367.9 (346.6) million. This growth was generated by increased profit from rental operations.
• Profit before taxes amounted to EUR 90.3 (75.9) million. Our favourable profit performance was based on the successful management of maintenance costs, a low tenant turnover rate, low financial costs, and a good occupancy rate.
• The financial occupancy rate remained high, standing at 98.1 (98.5) per cent.
• The tenant turnover rate remained at the same level as in the previous year, that is, 25.8 (25.4) per cent.
• There were 1,127 (1,020) rental apartments under construction at the end of the financial year.
• The Group owned 40,793 (40,194) apartments on 31 December 2014.
• The fair value of our rental apartments was EUR 3.6 (3.4) billion.
• The Group’s gross investments during the period totalled EUR 200.4 (223.2) million.

Key indicators for five years

 1) Per-share figures and ratios are based on the number of shares each year.
2) The Board of Directors proposes that a dividend of EUR 3.00 per share be paid.
3) Average rent per year