Result and profitability

The Group’s net rental income totalled EUR 227.4 (210.0) million, representing 61.3 (58.9) per cent of turnover. The VVO Non-subsidised segment recorded a net rental income of EUR 134.6 (111.8) million, and the VVO State-subsidised segment EUR 94.9 (100.9) million.

The Group’s profit before taxes amounted to EUR 224.7 (146.5) million. The result includes a EUR 70.3 (26.2) million change in the fair value of investment properties, and capital gains and losses of EUR 2.7 (-4.6) million. The good result is based on changes in the fair value of investment properties, a good rental occupancy rate, the successful management of maintenance costs and low fi-nancial costs. Financial income and expenses totalled EUR -37.1 (-47.3) million.