Result and profitability

The Group’s net rental income totalled EUR 113.2 (107.2) million, representing 61.8 (60.5) per cent of turnover. The VVO Non-subsidised segment recorded a net rental income of EUR 59.5 (55.9) million, and the VVO State-subsidised segment EUR 55.0 (52.6) million.

The Group’s profit before taxes amounted to EUR 124.4 (65.4) million. The result includes a EUR 47.2 (-2.9) million change in the fair value of investment properties, and capital gains and losses of EUR 1.4 (0.9) million. Our favourable profit performance is based on a good financial occupancy rate, the successful management of maintenance costs, low financial costs, and changes in the fair value of investment properties. Financial income and expenses totalled EUR -17.2 (-22.7) million.