Annual reportAnnual
report2014 Q1/2015 Q2/2015 Q3/2015

VVO Group plc

ARAnnual
report
Annual
report2014 Q1/2015 Q2/2015 Q3/2015

Summary of January–September 2015 (comparison period 1 Jan.–30 Sept. 2014)

  • Turnover totalled EUR 276.3 (266.6) million. Turnover grew by EUR 9.7 million, thanks to increased profit from rental operations.
  • Profit before taxes amounted to EUR 167.3 (96.4) million, showing an increase of EUR 70.9 million. The profit was increased especially by changes in the fair value of investment properties, higher net rental income and lower financial costs.
  • Net rental income was EUR 170.5 (163.1) million, representing 61.7 (61.2) per cent of turnover.
  • The financial occupancy rate remained high, standing at 97.5 (98.1) per cent.
  • Tenant turnover stayed at the same level as in the comparison period, that is, 20.4 (19.8) per cent.
  • There were 1,199 (964) rental apartments under construction at the end of the review period.
  • The Group owned 40,899 (40,668) rental apartments on 30 September 2015.
  • The fair value of investment properties was EUR 3.9 (3.6) billion. Their fair value amounted to EUR 3.7 billion at the end of 2014. The change in fair value totalled EUR 199.2 (107.1) million, which includes EUR 52.5 (-6.9) million in net valuation gain on the fair value assessment.
  • The Group’s gross investments during the period totalled EUR 159.2 (132.4) million


Unless otherwise stated, the comparison figures in brackets refer to the corresponding period of the previous year. The figures in this Interim Report have not been audited.