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Lumo Kodit (LUMO) investor relations material
Lumo Kodit Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue, net rental income, and FFO grew strongly in Q2 and H1 2026, supported by improved occupancy and the acquisition of 4,761 apartments, the largest real estate transaction in Finland in the 2020s.
The acquired portfolio's occupancy rose from 83% at acquisition to 89% by quarter-end, with expectations to reach 96–97% by Q3.
Financial position remained robust, with strong liquidity, a financial occupancy rate of 95%, and proactive refinancing measures.
Customer satisfaction remained high, with an NPS of 59, and strategic initiatives focused on customer experience and sustainability.
Financial highlights
H1 2026 revenue increased by 2.6% to €235.8 million; Q2 revenue rose 8.1% year-over-year to €125.0 million.
Net rental income for H1 was €151.6 million (+4.1%); Q2 net rental income up 10.7% to €91.7 million.
FFO for H1 reached €64.8 million (+4.5%); profit before taxes improved to €62.7 million from a prior loss.
Fair value of investment properties rose to €8.5 billion (+7.5%).
Gross investments in H1 totaled €872.4 million, mainly due to the portfolio acquisition.
Outlook and guidance
2026 revenue guidance narrowed to €488–493 million; FFO guidance set at €147–152 million, excluding non-recurring costs.
FFO guidance upper limit reduced by €5 million due to higher finance expenses.
Guidance excludes potential future acquisitions or disposals.
Pricing power is expected to improve by late 2024 or early 2025 as supply-demand balance shifts.
- Revenue and FFO declined, but occupancy and like-for-like rental income improved.LUMO
Q1 2026 - Customer-centric growth, digitalization, AI, and sustainability define the unified strategy.LUMO
CMD 2026 - Revenue and occupancy rose, FFO fell, and a €900M portfolio acquisition is set for 2026.LUMO
Q4 2025 - Revenue and occupancy rose, but FFO declined amid higher costs and major property sales.LUMO
Q3 2025 - Revenue and occupancy up, FFO down, major asset sale and buyback amid market oversupply.LUMO
Q2 2025 - Revenue and net rental income rose, but FFO and investments declined; liquidity remains strong.LUMO
Q3 2024 - Revenue up, but FFO and profit down as costs rise and oversupply persists.LUMO
Q2 2024 - Revenue and occupancy rose, but FFO fell on higher costs; liquidity and outlook remain strong.LUMO
Q1 2025 - Revenue up, FFO down; investments and dividends cut to maintain financial stability.LUMO
Q4 2024
Next Lumo Kodit earnings date
Next Lumo Kodit earnings date
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