Finland's Lumo Kodit Q3 revenue rises on portfolio acquisition
Finland's Lumo Kodit Q3 revenue rises on portfolio acquisition
Overview
Finland residential landlord's Q3 revenue rose 12% yr/yr
Q3 FFO increased 4.7% yr/yr
Company posted large Q3 pretax loss due to negative property revaluation
Outlook
Lumo Homes sees 2026 total revenue between EUR 488 mln and EUR 493 mln
Company expects 2026 FFO at EUR 147 mln to EUR 152 mln, excluding non-recurring costs
Outlook excludes impact of potential future acquisitions or disposals
Result Drivers
PORTFOLIO ACQUISITION - Co said revenue and net rental income growth were driven by the portfolio acquired in April and improved occupancy
HIGHER OCCUPANCY - Co said occupancy rate improvement and strong leasing activity supported results
MARKET CONDITIONS - Co cited declining rental supply, low construction, and population growth as supporting rental market balance
Company press release: ID:nGNE8LKhgq
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| EUR 127.30 mln |
|
Q3 Loss Per Share |
| EUR 0.27 |
|
Q3 Adjusted EBITDA |
| EUR 86.40 mln |
|
Q3 FFO |
| EUR 46.10 mln |
|
Q3 Pretax Loss |
| EUR 87.70 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy"
Wall Street's median 12-month price target for Lumo Kodit Oyj is €8.10, about 10.9% above its November 4 closing price of €7.31
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)