Finland's Lumo Kodit Q2 revenue rises 8.1% on portfolio acquisition
Finland's Lumo Kodit Q2 revenue rises 8.1% on portfolio acquisition
Overview
Finland residential real estate firm's Q2 revenue rose 8.1% year-over-year
Net rental income and FFO both increased, supported by portfolio acquisition and higher occupancy
Company narrowed 2026 revenue and FFO guidance range
Outlook
Lumo Homes sees 2026 total revenue at €488–493 mln, narrowing previous guidance
Company expects 2026 FFO at €147–152 mln, lowering upper end of prior forecast
Company says improving market conditions and declining rental supply support occupancy rates
Result Drivers
PORTFOLIO ACQUISITION - Co said Q2 revenue and net rental income growth were supported by the portfolio acquisition completed in April
HIGHER OCCUPANCY - Co said improved occupancy rate and exceptionally high renting activity contributed to Q2 performance
STRONG LEASING OF NEW PORTFOLIO - Co said leasing of apartments in the acquired portfolio progressed ahead of expectations, with occupancy rising from 83% to 89% by end of June
Company press release: ID:nGNE76b5NZ
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| EUR 125 mln |
|
Q2 EPS |
| EUR 0.25 |
|
Q2 Adjusted EBITDA |
| EUR 80.50 mln |
|
Q2 FFO |
| EUR 43.60 mln |
|
Q2 Pretax Profit |
| EUR 83.60 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "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 €10.40, about 26.5% above its August 12 closing price of €8.22
The stock recently traded at 15 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.)