Kojamo falls after Q4 impacted by oversupply
13/02/2025 10:44
** Shares in Kojamo KOJAMO.HE are down 3.2% after Q4 miss
as oversupply situation weighs on the Finnish residential real
estate group's operations
** Company reports Q4 adj. EBITDA of EUR 64.5 million
($67.23 million), below estimate of EUR 64.8 million as seen in
Vara Research consensus
** "While we believe that the recovery in the Finnish
residential market is getting closer, the results showed less
evidence of recovery than we had initially expected," John
Vuong, analyst at Van Lanschot Kempen says
** Kojamo expects 2025 Funds From Operations (FFO) at EUR
135–145 million, excluding non-recurring costs
** "FFO guidance points to another year of earnings decline,
and rental growth still impacted by oversupply in the Finnish
rental market," Barclays says
** Kojamo proposes no dividend for second year in a row,
which the broker says it had expected
** Barclays adds that Kojamo's equity story is "on stand-by"
until new CEO joins
($1 = 0.9593 euros)
(Reporting by Marta Frackowiak)
((marta.frackowiak@thomsonreuters.com))