Q3 beat, market sentiment fuel Kojamo shares

Lumo Kodit Oyj

02/11/2023 09:54

** Shares in Kojamo  KOJAMO.HE  rise 11% after the Finnish
residential real estate group posted better-than-expected Q3
results
    ** Its third quarter revenue, up 5.7% yoy to EUR 111.5
million ($118.08 million), beat consensus estimate of EUR 110.7
million, with adjusted EBITDA nearly 5% above the EUR 70.5
million seen by analysts 
    ** Barclays highlights Kojamo's beat on FFO (funds from
operations) line -- EUR 48.5 million vs consensus of EUR 44.5
million
    ** The brokerage points to lower operating expenses achieved
faster than expected which could be linked to the savings
programme announced by the landlord last quarter
    ** Kojamo trimmed its outlook on 2023 total revenue to
growth of 7–8%, but upgraded its FFO forecast to between EUR
162–168 million from previous view of EUR 158–167 million
    ** Kojamo share, on track for best day in a year, is among
top performers of the pan-Europan STOXX 600 Index  .STOXX 
        ** The stock also crowns STOXX' real estate index
 .SX86P , which is up nearly 5% at 09:50 GMT, after 
    FED decision
     to keep rates unchanged  
  

($1 = 0.9443 euros)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))