Core Insights - Kojamo plc reported an improvement in occupancy rates, with total revenue and net rental income showing increases during the review period [1][6][12] Financial Performance - Total revenue for Q3 2025 was EUR 113.6 million, a 0.4% increase from EUR 113.2 million in Q3 2024 [5][6] - Net rental income for Q3 2025 was EUR 86.0 million, up 0.3% from EUR 85.7 million in Q3 2024, representing a margin of 75.7% [5][6] - Profit before taxes for Q3 2025 was EUR 32.8 million, down 35.2% from EUR 50.6 million in Q3 2024, influenced by a net loss of EUR 16.4 million from property valuations [5][6] - Funds From Operations (FFO) decreased by 3.3% to EUR 44.1 million in Q3 2025 compared to EUR 45.6 million in Q3 2024 [5][6] Investment and Property Management - Kojamo owned 39,001 rental apartments at the end of the review period, a decrease from 40,973 apartments the previous year [4] - Gross investments in Q3 2025 totaled EUR 13.6 million, representing 12.0% of total revenue, compared to EUR 2.2 million in Q3 2024 [5][6] - The fair value of investment properties was EUR 7.6 billion at the end of the review period, including EUR 41.8 million in properties held for sale [6] Occupancy and Market Conditions - The financial occupancy rate improved to 94.4% during the review period, with a further increase to 96.1% in Q3 2025 [6][13] - The rental market is balancing, with oversupply in the capital region but normalizing conditions in cities like Tampere and Turku [14] Strategic Developments - The company completed the sale of 44 residential properties, comprising 1,944 apartments, using EUR 200 million of the proceeds to repay loans [15] - A share buyback program was initiated, with plans to use up to EUR 75 million for buybacks [15] - A strategy review is underway to update the existing strategy, with further information expected during the financial statements publication [17] Outlook - Kojamo estimates a total revenue increase of 0-2% year-on-year for 2025, with FFO projected to be between EUR 135-141 million, excluding non-recurring costs [8][10]