ANNUAL REPORT 2016
OUR YEAR IN A NUTSHELL
Record-high investments in housing
- Housing investments stood at EUR 572.6 (250.5) million.
- A total of 3,381 (1,184) apartments were acquired or completed.
- A total of 1,232 (1,278) new apartments were under construction.
- After divestments, the number of apartments increased by 1,793 apartments
- Customer driven strategy focus resulted in the occupancy rate that improved during every quarter, rising from 94.8 per cent in the first quarter to 96.3 per cent in the last quarter. The full-year occupancy rate in Finland was 95.6 (96.4)%.
The equity ratio strenghtened
- Invested capital stood at EUR 3,196 (2,669) million.
- When evaluating business profitability, one of the key indicators is return on investment, which was 9.1 (7.6)%.
- Profit before taxes stood at EUR 219.4 (159.4) million. The improvement in profit is largely attributable to the positive change in the value of apartments, amounting to EUR 124.3 (62.4) million. The change in value is based on placing focus on smaller apartments in growing urban centres.
- The equity ratio strengthened supported by an increase in value and a capital investment made by our shareholders and the equity ratio was 35.2 (33.3)%.
- Net sales stood at EUR 318.0 (323.4) million, of which rental income comprised EUR 262.7 (249.4) million.
- Earnings per share was EUR 3.22 (2.49).