Lumo Kodit Oyj (LTS:0A0E)

Q2 2026 Lumo Kodit Oyj Earnings Call Transcript

Aug 13, 2026 / 07:00 AM GMT

Release Date Price: €8.52 (+3.87%)

Transcript

Key Points

Positve

Strong quarter with total revenue, net rental income, and FFO growing significantly.
Successfully raised occupancy of the acquired 4,761-apartment portfolio from 83% to 89% during Q2, ahead of expectations.
Finnish economy showing strong growth, with GDP up 0.9% in both Q1 and Q2, leading in Europe.
Supply of rental apartments in Helsinki area declined by ~20%, improving supply-demand balance.
Financial position stable with strong liquidity, including 275 million in unused credit facilities and a 500 million backstop facility.
Like-for-like rental income increased 2.7%, driven by a 3.7% occupancy effect.
Equity ratio remains strong at 45%, with sizable headroom to financial covenants.
Expect to reach stabilized occupancy for the acquired portfolio by Q3, earlier than initially planned.
Integration of the Varma portfolio is going well, with performance exceeding underwriting expectations.
Refinanced 300 million acquisition financing with a bond issue in May, securing cost-effective terms.

Negative

Pricing power for landlords has not yet improved, with new lease agreements still slightly negative year-to-date.
FFO guidance upper limit was lowered by 5 million due to higher-than-anticipated finance expenses.
Revenue guidance was narrowed, with the lower end raised and upper end lowered, keeping the midpoint unchanged.
Like-for-like rents and water charges were slightly negative at -1%.
Loan-to-value ratio at 45.1% is slightly above the internal target of 45%.
Tenant turnover ratio increased slightly to 14.5%.
Geopolitical tensions and rising interest rates pose a cloud over the economic outlook.
Vantaa region is lagging behind Helsinki and Espoo in market recovery due to a weak construction sector.
Average rent per square meter increase is partly due to the higher-rent acquired portfolio, not organic growth.
Financial expenses were 2.3 million higher compared to last year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LUMO.HE - Lumo Kodit Oyj
Q2 2026 Lumo Kodit Oyj Earnings Call
Aug 13, 2026 / 07:00AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning all, and welcome to Luma Homes Half Year Results webcast. I'm Nina Saarto, I'm Treasury and Investor Relations Director.

Soon we will hear the Q2 results.

Our CEO, Reema Hruchela, starts giving also an update on the market as well as on the acquired portfolios leasing and how the integration to our platform has started.

Then interim CFO, Antti Sivanek, continues with financial development and outlook.

Q&A follows the presentation and there we welcome both live questions and chat questions.

So now we can start with the presentation.

--------------------------------------------------------------------------------
Unidentified_2 [2]
---------------------------------

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.