Result and profitability

The Group’s net rental income totalled EUR 116.5 (113.2) million, representing 63.9 (61.8) per cent of turnover. The Lumo segment recorded a net rental income of EUR 90.5 (59.5) million, and the VVO segment EUR 26.7 (55.0) million.

The Group’s profit before taxes amounted to EUR 105.3 (124.4) million. The profit includes EUR 56.2 (47.2) million in net valuation gain on the fair value assessment of investment properties, and capital gains and losses of EUR -26.9 (1.4) million. Our favourable profit performance is based on changes in the fair value of investment properties, low financial costs, a good rental occupancy rate and the successful management of maintenance costs. Financial income and expenses totalled EUR -21.2 (-17.2) million.