Result and profitability

The Group’s net rental income totalled EUR 172.4 (170.5) million, representing 64.6 (61.7) per cent of turnover. The Lumo segment recorded a net rental income of EUR 144.3 (93.2) million, and the VVO segment EUR 29.0 (79.1) million.

The Group’s profit before taxes amounted to EUR 154.4 (167.3) million. The profit includes EUR 68.6 (52.5) million in net valuation gain on the fair value assessment of investment properties, and capital gains and losses of EUR -20.3 (1.4) million. Our favourable profit performance is based on changes in the fair value of investment properties, low financial costs, a good financial occupancy rate and the successful management of maintenance costs.

Financial income and expenses totalled EUR -38.6 (-27.9) million. Financial income and expenses include EUR -10.3 (-0.0) million in unrealised changes in the fair value of derivatives.