Key indicators and financing sources

VVO Group’s turnover during the period 1 January–31 December 2016 amounted to EUR 351.5 (370.9) million. The Lumo segment recorded a turnover of EUR 291.1 (208.8) million, and the VVO segment EUR 61.5 (165.8) million. Turnover is entirely generated by rental income.

The Group’s net rental income totalled EUR 222.0 (227.4) million, representing 63.2 (61.3) per cent of turnover. The Lumo segment recorded a net rental income of EUR 190.3 (134.6) million, and the VVO segment EUR 32.8 (94.9) million.

The fair value of investment properties at the end of the financial year was EUR 4.3 (4.0) billion, including EUR 70.6 (534.2) million classified into non-current assets held for sale. At the end of the financial year, VVO Group owned 34,974 (41,153) rental apartments.

On 31 December 2016, the equity ratio stood at 40.7 (41.1) per cent. Equity per share was EUR 251.20 (234.85). The equity ratio of the Lumo segment stood at 40.0 (45.7) per cent.

The Group’s liquidity remained good throughout the financial year. At the end of the financial year, the Group’s liquid assets totalled EUR 132.0 (116.0) million. EUR 141.3 (108.8) million of the EUR 200 million commercial paper programme was in use at the end of the financial year. In addition, the Group has committed credit facilities of EUR 100 million and an uncommitted credit facility of EUR 5 million that remained unused at the end of the financial year. At year end, interest-bearing liabilities stood at EUR 2,122.8 (1,494.6) million, of which EUR 1,726.1 (1,114.9) million was accounted for by market-based loans. During the financial year, EUR 482.6 (195.9) million of new long-term financing was raised. At the end of the financial year, the Group’s loan to value was 46.7 (39.4) per cent.

Key indicators