#Finland #Helsinki #Interim Report #Q1 2026 #Lumo Homes

Lumo Homes plc's Interim Report Summary for Q1 2026

Lumo Homes plc has released its interim report for the first quarter of 2026, showcasing a blend of challenges and opportunities within the real estate market. Spanning from January 1 to March 31, the report highlights key financial figures and strategic insights that are crucial for stakeholders and investors.

Key Financial Highlights

During the first quarter, Lumo Homes reported a total revenue of EUR 110.8 million, marking a 3.1% decrease from EUR 114.3 million in the same period last year. The net rental income also fell by 4.7%, landing at EUR 59.9 million compared to EUR 62.8 million in the previous year. Consequently, the net rental income margin has slightly declined to 54.0%.

One of the noteworthy figures was the profit before taxes, which resulted in a loss of EUR 20.9 million, a significant increase from a loss of EUR 11 million the previous year. This loss incorporates the net result from property valuation, which was EUR -42.6 million, alongside a minor profit from the sale of investment properties amounting to EUR -1.6 million. The earnings per share decreased to EUR -0.07 from EUR -0.04.

Despite these setbacks, Lumo reported a healthy financial occupancy rate of 95.6%, which illustrates a favorable demand for its rental apartments. Total gross investments surged to EUR 12 million from EUR 4 million, representing 10.9% of total revenue, reiterating the company’s commitment to growth and asset enhancement.

Operational Insights

Lumo Homes has maintained a portfolio of 38,898 rental apartments, down from 40,949. The company completed 119 apartments during the review period and sold 2,170 apartments, which is a remarkable increase from 24 apartments in Q1 2025. This shift indicates a realignment in operations and a strategic focus on optimizing their housing portfolio.

The CEO, Reima Rytsölä, expressed optimism regarding the company’s strategic direction, stating that while revenue and net rental income have decreased primarily due to the sale of a large portfolio, the company benefited from a like-for-like basis comparison that showed positive results in core operations. The Funds From Operations (FFO) also saw a decline by 8.6%, totaling EUR 21.2 million.

Strategic Growth and Future Outlook

Looking forward, Lumo Homes maintains its forecast for 2026, estimating total revenue between EUR 484 to 497 million, with projected FFO ranging from EUR 147 to 157 million, excluding non-recurring costs. The anticipated growth is based on strategic acquisitions and an efficient operational approach. Recently, the acquisition of 4,761 apartments from Varma signifies a strategic pivot towards growth and potentially enhances the company’s market position. The immediate tenancy of these newly acquired apartments exceeded expectations, indicating strong demand and effective management.

The composition of Lumo’s portfolio concentrates mainly in growth centers, which the management believes will yield positive returns despite the challenges faced by the overall market conditions.

In conclusion, while Lumo Homes plc is navigating through complex financial terrains in Q1 2026, its proactive strategies in acquisitions and strong occupancy rates illustrate a promising capability to adapt to and overcome challenges. The management remains focused on enhancing customer experiences and operational efficiency, in line with their commitment to improving shareholder value and ensuring sustainable growth.

Contact Information

For further details, stakeholders are encouraged to contact:

• - Niina Saarto, Director, Treasury Investor Relations, +358 20 508 3283, [email protected]
• - Erik Hjelt, CFO, +358 20 508 3225, [email protected]

A webcast discussing this report is available at Lumo's Investor Relations.