Financial and business development in 2013
VVO's turnover growth and profit performance remained stable and strong. Occupancy rate was high, and a significant number of apartments were under construction, 1,020 at year end. Along with new construction, our investment in the future was reflected in extensive repairs.
- Reported turnover was EUR 346.6 (335.4) million, with growth attributed to the revenue of rental business.
- Profit before taxes amounted to EUR 75.9 (62.5) million. Profit performance was particularly strong in the VVO Non-subsidised business, based on the management of maintenance costs, low resident turnover, good occupancy rate and low financing costs.
- Financial occupancy rate remained high at 98.5 (98.7) per cent.
- Resident turnover decreased slightly compared to the previous year, to 25.4 (25.8) per cent.
- A total of 1,020 (551) rental homes were under construction at year end.
- At 31 December 2013, the Group owned 40,194 (39,946) rental apartments.
- Fair value came to EUR 3.4 billion.
- The Group’s gross investment in the period amounted to EUR 223.2 (74.8) million.
|Profit before appropriations and taxes||41.0||57.5||55.8||62.5||75.9|
Financial occupancy rate
|Financial occupancy rate||98.3||98.1||98.3||97.9||97.9|
|Balance sheet value||1.9||1.8||1.9||1.9||2.0|
Cash flows from investment activities
|Cash flows from investment activities||106.3||119.7||121.5||74.8||208.2|
Earnings per share
|VVO Non-Subsidided, profit (distributable)||2.4||3.4||3.3||4.27||6.98|
|VVO State-Subsidided, profit||1.51||2.05||2.74||1.92||3.09|
Dividend per share
|Dividend per share||1.2||1.5||1.6||2.0||2.2|
Rental housing stock
|Market rent 24,799||24,799|
|Cost-price rent 15,395||15,395|