Here are Frans’s quick comments on this morning’s results. ![]()
Asuntosalkku’s Q3 report was roughly in line with our expectations regarding the steadily progressing rental business and the gradually improving earnings turnaround. The company’s rental income developed as steadily as expected, although the economic occupancy rate fell slightly short of our expectations compared to the very strong comparison period. The Tallinn residential property sales at prices clearly above balance sheet values, which are at the heart of the investment story, as well as share buybacks at a discount to book value, continued as expected. The company reiterated its full-year guidance, and we see little need for material forecast changes. We have prepared our forecast model on a semi-annual basis, and this light review serves mainly as a checkpoint for our forecasts.