Lumo Homes reports revenue growth in second quarter 2026

Helsinki-based Lumo Homes plc announced a 8.1% increase in total revenue to €125 million for the second quarter of 2026, compared to €115.6 million in the same period last year. Net rental income grew 10.7% to €91.7 million, making up 73.4% of revenue, up from 71.7% in the previous quarter. Funds From Operations rose 12.4% to €43.6 million, up from €38.8 million.

For the first half of the year, revenue grew 2.6% to €235.8 million, while net rental income increased 4.1% to €151.6 million, and Funds From Operations grew 4.5% to €64.8 million.

Including a €34.1 million result from valuing investment properties at fair value, the company reported a result before taxes of €83.6 million for the second quarter, a stark contrast to a loss of €12.7 million in the prior year. The 688.2% gross investments amounting to €860.3 million in the second quarter exceeded total revenue.

Lumo Homes completed an April acquisition, adding 4,761 apartments to its portfolio. By the end of the review period, the company owned 43,615 rental apartments, an increase from 40,946 a year earlier.

The financial occupancy rate improved to 95.0% in the second quarter, up from 93.6% in the previous period. At the end of June, the fair value of investment properties stood at €8.5 billion. Lumo Homes revised its 2026 outlook, estimating total revenue between €488-493 million, a narrowing from the previous range of €484-497 million. FFO excluding non-recurring costs is now projected to reach €147-152 million, slightly revised from the previous range of €147-157 million.