Lumo Homes posts 12% Q3 revenue growth as occupancy climbs to 95.5%

Lumo Homes plc reported third-quarter revenue of EUR 127.3 million, up 12.0 per cent from EUR 113.6 million a year earlier, and lifted its financial occupancy rate to 95.5 per cent. The Finnish landlord published the figures in its interim report for January to September 2026.

Lumo Homes' Third-Quarter Rental Income

Net rental income for July to September rose 11.5 per cent to EUR 95.9 million and represented 75.3 per cent of revenue. Funds From Operations increased 4.7 per cent to EUR 46.1 million. The result before taxes was EUR -87.7 million, against EUR 32.8 million a year earlier, including EUR -139.6 million in net result on the valuation of investment properties at fair value. Earnings per share were EUR -0.27.

For January to September, revenue rose 5.7 per cent to EUR 363.1 million and FFO increased 4.6 per cent to EUR 110.9 million. The fair value of investment properties was EUR 8.3 billion at the end of the review period. Lumo Homes owned 43,489 rental apartments, up from 39,001 a year earlier, after completing 119 apartments, acquiring 4,761 and selling 399.

CEO Reima Rytsölä said growth came from the residential portfolio acquired in April and from the occupancy rate. "The occupancy rate of the portfolio acquired in April has developed exceptionally well," he said, adding that it stood at 96.8 per cent at the end of September. Rytsölä said Moody's affirmed the company's Baa2 credit rating with a stable outlook in September.

Lumo Homes' Financing Record

Lumo Homes is Finland's largest private residential landlord, according to akta.pro company records, with a portfolio concentrated in the Helsinki, Tampere and Turku metropolitan areas. The same records list a EUR 500 million backstop financing agreement signed in June 2026 to provide committed liquidity capacity following the Varma acquisition, and a EUR 300 million bond priced in May 2026 under the EMTN programme to refinance debt and fund growth.

Lumo Homes' Run-Up To The Quarter

In August 2026, Investing.com reported that Lumo Homes' first-half results were driven by the integration of a €900 million acquisition of 4,761 apartments from Varma Mutual Pension Insurance Company. On September 10, 2026, Lumo Homes and SMBC signed an amendment to their unsecured financing, increasing the total to EUR 200 million from EUR 150 million, news.cision.com reported. On September 30, 2026, The future of trading reported that Lumo Homes won EPRA Gold for its 2025 sustainability reporting, a third consecutive year at the top level.

Lumo Homes' 2026 Outlook

Lumo Homes kept its 2026 outlook unchanged, estimating total revenue of EUR 488–493 million and FFO of EUR 147–152 million excluding non-recurring costs. The company said it refinanced a EUR 125 million syndicated loan after the review period, ahead of its maturity in autumn 2027.