News conference on Kojamo’s Financial Statements Release 2025 on 11 February 2026

Kojamo plc will publish its Financial Statements Release 2025, the Report of the Board of Directors, Corporate Governance Statement and Remuneration Report on 11 February 2026 at ~8:00 a.m. EET, followed by a news conference and webcast for investors, analysts and media at 9:30 a.m. EET hosted by CEO Reima Rytsölä and CFO Erik Hjelt at its Helsinki headquarters. The announcement provides logistics for the results event and access details (webcast and teleconference registration) but contains no financial figures or guidance; investors should monitor the webcast for the actual earnings detail. Kojamo is Finland’s largest private residential real estate company and is listed on Nasdaq Helsinki.

Analysis

Market structure: The scheduled Q4 / FY2025 release and investor webcast (11 Feb 2026, ~08:00 EET release, 09:30 EET conference) is a discrete liquidity/catalyst event for Kojamo (Nasdaq Helsinki: KOJAMO) and Finnish residential REIT peers. A positive beat on FFO/EPS or raised guidance could re-rate Kojamo by 5–10% intra‑day (typical for Nordic property reports); a miss or weak guidance would compress valuation yields and widen credit spreads for similar balance-sheet profiles. Landlords with CPI-linked rents and low LTVs win; leveraged developers and short-duration debt issuers lose if refinancing costs jump.

Risk assessment: Immediate tail risks include a surprise occupancy drop (>150–200 bps) or LTV >55% disclosure triggering covenant risk and a >100 bps spread widening on corporate bonds. Short-term (weeks) sensitivity to Finnish/Eurozone real rates and bank funding conditions dominates; long-term (quarters/years) risks are structural: urban rent demand, regulatory tenant protections, and project delivery execution. Hidden dependencies: earnings sensitive to indexation lags, construction capex timing and capital markets access; catalysts include guidance on development completions, LTV guidance and sustainability-linked financing metrics.

Trade implications: From a trading-book perspective, event-driven sizing of 1–3% position in KOJAMO is warranted with tight triggers: buy on FFO beat >=3% and guidance upgrade, sell/hedge on miss >=3% or LTV rise >=300 bps. Options: buy a short-dated (1–4 week) ATM straddle sized to 0.5% portfolio to capture volatility around the release, or buy 3-month OTM puts if LTV >50% or interest coverage <2x post-release. Sector tilt: underweight Finnish property developers/construction suppliers and overweight high-quality, CPI-indexed residential landlords with LTV <40%.

Contrarian angles: Consensus underappreciates refinancing cliff risk for developers; if Kojamo demonstrates access to cheaper term funding or tighter LTV guidance, the upside may be underpriced — a gap trade of 5–8% is plausible. Conversely, if the market discounts a small operational miss, volatility could overreact; opportunistic add-backs on >7% selloffs post-release have attractive asymmetry. Historical parallel: Nordic REITs often gap 6–10% on clarity about financing — use clear numeric triggers rather than narrative guidance.

Key Decisions for Investors

• Establish a 2% long position in Kojamo (Nasdaq Helsinki: KOJAMO) ahead of the 11 Feb 2026 release conditional: increase to 3% only if Q4/2025 FFO per share beats consensus by >=3% and management raises FY26 rental growth guidance; trim/exit if price falls >7% or LTV disclosed >50%.
• Purchase a short-dated (1–4 week) ATM straddle on KOJAMO equal to 0.5% of portfolio to capture earnings volatility around the 11 Feb event; unwind within 1 week after the webcast or if implied vol > realized vol by 30% post-print.
• If Kojamo reports LTV >50%, interest coverage <2x, or like-for-like rental growth <1%, enter a tactical 1–2% short of KOJAMO and hedge with 3‑month OTM puts (delta ~0.25); set stop-loss at +6% from short entry price.
• Reallocate 1–3% from Finnish property developers/construction names into high-quality, CPI-indexed residential landlords (target LTV <40%, dividend yield premium <150 bps to 5y swaps) over the next 4–12 weeks, prioritizing balance-sheet strength and fixed-rate debt maturity profiles.