OVARONasdaq HelsinkiReal Estate ServicesIFRS · EUR

Ovaro Kiinteistösijoitus Oyj

Ovaro Kiinteistösijoitus Oyj is a Finnish real estate investment company focusing on residential and commercial properties. The company operates primarily in Jyväskylä, Tampere, and Kuopio, with a significant presence in these cities. Ovaro employs a 'buy-develop-sell' strategy, enhancing property value through development projects like the Kukkula development in Jyväskylä. The company aims to optimize its portfolio by selling older residential properties and investing in new development opportunities.

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Revenue4.3m EUR
−18.5 %y/y
Operating profit (EBIT)4.9m EUR
+1,156.7 %y/y
EBIT margin115.1%
+124.0 ppy/y
Net income1.5m EUR
+150.5 %y/y
Free cash flow-6.7m EUR

Fiscal year 2025 · change from previous year

Development 2020–2025

-15-10-50510m EUR2020: 9.7 m EUR2020: EBIT -12 m EUR20202021: 8.2 m EUR2021: EBIT -12 m EUR20212022: 5.4 m EUR2022: EBIT 0.64 m EUR20222023: 5.6 m EUR2023: EBIT 3.1 m EUR20232024: 5.3 m EUR2024: EBIT -0.47 m EUR20242025: 4.3 m EUR2025: EBIT 4.9 m EUR20254.34.9
RevenueOperating profit (EBIT)
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Business

Share of revenue
Residential Properties30 %

Investment in residential units for rental income and capital appreciation.

Commercial Properties50 %

Investment in office and retail spaces for rental income.

Property Development20 %

Development of new properties to enhance portfolio value.

Customers

Ovaro Kiinteistösijoitus serves a diverse range of customers, primarily focusing on tenants and property buyers. The company targets residential tenants looking for quality living spaces in key Finnish cities. Commercial tenants, including businesses and retailers, seek Ovaro's properties for strategic locations and modern facilities. The company also engages with investors interested in real estate assets and development projects. Ovaro's customer base is characterized by a mix of long-term lease agreements and property sales.

Residential Tenants

Rent quality apartments in urban areas.

Commercial Tenants

Lease office and retail spaces for business operations.

Real Estate Investors

Invest in property assets and development projects.

Strategy

Ovaro Kiinteistösijoitus is focused on enhancing its property portfolio through a 'buy-develop-sell' strategy. The company is investing in significant development projects like the Kukkula development in Jyväskylä. Strategic priorities include optimizing asset allocation, increasing property value, and improving profitability. Ovaro aims to strengthen its financial position by divesting older properties and reinvesting in high-potential developments.

Development of Kukkula projectLong term

To enhance property value and portfolio quality

Divestment of older propertiesMedium term

To optimize asset allocation and improve financial position

Geography

Ovaro Kiinteistösijoitus's operations are concentrated in Finland, with major investments in Jyväskylä, Tampere, and Kuopio. These cities account for over 90% of the company's property portfolio by value. The strategic focus on these regions allows Ovaro to leverage local market dynamics and development opportunities. The company's geographic concentration also exposes it to regional economic conditions and real estate market fluctuations.

Risks

Ovaro Kiinteistösijoitus faces several risks, including financial market volatility affecting property valuations and financing conditions. The company's geographic concentration exposes it to regional economic fluctuations. Rising maintenance and construction costs could impact profitability. Regulatory changes in real estate and financial markets also pose potential risks. The company's strategy to divest older properties and invest in new developments carries execution risks.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Financial market volatility1Geographic concentration2Rising maintenance and construction costs3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Financial market volatilityImpact: CriticalLikelihood: Medium

    Affects property valuations and financing conditions

  2. Geographic concentrationImpact: HighLikelihood: Low

    Exposes to regional economic fluctuations

  3. Rising maintenance and construction costsImpact: MediumLikelihood: Medium

    Could impact profitability

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Accounting

Judgemental items
Fair value accounting

Causes fluctuations in reported earnings

Impact: Significant on income statement

IFRS standards

Ensure transparency and consistency

Impact: Consistency in financial reporting

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Last updated: 24/09/2026