Orava Asuntorahasto Oyj - Inside information

ORAVA RESIDENTIAL REIT SPECIFIES ITS FINANCIAL RESULT ESTIMATE

Orava Residential REIT plc

STOCK EXCHANGE RELEASE 3 FEBRUARY 2017 AT 5:00 P.M.



ORAVA RESIDENTIAL REIT SPECIFIES ITS FINANCIAL RESULT ESTIMATE



On 30 December 2016, Orava Residential REIT announced that the combined impact
of the housing acquisitions at the end of December and the change in the fair
value of the investment properties in October-November on the profit for the
fourth quarter amounted to approximately EUR +0.2 million. The change in the
fair value of previously acquired investment properties was estimated to be
slightly negative in December. Moreover, in its interim report for the third
quarter published on 17 November 2016, the company estimated that it is
reasonable unlikely to come close to its targeted total return of 10 per cent
on shareholders’ equity on 2016. 

The company’s specified estimate of the result for the fourth quarter is
approximately EUR -0.4 million and for the financial year approximately EUR
+1.6 million. The result is explained mainly by the negative change in the fair
value of the investment properties in the fourth quarter and by the increase in
maintenance and repair costs primarily due to seasonal variation. 

Based on the parent company’s result, the distributable funds are estimated to
amount to approximately EUR +1.2 million, whereby the estimated total dividend
payable in 2017 will be no more than EUR 0.12 per share. The difference in the
results of the Group and the parent company is mainly due to the differences in
sectioning of financial costs in international and Finnish accounting
regulations. 

Orava Residential REIT will release its financial statements bulletin on 1
March 2017. 



Orava Residential REIT plc



Board of Directors



Additional information

Pekka Peiponen, CEO, telephone +358 (0)10 420 3104

Veli-Matti Salmenkylä, CFO and administrative director, telephone +358 (0)10
420 3102 



www.oravaresidentialreit.com