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Guidance for the third quarter of 2020

Published on July 28, 2020

In the third quarter, consumer apartment completions are expected to remain at a low level in Finland and the CEE countries. In Russia, housing sales and operative performance are expected to remain solid.

The Business premises segment is expected to be profitable in the third quarter, and in the Infrastructure projects segment, operative performance is expected to be on a good level. In the Partnership properties segment, the Mall of Tripla customer behaviour is estimated to continue to normalise.

The full-year outlook is clouded by uncertainty in consumer sales and apartment completion timings at the end of the year due to the coronavirus pandemic. Significant fluctuation is expected to take place between the quarters due to typical seasonality, closing of sales of business premises projects, as well as sales of apartments and completion of residential projects. As in 2019, the last quarter of the year is expected to be the strongest.


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