Positive contribution: Vonovia’s share is up: thanks to Deutsche Wohnen, Vonovia is making significant operating gains | news

The Group benefited from the positive contribution of the newly acquired majority in the Berlin residential real estate company Deutsche Wohnen. The DAX group was also able to significantly increase the FFO indicator, which is relevant to the dividend. There is a small loss after taxes and third parties, mainly due to a write-down of the portfolio value.

Vonovia SE confirmed full-year forecast of sales, FFO and adjusted earnings before interest, taxes, write-downs and depreciation (total adjusted EBITDA). These are expected to increase by at least 20 percent over the previous year.

In the January-March period, the residential real estate group generated total adjusted EBITDA of nearly € 730 million. Deutsche Wohnen contributed 172.3 million euros to this. Including Deutsche Wohnen, the increase over the previous year was around 44 per cent, excluding Deutsche Wohnen by 10 per cent.

The most important indicator FFO (operating funds) rose to 564 million euros from 391 million; The FFO per share was EUR 0.73 after EUR 0.65. Deutsche Wohnen contributed 143.5 million to FFO.

Net of taxes and third parties, the loss was 64.7 million euros, after a profit of 234.7 million in the previous year. Total sales rose to € 1.633 billion from € 1.146 billion.

For the full year, Adjusted EBITDA is expected to continue to stand between € 2.75 and € 2.85 billion. In terms of FFO, the group wants to continue reaching € 2.0-2.1 billion. Vonovia sees a total turnover of between 6.2 and 6.4 billion euros.

Vonovia’s share temporarily increased by 3.23% to EUR 36.39 in XETRA trading.


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