Deutsche Wohen:Quarterly Results/2022 Q4
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Results[1]
Deutsche Wohnen 2022 Adjusted EBITDA declined 3.4% to €701.8 million from €726.8 million in 2021 but above the management guidance of EUR 640 million(-11.9%).
Rental revenue declined 8.1% year-on-year to €767.1 million due to smaller residential portfolio compared to the prior year(it sold some properties to the city of Berlin).
Its LTV dropped to 28.1% from 28.4% in 2021.
The company said it will propose a dividend of €0.04 per share for 2022.
"Deutsche Wohnen expects a slight decline of the Adjusted EBITDA Total as well as the Group FFO. Furthermore, an increase in the company value and a small increase in the NAV per share are expected, disregarding any further market related changes in value. " The earnings press release noted
| Key Items | 2022 | Y/Y growth |
|---|---|---|
| Adjusted EBITDA | €701.8 m | -3.4% |
| FFO 1 | € 517.9m | -6.4% |
| LTV | 28.1% | -1% |
| Rental revenue | €767.1 m | -8.1% |
Expectations
Management Guidance[2]
| Key Items | 2022 | Y/Y growth |
|---|---|---|
| Adjusted EBITDA | €640 m | -11.9% |
| FF0 1 | € 487.7m | -11.5% |