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Deutsche Wohnen:Quarterly Results/2023 Q2: Difference between revisions
Deutsche Wohnen:Quarterly Results/2023 Q2 (view source)
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Return to: [[Deutsche Wohnen]] | [[Earnings Season]] | Return to: [[Deutsche Wohnen]] | [[Earnings Season]] | ||
See also: [https://forum.investmentwiki.org/t/q2-2023-deutshe-wohnen-earnings/147 Discussions | See also: [https://forum.investmentwiki.org/t/q2-2023-deutshe-wohnen-earnings/147 Discussions] | ||
== Preliminary results == | == Preliminary results == | ||
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* NAV per share declined by 19% to 46.56 in H1 due to revaluation of the portfolio<ref name=":0" />. | * NAV per share declined by 19% to 46.56 in H1 due to revaluation of the portfolio<ref name=":0" />. | ||
* Its FFO per share was close to the previous year's level of € 0.75 per share<ref name=":0" />. | * Its FFO per share was close to the previous year's level of € 0.75 per share<ref name=":0" />. | ||
== Vonovia Q2 2023 results == | |||
=== Insights touching on Deutsche Wohnen === | |||
* Vonovia said that Deutsche Wohnen's efforts to sell its nursing home segment now include "more granular sale" as an option and that they remain supportive at acceptable deal terms<ref>https://investoren.vonovia.de/en/news-and-publications/presentations/</ref>. | |||
=== Business performance and related insights === | |||
* Total segment revenue grew by 1.1% y/y to € 1.495 billion<ref>https://www.eqs-news.com/news/corporate/vonovia-se-strong-rental-business-in-q2-2023-refinancing-already-covered-until-well-into-2024/1873117 | |||
https://investoren.vonovia.de/en/news-and-publications/presentations/</ref>. | |||
* Profit declined to a 2 billion euro loss versus a profit of 1.8 billion euros in Q2 2022. | |||
* Its adjusted EBITDA rose 0.6% y/y to 681.2 euros. | |||
* Its portfolio valuation declined by €2.7 billion in Q2, bringing the total value decline to -€6.1 billion. | |||
* Its LTV stands at 46.8%(Q1 2023: 46.6%), still above its target of lower end of 40-45%. | |||
* FFO per share fell 2.6% y/y to 0.62 euros. | |||
* Vacancy rate is at 2.2%. | |||
* Organic rent increase was 3.5%. | |||
* Vonovia said that the development of its key metrics exceeded analysts estimates. | |||
* Vonovia confirmed its revenue, EBITDA and Group FFO guidance for financial year 2023. | |||
* Preliminary results from Hengeler Mueller and Deloitte investigation establishes that the financial impact is not material. “It’s a major achievement that we performed so well in this challenging market environment, and we’re equally positive about the further development of the year,” CEO Rolf Buch said. | |||
== References == | == References == | ||