6,294
edits
Deutsche Wohnen:Quarterly Results/2023 Q2: Difference between revisions
Deutsche Wohnen:Quarterly Results/2023 Q2 (view source)
Revision as of 11:19, 4 August 2023
, 4 August 2023→Business performance and related insights
| Line 20: | Line 20: | ||
=== Business performance and related insights === | === 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 | ==== Operating Business ==== | ||
* Total segment revenue grew by 1.1% y/y to € 1.495 billion<ref name=":1">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>. | 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. | * 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 adjusted EBITDA rose 0.6% y/y to 681.2 euros. | ||
* | * Group FFO fell 0.3% y/y to 502.2 million euros. | ||
* FFO per share fell 2.6% y/y to 0.62 euros. | |||
* Its LTV stands at 46.8%(Q1 2023: 46.6%), still above its target of lower end of 40-45%. | * Its LTV stands at 46.8%(Q1 2023: 46.6%), still above its target of lower end of 40-45%. | ||
* FFO | * Vonovia confirmed its revenue, EBITDA and Group FFO guidance for financial year 2023. | ||
* Vacancy rate is at 2.2%. | * Vonovia said that the development of its key metrics exceeded analysts estimates. | ||
==== Rental segment ==== | |||
* Vacancy rate is at 2.2%<ref name=":1" />. | |||
* Organic rent increase was 3.5%. | * Organic rent increase was 3.5%. | ||
* 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. | ==== Portfolio Revaluation ==== | ||
* Its portfolio valuation declined by €2.7 billion in Q2, bringing the total value decline to -€6.1 billion in H1<ref name=":1" />. | |||
==== Hengeler Mueller and Deloitte investigation ==== | |||
* 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<ref>Source: Analyst & Investor Presentation Half-Year Report 2023</ref>. | |||
== References == | == References == | ||