Deutsche Wohnen:Quarterly Results/2023 Q3: Difference between revisions

Deutsche Wohnen:Quarterly Results/2023 Q3 (view source)

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+== Vonovia Results ==
+Vonovia reported its Q2 2023 earnings results on November 3<ref>https://www.eqs-news.com/news/corporate/stable-in-a-challenging-market-environment-through-growth-in-core-business-and-successful-sales-news-with-additional-features/1931443</ref>. Here is a summary of its results;
+* Operating results have been stable; revenue was € 1.495 billion(+1.1% y/y), adjusted EBITDA was € 681.2 million(+0.6% y/y), Group FFO was € 502.2 million(-0.3%), NAV was €40,460.1 million(-18.7% y/y and -5.4% Q/Q) and vacancy rate was unchanged from last year at 2.2%.
+* Portfolio value now stands at €88.2 billion after declining by €6.1 billion in H1 and €2.7 billion in Q2 2023.
+* LTV stands at 46.8%(Q1 2023: 46.6%), still above its target of lower end of 40-45%.
+* Core business EBITDA rose 10.3% y/y to €618.5 million due to a 3.5% increase in organic rent, Deutsche Wohnen synergies and new construction and modernization growth.
+* Vonovia confirmed its 2023 outlook and pointed out that insights from Value Marktdaten, BNP Paribas, and ifo institute indicate a positive but cautious outlook for the real estate industry.
+See Google sheet [https://docs.google.com/spreadsheets/d/1WszlZ36Yy_7hmpzcwaDBHvO_SnFq5W78koXVCXW6tJo/edit#gid=954746996 calculations.]