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    VNA   DE000A1ML7J1

VONOVIA SE

(VNA)
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Real-time Estimate Cboe Europe  -  11:00 2022-09-27 am EDT
21.41 EUR   -0.21%
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Vonovia 1st Half Revenue Rose, Confirms 2022 Guidance

08/03/2022 | 01:53am EDT

By Maitane Sardon


Vonovia SE on Wednesday reported an increase in revenue in the first half of the year and confirmed its outlook for 2022.

The German real-estate company said net profit fell to 1.64 billion euros ($1.67 billion) in the first six months of the year from EUR2.61 billion in the year prior. In the second quarter, Vonovia's net profit was EUR1.70 billion, down from EUR2.37 billion.

Adjusted earnings before interest, taxes, depreciation and amortization came in at EUR1.40 billion for the first half, compared with EUR1.02 billion the same period of the previo year, it said.

Total segment revenue for the period was EUR3.11 billion, compared with EUR2.31 billion.

Vonovia said the increase in revenue was mainly due to the fiscal consolidation of Deutsche Wohnen, the German landlord it had acquired in 2021.

Group funds from operations --the company's key figure for operational profitability, also called FFO-- was EUR1.06 billion compared with EUR764.7 million.

The company confirmed its previously given outlook. Vonovia had said it is targeting total revenue of between EUR6.2 billion and EUR6.4 billion this year. It sees group FFO of between EUR2.0 billion and EUR2.1 billion.


Write to Maitane Sardon at maitane.sardon@wsj.com


(END) Dow Jones Newswires

08-03-22 0152ET

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE WOHNEN SE -1.19% 18.22 Delayed Quote.-50.14%
VONOVIA SE -0.37% 21.36 Delayed Quote.-55.77%
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Financials
Sales 2022 3 149 M 3 038 M 3 038 M
Net income 2022 3 348 M 3 230 M 3 230 M
Net Debt 2022 43 735 M 42 191 M 42 191 M
P/E ratio 2022 4,95x
Yield 2022 8,34%
Capitalization 17 071 M 16 468 M 16 468 M
EV / Sales 2022 19,3x
EV / Sales 2023 18,4x
Nbr of Employees 15 845
Free-Float 98,5%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 21,45 €
Average target price 40,23 €
Spread / Average Target 87,5%
EPS Revisions
Managers and Directors
Rolf Buch Chairman-Management Board & CEO
Philip Grosse Chief Financial Officer
Jürgen Fitschen Chairman-Supervisory Board
Marcel Kleifeld Head-Human Resources & Technical Services
Hildegard Müller Member-Supervisory Board
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