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    VNA   DE000A1ML7J1

VONOVIA SE

(VNA)
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Delayed Xetra  -  11:35 2022-06-29 am EDT
30.59 EUR   -2.39%
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Vonovia Targets Growth in 2022 -- Update

03/18/2022 | 04:37am EDT

By Kim Richters

Vonovia SE on Friday said it is planning to further grow revenue and funds from operations this year after the company acquired rival Deutsche Wohnen SE in 2021.

The German real-estate company said for 2022 it is targeting total segment revenue of between 6.2 billion euros ($6.88 billion) and EUR6.4 billion. It also guides for group funds from operations--the company's key figure for operational profitability also called FFO--between EUR2.0 billion and EUR2.1 billion.

"We're anticipating to increase our turnover, EBITDA and Group FFO by more than 20%," said the company's chief executive officer Rolf Buch in a statement.

In 2021, Vonovia's total segment revenue rose 18.5% to EUR5.18 billion, and funds from operations increased 24% to EUR1.67 billion, the company said.

However, net profit fell to EUR2.64 billion from EUR3.23 billion the year earlier, which was mainly due to depreciations and impairments on portfolio assets.

Vonovia proposed a dividend of EUR1.66 a share for 2021, to be paid out of its funds from operations. "If the increase in shares, caused by the capital increase, is taken into account for the dividend of the previous year as well, this amounts to an increase of EUR0.08," the company said.

At 0919 GMT, shares in Vonovia were trading 1.6% lower at EUR46.56.


Ulrike Dauer contributed to this article.


Write to Kim Richters at kim.richters@wsj.com


(END) Dow Jones Newswires

03-18-22 0536ET

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE WOHNEN SE -1.58% 22.36 Delayed Quote.-39.53%
VONOVIA SE -2.39% 30.59 Delayed Quote.-36.93%
All news about VONOVIA SE
11:28aVONOVIA : UBS reiterates its Buy rating
MD
10:39aVONOVIA : EPRA Sustainability BPR Report 2021
PU
06/20Vonovia Signs Berlin Housing Alliance Pact to Address Rising Prices
MT
06/14VONOVIA SE : Preliminary announcement of the publication of quarterly reports and quarterl..
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06/13Vonovia, VSK Software and the City of Bochum have set the course for a digital review p..
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05/30VONOVIA SE : Notification and public disclosure of transactions by persons
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05/30VONOVIA : Deutsche Bank remains its Buy rating
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05/27VONOVIA : Berenberg maintains a Buy rating
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05/27VONOVIA : Receives a Buy rating from Goldman Sachs
MD
05/26VONOVIA : Receives a Buy rating from JP Morgan
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Analyst Recommendations on VONOVIA SE
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Financials
Sales 2022 3 206 M 3 357 M 3 357 M
Net income 2022 5 058 M 5 296 M 5 296 M
Net Debt 2022 43 857 M 45 919 M 45 919 M
P/E ratio 2022 4,81x
Yield 2022 6,05%
Capitalization 23 756 M 24 873 M 24 873 M
EV / Sales 2022 21,1x
EV / Sales 2023 21,3x
Nbr of Employees 15 900
Free-Float 98,5%
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Mean consensus BUY
Number of Analysts 18
Last Close Price 30,59 €
Average target price 53,05 €
Spread / Average Target 73,4%
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
Klaus Rauscher Independent Member-Supervisory Board
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VINGROUP JOINT STOCK COMPANY-22.82%11 720
DEUTSCHE WOHNEN SE-38.56%9 492
LEG IMMOBILIEN SE-31.00%6 490