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News

05/03/2024

Deutsche Wohnen: Stable Performance in the first three months of 2024

Corporate News: Deutsche Wohnen: Stable Performance in the first three months of 2024

Deutsche Wohnen SE / Key word(s): Quarterly / Interim Statement
Deutsche Wohnen: Stable Performance in the first three months of 2024

03.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Interim Results January to March 2024

Deutsche Wohnen: Stable Performance in the first three months of 2024

  • Adj. EBT of €141.3 million (€0.36 per share)
  • NAV at €17,010.4 million (€42.85 per share)
  • Vacancy rate remains at very low level

Berlin, May 3, 2024. In a challenging environment for the real estate industry, Deutsche Wohnen SE delivered a stable operating performance in the first three months of 2024.

The Adjusted EBITDA Rental was €160.4 million (+2.5%). The in-place rent per square meter was €7.76 (+3.3%). The vacancy rate remained at a very low level of 1.6%.

Other relevant KPIs also saw a stable development. The Adjusted EBT was €141.3 million, which was slightly above the prior-year level. On a per-share basis, the Adjusted EBT came to €0.36. The NAV (formerly EPRA NTA) was at €17,010.4 million or €42.85 per share. The LTV was at 30.0%.

Key numbers

Financial KPIs 3M 2024 3M 2023 Change
Adjusted EBITDA Rental € million 160.4 156.5 +2.5%
Adjusted EBITDA Value-add € million 3.1 2.2 +40.9%
Adjusted EBITDA Recurring Sales € million 0.1 1.3 -92.3%
Adjusted EBITDA Development € million -0.4 -0.4 -
Adjusted EBITDA Total (continuing operations) € million 163.2 159.6 +2.3%
Adjusted EBT (continuing operations) € million 141.3 136.8 +3.3%
    Attributable to minorities € million 2.6 4.0 -35.0%
Adjusted EBT per share 0.36 0.34 +5.9%
Operating Free Cash-Flow (OFCF) € million 191.7 126.7 +51.3%
Profit for the period € million 99.3 -667.9 -
         
Balance sheet   Mar. 31, 2024 Dec. 31, 2023 Change
Investment properties € million 23,112.4 23,021.5 +0.4%
Equity € million 14,095.1 13,998.2 +0.7%
LTV % 30.0 30.4 -0.4pp
NAV € million 17,010.4 16,976.6 +0.2%
NAV per share 42.85 42.77 +0.2%
         
Non-financial KPIs   Mar. 31, 2024 Mar. 31, 2023 Change
Number of owned residential units   139,940 140,078 -0.1%
In-place rent (residential)  €/sqm 7.76 7.51 +3.3%
Vacancy rate (residential) % 1.6 1.9 -0.3pp

About Deutsche Wohnen

Deutsche Wohnen is one of the leading publicly listed property companies in Europe and is part of the Vonovia Group. The business focus of the company is on managing its own portfolio of residential properties in dynamic metropolitan regions and conurbations in Germany. Deutsche Wohnen sees itself as having both a social responsibility and a duty to maintain and newly develop good-quality and affordable housing in vibrant residential neighbourhoods. As of 31 March 2024, the portfolio comprised a total of around 140,000 residential units.

Important note

This publication is neither an offer to sell nor a solicitation to buy securities.

To the extent that this document contains forward-looking statements, these are not facts and are recognisable by such words as ‘will’, ‘expect’, ‘believe’, ‘estimate’, ‘intend’, ‘endeavour’, ‘assume’ and similar expressions. These statements express the intentions, opinions or current expectations and assumptions of Deutsche Wohnen and the individuals acting in concert with it. The forward-looking statements are based on current plans, estimates and forecasts that Deutsche Wohnen and the individuals acting in concert with it have made to the best of their knowledge, but do not make any claims as to their future accuracy. Forward-looking statements are subject to risks and uncertainties that are generally difficult to predict and are usually not within the control of Deutsche Wohnen or the individuals acting in concert with it. It should be remembered that the actual results or consequences may differ considerably from those mentioned or contained in the forward-looking statements.

Contact:

Phone +49 (0)30 897 86-5413
ir@deutsche-wohnen.com


03.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Deutsche Wohnen SE
Mecklenburgische Straße 57
14197 Berlin
Germany
Phone: +49 (0)30 89786-5413
Fax: +49 (0)30 89786-5419
E-mail: ir@deutsche-wohnen.com
Internet: https://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6
WKN: A0HN5C
Indices: SDAX
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1894459

 
End of News EQS News Service

1894459  03.05.2024 CET/CEST

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