News

Corporate News

Deutsche Wohnen with unaudited annual earnings of EUR 919 million

Berlin, 18 March 2022. In connection with the presentation of the annual earnings by the majority shareholder Vonovia SE, Deutsche Wohnen SE is publishing the following selected key financial data for the financial year 2021. The figures are unaudited and have not yet been certified.

The financial year 2021 was characterised by the acquisition of the majority of shares by Vonovia SE. During this time Deutsche Wohnen continued to develop its business operations successfully. The goals it had set itself were achieved and in many areas of the business exceeded.

In the financial year 2021, Deutsche Wohnen SE generated a stable gross rental income of EUR 843.6 million despite the fact that it had reduced its property holdings due to disposals. The adjusted EBITDA (without disposals) increased by 1.6% from EUR 704.8 million to EUR 715.8 million, whilst FFO I, at EUR 553.6 million (+2.4%) or EUR 1.54 per share, was in line with the company's forecast. Annual earnings fell to EUR 919.0 million particularly because of lower earnings from disposals and one-off, transaction-related expenses. Over the entire financial year 2021, the value of the portfolio increased by a total of EUR 1,862.4 million. This means that the valuation result was at a similar level to that of 2020 (EUR 1,855.1 million). Particularly the revaluation of the portfolio led to an increase in the Net Asset Value (NAV) to EUR 21,588.7 million. This corresponds to a NAV per share of EUR 54.39 (+4.7% compared to the previous year).

Publication of the consolidated annual financial statements for the financial year 2021 is planned for 31^st March 2022.

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 at 31 December 2021, the portfolio comprised a total of around 154,000 units, of which 151,000 were residential and around 3,000 commercial.

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.