Deutsche Wohnen SE: Stable Performance in the first quarter of 2023
EQS-News: Deutsche Wohnen SE / Key word(s): Quarterly / Interim Statement
Interim Results January to March 2023
Group FFO of €144.8 million (€0.36 per share)
Olaf Weber, CFO of Deutsche Wohnen commented: “Deutsche Wohnen provided a solid performance in a still challenging market environment in the first quarter of 2023.
The segment revenue Rental was €194.8 million (+2.6%). The in-place rent per square meter was €7.51 (+2.3%). The vacancy rate remained at a very low level of 1.9%.
Other relevant KPIs also saw a stable development. The Group FFO was €144.8 million, which was at prior-year level. On a per-share basis, the Group FFO came to €0.36, unchanged the prior-year period. The NAV (formerly EPRA NTA) declined by 5.6% since year-end 2022 to €19,461.1 million or €49.03 per share. This decline was largely driven by the result from the fair value measurement of investment properties of -€1,103.5 million. The LTV was stable at 28.1%.
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 2023, the portfolio comprised a total of around 140,000 residential units.
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.
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08.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
Deutsche Wohnen SE
Mecklenburgische Straße 57
+49 (0)30 89786-5413
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Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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