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Deutsche Wohnen SE (0OBQ.L)

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  • EQS Group

    Deutsche Wohnen SE: Deutsche Wohnen makes positive start to the financial year 2021

    DGAP-News: Deutsche Wohnen SE / Key word(s): Quarterly / Interim Statement12.05.2021 / 06:59 The issuer is solely responsible for the content of this announcement.Corporate News Interim result as at 31 March 2021Deutsche Wohnen makes positive start to the financial year 2021- Increase in FFO I in comparison to previous year of 8.8% to EUR 154.8 million - EPRA NTA at EUR 52.50 per share - Stable outlook with forecast confirmed - Responsible handling of court judgment on rent freeze - Investors support sustainability strategy Berlin, 12 May 2021. Deutsche Wohnen has completed the first quarter of 2021 with its key figures having developed positively. The decision of the Federal Constitutional Court has put an end to the legal uncertainty on Berlin's residential property market and has created scope for investment in existing properties and new builds. And for the first time in its history, Deutsche Wohnen issued green corporate bonds.Federal Constitutional Court overturns Berlin's rent freezeOn 15 April, the Federal Constitutional Court published its decision that the law on limiting rents in housing in Berlin, the so-called rent freeze, is unconstitutional. Deutsche Wohnen welcomes this prompt decision by the court because it creates the necessary legal certainty for tenants and landlords. Deutsche Wohnen has stated that no tenants will have to lose their flat because of demands for rent arrears. The payment of instalments over the long term, the deferral of payments, and individual solutions in cases of hardship form the basis of our socially responsible handling of the consequences of this law being overturned.As Michael Zahn, Chief Executive Officer (CEO) of Deutsche Wohnen SE, explains, "The end of the rent freeze should, at the same time, be the beginning of our working together to find long-term solutions to the challenges posed by Berlin's residential property market. So, Deutsche Wohnen was pleased to accept the invitation of the Governing Mayor to take part in a round table discussion about housing and house-building. With our promise to tenants, our coronavirus relief fund or our plan for socially responsible climate protection in the property sector, however, we too have made proposals of our own for a fair and sustainable residential property market."Deutsche Wohnen supports decision on Berlin's table of representative rentsFollowing the decision of the Federal Constitutional Court, the Berlin Senate has decided to update its rental table in line with the consumer price index.Lars Urbansky, Chief Operating Officer (COO) of Deutsche Wohnen: "We support this decision because it will give tenants reliability and predictability concerning the rent they have to pay. An index-linked rent can also be a helpful approach to achieving transparent and consistent nationwide standards."As it has up to now, Deutsche Wohnen will in future check rent levels with reference to the table of representative rents. In doing so, the company will continue to dispense with other comparators that are permissible as a justification for rent adjustments, for example the rents of comparable flats in the locality.And Lars Urbansky goes on to point out, "In response both to the court decision on the rent freeze and the current situation with regard to the corona pandemic, we have also decided not to make any rent increases in the current year."Investors support sustainability strategyIn the first quarter, Deutsche Wohnen issued green bonds for the first time and generated proceeds in the amount of EUR 1 billion.Chief Financial Officer (CFO) Philip Grosse: "Despite the volatile market and interest rate conditions, we succeeded in issuing the bonds to important institutional investors on very attractive conditions. This shows that the company's ambitious climate strategy has the broad backing of investors."In addition, Deutsche Wohnen published its Sustainability Report at the end of April for what is the ninth time now. In the report, the company provides information about the progress it is making in its commitment to sustainability and also sets itself challenging goals for the future.For example, the company plans for its holdings to be climate-neutral by as early as 2040. Building on its work of previous years, Deutsche Wohnen will invest above all in the energy-efficient modernisation of its properties and in the low-carbon generation of heat and electricity. The interlinking of different segments of the energy sector and the use of solar cell systems are just as important as cornerstones of this strategy as climate-friendly new builds, building automation and smart applications for regulating heating.Deutsche Wohnen wants to make this journey towards climate-neutral holdings together with its tenants. Against this background, it would like to reinforce the promise it made to its tenants that no tenant needs to be worried that their flat will become unaffordable in the face of rent adjustments or as a result of refurbishment measures.Last but not least, customer satisfaction is for Deutsche Wohnen one of the most important cornerstones of the company's success. For this reason, a comprehensive tenants' survey will be conducted this year as well. This will help to put together specific measures with regard to customer service and the design of our residential estates.Positive start to the financial yearDeutsche Wohnen has made a positive start to the financial year 2021. In comparison to the previous year, FFO I increased by 8.8% to EUR 154.8 million and by 12.5% per share to EUR 0.45. The Net Asset Value (EPRA NTA - Net Tangible Assets) has risen slightly since the end of 2020 by approximately 1% to EUR 52.50 per share. At 37.3% at the end of March, the Loan-to-Value Ratio (LTR) continued to be comfortably within the target range of 35-40%. On this basis, Deutsche Wohnen is staying with its forecast for the financial year 2021.Overview of business development* Profit and loss statement Q1 2021 Q1 2020 Change Earnings from Residential Property Management EUR m 193.1 186.4 3.6% Earnings from disposals before valuation gains due to disposal EUR m 17.6 4.8 266.7% Earnings from Nursing and Assisted Living EUR m 19.6 20.6 -4.9% EBITDA (adjusted) EUR m 208.6 187.8 11.1% Earnings after taxes EUR m 199.7 125.4 59.3% FFO I EUR m 154.8 142.3 8.8% FFO I per share EUR 0.45 0.40 12.5% Balance sheet 31.03.2021 31.12.2020 Change Investment properties EUR m 28,243.9 28,069.5 0.6% Equity EUR m 14,040.9 13,832.8 1.5% Loan-to-Value ratio (LTV) in % 37.3 37.0 0.3pp EPRA NTA EUR m 18,054.4 17,844.4 1.2% EPRA NTA per share EUR 52.50 51.91 1.1% Non-financial key figures 31.03.2021 31.03.2020 Change Number of residential and commercial units 157,476 164,253 -4.1% In-place rent (residential) EUR /sqm 7.12 6.92 2.9% Vacancy rate (residential) in % 1.6 1.9 -0.3pp *The decision of the Federal Constitutional Court to regard the so-called rent freeze as unconstitutional has already been taken into account in these figures. Deutsche WohnenDeutsche Wohnen is one of the leading publicly listed residential property companies in Europe. 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 March 2021, the portfolio comprised a total of around 157,500 units, of which 154,600 were residential and 2,900 commercial units. Deutsche Wohnen SE is listed in the Deutsche Börse's DAX and is also included in the leading indices EPRA/NAREIT, STOXX Europe 600, GPR 250 and DAX 50 ESG.Important noteThis 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 86-5413Fax +49 (0)30 897 86-5419ir@deutsche-wohnen.com12.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 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: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1195175 End of News DGAP News Service

  • EQS Group

    Deutsche Wohnen SE: Deutsche Wohnen focuses on climate neutrality

    DGAP-News: Deutsche Wohnen SE / Key word(s): Sustainability28.04.2021 / 10:39 The issuer is solely responsible for the content of this announcement.Corporate News Sustainability Report 2020Deutsche Wohnen focuses on climate neutrality- Climate strategy: climate-neutral property stock by 2040- Sustainable building in accordance with Gold standard of German Sustainable Building Council- Issuance of green corporate bonds- Customer satisfaction continues to be highest priorityBerlin, 28 April 2021. Today, Deutsche Wohnen published its Sustainability Report for the reporting year 2020. In this report the company provides information about the progress it is making with its commitment to sustainability and sets itself ambitious goals for the future.Michael Zahn, the CEO of Deutsche Wohnen SE, summarises the situation as follows: "Thanks to our ongoing investment in building shells, building technology and energy-efficient refurbishment work, we have today one of the most climate-friendly portfolios in our sector. Consequently, we have set ourselves the target of achieving climate neutrality in our holdings in less than 20 years. We are involving our tenants in our journey towards this target and are designing all our investments to be socially responsible."Climate-neutral holdings by 2040The success of the climate transition will also be decided in the property sector because currently it is responsible for a third of the country's CO2 emissions. As part of this sector, Deutsche Wohnen is aware of its responsibilities and wants to lead the way with ambitious climate goals. Accordingly, it is planned to make the company's property holdings climate-neutral by as early as 2040. Building on the work it has already done in previous years, Deutsche Wohnen will invest above all in the energy-efficient refurbishments of its buildings and in the low-carbon generation of heat and electricity. To achieve this, it is critically important to deploy solar cell systems and to interlink local heat and hot water generation with efficient combined heat and power (CHP) plants. Equally, it is intended that climate-friendly new builds, building automation and smart applications for regulating heating should contribute to achieving the goal of climate neutrality. By adopting these measures, Deutsche Wohnen will reduce its current CO2 intensity of 33 kg CO2e/m2 to below 12 kg CO2e/m2 by 2040. In so doing, the company will achieve the target corridor for practically climate-neutral holdings which has been defined as a reliable standard by the Initiative Wohnen 2050 (IW.2050), an association of housing companies.Deutsche Wohnen wants to make this journey towards climate-neutral holdings together with its tenants. Against this background, it reinforces the promise it made to its tenants that no tenant needs to be worried that their flat will become unaffordable in the face of rent adjustments or as a result of refurbishment measures. For the company, a further key pillar in its efforts to achieve these climate goals is its "Plan for socially responsible climate protection in the property sector", which was published in summer 2020. The proposal aims to use revenue from the Energy and Climate Fund, which is financed by the CO2 levy, to significantly reduce the modernisation costs that can be passed on to the tenant. This would resolve the climate protection / housing costs dilemma.Sustainable building in accordance with Gold standard of the German Sustainable Building CouncilWith an investment volume of more than EUR 7 billion, Deutsche Wohnen will, in future, strengthen its efforts to build new housing, especially in attractive metropolitan and growth regions. The company sees itself as having a responsibility to create liveable neighbourhoods that are fit for the future - and to do so sustainably. All our new builds are to be certified in future by the German Sustainable Building Council - at the very least with its Gold standard. The award means that the entire life cycle of a property is taken into consideration and ensures that high sustainability standards are made binding.Issuance of green corporate bondsAt the end of the first quarter 2021 and in order to create an even stronger link between its sustainability strategy and its financing requirements, Deutsche Wohnen issued for the first time two green corporate bonds on the capital markets in a total amount of EUR 1 billion. The net proceeds from the issue will be used to finance green projects. This will enable the company in future to increase its investment in the construction of climate-friendly buildings and in the energy-efficient refurbishment of its existing holdings. This successful issuance is also clear evidence of the attractiveness and durability of the company's business model and a clear signal to Deutsche Wohnen that it should pursue its sustainability strategy consistently and make a key contribution to the provision of sustainable housing in Germany.Continued focus on customer satisfactionThe satisfaction of its tenants has the highest priority for Deutsche Wohnen. To this end, a central customer service unit was created last year with the aim of designing processes to be faster, more transparent and more customer-friendly in future. The results of the tenants' survey from the third quarter 2020 show that Deutsche Wohnen is on the right path with the measures it has taken. According to the survey, 9 out of 10 tenants are satisfied with their flat (2019: 87%). Moreover, satisfaction with Deutsche Wohnen as a company rose by comparison with the previous year from 78% to 82%. The results of this annual survey motivate us to continue to invest in process optimisation and customer satisfaction.Unusual actions are needed in unusual times. In order to protect residential and commercial tenants who had got into payment difficulties as a result of the corona pandemic, the company established its own corona support fund in an amount of EUR 30 million in 2020. In this way, Deutsche Wohnen is contributing to ensure that financial difficulties do not lead to social hardship. It is planned to continue with this fund in 2021 so that support can be provided quickly.The current Sustainability Report is available for download via the following link: https://www.deutsche-wohnen.com/ueber-uns/unternehmen/nachhaltigkeit/. The report complements the Annual Report and the magazine, offering detailed information about Deutsche Wohnen's understanding of sustainability and its achievements in the five areas of action listed in the report: responsible company management, responsibility for customers and properties, responsibility for employees, responsibility for the environment and the climate, and responsibility for society.Deutsche WohnenDeutsche Wohnen is one of the leading publicly listed residential property companies in Europe. 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 2020, the portfolio comprised a total of around 155,400 residential and 2,900 commercial units. Deutsche Wohnen SE is listed in the Deutsche Börse's DAX and is also included in the leading indices EPRA/NAREIT, STOXX Europe 600, GPR 250 and DAX 50 ESG.Important noteThis 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 86-5413Fax +49 (0)30 897 86-5419ir@deutsche-wohnen.com28.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 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: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1188508 End of News DGAP News Service

  • EQS Group

    Deutsche Wohnen SE: Decision of the Federal Constitutional Court on the Berlin rent cap / 'No tenant of Deutsche Wohnen will lose the home as a result of the decision'

    DGAP-News: Deutsche Wohnen SE / Key word(s): Legal Matter15.04.2021 / 11:11 The issuer is solely responsible for the content of this announcement.Corporate NewsDecision of the Federal Constitutional Court on the Berlin rent cap"No tenant of Deutsche Wohnen will lose the home as a result of the decision"- Quick decision by the court: tenants and landlords now have legal certainty- Consensus of BBU members: subsequent claims should be made with the greatest sense of social responsibility- Deutsche Wohnen's promise: no tenant of Deutsche Wohnen will lose the home as a result of the decisionBerlin, 15 April 2021. With the decision of March 25, 2021, published today, the 2nd Senate of Federal Constitutional Court has declared the so-called Berlin rent cap (MietenWoG Bln) incompatible with the Basic Law and therefore null and void. Deutsche Wohnen SE welcomes the court's swift decision, as it creates the necessary legal certainty for both tenants and landlords.When implementing the decision, the company's promise applies: "No tenant of Deutsche Wohnen will lose the home as a result of this decision; we will proceed with the greatest sense of social responsibility." Deutsche Wohnen offers a whole range of options for settling the balance of the rent due: from one-off payments to instalment payments and deferments. In cases of social hardship, the company will find individual solutions together with the tenants.With this procedure, Deutsche Wohnen is acting in complete alignment with the BBU Verband Berlin-Brandenburgischer Wohnungsunternehmen e.V. (Association of Berlin-Brandenburg Housing Companies), which represents more than 729,000 apartments and thus 44 percent of the stock in Berlin. Deutsche Wohnen is part of the initiative social housing sector of the BBU.Deutsche Wohnen sees its responsibility to contribute to an easing of the housing markets, especially in metropolitan regions and conurbations. To this end, it is important to bring together all actors to develop solutions jointly. Deutsche WohnenDeutsche Wohnen is one of the leading publicly listed residential property companies in Europe. 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 2020, the portfolio comprised a total of around 155,400 residential and 2,900 commercial units. Deutsche Wohnen SE is listed in the Deutsche Börse's DAX and is also included in the leading indices EPRA/NAREIT, STOXX Europe 600, GPR 250 and DAX 50 ESG.Contact:Phone +49 (0)30 897 86-5413Fax +49 (0)30 897 86-5419ir@deutsche-wohnen.com15.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 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: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1185250 End of News DGAP News Service