VNA.DE - Vonovia SE

XETRA - XETRA Delayed price. Currency in EUR
55.32
+0.54 (+0.99%)
At close: 5:35PM CEST
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Previous close54.78
Open54.76
Bid55.20 x 133300
Ask55.22 x 108300
Day's range54.50 - 55.32
52-week range36.71 - 56.38
Volume852,373
Avg. volume1,527,259
Market cap30.294B
Beta (5Y monthly)0.42
PE ratio (TTM)25.83
EPS (TTM)2.14
Earnings date05 Aug 2020
Forward dividend & yield1.57 (2.87%)
Ex-dividend date01 Jul 2020
1y target est47.84
  • EQS Group

    Vonovia SE: Vonovia Successfully Places Two Unsecured Bonds

    DGAP-News: Vonovia SE / Key word(s): Bond 02.07.2020 / 18:29 The issuer is solely responsible for the content of this announcement. Vonovia Successfully Places Two Unsecured Bonds with an Aggregate Volume of €1.5bn at an Average Coupon of 0.81% \- Dual-tranche offering with 6-year and 10-year maturities\- New issuance 4 times oversubscribed\- Proceeds to be used for early repayment of various high-interest loans in Sweden, mostly related to HemblaBochum, 2 July, 2020 - Vonovia SE successfully placed two corporate bonds with an aggregate volume of €1.5bn today. The funds will be used for the early repayment of various loans in Sweden, which are mostly related to Hembla. With this transaction, Vonovia achieves the targeted financial synergies, which form part of the €30m total synergies in connection with the acquisitions of Hembla last year."With debt markets back in very favorable territory after considerable volatility in the wake of the COVID-19 crisis, we seized this window of opportunity to execute on our financing strategy for Hembla. This transaction once again clearly demonstrates investors' strong support of Vonovia and their firm belief in our highly robust business model," commented Helene von Roeder, CFO of Vonovia.The issuance was 4 times oversubscribed with strong demand coming from more than 300 investors. The 6-year note with a coupon of 0.625% and the 10-year note with a coupon of 1.00% are highly complementary to Vonovia's debt profile, with maturities evenly distributed over an average duration of ca. 8 years. Vonovia's capital structure and liquidity position remain very comfortable with no financial maturities until December 2020, when an unsecured corporate bond of €750m (1.625% coupon) will expire.After completion of the settlement, all relevant information on the issuance will be available on Vonovia's Investor Relations website in the Creditor Relations subsection, where the EMTN prospectus can also be found.Advisors (Joint Lead Managers) for this transaction were Morgan Stanley, Société Générale, Credit Suisse, Unicredit, Commerzbank, Deutsche Bank, Bank of America, and BNP.About Vonovia Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 415,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 73,000 apartments. Its portfolio is worth approximately € 53.2 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of more than 10,000 employees. Additional Information: Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, GermanyThis press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release. * * *02.07.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1085109 End of News DGAP News Service

  • EQS Group

    Vonovia SE: Shareholders Pass Resolution on Dividend of € 1.57 at Annual General Meeting (news with additional features)

    DGAP-News: Vonovia SE / Key word(s): AGM/EGM 30.06.2020 / 15:26 The issuer is solely responsible for the content of this announcement. THE INFORMATION CONTAINED IN THIS DOCUMENT IS NOT SUITABLE FOR COMPLETE OR PARTIAL PUBLICATION OR DISCLOSURE TO OR WITHIN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR OTHER COUNTRIES WHERE SUCH PUBLICATION OR DISCLOSURE WOULD CONSTITUTE A VIOLATION OF APPLICABLE LEGAL PROVISIONS. THIS PUBLICATION IS NEITHER AN OFFER TO BUY OR SELL NOR AN INVITATION TO TENDER AN OFFER TO BUY OR SELL SHARES. Vonovia SE: Shareholders Pass Resolution on Dividend of € 1.57 at Annual General Meeting \- Vonovia holds virtual Annual General Meeting for the first time\- Vonovia once again offers a scrip dividend\- Vonovia creates 100 additional trainee positionsBochum, June 30, 2020 \- The shareholders of Vonovia SE ("Vonovia") approved all resolutions proposed by the Supervisory Board and Management Board with the required majority at today's Annual General Meeting. They also formally approved the actions of the Supervisory Board (91.83 % of the votes) and the Management Board (97.65 %) for the 2019 fiscal year with a large majority.In order to protect the individuals involved, Vonovia organized a virtual Annual General Meeting for the very first time. The Annual General Meeting was held using a new and creative format. "We see the event as an opportunity to forge ahead with digitalization and exploit the advantages it offers," said Chairman of the Supervisory Board Jürgen Fitschen. Representatives of the Supervisory Board and the Management Board spoke to their shareholders from the studio set up at the corporate headquarters in Bochum. Key stakeholders made statements by video. The shareholders used a live stream to follow the Annual General Meeting. 700 attendees simultaneously followed the live stream. They had submitted their questions electronically in the period leading up to June 27. A sign language interpreter provided a live translation of the entire Annual General Meeting for attendees with hearing impairments. Voting rights could be exercised before and during the Annual General Meeting per postal vote or by authorizing the company's proxies."Well Positioned Even for Turbulent Times" Rolf Buch, CEO of Vonovia SE, spoke of the "memorable circumstances" surrounding the Annual General Meeting. In his review of the successful fiscal year, he said to the company's shareholders, "We have achieved everything that we set out to achieve. Vonovia is well positioned - even for turbulent times. We are aware, however, that we would not have made it this far without your support. On behalf of the entire Management Board, I would like to thank you most sincerely."The dividend proposed by the Supervisory Board and the Management Board for the 2019 fiscal year found broad support among Vonovia's shareholders. This means that Vonovia will be distributing € 1.57 per share, which corresponds to an increase of 9% compared to the previous year. Shareholders can once again choose a scrip dividend this year instead of a conventional cash dividend.Trust as a Key Foundation "The most important thing in our business is trust," said Rolf Buch in his speech. He included that Vonovia needs "the trust of our employees and our tenants," as well as the trust of policymakers and the population at large. What is more, "We need the trust of our shareholders." The CEO emphasized, "Trust is something that we have to earn, time and time again. By having courage and confidence. By listening. By showing that we are taking responsibility. By making sure that others understand the decisions we make. And by keeping the promises we have made."100 Additional Apprenticeships In the morning, Vonovia had also announced that it would be almost doubling the number of apprenticeships in the trades this year by 100 to 210. Including the company's commercial apprentices, this will allow 265 career entrants to start their vocational training at Vonovia, the highest number ever recorded. Up-and-coming specialists can also start or continue their training at Vonovia if the company they are currently training with has become insolvent.The additional apprenticeships - plant engineer, tiler, electronics technician, painter and gardener - will be available in all Vonovia regions throughout Germany. "We offer prospects for young people," said Rolf Buch during the Annual General Meeting. Young people just starting out in working life have a good chance of being taken on permanently by Vonovia once they have completed their training. The training rate stood at 5% last year, outstripping the average for the DAX companies.The Supervisory Board of Vonovia SE includes: Jürgen Fitschen (Chairman), Prof. Edgar Ernst (Deputy Chairman), Burkhard Ulrich Drescher, Vitus Eckert, Dr. Florian Funck, Dr. Ute Geipel-Faber, Daniel Just, Hildegard Müller, Prof. Klaus Rauscher, Dr. Ariane Reinhart, Clara-Christina Streit and Christian Ulbrich.The Management Board of Vonovia SE includes: Rolf Buch (CEO), Arnd Fittkau (CRO), Daniel Riedl (Development and Austria) and Helene von Roeder (CFO).The detailed voting results of the Annual General Meeting will be published at https://investoren.vonovia.de/hv.Supplementary material on the Annual General Meeting is also available at vonovia.de/hauptversammlung2020. 2020 Financial CalendarAugust 5: Interim Financial Report for 2020 November 4: Interim Statement for the first nine months of 2020About Vonovia Vonovia offers a home to around one million people in Germany. The residential real estate company plays a central role in society, which is why Vonovia's activities are never focused exclusively on financial aspects, but also take social factors into account. Vonovia is helping to provide answers to the current challenges on the housing market. The company is committed to more climate protection, more senior-friendly apartments and a positive community spirit in its neighborhoods. In cooperation with social institutions and the municipal districts, Vonovia supports social and cultural projects that enrich community life. Vonovia is also helping to address a social issue that is particularly important at the moment: the construction of new apartments.Our activities focus on our customers and their needs. On site, caretakers and our own craftsmen take care of our tenants' concerns. Being close to our customers ensures fast and reliable service. In addition, Vonovia invests generously in the maintenance of the buildings and develops housing-related services for a better quality of living. For answers to any questions in connection with lease agreements and ancillary expense bills, the central customer service center can be contacted via a regional service hotline as well as by email, fax, app or by post.Vonovia has a workforce of more than 10,000 employees and its CEO is Rolf Buch. Additional Information:Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, GermanyThis press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.* * *Additional features: File: Vonovia Annual General Meeting 2020 * * *30.06.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1082493 End of News DGAP News Service

  • EQS Group

    Vonovia SE: Vonovia to Create 100 Additional Apprenticeships (news with additional features)

    DGAP-News: Vonovia SE / Key word(s): Miscellaneous 30.06.2020 / 08:00 The issuer is solely responsible for the content of this announcement. Vonovia to Create 100 Additional Apprenticeships\- Vonovia to double the number of apprenticeships in the trades to 210\- Vonovia to create additional jobs in all regions across Germany\- Opportunity to continue training also open to apprentices from insolvent companies \- Rolf Buch: "Continuing to offer career prospects for young people is a matter very close to Vonovia's heart."Bochum, Germany, June 30, 2020. At a time when career prospects for young people are looking uncertain, Vonovia SE ("Vonovia") is setting an example. The Bochum-based real estate company is creating 100 additional apprenticeships in the trades across Germany. This will bring the total number of positions to 210, twice as many as originally planned. Vonovia will be training additional career entrants as plant engineers, tilers, electronics technicians, painters and gardeners in all of its regions, with a particular focus on the Ruhr region (24 new positions) and the North region (26). Including the company's commercial apprentices, this will allow 265 career entrants to start their vocational training at Vonovia, the highest number ever recorded."Training plays a key role at Vonovia. Offering career prospects for young people is a matter very close to Vonovia's heart - especially in times of uncertainty like the current coronavirus crisis," said Rolf Buch, Chief Executive Officer of Vonovia. "We see the decision to increase the number of apprenticeships that we offer as part of our social responsibility. What is more, certain occupations are in high demand at Vonovia. We need specialists we can keep within the company in the long run." Apprentices with a good performance record have a good chance of being able to keep working for Vonovia even after they have completed their training.In Cases of Insolvency: Opportunity to Continue Training at Vonovia The residential real estate company is also offering career entrants from insolvent companies the opportunity to start their training or complete training programs that they have already embarked on. Interested individuals can apply after the cut-off dates that apply to training, namely August 1, September 1, and October 1 - even if the company they are currently training with becomes insolvent at a later date.Trial Internships and Digital Applications Applicants can find information on vacant positions at karriere.vonovia.de. The website also provides further information on training and opportunities to join Vonovia. Much of the application process will be conducted in digital form, for example using telephone or video interviews. Trial internships (trial working days) are, however, now also available again in line with the applicable safety and hygiene standards.With a training rate that recently came to five percent, Vonovia already outstrips the average for the DAX companies. In addition to training for the trades, Vonovia also offers commercial apprenticeships in positions such as real estate agent, office management specialist and dual-degree programs, for example in IT. The locations across Germany offering training prospects include: Berlin, Bielefeld, Bochum, Bremen, Cologne, Dortmund, Dresden, Duisburg, Frankfurt am Main, Gelsenkirchen, Hamburg, Hanover, Heidenheim, Kassel, Kiel, Lübeck, Mannheim, Munich, Nuremberg and Stuttgart. About Vonovia Vonovia offers a home to around one million people in Germany. The residential real estate company plays a central role in society, which is why Vonovia's activities are never focused exclusively on financial aspects, but also take social factors into account. Vonovia is helping to provide answers to the current challenges on the housing market. The company is committed to more climate protection, more senior-friendly apartments and a positive community spirit in its neighborhoods. In cooperation with social institutions and the municipal districts, Vonovia supports social and cultural projects that enrich community life. Vonovia is also helping to address a social issue that is particularly important at the moment: the construction of new apartments.Our activities focus on our customers and their needs. On site, caretakers and our own craftsmen take care of our tenants' concerns. Being close to our customers ensures fast and reliable service. In addition, Vonovia invests generously in the maintenance of the buildings and develops housing-related services for a better quality of living. For answers to any questions in connection with lease agreements and ancillary expense bills, the central customer service center can be contacted via a regional service hotline as well as by email, fax, app or by post.Vonovia has a workforce of more than 10,000 employees and its CEO is Rolf Buch. Additional Information:Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, GermanyThis press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.* * *Additional features: File: Apprentices Vonovia * * *30.06.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1081887 End of News DGAP News Service

  • EQS Group

    Vonovia SE: Vonovia acquires a 2.6% stake in Dutch Residential Fund Vesteda (news with additional features)

    DGAP-News: Vonovia SE / Key word(s): Investment 26.06.2020 / 07:00 The issuer is solely responsible for the content of this announcement. Vonovia acquires a 2.6% stake in Dutch Residential Fund Vesteda \- First step into Dutch Residential Market \- Portfolio primarily located in attractive Randstad Region \- Close cooperation to address the challenges and opportunities of the housing markets in both countriesBochum, 26 June, 2020 - Vonovia SE, through a wholly owned subsidiary, will take a first step into the Dutch Residential Market by acquiring a 2.6% stake in Vesteda Residential Fund ("Vesteda"). Vesteda is the leading residential platform in The Netherlands with ca. 27,000 residential units primarily located in the highly attractive Randstad region. After extensive research and analysis of the Dutch residential market, this acquisition marks the first entry point into The Netherlands, which is one of the four non-German residential target markets for Vonovia.Similar to the 10% stake acquired in the French residential portfolio Foncière Vesta in 2018 this transaction will enable Vonovia to take the next incremental step in its efforts to develop an even better understanding of the local market and gain practical first-hand experience. This acquisition reconfirms Vonovia's ambition to build on its track record of scale and efficiency in Germany and to largely replicate this success story in comparable markets.Rolf Buch, CEO of Vonovia, commented, "While the newly acquired stake is clearly only a small step in this direction, it puts us in an ideal position on which we can further build if and when opportunities arise."Gertjan van der Baan, CEO of Vesteda, commented, "We would like to welcome Vonovia to the investor group of Vesteda. With a now more diverse investor base with a similar vision regarding our risk-return and long term investment horizon, we look forward to combining our knowledge on sustainability and affordability." The current transaction is explicitly supported by the Vesteda management. It aims for a closer cooperation with Vesteda and helps to address similar challenges and opportunities that both companies face, including affordable housing and climate protection. The planned closing date for the acquisition of the stake is 30 June 2020.About VestedaVesteda is a Dutch residential investor that focuses primarily on the mid-rental segment. Vesteda invests funds for institutional investors, such as pension funds and insurance companies. The portfolio consists of more than 27,000 residential units with a total value of 8 billion euro. Vesteda's homes are mainly located in economically strong regions and core urban regions.About Vonovia Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 415,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 73,000 apartments. Its portfolio is worth approximately € 53.2 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of more than 10,000 employees. Additional Information: Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, GermanyThis press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.* * *Additional features: File: Vonovia_Vesteda_Amsterdam_Project_De Enter * * *26.06.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1079561 End of News DGAP News Service

  • EQS Group

    Vonovia SE: Vonovia Supports German Government's Corona-Warn App (news with additional features)

    DGAP-News: Vonovia SE / Key word(s): Miscellaneous 16.06.2020 / 15:43 The issuer is solely responsible for the content of this announcement. Vonovia Supports German Government's Corona-Warn App\- Vonovia recommends its employees install the Corona-Warn app\- Over 1 million tenants are informed\- Rolf Buch: "Corona-Warn app is an important prerequisite for returning to normality" Bochum, Germany, June 16, 2020 Vonovia supports the German government in its effort to achieve the broadest possible use of the Corona-Warn app that was introduced today. To do so, the Corona-Warn app will be advertised to all Vonovia employees via push notification on their company smartphones - installation of the app is voluntary, however. In addition, the approximately one million tenants will be informed about the advantages of the Corona-Warn app through the Vonovia tenant app as well as in the customer magazine. The advantages include warning the app's users when they have come too close into contact with an infected person for a longer period of time. It can also trace possible chains of infection in the case of a new infection."We think the Corona-Warn app is an important step in fighting the coronavirus pandemic and an important prerequisite for returning to normality," says Rolf Buch, Chairman of the Management Board of Vonovia SE, adding, "The more people who use the app, the more quickly and effectively chains of infection can be interrupted."How does the app work? Whenever Corona-Warn app users encounter each other, their smartphones exchange encrypted random IDs over Bluetooth. These provide information on the distance between the people and the duration of the encounter. The app stores all the random IDs that the phone collects for a period of 14 days. According to the Robert Koch Institute, the incubation time - i.e., the time between infection and when symptoms of the disease appear - can last from one to 14 days. So the data collected will be automatically deleted after 14 days.If an affected person voluntarily registers their infection through the app, their random ID will be made available to all other users. The app on those users' phones checks whether the contacts from the past 14 days include the random ID of an infected person and if critical contact occurred. If that is found to be the case, those affected are notified and given clear recommendations for action. The data of those notified is not accessible at any time.What happens with the data? The app is active on smartphones that are turned on and will accompany the user throughout their day. The data, however, remains anonymous at all times. The app does not know the names, phone numbers or locations of its users. This means the app cannot pass on any sensitive data to unauthorized persons, and data remains protected for the entire period of use and for all functions.About Vonovia Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 415,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 73,000 apartments. Its portfolio is worth approximately € 53.2 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of more than 10,000 employees. Additional Information: Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, GermanyThis press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.* * *Additional features: File: Vonovia Supports German Government's Corona-Warn App * * *16.06.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1070959 End of News DGAP News Service

  • EQS Group

    Vonovia SE: Vonovia Publishes Sustainability Report: Residential Real Estate Company is Pioneer in Research on Efficient Technologies

    DGAP-News: Vonovia SE / Key word(s): Sustainability 04.06.2020 / 11:00 The issuer is solely responsible for the content of this announcement. Vonovia Publishes Sustainability Report: Residential Real Estate Company is Pioneer in Research on Efficient Technologies \- Hardship Case Management Expanded\- Innovation in Climate Protection and Affordable Housing\- Help for Tenants, Also During the Coronavirus CrisisBochum, June 4, 2020 \- Vonovia wants to make climate protection affordable. The residential real estate company is testing at the neighborhood level in Bochum-Weitmar to identify which technology is the most CO2-friendly and financially feasible. "We are investing in research today to find solutions for tomorrow. This issue is driving us forward and we can't afford to postpone it," emphasizes Rolf Buch, CEO of Vonovia SE.Germany's leading residential real estate company outlines this and other objectives for 2020 in its Fifth Sustainability Report, which is being published today. With this report, prepared in line with the GRI Standards, the company demonstrates how it is living up to its responsibility for employees, customers, affordable housing, and climate protection. It also describes its alliances with research institutes, the housing industry and society to find solutions to the overall social problem of affordable climate protection. "Vonovia is convinced that only those companies whose activities benefit society overall will be able to operate successfully in the long run and find social acceptance," explains Rolf Buch at the publication of the 2019 Sustainability Report.Refurbishment and Climate Protection Vonovia's refurbishment rate was higher than the national average in 2019 at 3.7%. The company provided assistance to 1,600 customers in connection with 13,200 modernization projects in 2019 (hardship case management).In order to make sure that energy-efficient refurbishment and modernization measures remain affordable, Vonovia has made a commitment to undertake no measures that would lead to a rent increase of more than € 2 per square meter. At the same time, Vonovia is working on solutions to achieve a socially responsible approach to climate change for its tenants. In order to cut CO2 emissions and energy consumption, Vonovia is focusing not only on conventional energy-efficient building upgrades using currently available technology, but also on decentralized energy supplies using renewable energies. For instance, it is continuing with the "1,000 roofs" program that it launched in 2019. The aim is to equip at least 1,000 roofs with photovoltaic modules over the next few years, allowing Vonovia to produce around 10,000,000 kWh of solar power annually. It has already equipped 800. The implementation of energy standards has allowed the company to save around 100,000 metric tons of CO2 since 2015, an annual CO2 reduction of as much as 2-3%. Under the United Nations Paris Agreement on climate change, the aim is to make the housing stock climate-neutral by 2050. Innovation In order to achieve climate neutrality in buildings, Vonovia focuses on innovation and research into new energy-saving technologies (hydrogen). In 2019, Vonovia launched a project in Bochum-Weitmar, to which the federal state of North Rhine-Westphalia is contributing € 6.2 million in funding, that combines a range of technologies in smart and novel ways in order to reduce energy consumption and forge ahead with sector coupling. The project is being implemented in an existing residential neighborhood comprising 1,540 apartments. It is designed to serve as an innovative example of environmentally and economically efficient energy supplies in urban neighborhoods, with CO2 emissions to be reduced by 60%. The plan is to establish a self-learning energy management system that will ensure energy is available in the right place at the right time - for example as electricity for tenant households or at public electric vehicle charging stations, or as heating.Cooperative Projects The Bochum pilot project is being implemented under the umbrella of the Open District Hub, a research initiative bringing together 14 research institutions, technology companies and real estate companies that was set up under the auspices of several Fraunhofer institutes in 2018. Vonovia is one of the founding members of the ODH. The challenge involved in combining climate protection and affordable housing is a challenge for society as a whole. In the quest to find solutions, Vonovia is committed to engaging in dialogue. Together with the German Energy Agency (dena) and the Fraunhofer institute, it is inviting representatives from politics, the housing industry, tenant associations and academia to a climate conference entitled "Prospects for Climate-neutral Housing," to be held on October 1, 2020. Vonovia is also a founding member of the nationwide initiative Wohnen 2050, which brings together more than 40 residential real estate companies that are uniting to find a way to push the climate protection agenda forward.Environment and Nature Conservation Within this context, the topic of biodiversity is also becoming increasingly important at Vonovia - with regard to species protection, adjustment to the implications of climate change, and responsible use of natural resources. Here too, Vonovia is actively committed to creating an ecologically valuable residential environment. This area offers huge potential for sustainable action. By way of example, Vonovia is maintaining and designing green spaces spanning around 14 million sqm and including 300 km of hedges and around 220,000 trees, and planting around 1,000 large climate-resilient trees every year. In keeping with this approach, in 2019 Vonovia and the environmental organization Naturschutzbund Deutschland e.V. (NABU) concluded a collaborative agreement. This involves turning neighborhood green spaces into urban living spaces and refuges for insects and birds and promoting near-natural gardening. Social Responsibility "We are demonstrating that we are prepared to live up to our social responsibility for our 1 million tenants and our employees, even in times of crisis," is how Rolf Buch describes the company's stance during the current coronavirus crisis. People whose income has been reduced or who have no income as a result of the pandemic can apply for a rent deferral. The company also suspended terminations and evictions beginning in mid-March in response to the coronavirus situation. Around 1% of tenants have made use of the assistance offered by Vonovia. Vonovia has also supported tenants' individual assistance initiatives with practical offers, such as help with shopping via the new tenant app.New Construction to Ease the Shortage of Apartments Vonovia is a company with 10,000 employees that manages a housing stock of around 356,000 of its own apartments in Germany in addition to 38,000 apartments in Sweden and around 22,500 in Austria. This portfolio is supplemented by a strong development and new construction division which completed around 2,100 new apartments in 2019, helping to ease the shortage of housing in Germany's conurbations. The plan is to complete around 900 apartments in Germany for Vonovia's own portfolio in 2020. 85% of the new buildings are to attain efficiency class A or better.Employees - Training - Diversity An employee survey conducted in 2019 shows that Vonovia is adapting to the changing needs of the working world: 72% of survey participants rate their own job in the company as very good. 81% say they want to stay with Vonovia for a long time. We received around 6,300 responses out of a total of almost 8,800 surveys sent out - a participation rate of 72%. Compared to other large companies, Vonovia's training rate in Germany is well above average at 5.0%. Vonovia sees the diversity of its workforce as both a huge strength and as an opportunity: Our employees come from 74 different countries. In addition, our commitment to integrate refugees into traineeships has been further expanded: During the reporting period, 33 refugees were training with Vonovia. The proportion of women in management will be increased on an ongoing basis.Sustainability The report highlights the fact that Vonovia will be making an explicit commitment to selected UN Sustainable Development Goals (SDGs) in the future. These take account of sustainable development and its financial, social and ecological aspects. The first evidence of this: Vonovia enhanced its sustainability management system in 2019 and launched a strategy process. Since then, sustainability issues have been tackled in a more structured, cross-departmental manner; dialogue with stakeholders has been expanded. A dedicated Sustainability/Strategy department was also set up in the second quarter of 2020.About the GRI StandardsThe international GRI Standards for sustainability reporting are published by the Global Reporting Initiative (GRI) and developed on an ongoing basis. Governmental organizations, NGOs such as environmental and human rights groups, and also companies themselves are involved in developing the standards. The GRI was established in 1997 with the support of the United Nations Environment Programme and is based in Amsterdam.Vonovia's Sustainability Report is only available online, which is also a contribution to the sustainable use of resources. It is available online at:DE: http://reports.vonovia.de/2019/nachhaltigkeitsbericht/The English version will be available shortly at:EN: http://reports.vonovia.de/2019/sustainability-report/ About Vonovia Vonovia offers a home to around one million people in Germany. The residential real estate company plays a central role in society, which is why Vonovia's activities are never focused exclusively on financial aspects, but also take social factors into account. Vonovia is helping to provide answers to the current challenges on the housing market. The company is committed to more climate protection, more senior-friendly apartments and a positive community spirit in its neighborhoods. In cooperation with social institutions and the municipal districts, Vonovia supports social and cultural projects that enrich community life. Vonovia is also helping to address a social issue that is particularly important at the moment: the construction of new apartments.Our activities focus on our customers and their needs. On site, caretakers and our own craftsmen take care of our tenants' concerns. Being close to our customers ensures fast and reliable service. In addition, Vonovia invests generously in the maintenance of the buildings and develops housing-related services for a better quality of living. For answers to any questions in connection with lease agreements and ancillary expense bills, the central customer service center can be contacted via a regional service hotline as well as by email, fax, app or by post.Vonovia has a workforce of more than 10,000 employees and its CEO is Rolf Buch.Additional Information:Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitätsstrasse 133, 44803 Bochum, Germany This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release. * * *04.06.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1061959 End of News DGAP News Service

  • Analysts upbeat on the outlook for Vonovia Se
    Stockopedia

    Analysts upbeat on the outlook for Vonovia Se

    The Vonovia Se (ETR:VNA) share price has risen by 5.48% over the past month and it’s currently trading at 48.06. For investors considering whether to buy, hold8230;

  • Vonovia sticks to forecasts, coronavirus impact limited
    Reuters

    Vonovia sticks to forecasts, coronavirus impact limited

    German residential real estate company Vonovia <VNAn.DE> on Tuesday stood by its profit forecast for 2020, saying it expected a very small, temporary reduction in rental payments due to hardship caused by the coronavirus pandemic. The private sector's involvement in the affordable housing sector has been controversial of late in Germany, with the capital Berlin enforcing a five-year rent freeze that has been challenged in the courts. "We are finding individual solutions together with our tenants in case of payment difficulties."

  • EQS Group

    Vonovia SE: Stability as the Basis for Social Responsibility During the Coronavirus Crisis - Solid Start of the Year for Vonovia (news with additional features)

    DGAP-News: Vonovia SE / Key word(s): Quarter Results 05.05.2020 / 07:01 The issuer is solely responsible for the content of this announcement. Results as of March 31, 2020 Stability as the Basis for Social Responsibility During the Coronavirus Crisis - Solid Start of the Year for Vonovia \- Protection of the health and jobs of employees ensured.\- Customer services and infrastructure of buildings and apartments guaranteed.\- Early security for tenants: financial support and offers of assistance.\- Vonovia remains well positioned to continue business and act where necessary.\- Economic outlook remains positive, forecast for 2020 confirmed.\- Continued focus on climate protection, the shortage of housing and demographic change.Bochum, May 5, 2020 - Vonovia SE ("Vonovia") has ensured the jobs and health of its employees in the coronavirus crisis. The residential real estate company has taken all necessary measures to guarantee customer services and the management of residential property. Vonovia has given tenants early financial security and offers of assistance during the coronavirus crisis. Thanks to its stable business model, Vonovia also had a solid start to 2020."We stand by our responsibility as a large residential real estate company. Our economic stability forms the basis for us to assume social responsibility during the coronavirus crisis and to use our strength and capabilities to help," says Rolf Buch, Chief Executive Officer of Vonovia. "Over the past few weeks, our employees have shown a high degree of flexibility and tremendous commitment and I would like to offer them my cordial thanks."Free Face Masks for TenantsIn order to counter the uncertainty of tenants, Vonovia approved extensive measures back in mid-March. "We assured our tenants early on that they do not need to worry about their apartment due to financial difficulties caused by short-time work, job losses or a decline in orders. We are finding individual solutions together with our tenants in case of payment difficulties." Therefore, Vonovia is doing without rent increases until further notice by adjusting the standard local comparative rent and is offering assistance to older tenants, for example with shopping.For networking in the neighborhood and helping one another, tenants can use the customer app "My Vonovia." Through the app they receive not only information about the rental contract, but also information about coronavirus. "Soon our tenants will be able to order protective masks free of charge by using the app, and we will take care of the logistics," says Rolf Buch. Since the beginning of the year, the app has recorded approximately 28,000 downloads."At a time when home has become a place of refuge more than ever before, we are demonstrating that we stand behind our tenants. Our occupancy policy of relying on varied quarters is now distinguishing itself. In the course of providing neighborhood assistance, we are observing significant solidarity among our tenants," says Rolf Buch. Economic Strength Largely Unaffected by the Coronavirus Crisis Vonovia remains positioned for financial stability and fully capable of taking action. "Given our financial stability, we need to assume social responsibility particularly now," says Rolf Buch. So far a bit over 1% of the tenants have reported financial hardship. Overall, Vonovia expects only a very low, temporary reduction in rental payments. Together with the tenants, Vonovia is developing individual solutions for deferred rents, such as long-term installment payments.The adjusted EBITDA Total increased from January to March 2020 by 6.1% to € 456.1 million (Q1 2019: € 429.9 million). The Housing-Related Services (Value-add), Development and Recurring Sales business areas contributed a combined € 75.0 million to the adjusted EBITDA Total. The adjusted EBITDA Rental amounted to € 381.1 million. In the same period, Vonovia increased the Group FFO (operating earnings) by 10.5% to € 335.5 million (Q1 2019: € 303.6 million). Above all, the purchase of Hembla as well as organic growth resulting from new construction and modernization have had a positive impact.Standard & Poor's has again confirmed Vonovia's BBB+ rating. Since December 2019, the company also has an "A-" rating from the Scope rating agency. "Once again we have taken precautions. We have continued access to fresh money under good terms in the capital market," says Rolf Buch. In the first quarter, Vonovia concluded a total of € 500 million in financing with mortgage banks and placed two bonds for a total volume of € 1 billion at the end of March. The Loan-to-Value ratio at the end of March 2020 was 43.0% (December 31, 2019: 43.1%) in the target range of 40% to 45%."Our comfortable financial situation allows us to continue to assume social responsibility and to devote ourselves to the large megatrends - the shortage of housing in the high-influx cities, demographic change and climate protection." Since the start of its modernization program in 2015, Vonovia has improved the CO2 profile of its portfolio by around 100,000 metric tons or 9.2%. Without these energy efficiency modernizations, emissions in 2019 would have amounted to around 1.1 million metric tons of CO2 instead of a provisional figure of roughly 1 million.Moderate Rental PolicyCompared to the previous year, rental income was € 564.0 million (Q1 2019: € 502.2 million). Above all, the acquisition of Hembla as well as organic growth made themselves noticeable. The development of rents on a market basis amounted to 1.0%. In addition, investments in buildings as part of the modernization program (2.3%) as well as in new construction and vertical expansion (0.6%) contributed to rental development."We are continuing to conduct a moderate rental policy. Our average rent of € 6.94 per square meter is no luxury rent and rather reflects our good price-performance ratio," says Rolf Buch. As of March 31, 2020, our portfolio of apartments continued to be nearly fully occupied with a vacancy rate of 2.8% (March 31, 2019: 2.9%). Although the demand for apartments remains at a similar level as in past months, terminations are about 40% lower.Investment Program and Expansion of the Development Business From January to March 2020, Vonovia has continued to make considerable investments in its portfolio as well as new construction for rental and sale. In the first three months of the year, total investments increased compared with the same period of 2019 from € 385.8 million to € 452.7 million (+ 17.3%). In the process, the company spent € 123.0 million (Q1 2019: € 97.6 million) on maintenance and invested € 208.1 million (Q1 2019: € 188.0 million) in modernization measures. Expenditure for new construction rose during the three-month period by 21.4% from € 100.2 million in 2019 to € 121.6 million in 2020.Vonovia has expanded its development business in Germany with the acquisition of the project developer Bien-Ries in early April 2020. Bien-Ries operates primarily in the Rhine-Main region. With the acquisition, Vonovia is expanding from its previous locations of Vienna, Berlin, Hamburg and Leipzig. In sum, Vonovia has completed 122 apartments in the first quarter of this year. Safety precautions during the coronavirus pandemic will delay several of the new construction projects originally planned for 2020 until 2021. Therefore, the completion of more than 1,600 apartments instead of 2,000 apartments is planned this year.Positive Business Outlook - 2020 Forecast Confirmed According to the company's forecast, the positive financial start to the year will continue despite the effects of the coronavirus on public life. The Adjusted EBITDA Total is expected to range between about € 1.875 billion and € 1.925 billion. Group FFO is expected to range between around € 1.275 billion and € 1.325 billion. Vonovia employees have been mostly working from home for the last several weeks. In view of the easing of coronavirus restrictions, Vonovia has also organized a gradual return to day-to-day life, whereby a large proportion of employees will continue to work from home at first. All protective measures, such as social distancing rules and hygienic guidelines, will be maintained in the office. Current occupational safety standards will also continue to apply to work in the apartments, on the portfolio and on the construction sites.Focus on Social Development Also in 2020 Despite several delays caused by the coronavirus crisis, the company remains committed to its social targets. To be sure, for example, the senior-friendly conversion of vacant apartments cannot be maintained in the current situation at the same level as before the pandemic. Nevertheless, climate protection, demographic change and the lack of affordable homes remain decisive megatrends for Vonovia."In general, the coronavirus months have hardly been helpful for overcoming the challenges in the residential property market. The conversion and new construction of apartments must proceed so that Germany will have access to sufficient suitable housing over the long term," says Rolf Buch. "We remain very ambitious." Vonovia continues to stand by its target of completing energy-efficient refurbishment measures for at least 3% of its own portfolio every year in Germany. Investments for modernization and new construction will thus once again reach a high level, with an expected volume of between around € 1.3 billion and € 1.6 billion.Virtual Annual General Meeting Will be Held on June 30, 2020 Vonovia has postponed this year's ordinary Annual General Meeting to June 30, 2020. It will likely be held virtually. The targeted dividend payment of € 1.57 per share remains intact. Maintaining the dividend signifies reliability, for Vonovia needs the trust and support of the shareholders in order to continue to devote itself to the challenges in the residential property market in the future. Interim Statement for the First Quarter of 2020: https://reports.vonovia.de/2020/q1/ Media Center: https://www.vonovia.de/en/ueber-vonovia/presse/mediathek Further information can be found in the Press Section. 2020 Financial Calendar:June 30, 2020: Virtual Annual General Meeting August 5, 2020: Interim Financial Report for 2020 November 4, 2020: Interim Statement for the first nine months of 2020 Financial Key Figures in € million 3M 2019 3M 2020 Change in % Rental income in the Rental segment 502.2 564.0 12.3 Adjusted EBITDA Rental 357.4 381.1 6.6 Adjusted EBITDA Value-add 35.8 37.2 3.9 Adjusted EBITDA Recurring Sales 26.3 26.4 0.4 Adjusted EBITDA Development 10.4 11.4 9.6 Adjusted EBITDA Total 429.9 456.1 6.1 EBITDA IFRS 388.2 428.1 10.3 Group FFO 303.6 335.5 10.5 Profit for the period 201.4 211.6 5.1 Maintenance, modernization and new construction (incl. to sell) 385.8 452.7 17.3 thereof maintenance 97.6 123.0 26.0 thereof modernization 188.0 208.1 10.7 thereof new construction (incl. to sell) 100.2 121.6 21.4 Key Balance Sheet Figures in € million Mar. 31, 2019 Mar. 31, 2020 Change in % Fair value of the real estate portfolio 44,543.0 53,199.7 19.4 Adjusted NAV 23,613.1 28,320.8 19.9 Adjusted NAV per share in €* 45.58 52.23 14.6 LTV in % 42.4 43.0 1.4 Non-financial Key Figures 3M 2019 3M 2020 Change in % Number of units managed 473,393 488,294 3.1 thereof own apartments 394,609 415,323 5.2 thereof apartments owned by others 78,784 72,971 -7.4 Number of newly constructed apartments 224 122 -45.5 thereof for own portfolio 188 122 -35.1 thereof for sale to third parties 36 - -100.0 Vacancy rate in % 2.9 2.8 -0.1 pp Monthly in-place rent in €/m² 6.56 6.94 5.8 Employees, number (reporting date: March 31) 9,925 10,499 5.8 EPRA Key Figures in € million Mar. 31, 2019 Mar. 31, 2020 Change in % EPRA NAV 26,452.7 29,761.0 12.5 EPRA NAV per share in €* 51.06 54.88 7.5 * Based on the shares carrying dividend rights on the reporting date Mar. 31, 2019: 518,077,934, Mar. 31, 2020: 542,273,611, Dec. 31, 2019: 542,273,611 About Vonovia Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 415,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 73,000 apartments. Its portfolio is worth approximately € 53.2 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of more than 10,000 employees. Additional Information: Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange ISIN: DE000A1ML7J1 WKN: A1ML7J Common code: 094567408 Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879 Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, GermanyThis press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.* * *Additional features: Document: https://eqs-cockpit.com/c/fncls.ssp?u=RSQAILANQU Document title: Stability as the Basis for Social Responsibility During the Coronavirus Crisis - Solid Start of the Year for Vonovia * * *05.05.2020 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: Vonovia SE Universitätsstraße 133 44803 Bochum Germany Phone: +49 234 314 1609 Fax: +49 234 314 2995 E-mail: investorrelations@vonovia.de Internet: www.vonovia.de ISIN: DE000A1ML7J1 WKN: A1ML7J Indices: DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1035667 End of News DGAP News Service

  • Don't Sell Vonovia SE (ETR:VNA) Before You Read This
    Simply Wall St.

    Don't Sell Vonovia SE (ETR:VNA) Before You Read This

    This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show...

  • Can a Big Real Estate Deal Make Berlin Affordable?
    Bloomberg

    Can a Big Real Estate Deal Make Berlin Affordable?

    (Bloomberg Opinion) -- Plenty of M&A deals make sense and yet never happen because of politics, personality or pride. The creation of a $40 billion German real-estate champion by combining Vonovia SE and Deutsche Wohnen SE is one such hardy perennial that could be attempted once again when the pandemic eases. There’s no doubting the value creation. The tricky part will be sharing it out fairly.Capitalized at 24 billion euros ($26 billion), Vonovia is considering an approach for its peer, which is worth 13 billion euros and focused on the hot Berlin market, Bloomberg News reported on Wednesday. Investors have long encouraged the idea given the evident economies of scale in property management. An attempt to hook up failed in 2015, when Deutsche Wohnen and its shareholders objected to the price being dangled. Today, politics are as big an obstacle.Rents in Berlin, a vibrant capital city with lots of parks and a lively art scene, are a political hot potato. A clamor for the renationalization of the listed landlords morphed into a policy of blanket rent caps, which some property owners are contesting. That could be a poison pill to a deal. Yet, if pitched properly, a tie-up could equally provide the context for reaching a new accord between politicians and the public, revising policies on rent and generally creating a more stable climate for investors. The key is showing that the value creation available here could help attain the public policy goal of increasing affordable accommodation.The combined workforce would not be large — around 14,000 — relative to the asset base. A lot of the legwork of property management is outsourced, which means the burden of cost savings would likely land on third-party contractors. The pain involved in cost reduction would therefore be less visible here than in some corporate takeovers. But the reality is there can be no savings without an impact somewhere.Assuming a combination can fly politically, Deutsche Wohnen’s management and shareholders are still a possible obstacle. Will it really be worth it for them? A transaction would have to be all stock. This is no time for Vonovia to be taking on more debt to pay out cash. In any case, targets don’t like to accept cash when it crystallizes a fall in their valuation driven by a market sell-off. A holding in the combination would give Deutsche Wohnen shareholders a stake in the benefits, making it hard to argue for a big premium.Takeover top-ups aren’t high in real estate anyway. Vonovia’s offers in its recent deals have on average been just 15% above the target’s pre-bid closing price, according to analysts at UBS Group AG. In practical terms, that would mean giving Deutsche Wohnen shareholders close to a 40% stake in the enlarged company, against 34% based on their share of Wednesday's combined market values.A deal would make sense and Vonovia is right to reheat the idea. Squaring the circle this time round won’t be much easier than last time. But if others in the sector start huddling together, there will be increased pressure to compromise and hammer out terms.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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