Q2 2023 Deutsche Wohnen Earnings

Investments
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This topic centers on Deutsche Wohnen Q2 2023 earnings expectations and results.

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Here is a summary of Deutsche Wohnen’s H1 2023 preliminary results;

  • Deutsche Wohnen said in the report that it’s examining “whether and when a potential sale of individual portfolios of the nursing segment might make economic sense.”
  • Its H1 FFO was at the previous year’s level of € 297.4 million( € 0.75 per share)
  • In H1 portfolio revaluation led to fair value adjustments of investment properties of € -2,175.8 million majorly impacting NAV reduction to € 18,482.2 million or € 46.56 per share (-9.2% in H1; -19% y/y)

https://www.eqs-news.com/news/corporate/deutsche-wohnen-se-publishes-preliminary-results-for-6m-2023/1872929

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Vonovia reported its Q2 2023 earnings results today. Here is a summary of its results;

  • Operating results have been stable; revenue was € 1.495 billion(+1.1% y/y), adjusted EBITDA was € 681.2 million(+0.6% y/y), Group FFO was € 502.2 million(-0.3%), NAV was €40,460.1 million(-18.7% y/y and -5.4% Q/Q) and vacancy rate was unchanged from last year at 2.2%.

  • Portfolio value now stands at €88.2 billion after declining by €6.1 billion in H1 and €2.7 billion in Q2 2023.

  • LTV stands at 46.8%(Q1 2023: 46.6%), still above its target of lower end of 40-45%.

  • Core business EBITDA rose 10.3% y/y to €618.5 million due to a 3.5% increase in organic rent, Deutsche Wohnen synergies and new construction and modernization growth.

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