Vonovia Targets Growth in 2022 -- Update
18 März 2022 - 10:51AM
Dow Jones News
By Kim Richters
Vonovia SE on Friday said it is planning to further grow revenue
and funds from operations this year after the company acquired
rival Deutsche Wohnen SE in 2021.
The German real-estate company said for 2022 it is targeting
total segment revenue of between 6.2 billion euros ($6.88 billion)
and EUR6.4 billion. It also guides for group funds from
operations--the company's key figure for operational profitability
also called FFO--between EUR2.0 billion and EUR2.1 billion.
"We're anticipating to increase our turnover, EBITDA and Group
FFO by more than 20%," said the company's chief executive officer
Rolf Buch in a statement.
In 2021, Vonovia's total segment revenue rose 18.5% to EUR5.18
billion, and funds from operations increased 24% to EUR1.67
billion, the company said.
However, net profit fell to EUR2.64 billion from EUR3.23 billion
the year earlier, which was mainly due to depreciations and
impairments on portfolio assets.
Vonovia proposed a dividend of EUR1.66 a share for 2021, to be
paid out of its funds from operations. "If the increase in shares,
caused by the capital increase, is taken into account for the
dividend of the previous year as well, this amounts to an increase
of EUR0.08," the company said.
At 0919 GMT, shares in Vonovia were trading 1.6% lower at
EUR46.56.
Ulrike Dauer contributed to this article.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
March 18, 2022 05:36 ET (09:36 GMT)
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