Vonovia 2019 Net Profit Dropped, Backs 2020 Outlook
05 März 2020 - 08:07AM
Dow Jones News
By Kim Richters
Vonovia SE said Thursday that its 2019 net profit fell, and it
backed its guidance for 2020.
The German real-estate company said net profit for the year was
1.15 billion euros ($1.28 billion), compared with EUR2.27 billion a
year earlier.
Vonovia's funds from operations, its operating profit after
taxes and interest and also called FFO, rose to EUR1.22 billion
from EUR1.13 billion.
Rental income increased to EUR2.07 billion from EUR1.89 billion,
while adjusted earnings before interest, taxes, depreciation and
amortization rose to EUR1.76 billion from EUR1.55 billion.
The company said it would propose a dividend of EUR1.57 per
share for 2019, up from EUR1.44 a share for the previous year.
Vonovia backed its outlook for 2020, expecting FFO in the range
of EUR1.275 billion to EUR1.325 billion.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
March 05, 2020 01:52 ET (06:52 GMT)
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