Vonovia 9-Month Results Up; Issues FY Guidance

Vonovia (DAIMF) reported 9-month profit of EUR 1.89 billion or EUR 3.33 per share compared to EUR 63.4 million or EUR 0.05 per share last year.

Group FFO for the period was EUR 1.02 billion or EUR 1.80 per share compared to EUR 932.8 million or EUR 1.72 per share a year ago.

Total adjusted EBITDA for the 9-months ended September 2020 was EUR 1.432 billion versus EUR 1.331 billion reported in the prior year period.

For fiscal 2020, the company continues to project adjusted EBITDA in the range of EUR 1.875 billion - EUR 1.925 billion, and Group FFO of EUR 1.275 billion - EUR 1.325 billion.

For fiscal 2021, the company expects adjusted EBITDA in the range of EUR 1.975 billion - EUR 2.025 billion, Group FFO of EUR 1.415 billion - EUR 1.465 billion.

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