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Deutsche Wohnen 9-month Profit Drops

Deutsche Wohnen SE (DWHHF.PK) reported that its net profit for the nine-month of 2020 dropped to 307.9 million euros from 634.7 million euros last year.

Earnings before taxes were EBT were 425.9 million euros down from 853.1 million euros in the prior year.

Operating result or EBITDA decreased to 508.0 million euros from 560.6 million euros in the prior year.

Earnings from Residential Property Management rose to 553.9 million euros from 549.6 million euros last year.

FFO I EPRA slightly rose to 1.21 euros per share from 1.20 euros per share in the prior year.

Deutsche Wohnen has announced the installation of 1,000 photovoltaic systems, with the first of these being installed this year. In addition, 2,000 charging points for electric vehicles will be installed, which will support the transition to ecologically sustainable mobility.

Deutsche Wohnen reaffirmed its promise that no tenant will lose their flat as a result of the coronavirus pandemic.

The company reaffirmed its forecast for FFO I to be at the same level as the previous year's 540 million euros.

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