Deutsche Wohnen FY Profit Down; Sees Solid Progress For FY21

Deutsche Wohnen SE (DWHHF.PK) reported that its profit for fiscal year 2020 declined to 1.54 billion euros from 1.60 billion euros in the previous year.

Adjusted earnings before interest, tax and depreciation rose by 12.1% to about 1 billion euros from the prior year, particularly because of disposals.

Operating result or EBITDA was 686.7 million euros, down from 873.1 million euros in the previous year.

Deutsche Wohnen anticipates solid progress for the financial year 2021. The company expects a stable FFO I at the same level as the previous year and further growth in the net asset value.

At the Annual General Meeting on 1 June 2021, the Management and Supervisory Boards will propose a dividend of 1.03 euros per share.

The company presented a climate strategy to enable it to achieve climate-neutral holdings by 2040.

The company noted that it will reduce today's CO2 intensity of 33 kg CO2e/sqm in its portfolio to below 12 kg CO2e/sqm by 2040. This means that the company would achieve a target corridor for virtually climate-neutral holdings, as defined by, amongst others, the professional association IW.2050.

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