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Deutsche Wohnen H1 Profit Rises; Affirms Earnings Forecast

Deutsche Wohnen (DWHHF.PK) said the first six months of 2021 were according to plan for the company. FFO I rose 2% year-over-year for the period, and is on track to reach 2021 guidance.

First-half profit to shareholders increased to 241.6 million euros from 212.1 million euros, last year. Earnings per share was 0.70 euros compared to 0.60 euros. Adjusted EBITDA was 387.4 million euros, an increase of 3.8% year-on-year. FFO I increased to 291.4 million euros from 285.7 million euros. FFO I per share was 0.77 euros compared to 0.81 euros.

Income for the period declined to 950.5 million euros from 1.00 billion euros, previous year. Income from Residential Property Management declined to 625.9 million euros from 636.8 million euros.

For 2021, the company continues to project FFO I at the same level as prior year. Adjusted EBITDA excluding disposals are anticipated to be stable at 2020 level.

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