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Vonovia 9-month Profit Surges

Vonovia SE (DAIMF) on Thursday reported that its profit for the nine-month period surged more than 100 percent to 3.87 billion euros, while Group FFO rose nearly 13 percent to 1.15 billion euros.

Total adjusted EBITDA for the period grew 7.6 percent to 1.54 billion euros, reflecting strong demand in the property market.

Total Segment Revenue for nine months rose by 9.5 percent to 3.52 billion euros, due to positive impact on organic growth through new builds and sale of individual flats in the various price segments.

Looking ahead to the full year, the Group now expects FFO in the range of 1.520 billion - 1.540 billion euros and adjusted EBITDA to be at the upper end of the 2.055 billion - 2.105 billion euros range.

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