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Deutsche Wohnen Nine-month FFO Rises; Backs FY21 View

Deutsche Wohnen SE (DWHHF.PK), a German property company, on Friday posted a rise in its Funds From Operations for the nine-month period ended in September. It also reported increase in earnings amidst an increase in returns from the residential property management segment. In addition, the company has reaffirmed its earnings guidance for the current fiscal.

The Berlin-headquartered property firm posted its Funds From Operation (FFO) at 422.2 million euros or 1.22 euros per share, for the nine-month to September, compared with 420.7 million euros or 1.20 euros per share, reported for the same period, last year.

The company reported its FFO including disposals at 428.3 million euros or 1.13 euros per share, for the January to September period as against 449.2 million euros or 1.29 euros per share, year-on-year basis.

Earnings before taxes (EBIT) for the three-quarter period rose by 222.7 percent to 1.47 billion euros, year-over-year basis. However, adjusted EBIT fell by 10.8 percent to 416.3 million euros.

The company's earnings after taxes reported at 840.6 million euros or 2.31 euros per share for the nine-month period to September, versus 337.9 million euros or 0.95 per share of a year ago period.

For the 36-week period ended on September 30, adjusted EBITDA of the German firm dropped to 575.3 million euros, from 589.8 million euros last year.

Owing to a rise in demand, earnings from residential property management segment rose to 560.8 million euros for the 36-week period, from 553.9 million euros, recorded for the same period of 2020.

The company has reiterated its previous FFO guidance for the full year of 544.1 million euros or 1.56 euros per share, flat with last year.

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