Vonovia FY FFO Increases - Quick Facts

German real estate company Vonovia SE (DAIMF) reported that its group funds from operations for fiscal year 2021 increased by 24% to about 1.7 billion euros from the prior year.

EBITDA rose 18.8% year-over-year to 2.3 billion euros.

Total segment revenues improved to 5.18 billion euros from 4.37 billion euros in the previous year.

The company said its board will propose a dividend of 1.66 euros per share to the shareholders at the virtual AGM in April 2022.

In the 2022 financial year, Vonovia will continue to invest heavily in modernization and new builds, with a volume between 2.1 billion euros and 2.5 billion euros. It anticipates to increase turnover, EBITDA and Group FFO by more than 20%. Total segment revenues are likely to be between 6.2 billion euros and 6.4 billion euros.

Vonovia expects its Adjusted EBITDA Total to range between 2.75 billion euros and 2.85 billion euros. This will also lead to an increase in its Group FFO, which range between 2.0 billion euros and 2.1 billion euros.

In 2022 Vonovia plans to build 3,600 new flats. In the long term, Vonovia can potentially add around 50,000 new flats and thus make a major contribution to the German government's new-build offensive.

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