Deutsche Wohnen SE (DWHHF.PK), a German property company majority owned by Vonovia SE, on Friday reported that fiscal 2021 Funds from operations or FFO I was 553.6 million euros, up 2.4 percent from last year.
FFO I per share was 1.54 euros, in line with the company's forecast.
Annual earnings fell to 919.0 million euros, mainly because of lower earnings from disposals and one-off, transaction-related expenses.
The adjusted EBITDA, without disposals, grew 1.6 percent to 715.8 million euros from last year's 704.8 million euros.
Deutsche Wohnen generated a stable gross rental income of 843.6 million euros despite reducing its property holdings due to disposals.
The revaluation of the portfolio led to an increase in the Net Asset Value or NAV to 21.59 billion euros. This corresponds to a NAV per share of 54.39 euros, up 4.7 percent compared to the previous year.
The company plans to publish the consolidated annual financial statements for the financial year 2021 on March 31.
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