Deutsche Wohnen FY21 Earnings Drop

Deutsche Wohnen AG (DWHHF.PK), a German property company, on Thursday posted a decline in its earnings for the fiscal 2021, citing decreased disposals activity, goodwill amortization, fair value adjustments of convertible bonds, and transaction-related one-off costs in connection with the merger of Vonovia SE.

The company's Funds From Operations also fell slightly for the year.

For the fiscal 2021, the property firm reported a post tax-profit of 919 million euros, compared with 1.55 billion euros, reported a year ago.

The Group registered its earnings before taxes of 1.77 billion euros as against 2.25 billion euros, reported for the previous year.

In line with its previous projections, the company reported an FFO of 1.54 euros per share, a fall of 0.6 percent, compared with the previous year.

For the 12-month period, Deutsche Wohnen generated an EBITDA of 634.68 million euros versus, 686.7 million euros, on year-on-year basis.

The company posted a decline in its earnings from disposals for the period at 2 million euros, compared with 20.4 million euros of last year.

Looking ahead, for the fiscal 2022, Deutsche Wohnen expects an FFO of 490 million euros.

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