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Vonovia Q1 FFO Rises On Higher Revenues; Confirms FY22 Outlook - Quick Facts

German real estate company Vonovia SE (VONOY) reported Thursday that its first-quarter Group funds from operations or FFO grew 7.7 percent to 420.5 million euros from 390.5 million euros a year ago.

Including Deutsche Wohnen, FFO climbed 44.4 percent from last year to 564.0 million euros.

FFO per share was 0.73 euro, an increase of 12.3 percent from last year's 0.65 euro.

The company recorded loss for the period of 29.1 million euros, compared to last year's profit of 247.0 million euros.

Adjusted EBITDA Total grew 44.2 percent from last year to 729.7 million euros.

The Adjusted EBITDA Rental edged up 0.9 percent.

Total segment revenue grew 42.6 percent to 1.63 billion euros from last year's 1.15 billion euros. The increase was largely due to Deutsche Wohnen, which contributed a volume of 286.3 million euros in 2022.

Looking ahead, Vonovia has confirmed its guidance of at least 20 percent growth for revenue, EBITDA and Group FFO for the 2022 financial year.

Segment Revenue Total is likely to be between 6.2 billion euros and 6.4 billion euros, and Vonovia is expecting its Adjusted EBITDA Total to range between 2.75 billion euros and 2.85 billion euros. This will also cause an increase in its Group FFO within a range of 2.0 billion euros and 2.1 billion euros.

Based on the very good development at the start of the year, Vonovia expects to achieve all targets of the Sustainability Performance Index or SPI.

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