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Key Figures

Key Figures

Financial Key Figures* in € million

H1 2022

H1 2023

Change in %

12M 2022

Total Segment Revenue

3,102.0

2,925.7

-5.7

6,256.9

Adjusted EBITDA Total

1,405.8

1,338.3

-4.8

2,763.1

Adjusted EBITDA Rental

1,111.7

1,198.2

7.8

2,233.5

Adjusted EBITDA Value-add

83.9

44.1

-47.4

126.7

Adjusted EBITDA Recurring Sales

82.3

37.0

-55.0

135.1

Adjusted EBITDA Development

84.9

23.8

-72.0

183.2

Adjusted EBITDA Care

43.0

35.2

-18.1

84.6

Group FFO

1,066.6

964.8

-9.5

2,035.6

thereof attributable to non-controlling interests

41.0

45.2

10.2

91.3

Group FFO after non-controlling interests

1,025.6

919.6

-10.3

1,944.3

Group FFO per share in €**

1.34

1.18

-11.9

2.56

Income from fair value adjustments of investment properties

3,115.9

-6,382.9

-1,269.8

EBT

2,887.2

-5,868.7

-732.7

Profit for the period

1,870.4

-4,130.4

-669.4

Cash flow from operating activities

1,039.6

911.4

-12.3

2,084.3

Cash flow from investing activities

1,399.9

-346.2

938.2

Cash flow from financing activities

-2,298.6

-186.3

-91.9

-3,145.1

Total cost of maintenance, modernization and new construction

1,119.9

670.4

-40.1

2,300.7

thereof for maintenance expenses and capitalized maintenance

377.2

313.1

-17.0

856.2

thereof for modernization

402.0

243.3

-39.5

837.4

thereof for new construction

340.7

114.0

-66.5

607.1

Key Balance Sheet Figures/Financial Covenants
in € million

Dec. 31, 2022

June 30, 2023

Change in %

Fair value of the real estate portfolio

94,694.5

88,242.8

-6.8

EPRA NTA

45,744.5

40,460.1

-11.6

EPRA NTA per share in €**

57.48

49.67

-13.6

LTV (%)

45.1%

47.2%

2.1 pp

Net Debt/EBITDA

15.8x

16.0x

0.2x

ICR bond covenants

5.5x

4.7x

-0.8x

Non-financial Key Figures*

H1 2022

H1 2023

Change in %

12M 2022

Number of units managed

621,846

618,516

-0.5

621,303

thereof own apartments

549,484

548,080

-0.3

548,524

thereof apartments owned by others

72,362

70,436

-2.7

72,779

Number of units bought

893

63

-92.9

969

Number of apartments sold

17,748

1,282

-92.8

19,760

thereof Recurring Sales

1,349

628

-53.4

2,710

thereof Non Core/other

16,399

654

-96.0

17,050

Number of new apartments completed

1,103

1,193

8.2

3,749

thereof own apartments

511

962

88.3

2,071

thereof apartments for sale

592

231

-61.0

1,678

Vacancy rate (in %)

2.2

2.2

2.0

Monthly in-place rent in €/m²

7.44

7.58

1.9

7.49

Organic rent increase (in %)

3.4

3.5

0.1 pp

3.3

Number of employees (as of June 30/Dec. 31)

15,845

15,764

-0.5

15,915

  1. *Previous year’s figures for 2022 comparable according to current key figure definition/segmentation for 2023.
  2. **Based on the shares carrying dividend rights on the reporting date.