Factsheet
as of March 14, 2024
Company Profile
Vonovia SE is Europe’s leading private residential real estate company. Vonovia currently owns around 546,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 71,000 apartments. Its portfolio is worth approximately € 83.9 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company’s successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.
The company, which is based in Bochum, has been listed on the stock exchange since 2013. Since September 2015 Vonovia has been a constituent in the DAX 30 (today DAX 40). Vonovia SE is also a constituent of additional national and international indices, including DAX 50 ESG, Dow Jones Sustainability Index Europe, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe, and GPR 250 World. Vonovia has a workforce of approximately 12,000 employees.
Management Board
Rolf Buch (Chairman of the Management Board); Arnd Fittkau; Philip Grosse; Daniel Riedl; Ruth Werhahn
Supervisory Board
Clara-Christina Streit; Vitus Eckert; Jürgen Fenk; Dr. Florian Funck; Dr. Ute Geipel-Faber; Dr. Daniela Gerd tom Markotten; Matthias Hünlein; Hildegard Müller; Dr. Ariane Reinhart; Christian Ulbrich
Share Information (as of December 31, 2023)
Share Information (as of December 31, 2023) | ||
First day of trading | Jul. 11, 2013 | |
Subscription price | € 16.50 | € 14.71* | |
Total number of shares | 814,644,998 | |
Share capital | € 814,644,998 | |
ISIN | DE000A1ML7J1 | |
WKN | A1ML7J | |
Ticker symbol | VNA | |
Common code | 94567408 | |
Share class | Registered shares with no par value | |
Stock exchange | Frankfurt Stock Exchange | |
Market segment | Regulated market | |
Indices | DAX 40, DAX 50 ESG, Dow Jones Sustainability Index Europe, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe and GPR 250 World | |
- * TERP-adjusted.
Financial Calendar
March 15, 2024
Publication of the 2023 Annual Report
April 30, 2024
Publication of the interim statement for 3M 2024
May 8, 2024
Annual General Meeting (virtual)
August 2, 2024
Publication of the interim financial report for 6M 2024
November 6, 2024
Publication of the interim statement for 9M 2024
Key Figures
Key Figures
Financial Key Figures in € million | 2019 | 2020 | 2021 | 2022 | 2023 | ||||||
Total Segment Revenue | 4,111.7 | 4,370.0 | 5,216.6 | 5,566.2 | 5,151.1 | ||||||
Total Segment Revenue from discontinued operations | 256.8 | 266.8 | |||||||||
Adjusted EBITDA Total | 1,760.1 | 1,909.8 | 2,254.4 | 2,606.1 | 2,583.8 | ||||||
Adjusted EBITDA Rental | 1,437.4 | 1,554.2 | 1,778.5 | 2,254.3 | 2,401.7 | ||||||
Adjusted EBITDA Value-add | 146.3 | 152.3 | 153.8 | 126.7 | 105.5 | ||||||
Adjusted EBITDA Recurring Sales | 91.9 | 92.4 | 113.2 | 135.1 | 63.4 | ||||||
Adjusted EBITDA Development* | 84.5 | 110.9 | 185.4 | 90.0 | 13.2 | ||||||
Adjusted EBITDA Care Business | 23.5 | – | – | ||||||||
Adjusted EBITDA from discontinued | – | – | – | 63.8 | 53.9 | ||||||
Group FFO (continuing operations)* | 1,218.6 | 1,348.2 | 1,694.4 | 1,981.6 | 1,801.6 | ||||||
thereof attributable to Vonovia | 1,165.6 | 1,292.0 | 1,624.4 | 1,895.0 | 1,717.8 | ||||||
thereof attributable to Vonovia hybrid | 40.0 | 40.0 | 30.0 | – | – | ||||||
thereof attributable to non-controlling | 13.0 | 16.2 | 40.0 | 86.6 | 83.8 | ||||||
Group FFO after non-controlling interests | 1,205.6 | 1,332.0 | 1,654.4 | 1,895.0 | 1,717.8 | ||||||
Group FFO per share (continuing operations) in €** | 2.11 | 2.23 | 2.18 | 2.51 | 2.23 | ||||||
Group FFO (discontinued operations)* | 54.0 | 45.5 | |||||||||
Income from fair value adjustments of | 4,131.5 | 3,719.8 | 7,393.8 | -1,177.6 | -10,651.2 | ||||||
EBT* | 3,138.9 | 5,014.4 | 5,092.0 | -604.6 | -9,185.2 | ||||||
Profit for the period | 1,294.3 | 3,340.0 | 2,440.5 | -669.4 | -6,756.2 | ||||||
Cash flow from operating activities | 1,555.9 | 1,430.5 | 1,823.9 | 2,084.3 | 1,901.2 | ||||||
Cash flow from investing activities | -2,505.7 | -1,729.9 | -19,115.8 | 938.2 | -825.9 | ||||||
Cash flow from financing activities | 902.8 | 402.6 | 18,125.0 | -3,145.1 | -961.0 | ||||||
Total cost of maintenance, modernization and new construction* | 1,971.1 | 1,935.9 | 2,185.6 | 2,266.3 | 1,484.5 | ||||||
thereof for maintenance expenses and capitalized maintenance* | 481.6 | 592.0 | 753.3 | 856.5 | 722.5 | ||||||
thereof for modernization* | 996.5 | 908.4 | 792.4 | 837.4 | 470.8 | ||||||
thereof for new construction* | 493.0 | 435.5 | 639.9 | 572.4 | 291.2 | ||||||
LTV (%) | 43.1 | 39.4 | 45.4 | 45.1 | 47.3 | ||||||
Net debt/EBITDA | 14.3x | 15.8x | 16.5x | ||||||||
ICR | 5.8x | 5.5x | 4.0x | ||||||||
Key Balance Sheet Figures in € million | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2023 | ||||||
Fair value of the real estate portfolio | 53,316.4 | 58,910.7 | 97,845.3 | 94,694.5 | 83,927.7 | ||||||
EPRA NTA | 29,762.2 | 35,488.6 | 48,640.8 | 45,744.5 | 38,140.9 | ||||||
EPRA NTA per share in €*** | 51.44 | 58.78 | 62.63 | 57.48 | 46.82 | ||||||
Non-financial Key Figures | 2019 | 2020 | 2021 | 2022 | 2023 | ||||||
Number of units managed | 494,927 | 489,709 | 636,507 | 621,303 | 617,343 | ||||||
thereof own apartments | 416,236 | 415,688 | 565,334 | 548,524 | 545,919 | ||||||
thereof apartments owned by others | 78,691 | 74,021 | 71,173 | 72,779 | 71,424 | ||||||
Number of units bought | 23,987 | 1,711 | 155,145 | 969 | 63 | ||||||
Number of apartments sold | 4,784 | 3,677 | 6,965 | 19,760 | 3,838 | ||||||
thereof Recurring Sales | 2,607 | 2,442 | 2,803 | 2,710 | 1,590 | ||||||
thereof Non Core/other | 2,177 | 1,235 | 4,162 | 17,050 | 2,248 | ||||||
Number of new apartments completed | 2,092 | 2,088 | 2,200 | 3,749 | 2,425 | ||||||
thereof own apartments | 1,301 | 1,442 | 1,373 | 2,071 | 1,309 | ||||||
thereof apartments for sale | 791 | 646 | 827 | 1,678 | 1,116 | ||||||
Vacancy rate (in %) | 2.6 | 2.4 | 2.2 | 2.0 | 2.0 | ||||||
Monthly in-place rent in €/m² | 7.33 | 7.49 | 7.74 | ||||||||
Organic rent increase (in %) | 3.8 | 3.3 | 3.8 | ||||||||
Sustainability Performance Index (in %)**** | 109.0 | 103.0 | 111.0 | ||||||||
Carbon intensity achieved in Germany (in kg CO₂e/m²) | 47.2 | 39.5 | 38.4 | 33.0 | 31.7 | ||||||
Number of employees (as of Dec. 31)* | 10,345 | 10,622 | 15,871 | 12,117 | 11,977 | ||||||
- *Figures for 2019–2021 as reported, previous year’s figures (2022) comparable according to current key figure and segment definition for 2023. -> [A2] Adjustment to Prior-year Figures.
- **2019–2021 based on the shares carrying dividend rights on the reporting date, 2019/2020 prior-year values TERP-adjusted (1.067), 2022/2023 based on the weighted average number of shares carrying dividend rights.
- ***Based on the shares carrying dividend rights on the reporting date.
- ****2021/2022 excluding Deutsche Wohnen. 2023 including Deutsche Wohnen (excluding Care segment and SYNVIA).