Investor Relations Activities

In 2024, Vonovia participated in a total of 31 investors’ conference days and also organized 37 roadshow days. In addition, Vonovia took part in various investor forums and numerous one-on-one meetings with investors and analysts to keep them informed of current developments and special issues. In 2024, we held many hundreds of talks with analysts and investors. The dominant topics included the company’s strategic growth initiatives, capital allocation, the business outlook in the changed macroeconomic environment, the capital structure, and transaction activity in the residential real estate market.

As part of the investor dialogue, the Chair of the Supervisory Board conducts an annual corporate governance roadshow spanning several days, in particular addressing topics specific to the Supervisory Board, such as Management Board remuneration and the work and composition of the Supervisory Board and the relevant committees. In February 2024, for example, the Chair of the Supervisory Board, Clara-Christina Streit, engaged in intensive dialogue with investors in the context of this roadshow. Talks were held with a number of major investors in the fall of 2024, during which the Chair of the Supervisory Board explained and discussed the motivations behind changes to the remuneration system for Management Board members with the investors.

We will also continue to communicate openly with the capital market in 2025. Various roadshows, conferences and investor forums have already been planned. Information can be found in the Financial Calendar on our Investor Relations website.

Our IR activities are aimed at ensuring a transparent communications policy based on trust, the aim being to further raise Vonovia’s profile on the capital market and also to provide the capital market with all information that is relevant to the company.

The stakeholder groups that are relevant to our IR work are private shareholders, institutional shareholders and analysts. Alongside conventional formats such as reporting and the Annual General Meeting, we also interact with our institutional shareholders at roadshows and conferences. What is more, we organize an annual corporate governance roadshow with our Supervisory Board Chair. Every two years, we organize an analysts’ and investors’ day to present current topics and strategic perspectives as part of a face-to-face event. As far as our private shareholders are concerned, we are represented in various private investor forums, attending both virtual and in-person events throughout the year.

A detailed description of our other stakeholders is available here.

Positive Analyst Assessments

As of December 31, 2024, 25 analysts were publishing studies on Vonovia on a regular basis. The average target share price at the end of the year was € 36.46 per share, with 72% of analysts issuing a “buy” recommendation, 8% issuing a “hold” recommendation and 20% issuing a “sell” recommendation.

For information on the research firms that regularly report on Vonovia and value its shares, please visit our Investor Relations website.

Dividend

The Management Board and the Supervisory Board propose to the Annual General Meeting that, of the profit of Vonovia SE for the 2024 fiscal year of € 1,100,000,000.00, an amount of € 1,003,880,568.50 on the 822,852,925 shares of the share capital as of December 31, 2024 (corresponding to € 1.22 per share) be paid as a dividend to the shareholders, and that the remaining amount of € 96,119,431.50 be carried forward to the new account or be used for other dividends on shares carrying dividend rights at the time of the Annual General Meeting and which go beyond those as of December 31, 2024.