Key Figures
Key Figures
Financial Key Figures in € million | 3M 2024 | 3M 2025 | Change in % | 12M 2024 | ||||
Adjusted EBITDA Total (continuing operations) | 607.0 | 698.5 | 15.1 | 2,625.1 | ||||
Adjusted EBITDA Rental | 592.9 | 592.6 | -0.1 | 2,385.7 | ||||
Adjusted EBITDA Value-add | 11.5 | 38.5 | >100 | 168.4 | ||||
Adjusted EBITDA Recurring Sales | 9.1 | 19.1 | >100 | 57.6 | ||||
Adjusted EBITDA Development | -6.5 | 48.3 | – | 13.4 | ||||
Adjusted EBT (continuing operations) | 416.5 | 478.7 | 14.9 | 1,799.6 | ||||
Adjusted EBT (continuing operations) per share in €* | 0.51 | 0.58 | 13.8 | 2.20 | ||||
Adjusted EBT (continuing operations) after minorities | 375.2 | 439.9 | 17.2 | 1,633.6 | ||||
Adjusted EBT (continuing operations) after minorities per share in €* | 0.46 | 0.53 | 16.1 | 1.99 | ||||
Income from fair value adjustments of investment properties | – | – | – | -1,559.0 | ||||
Earnings before tax (EBT)* | 409.8 | 338.8 | -17.3 | -603.4 | ||||
Profit for the period | 335.5 | 515.4 | 53.6 | -962.3 | ||||
Operating Free Cash-Flow | 501.0 | 718.0 | 43.3 | 1,900.6 | ||||
Cash flow from operating activities | 620.0 | 804.3 | 29.7 | 2,401.6 | ||||
Cash flow from investing activities | 69.0 | 353.8 | >100 | -187.6 | ||||
Cash flow from financing activities | -611.2 | -764.3 | 25.0 | -1,821.0 | ||||
Total sum of maintenance, modernization, portfolio investments and new construction | 316.6 | 409.6 | 29.4 | 1,601.0 | ||||
thereof for maintenance measures | 161.0 | 175.1 | 8.8 | 764.7 | ||||
thereof for modernization & portfolio investments | 107.8 | 181.7 | 68.6 | 611.8 | ||||
thereof for new construction | 47.8 | 52.8 | 10.5 | 224.5 | ||||
Key Balance Sheet Figures/Financial Covenants in € million | Dec. 31, 2024 | Mar. 31, 2025 | Change in % | |||||
Fair value of the real estate portfolio | 81,971.4 | 82,331.6 | 0.4 | |||||
EPRA NTA | 37,215.6 | 38,072.9 | 2.3 | |||||
EPRA NTA per share in €** | 45.23 | 46.27 | 2.3 | |||||
LTV (%) | 47.7 | 46.7 | -1.0 pp | |||||
Adjusted Net debt/Adjusted EBITDA total | 15.1x | 14.3x | -0.8x | |||||
ICR | 3.8x | 3.7x | -0.1x | |||||
Non-financial Key Figures | 3M 2024 | 3M 2025 | Change in % | 12M 2024 | ||||
Number of units managed | 613,306 | 607,404 | -1.0 | 613,153 | ||||
thereof own apartments | 543,427 | 534,566 | -1.6 | 539,753 | ||||
thereof apartments owned by others | 69,879 | 72,838 | 4.2 | 73,400 | ||||
Number of units bought | – | 1,081 | – | – | ||||
Number of units sold | 2,816 | 6,060 | >100 | 7,654 | ||||
thereof Recurring Sales | 407 | 689 | 69.3 | 2,470 | ||||
thereof Non Core/other | 2,409 | 5,371 | >100 | 5,184 | ||||
Number of new units completed | 845 | 86 | -89.8 | 3,747 | ||||
thereof own units | 153 | 38 | -75.2 | 1,276 | ||||
thereof units for sale | 692 | 48 | -93.1 | 2,471 | ||||
Vacancy rate (in %) | 2.2 | 2.1 | -0.1 pp | 2.0 | ||||
Monthly in-place rent in €/m² | 7.78 | 8.15 | 4.8 | 8.01 | ||||
Organic rent increase (in %) | 3.8 | 4.3 | 0.5 pp | 4.1 | ||||
Carbon intensity achieved in Germany (in kg CO₂e/m²) | 31.7 | 31.0 | -2.2 | 31.2 | ||||
Number of employees | 11,999 | 12,306 | 2.6 | 12,056 | ||||
- **Based on the weighted average number of shares carrying dividend rights.
- **Based on the shares carrying dividend rights on the reporting date.