Key Figures
Key Figures
Financial Key Figures in € million | 2021 | 2022 | 2023 | 2024* | 2025 | ||||||
Adjusted EBITDA Total (continuing operations) | 2,254.4 | 2,606.1 | 2,583.8 | 2,641.8 | 2,800.8 | ||||||
Adjusted EBITDA Rental | 1,778.5 | 2,254.3 | 2,401.7 | 2,385.7 | 2,445.0 | ||||||
Adjusted EBITDA Value-add | 153.8 | 126.7 | 105.5 | 168.4 | 197.5 | ||||||
Adjusted EBITDA Recurring Sales | 113.2 | 135.1 | 63.4 | 57.6 | 83.2 | ||||||
Adjusted EBITDA Development | 185.4 | 90.0 | 13.2 | 30.1 | 75.1 | ||||||
Adjusted EBT (continuing operations) | 1,997.3 | 1,866.2 | 1,816.3 | 1,904.3 | |||||||
Adjusted EBT (continuing operations) per share in €** | 2.53 | 2.31 | 2.22 | 2.29 | |||||||
Adjusted earnings for the period attributable to minorities | 142.7 | 165.5 | |||||||||
Adjusted earnings for the period attributable to Vonovia's shareholders | 1,463.0 | 1,541.0 | |||||||||
Adjusted earnings for the period attributable to Vonovia's shareholders per share in €** | 1.79 | 1.85 | |||||||||
Income from fair value adjustments of investment properties | 7,393.8 | -1,177.6 | -10,651.2 | -1,559.0 | 1,390.0 | ||||||
Earnings before tax (EBT) | 5,092.0 | -604.6 | -9,185.2 | -603.4 | 2,527.7 | ||||||
Profit for the period | 2,440.5 | -669.4 | -6,756.2 | -962.3 | 4,185.5 | ||||||
Operating Free Cash-Flow*** | 1,821.4 | 1,414.8 | 1,832.2 | 1,778.5 | |||||||
Cash flow from operating activities | 1,823.9 | 2,084.3 | 1,901.2 | 2,401.6 | 2,448.3 | ||||||
Cash flow from investing activities | -19,115.8 | 938.2 | -825.9 | -187.6 | -127.1 | ||||||
Cash flow from financing activities | 18,125.0 | -3,145.1 | -961.0 | -1,821.0 | -878.4 | ||||||
Total sum of maintenance, modernization, portfolio investments and new construction (to hold) | 2,185.6 | 2,266.3 | 1,527.0 | 1,601.0 | 1,972.7 | ||||||
thereof for maintenance measures | 753.3 | 856.5 | 722.5 | 764.7 | 811.2 | ||||||
thereof for modernization & portfolio investments | 792.4 | 837.4 | 513.3 | 611.8 | 807.5 | ||||||
thereof for new construction (to hold) | 639.9 | 572.4 | 291.2 | 224.5 | 354.0 | ||||||
Key Balance Sheet Figures/Financial Indicators in € million | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2024 | Dec. 31, 2025 | ||||||
Fair value of the real estate portfolio | 97,845.3 | 94,694.5 | 83,927.7 | 81,971.4 | 84,448.2 | ||||||
EPRA NTA | 48,640.8 | 45,744.5 | 38,140.9 | 37,215.6 | 39,253.7 | ||||||
EPRA NTA per share in €**** | 62.63 | 57.48 | 46.82 | 45.23 | 46.28 | ||||||
LTV (%) | 45.4 | 45.1 | 47.3 | 47.7 | 45.4 | ||||||
Adjusted Net debt/Adjusted EBITDA Total | 15.7x | 15.6x | 15.1x | 13.8x | |||||||
ICR (Adj. EBITDA Total/Adj. financial result) | 4.1x | 3.7x | 3.8x | ||||||||
Non-financial Key Figures | 2021 | 2022 | 2023 | 2024 | 2025 | ||||||
Number of units managed | 636,507 | 621,303 | 617,343 | 613,153 | 607,234 | ||||||
thereof own apartments | 565,334 | 548,524 | 545,919 | 539,753 | 530,979 | ||||||
thereof apartments owned by others | 71,173 | 72,779 | 71,424 | 73,400 | 76,255 | ||||||
Average area of own apartments in the reporting period (in thou. m²) | 28,784 | 34,525 | 34,349 | 34,042 | 33,482 | ||||||
Average number of own units (number of units) | 452,868 | 550,342 | 547,905 | 543,026 | 533,718 | ||||||
Maintenance expenses and capitalized maintenance (€/m²) | 26.17 | 24.81 | 21.03 | 22.46 | 24.23 | ||||||
thereof expenses for maintenance (€/m²) | 13.01 | 12.86 | 12.41 | 13.82 | 14.46 | ||||||
thereof capitalized maintenance (€/m²) | 13.16 | 11.95 | 8.62 | 8.64 | 9.77 | ||||||
Number of units bought | 155,145 | 969 | 63 | – | 2,082 | ||||||
Number of units sold | 6,965 | 19,760 | 3,838 | 7,654 | 11,306 | ||||||
thereof Recurring Sales | 2,803 | 2,710 | 1,590 | 2,470 | 2,333 | ||||||
thereof Non Core/Other | 4,162 | 17,050 | 2,248 | 5,184 | 8,973 | ||||||
Number of new units completed***** | 2,200 | 3,749 | 2,460 | 3,747 | 2,090 | ||||||
thereof own units***** | 1,373 | 2,071 | 1,332 | 1,276 | 800 | ||||||
thereof units for sale***** | 827 | 1,678 | 1,128 | 2,471 | 1,290 | ||||||
Vacancy rate (in %) | 2.2 | 2.0 | 2.0 | 2.0 | 2.1 | ||||||
Monthly in-place rent in €/m² | 7.33 | 7.49 | 7.74 | 8.01 | 8.38 | ||||||
Organic rent increase (in %) | 3.8 | 3.3 | 3.8 | 4.1 | 4.1 | ||||||
Sustainability Performance Index (in %)****** | 109 | 103 | 111 | 104 | 106 | ||||||
Carbon intensity achieved in Germany (in kg CO₂e/m²) | 38.4 | 33.0 | 31.7 | 31.2 | 30.7 | ||||||
Number of employees (continuing operations)***** | 15,871 | 12,117 | 11,946 | 12,056 | 12,708 | ||||||
- *Figures for 2024 comparable according to current key figure definition.
- **2021 based on the shares carrying dividend rights on the reporting date, 2022–2025 based on the weighted average number of shares carrying dividend rights.
- ***Figures for 2021–2023 as reported, figures for 2024 comparable according to current key figure definition including intragroup profits/losses and specification of net working capital.
- ****Based on the shares carrying dividend rights on the reporting date.
- *****Figures for 2021/2022 as reported, figures for 2023/2024 comparable according to current key figure definition.
- ******2021/2022 excluding Deutsche Wohnen. 2023–2025 including Deutsche Wohnen (excluding Care segment).