Key Figures
Key Figures
Financial Key Figures in € million | 3M 2025 | 3M 2026 | Change in % | 12M 2025 | ||||
Adjusted EBITDA Total (continuing operations)* | 701.9 | 711.6 | 1.4 | 2,800.8 | ||||
Adjusted EBITDA Rental | 592.6 | 629.7 | 6.3 | 2,445.0 | ||||
Adjusted EBITDA Value-add | 38.5 | 50.1 | 30.1 | 197.5 | ||||
Adjusted EBITDA Recurring Sales | 19.1 | 18.2 | -4.7 | 83.2 | ||||
Adjusted EBITDA Development* | 51.7 | 13.6 | -73.7 | 75.1 | ||||
Adjusted EBT (continuing operations)* | 482.1 | 462.2 | -4.1 | 1,904.3 | ||||
Adjusted EBT (continuing operations) per share in €** | 0.59 | 0.54 | -7.0 | 2.29 | ||||
Adjusted earnings for the period attributable to minorities | 33.7 | 50.7 | 50.4 | 165.5 | ||||
Adjusted earnings for the period attributable to Vonovia’s shareholders | 394.0 | 365.6 | -7.2 | 1,541.0 | ||||
Adjusted earnings for the period attributable to Vonovia’s shareholders per share in €** | 0.48 | 0.43 | -10.0 | 1.85 | ||||
Income from fair value adjustments of investment properties | – | – | – | 1,390.0 | ||||
Earnings before tax (EBT) | 338.8 | 388.0 | 14.5 | 2,527.7 | ||||
Profit for the period | 515.4 | 250.3 | -51.4 | 4,185.5 | ||||
Operating Free Cash-Flow*** | 633.6 | 363.9 | -42.6 | 1,778.5 | ||||
Cash flow from operating activities | 804.3 | 553.1 | -31.2 | 2,448.3 | ||||
Cash flow from investing activities | 353.8 | -109.7 | – | -127.1 | ||||
Cash flow from financing activities | -764.3 | -1,897.4 | >100 | -878.4 | ||||
Total sum of maintenance, modernization, portfolio investments and new construction (to hold) | 409.6 | 441.9 | 7.9 | 1,972.7 | ||||
thereof for maintenance measures | 175.1 | 175.6 | 0.3 | 811.2 | ||||
thereof for modernization & portfolio investments | 181.7 | 202.2 | 11.3 | 807.5 | ||||
thereof for new construction (to hold) | 52.8 | 64.1 | 21.4 | 354.0 | ||||
Key Balance Sheet Figures/Financial Indicators in € million | Dec. 31, 2025 | Mar. 31, 2026 | Change in %***** | |||||
Fair value of the real estate portfolio | 84,448.2 | 84,698.1 | 0.3 | |||||
EPRA NTA | 39,253.7 | 39,514.2 | 0.7 | |||||
EPRA NTA per share in €**** | 46.28 | 46.57 | 0.6 | |||||
LTV (%) | 45.4 | 45.1 | -0.3 pp | |||||
Adjusted Net debt/Adjusted EBITDA Total | 13.8x | 13.7x | -0.1x | |||||
ICR (Adj. EBITDA Total/Adj. financial result) | 3.8x | 3.7x | -0.1x | |||||
Non-financial Key Figures | 3M 2025 | 3M 2026 | Change in %***** | 12M 2025 | ||||
Number of units managed | 607,404 | 606,145 | -0.2 | 607,234 | ||||
thereof own apartments | 534,566 | 530,506 | -0.8 | 530,979 | ||||
thereof apartments owned by others | 72,838 | 75,639 | 3.8 | 76,255 | ||||
Number of units bought | 1,081 | 761 | -29.6 | 2,082 | ||||
Number of units sold | 6,060 | 1,250 | -79.4 | 11,306 | ||||
thereof Recurring Sales | 689 | 348 | -49.5 | 2,333 | ||||
thereof Non Core/Other | 5,371 | 902 | -83.2 | 8,973 | ||||
Number of new units completed | 86 | 303 | >100 | 2,090 | ||||
thereof own units | 38 | 21 | -44.7 | 800 | ||||
thereof units for sale | 48 | 282 | >100 | 1,290 | ||||
Vacancy rate (in %) | 2.1 | 2.3 | 0.2 pp | 2.1 | ||||
Monthly in-place rent in €/m² | 8.15 | 8.46 | 3.8 | 8.38 | ||||
Organic rent increase (in %) | 4.3 | 4.0 | -0.3 pp | 4.1 | ||||
Carbon intensity achieved in Germany (in kg CO₂e/m²) | 31.0 | 30.9 | -0.3 | 30.7 | ||||
Number of employees (continuing operations) | 12,306 | 12,898 | 4.8 | 12,708 | ||||
- *In accordance with the current definition of key figures including restatements for impairment losses/reversals of impairment losses from development-to-sell projects (previous year adjustment: +€ 3.4 million).
- **Based on the weighted average number of shares carrying dividend rights.
- ***In accordance with the current definition of key figures including intragroup profits/losses and specification of net working capital.
- ****Based on the shares carrying dividend rights on the reporting date.
- *****Unless otherwise specified.