Factsheet
as of September 30, 2026
Company Profile
Vonovia SE is Europe’s leading private residential real estate company. Vonovia currently owns around 527,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 75,000 apartments. Its portfolio is worth approximately € 85.7 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 13,000 employees.
Management Board
Luka Mucic; Arnd Fittkau; Philip Grosse; Ruth Werhahn; Katja Wünschel
Supervisory Board
Clara-Christina Streit; Vitus Eckert; Birgit M. Bohle; Jürgen Fenk; Dr. Florian Funck; Dr. Daniela Gerd tom Markotten; Dr. Anne-Marie Großmann-Minkwitz, Dr. Ariane Reinhart; Michael Rüdiger; Dr. Marcus Schenck
Share Information (as of September 30, 2026)
Share Information (as of September 30, 2026) | ||
First day of trading | July 11, 2013 | |
Subscription price | € 16.50 | € 14.71* | |
Total number of shares | 848,486,575 | |
Share capital | € 848,486,575 | |
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, DivDax, DAX 50 ESG, Dow Jones Best-in-Class Europe Index, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe and GPR 250 World | |
- *TERP-adjusted.
Key Figures
Key Figures
Financial Key Figures in € million | 9M 2025 | 9M 2026 | Change in % | 12M 2025 | ||||
Adjusted EBITDA Total (continuing operations)* | 2,118.1 | 2,187.4 | 3.3 | 2,800.8 | ||||
Adjusted EBITDA Rental | 1,847.0 | 1,912.2 | 3.5 | 2,445.0 | ||||
Adjusted EBITDA Value-add | 150.1 | 197.2 | 31.4 | 197.5 | ||||
Adjusted EBITDA Recurring Sales | 56.6 | 49.9 | -11.8 | 83.2 | ||||
Adjusted EBITDA Development* | 64.4 | 28.1 | -56.4 | 75.1 | ||||
Adjusted EBT (continuing operations)* | 1,459.6 | 1,408.0 | -3.5 | 1,904.3 | ||||
Adjusted EBT (continuing operations) per share in €** | 1.76 | 1.66 | -5.9 | 2.29 | ||||
Adjusted earnings for the period attributable to minorities | 116.5 | 142.9 | 22.7 | 165.5 | ||||
Adjusted earnings for the period attributable to Vonovia’s shareholders | 1,200.8 | 1,121.4 | -6.6 | 1,541.0 | ||||
Adjusted earnings for the period attributable to Vonovia’s shareholders per share in €** | 1.45 | 1.32 | -8.9 | 1.85 | ||||
Income from fair value adjustments of investment properties | 516.2 | 848.1 | 64.3 | 1,390.0 | ||||
Earnings before tax (EBT) | 1,226.2 | 2,059.9 | 68.0 | 2,527.7 | ||||
Profit for the period | 3,408.6 | 1,309.8 | -61.6 | 4,185.5 | ||||
Operating Free Cash-Flow* | 1,414.6 | 932.5 | -34.1 | 1,778.5 | ||||
Cash flow from operating activities | 1,948.0 | 1,535.5 | -21.2 | 2,448.3 | ||||
Cash flow from investing activities | -91.0 | -611.2 | >100 | -127.1 | ||||
Cash flow from financing activities | -660.8 | -2,812.3 | >100 | -878.4 | ||||
Total sum of maintenance measures, modernization & portfolio | 1,356.5 | 1,556.9 | 14.8 | 1,972.7 | ||||
thereof for maintenance measures | 565.1 | 605.1 | 7.1 | 811.2 | ||||
thereof for modernization & portfolio investments | 590.5 | 747.2 | 26.5 | 807.5 | ||||
thereof for new construction (to hold) | 200.9 | 204.6 | 1.8 | 354.0 | ||||
Key Balance Sheet Figures/Financial Indicators in € million | Dec. 31, 2025 | Sep. 30, 2026 | Change in %**** | |||||
Fair value of the real estate portfolio | 84,448.2 | 85,750.0 | 1.5 | |||||
EPRA NTA | 39,253.7 | 39,290.8 | 0.1 | |||||
EPRA NTA per share in €*** | 46.28 | 46.31 | 0.1 | |||||
LTV (%) | 45.4 | 46.1 | 0.7 pp | |||||
Adjusted Net debt/Adjusted EBITDA Total | 13.8x | 13.9x | 0.1x | |||||
ICR (Adj. EBITDA Total/Adj. financial result) | 3.8x | 3.5x | -0.3x | |||||
Non-financial Key Figures | 9M 2025 | 9M 2026 | Change in %**** | 12M 2025 | ||||
Number of units managed | 608,250 | 602,455 | -1.0 | 607,234 | ||||
thereof own apartments | 532,558 | 527,488 | -1.0 | 530,979 | ||||
thereof apartments owned by others | 75,692 | 74,967 | -1.0 | 76,255 | ||||
Number of units bought | 1,694 | 842 | -50.3 | 2,082 | ||||
Number of units sold | 9,038 | 4,508 | -50.1 | 11,306 | ||||
thereof Recurring Sales | 1,553 | 965 | -37.9 | 2,333 | ||||
thereof Non Core/Other | 7,485 | 3,543 | -52.7 | 8,973 | ||||
Number of new units completed | 1,555 | 513 | -67.0 | 2,090 | ||||
thereof own units | 531 | 90 | -83.1 | 800 | ||||
thereof units for sale | 1,024 | 423 | -58.7 | 1,290 | ||||
Vacancy rate (in %) | 2.2 | 2.3 | 0.1 pp | 2.1 | ||||
Monthly in-place rent in €/m² | 8.28 | 8.57 | 3.5 | 8.38 | ||||
Organic rent increase (in %) | 4.2 | 3.8 | -0.4 pp | 4.1 | ||||
Carbon intensity achieved in Germany (in kg CO₂e/m²) | 30.7 | 29.1 | -5.2 | 30.7 | ||||
Number of employees (continuing operations) | 12,521 | 13,162 | 5.1 | 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 9M 2026: €-4.2 million (previous year adjustment 9M 2025: € +3.4 million). In the OFCF "Change in capital commitment Development to sell" 9M 2025: €248.3 million has been replaced by the "Change in net working capital Development to sell/Manage to Green".
- **Based on the weighted average number of shares carrying dividend rights.
- ***Based on the shares carrying dividend rights on the reporting date.
- ****Unless otherwise specified.