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.