
Vonovia is a German real estate company. The company owns and manages around 400,000 residential units throughout Germany and Austria, and also manages approximately 60,000 units for third parties. It is listed on the XETRA and currently has a market capitalisation of €32 billion.
Good H1 results
Vonovia issued a good set of H1 results last week. For the period, adjusted EBITDA increased by 8% to €942 million while group FFO (operating earnings) rose by 11% to €676 million. The value of its real estate portfolio, after stripping out liabilities, grew by 5.4% to €29.7 billion. "We have weathered the coronavirus crisis well so far," said CEO Rolf Buch. "This means that we can do a lot for our tenants and live up to our social responsibility," he added.