Vonovia has recorded double -digit growth rates in the operational profits and the bottom line, led the debt into the target corridor and improved the Operating Cashflow.
For the annual targets 2025 and the 2028 destinations, the Bochumer Group sees itself on course, which will get a new CEO at the end of the year.
In the opening quarter, the residential property group increased the adjusted profit (Adjusted EBITDA Total) by 15 percent to 698.5 million euros. The largest EBITDA contribution from the rental business remained stable, but Vonovia increased EBITDA in all other segments – which the Value -Add, Recurring Sales, and Development Group calls.
The pre -tax gain (Adjusted EBT) relevant to the dividend also put around 15 percent at EUR 478.7 million, and it was 0.58 euros per share after 0.51 euros. All indicators refer to the continued business areas.
After taxes, Vonovia increased the profit by around 54 percent to 515.4 million euros.
Operating Free Cashflow, which was also important for the dividend, rose by 43.3 percent to 515.4 million euros.
Vonovia continues to strive for an adjusted EBITDA from 2.7 to 2.8 billion euros as well as an Adjusted EBT of 1.75 to 1.85 billion. In 2028, the adjusted EBITDA is to continue to land at a range of 3.2 to 3.5 billion euros.
New CEO
Vonovia receives a new CEO at the latest at the latest. As the group announced, the Supervisory Board with CEO Rolf Buch has agreed on an early termination of the contract in order to enable an orderly long -term succession at the head of the residential property group.
Buchs is said to be Luka Mucic, CFO and Executive Director of the Vodafone Group PLC. Mucic, previously long-time CFO and COO at SAP, is to be appointed to the Vonovia board at the end of the fourth quarter.
Book will resign his mandate as a CEO and board member at the end of the year, at the latest on December 31.
Jefferies leaves Vonovia on ‘Hold’ – destination 28 euros
The Jefferies analysis house left the classification for Vonovia to “Hold” with a price target of 28 euros after quarters. The property group’s figures were good, wrote Pierre-Emmanuel Clouard in a first reaction available on Tuesday.
JPmorgan leaves Vonovia on ‘Overweight’ – destination 34 euros
The US bank JPmorgan left the classification for Vonovia after quarterly to “Overweight” with a price target of 34 euros. The results fully confirmed the defensive surgical qualities of the residential property group, wrote Neil Green in a first reaction on Tuesday.
The Vonovia share was ultimately 2.57 percent higher in Xetra trading at 30.34 euros.
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