AI Terminal
Deutsche Wohnen SE
Earnings Release • May 13, 2025
113_rns_2025-05-13_f44ad3c0-3265-4d81-86ae-ceac8bb43baa.pdf
Earnings Release
Open in ViewerOpens in native device viewer
Quarterly Update
Interim Results January to March 2025
Deutsche Wohnen: Positive Performance in the first three months of 2025
- Adj. EBT (continuing operations) of €187.6 million (€0.47 per share)
- NAV at €16,826.4 million (€42.39 per share)
- Vacancy rate remains at very low level
Berlin, May 13, 2025. In a challenging environment for the real estate industry, Deutsche Wohnen SE delivered a positive operating performance in the first three months of 2025.
The Adjusted EBITDA Rental was €162.1 million (+1.1%). The in-place rent per square meter was €8.09 (+4.3%). The vacancy rate remained at a very low level of 1.5%.
Other relevant KPIs also developed in line with expectations. The Adjusted EBT was €187.6 million, which was clearly above the prior-year level. On a per-share basis, the Adjusted EBT came to €0.47. The NAV (formerly EPRA NTA) increased by 1.5% since year-end 2024 to €16,826.4 million or €42.39 per share. The LTV was at 29.0%.
The forecasts for the 2025 financial year remain unchanged.
Deutsche Wohnen SE Contact Mecklenburgische Straße 57 phone: +49 30 897 86 5413 14197 Berlin fax: +49 30 897 86 5419 deutsche-wohnen.com [email protected] 1
Key numbers
| Financial KPIs | 3M 2025 | 3M 2024 | Change | |
|---|---|---|---|---|
| Adjusted EBITDA Rental | € million | 162.1 | 160.4 | +1.1% |
| Adjusted EBITDA Value-add | € million | 2.3 | 3.1 | -25.8% |
| Adjusted EBITDA Recurring Sales | € million | 0.3 | 0.1 | >100% |
| Adjusted EBITDA Development | € million | 56.1 | -0.4 | - |
| Adjusted EBITDA Total (continuing operations) |
€ million | 220.8 | 163.2 | +35.3% |
| Adjusted EBT (continuing operations) | € million | 187.6 | 141.3 | +32.8% |
| Attributable to minorities | € million | 12.1 | 2.6 | >100% |
| Adjusted EBT per share | € | 0.47 | 0.36 | +30.6% |
| Operating Free Cash-Flow (OFCF) | € million | 243.2 | 191.7 | +26.9% |
| Profit for the period | € million | 237.5 | 99.3 | >100% |
| Balance sheet | Mar. 31, 2025 | Dec. 31, 2024 | Change | |
|---|---|---|---|---|
| Investment properties | € million | 23,347.3 | 22,539.7 | +3.6% |
| Equity | € million | 13,651.6 | 13,411.6 | +1.8% |
| LTV | % | 29.0 | 29.3 | -0.3pp |
| NAV | € million | 16,826.4 | 16,575.4 | +1.5% |
| NAV per share | € | 42.39 | 41.76 | +1.5% |
| Non-financial KPIs | Mar. 31, 2025 | Mar. 31, 2024 | Change | |
|---|---|---|---|---|
| Number of owned residential units | 139,990 | 139,940 | 0.0% | |
| In-place rent (residential) | €/sqm | 8.09 | 7.76 | +4.3% |
| Vacancy rate (residential) | % | 1.5 | 1.6 | -0.1pp |
Deutsche Wohnen SE Contact Mecklenburgische Straße 57 phone: +49 30 897 86 5413 14197 Berlin fax: +49 30 897 86 5419
deutsche-wohnen.com [email protected] 2
About Deutsche Wohnen
Deutsche Wohnen is one of the leading publicly listed property companies in Europe and is part of the Vonovia Group. The business focus of the company is on managing its own portfolio of residential properties in dynamic metropolitan regions and conurbations in Germany. Deutsche Wohnen sees itself as having both a social responsibility and a duty to maintain and newly develop good-quality and affordable housing in vibrant residential neighbourhoods. As of 31 March 2025, the portfolio comprised a total of around 140,000 residential units.
Important note
This publication is neither an offer to sell nor a solicitation to buy securities.
To the extent that this document contains forward-looking statements, these are not facts and are recognisable by such words as 'will', 'expect', 'believe', 'estimate', 'intend', 'endeavour', 'assume' and similar expressions. These statements express the intentions, opinions or current expectations and assumptions of Deutsche Wohnen and the individuals acting in concert with it. The forward-looking statements are based on current plans, estimates and forecasts that Deutsche Wohnen and the individuals acting in concert with it have made to the best of their knowledge, but do not make any claims as to their future accuracy. Forward-looking statements are subject to risks and uncertainties that are generally difficult to predict and are usually not within the control of Deutsche Wohnen or the individuals acting in concert with it. It should be remembered that the actual results or consequences may differ considerably from those mentioned or contained in the forward-looking statements.
Deutsche Wohnen SE Contact Mecklenburgische Straße 57 phone: +49 30 897 86 5413 14197 Berlin fax: +49 30 897 86 5419
deutsche-wohnen.com [email protected] 3