EQS-News 101 0 Kommentare Deutsche Wohnen: Stable Performance in the first three months of 2024

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Stable performance in Q1 2024
Adjusted EBT of €141.3 million
Vacancy rate remains low at 1.6%

EQS-News: Deutsche Wohnen SE / Key word(s): Quarterly / Interim Statement
Deutsche Wohnen: Stable Performance in the first three months of 2024

03.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Interim Results January to March 2024

Deutsche Wohnen: Stable Performance in the first three months of 2024

Adj. EBT of €141.3 million (€0.36 per share)
NAV at €17,010.4 million (€42.85 per share)
Vacancy rate remains at very low level

Berlin, May 3, 2024. In a challenging environment for the real estate industry, Deutsche Wohnen SE delivered a stable operating performance in the first three months of 2024.

The Adjusted EBITDA Rental was €160.4 million (+2.5%). The in-place rent per square meter was €7.76 (+3.3%). The vacancy rate remained at a very low level of 1.6%.

Other relevant KPIs also saw a stable development. The Adjusted EBT was €141.3 million, which was slightly above the prior-year level. On a per-share basis, the Adjusted EBT came to €0.36. The NAV (formerly EPRA NTA) was at €17,010.4 million or €42.85 per share. The LTV was at 30.0%.

Key numbers

Financial KPIs		3M 2024	3M 2023	Change
Adjusted EBITDA Rental	€ million	160.4	156.5	+2.5%
Adjusted EBITDA Value-add	€ million	3.1	2.2	+40.9%
Adjusted EBITDA Recurring Sales	€ million	0.1	1.3	-92.3%
Adjusted EBITDA Development	€ million	-0.4	-0.4	-
Adjusted EBITDA Total (continuing operations)	€ million	163.2	159.6	+2.3%
Adjusted EBT (continuing operations)	€ million	141.3	136.8	+3.3%
Attributable to minorities	€ million	2.6	4.0	-35.0%
Adjusted EBT per share	€	0.36	0.34	+5.9%
Operating Free Cash-Flow (OFCF)	€ million	191.7	126.7	+51.3%
Profit for the period	€ million	99.3	-667.9	-

Balance sheet		Mar. 31, 2024	Dec. 31, 2023	Change
Investment properties	€ million	23,112.4	23,021.5	+0.4%
Equity	€ million	14,095.1	13,998.2	+0.7%
LTV	%	30.0	30.4	-0.4pp
NAV	€ million	17,010.4	16,976.6	+0.2%
NAV per share	€	42.85	42.77	+0.2%

Non-financial KPIs		Mar. 31, 2024	Mar. 31, 2023	Change
Number of owned residential units		139,940	140,078	-0.1%
In-place rent (residential)	€/sqm	7.76	7.51	+3.3%
Vacancy rate (residential)	%	1.6	1.9	-0.3pp