Annual Report 2019

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Key Figures

Financial Key Figures in € million

2015

2016

2017

2018

2019

*

Based on the shares carrying dividend rights on the reporting date.

 

 

 

 

 

 

Rental income

1,414.6

1,538.1

1,667.9

1,894.2

2,074.9

Adjusted EBITDA Rental

924.4

1,046.2

1,148.7

1,315.1

1,437.4

Adjusted EBITDA Value-Add

37.6

57.0

102.1

121.2

146.3

Adjusted EBITDA Recurring Sales

 

 

62.2

79.1

91.9

Adjusted EBITDA Development

 

 

6.7

39.4

84.5

Adjusted EBITDA Total

1,028.7

1,186.5

1,319.7

1,554.8

1,760.1

EBITDA IFRS

838.4

1,083.7

1,271.8

1,534.4

1,579.6

Group FFO

 

 

975.0

1,132.0

1,218.6

thereof attributable to Vonovia shareholders

 

 

920.4

1,069.7

1,165.6

thereof attributable to Vonovia hybrid capital investors

 

 

40.0

40.0

40.0

thereof attributable to non-controlling interests

 

 

14.6

22.3

13.0

Group FFO per share in €*

 

 

2.01

2.18

2.25

Income from fair value adjustments of investment properties

1,323.5

3,236.1

3,434.1

3,517.9

4,131.5

EBT

1,734.5

3,859.8

4,007.4

3,874.3

3,138.9

Profit for the period

994.7

2,512.9

2,566.9

2,402.8

1,294.3

Cash flow from operating activities

689.8

828.9

946.0

1,132.5

1,555.9

Cash flow from investing activities

-3,239.8

416.4

-1,350.1

-3,892.5

-2,505.7

Cash flow from financing activities

4,093.1

-2,812.4

-870.5

3,041.5

902.8

Maintenance and modernization

686.3

792.4

1,124.8

1,569.4

1,971.1

thereof for maintenance expenses and capitalized maintenance

330.7

320.1

346.2

430.4

481.6

thereof for modernization

354.1

458.4

712.9

904.7

996.5

thereof new construction

1.5

13.9

65.7

234.3

493.0

Key Balance Sheet Figures in € million

Dec. 31, 2015

Dec. 31, 2016

Dec. 31, 2017

Dec. 31, 2018

Dec. 31, 2019

*

Based on the shares carrying dividend rights on the reporting date.

 

 

 

 

 

 

Fair value of the real estate portfolio

24,157.7

27,115.6

33,436.3

44,239.9

53,316.4

Adjusted NAV

11,273.5

14,328.2

18,671.1

23,262.6

28,161.9

Adjusted NAV per share in €*

24.19

30.75

38.49

44.90

51.93

LTV in %

46.9

41.6

39.8

42.8

43.1

Non-financial Key Figures

2015

2016

2017

2018

2019

 

 

 

 

 

 

Number of units managed

397,799

392,350

409,275

480,102

494,927

thereof own apartments

357,117

333,381

346,644

395,769

416,236

thereof apartments owned by others

40,682

58,969

62,631

84,333

78,691

Number of units bought

168,632

2,815

24,847

63,706

23,987

Number of units sold

15,174

26,631

11,780

15,102

4,784

thereof Recurring Sales

2,979

2,701

2,608

2,818

2,607

thereof Non-core Disposals

12,195

23,930

9,172

12,284

2,177

Number of newly-built apartments

28

40

250

1,108

2,092

thereof for Vonovia’s own portfolio

28

40

250

638

1,301

thereof for sale to third parties

 

 

 

470

791

Vacancy rate in %

2.7

2.4

2.5

2.4

2.6

Monthly in-place rent in €/m2

5.75

6.02

6.27

6.52

6.93

Organic rent increase in %

2.9

3.3

4.2

4.4

3.9

Number of employees (as of Dec. 31)

6,368

7,437

8,448

9,923

10,345

 

 

 

 

 

 

EPRA Key Figures in € million

2015

2016

2017

2018

2019

*

Based on the shares carrying dividend rights on the reporting date.

 

 

 

 

 

 

EPRA NAV

13,988.2

17,047.1

21,284.6

26,105.0

29,654.6

EPRA NAV per share in €*

30.02

36.58

43.88

50.39

54.69

EPRA NNNAV

9,739.8

12,034.4

14,657.5

17,669.5

18,554.8

EPRA earnings

329.2

450.0

572.6

685.3

785.8

EPRA net initial yield in %

4.5

4.1

3.7

3.5

3.3

EPRA topped-up net initial yield in %

4.5

4.1

3.7

3.5

3.3

EPRA vacancy rate in %

2.5

2.2

2.3

2.3

2.4

EPRA cost ratio (incl. direct vacancy costs) in %

31.9

28.4

26.3

25.9

25.8

EPRA cost ratio (excl. direct vacancy costs) in %

30.2

27.0

24.8

24.6

24.5