Overview
Vonovia made a successful start to the 2019 financial year. We continued to apply our business strategy unchanged in the first three months. With over € 240 million invested in modernization and new construction projects in the first quarter of 2019, the investment program remains the key driver of our organic growth. Our Group FFO rose by 20.0% in 2019 as against the prior-year quarter to total € 303.6 million due to acquisitions.
Further Increase in Sustained Earnings
Group FFO
Maintenance and Modernization Expanded Once Again
Investments
Organic Rent Growth
Organic rent increase
Vacancy Rate
Vacancy Rate
Increase in Net Assets
EPRA NAV
Fair Value of the Real Estate Portfolio
Fair Value of the Real Estate Portfolio
Group FFO
Group FFO reflects the recurring earnings from the sustained operating business. In addition to the Adjusted EBITDA for the Rental, Value-add, Recurring Sales and Development segments, Group FFO allows for recurring cash-effective net interest expenses from non-derivative financial instruments as well as income taxes. This key figure is not determined on the basis of any specific international reporting standard but is to be regarded as a supplement to other performance indicators determined in accordance with IFRS.