Overview
Vonovia made a successful start to the 2019 fiscal year. We continued to pursue our business strategy unchangedly in the first six months. With investments in modernization and new construction totaling € 595.6 million in the first half of the year 2019, our investment program remains the driver of our organic growth. Our Group FFO increased by 12.9% from € 539.4 million in the first half of 2018 to € 609.1 million in the first half of 2019 due to acquisitions.
Further Increase in Sustained Earnings
Group FFO
Maintenance and Modernization Expanded Again
Investments
Organic Rent Growth
Organic Rent Growth
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.