Vonovia SE, the parent company of the Vonovia Group, is organized in the legal form of a dualistic European company (SE). It is managed by a four-strong Management Board, which is supported by a Supervisory Board. Vonovia SE has its registered headquarters in Germany. Since 2017, its registered office has been located in Bochum. 102-3
The parent company performs the function of the management holding company for the Group. As such, it is responsible for determining and pursuing the overall strategy and implementing it in the form of the company’s goals. It performs property management, financing, service and coordination tasks for the Group. Furthermore, it is responsible for the management, control and monitoring system as well as risk management. 102-5
Unless otherwise stated, all of the information in this report relates to Vonovia’s activities in Germany. In the “Data” chapter, key figures are also shown for Austria and Sweden as far as possible. We have reported on the activities of BUWOG in Austria and Victoria Park (excluding Hembla) in Sweden in separate chapters (see chapters Austria – Sustainability at BUWOG and Sweden – Sustainability at Victoria Park). A detailed list of Vonovia SE shareholdings can be found in the Annual Report. More information on the scope of this report can be found in the chapter About This Report.
The management of the business is based on the company’s strategic approaches and is conducted via the four segments:
- Recurring Sales
Following the introduction of a new regional structure in the third quarter of 2019, Vonovia’s core operating rental business in Germany is now divided into four business areas. These business areas are divided into regional areas, which are, in turn, subdivided into individual regions. Each region is responsible for around 5,100 local units on average. The optimization of our management structures resulted in the East and Southeast areas and the Central and West areas being consolidated, reducing the total number of business areas from six to four. The level comprising the regional areas acts as an interface between the management and the regional managers responsible for the regional portfolios. This is designed to allow us to respond better to strategic rental issues on site, as the regional managers are responsible for a smaller number of apartments, meaning that they are closer to our customers. The caretaker, craftsmen’s and residential environment organization is also based on a regional structure.
Responsibility for the other activities that belong to the Value-add Business, i.e., in particular product management, such as metering and energy services, and portfolio management, such as vertical expansion and modernization, is centralized. This also applies to activities relating to sales and acquisition.
The development business is also managed centrally for both Austria and Germany. 102-2
Further information on the corporate structure can be found in the 2019 Annual Report (see AR 2019, Corporate Structure).