Results of Operations

Vonovia made a successful start to the 2020 fiscal year and was able to act as a reliable real estate industry partner in spite of the coronavirus pandemic. The Group’s ongoing solid overall development was supported by its unchanged corporate strategy.

As of March 31, 2020, Vonovia managed a portfolio comprising 415,323 of its own residential units (Mar. 31, 2019: 394,609), 138,383 garages and parking spaces (Mar. 31, 2019: 119,973) and 6,673 commercial units (Mar. 31, 2019: 5,155). The locations span 640 cities, towns and municipalities (Mar. 31, 2019: 709) in Germany, Sweden and Austria. 72,971 residential units (Mar. 31, 2019: 78,784) are also managed for other owners.

At the end of the first quarter of 2020, Vonovia employed 10,499 people (Mar. 31, 2019: 9,925).