Results of Operations

Vonovia recorded stable business development in the first half of 2020 and was able to act as a reliable partner for all stakeholders, but especially for its customers, in spite of the coronavirus pandemic. The coronavirus pandemic is currently not having any significant impact on Vonovia’s corporate strategy, nor is it having any considerable impact on the company’s operational and financial performance. Vonovia has only been experiencing a low level of lost rental payments, meaning that it does not expect to see any significant default on receivables in the future either. To the extent that they were temporarily interrupted by the coronavirus restrictions, modernization and/or new construction measures, as well as sales activities, have resumed again and are being continued in full.

We are currently observing stable demand for rental apartments and no negative impact on market values as a result of the coronavirus pandemic.

As of June 30, 2020, Vonovia managed a portfolio comprising 414,879 of its own residential units (June 30, 2019: 396,739), 138,626 garages and parking spaces (June 30, 2019: 120,964) and 6,642 commercial units (June 30, 2019: 5,278). The locations span 639 cities, towns and municipalities (June 30, 2019: 691) in Germany, Sweden and Austria. 73,488 residential units (June 30, 2019: 79,015) are also managed for other owners.

At the end of the first half of 2020, Vonovia employed 10,440 people (June 30, 2019: 10,024).

The following key figures provide an overview of Vonovia’s results of operations and the relevant drivers in the first half of 2020. When comparing the current key figures with the previous year, it is important to note that the figures for 2020 include Hembla, which was acquired in November 2019, with a contribution to the half-year result.