Half-Year Report 2020

Opportunities and Risks

For the purposes of the interim financial statements as of June 30, 2020, there are no opportunities and risks over and above, or material changes to, the opportunities and risks set out in the combined management report for the 2019 fiscal year.

There are no indications of any risks that could pose a threat to the company’s existence, and – as things stand at present – no such risks are expected to arise in the future. 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. The risk situation would have to be reevaluated in the event of a second wave of the COVID-19 pandemic. Based on our experience to date, we would not expect a second wave to have any significant impact either. Now that the rent freeze in Berlin is in force, the expected impact has been incorporated into the updated plans as of June 30, 2020.