- The business model proves to still be robust.
- Vonovia reported stable business development in the first three months of 2021 despite the ongoing coronavirus pandemic.
- Group FFO increased by 14.1% from € 335.5 million in the first quarter of 2020 to € 382.9 million in the first quarter of 2021. This development was driven largely by organic growth through investments and sales.
- Tenant services still available in full with no significant disruption of business operations.
- Continued focus on preventing social hardship.
Maintenance, Modernization and New Construction
Organic Rent Growth
Fair Value of the Real Estate Portfolio
Group FFO reflects the recurring earnings from the operating business. In addition to the adjusted EBITDA for the Rental, Value-add, Recurring Sales and Development segments, Group FFO allows for recurring current net interest expenses from non-derivative financial instruments as well as current 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.