Opportunities and Risks

In addition to the opportunities and risks set out in the combined management report for the 2020 fiscal year, there were just minor changes in the assessment of the overall risk position in the first half of 2021. The risk “unfavorable interest rate developments,” which was classed as a green risk as of the end of 2020, was upgraded to a yellow risk with potential net damage of € 100–250 million and a probability of occurrence of 5–39% in the first half of 2021.

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. Based on our experience to date, we do not expect the pandemic to have any significant impact in the future either.