EQS-News
Deutsche Wohnen: Stable Performance in the first three months of 2024
- Stable performance in Q1 2024
- Adjusted EBT of €141.3 million
- Vacancy rate remains low at 1.6%
EQS-News: Deutsche Wohnen SE / Key word(s): Quarterly / Interim Statement Interim Results January to March 2024 |
Deutsche Wohnen: Stable Performance in the first three months of 2024
- Adj. EBT of €141.3 million (€0.36 per share)
- NAV at €17,010.4 million (€42.85 per share)
- Vacancy rate remains at very low level
Berlin, May 3, 2024. In a challenging environment for the real estate industry, Deutsche Wohnen SE delivered a stable operating performance in the first three months of 2024.
The Adjusted EBITDA Rental was €160.4 million (+2.5%). The in-place rent per square meter was €7.76 (+3.3%). The vacancy rate remained at a very low level of 1.6%.
Other relevant KPIs also saw a stable development. The Adjusted EBT was €141.3 million, which was slightly above the prior-year level. On a per-share basis, the Adjusted EBT came to €0.36. The NAV (formerly EPRA NTA) was at €17,010.4 million or €42.85 per share. The LTV was at 30.0%.
Key numbers
Financial KPIs | 3M 2024 | 3M 2023 | Change | |
Adjusted EBITDA Rental | € million | 160.4 | 156.5 | +2.5% |
Adjusted EBITDA Value-add | € million | 3.1 | 2.2 | +40.9% |
Adjusted EBITDA Recurring Sales | € million | 0.1 | 1.3 | -92.3% |
Adjusted EBITDA Development | € million | -0.4 | -0.4 | - |
Adjusted EBITDA Total (continuing operations) | € million | 163.2 | 159.6 | +2.3% |
Adjusted EBT (continuing operations) | € million | 141.3 | 136.8 | +3.3% |
Attributable to minorities | € million | 2.6 | 4.0 | -35.0% |
Adjusted EBT per share | € | 0.36 | 0.34 | +5.9% |
Operating Free Cash-Flow (OFCF) | € million | 191.7 | 126.7 | +51.3% |
Profit for the period | € million | 99.3 | -667.9 | - |
Balance sheet | Mar. 31, 2024 | Dec. 31, 2023 | Change | |
Investment properties | € million | 23,112.4 | 23,021.5 | +0.4% |
Equity | € million | 14,095.1 | 13,998.2 | +0.7% |
LTV | % | 30.0 | 30.4 | -0.4pp |
NAV | € million | 17,010.4 | 16,976.6 | +0.2% |
NAV per share | € | 42.85 | 42.77 | +0.2% |
Non-financial KPIs | Mar. 31, 2024 | Mar. 31, 2023 | Change | |
Number of owned residential units | 139,940 | 140,078 | -0.1% | |
In-place rent (residential) | €/sqm | 7.76 | 7.51 | +3.3% |
Vacancy rate (residential) | % | 1.6 | 1.9 | -0.3pp |
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