Vonovia FY24 Net Loss Narrows; Sees Growth Ahead

RTTNews | vor 113 Tagen
Vonovia FY24 Net Loss Narrows; Sees Growth Ahead

(RTTNews) - German real estate major Vonovia SE reported Wednesday a net loss in fiscal 2024, but significantly narrower than last year, mainly with growth in revenues. The company also announced higher dividend, and its fiscal 2025 outlook, expecting higher adjusted EBITDA, a key earnings metric.

The company added that it is very confident as it looks ahead to this year and beyond, with the development of new growth opportunities. Vonovia said it has set a clear target of achieving EBITDA growth of around 30 percent by 2028.

In Germany, on the XETRA, Vonovia shares were losing around 1.4 percent to trade at 25.17 euros.

For fiscal 2025, the company expects to report adjusted EBITDA of between 2.70 billion euros and 2.80 billion euros, higher than the previous year. Adjusted EBT is expected between 1.75 billion euros and 1.85 billion euros.

By 2028, the company aims to report an adjusted EBITDA of between 3.2 billion euros and 3.5 billion euros, an increase of around 30 percent compared to 2024. The three areas of business other than Rental - Value-add, Development and Recurring Sales - which currently contribute around 9 percent to adjusted EBITDA, are expected to make a total contribution of between 20 percent and 25 percent.

Further, the Supervisory Board will be proposing to the Annual General Meeting a dividend of 1.22 euros per share, higher than the dividend for the last two years.

In fiscal 2024, net loss attributable to Vonovia's shareholders was 896.0 million euros, compared to prior year's loss of 6.29 billion euros. Loss per share was 1.09 euros, compared to loss of 7.80 euros a year ago.

On a continuing operations basis, attributable loss was 919.4 million euros or 1.12 euros per share, compared to loss of 6.16 billion euros or 7.64 euros per share a year ago.

EPRA NTA per share developed to 45.23 euros at the end of 2024 from 46.82 euros at the end of 2023.

The adjusted EBT of continuing operations dropped to 1.80 billion euros from 1.87 billion euros in the previous year. However, the adjusted EBITDA total from continuing operations grew 1.6 percent to 2.63 billion euros from previous year's 2.58 billion euros, mainly with improvement in Value-add.

Revenue from property management grew to 5.09 billion euros from prior year's 4.87 billion euros.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

read more
Higher Open Called For Indonesia Stock Market

Higher Open Called For Indonesia Stock Market

The Indonesia stock market has moved higher in four straight sessions, gathering almost 140 points or 2 percent along the way. The Jakarta Composite Index now sits just above the 7,000-point plateau and it's looking at a steady start again on Friday.
RTTNews | vor 15 Minuten
Japanese Market Modestly Higher

Japanese Market Modestly Higher

Reversing the losses in the previous session, the Japanese market is modestly higher on Friday, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 39,700 level, with gains in exporters and technology stocks.
RTTNews | vor 24 Minuten
Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the three-day losing streak in which it had dropped more than 330 points or 1.4 percent. The Hang Seng Index now sits just beneath the 24,030-point plateau and it may see additional support on Friday.
RTTNews | vor 30 Minuten
Australian Market Slightly Higher

Australian Market Slightly Higher

The Australian stock market is trading slightly higher on Friday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying just below the 8,600 level, with gains in iron ore miner stocks partially offset by weakness in gold miner and financial stocks.
RTTNews | vor 44 Minuten
China Bourse May Extend Thursday's Gains

China Bourse May Extend Thursday's Gains

The China stock market bounced higher again on Thursday, one day after snapping the four-day winning streak in which it had risen almost 45 points or 1.3 percent. The Shanghai Composite Index now sits just beneath the 3,510-point plateau and it may add to its winnings on Friday.
RTTNews | vor 45 Minuten
Soft Start Expected For Taiwan Stock Market

Soft Start Expected For Taiwan Stock Market

The Taiwan stock market has moved higher in back-to-back sessions, collecting more than 330 points or 1.5 percent in that span. The Taiwan Stock Exchange now sits just beneath the 22,700-point plateau although it may run out of steam on Friday.
RTTNews | vor 1Std 15 Minuten
Rally May Stall For Singapore Stock Market

Rally May Stall For Singapore Stock Market

The Singapore stock market has moved higher in four straight sessions, improving more than 60 points or 1.5 percent along the way. The Straits Times Index now rests just above the 4,075-point plateau although it may run out of steam on Friday.
RTTNews | vor 1Std 45 Minuten