Reklāma

Vonovia FY24 Net Loss Narrows; Sees Growth Ahead

RTTNews | 60 days ago

(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.

Tags: VONOY

Asian Shares Drift Lower After US Credit Rating Downgrade

Asian stocks ended lower on Monday as Moody's downgrade of the U.S. credit rating reinforced Wall Street's growing worries over the U.S. sovereign bond market.

RTTNews | 13 minutes ago

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.

RTTNews | 1h 29min ago

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-

RTTNews | 3h 2min ago

European Shares Likely To Drift Lower On Concerns About US Debt

European stocks may open on a sluggish note Monday after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.

RTTNews | 3h 24min ago

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...

RTTNews | 3h 54min ago

Sensex, Nifty Marginally Lower As IT Stocks Drag

Indian shares were flat to slightly lower on Monday, with IT stocks leading losses after a U.S. credit rating downgrade.

RTTNews | 4h 34min ago

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.

RTTNews | 5h 33min ago

Asian Markets Trade Mostly Lower

Asian stock markets are mostly lower on Monday, following the positive cues from Wall Street on Friday, as traders react to surprise downgrade of the US government's credit rating by one notch to Aa1 by Moody's Ratings, being the last of the three major credit rating agencies to downgrade it. They also react to China announcing anti-dumping duties on plastics from the U.S., EU, Japan and Taiwan.

RTTNews | 5h 49min ago

EURUSD	1.12603	GBPUSD	1.33699	AUDUSD	0.64332
USDJPY	144.829	USDCAD	1.39502	USDCHF	0.83316