Vonovia FY24 Net Loss Narrows; Sees Growth Ahead

RTTNews | 105 hari yang lalu

(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.

Teg: VONOY

Sensex, Nifty Likely To Open On Cautious Note

Indian shares look set to open on a flat note Thursday as investors await the conclusion of India-U.S. trade deal, which is reportedly at its final stage.

RTTNews | 50 minit yang lalu

Japanese Market Modestly Higher

The Japanese market is trading modestly higher on Thursday after opening in the red, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 39,800 level, with gains in technology stocks and a mixed performance in most other sectors.

RTTNews | 53 minit yang lalu

Australian Market Modestly Lower

The Australian market is trading modestly lower on Thursday after opening in the green, reversing some of the gains in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 8,600 level, with weakness in financial stocks partially offset by gains in mining and energy stocks.

RTTNews | 2j 29min yang lalu

Pound Falls Amid Uncertainty Over Chancellor's Future

The pound dropped against its major counterparts in the New York session on Wednesday, following rumours about Rachel Reeves' future as finance minister.

RTTNews | 7j 26min yang lalu

Canadian Market Down Marginally In Lackluster Trade

The Canadian market is down in negative territory in lackluster trade on Wednesday as investors largely refrain from making significant moves, choosing to wait for directional clues from the trade front.

RTTNews | 9j 36min yang lalu

Swiss Market Closes Modestly Higher

Despite struggling for direction for much of the day's trading session, the Switzerland market closed modestly higher on Wednesday as select stocks found some good support in the final hour. The mood was cautious with investors awaiting further news on the trade front, and the data on Swiss inflation and unemployment, due later in the week.

RTTNews | 10j 5min yang lalu

European Stocks Close Broadly Higher

European stocks closed higher on Wednesday as investors continued to closely watch trade negotiations between the U.S. and major countries across the globe ahead of the July 9 deadline for reciprocal tariffs.

RTTNews | 10j 21min yang lalu

U.S. Private Sector Employment Unexpectedly Dips By 33,000 Jobs In June

Private sector employment in the U.S. unexpectedly decreased in the month of June, according to a report released by payroll processor ADP on Wednesday.

RTTNews | 11j 6min yang lalu

EURUSD	1.17954	GBPUSD	1.3632	AUDUSD	0.65715
USDJPY	143.751	USDCAD	1.35923	USDCHF	0.79163

Advertisement

Vonovia FY24 Net Loss Narrows; Sees Growth Ahead