Vonovia reaffirmed its annual forecasts on Wednesday, according to an announcement by the company. The Bochum-based real estate firm recorded a 1.5 percent increase in the revaluation of the market value of its real estate holdings.
The company's adjusted profit attributable to shareholders decreased by nearly five percent to approximately 772 million euros in the first half of the year, primarily driven by higher financing costs.
Vonovia's adjusted profit attributable to shareholders in the first half of the year
The higher financing costs correspond to our expectations,
At the end of June, Vonovia owned more than 528,000 apartments in Germany, Sweden, and Austria. This apartment count was almost 5,000 fewer than during the same period last year.
Organic rent increases reached 3.6 percent, according to the company's data. Vonovia is a highly indebted company.
