Vonovia 1Q Profit, Revenue Increased; Backs 2021 Guidance
By Mauro Orru
Vonovia SE said Tuesday that net profit and revenue for the
first quarter increased, with the company's residential portfolio
in Sweden being a particularly bright spot.
The German real-estate company said first-quarter net profit
rose to 234.7 million euros ($283.2 million) from EUR197.5 million
in the first quarter of 2020.
Revenue for the period climbed to EUR1.15 billion from EUR998.8
million a year prior.
Funds from operations, or operating profit after interest and
taxes, rose to EUR382.9 million from EUR335.5 million a year
Adjusted earnings before interest, taxes, depreciation and
amortization increased to EUR506.1 million from EUR456.1
Vonovia said it continues to expect 2021 revenue of around
EUR4.90 billion-EUR5.10 billion, while adjusted Ebitda should be
between EUR1.98 billion and EUR2.03 billion. Funds from operations
should come in between EUR1.42 billion and EUR1.47 billion for the
Write to Mauro Orru at firstname.lastname@example.org; @MauroOrru94
(END) Dow Jones Newswires
May 04, 2021 01:22 ET (05:22 GMT)
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