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, Vonovia is aiming for EUR 4.4 billion in sales in 2020 – more cautious with rental growth | message, Forex-News, Forex-News
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Vonovia is aiming for EUR 4.4 billion in sales in 2020 – more cautious with rental growth | message

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, Vonovia is aiming for EUR 4.4 billion in sales in 2020 – more cautious with rental growth | message, Forex-News, Forex-News


, Vonovia is aiming for EUR 4.4 billion in sales in 2020 – more cautious with rental growth | message, Forex-News, Forex-News

By Ulrike duration

FRANKFURT (Dow Jones) – Vonovia is now setting a sales target for the first time with the figures for the full year. Due to the Berlin rent cap, the group now estimates organic rent growth in 2020 to be somewhat lower.

According to the detailed forecast that the Bochum-based DAX group published on Wednesday with the analyst presentation, Vonovia is targeting total sales of 4.4 billion euros for 2020. In the coming year sales are expected to rise to between EUR 4.9 and 5.1 billion.

Organic rental growth is only expected to increase by 3.1 percent in 2020. Vonovia had previously expected 3.3 to 3.8 percent here. In 2021, rental growth is expected to increase again by 3.0 to 3.8 percent.

With the total sales and the sales development in the four business segments, the group wants to take account of the expansion of the business to include value-add and development (project development).

In the morning Vonovia published its updated outlook and dividend proposal for 2020 and a company forecast for the first time for the coming year.

For 2020, Vonovia is now targeting the upper end of the range of 1.275 to 1.325 billion euros for FFO – the operating profit after current interest and taxes. The shareholders are to receive a dividend of 1.69 euros per share, 12 cents more than in the previous year.

Vonovia is now planning investments of 1.5 billion euros for 2020, unchanged from the previous year. Previously, the group had planned to invest at least 1.3 billion euros and a maximum of 1.6 billion euros in 2020. He also calculates this for 2021.

Adjusted EBITDA is expected to rise to between EUR 1.975 billion and EUR 2.025 billion in 2021, exceeding EUR 2 billion for the first time.

Contact the author: ulrike.länge@wsj.com; @UlrikeDauer_

DJG / uxd / kla

(END) Dow Jones Newswires

November 04, 2020 9:51 AM ET (2:51 PM GMT)

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, Vonovia is aiming for EUR 4.4 billion in sales in 2020 – more cautious with rental growth | message, Forex-News, Forex-News

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, Vonovia is aiming for EUR 4.4 billion in sales in 2020 – more cautious with rental growth | message, Forex-News, Forex-News

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