Real Estate: Vonovia Confirms Annual Forecast

Düsseldorf. Rising prices for residential real estate are playing into the cards of the German industry leader Vonovia. The Bochum-based group recorded a 1.5 percent increase in the revaluation of the traffic value of its real estate portfolio, as it announced on Wednesday. At the same time, however, rising financing costs are weighing on the highly indebted group. Vonovia reiterated its annual forecasts.

In day-to-day business, Vonovia earned more: adjusted operating profit (Ebitda) rose in the first half year by 2.4 percent to around €1.5 billion. Overall, Vonovia earned €771.6 (previous year: 811.5) million euros. Rents increased organically by 3.6 percent. However, the highly indebted group continues to feel the effects of higher financing costs.

"The higher financing costs match our expectations," said Chief Financial Officer Philip Grosse. For the current year 2026, Vonovia expects a further increase in adjusted operating profit (Ebitda) to €2.95 to €3.05 billion - after €2.8 billion in 2025. At the end of June, Vonovia owned more than 528,000 apartments in Germany, Sweden and Austria. This was almost 5,000 fewer apartments than in the same period of the previous year.