Will vonovia build more new apartments again? (Photo: Freepik, Roman_Babakin)
Bochum-the mega debt package-is it a curse or blessing? The plan drove up the returns of the federal bonds and thus the Building interest. At the same time, funding billions for new apartments could come. On Wednesday, Vonovia publishes quarterly report and annual balance sheet 2024.
The DAX Group’s stock market course dropped around 12 percent when Union and SPD announced their 1-brillion euro package in early March. The paper had recovered since the turn of the interest in mid -2024 after the share had crashed as a result of the interest increase due to Russia’s attack on Ukraine.
Stabilization of the balance sheet – key figures give hope
Hardly any business is as interest -sensitive as the real estate industry. Vonovia had to put new construction projects on ice, 2023 and 2024 served to stabilize balance. In the first 9 months of 2024, adjusted operational profit rose by 1.4 percent of the year to around 1.99 billion euros.
Hope for consolidation also reveals other key figures: In view of the strong demand for living space, the average rent laid out In the first 9 months by 3.5 percent. In addition, Vonovia finished 2,409 apartments, 610 more than in the comparison period 2023.
Book: 2025 on growth course – dividend could increase
“Our core business runs excellently, almost all of our apartments are rented,” said CEO Rolf Buch in November and announced the end of the stabilization phase. In 2024, they wanted to end at the top of the expectations and swing back on growth course from 2025.
The recovery should also be received by the shareholders: for 2024 Observers expect 1.18 euros dividend per shareIn 2023 it was 0.90 euros. In the current year 2025, the apartment giant expects an adjusted operational profit of 2.7 to 2.8 billion euros.
Investments and new construction planned – financial package – chance and risk
Germany’s largest landlord wants to invest a lot: by 2028, the funds used are to grow from 1.2 to 2 billion euros. In addition, Vonovia wants to reduce construction costs, raise the new building program with 3,000 apartments and hopes for the new Building type E.
Now with increasing real estate interest rates, a risk factor has been added by the financial package. Vonovia’s investment offensive could offer a chance-if the money was used for new apartments. See here Housing associations However, need for improvement.
Profit and sales: forecasts of the analysts
The Vonovia win per share is based on the mean estimate of an analyst finanzen.net In the 4th quarter of 2024 there was around 0.38 euros after Vonovia had to show a loss of 0.09 euros in the 3rd quarter of 2024. In the previous year, there was a minus of around 3.43 euros per share.
No growth also promises sales forecasts – around 808 billion euros estimate 3 analysts on average for the 4th quarter. That is less than in the previous year’s quartal (around 1.43 billion euros) and than in the 3rd quarter (around 1.72 billion). The financial year ends on December 31.
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