Dusseldorf The real estate giant Vonovia achieved a significant increase in profits in the first nine months of this year. The Bochum-based group also confirmed its forecast for 2022. In the coming year, however, the interest rate trend will have an impact on profit (Group FFO) – this will be “slightly below the level of 2022,” said Vonovia on Friday.
Profit from operations (Group FFO) – the key indicator for real estate companies – increased by 35 percent to around 1.6 in the first nine months of this year as a result of the takeover of smaller competitor Deutsche Wohnen, rising rents and a historically low vacancy rate Billion euro.
In view of rising interest rates and capital costs, Vonovia boss Rolf Buch now wants to move away from the expansion course of the past few years, which was supported by acquisitions. Rather, the Bochum-based Dax group wants to part with apartments and get investors on board for individual projects.
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