Deutsche Wohnen H1 Group FFO Edges Up

(RTTNews) - German property company Deutsche Wohnen SE (DWHHF.PK), affiliated to Vonovia SE (VONOY, VNNVF), reported Tuesday that its first-half Group funds from operations or FFO edged up 0.7 percent to 297.4 million euros from last year's 295.4 million euros.

On a per-share basis, the Group FFO came to 0.75 euro, up from 0.74 euro a year ago.

The company recorded a loss for the period of 1.39 billion euros, compared to last year's profit of 927.3 million euros.

Adjusted EBITDA was 349.4 million euros, up 0.7 percent from 347.0 million euros a year ago. Adjusted EBITDA Rental was 313.9 million euros, up 8.4%.

The net asset value or NAV, formerly EPRA NTA, declined 9.2% since year-end 2022 to 18.48 billion euros or 46.56 euros per share. The decline was largely driven by the result from the fair value measurement of investment properties of negative 2.18 billion euros.

Deutsche Wohnen said it is examining, whether and when a potential sale of individual portfolios of the nursing segment might make economic sense.

As announced earlier, the company considers that the nursing segment no longer fits to the core business as a residential real estate company.

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