Deutsche Wohnen Reports Stable Performance for H1 2024

Deutsche Wohnen SE announced stable performance in the first half of 2024 despite a challenging real estate market. The key financial figure, Adjusted EBITDA Rental, reached €314.2 million, marking a 3.3% decrease. However, the in-place rent per square meter increased by 3.3% to €7.80, and the vacancy rate maintained a low 1.7%.

Adjusted EBT rose slightly to €281.4 million, equivalent to €0.71 per share. The Net Asset Value (NAV) fell by 1.8% to €16,676.1 million, reflecting a per-share value of €42.01. This decline was largely due to a €518.5 million decrease in the fair value of investment properties. The Loan to Value (LTV) ratio improved to 30.0%.

By the end of June 2024, Deutsche Wohnen owned approximately 140,000 residential units. The company's profits for the period were impacted, resulting in a loss of €202.8 million, significantly less than the previous year's loss of €1.39 billion.