Vonovia SE: Vonovia initiates independent investigation and will press charges against suspects

After investigation at company headquarters

Vonovia initiates independent investigation and will press charges against suspects
 

• Rolf Buch, CEO: “We are shocked. It appears that individual employees at our subsidiaries have accepted bribes to the detriment of Vonovia – that is not acceptable.”
• Vonovia has appointed the auditing firm Deloitte to conduct an independent investigation.
• Vonovia has already taken initial personnel measures and will press charges against suspects.

Bochum, 7 March 2023 – Today, the investigating authorities have secured documents at the real estate company Vonovia, as there are apparently suspicions of alleged problematic procedures in the awarding of contracts to subcontractors, to Vonovia’s detriment. The investigating authorities are making accusations against individual employees at the operational level in the technical area.

Rolf Buch, CEO: “We are shocked. It appears that individual employees at our subsidiaries have accepted bribes to the detriment of Vonovia – that is not acceptable.”

Vonovia has the greatest interest in a complete investigation and is therefore cooperating fully with the investigating authorities. At the same time, Vonovia has appointed the auditing firm Deloitte to conduct an independent investigation.

Vonovia has already taken initial personnel measures and will press charges against suspects.

Contact

Rene Hoffmann
Head of Investor Relations
t: +49 (0)234/314-1629
rene.hoffmann@vonovia.de

About Vonovia

Vonovia SE is Europe’s leading private residential real estate company. Vonovia currently owns more than 549,000 residential units in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 72,400 apartments. Its portfolio is worth approximately € 99.2 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company’s successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.

The company, which is based in Bochum, has been listed on the stock exchange since 2013. Since September 2015 Vonovia has been a constituent in the DAX 30 (today DAX 40) and since September 2020 in the EURO STOXX 50. Vonovia SE is also a constituent of additional national and international indices, including DAX 50 ESG, Dow Jones Sustainability Index Europe, EURO STOXX ESG Leaders 50, STOXX Europe ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe, and GPR 250 World. Vonovia has a workforce of approximately 15,900 employees.

Additional information:

Approval: Regulated Market / Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common Code: 094567408
Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879
Business address of Vonovia SE: Universitaetsstraße 133, 44803 Bochum, Germany

This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia (“forward-looking statements”) that reproduce various assumptions regarding, e.g., results derived from Vonovia’s current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.