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Vonovia:Quarterly Results/2023 Q1: Difference between revisions
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Return to: [[Earnings Season]] / [[Vonovia]] | |||
== Results == | == Results == | ||
Vonovia posted mixed Q1 2023 results. Here is a summary<ref>https://investoren.vonovia.de/en/news-and-publications/presentations/ | Vonovia posted mixed Q1 2023 results. Here is a summary<ref>https://investoren.vonovia.de/en/news-and-publications/presentations/ | ||
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* Vonovia sold on May 4, 2023 five real estate portfolios( 1,350 residential units in Frankfurt, Berlin and Munich) to CBRE Investment Management for around €560 million. As such, the company is now able to cover 2023's refinancing needs in full as well as two-third of the refinancing due in 2024. "Amounting to a total of more than €1.5 billion, we already have almost reached our sales target for this year. Furthermore, we assess the results of our negotiations as a positive signal for the entire business: after a very difficult first quarter 2023 with little movement, the market is cautiously opening. Buyers and sellers can come to an agreement again. This in itself is a cause for optimism," Buch said | * Vonovia sold on May 4, 2023 five real estate portfolios( 1,350 residential units in Frankfurt, Berlin and Munich) to CBRE Investment Management for around €560 million. As such, the company is now able to cover 2023's refinancing needs in full as well as two-third of the refinancing due in 2024. "Amounting to a total of more than €1.5 billion, we already have almost reached our sales target for this year. Furthermore, we assess the results of our negotiations as a positive signal for the entire business: after a very difficult first quarter 2023 with little movement, the market is cautiously opening. Buyers and sellers can come to an agreement again. This in itself is a cause for optimism," Buch said | ||
* Vonovia maintained its 2023 revenue, EBITDA and Group FFO. | * Vonovia maintained its 2023 revenue, EBITDA and Group FFO. | ||
== References == | |||