26.04.2023 Vonovia SE  DE000A1ML7J1

EQS-Adhoc: Vonovia SE Agrees to Sell €1.0bn Minority Common Equity Participation in its “Südewo” portfolio.


 

EQS-Ad-hoc: Vonovia SE / Key word(s): Disposal/Joint Venture
Vonovia SE Agrees to Sell €1.0bn Minority Common Equity Participation in its “Südewo” portfolio.

26-Apr-2023 / 06:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Bochum, April 26, 2023 – Vonovia announces the sale of a minority common equity participation in its “Südewo” portfolio to Apollo, on behalf of its affiliated and third party insurance clients and other long-term investors, for €1.0bn.

The transaction values the Südewo portfolio at €3.3bn on a debt free and cash free basis, implying a discount below 5% to its fair value as of December 31, 2022, and below 6% to the fair value as of June 30, 2022.

Vonovia retains a long-term call-option to repurchase the participation at an IRR of 6.95%-8.30% (including dividends received) without an obligation to exercise the option. Vonovia will continue to control, operate, and consolidate the portfolio, which comprises more than 21k residential units in locations across the state of Baden-Württemberg. Closing of the transaction is expected to occur around May 31, 2023 and is subject to further conditions such as the absence of material adverse changes and regulatory clearances.

With the proceeds, Vonovia generates ~50% of the targeted €2bn free cash flow from asset disposals to which the company committed for 2023E. The transaction has no material impact on Vonovia’s near term Group FFO per share or NTA per share. Vonovia intends to use the proceeds for liability management and to cover upcoming debt maturities, with the company’s LTV expected to reduce by 1 percentage point to 44.1% and Net debt / EBITDA by 0.3x to 15.5x.

Contact:

Vonovia SE
Rene Hoffmann
Head of Investor Relations
Telephone: +49(0)234 314 - 1629
[email protected]


End of Inside Information

26-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Vonovia SE
Universitätsstraße 133
44803 Bochum
Germany
Phone: +49 234 314 1609
Fax: +49 234 314 2995
E-mail: [email protected]
Internet: www.vonovia.de
ISIN: DE000A1ML7J1
WKN: A1ML7J
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1616959

 
End of Announcement EQS News Service

1616959  26-Apr-2023 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 2.391,60 2.708,20 2.910,70 3.147,10 3.623,90 5.151,80 4.874,50
EBITDA1,2 1.319,70 1.554,80 1.760,10 1.909,80 2.254,40 2.763,10 2.583,80
EBITDA-Marge3 55,18 57,41 60,47 60,68 62,21 53,63
EBIT1,4 4.313,60 4.291,30 3.523,50 5.458,40 6.009,60 974,50 -8.752,50
EBIT-Marge5 180,36 158,46 121,05 173,44 165,83 18,92 -179,56
Jahresüberschuss1 2.566,90 2.402,80 1.294,30 3.340,00 2.830,90 -669,40 -6.756,20
Netto-Marge6 107,33 88,72 44,47 106,13 78,12 -12,99 -138,60
Cashflow1,7 946,00 1.132,50 1.555,90 1.430,50 1.823,90 2.084,30 1.901,20
Ergebnis je Aktie8 5,06 4,48 2,15 5,87 4,22 -0,82 -7,80
Dividende8 1,32 1,44 1,57 1,69 1,66 0,85 1,12
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
Vonovia
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A1ML7J 26,250 Halten 21.599,89
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
11,56 11,69 0,99 11,78
KBV KCV KUV EV/EBITDA
0,87 11,36 4,43 24,43
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,85 0,90 3,43 08.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.04.2024 02.08.2024 06.11.2024 15.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-3,05% 1,57% -8,02% 51,56%
    
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