04.05.2023 Vonovia SE  DE000A1ML7J1

EQS-News: Vonovia SE: 1,350 residential units to be sold to CBRE Investment Management for a total of ca. EUR 560m


 

EQS-News: Vonovia SE / Key word(s): Disposal
Vonovia SE: 1,350 residential units to be sold to CBRE Investment Management for a total of ca. EUR 560m

04.05.2023 / 05:55 CET/CEST
The issuer is solely responsible for the content of this announcement.


1,350 residential units to be sold to CBRE Investment Management for a total of ca. EUR 560m


Bochum, May 4, 2023 – Vonovia and CBRE Investment Management have reached an agreement on the disposal of five assets with 1,350 apartments located in Berlin, Munich, and Frankfurt. Three of these assets are recently completed new constructions that are operated within the rental segment. The other two are still under construction with completion expected in Q2 and Q3 this year.

At ca. EUR 6,000 per sqm the average fair value is more than twice as high as the Vonovia average, and the rent level of ca. EUR 19.50 per sqm compares to ca. EUR 7.50 for Vonovia’s portfolio. Both numbers underline the extraordinary quality of the disposal assets. The gross yield on the sold portfolio is just under 4% and closely in line with Vonovia’s average.

Vonovia CEO Rolf Buch commented: “Following the Südewo transaction last week this is another good step for us towards achieving our disposal targets for this year. We are excited to be able to demonstrate that disposals at attractive yields are possible even in this still somewhat challenging transaction environment, and we consider it a positive signal for the market as a whole.”

The book value of the sold assets as of Dec. 31, 2022, plus the estimated costs to completion for the not-yet finished assets amounts to ca. EUR 600m, and the parties have agreed on a total purchase price of ca. EUR 560m. Vonovia expects a cash inflow after tax and transaction costs of EUR 535m, representing a cash conversion of 89%.

Owing to different closing dates, staggered payments have been agreed with the last installment scheduled for December 2023.

Vonovia was advised by Dentons (Legal), E&Y (Tax and Financial) as well as Lübke Kelber and Cushman & Wakefield.


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 72,800 apartments. Its portfolio is worth approximately € 95 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, STOXX Global ESG Leaders, EURO STOXX 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.



04.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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: 1623941

 
End of News EQS News Service

1623941  04.05.2023 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1623941&application_name=news&site_id=boersengefluester_html


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023
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

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 31,480 Halten 25.903,41
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,87 11,39 1,21 14,12
KBV KCV KUV EV/EBITDA
1,09 13,62 5,31 26,10
Dividende '22 in € Dividende '23 in € Div.-Rendite '23
in %
Hauptversammlung
0,85 0,90 2,86 28.05.2025
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
07.05.2025 02.08.2024 06.11.2024 19.03.2025
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,53% 9,36% 10,30% 18,57%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu Vonovia SE  ISIN: DE000A1ML7J1 können Sie bei EQS abrufen


Immobilien (Wohn) , A1ML7J , VNA , XETR:VNA