BERLIN (dpa-AFX) - Vonovia SE (VONOY), a German private residential real estate company, reported Wednesday that its fiscal 2024 net loss narrowed significantly from last year with growth in revenues.
Further, the Supervisory Board will be proposing to the Annual General Meeting a dividend of 1.22 euros per share, higher than the dividend for the last two years.
Looking ahead, for fiscal 2025, the company expects to report adjusted EBITDA of between 2.70 billion euros and 2.80 billion euros, and adjusted EBT between 1.75 billion euros and 1.85 billion euros.
In fiscal 2024, net loss attributable to Vonovia's shareholders was 896.0 million euros, compared to prior year's loss of 6.29 billion euros. Loss per share was 1.09 euros, compared to loss of 7.80 euros a year ago.
On a continuing operations basis, attributable loss was 919.4 million euros or 1.12 euros per share, compared to loss of 6.16 billion euros or 7.64 euros per share a year ago.
EPRA NTA per share developed to 45.23 euros at the end of 2024 from 46.82 euros at the end of 2023.
The adjusted EBT of continuing operations amounted to 1.80 billion euros, compared to 1.87 billion euros in the previous year. The adjusted EBITDA total from continuing operations grew 1.6 percent to 2.63 billion euros from previous year's 2.58 billion euros.
Revenue from property management grew to 5.09 billion euros from prior year's 4.87 billion euros.
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