BERLIN (dpa-AFX) - German real estate firm Deutsche Wohnen SE (DWHHF.PK) reported Tuesday narrower net loss in its fiscal 2024, and higher adjusted EBITDA, with growth in revenue from property management.
Further, the company said it looks forward with confidence to 2025 - and beyond.
For the current year, the company projects largely stable business development and adjusted EBITDA significantly above the previous year's level. The positive development will be driven by positive rental growth and rising price expectations in the Development segment.
Adjusted EBT will be moderately higher than the previous year, partly due to the sharp increase in borrowing costs.
The firm also projects slight increase in enterprise value and a slight increase in NAV per share in 2025.
In fiscal 2024, loss attributable to shareholders was 590.5 million euros, compared to prior year's loss of 2.70 billion euros. Loss per share was 1.49 euros, narrower than loss of 6.80 euros per share a year ago.
Result for the period from continuing operations was loss of 617.7 million euros or 1.55 euros per share, compared to loss of 2.43 billion euros or 5.96 euros per share last year.
Pre-tax loss was 567.9 million euros, compared to prior year's loss of 3.42 billion euros.
Adjusted EBT from continuing operations after minority interests dropped 7.5 percent to 498.8 million euros from 539.3 million euros last year.
Total adjusted EBITDA from continuing operations was 643.8 million euros, up 1.4 percent from 634.8 million euros last year.
Revenue from property management grew to 1.38 billion euros from last year's 1.31 billion euros.
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