BERLIN (dpa-AFX) - German real estate major Vonovia SE reported that its profit, including valuation, for the first quarter of 2025 climbed to 515.4 million euros from 335.5 million euros in the previous year.
Vonovia's Chief Executive Officer, Rolf Buch, and the company have mutually agreed to terminate his contract early in order to enable an orderly long-term succession. He will step down as Chief Executive Officer and member of the Management Board at the end of the year, at the latest on 31 December 2025. Buch will be succeeded by Luka Mucic, currently Chief Financial Officer and Executive Director of Vodafone Group plc and previously long-standing Chief Financial Officer and COO of SAP SE. The Supervisory Board intends to appoint Mucic to the Management Board of Vonovia at the end of the fourth quarter 2025.
Vonovia's adjusted EBITDA from continuing operations for the first quarter rose by 15.1% year-on-year to 698.5 million euros from last year's 607.0 million euros, driven primarily by strong contributions from non-rental segments.
Adjusted EBT was 14.9% higher than the previous year, at 478.7 million euros compared to 416.5 million euros in the previous year.
The company confirmed guidance for 2025 and further outlook.
For the financial year 2025, Vonovia expects adjusted EBITDA to range between 2.7 billion eiros and 2.8 billion euros and Adjusted EBT between 1.75 billion euros and 1.85 billion euros.
In addition to the planned recruitment of around 2,800 new employees in 2025 alone, the growth trajectory of Vonovia is largely driven by three strategic initiatives: expanding the Value-add, Development and Recurring Sales segments, investing in innovative technologies and growing its third-party market activities, the company said.
By 2028, Vonovia aims to achieve an Adjusted EBITDA between 3.2 billion euros and 3.5 billion euros. The Value-add, Development and Recurring Sales segments are expected to contribute between 20% and 25% to this total. To support this, investments will be doubled compared to 2024, reaching up to 2 billion euros.
Looking beyond 2045, Vonovia also plans to offset the remaining unavoidable emissions, thereby achieving net-zero carbon intensity.
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