Deutsche Wohnen: Stable Performance in the first three months of 2024

EQS-News: Deutsche Wohnen SE / Key word(s): Quarterly / Interim Statement
Deutsche Wohnen: Stable Performance in the first three months of 2024

03.05.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Interim Results January to March 2024

Deutsche Wohnen: Stable Performance in the first three months of 2024

* Adj. EBT of EUR141.3 million (EUR0.36 per share)

* NAV at EUR17,010.4 million (EUR42.85 per share)

* Vacancy rate remains at very low level

Berlin, May 3, 2024. In a challenging environment for the real estate
industry, Deutsche Wohnen SE delivered a stable operating performance in the
first three months of 2024.

The Adjusted EBITDA Rental was EUR160.4 million (+2.5%). The in-place rent per
square meter was EUR7.76 (+3.3%). The vacancy rate remained at a very low
level of 1.6%.

Other relevant KPIs also saw a stable development. The Adjusted EBT was
EUR141.3 million, which was slightly above the prior-year level. On a
per-share basis, the Adjusted EBT came to EUR0.36. The NAV (formerly EPRA NTA)
was at EUR17,010.4 million or EUR42.85 per share. The LTV was at 30.0%.

Key numbers

    Financial KPIs                               3M 2024   3M 2023  Chan-
                                                                       ge
    Adjusted EBITDA Rental             EUR           160.4     156.5  +2.5-
                                       millio-                          %
                                       n
    Adjusted EBITDA Value-add          EUR             3.1       2.2  +40.-
                                       millio-                         9%
                                       n
    Adjusted EBITDA Recurring Sales    EUR             0.1       1.3  -92.-
                                       millio-                         3%
                                       n
    Adjusted EBITDA Development        EUR            -0.4      -0.4      -
                                       millio-
                                       n
    Adjusted EBITDA Total (continuing  EUR           163.2     159.6  +2.3-
    operations)                        millio-                          %
                                       n
    Adjusted EBT (continuing           EUR           141.3     136.8  +3.3-
    operations)                        millio-                          %
                                       n
    Attributable to minorities         EUR             2.6       4.0  -35.-
                                       millio-                         0%
                                       n
    Adjusted EBT per share             EUR            0.36      0.34  +5.9-
                                                                        %
    Operating Free Cash-Flow (OFCF)    EUR           191.7     126.7  +51.-
                                       millio-                         3%
                                       n
    Profit for the period              EUR            99.3    -667.9      -
                                       millio-
                                       n

    Balance sheet                               Mar. 31,  Dec. 31,  Chan-
                                                    2024      2023     ge
    Investment properties              EUR        23,112.4  23,021.5  +0.4-
                                       millio-                          %
                                       n
    Equity                             EUR        14,095.1  13,998.2  +0.7-
                                       millio-                          %
                                       n
    LTV                                %            30.0      30.4  -0.4-
                                                                       pp
    NAV                                EUR        17,010.4  16,976.6  +0.2-
                                       millio-                          %
                                       n
    NAV per share                      EUR           42.85     42.77  +0.2-
                                                                        %

    Non-financial KPIs                          Mar. 31,  Mar. 31,  Chan-
                                                    2024      2023     ge
    Number of owned residential units            139,940   140,078  -0.1-
                                                                        %
    In-place rent (residential)        EUR/sqm        7.76      7.51  +3.3-
                                                                        %
    Vacancy rate (residential)         %             1.6       1.9  -0.3-
                                                                       pp

About Deutsche Wohnen

Deutsche Wohnen is one of the leading publicly listed property companies in
Europe and is part of the Vonovia Group. The business focus of the company
is on managing its own portfolio of residential properties in dynamic
metropolitan regions and conurbations in Germany. Deutsche Wohnen sees
itself as having both a social responsibility and a duty to maintain and
newly develop good-quality and affordable housing in vibrant residential
neighbourhoods. As of 31 March 2024, the portfolio comprised a total of
around 140,000 residential units.

Important note

This publication is neither an offer to sell nor a solicitation to buy
securities.

To the extent that this document contains forward-looking statements, these
are not facts and are recognisable by such words as 'will', 'expect',
'believe', 'estimate', 'intend', 'endeavour', 'assume' and similar
expressions. These statements express the intentions, opinions or current
expectations and assumptions of Deutsche Wohnen and the individuals acting
in concert with it. The forward-looking statements are based on current
plans, estimates and forecasts that Deutsche Wohnen and the individuals
acting in concert with it have made to the best of their knowledge, but do
not make any claims as to their future accuracy. Forward-looking statements
are subject to risks and uncertainties that are generally difficult to
predict and are usually not within the control of Deutsche Wohnen or the
individuals acting in concert with it. It should be remembered that the
actual results or consequences may differ considerably from those mentioned
or contained in the forward-looking statements.

Contact:

Phone +49 (0)30 897 86-5413
ir@deutsche-wohnen.com


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   Language:       English
   Company:        Deutsche Wohnen SE
                   Mecklenburgische Straße 57
                   14197 Berlin
                   Germany
   Phone:          +49 (0)30 89786-5413
   Fax:            +49 (0)30 89786-5419
   E-mail:         ir@deutsche-wohnen.com
   Internet:       https://www.deutsche-wohnen.com
   ISIN:           DE000A0HN5C6
   WKN:            A0HN5C
   Indices:        SDAX
   Listed:         Regulated Market in Frankfurt (General Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1894459

End of News EQS News Service
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1894459 03.05.2024 CET/CEST