Group Financials
From rental income to the equity capital ratio: Key financial figures provide a quick overview.
| A. Income statement key figures | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Rental income (net actual rent) in EUR m | 371.1 | 360.2 | 350.8 | 339.9 | 333.1 |
| EBITDA (adjusted) total rental business in EUR m | 247.6 | 238.5 | 236.4 | 233.5 | 226.1 |
| EBITDA (adjusted) from sales Poland in EUR m | 85.5 | 76.6 | 82.8 | 80.8 | 13.2 |
| Adjusted net income from sales Poland in EUR m | 68.0 | 66.2 | 82.8 | 59.3 | 6.7 |
| Consolidated net profit in EUR m | 90.3 | 122.1 | -410.9 | 117.3 | 585.6 |
| FFO I per share in EUR | 1.00 | 1.00 | 0.98 | 1.19 | 1.24 |
| FFO I in EUR m | 181.0 | 175.1 | 171.7 | 189.4 | 182.0 |
| FFO II per share in EUR | 1.38 | 1.36 | 1.46 | 1.56 | 1.29 |
| FFO II in EUR m | 248.2 | 239.4 | 255.6 | 247.3 | 188.8 |
| B. Balance sheet key figures | 12/31/2025 | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 |
|---|---|---|---|---|---|
| Total assets in EUR m | 8,951.0 | 7,750.3 | 7,299.8 | 8,214.6 | 7,088.6 |
| Equity in EUR m | 3,322.0 | 3,099.9 | 2,964.5 | 3,307.7 | 3,129.5 |
| LTV in % | 41.0 | 46.9 | 47.0 | 46.7 | 43.2 |
| C. Portfolio data | 12/31/2025 | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 |
|---|---|---|---|---|---|
| Units Germany | 83,504 | 83,618 | 84,682 | 86,914 | 87,576 |
| Units Poland (completed rental apartments) | 3,526 | 3,219 | 2,417 | 1,153 | 361 |
| Sold units Poland | 2,823 | 1,936 | 3,586 | 1,751 | 412 |
| Handovers in Poland | 2,077 | 2,666 | 3,812 | 3,510 | 575 |
| GAV total (real estate assets) in EUR m | 6,971.5 | 6,505.9 | 6,574.4 | 7,481.4 | 6,735.3 |
| GAV Germany (real estate assets) in EUR m | 5,425.2 | 5,286.1 | 5,442.9 | 6,328.8 | 6,387.4 |
| GAV Poland (real estate assets) in EUR m | 1,546.3 | 1,219.8 | 1,131.5 | 1,152.6 | 347.9 |
| Vacancy in % Germany (total portfolio) | 3.5 | 3.9 | 4.3 | 4.8 | 5.7 |
| Vacancy in % Germany (residential units) | 3.2 | 3.6 | 4.0 | 4.4 | 5.4 |
| Vacancy in % Poland (total portfolio) | 4.8 | 4.9 | 7.2 | 35.8 | --- |
| l-f-l Rental growth in % Germany | 2.6 | 2.5 | 1.8 | 1.5 | 1.5 |
| l-f-l Rental growth in % Germany (inc. vacancy reduction) | 3.0 | 3.0 | 2.3 | 2.7 | 1.3 |
| l-f-f Rental growth in % in Poland | 3.4 | 3.2 | 10.8 | 22.0 | --- |
| D. EPRA key figures | 12/31/2025 | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 |
|---|---|---|---|---|---|
| EPRA Earnings per share in EUR | 1.05 | 0.99 | 0.91 | 1.08 | 1.08 |
| EPRA NTA per share in EUR | 20.98 | 19.15 | 18.31 | 20.74 | 25.54 |
| EPRA Net Initial Yields in % | 5.1 | 5.0 | 4.5 | 4.2 | 4.1 |
| EPRA Vacancy Rate in % | 3.6 | 4.0 | 4.7 | 4.4 | 5.6 |
| EPRA Cost Ratio (incl. vancancy costs) in % | 32.4 | 33.7 | 32.6 | 30.5 | 31.9 |
| EPRA Cost Ratio (excl. vancancy costs) in % | 30.2 | 31.5 | 30.0 | 27.8 | 29.1 |
| EPRA Loan to Value in % | 43.2 | 47.6 | 48.6 | 47.6 | 43.5 |