Attractive Core Business Growth and Positive Valuation

„In the first half of the year, we continued our strong core Rental and Value-add performance. This compensated for the slower progression in our sales-related segments for which the market environment remains challenging for now. While much of our sales activities are more back-end loaded in 2026, our focus remains unchanged: reliable earnings growth from our core business plus increasing growth from our non-rental activities on our path towards a stronger balance sheet.”

„At Vonovia, people always come first. Our approach is reflected in customer satisfaction figures, which rose to 77.3% in the second quarter. This is a new record, and we're very proud of it. At the same time, we are investing in the skilled workers of tomorrow, and we currently have around 1,000 apprentices. In our buildings, we are increasingly using technical solutions for our energy supply. For example, we have installed photovoltaic systems with a peak output of around 200 MWp, and we are gradually expanding this capacity. Furthermore, we are planning to install around 1,000 heat pumps in our apartment buildings, which will be brought into operation in stages by 2029 when they should supply around 20,000 homes. Thanks to these projects, we are continually developing the energy infrastructure of our stock.”