Vonovia Reports Robust H1 2026 Performance Amid Challenging Market

Vonovia SE has released its H1 2026 results, highlighting strong growth in its core business segments. The residential real estate company saw a 3.5% increase in Adjusted EBITDA in its Rental segment, reaching €1,268.6 million. This growth was driven by sustained demand for affordable housing, despite a smaller portfolio of around 5,000 units compared to last year.

The Value-add segment experienced notable growth, with Adjusted EBITDA increasing by 27.6% to €128.5 million, supported by the craftsmen organization and energy business. Vonovia reported a €700 million disposal volume and refinanced €4.4 billion year-to-date at an average coupon of 3.2%.

Despite challenging market conditions impacting sales-related segments, Vonovia maintains its financial guidance for 2026 and its outlook for 2028. The company remains committed to prioritizing reliable earnings growth and enhancing its balance sheet strength.