Vonovia publishes transcript of H1 2026 earnings call

PUBT · 2d ago
Vonovia publishes transcript of H1 2026 earnings call
  • Vonovia published the transcript of its H1 2026 earnings call attended by CEO Luka Mucic and CFO Philip Grosse.
  • Guidance reaffirmed; organic rent growth outlook for 2026 trimmed to about 4% from Berlin’s Mietspiegel approach, 2028 rent growth target stays about 5%.
  • Berlin Mietspiegel rose 6.9%; Vonovia plans a 4.8% increase now, with remaining potential deferred, not written off.
  • H1 disposals totaled about EUR 700 million, including EUR 330 million non-core packages, EUR 160 million Recurring Sales, Vesteda redemption agreement about EUR 200 million.
  • Refinanced about EUR 4.4 billion year-to-date at about 3.2% coupon over about eight years; 2026 refinancing largely completed, 2027 volumes cut to about EUR 3 billion.


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