Vonovia SE

VNA: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	%Y	LOCK\|FfS	LOCK\|Nx

Vonovia Earnings: Strength in Rental and Value-Add Offset Weaker Development Environment

Jack Fletcher-Price

Aug 5, 2026

Vonovia reported mixed 2026 first-half results and reaffirmed all profit guidance for the year. However, it lowered its organic rental growth guidance by 20 basis points to around 4.0%. Profitability was strong, while a challenging market weighed on recurring sales and development revenue.

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Vonovia SE

Vonovia Earnings: Strength in Rental and Value-Add Offset Weaker Development Environment

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