Deutsche Wohnen (DWNI) Q3 2025 earnings summary

Executive summary

• Positive operating performance in the first nine months of 2025, with stable market conditions for real estate.

• Portfolio comprised approximately 140,000 residential units as of September 30, 2025.

Financial highlights

• Adjusted EBITDA Rental rose 5.3% year-over-year to €498.9 million.

• Adjusted EBITDA Total (continuing operations) increased 16.0% to €567.6 million.

• Adjusted EBT (continuing operations) up 19.0% to €457.1 million; per share €1.15 (+18.6%).

• Operating Free Cash-Flow surged 78.6% to €531.3 million.

• Profit for the period reached €1,037.7 million, compared to a loss of €255.5 million in the prior year.

• Investment properties grew 5.5% to €23,783.4 million.

• Equity increased 7.8% to €14,451.0 million.

Outlook and guidance

• Forecasts for the 2025 financial year remain unchanged from the H1 2025 report.