Vonovia (VNA) Corporate presentation summary

Business profile and sustainability strategy

• 531,000 owned apartments across Germany, Sweden and Austria; fair value €84.5bn and revenue €6.7bn as of Dec. 31, 2025.

• Sustainability strategy spans climate, urban development, homes and customers, employees, and sustainable leadership; carbon-neutral housing stock target is 2045, with residual emissions offset through carbon removal.

• The Sustainability Performance Index (SPI) was 106.2% in 2025; it accounts for 20% of long-term variable Management Board remuneration.

• SPI measures included 30.7 kg CO₂e/sqm housing-stock intensity, 21.9 kWh/sqm p.a. primary energy demand in new construction, 85% employee satisfaction and 76.5% customer satisfaction in 2025.

Environment and climate

• FY2025 GHG emissions totaled 1.71m tCO₂e; 2030 targets are -42% for Scope 1 and 2 and -25% for Scope 3.3, 3.11 and 3.13, against 2021 baselines.

• Climate-path target: reduce housing-stock carbon intensity from 38.4 kg CO₂e/sqm in 2021 to <25 by 2030 and <5 by 2045, before carbon removal achieves net zero.

• Invested €808m in apartment modernization in 2025; target PV capacity of 400 MWp by 2028 and 700 MWp long term, with 1,000 heat pump cubes targeted by 2029.

• Completed 2,090 new units in 2025; average primary energy demand in new construction was 21.9 kWh/sqm, and at least 20% of Germany’s development pipeline is planned in timber.

• Green spaces span 24m sqm, including ~435 km of hedgerows and more than 250,000 trees; adaptation measures include green roofs, shading, permeable surfaces and climate-resilient planting.

Social responsibility and customers

• Average rent was €8.19/sqm; tenants spent less than one-third of disposable household income on rent, and 16% of units were price-controlled across Germany, Austria and Sweden.

• In 2025, 12,900 newly rented apartments were modernized to become low-barrier homes, representing 36.8%; customer satisfaction reached 76.5%, up 1.3 percentage points YoY.

• Housing First and related projects helped provide 900 apartments to people experiencing homelessness in 2025; more than 900 apartments in Germany are currently provided through homelessness initiatives.

• Invested €548m in urban quarters; provided more than 88,000 sqm for social and public-welfare purposes in 2025, equal to 14.0% of rented commercial units in Germany.

• Neighborhood initiatives include 24/7 shops, community spaces, social-service partnerships, cycling facilities and mobility sharing to support local access and social cohesion.