German real estate company Deutsche Wohnen reported a net profit of €99.3 million ($106.7 million) for the first quarter of the year, compared to a loss of €667.9 million last year.
Excluding items, earnings before taxes increased to €141.3 million or €0.36 per share from previous year's €136.8 million or €0.34 per share.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) stood at €163.2 million as against €159.6 million in 2023.
Value-add adjusted EBITDA was €3.1 million, up from previous year's €2.2 million.
Excluding items, rental EBITDA moved up to €160.4 million from last year's €156.5 million.
The number of owned residential units was 139,940, down from last year's 140,078.
The Net Asset Value or NAV, formerly EPRA NTA, was at €17.010 billion or €42.85 per share, compared with €16.976 billion or €42.77 per share, recorded for the previous quarter.