Vonovia´s Residential Sustainable Approach
Energy Efficiency in Construction and Housing
Webinar hosted by Kepler Cheuvreux
December 15, 2020
Megatrends - Challenge & Opportunity
Energy
Urbanizationefficiency
An increasing part of the population | Ca. 1/3 of greenhouse gas |
is moving into urban areas | emissions are related to real estate |
Demographic
change
An increasing share of the population is 65+ years
We are providing apartments at fair price levels to a growing urban population
Our products and services give more than one million people an affordable home in their apartment and neighborhood
We are a driving force of the industry and have embarked on a climate path that will result in a CO2 neutral portfolio by 2050
The energy-efficient modernization of the housing stock and innovative solutions for carbon neutral residential neighborhoods are paramount for achieving climate protection targets
We are preparing at least one third of all apartments that become vacant for elderly tenants
Demographic changes require refurbishing apartments to enable an ageing population to stay in their homes with little or no assistance for longer
Our scale, sustainable business model and access to capital markets enable us to assume a leading role in our industry for finding and implementing solutions.
Energy Efficiency in Construction and Housing | page 2 |
Serving a Fundamental Need in a Highly Relevant Market. Our Business Is Deeply Rooted in ESG
We provide a home to around 1 million people from ca. 150 nations.
CO2 emissions related to housing are one of the largest sources of greenhouse gas emissions.
As a listed, blue-chip company we are rightfully held to a high standard.
All of our actions have more than just an economic dimension and require adequate stakeholder reconciliation.
Commitment to
climate protection
and CO2 reduction
-
S
G
Responsibility
for customers, society
and employees
Reliable and transparent corporate
governance built on trust
Energy Efficiency in Construction and Housing | page 3 |
Update Sustainability at Vonovia
Sustainability | Vonovia has further developed its sustainability strategy, aligned it to ESG dimensions and | |
defined targets. | ||
Strategy | ||
Top sustainability issues for Vonovia were identified in a thorough materiality analysis. | ||
UN Sustainability | 8 of the 17 United Nations Sustainability Goals (SDGs), have been identified as essential | |
and are part of our sustainability strategy. | ||
Targets (SDGs) | ||
Our sustainability strategy has the largest impact on these SDG's. | ||
Climate path / C02 | Vonovia has defined a climate path for the portfolio to achieve a climate-neutral building | |
stock by 2050. | ||
reduction |
- Vonovia hosted the Climate Conference "Perspectives for Climate-neutral Living" in October
Climate Conference | and presented itself as the driving force for climate protection in the housing industry. | ||
Innovation | Innovative research center in Bochum Weitmar to develop solutions for CO2-neutral | ||
residential properties and sector coupling. | |||
Renewable Energies | |||
Research in new technologies & use of renewable energies. | |||
Substantially improved ESG ratings. Sustainalytics (1st percentile worldwide), ISS Oekom | |||
ESG ratings | (from D to C), MSCI (from B to A) CDP (from C to B). | ||
improved | Inclusion in leading ESG indices such as DAX 50 ESG, STOXX Global ESG Leaders, STOXX | ||
Europe ESG Leaders 50, Dow Jones Sustainability Europe Index. | |||
Sustainability | Development of a sustainability performance index for implementing non-financial KPIs in | ||
Performance Index | the management system. | ||
Energy Efficiency in Construction and Housing | page 4 |
Materiality Analysis Shows the Key Sustainability Topics for Vonovia
Process & result of the materiality analysis
Stakeholder survey: online survey (142), stakeholder interviews (42)
Assessment of business relevance and evaluation of the company impact via workshops
Very | high |
Very | |
high |
Business relevance | stakeholders for Importance |
High | ||
High | Effects on environment, society and | Very |
economy | high | |
Energy Efficiency in Construction and Housing | page 5 |
11 key topics
A1 | A home at a fair rental level |
A3 | Adequate products and services in relation to |
demographic change | |
A5 | Customer satisfaction and service quality |
Neighborhood development and contribution to | |
B1 | |
infrastructure | |
C1 | Sustainable new construction and refurbishment |
D1 | CO2 reduction of existing buildings |
D2 | Renewable energies and energy mix |
E1 | Attractiveness as an employer |
E4 | Diversity and equal opportunities |
F1 | Governance and compliance |
G5 | Capital markets appeal |
Vonovia's Sustainability Targets
CO2 reduction of existing buildings
≈ 3% annual modernization rate - CO2 Intensity: 30-35 kg CO2/sqm by 2030.
Sustainable and CO2- efficient new construction of buildings
85 % of completed new buildings in energy efficiency class A or better and set target on average primary energy need
Biodiversity
Expansion of wildflower meadows to 100,000 sqm and 100 insect habitats.
Low-barrier refurbishment
Maximize number of apartments with low barrier refurbishment.
Customer satisfaction & service quality
Increase customer satisfaction and our CSI.
Attractive employer - best in class
Increase employee satisfaction.
Workforce gender Diversity
Increase in the proportion of women in the top two management levels below the Management Board.
Energy Efficiency in Construction and Housing | page 6 |
Vonovia's Sustainability Strategy is Committed to 8 United Nations Sustainability Development Goals
We consider 8 of the 17 United Nations Sustainability Development Goals to be material to our business activities and aligned with our sustainability strategy. Our sustainability strategy is expected to have positive impacts on these important goals.
Employer | Renewable | Capital markets | Adequate |
attractiveness | energies & | appeal | products and |
Diversity and | energy mix | Governance & | services in |
equal | compliance | relation to | |
opportunity | demographic | ||
change |
Neighborhood | CO2 reduction of | Biodiversity and | Partnerships / |
development and | existing | water | holdings |
contribution to | buildings | ||
infrastructure | Energy-efficient | ||
Sustainable new | modernization | ||
construction and | |||
refurbishment | |||
A home at a fair | |||
rental level |
Energy Efficiency in Construction and Housing | page 7 |
Large Share of CO2 Emissions in Germany is Related to Real Estate
Europe
Germany
Paris Climate | Climate protection |
Accord: Limiting | plan of the German |
government | |
global warming to | Climate neutral |
below 2 degrees | building stock until |
2050 |
EU Renovation Wave: doubling the modernization rate
The energy and building sectors account for a total of 30-40% of CO2 emissions, of which 14% in the building sector
Defined interim targets in the building sector: In 2030, a maximum of 72 million tons of CO2/year may be emitted.
2018 - 2030 -> 40 % reduction
CO2 pricing to facilitate reaching the climate targets: CO2 tax to be introduced starting in 2021
1% refurbishment rate in Germany is not sufficient to meet climate targets
The preservation and creation of new affordable housing is a central goal in
connection with climate protection
Our Ambition: Vonovia is a driving force in the housing industry on the way
to a climate-neutral building stock
Energy Efficiency in Construction and Housing | page 8 |
Vonovia's Climate Path towards CO2 | Neutrality through Continued | |
Modernization, Renewable Energy and Sector Coupling | ||
Environment | ||
Illustration of different climate path scenarios 2020-2050 | ||||||
CO2 intensity | 1 | |||||
Base case | ||||||
50 | ||||||
Increased modernization | ||||||
45 | depth (ca. 60% reduction) | |||||
40 | ||||||
35 | Germany 1% | 2 | ||||
sqm | ||||||
30 | Hybrid case | |||||
/ | Increased modernization | |||||
/ kg | 25 | depth (ca. 60% reduction) + | ||||
2 | 1 | gas condensing + solar | ||||
CO | 20 | thermal technology | ||||
15 | 2 | |||||
10 | 3 | Climate neutral case2 | ||||
5 | ||||||
3 | Conversion to green district | |||||
0 | heating, sector coupling and | |||||
renewable energy | ||||||
2020E | 2030E | 2040E | 2050E | |||
(heat pump / PV) | ||||||
Energy efficient modernization rate Germany (1%) Energy efficient modernization rate Vonovia (3%) -60% reduction, 3% energy efficient modernization rate
-60% reduction, 3% energy efficient modernization rate + gas condensing & solar thermal technology
-60% reduction, 3% energy efficient modernization rate + proprietary district heating, sector coupling / or + heat pump / or + PV Target path of German government 2030 / scenario for climate neutral housing portfolio
CRREM 2-degree path 04/2020
Target corridor
Note: This climate path refers to the German portfolio; we are in the process of developing separate climate paths for the portfolios in Austria and Sweden. Source: Fraunhofer ISE modelling of Vonovia portfolio. Reduction
of energy need of 160 kWh towards 60% through the following measures: Building envelope (insulated facade, windows) to become KFW Standard 100-70; scenarios 2 and 3 include the simulation of a change of energy sources. 2 In order to achieve the climate neutral case certain regulatory adjustments still need to be made and not all of the technological concepts have been fully developed yet.
Energy Efficiency in Construction and Housing | page 9 |
Modernization of Building Envelope plus Fuel Switch for the Portfolio
Environment
Vonovia Portfolio - Energy Efficiency Classes
Portfolio in %. Energy efficiency classes (kWh(m²*a)) 2019
30 | |||
25.4 | |||
25 | |||
20.2 | |||
20 | 19.2 | ||
15.4
15
10
7.0
5.9
5 | 3.8 | |
2.7
0.1 0.5
0 | |||||||||||
A+ | A | B | C | D | E | F | G | H | no | ||
below | 30 - | 50 - | 75 - | 100 - | 130 - 160 - 200 - | more classification | |||||
30 | below | below | below | below | below | below | below | than | |||
50 | 75 | 100 | 130 | 160 | 200 | 250 | 250 |
26.8%
Modernization
Fuel switch / renewable
energy
Vonovia's Climate Strategy
Energy-efficient modernization of ca. 3%
Continue building modernization with even greater depth (up to 60%)
Additional efficiency gains from fuel switch & renewable energy:
Green district heat
New technologies
Sector coupling in the neighborhood (PV & mobility)
New construction: CO2 optimized, use of renewable energy (energy efficiency class A and better)
Energy Efficiency in Construction and Housing | page 10 |
Technologies for Reaching Climate Path Objectives | |
Innovation for CO2-neutral Heat Generation | Environment |
Existing
technologies
Innovation for CO2-neutral Heat Generation
Continue energy efficient building modernization with a 60% reduction rate for post- refurbishment energy need
Replacement of oil heating systems with gas condensing boilers
Tomorrow's Energy Center
Construction of a proprietary research center in Bochum Weitmar to develop renewable energy systems
Integration of technologies such as fuel cells, electrolyzer, etc.
The objective is to evaluate different technologies in terms of economic and ecological impact with a view to roll them out in other neighborhoods of our portfolio
Energiesprong - Serial
Refurbishment
Concept for cost-neutral modernization by combining serial refurbishment and the
integration of renewable heat and electricity
First pilot in Bochum about to be implemented;
Additional pilots planned until 2024
Hybrid heating (combination of condensing boilers and solar, renewable)
Heat pumps
Green district heat
Sector coupling
Pellet Heating Project
Pellet heating is almost climate neutral
Particularly suitable in connection with local district heating
Pellet costs are similar to gas costs; heating plants are more expensive
When subsidized, pellet heating is a viable ecological and economically feasible alternative
First concepts for potential pilots underway
Hydrogen Technology
Decentralized generation of green hydrogen via PV
Areas of application:
Hydrogen storage for subsequent heat generation
Disposal of hydrogen
Technology currently still too expensive; a growing market is expected to lead to substantial cost reductions, rendering H2 economically feasible
Energy Efficiency in Construction and Housing | page 11 |
New Construction and Development Projects are Sustainable and | |
CO2-optimized | Environment |
Vienna, Marina Tower
- ca. 500 condominiums
- ÖGNI NH Certificate Gold / klimaaktiv Gold Certificate
- Low-emissionand low-pollution building materials
- Sustainable mobility concept
Buchloe, An der Halde
- New construction of 27 apartments (50% of them barrier-free)
- Wood hybrid construction
- Energy efficiency class A+ / Standard KfW 55
- Pellet heating incl. earth bunker
Berlin-Grünau, pilot houses
- 2-5room apartments
- Wood-hybridconstruction
- Low-emissionand low-pollution building materials
- Low-energyhouses Standard KfW 40
Bochum, Waldenburger Str.
- New construction of 14 apartments
- Fully automated pellet boiler
- Energy efficiency class A+ (heating)
- Photovoltaic system
New construction projects geared towards energy efficiency
Use of renewable energies (PV, CO2, renewable heating)
Mainly A+ KfW
Program 55
Objective 2020
85% New
construction better efficiency class A / KfW 55 standard
Energy Efficiency in Construction and Housing | page 12 |
Five Areas of Action to Achieve CO2-neutral,Energy-autonomous | |
Neighborhoods for a Decentralized Energy Revolution | Environment |
As a leader for climate protection in the residential sector Vonovia hosted the climate conference "Outlook for Climate- neutral Living" in Berlin on October 1, 2020.
Renovation rate
Increase renovation rate and enable
Energiesprong
(energy efficiency leap) through high- quality, swift, and affordable renovation
Spread between gas and electricity needs to be further reduced to enable electricity-based, low CO2 heat supply
Renewables | System change | Mobility | ||
Include landlord-to- | Accelerate | Accelerate charging | ||
tenant electricity in | conversion of the | infrastructure and | ||
recoverable | electrical energy | market availability | ||
expenses | system | of e-vehicles | ||
thorough tailored | ||||
Resi sector needs to | Modify regulation to | subsidy programs | ||
be included in | support decentraliz- | for resi sector | ||
national Hydrogen | ed electricity | Establish standards | ||
Strategy | production | |||
for technical | ||||
Promote new | connection needs of | |||
energy markets for | grid operators plus | |||
the financing of | grandfathering | |||
flexible electricity | clause for installing | |||
generators | charging stations |
Stakeholders
Simplify landlord- to-tenant electricity models in resi sector
Raise awareness why we need energy transition
Facilitate landlord- to-tenant electricity in multifamily housing
Three | • | Continued modernization rate |
• | Adequate subsidy regime | |
essentials | ||
• | No grid fees or surcharges on decentralized and self-generated electricity | |
Energy Efficiency in Construction and Housing | page 13 |
Balanced Stakeholder Approach
Social
A home at a fair
rent level
Contribution to
Self-imposed | ||||||
obligation to cap | COVID-19 - special | |||||
modernization rent | Hardship case | promise that we will | ||||
increases to max. | find individual | |||||
Fair rental levels for | management to | |||||
€2 per sqm; | solutions for tenants | |||||
low- to mid-income | effectively assist | |||||
Guarantee to tenants | who struggle | |||||
households | tenants in financial | |||||
70+ years that rents | financially; no one to | |||||
distress | ||||||
will remain affordable | lose the roof over | |||||
even if market rents | their head | |||||
change | ||||||
society and
stability of local neighborhoods
Top employer
242 social projects in our neighborhoods; Cooperation with nonprofit organizations to support tenants in need
It is our ambition to be the best employer in the real estate and craftsmen industries
34 Neighborhood | ||||||||
Vonovia Foundation | managers and social | Customers from ca. | ||||||
workers to assist | 150 different | |||||||
supports multitude of | ||||||||
tenants and promote | countries and tenants | |||||||
social projects | ||||||||
unity in diversity in | from all walks of life | |||||||
our neighborhoods | ||||||||
Talents - we actively | Culture & change - | |||||||
we share a common | ||||||||
Employer appeal - we | support our | |||||||
culture of diversity, | ||||||||
are an attractive | employees in their | |||||||
performance and | ||||||||
employer for former, | development to | |||||||
appreciation in an | ||||||||
current and future | become the experts | |||||||
developing | ||||||||
employees | and leaders of our | |||||||
organization that | ||||||||
industry | ||||||||
embraces change | ||||||||
Energy Efficiency in Construction and Housing | page 14 |
Urban Neighborhoods are A Key Differentiator of Our Portfolio and the Right Level to Manage the Megatrends
Social
Urban neighborhoods are
...the right level to sustainably manage the megatrends,
...the right level for developing our 10 year master plan,
...our unique selling point!
Ca. 3/4 of our portfolio is located in almost 600 urban districts, each with an average of 430 apartments
Each neighborhood has individual challenges that need be taken into account:
Portfolio / properties
People
Urbanization, climate, demographics, mobility, integration
Our stock in urban Neighborhoods
circles & gradient mark location & quantity of quarters
Energy Efficiency in Construction and Housing | page 15 |
Binding Commitment - Sustainability Performance Index
Vonovia is in the process of developing and implementing a Sustainability Performance Index with quantitative, non-financial KPIs and medium-term targets until 2025.
CO2 reduction in the portfolio | |||
Specific annual | Energy-efficient new constructions | ||
improvement | Volume of senior-friendly apartment refurbishments | Sustainability | |
Performance | |||
targets for each | Customer satisfaction | Index | |
score | Employee satisfaction | ||
Workforce gender diversity | |||
Next steps
12/2020 | Supervisory Board to decide on new management remuneration scheme to be presented to |
the 05/2021 AGM for approval | |
03/2021 | Updated Management System and reporting of 2019 and 2020 actuals plus 2021 guidance |
(FY 2020 results) | |
04/2021 | Sustainability Performance Index roadmap and targets for 2025 |
(2020 Sustainability | |
report) | |
05/2021 | Resolution on new management remuneration scheme |
(AGM) | |
Energy Efficiency in Construction and Housing | page 16 |
Contact
Rene Hoffmann | Catrin Coners | |
Head of Investor Relations | Head of Sustainability & Strategy | |
+49 234 314 1629 | +49 234 314 1642 | |
rene.hoffmann@vonovia.de | catrin.coners@vonovia.de | |
www.investors.vonovia.de
Energy Efficiency in Construction and Housing | page 17 |
BackUp
Energy Efficiency in Construction and Housing | page 18 |
Energy Innovation Center Bochum Weitmar
In partnership with renowned Fraunhofer institutes, Vonovia is implementing a three-yearhands-on innovation project as part of Open District Hub e. V. in our neighborhood in Bochum-Weitmar to develop and test new technologies in ongoing operations.
The aim of the project is to supply the neighborhood with electricity and heating that is as carbon-neutral as possible. We aim to achieve this by linking the energy sectors via a central platform.
A smart, self-learning energy management system then ensures that the right energy is distributed to tenants when they need it - at electric charging stations, in the form of electricity for tenants' own households or in the form of heating.
Level | Measure | 5 | ||
1 | Implementation of measures that do not involve any structural | 7 | 6 | |
Apartment | intervention, e.g., optimized heating system settings | |||
Digitalization of buildings and apartments, e.g., to feature smart | 1 | |||
2 | ||||
meters | ||||
3 | Energy-efficient refurbishment, e.g., measures relating to the | |||
building shells and heating systems | 8 | |||
socketsInfrastructure for e-mobility, e.g., charging stations and e-wall | ||||
Building | 4 | |||
5 | Sustainable energy supply, e.g., photovoltaic systems for tenant | 2 | ||
electricity | 3 | |||
6 Building digitalization and networking | ||||
7 | Sector coupling (heat, electricity, mobility, etc.) in the | 4 | ||
Neighborhood | neighborhood via digital platform | |||
8 | Storage and distribution of energy generated in a decentralized | |||
structure enables on-site consumption | ||||
9 | Promotion of biodiversity | 9 | ||
Energy Efficiency in Construction and Housing | page 19 |
Promotion of Biodiversity in Our Neighborhoods
Environment
Vonovia facts
15 million square meters of green spaces
220,000 trees
23 tree species, 20 of which are climate-resistant
1,000 replacement plantings
300 km hedges
Cooperation
with NABU NRW
Cooperation with NABU NRW since the end of 2019 and other partners (Animal Aided Design, Emscher Genossenschaft Innovation City, ...)
Nationwide cooperation with NABU in preparation from 2021
Central cooperation for neighborhood development: Pilot project launched in Bochum-Weitmar
Products
Wildflower meadow with nesting aids (insect habitats)
Roof/facade greening
Organic tenant gardens
Floristic resilience and diversity
Ecological pruning
Rainwater Management
Measures implemented
- Nesting aids for bats and birds / Elements for facade greening
- approx. 100,000 sqm wildflower meadow
- Green roofs
- Ecological pruning
Energy Efficiency in Construction and Housing | page 20 |
Vonovia's Sustainability Organization
Governance
Vonovia Management Board
CEO | CRO | CFO | CDO |
Sustainability
Board
Sustainability
Department
Pilot | Exchange platforms |
Projects | |
Initiatives/ Cooperations | Research |
assignments | |
Regions (Asset & Property Management)
Value Add (modernization & residential environment)/ Development
Compliance | Innovation & | ||||||||||
Portfolio | |||||||||||
Officer | Management | Business Building | Operational | ||||||||
departments | |||||||||||
Board of Directors:
Defines sustainability strategy
Sustainability Committee:
Meets 3-4 times a year (Management Board / Heads of Sustainability, Communications and Financial Planning & Analysis)
Sustainability Agenda
Decides on strategic directions and sustainability goals
Sustainability Department:
Further development of the sustainability strategy & roadmap
Defines & monitors sustainability targets
Implements sustainability projects Gives impetus and drives initiatives
Responsible for reporting & sustainability report, ratings
Implementation of sustainability aspects in departments and operational units
Energy Efficiency in Construction and Housing | page 21 |
Highly Robust Corporate Governance
Governance
Governance
Dedicated ESG | Numerous policies | |
Department reporting | ||
published (e.g. human | ||
Highly robust governance | directly to the CEO; | |
rights, whistleblower, tax | ||
structure with two-tier | The Supervisory Board | |
understanding, etc.) | ||
board system and fully | monitors ESG issues in the | |
Committed to ILO Core | ||
independent supervisory | Audit Committee; | |
Labor Standards and UN | ||
board | Sustainability Committee | |
Global Compact on Human | ||
meets at regular intervals | ||
Rights | ||
and on a need-basis | ||
Roadmap
2020/2021
In the process of | Further development of | |
developing a concept for | Continued progress on | |
sustainability risk | ||
anchoring TCFD in our | ESG Ratings and inclusion | |
management and | ||
sustainability reporting | in leading ESG indices | |
environmental controlling | ||
and adopting EU taxonomy | ||
Energy Efficiency in Construction and Housing | page 22 |
Recognition of ESG Performance
ESG Ratings and Indices
ESG Ratings
Gold Award for three consecutive years | Upgraded in both ratings in 2020; Risk rating | |||||||||||||||||||||||||||||||
within 1st percentile of global rating universe | ||||||||||||||||||||||||||||||||
ESG Risk Rating 2020 | 100 | ESG Company Rating | 83 | |||||||||||||||||||||||||||||
50 | 52 | 58 | ||||||||||||||||||||||||||||||
7.7 | 50 | |||||||||||||||||||||||||||||||
2016 | 2017 | 2018/19 | 2020 | 0 | ||||||||||||||||||||||||||||
2017 | 2018 | 2019 | 2020 | |||||||||||||||||||||||||||||
Upgraded from BBB to A | Upgraded from C to B- in 2020 | |||||||||||||||||||||||||||||||
30% | 40% | |||||||||||||||||||||||||||||||
20% | 20% | |||||||||||||||||||||||||||||||
10% | ||||||||||||||||||||||||||||||||
0% | 0% | |||||||||||||||||||||||||||||||
CCC | B | BB | BBB | A | AA | AAA | D- | D | C- | C | B- | B | A- | A | ||||||||||||||||||
Upgraded from C- to C in 2020 | ||||||||||||||||||||||||||||||||
40% | No participation in 2020. See Vonovia's open letter at | |||||||||||||||||||||||||||||||
20% | https://investors.vonovia.de/websites/vonovia/English/4080/news- | |||||||||||||||||||||||||||||||
detail.html?newsID=2024595&type=corporate | ||||||||||||||||||||||||||||||||
0% | Constructive dialogue with GRESB to try and enable participation | |||||||||||||||||||||||||||||||
D- D D+ C- | C C+ B- | B B+ A- | A A+ | going forward | ||||||||||||||||||||||||||||
ESG Indices
Vonovia is a constituent of various ESG indices, including the following: DAX 50 ESG, STOXX Global ESG Leaders, STOXX Europe ESG Leaders 50, Dow Jones Sustainability Europe Index
Energy Efficiency in Construction and Housing | page 23 |
Governance Structure
Governance
The duties and authorities of the three governing bodies derive from the SE Regulation, the German Stock Corporation Act and the Articles of Association. In addition, Vonovia is fully in compliance with the German Corporate Governance Code.
In the two-tiergovernance system, the management and monitoring of the business are strictly separated from each other.
Annual General Meeting (AGM)
•
•
Shareholders can exercise their voting rights.
Decision making includes the appropriation of profit, discharge of members of the SVB and MB, and capital authorization.
Two-tier Governance System
Supervisory Board (SVB)
- Appoints, supervises and advises MB
- Examines and adopts the annual financial statements
- Forms Supervisory Board Committees
- Fully independent
- Board profile with all required skills and experience
Jürgen | Prof. Dr. | Burkhard Ulrich | Vitus | Dr. Florian | Dr. Ute |
Fitschen | Edgar Ernst | Drescher | Eckert | Funck | Geipel-Faber |
(Chairman) |
Daniel | Hildegard | Prof. Dr. | Dr. Ariane | Clara-Christina | Christian |
Just | Müller | Klaus Rauscher | Reinhart | Streit | Ulbrich |
Management Board (MB)
- Jointly accountable for independently managing the business in the best interest of the company and its stakeholders
- Informs the SVB regularly and comprehensively
-
Develops the company's strategy, coordinates it with the
SVB and executes that strategy
CEO | CFO |
Rolf | Helene |
Buch | von Roeder |
CRO | CDO |
Arnd | Daniel |
Fittkau | Riedl |
Energy Efficiency in Construction and Housing | page 24 |
Disclaimer
This presentation has been specifically prepared by Vonovia SE and/or its affiliates (together, "Vonovia") for internal use. Consequently, it may not be sufficient or
appropriate for the purpose for which a third party might use it.
This presentation has been provided for information purposes only and is being circulated on a confidential basis. This presentation shall be used only in accordance with applicable law, e.g. regarding national and international insider dealing rules, and must not be distributed, published or reproduced, in whole or in part, nor may its contents be disclosed by the recipient to any other person. Receipt of this presentation constitutes an express agreement to be bound by such confidentiality and the other terms set out herein.
This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of Vonovia ("forward-looking statements") which reflect various assumptions concerning anticipated results taken from Vonovia's current business plan or from public sources which have not been independently verified or assessed by Vonovia and which may or may not prove to be correct. Any forward-looking statements reflect current expectations based on the current business plan and various other assumptions and involve significant risks and uncertainties and should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements only speak as at the date the presentation is provided to the recipient. It is up to the recipient of this presentation to make its own assessment of the validity of any forward-looking statements and assumptions and no liability is accepted by Vonovia in respect of the achievement of such forward-looking statements and assumptions.
Vonovia accepts no liability whatsoever to the extent permitted by applicable law for any direct, indirect or consequential loss or penalty arising from any use of this presentation, its contents or preparation or otherwise in connection with it.
No representation or warranty (whether express or implied) is given in respect of any information in this presentation or that this presentation is suitable for the recipient's purposes. The delivery of this presentation does not imply that the information herein is correct as at any time subsequent to the date hereof.
Vonovia has no obligation whatsoever to update or revise any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof.
This presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities of the Company nor shall it or any part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever.
This presentation is neither an advertisement nor a prospectus and is made available on the express understanding that it does not contain all information that may be required to evaluate, and will not be used by the attendees/recipients in connection with, the purchase of or investment in any securities of the Company. This presentation is selective in nature and does not purport to contain all information that may be required to evaluate the Company and/or its securities. No reliance may or should be placed for any purpose whatsoever on the information contained in this presentation, or on its completeness, accuracy or fairness.
This presentation is not directed to or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.
Neither this presentation nor the information contained in it may be taken, transmitted or distributed directly or indirectly into or within the United States, its territories or possessions. This presentation is not an offer of securities for sale in the United States. The securities of the Company have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States. Consequently, the securities of the Company may not be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, into or within in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States unless registered under the Securities Act.
Tables and diagrams may include rounding effects. Per-share numbers for 2013 and 2014 are TERP-adjusted.
Energy Efficiency in Construction and Housing | page 25 |
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Vonovia SE published this content on 15 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2020 09:30:07 UTC