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Bochum (dpa) - Germany's largest landlord Vonovia has also grown vigorously in the Corona crisis year through rising rents, acquisitions and new buildings.
In 2020, operating profit increased by 10.6 percent year-on-year to 1.35 billion euros, as announced by the Dax company in Bochum.
Sales and profits are expected to continue to rise in 2021 as well.
The group rents around 416,000 apartments, including around 355,000 in Germany.
According to Vonovia, this means that it has a market share of 1.5 percent in this country.
The market value of the real estate portfolio rose by 10.5 percent to just under 59 billion euros in 2020 thanks to the very high demand for apartments.
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The rent for Vonovia apartments rose to an average of 7.16 euros per square meter in 2020 - 3.3 percent more than a year earlier.
In Germany it was 6.95 euros per square meter at the end of December.
In the case of existing rents, the plus was only 0.6 percent, emphasized CEO Rolf Buch when presenting the figures.
Vonovia refrained from raising rent for months because of the pandemic and did not issue any terminations.
“Vonovia is solid as a rock,” said Buch.
The German Federation of Trade Unions sees it differently.
Board member Stefan Körzell spoke of a "slap in the face of tenants, who at the moment often do not know how to make ends meet".
The DGB calls for a nationwide six-year rent freeze.
The tenants need a respite.
"A company like Vonovia can easily cope if no rent increases are possible for six years," said Körzell, according to the announcement.
There was also criticism from the German Tenants' Association (DMB) in North Rhine-Westphalia.
While Vonovia wants to increase the dividend by 7.6 percent, tenants have often had to pay for their apartment from their savings for months.
Vonovia wants to raise the dividend by 12 cents to 1.69 euros.
Buch expects such debates to increase before the general election.
"We are aware that living will be a sensitive issue this election year."
However, the elections should not be used for polarization.
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In the past year, Vonovia invested a little less with around 1.9 billion euros in the modernization, new construction and maintenance of apartments.
For example, there were delays in the new building due to the safety precautions in the wake of the corona pandemic.
Vonovia completed a good 2,000 apartments in 2020, almost as many as in 2019. "We would like to build more," said Buch.
The known problems such as long approval times and lack of land prevented that.
© dpa-infocom, dpa: 210304-99-687212 / 2
Vonovia Annual Report