May 16, 2017 / 8:20 AM / 7 months ago

Vonovia to update guidance on May 24 - CEO

BOCHUM, Germany, May 16 (Reuters) - Germany’s biggest residential real estate company Vonovia plans to provide more precise earnings guidance when it presents first-quarter financial results on May 24, its chief executive said.

“The first three months of the year look very good,” Rolf Buch said, according to the prepared text of a speech he is holding at Vonovia’s annual general meeting on Tuesday.

So far, the group expects its 2017 core profit (FFO I) to rise to between 830 and 850 million euros, not factoring in about 60 million euros of earnings from Austrian property group Conwert, which it agreed to acquire in September. (Reporting by Matthias Inverardi; Writing by Maria Sheahan; Editing by Edward Taylor)

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