(Adds details on coronavirus effects, FFO, forecast)
VIENNA, Nov 4 (Reuters) - German residential real estate company Vonovia on Wednesday posted a 7.6% increase in nine-month operating profit and confirmed its 2020 forecast for the figure.
Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose to 1.43 billion euros ($1.67 billion) in the period, the Bochum-based landlord said.
The coronavirus pandemic did not have a significant impact on its operational or financial performance, according to the group, which manages around 415.000 residential units and 73.000 apartments, mainly in Germany.
However, there had been an impact on modernisation and construction measures but those have resumed and continue in full, the company said.
Vonovia said it expects defaults to remain low in the future as well. Its portfolio was well let, with a vacancy rate of 2.6% at end-September.
Vonovia guided for its full-year target for group FFO, funds from operations or recurring earnings from its operating business, to come in at the upper end of its forecast range of 1.275-1.325 billion euros.
The number increased 8.9% to 1.02 billion euros from January to end-September. ($1 = 0.8581 euros) (Reporting by Kirsti Knolle Editing by Maria Sheahan and Michelle Adair)
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