May 5, 2020 / 5:25 AM / a month ago

Vonovia sticks to forecasts, coronavirus impact limited

BERLIN, May 5 (Reuters) - German residential real estate company Vonovia on Tuesday stood by its profit forecasts for 2020, saying it expected a very low, temporary reduction in rental payments due to hardship caused by the coronavirus pandemic.

“We assured our tenants early on that they do not need to worry about their apartment due to financial difficulties caused by short-time work, job losses or a decline in orders,” CEO Rolf Buch said in a statement.

“We are finding individual solutions together with our tenants in case of payment difficulties.” (Reporting by Douglas Busvine Editing by Riham Alkousaa)

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