Vonovia Profit Jumps as Acquisitions Bolster Rental Income

Vonovia SE, the Germany property company making a hostile takeover offer for a smaller competitor, said nine-month profit more than doubled and raised its full-year forecast as acquisitions caused its rental income to surge.

Funds from operations excluding sales, a measure of a real estate company’s ability to generate cash, rose to 432 million euros ($476 million) from 205 million euros a year earlier, Vonovia said in a statement Tuesday. FFO per share rose more slowly, by 14 percent to 93 cents, as the company paid for acquisitions by issuing stock.