Vonovia Keeps Net Debt Target Below 12x as Rates Slow Sales

Vonovia said on October 28, 2026 its target of net debt to EBITDA (earnings before interest, tax and depreciation) below 12 times is unchanged. The release warned higher rates and weaker financing are constraining transaction and sales activity. Planned disposals were a main debt-cutting lever, so the ratio now leans more on earnings growth and refinancing costs.