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Healthcare

BRIEF-Vonovia Says Business Has Proven Its Stability So Far

April 8 (Reuters) - Vonovia SE:

* VONOVIA OPERATIONAL UPDATE – BUSINESS HAS PROVEN ITS STABILITY SO FAR

* OPERATING BUSINESS WITH RENTAL AND VALUE-ADD SEGMENTS VERY ROBUST WITH NO MATERIAL SIGNS OF WEAKNESS

* Q1 RECURRING SALES PERFORMANCE WAS IN LINE WITH EXPECTATIONS AS MOST SALES CONTRACTS HAD BEEN AGREED PRIOR TO THE IMPOSITION OF THE CORONA RESTRICTIONS

* CURRENT SLOWDOWN IN RESERVATIONS IS EXPECTED TO LEAD TO A DELAY EFFECT, WHICH WE ARE CONFIDENT CAN BE PICKED UP ONCE RESTRICTIONS BEGIN TO BE LIFTED

* MODERNIZATION AND NEW CONSTRUCTION ACTIVITY ONGOING BUT COMPLETION FOR SOME PROJECTS MAY BE DELAYED TO 2021

* CONFIRMS THAT THE BUSINESS SO FAR HAS BEEN PROVING ITS ROBUSTNESS EVEN IN THESE UNPRECEDENTED TIMES. Source text for Eikon: [tinyurl.com/stj43xb] Further company coverage: (Berlin Speed Desk)

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