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German housing giant Vonovia loses 2 bln euros in Q2 due to devaluations

BERLIN, Aug. 4 (Xinhua) -- German real estate giant Vonovia on Friday posted losses of 2 billion euros (2.18 billion U.S. dollars) in the second quarter of 2023 after further devaluation of its real estate portfolio.

In the same period last year, the company made a profit of 1.8 billion euros.

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