22 Related Party Transactions

Vonovia had business relationships with related parties in the first half of 2022. These transactions resulted from the normal exchange of deliveries and services.

In the first six months of 2022, Vonovia’s significant business relations related to the QUARTERBACK Group. As of June 30, 2022, loan receivables were recognized in the amount of € 845.5 million (December 31, 2021: € 806.5 million), payable at the latest twelve months after the reporting date. The average interest rate for the loans is 5.05%.

There are real estate project sales of the QUARTERBACK Group to Vonovia in the amount of € 876.0 million as of June 30, 2022 (December 31, 2021: € 876.0 million), in respect of which Vonovia made advance payments of € 53.7 million in the first half of 2022 (December 31, 2021: € 135.8 million).

In connection with agency services contracted by the QUARTERBACK Group in the amount of € 29.6 million, Vonovia has outstanding balances on liabilities of € 2.2 million as of June 30, 2022 (December 31, 2021: € 0.9 million). There is also a guarantee for the QUARTERBACK Group in the amount of € 12.3 million for the fiscal year (December 31, 2021: € 12.3 million).

Vonovia also has outstanding balances on liabilities of € 2.0 million vis-à-vis B&O Service Berlin GmbH, Berlin, as of June 30, 2022 (December 31, 2021: € 2.8 million) for services purchased in the first half of 2022 in the amount of € 65.7 million (December 31, 2021: € 34.9 million).

As of June 30, 2022, Vonovia has outstanding balances on receivables of € 1.5 million vis-à-vis G+D Gesellschaft für Energiemanagement mbH, Magdeburg (December 31, 2021: € 2.3 million). In the reporting period, services worth € 2.2 million (December 31, 2021: € 2.6 million) were provided to G+D Gesellschaft für Energiemanagement mbH, Magdeburg, while services worth € 41.6 million (December 31, 2021: € 15.5 million) were purchased.