Consolidated Income Statement

Consolidated Income Statement

in € million

Jan. 1- Mar. 31, 2022

Jan. 1- Mar. 31, 2023

Revenue from property letting

1,076.0

1,259.0

Other revenue from property management

99.4

118.4

Revenue from property management

1,175.4

1,377.4

Income from disposal of properties

2,668.4

112.3

Carrying amount of properties sold

-2,641.3

-92.1

Revaluation of assets held for sale

14.0

7.2

Profit from the disposal of properties

41.1

27.4

Revenue from disposal of real estate inventories

253.5

33.7

Cost of sold real estate inventories

-202.9

-27.7

Profit from disposal of real estate inventories

50.6

6.0

Net income from fair value adjustments of investment properties

404.8

-3,612.2

Capitalized internal expenses

147.4

115.4

Cost of materials

-492.9

-660.2

Personnel expenses

-218.4

-238.0

Depreciation and amortization*

-949.7

-29.9

Other operating income

62.4

51.1

Impairment losses on financial assets

-11.6

-2.9

Net income from the derecognition of financial assets measured at amortized cost

1.0

1.2

Other operating expenses

-73.5

-81.6

Net income from investments accounted for using the equity method

1.0

-0.1

Interest income

21.5

33.3

Interest expenses

-59.9

-195.9

Other financial result

10.4

25.0

Earnings before tax

109.6

-3,184.0

Income taxes*

-51.3

1,095.9

Profit for the period

58.3

-2,088.1

Attributable to:

Vonovia’s shareholders

22.7

-1,962.0

Non-controlling interests

35.6

-126.1

Earnings per share (diluted) in €

0.08

-2.47

Earnings per share (basic) in €

0.08

-2.47

  1. *The impairment test for goodwill was recalculated due to the conclusion of the purchase price allocation in connection with the acquisition of Deutsche Wohnen. As a result, the impairment loss to be recognized as of March 31, 2022, decreased by € 164.3 million and income taxes increased by € 76.9 million.