Assets
Consolidated Balance Sheet Structure
Consolidated Balance Sheet Structure | |||||||||
Dec. 31, 2022 | Mar. 31, 2023 | ||||||||
in € million | in % | in € million | in % | ||||||
Non-current assets | 96,037.9 | 94.7 | 92,742.1 | 94.9 | |||||
Current assets | 5,351.7 | 5.3 | 4,997.0 | 5.1 | |||||
Total assets | 101,389.6 | 100.0 | 97,739.1 | 100.0 | |||||
Equity | 34,438.8 | 34.0 | 32,253.5 | 33.0 | |||||
Non-current liabilities | 61,474.9 | 60.6 | 59,573.3 | 61.0 | |||||
Current liabilities | 5,475.9 | 5.4 | 5,912.3 | 6.0 | |||||
Total equity and liabilities | 101,389.6 | 100.0 | 97,739.1 | 100.0 | |||||
The Group’s total assets dropped by € 3,650.5 million as against December 31, 2022, falling from € 101,389.6 million to € 97,739.1 million. The main development in non-current assets is the decline in investment properties of € 3,319.5 million on account of the write-down performed. The disposal of the French non-current equity investments is reflected in non-current financial assets.
Current assets changed due in particular to a decline in current financial assets by € 189.6 million, a development that is attributable almost in full to a reclassification due to the granting of new long-term loans to QUARTERBACK Immobilien AG. In addition, trade receivables fell by € 83.9 million and real estate inventories by € 61.1 million.
Goodwill and trademark rights comprised 1.6% of the total assets. This share is unchanged as against December 31, 2022.
As of March 31, 2023, the gross asset value (GAV) of Vonovia’s property assets came to € 91,701.4 million. This corresponds to 93.8 % of total assets, as against € 95,125.5 million or 93.8 % at the end of 2022.
Equity fell by € 2,185.3 million, from € 34,438.8 million to € 32,253.5 million, mainly due to the profit for the period of € –2,088.1 million. The other comprehensive income of € –97.0 million was influenced to a significant degree by currency effects amounting to € –70.0 million.
The equity ratio stood at 33.0% as of March 31, 2023 , compared with 34.0 % at the end of 2022.
Liabilities dropped by € 1,465.2 million from € 66,950.8 million to € 65,485.6 million. The amount of non-current non-derivative financial liabilities fell by € 737.7 million, whereas current non-derivative financial liabilities rose by € 410.1 million.
Deferred tax liabilities fell by € 1,148.9 million.