4 Adjustment to Prior-Year Figures
The conclusion of the purchase price allocation in connection with the acquisition of the Deutsche Wohnen Group resulted in adjustments, for June 30, 2022, in the consolidated income statement, consolidated statement of comprehensive income, consolidated statement of cash flows and consolidated statement of changes in equity, which are explained in the relevant sections of the condensed interim consolidated financial statements.
In the 2022 fiscal year, Vonovia continued with the 2021 management system for the time being. Details can be found in the chapter Management System of the 2022 Annual Report. Vonovia’s business was managed via the five segments: Rental, Value-add, Recurring Sales, Development and Deutsche Wohnen.
In the course of the fourth quarter of 2022, the Deutsche Wohnen segment was dissolved and transferred to the Rental, Value-add, Recurring Sales, Development and Care segments. Details on the allocation of Deutsche Wohnen’s segment figures for the first half of 2022 to the five segments that are relevant from a corporate management perspective are presented below:
Allocation of Deutsche Wohnen's segment figures for the half-year of 2022
H1 2022 (adjusted)
Allocation to the segments
in € million
Removal of at-equity-investment from Adjusted EBITDA*
Jan. 1–June 30, 2022
thereof external revenue
thereof internal revenue
Carrying amount of assets sold***
Revaluation from disposal of assets held for sale
Expenses for maintenance
Cost of development to sell
Cost of development to hold
Adjusted EBITDA Total
- *Adjusted to new adjusted EBITDA definition (excluding results from at-equity investments), due to Vonovia’s minor control influence on the operating results of companies consolidated using the equity method.
- **The amounts shown in this column are transactions that took place in the old segment structure within the Deutsche Wohnen segment and now represent transactions between the segments of the new segment structure.
- ***Incl. cost of sold real estate inventories in the Recurring Sales segment.