Annual Report 2020

1 General Information

Vonovia SE is incorporated and domiciled in Germany. The company is registered in the commercial register at the local court in Bochum under HRB 16879. Its registered office is at Universitätsstraße 133, 44803 Bochum, Germany.

The consolidated financial statements as of and for the year ended December 31, 2020, have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted in the EU. In addition, the supplementary commercial law provisions under Section 315e (1) of the German Commercial Code (HGB) have been observed. Changes due to reclassifications are set out in chapter [A2] Adjustment to Prior-year Figures.

The consolidated financial statements have been prepared on the basis of amortized cost except for investment properties, assets held for sale, derivative financial instruments, plan assets and equity instruments at fair value in other comprehensive income. These are measured at their fair value. The income statement has been prepared using the nature of expense method.

These consolidated financial statements are presented in euros, which is the Group’s functional currency. Unless stated otherwise, all figures are shown in million euros (€ million).

The following overview indicates the chapters on the individual topics containing disclosures on accounting policies, judgments and estimates:

Chapter

Accounting policies, judgments, estimates

 

 

A6

Currency translation

A7

Government grants

B

Recognition of income and expenses

B12

Profit on the disposal of properties (Development)

B22

Income taxes

C24

Earnings per share

D26

Other intangible assets/goodwill

D27

Property, plant and equipment

D28

Investment properties

D29

Financial assets

D32

Inventories

D33

Impairment losses on financial assets

D34

Cash and cash equivalents

D35

Real estate inventories

D36

Assets held for sale

E37

Income and expense recognized directly in other comprehensive income

E38

Provisions for pensions and similar obligations/other provisions

E40

Non-derivative financial liabilities

E42

Leases

E43

Liabilities to non-controlling interests

E44

Financial liabilities from tenant financing

F47

Share-based payment

 

Fair Value
Fair value is particularly relevant with regard to valuation in accordance with IAS 40 in conjunction with IFRS 13. The fair value is the amount for which an asset could be exchanged between knowledgeable, willing parties in an arm’s length transaction.