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Interim Statement Q1 2020

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Consolidated Income Statement

in € million

Jan. 1– Mar. 31, 2019

Jan. 1– Mar. 31, 2020

The other financial result is shown additionally since December 31, 2019, in order to improve the presentation of the income statement and to separate interest income and interest expenses. As a result of the reporting amendment, financial income (interest income) decreased in the previous year by € 9.8 million and financial expenses (interest expenses) by € 13.7 million. For this purpose, the currency effects in the amount of € 1.2 million, the income from investments in the amount of € 8.4 million, the transaction costs in the amount of € -13.1 million as well as the purchase price liabilities from put options/rights to reimbursement in the amount of € -0.4 million in the prior-year figures are shown separately under other financial result.

 

 

 

Income from property letting

694.2

760.5

Other income from property management

17.5

17.6

Income from property management

711.7

778.1

 

 

 

Income from the disposal of properties

154.5

158.4

Carrying amount of properties sold

-137.1

-134.6

Revaluation of assets held for sale

6.0

5.4

Profit on the disposal of properties

23.4

29.2

 

 

 

Income from the disposal of properties (Development)

59.4

45.4

Cost of sold properties

-46.1

-38.2

Profit on the disposal of properties (Development)

13.3

7.2

 

 

 

Net income from fair value adjustments of investment properties

56.9

4.1

Capitalized internal expenses

138.5

141.1

Cost of materials

-334.5

-354.9

Personnel expenses

-133.9

-143.5

Depreciation and amortization

-16.5

-19.3

Other operating income

24.3

35.3

Impairment losses on financial assets

-5.5

-7.2

Gains resulting from the derecognition of financial assets measured at amortized cost

1.1

1.1

Other operating expenses

-58.7

-67.6

Net income from investments accounted for using the equity method

0.1

0.0

Interest income

1.4

13.7

Interest expenses

-101.6

-102.0

Other financial result

-3.9

2.8

Earnings before tax

316.1

318.1

 

 

 

Income taxes

-114.7

-106.5

Profit for the period

201.4

211.6

 

 

 

Attributable to:

 

 

Vonovia’s shareholders

185.2

197.5

Vonovia’s hybrid capital investors

7.4

7.4

Non-controlling interests

8.8

6.7

Earnings per share (basic and diluted) in €

0.36

0.36