Consolidated Balance Sheet Structure
|
Dec. 31, 2019* |
June 30, 2019 |
||||
|---|---|---|---|---|---|---|
|
in € million |
in % |
in € million |
in % |
||
|
||||||
|
|
|
|
|
||
Non-current assets |
55,082.8 |
97.5 |
57,713.8 |
96.7 |
||
Current assets |
1,431.0 |
2.5 |
1,951.2 |
3.3 |
||
Total assets |
56,513.8 |
100.0 |
59,665.0 |
100.0 |
||
|
|
|
|
|
||
Equity |
21,069.7 |
37.3 |
21,814.7 |
36.6 |
||
Non-current liabilities |
31,762.1 |
56.2 |
34,114.6 |
57.2 |
||
Current liabilities |
3,682.0 |
6.5 |
3,735.7 |
6.2 |
||
Total equity and liabilities |
56,513.8 |
100.0 |
59,665.0 |
100.0 |
||
The Group’s total assets increased by € 3,151.2 million as against December 31, 2019, rising from € 56,513.8 million to € 59,665.0 million. Investment properties reported under non-current assets increased by € 2,427.1 million, € 1,812.3 million of which is due to the result of the property valuation process. Real estate inventories rose by € 89.8 million from € 358.3 million to € 448.1 million. The € 149.2 million increase in non-current financial assets from € 331.7 million to € 480.9 million is due mainly to the acquisition of the stake in Vesteda. Assets held for sale fell by € 97.2 million from € 134.1 million as of December 31, 2019, to € 36.9 million. Cash and cash equivalents increased by € 448.5 million. Goodwill and trademark rights comprise 2.5% of the total assets.
As of June 30, 2020, the gross asset value (GAV) of Vonovia’s property assets came to € 55,990.1 million, which corresponds to 93.8% of total assets compared with € 53,586.3 million, or 94.8%, at the end of 2019.
The € 745.0 million increase in total equity from € 21,069.7 million to € 21,814.7 million results in particular from the profit for the period in the amount of € 1,618.1 million. The dividend of € 851.4 million on which a resolution was passed at the Annual General Meeting held on June 30, 2020, and which is recognized as a liability until it is paid out, had the opposite effect.
This brings the equity ratio to 36.6%, compared with 37.3% at the end of 2019.
Liabilities rose by € 2,406.2 million from € 35,444.1 million to € 37,850.3 million. The amount of non-derivative financial liabilities rose by € 829.4 million, with the € 1,521.4 million increase in non-current non-derivative financial liabilities offset by the € 692.0 million drop in current non-derivative financial liabilities.