Half-Year Report 2020

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8 Profit on Disposal of Properties

in € million

Jan. 1– June 30, 2019

Jan. 1– June 30, 2020

 

 

 

Income from disposal of investment properties

110.4

153.2

Carrying amount of investment properties sold

-78.4

-95.4

Profit on disposal of investment properties

32.0

57.8

 

 

 

Income from sale of assets held for sale

116.3

164.4

Retirement carrying amount of assets held for sale

-116.3

-164.4

Revaluation of assets held for sale

27.0

14.9

Profit on disposal of assets held for sale

27.0

14.9

 

59.0

72.7

 

 

 

The fair value adjustment of residential properties held for sale, for which a purchase contract had been signed but transfer of title had not yet taken place, led to a gain of € 14.9 million as of June 30, 2020 (H1 2019: € 27.0 million).

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.