15 Segment Reporting
The following table shows the segment information for the reporting period:
in € million |
Rental |
Value-add |
Recurring Sales |
Development |
Segments total |
Other* |
Consolidation* |
Group |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
||||
|
||||||||||||
Jan. 1–June 30, 2020 |
|
|
|
|
|
|
|
|
||||
Segment income |
1,132.9 |
760.4 |
195.0 |
107.5 |
2,195.8 |
122.6 |
-337.0 |
1,981.4 |
||||
thereof external income |
1,132.9 |
131.2 |
195.0 |
107.5 |
1,566.6 |
122.6 |
292.2 |
1,981.4 |
||||
thereof internal income |
|
629.2 |
|
|
629.2 |
|
-629.2 |
|
||||
Carrying amount of assets sold |
|
|
-161.4 |
|
-161.4 |
-98.4 |
|
|
||||
Revaluation from disposal of assets held for sale |
|
|
20.9 |
|
20.9 |
8.7 |
|
|
||||
Expenses for maintenance |
-154.7 |
|
|
|
-154.7 |
|
|
|
||||
Production costs development |
|
|
|
-83.7 |
-83.7 |
|
|
|
||||
Operating expenses |
-196.8 |
-692.8 |
-6.4 |
-5.2 |
-901.2 |
-2.6 |
320.9 |
|
||||
Net income from fair value adjustments of development to hold** |
|
|
|
26.5 |
26.5 |
|
-26.5 |
|
||||
Adjusted EBITDA Total |
781.4 |
67.6 |
48.1 |
45.1 |
942.2 |
30.3 |
-42.6 |
929.9 |
||||
|
|
|
|
|
|
|
|
|
||||
Non-recurring items |
|
|
|
|
|
|
|
-37.9 |
||||
Period adjustments from assets held for sale |
|
|
|
|
|
|
|
-14.6 |
||||
Income from investments in other real estate companies |
|
|
|
|
|
|
|
– |
||||
EBITDA IFRS |
|
|
|
|
|
|
|
877.4 |
||||
|
|
|
|
|
|
|
|
|
||||
Net income from fair value adjustments of investment properties |
|
|
|
|
|
|
|
1,812.3 |
||||
Depreciation and amortization |
|
|
|
|
|
|
|
-42.2 |
||||
Income from other investments |
|
|
|
|
|
|
|
-9.3 |
||||
Interest income |
|
|
|
|
|
|
|
14.7 |
||||
Interest expenses |
|
|
|
|
|
|
|
-215.1 |
||||
Other financial result |
|
|
|
|
|
|
|
4.2 |
||||
EBT |
|
|
|
|
|
|
|
2,442.0 |
||||
|
|
|
|
|
|
|
|
|
||||
Income taxes |
|
|
|
|
|
|
|
-823.9 |
||||
Profit for the period |
|
|
|
|
|
|
|
1,618.1 |
||||
in € million |
Rental |
Value-add |
Recurring Sales |
Development |
Segments total |
Other* |
Consolidation* |
Group |
||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
|
||
|
||||||||||
Jan. 1–June 30, 2019 |
|
|
|
|
|
|
|
|
||
Segment income |
1,014.8 |
760.9 |
174.9 |
124.9 |
2,075.5 |
51.8 |
-343.6 |
1,783.7 |
||
thereof external income |
1,014.8 |
134.9 |
174.9 |
124.9 |
1,449.5 |
51.8 |
282.4 |
1,783.7 |
||
thereof internal income |
|
626.0 |
|
|
626.0 |
|
-626.0 |
|
||
Carrying amount of assets sold |
|
|
-145.8 |
|
-145.8 |
-48.9 |
|
|
||
Revaluation from disposal of assets held for sale |
|
|
21.3 |
|
21.3 |
5.9 |
|
|
||
Expenses for maintenance |
-147.0 |
|
|
|
-147.0 |
|
|
|
||
Production costs development |
|
|
|
-95.2 |
-95.2 |
|
|
|
||
Operating expenses |
-143.8 |
-685.2 |
-8.0 |
-16.7 |
-853.7 |
-2.8 |
319.8 |
|
||
Net income from fair value adjustments of development to hold |
|
|
|
17.7 |
17.7 |
|
-17.7 |
|
||
Adjusted EBITDA Total |
724.0 |
75.7 |
42.4 |
30.7 |
872.8 |
6.0 |
-41.5 |
837.3 |
||
|
|
|
|
|
|
|
|
|
||
Non-recurring items |
|
|
|
|
|
|
|
-25.3 |
||
Period adjustments from assets held for sale |
|
|
|
|
|
|
|
-0.3 |
||
Income from investments in other real estate companies |
|
|
|
|
|
|
|
0.2 |
||
EBITDA IFRS |
|
|
|
|
|
|
|
811.9 |
||
|
|
|
|
|
|
|
|
|
||
Net income from fair value adjustments of investment properties |
|
|
|
|
|
|
|
2,258.7 |
||
Depreciation and amortization |
|
|
|
|
|
|
|
-1,935.9 |
||
Income from other investments |
|
|
|
|
|
|
|
-9.0 |
||
Interest income |
|
|
|
|
|
|
|
3.5 |
||
Interest expenses |
|
|
|
|
|
|
|
-214.8 |
||
Other financial result |
|
|
|
|
|
|
|
-12.8 |
||
EBT |
|
|
|
|
|
|
|
901.6 |
||
|
|
|
|
|
|
|
|
|
||
Income taxes |
|
|
|
|
|
|
|
-776.3 |
||
Profit for the period |
|
|
|
|
|
|
|
125.3 |
||
The following table gives a detailed list of the non-recurring items for the reporting period:
in € million |
Jan. 1– June 30, 2019 |
Jan. 1– June 30, 2020 |
||
|---|---|---|---|---|
|
|
|
||
|
||||
Acquisition costs incl. integration costs* |
11.6 |
22.1 |
||
Severance payments/pre retirement part-time work arrangements |
8.9 |
7.2 |
||
Business model optimization/development of new field of business |
0.6 |
8.6 |
||
Refinancing and equity measures |
4.2 |
– |
||
Total non-recurring items |
25.3 |
37.9 |
||
The breakdown of external revenue from contracts with customers (pursuant to IFRS 15.114f.) and its allocation to the segments referred to above is as follows:
in € million |
Rental |
Value-add |
Recurring Sales |
Development |
Other |
Total |
||
|---|---|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
||
|
||||||||
Jan. 1–June 30, 2020 |
|
|
|
|
|
|
||
Revenue from ancillary costs (IFRS 15) |
289.4 |
0.1 |
– |
-0.2 |
– |
289.3 |
||
Income from disposal of investment properties |
– |
– |
104.5 |
– |
48.7 |
153.2 |
||
Income from the disposal of real estate inventories (Development) |
– |
– |
– |
107.5 |
– |
107.5 |
||
Other revenue from contracts with customers |
11.0 |
24.3 |
– |
0.2 |
|
35.5 |
||
Revenue from contracts with customers |
300.4 |
24.4 |
104.5 |
107.5 |
48.7 |
585.5 |
||
thereof period-related |
|
|
|
74.5 |
|
74.5 |
||
thereof time-related |
300.4 |
24.4 |
104.5 |
33.0 |
48.7 |
511.0 |
||
Income from rental income (IFRS 16) |
1,132.9 |
0.9 |
|
0.4 |
|
1,134.2 |
||
Revenue from ancillary costs (IFRS 16)* |
97.3 |
– |
– |
– |
– |
97.3 |
||
Income from sale of assets held for sale (IFRS 5) |
– |
– |
90.5 |
– |
73.9 |
164.4 |
||
Other revenue |
1,230.2 |
0.9 |
90.5 |
0.4 |
73.9 |
1,395.9 |
||
Revenues |
1,530.6 |
25.3 |
195.0 |
107.9 |
122.6 |
1,981.4 |
||
|
|
|
|
|
|
|
||
Jan. 1–June 30, 2019 |
|
|
|
|
|
|
||
Revenue from ancillary costs (IFRS 15) |
314.7 |
0.2 |
– |
0.1 |
– |
315.0 |
||
Income from disposal of investment properties |
– |
– |
86.0 |
– |
24.4 |
110.4 |
||
Income from the disposal of real estate inventories (Development) |
– |
– |
– |
124.9 |
– |
124.9 |
||
Other revenue from contracts with customers |
7.2 |
27.9 |
– |
0.1 |
– |
35.2 |
||
Revenue from contracts with customers |
321.9 |
28.1 |
86.0 |
125.1 |
24.4 |
585.5 |
||
thereof period-related |
|
|
|
97.7 |
|
97.7 |
||
thereof time-related |
321.9 |
28.1 |
86.0 |
27.4 |
24.4 |
487.8 |
||
Income from rental income (IFRS 16) |
1,014.8 |
1.0 |
– |
0.4 |
– |
1,016.2 |
||
Revenue from ancillary costs (IFRS 16)* |
65.7 |
– |
– |
– |
– |
65.7 |
||
Income from sale of assets held for sale (IFRS 5) |
– |
– |
88.9 |
|
27.4 |
116.3 |
||
Other revenue |
1,080.5 |
1.0 |
88.9 |
0.4 |
27.4 |
1,198.2 |
||
Revenues |
1,402.4 |
29.1 |
174.9 |
125.5 |
51.8 |
1,783.7 |
||
External income and non-current assets, excluding financial instruments, deferred taxes, post-employment benefits and rights under insurance contracts, are distributed among Vonovia’s country of origin and other countries as follows. The revenue and the assets are allocated based on the registered office of the unit providing the service.
|
External income |
Assets |
||
|---|---|---|---|---|
in € million |
June 30, 2019 |
June 30, 2020 |
Dec. 31, 2019 |
June 30, 2020 |
|
|
|
|
|
Germany |
1,504.2 |
1,648.6 |
44,969.4 |
47,417.6 |
Austria |
213.3 |
168.2 |
3,067.9 |
3,166.1 |
Sweden |
66.0 |
164.5 |
6,777.8 |
6,852.0 |
France |
|
|
104.1 |
104.1 |
Other countries |
0.2 |
0.1 |
88.1 |
114.6 |
Total |
1,783.7 |
1,981.4 |
55,007.3 |
57,654.4 |
|
|
|
|
|