Consolidated Balance Sheet Structure
|
||||||
|---|---|---|---|---|---|---|
|
in € million |
in % |
in € million |
in % |
||
|
|
|
|
|
||
Non-current assets |
55,082.8 |
97.5 |
57,881.8 |
95.4 |
||
Current assets |
1,431.0 |
2.5 |
2,763.6 |
4.6 |
||
Total assets |
56,513.8 |
100.0 |
60,645.4 |
100.0 |
||
|
|
|
|
|
||
Equity |
21,069.7 |
37.3 |
23,385.0 |
38.6 |
||
Non-current liabilities |
31,762.1 |
56.2 |
34,545.7 |
57.0 |
||
Current liabilities |
3,682.0 |
6.5 |
2,714.7 |
4.4 |
||
Total equity and liabilities |
56,513.8 |
100.0 |
60,645.4 |
100.0 |
||
|
||||||
The Group’s total assets increased by € 4,131.6 million as against December 31, 2019, rising from € 56,513.8 million to € 60,645.4 million. Investment properties reported under non-current assets increased by € 2,669.0 million, € 1,830.2 million of which is due to the result of the property valuation process. Real estate inventories rose by € 120.1 million from € 358.3 million to € 478.4 million. The € 83.2 million increase in non-current financial assets from € 331.7 million to € 414.9 million is characterized primarily by the acquisition of the stake in Vesteda and, with the opposite effect, by the closing out of embedded derivatives in connection with refinancing measures relating to Hembla. Assets held for sale fell by € 51.5 million from € 134.1 million as of December 31, 2019, to € 82.6 million. Cash and cash equivalents increased by € 1,212.9 million. Goodwill and trademark rights comprise 2.4% of the total assets.
As of September 30, 2020, the gross asset value (GAV) of Vonovia’s property assets came to € 56,343.0 million, which corresponds to 92.9% of total assets compared with € 53,586.3 million, or 94.8%, at the end of 2019.
The € 2,315.3 million increase in total equity from € 21,069.7 million to € 23,385.0 million results in particular from the capital increase of € 1.0 billion implemented on September 8, 2020, and from the profit for the period in the amount of € 1,891.6 million. The cash dividend distributions in the sum of € 504.6 million had the opposite effect.
This brings the equity ratio to 38.6%, compared with 37.3% at the end of 2019.
Liabilities rose by € 1,816.3 million from € 35,444.1 million to € 37,260.4 million. The amount of non-derivative financial liabilities rose by € 1,167.8 million, with the € 1,868.2 million increase in non-current non-derivative financial liabilities offset by the € 700.4 million drop in current non-derivative financial liabilities.