Consolidated Balance Sheet Structure
|
Dec. 31, 2020 |
June 30, 2021 |
||
|---|---|---|---|---|
|
in € million |
in % |
in € million |
in % |
|
|
|
|
|
Non-current assets |
60,632.0 |
97.1 |
68,062.7 |
95.2 |
Current assets |
1,785.4 |
2.9 |
3,466.0 |
4.8 |
Total assets |
62,417.4 |
100.0 |
71,528.7 |
100.0 |
|
|
|
|
|
Equity |
24,831.8 |
39.8 |
27,075.6 |
37.9 |
Non-current liabilities |
34,669.8 |
55.5 |
40,440.2 |
56.5 |
Current liabilities |
2,915.8 |
4.7 |
4,012.9 |
5.6 |
Total equity and liabilities |
62,417.4 |
100.0 |
71,528.7 |
100.0 |
|
|
|
|
|
The Group’s total assets increased by € 9,111.3 million as against December 31, 2020, rising from € 62,417.4 million to € 71,528.7 million. , Non-current financial assets rose by a total of € 3,416.2 million, in particular due to the shares in Deutsche Wohnen SE that were acquired separately and independently of the voluntary public takeover offer via the stock exchange. Investment properties reported under non-current assets increased by € 4,212.1 million, € 3,698.6 million of which is due to the result of the property valuation process. Real estate inventories fell by € 46.7 million from € 570.4 million to € 523.7 million. Assets held for sale fell by € 95.3 million from € 164.9 million as of December 31, 2020, to € 69.6 million. Cash and cash equivalents increased by € 1,640.3 million from € 613.3 million to € 2,253.6 million, largely due to borrowings on the debt market, contributing to the increase in assets.
Goodwill and trademark rights comprised 1.9% of the total assets.
As of June 30, 2021, the gross asset value (GAV) of Vonovia’s property assets came to € 63,400.5 million, which corresponds to 88.6% of total assets compared with € 59,207.1 million, or 94.9%, at the end of 2020.
The € 2,243.8 million increase in total equity from € 24,831.8 million to € 27,075.6 million results in particular from the profit for the period in the amount of € 2,680.1 million. The cash dividend distributions in the sum of € 486.0 million had the opposite effect.
This brings the equity ratio to 37.9%, compared with 39.8% at the end of 2020.
Liabilities increased by € 6,867.5 million from € 37,585.6 million to € 44,453.1 million, in particular due to the bond placement on June 16, 2021 in the amount of € 4 billion and the issue of a green bond in the amount of € 600 million in the first quarter of 2021. The amount of non-derivative financial liabilities rose by € 5,405.0 million, with € 4,489.2 million attributable to the increase in non-current non-derivative financial liabilities. Deferred tax liabilities increased by € 1,361.2 million, mostly due to the fair value measurement of Investment Properties.