Consolidated Income Statement

in € million	Jan. 1-Mar. 31, 2021	Jan. 1-Mar. 31, 2022

Income from property letting	782.6	1,076.0
Other income from property management	19.3	99.4
Income from property management	801.9	1,175.4

Income from the disposal of properties	201.7	2,668.4
Carrying amount of properties sold	-183.4	-2,641.3
Revaluation of assets held for sale	16.0	14.0
Profit from disposal of properties	34.3	41.1

Income from the disposal of properties	84.2	253.5
Cost of sold properties	-71.4	-202.9
Profit from the disposal of properties	12.8	50.6

Net income from fair value adjustments of investment properties	2.4	404.8
Capitalized internal expenses	144.6	147.4
Cost of materials	-353.2	-492.9
Personnel expenses	-151.8	-218.4
Depreciation and amortization	-21.2	-1,114.0
Other operating income	31.4	62.4
Impairment losses on financial assets	-3.3	-11.6
Net income from the derecognition of financial assets measured at amortized cost	0.0	1.0
Other operating expenses	-52.1	-73.5
Net income from investments accounted for using the equity method	0.1	1.0
Interest income	2.2	21.5
Interest expenses	-79.0	-59.9
Other financial result	5.3	10.4
Earnings before tax	374.4	-54.7
Income taxes	-127.4	25.6
Profit for the period	247.0	-29.1

Attributable to:
Vonovia’s shareholders	234.7	-64.7
Vonovia’s hybrid capital investors	7.4	–
Non-controlling interests	4.9	35.6

Earnings per share (basic and diluted) in €	0.39	-0.08