Consolidated Income Statement

in € million	Notes	Jan. 1-Jun. 30, 2021	Jan. 1-Jun. 30, 2022	Apr. 1– Jun. 30, 2021	Apr. 1– Jun. 30, 2022

Income from property letting		1,569.9	2,171.7	787.3	1,095.7
Other income from property management		37.9	207.5	18.6	108.1
Income from property management	B5	1,607.8	2,379.2	805.9	1,203.8

Income from disposal of properties		356.9	2,905.1	155.2	236.7
Carrying amount of properties sold		-310.8	-2,863.2	-127.4	-221.9
Revaluation of assets held for sale		31.5	38.3	15.5	24.3
Profit from disposal of properties	B6	77.6	80.2	43.3	39.1

Income from disposal of real estate inventories		191.7	380.5	107.5	127.0
Cost of sold real estate inventories		-160.2	-305.3	-88.8	-102.4
Profit from disposal of real estate inventories	B7	31.5	75.2	18.7	24.6

Net income from fair value adjustments of investment properties	B8	3,698.6	3,115.9	3,696.2	2,711.1
Capitalized internal expenses		312.2	315.4	167.6	168.0
Cost of materials	B9	-721.8	-1,033.8	-368.6	-540.9
Personnel expenses		-305.0	-423.2	-153.2	-204.8
Depreciation and amortization*		-234.3	-1,268.4	-213.1	-154.4
Other operating income	B17	65.6	104.9	34.2	42.5
Impairment losses on financial assets		-8.2	-17.5	-4.9	-5.9
Net income from the derecognition of financial assets measured at amortized cost		-0.9	2.1	-0.9	1.1
Other operating expenses		-189.5	-150.6	-137.4	-77.1
Net income from investments accounted for using the equity method		0.2	-285.3	0.1	-286.3
Interest income	B10	3.9	35.8	1.7	14.3
Interest expenses	B11	-179.8	-152.5	-100.8	-92.6
Other financial result	B12	-66.6	-4.4	-71.9	-14.8
Earnings before tax		4,091.3	2,773.0	3,716.9	2,827.7
Income taxes		-1,411.2	-976.6	-1,283.8	-1,002.2
Profit for the period		2,680.1	1,796.4	2,433.1	1,825.5

Attributable to:
Vonovia’s shareholders		2,606.7	1,641.8	2,372.0	1,706.5
Vonovia’s hybrid capital investors		14.8	–	7.4	–
Non-controlling interests		58.6	154.6	53.7	119.0

Earnings per share (basic and diluted) in €		4.30	2.30	3.90	2.33

* Without impairment losses on real estate holdings recognized as investment properties.