8 Profit on Disposal of Real Estate Inventories

Revenue from the disposal of real estate inventories amounting to € 222.5 million (H1 2022: € 380.5 million) comprises € 120.5 million (H1 2022: € 234.8 million) in period-related revenue together with € 102.0 million (H1 2022: € 145.7 million) in time-related revenue from the disposal of real estate inventories. As of the reporting date, contract assets of € 185.7 million (December 31, 2022: € 169.2 million) are recognized within trade receivables in connection with the period-related revenue recognition. As of the reporting date, this amount includes advance payments received of € 145.5 million (December 31, 2022: € 172.6 million). The drop in revenue as against the previous year is due primarily to the transfer of benefits and encumbrances for a project in Berlin in connection with the sale to an individual investor (global exit).