Consolidated Income Statement

for the period from January 1 until December 31

in € million	Notes	2022 (adjusted)	2023

Revenue from property letting		4,747.4	4,706.9
Other revenue from property management		147.1	167.6
Revenue from property management	B10	4,894.5	4,874.5

Income from disposal of properties		3,242.4	867.7
Carrying amount of properties sold		-3,172.0	-808.0
Revaluation of assets held for sale		68.0	18.4
Profit from the disposal of properties	B11	138.4	78.1

Revenue from disposal of real estate inventories		588.4	354.0
Cost of sold real estate inventories		-460.9	-304.6
Profit from disposal of real estate inventories	B12	127.5	49.4

Net income from fair value adjustments of investment properties	B13	-1,177.6	-10,651.2
Capitalized internal expenses	B14	673.1	470.4
Cost of materials	B15	-2,445.8	-2,100.5
Personnel expenses	B16	-713.7	-766.3
Depreciation and amortization	D26	-1,180.2	-410.8
Other operating income	B17	190.1	242.9
Impairment losses on financial assets		-49.8	-27.6
Net income from the derecognition of financial assets measured at amortized cost		-2.9	-1.7
Other operating expenses	B18	-380.5	-434.0
Net income from investments accounted for using the equity method		-436.6	-75.7
Interest income	B19	115.5	227.8
Interest expenses	B20	-366.9	-810.2
Other financial result	B21	10.3	149.7
Earnings before tax		-604.6	-9,185.2
Income taxes	B22	29.8	2,577.1
Profit for the period from continuing operations		-574.8	-6,608.1
Profit for the period from discontinued operations		-94.6	-148.1
Profit for the period		-669.4	-6,756.2

Attributable to:
Vonovia’s shareholders		-643.8	-6,285.1
Non-controlling interests		-25.6	-471.1

Earnings per share from continuing operations (diluted) in €		-0.72	-7.64
Earnings per share from continuing operations (basic) in €		-0.72	-7.64

Earnings per share total (diluted) in €	C24	-0.82	-7.80
Earnings per share total (basic) in €	C24	-0.82	-7.80