Net Assets
Vonovia’s net asset value figures are based on the best practice recommendations of the European Public Real Estate Association (EPRA). At the end of 2023, EPRA NTA came to € 38,140.9 million, down by 16.6% on the value of € 45,744.5 million seen at the end of 2022. EPRA NTA per share developed from € 57.48 at the end of 2022 to € 46.82 at the end of 2023.
EPRA Net Tangible Assets (EPRA NTA)
EPRA Net Tangible Assets (EPRA NTA) | ||||||
in € million | Dec. 31, 2022 | Dec. 31, 2023 | Change in % | |||
Total equity attributable to Vonovia shareholders | 31,331.5 | 25,682.7 | -18.0 | |||
Deferred tax in relation to fair value gains of investment properties* | 16,190.0 | 13,895.3 | -14.2 | |||
Fair value of financial instruments** | -117.5 | -13.4 | -88.6 | |||
Goodwill | -1,529.9 | -1,391.7 | -9.0 | |||
Intangible assets | -129.6 | -32.0 | -75.3 | |||
EPRA NTA | 45,744.5 | 38,140.9 | -16.6 | |||
EPRA NTA per share in €*** | 57.48 | 46.82 | -18.5 | |||
- * Proportion of hold portfolio.
- ** 2022 adjusted for effects from cross currency swaps.
- *** EPRA NTA per share based on the shares carrying dividend rights on the reporting date.
Over a five-year observation period, Vonovia’s property assets showed the following development based on the EPRA NTA and the GAV (gross asset value):
EPRA NTA and GAV development
in € million | EPRA NTA | GAV | ||
2023 | 38,140.9 | 84,545.1 | ||
2022 | 45,744.5 | 95,125.5 | ||
2021 | 48,640.8 | 98,225.3 | ||
2020 | 35,488.6 | 59,207.1 | ||
2019 | 29,762.2 | 53,586.3 | ||