Consolidated Income Statement

in € million	Notes	Jan. 1–Dec. 31, 2023	Jan. 1–Dec. 31, 2024

Revenue from property letting		4,706.9	4,880.5
Other revenue from property management		167.6	206.8
Revenue from property management	B9	4,874.5	5,087.3

Income from disposal of properties		867.7	1,141.4
Carrying amount of properties sold		-808.0	-1,063.8
Revaluation of assets held for sale		18.4	42.8
Profit from the disposal of properties	B10	78.1	120.4

Revenue from disposal of real estate inventories		354.0	851.8
Cost of sold real estate inventories		-304.6	-813.8
Profit from disposal of real estate inventories	B11	49.4	38.0

Net income from fair value adjustments of investment properties	B12	-10,651.2	-1,559.0
Capitalized internal expenses	B13	470.4	538.0
Cost of materials	B14	-2,100.5	-2,321.8
Personnel expenses	B15	-766.3	-899.6
Depreciation and amortization		-410.8	-121.0
Other operating income	B16	242.9	250.9
Impairment losses on financial assets		-27.6	-408.1
Net income from the derecognition of financial assets measured at amortized cost		-1.7	4.3
Other operating expenses	B17	-434.0	-387.9
Net income from investments accounted for using the equity method	D29	-75.7	-53.8
Interest income	B18	227.8	87.9
Interest expenses	B19	-810.2	-908.6
Other financial result	B20	149.7	-70.4
Earnings before tax		-9,185.2	-603.4
Income taxes	B21	2,577.1	-385.6
Profit for the period from continuing operations		-6,608.1	-989.0
Profit for the period from discontinued operations		-148.1	26.7
Profit for the period		-6,756.2	-962.3

Attributable to:
Vonovia’s shareholders		-6,285.1	-896.0
thereof from continuing operations		-6,157.5	-919.4
thereof from discontinued operations		-127.6	23.4
Non-controlling interests		-471.1	-66.3

Earnings per share from continuing operations (diluted) in €		-7.64	-1.12
Earnings per share from continuing operations (basic) in €		-7.64	-1.12

Earnings per share total (diluted) in €	C23	-7.80	-1.09
Earnings per share total (basic) in €	C23	-7.80	-1.09