57 Other Financial Obligations
Other financial obligations are as follows:
Other Financial Obligations
in € million | Dec. 31, 2023 | Dec. 31, 2024 | |||
Other financial obligations | |||||
Investment obligations | 1,239.5 | 1,209.8 | |||
Obligations resulting from acquisition | – | 1,052.0 | |||
Commitments under purchase orders for modernization and new construction | 819.6 | 486.6 | |||
IT service contracts | 46.9 | 100.4 | |||
Cable TV service contracts | 20.3 | 2.9 | |||
Surcharges under the German Condominium Act | 2.7 | 2.0 | |||
Other | 11.5 | 28.6 | |||
2,140.5 | 2,882.3 | ||||
In the 2024 fiscal year, Deutsche Wohnen concluded purchase agreements to acquire land to build on from the QUARTERBACK Immobilien Group. Within the same context, selective purchase agreements were also concluded to acquire property management units from QUARTERBACK Immobilien AG. The total volume of the purchase agreements concluded in 2024 comes to around € 1.3 billion. The transactions are scheduled to be closed in the first half of 2025. Further transactions in order to acquire land to build on from the QUARTERBACK property companies are planned for the first half 2025. The total volume of the other planned purchase agreements comes to around € 0.2 billion. Payment obligations due for 2024 in the amount of € 0.2 million have already been fulfilled. The remaining obligations will not fall due until 2025.
The obligations under cable TV service contracts are set against future income from the marketing of the cable TV service.
Bochum, March 1, 2025
Rolf Buch
(CEO)
Arnd Fittkau
(CRO)
Philip Grosse
(CFO)
Daniel Riedl
(CDO)
Ruth Werhahn
(CHRO)