15 Personnel Expenses

The increase in personnel expenses is due to the reassessment of the probability of claims being asserted in connection with legal disputes with a social insurance provider, with a corresponding provision being set up to reflect this (see [E38] Provisions). This increased personnel expenses by € 89.7 million in the reporting year for back-payments of contributions to social insurance providers, and by a further € 50.3 million for payments to employees. € 68.0 million of this € 140.0 million has already been paid.

The personnel expenses include expenses for severance payments in the amount of € 9.7 million (2023: € 17.2 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 6.4 million (2023: € 13.5 million) and expenses for the long-term incentive plan (LTIP) at € 10.2 million (2023: € 4.5 million) (see [E38] Provisions).

In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 54.3 million (2023: € 52.1 million).

As of December 31, 2024, Vonovia had a workforce of 12,056 employees (December 31, 2023: 11,946). 3,485 employees were female as of December 31, 2024 (December 31, 2023: 3,464), and 8,571 were male (December 31, 2023: 8,482). The average figure for the year was 12,063 employees (2023: 11,946). Vonovia also employed 664 apprentices as of December 31, 2024 (December 31, 2023: 632). Due to subsequent adjustments in headcount under HGB, the number of employees as of December 31, 2023, differs from the total disclosed in the previous year for Germany and Austria.