Consolidated Income Statement

in € million	Jan. 1–Mar. 31, 2025	Jan. 1–Mar. 31, 2026

Revenue from property letting	1,211.9	1,218.8
Other revenue from property management	37.6	45.4
Revenue from property management	1,249.5	1,264.2

Income from disposal of properties	844.9	155.9
Carrying amount of properties sold	-884.5	-140.0
Revaluation of assets held for sale	24.9	31.4
Profit from the disposal of properties	-14.7	47.3

Revenue from disposal of real estate inventories	113.4	39.2
Cost of sold real estate inventories	-52.3	-19.8
Profit from disposal of real estate inventories	61.1	19.4

Net income from fair value adjustments of investment properties	–	–
Capitalized internal expenses	158.7	170.4
Cost of materials	-562.5	-525.7
Personnel expenses	-213.8	-234.0
Depreciation and amortization	-34.5	-35.8
Other operating income	51.7	54.0
Impairment losses on financial assets	-7.7	-8.0
Net income from the derecognition of financial assets measured at amortized cost	-9.1	0.3
Other operating expenses	-89.3	-89.2
Net income from investments accounted for using the equity method	-1.3	2.0
Interest income	18.3	16.1
Interest expenses	-199.2	-235.9
Other financial result	-68.4	-57.1
Earnings before tax	338.8	388.0
Income taxes	165.6	-137.7
Profit for the period from continuing operations	504.4	250.3
Profit for the period from discontinued operations	11.0	–
Profit for the period	515.4	250.3

Attributable to:
Vonovia’s shareholders	491.6	210.5
thereof from continuing operations	482.0	210.5
thereof from discontinued operations	9.6	–
Non-controlling interests	23.8	39.8

Earnings per share from continuing operations (diluted) in €	0.59	0.25
Earnings per share from continuing operations (basic) in €	0.59	0.25

Earnings per share total (diluted) in €	0.60	0.25
Earnings per share total (basic) in €	0.60	0.25