Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows
in € million | Notes | Jan. 1 - Jun. 30, 2025 | Jan. 1 - Jun. 30, 2026 | ||||
Profit for the period | 811.2 | 1,065.3 | |||||
Net income from fair value adjustments of investment properties | -520.3 | -848.1 | |||||
Revaluation of assets held for sale | -21.7 | -37.9 | |||||
Depreciation and amortization | 402.0 | 87.0 | |||||
Interest expenses/income and other financial result | 565.7 | 507.1 | |||||
Income taxes | -41.5 | 599.5 | |||||
Profit on the disposal of investment properties | 19.8 | -33.4 | |||||
Results from disposals of other non-current assets | -3.7 | -1.7 | |||||
Other expenses/income not affecting cash | 7.0 | 26.1 | |||||
Change in working capital | 417.3 | -122.2 | |||||
Income tax paid | -45.7 | -123.7 | |||||
Cash flow from operating activities | 1,590.1 | 1,118.0 | |||||
Proceeds from disposals of investment properties and assets held for sale | 1,307.8 | 397.7 | |||||
Proceeds from disposals of other assets | 376.2 | 50.1 | |||||
Payments for investments in investment properties | -1,479.3 | -633.4 | |||||
Payments for investments in other assets | -152.0 | -165.0 | |||||
Acquisition of shares in consolidated companies, in due consideration of liquid funds | -0.4 | 6.2 | |||||
Interest received | 28.5 | 64.8 | |||||
Cash flow from investing activities | 80.8 | -279.6 | |||||
Cash paid to shareholders of Vonovia SE | -647.2 | -1,060.5 | |||||
Cash paid to non-controlling interests | -175.1 | -256.0 | |||||
Proceeds from issuing financial liabilities | 2,521.6 | 3,274.3 | |||||
Cash repayments of financial liabilities | -2,916.2 | -3,644.3 | |||||
Cash repayments of lease liabilities | -24.0 | -24.2 | |||||
Payments for transaction costs in connection with capital measures | -12.7 | -21.0 | |||||
Payments from changes in ownership interests in subsidiaries that do not result in loss of control | – | -2.1 | |||||
Proceeds from changes in ownership interests in subsidiaries that do not result in loss of control | 38.9 | – | |||||
Interest paid* | -581.9 | -504.4 | |||||
Cash flow from financing activities | -1,796.6 | -2,238.2 | |||||
Influence of changes in foreign exchange rates on cash and cash equivalents | 2.6 | -2.9 | |||||
Cash and cash equivalents total | |||||||
Net changes in cash and cash equivalents | -123.1 | -1,402.7 | |||||
Cash and cash equivalents at the beginning of the period | 1,808.4 | 3,256.9 | |||||
Cash and cash equivalents at the end of the period | 1,685.3 | 1,854.2 | |||||
Cash and cash equivalents from discontinued operations | |||||||
Net changes in cash and cash equivalents** | -13.9 | – | |||||
Cash and cash equivalents at the beginning of the period | 43.5 | – | |||||
Cash and cash equivalents at the end of the period | 29.6 | – | |||||
Cash and cash equivalents from disposal groups | |||||||
Net changes in cash and cash equivalents | -8.2 | – | |||||
Cash and cash equivalents at the beginning of the period | 8.2 | – | |||||
Cash and cash equivalents at the end of the period | – | – | |||||
Cash and cash equivalents from continuing operations (without disposal group) | |||||||
Net changes in cash and cash equivalents | -101.0 | -1,402.7 | |||||
Cash and cash equivalents at the beginning of the period | 1,756.7 | 3,256.9 | |||||
Cash and cash equivalents at the end of the period*** | 1,655.7 | 1,854.2 | |||||
- *Payments for other financing costs of € -57.9 million, which were reported separately in the prior year, are included in the line "Interest paid”.
- **Changes in cash in connection with discontinued operations are included in the cash flow from operating activities in the amount of € - million (Jun. 30, 2025: € 21.7 million), in the cash flow from investing activities in the amount of € - million (Jun. 30, 2025: € -16.0 million) and in the cash flow from financing activities in the amount of € - million (Jun. 30, 2025: € -19.6 million).
- ***Includes total restricted cash of € 73.5 million (Jun. 30, 2025: € 55.9 million).