INREV adjustments
All amounts in € thousands, unless otherwise stated
Note | Total 2022 | Per share 2022 | Total 2021 | Per share 2021 | |
NAV as per the financial statements | 1,198,693 | 2,964.33 | 1,238,539 | 3,172.38 | |
Reclassification of certain IFRS liabilities as components of equity | |||||
1 | Effect of reclassifying shareholder loans and hybrid capital instruments (including convertible bonds) that represent shareholders long term interests in a vehicle | - | - | - | - |
2 | Effect of dividends recorded as a liability which have not been distributed | - | - | - | - |
NAV after reclassification of equity-like interests and dividends not yet distributed | 1,198,693 | 2,964.33 | 1,238,539 | 3,172.38 | |
Fair value of assets and liabilities | |||||
3 | Revaluation to fair value of investment properties | - | - | - | - |
4 | Revaluation to fair value of self-constructed or developed investment property | - | - | - | - |
5 | Revaluation to fair value of investment property held for sale | - | - | - | - |
6 | Revaluation to fair value of property that is leased to tenants under a finance lease | - | - | - | - |
7 | Revaluation to fair value of real estate held as inventory | - | - | - | - |
8 | Revaluation to fair value of other investments in real assets | - | - | - | - |
9 | Revaluation to fair value of indirect investments not consolidated | - | - | - | - |
10 | Revaluation to fair value of financial assets and financial liabilities | - | - | - | - |
11 | Revaluation to fair value of construction contracts for third parties | - | - | - | - |
12 | Set-up costs | - | - | - | - |
13 | Acquisition expenses | 1,816 | 4.5 | - | - |
14 | Contractual fees | - | - | - | - |
Effects of the expected manner of settlement of sales/vehicle unwinding | |||||
15 | Revaluation to fair value of savings of purchaser’s costs such as transfer taxes | - | - | - | - |
16 | Revaluation to fair value of deferred taxes and tax effect of INREV NAV adjustments | - | - | - | - |
17 | Effect of subsidiaries having a negative equity (non-recourse) | - | - | - | - |
Other adjustments | |||||
18 | Goodwill | - | - | - | - |
19 | Non-controlling interest effects of INREV adjustments | - | - | - | - |
INREV NAV | 1,200,509 | 2,968.82 | 1,238,539 | 3,172.38 | |
Number of shares issued | 404,373 | 400,324 | |||
Number of shares issued taking dilution effect into account | 404,373 | 400,324 | |||
Weighted average INREV NAV | 1,265,928 | 1,191,560 | |||
Weigthed average INREV GAV | 1,288,999 | 1,211,155 | |||
Total Expense Ratio (NAV) | 0.52% | 0.54% | |||
Total Expense Ratio (GAV) | 0.51% | 0.53% | |||
Real Estate Expense Ratio (GAV) | 1.32% | 1.23% |