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10. Equity

The participation rights issued can be specified as follows:

   

Reserve

 
 

Fund equity

General paid in surplus

Property

Derivatives

Legal

Other

Total equity

As at 1 January 2022

35

1,659

3,751

(4)

2

2,110

7,553

        

Result for the year

-

-

(168)

-

-

156

(12)

Other comprehensive income

-

-

-

1

(1)

2

2

Total comprehensive income

-

-

(168)

1

(1)

158

(10)

        

Realised from property sales

-

-

(14)

-

-

14

-

Equity redemption

-

(50)

-

-

-

-

(50)

Distribution paid

-

(195)

-

-

-

-

(195)

        

As at 31 December 2022

35

1,414

3,569

(3)

1

2,282

7,298

        
        

Result for the year

-

-

(827)

-

-

171

(656)

Other comprehensive income

-

-

-

1

(2)

-

(1)

Total comprehensive income

-

-

(827)

1

(2)

171

(657)

        

Realised from property sales

-

-

(16)

-

-

16

-

Capital paid in

-

-

-

-

-

-

-

Reclasses

-

1

-

(1)

5

(5)

-

Equity issued

1

116

-

-

-

-

117

Equity redemption

(1)

(166)

-

-

-

-

(167)

Distribution paid

-

(199)

-

-

-

-

(199)

        

As at 31 December 2023

35

1,166

2,726

(3)

4

2,464

6,392

In 2023, Vesteda paid €167 million in redemptions, consisting of the payout of the Redemption Available Cash of €50 million and three secondary transactions for in total €117 million. Two transactions were with existing participantswho have expanded their holding, and one with a new entrant.

Proposals to investors

Proposed appropriation of result for 2023

The Management Board proposes that the loss for the year of €656 million be taken to equity. This proposal has been incorporated in the annual report.

Proposed distribution to participants

The Management Board proposes a distribution to participants of €198.4 million for the year 2023, of which €115.8 million was paid in the financial year 2023 and €38.6 million was paid in January 2024. The financial statements will be presented for adoption at the General Meeting of Participants on 3 April 2024. Following the adoption, the remaining €44.0 million will be paid as a final distribution for 2023.