VIB Vermögen AG: Positive business development continued in the 2025 financial year

VIB Vermögen AG: Positive business development continued in the 2025 financial year

• All targets were achieved
• Funds from Operations (FFO) increased to EUR 80.5 million
• Gross rental income rose significantly to EUR 103.8 million
• Institutional Business revenues increased significantly to EUR 41.3 million
• Assets under Management (AuM) reached a record high of EUR 10.1 billion
• Guidance for 2026: Funds from Operations expected to be between EUR 60-70 million

Neuburg/Danube, 29 April 2026. VIB Vermögen AG (“VIB”), a company specializing in the development, acquisition, and management of commercial real estate, continued its transformation process and successfully concluded the 2025 financial year. In addition to further strengthening its office asset class within the Commercial Portfolio segment, the company also advanced the development of its Institutional Business (IBU) division. With the acquisition of the IBU business of Branicks Group AG in 2025, the VIB Group established itself as one of the largest players in the German commercial real estate market. As of December 31, 2025, VIB managed a real estate portfolio valued at over EUR 10 billion.

By focusing on the real estate business with its own properties on the one hand, and real estate management for institutional investors on the other, VIB not only demonstrates its full competence in the field of real estate management, but also sees itself as significantly more resilient in the current challenging economic and geopolitical environment.

Speaker of the Board, Dirk Oehme commented: “Last year, we took another important step in our corporate transformation. With the acquisition of the IBU business from Branicks Group AG, we were able to expand our business in this segment significantly and at once, creating a second pillar for VIB alongside our traditional real estate management of our own portfolio. This process would not have been possible at this pace and with this level of quality without the close connection to our parent company. As a result, we believe we are very well positioned for the future in these challenging economic and geopolitical times.”

Key figures for the 2025 financial year

The VIB Group generated an FFO result (before taxes and minority interests) of EUR 80.5 million in the 2025 financial year, which was within the range of the communicated guidance of EUR 78 to 82 million.

Gross rental income rose significantly by 17% to EUR 103.8 million, remaining within the guidance range of EUR 101 to 105 million communicated at the beginning of the year. The year-on-year increase is primarily attributable to property acquisitions in the office asset class in the years 2024 and 2025. These acquisitions were offset by property sales, which led to a reduction in gross rental income.

The expansion in the Institutional Business segment was further accelerated by the acquisition of the IBU division of Branicks Group AG in the fiscal year 2025. This significantly increased property management fees from EUR 7.2 million to EUR 41.3 million.

The vacancy rate was also in line with expectations, reaching 6.3% as of December 31, 2025. Despite the slight increase compared to the previous year, this figure remains at a good level compared to the industry average and continues to reflect the high quality of the VIB Group’s own real estate portfolio.

To finance upcoming investments and project developments, as well as upcoming maturities in 2026, the Management Board and Supervisory Board of VIB plan to propose a minimum dividend of 0.04 euros per share to the Annual General Meeting and to retain the majority of the net profit.

Diversified portfolio structure: Assets under management rise to EUR 10.1 billion

With a managed real estate portfolio of 247 properties, the VIB Group reached a record high on December 31, 2025. The total usable area was 3.5 million sqm and the annualized net rental income was EUR 519 million.

The acquisitions made last year in the office asset class are also reflected in the portfolio structure of the Commercial Portfolio (100 properties, market value EUR 1.8 billion, net rental income EUR 102.3 million, lettable area 912k sqm). Based on net rental income, properties in the logistics & light industrial asset class accounted for 35.2% and office properties for 57.7%. The remainder is distributed between retail properties (5.6%) and other properties (1.5%).

Through the acquisition of the Institutional Business of Branicks Group AG, the number of properties increased to 147 as of December 31, 2025. The leasable area was 2.6 million sqm, and the net rental income amounted to EUR 417 million. Office properties accounted for 80.7% of the net rental income, followed by logistics & light industrial properties at 15.2%. Retail properties made up 3.0%, and other properties accounted for 1.1%.

In addition to acquisitions, VIB took advantage of the continued high market demand and also sold properties. As in the previous year, an attractive sales profit of EUR 48.6 million was achieved in 2025.

Guidance 2026 – Continued optimization within Commercial Portfolio and further growth in the Institutional Business

From VIB’s perspective, it cannot be ruled out that the challenging economic environment and geopolitical tensions will persist in the coming months. While we currently do not foresee any significant impact on our operations, negative effects on VIB cannot be excluded, particularly in the transaction-dependent Institutional Business.

Based on property sales completed in 2025, VIB expects gross rental income of EUR 85-95 million in the Commercial Portfolio segment for the current fiscal year 2026. Due to the growing importance of the Institutional Business segment, VIB is forecasting income from property management fees for the first time in 2026. VIB anticipates a recovery in this segment for the current fiscal year, with management fees expected to rise to EUR 53-63 million. However, due to the aforementioned economic and geopolitical challenges and the associated uncertainties in the transaction market, a precise forecast for property management income from the Institutional Business segment (IBU) is currently very limited.

Under the aforementioned planning assumptions, VIB expects Funds from Operations (FFO) to range from EUR 60-70 million. The anticipated decline in 2026 is due not only to the effect of lower gross rental income but also to the loss of interest income from the loan to Branicks Group AG, which was fully repaid in 2025.

The 2025 annual report and a current company presentation are available for download at https://vib-ag.de/.

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in the development, acquisition and management of modern and sustainably profitable commercial properties, which has been operating successfully on the market for more than 30 years. The focus is on properties in the logistics & light industrial and office asset classes. Since 2005, VIB shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges.

In addition to direct acquisitions, VIB’s broad-based business model also covers the entire spectrum of in-house developments and redensification projects as part of a 360-degree approach: On the one hand, VIB Vermögen AG acquires already let properties, and on the other hand, it develops new properties from scratch in order to add them to its own portfolio on a permanent basis and generate rental income from them. At the same time, sales are part of the overall strategy. In addition, VIB offers comprehensive services and solutions in the field of property management for institutional investors and holds stakes in companies with real estate assets.
 

Contact VIB Vermögen AG: 

Investor Relations:
Michael Blankenhorn
VIB Vermögen AG
Tilly-Park 1
86633 Neuburg/Donau, Germany
Tel.: +49 (0)8431 9077-949
ir@vib-ag.de