Category: Corporate News

Corporate news

VIB Vermögen grows through two further in-house developments

Neuburg/Danube, October 4, 2017 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, is continuing to expand on the basis of targeted in-house developments. Firstly, work will get under way in the next few weeks to build a production facility on an existing portfolio site at Interpark near Ingolstadt. Secondly, the company has acquired a plot of land in Vaihingen/Enz, Baden-Württemberg, which is suitable for the construction of a logistics/light industry facility.

At Interpark near Ingolstadt, a logistics/light industry facility measuring approximately 13,500 square metres will be built on the reserved plot at Kopernikusstrasse 2. Some 50% of the total useful area has been let on a long-term basis prior to construction, with completion of the production facility scheduled for the end of the third quarter of 2018. The total investment volume for the property amounts to approximately EUR 10 million.

The approximately 26,300 square metres plot newly acquired by VIB in Vaihingen/Enz, Baden-Württemberg, will be developed in the form of a logistics/light industry facility measuring approx. 10,400 square metres. This property has also been let on a long-term basis prior to construction. The total investment volume here is around EUR 8.8 million, with completion and handover planned for the third quarter of 2018.

Tenant of the object in Vaihingen and the subspace of the object in the interpark is a medium-sized production company with an excellent credit rating. The net initial yield of the two in-house developments will be roughly 8%.

“We are pleased to be able to continue our strategy of profitable growth on the basis of in-house developments. The fact that in both cases we have been able to conclude rental agreements prior to the construction phase pays testament to our excellent customer relations. The outstanding working relationship on the Interpark project has given rise to the exciting follow-up project in Vaihingen with the same tenant. We are therefore delighted to have added another strong member to our network of tenants,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Germany
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 973
Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

VIB Vermögen strengthens self-financing capacities through active portfolio management

Neuburg/Danube, September 7, 2017 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, has taken advantage of the extremely high property prices and optimised its portfolio by selling two properties in southern Germany.

One of the properties is a mixed-use commercial site in Neuburg an der Donau with a total useful area of approximately 3,900 square metres, whereas the second property is a retail site in Memmingen with around 9,300 square metres of useful space. Together, both properties were generating about 0.7 per cent of the net rental proceeds of the VIB Vermögen property portfolio. The sale prices exceed the carrying amounts and amount to a total of approx. EUR 10 million.

Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG: “The sale of the two properties at the current time is proof of our excellent access to a variety of market players and underscores our active portfolio management expertise, whether we are buying or selling. We will use the proceeds to strengthen our internal financing ability and generate additional scope for new investments and developments.”

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Germany
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 973
Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

VIB Vermögen remains on a profitable growth track in the first half of 2017
 

– Operating revenue up by 5.5% to EUR 41.2 million

– Above-average increase of 15.4% in adjusted earnings before tax (EBT)

– Guidance confirmed for 2017 financial year as a whole
 

Neuburg/Danube, August 9, 2017 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, was once again able to record significant increases in both revenue and earnings in the first six months of 2017. This was chiefly due to higher rental incomes from new investments, as well as lower interest expenses on existing loans.

The company’s operating revenue rose by 5.5% in the first half of 2017, climbing from EUR 39.1 million to EUR 41.2 million. Adjusted for valuation effects, the earnings before interest and taxes (EBIT) climbed by 6.1% from EUR 30.2 million to EUR 32.1 million. Following adjustment for valuation effects and extraordinary items, earnings before tax (EBT) grew much more strongly by 15.4% from EUR 20.0 million to EUR 23.0 million. The consolidated net income improved by 13.4%, from EUR 19.3 million to a total of EUR 21.8 million. Given the average number of shares in the financial year, this equates to an increase of 13.4% in diluted and undiluted earnings per share, from EUR 0.67 to EUR 0.76.

Holger Pilgenröther, Chief Financial Officer of VIB Vermögen AG: “We can look back on six highly successful months in which we have recorded above-average increases in both revenue and earnings. Key for this, in addition to the strong operating letting result, was especially the positive effect of the further decline in the average interest rate on our loan portfolio, which was 2.82% as of 30 June, 2017.”

This positive course of business is also reflected in the property sector-specific KPIs. FFO (funds from operations), for example, as an indicator of cash inflow from operating activities, improved by 14.4% in the first half of 2017, rising from EUR 17.5 million to EUR 20.0 million. Undiluted NAV (net asset value), i.e. the value of total assets less liabilities, increased by 4.8% compared to the end of 2016 to reach EUR 492.8 million. NAV per share improved accordingly by 4.8%, from EUR 17.05 to EUR 17.87 per share.

The operational highlights of the first six months of the current financial year included the on-budget handover of two in-house developments at Interpark Kösching near Ingolstadt, with both properties generating above-average net initial yields of 8.0% and 8.3%, respectively.

“We are delighted about the results and regard them as an endorsement of our strategic approach of growing increasingly by means of highly profitable in-house developments. We continue to observe strong interest in the market for commercial properties. With this in mind, we have already secured attractive sites at an early stage to enable further projects,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

Taking into account the results for the year so far, VIB Vermögen has confirmed the guidance for the 2017 financial year made in the 2016 Annual Report.

The full half-year report of VIB Vermögen AG for the 2017 financial year can be accessed at vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 973
Email: ed.ga-biv@trehceir.artep
 

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

Corporate news

VIB Vermögen AG lets 9,500 sqm on a long-term basis to a leading Japanese manufacturer of mechanical components

Neuburg/Danube, July 20, 2017 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, has concluded a long-term rental agreement with a new tenant at its property in Frankfurt.

Whereas the property on Frankfurt’s Josef-Eicher-Strasse was previously let to a classic logistics firm, VIB has now managed to attract one of the world’s leading suppliers of mechanical components as the new tenant. From August, the new tenant will have an area of around 9,500 square metres at its disposal to set up its central warehouse facility for Germany. The term of the new rental agreement is 10 years.

Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG: “The speedy reletting to an international company once again pays testament to the flexibility and alternative-use options of our properties, not to mention our outstanding network. As a result, we are able to keep our vacancy rate extremely low, which has a direct positive impact on our results.”

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Danube
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 973
Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

Annual General Meeting of VIB Vermögen AG approves dividend increase to EUR 0.55 per share

Neuburg/Danube, June 30, 2017 – At yesterday’s Annual General Meeting of commercial property specialist VIB Vermögen AG, the Management Board of the company provided the shareholders with a detailed report on the successful course of business in the previous financial year and the company’s future growth strategy. The key items at the Annual General Meeting were the planned in-house developments at the Interpark Kösching, Schwarzenbruck and Gersthofen sites, as well as the healthy financing structure of VIB Vermögen AG.

“We are proud that we could present our shareholders with an extremely successful 2016 and allow them to participate directly in this success with the increased dividend,” explained Martin Pfandzelter, Chief Executive Officer of VIB Vermögen. “By virtue of the stable economic position and the growing property sector in Germany, we are still witnessing strong demand, particularly in the asset class of logistics properties. We want to carry on profiting from this trend in the future by means of in-house developments and targeted acquisitions,” added
Pfandzelter.

Dividend of EUR 0.55 approved
The shareholders approved the proposal submitted by the Management and Supervisory Boards to distribute an increased dividend of EUR 0.55 per share (previous year: EUR 0.51 per share). Based on the share price as of December 31, 2016, this corresponds to a dividend yield of 2.8 per cent. Therefore, the company will be distributing some EUR 15.2 million amongst the 27,579,779 shares with dividend rights. As a result, VIB has continuously paid a dividend ever since it was founded and has now increased this dividend for the eighth time in a row.

A total of 52.59 per cent of the voting-entitled share capital was represented at this year’s Annual General Meeting of VIB Vermögen AG. The members of the Managing Board and the Supervisory Board were both approved by a large majority of the AGM. Agreement was granted with a large majority of shareholders to all other items on the agenda of the Annual General Meeting, including the choice of auditor.

Holger Pilgenröther, CFO of VIB Vermögen: “We are confident that our operating results will continue to show a positive development. In addition, we will use the continued low interest rates on the financing side and further reduce the average interest rate on our loans when negotiating fixed-interest agreements that are due for renewal.”

The results, as well as all other relevant documents connected with the Annual General Meeting of VIB Vermögen AG, can be accessed on the company’s website at https://vib-ag.de/investor-relations/hauptversammlung.html.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Fax: +49 (0)8431 9077 973
Tel. +49 (0)8431 9077 952
Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

Corporate news

VIB Vermögen: successful handover of another in-house development at Interpark Kösching near Ingolstadt

Neuburg/Danube, June 28, 2017 – VIB Vermögen AG has now completed and handed over the second in-house development this year at Interpark Kösching near Ingolstadt on schedule. Back in March, the company – which specialises in the acquisition, development and portfolio management of commercial properties – completed another in-house development within the designated time frame and handed it over to the tenant for use.

The useful area of the property handed over most recently stands at around 7,100 m². With an investment volume of approx. EUR 8.7 million, the property is generating an attractive net initial yield of 8.3 per cent. The property is let to a Scandinavian technology company for a ten-year term and was completed on time and on budget.

With this new in-house development VIB Vermögen now has six portfolio properties at the site, and these are let to different tenants from a variety of sectors. Acting with foresight, VIB had already acquired the corresponding plots of land at any early stage. Interpark Kösching is one of the most important industrial parks in southern Germany and boasts an outstanding infrastructure. It is situated in direct proximity to Ingolstadt and within the catchment area of the Munich and Nuremberg metropolitan regions.

“We are delighted to be able to further strengthen our presence at such an attractive site, thereby pushing ahead with our strategy of using highly profitable in-house developments to grow in the current market environment,” remarks Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. “In addition to the properties that have already been handed over, we also possess two more attractive reserved plots that we wish to develop in the near future,” adds Martin Pfandzelter.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Tel. +49 (0)8431 9077 952
Fax: +49 (0)8431 9077 1952
Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

VIB Vermögen makes a successful start to the 2017 fiscal year

– Operating revenue up by 4.6% to EUR 20.4 million

– 12.9% increase in adjusted earnings before tax (EBT)

– Handover of a logistics property developed in-house at Interpark Kösching

– Guidance confirmed for the 2017 fiscal year as a whole

Neuburg/Danube, May 10, 2017 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, has continued to grow in the first quarter of 2017. The company, which today released its figures for the first three months of 2017, once again posted increases in revenue and earnings. Key factors in this regard were the increase in rental incomes from new investments and the reduction in interest expenses for real estate loans.

In the first three months of the year, the company’s operating revenue climbed by 4.6% from EUR 19.5 million to EUR 20.4 million. When adjusted for valuation effects, earnings before interest and taxes (EBIT) rose by 5.3% from EUR 15.3 million to EUR 16.1 million. A considerably stronger increase was witnessed in earnings before tax (EBT) adjusted for valuation effects and extraordinary items, which rose by 12.9% from EUR 10.1 million to EUR 11.4 million. Playing a decisive role in this development was the 9.6% drop in interest expenses, which is, in turn, attributable to a decrease in the average interest rate for loan liabilities. Consolidated net income improved by 25.7% from EUR 8.5 million to EUR 10.7 million.

Based on the average number of shares in the fiscal year, this equates to an increase in diluted and undiluted earnings per share of 27.6% to EUR 0.37, compared with EUR 0.29 in the prior-year period.

FFO (funds from operations), which is an indicator of cash inflow from operating activities, improved by 11.5% to EUR 9.8 million in the first three months of 2017, compared with EUR 8.8 million in the previous year. The undiluted NAV (net asset value), i.e. the value of all asset items less liabilities, climbed by 2.4% compared with the end of the 2016 fiscal year to reach EUR 481.2 million. As a result, NAV per share rose by 2.3% from EUR 17.05 to EUR 17.45 per share.

“Alongside the positive course of business, we are also particularly pleased about the on-schedule handover of a further logistics property developed in-house at Interpark Kösching. A second project at the site will be completed in summer,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. “We are also working to optimise our existing portfolio and we examine new acquisition and development opportunities on an on-going basis. We still see high market demand for logistics and light industry properties and wish to continue benefiting from this in the future,” adds Pfandzelter.

The property, which was handed over on March 31, is let to a prestigious company in the logistics sector and boasts a total useful area of 21,000 sqm. The investment volume stood at approximately EUR 15.4 million. The net initial yield stands at about 8%. Following completion of the logistics property, the portfolio of VIB Vermögen now comprises 105 properties.

Taking into account the results in the first three months of 2017, VIB Vermögen confirms the guidance for the 2017 fiscal year as a whole issued in the 2016 Annual Report.

The full VIB Vermögen AG interim report for the first three months of the 2017 fiscal year can be accessed at vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 973
86633 Neuburg/Danube Email: ed.ga-biv@trehceir.artep

About VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

VIB Vermögen confirms successful growth in 2016

– Operating revenue rose by 5.6% to EUR 79.9 million

– Adjusted earnings before tax (EBT) with a plus of 11.8%

– New growth impulses through active portfolio management and proprietary developments

– Guidance 2017: EBT between EUR 43.0 and 45.5 million before valuation effects

Neuburg/Danube, April 26, 2017 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of industrial properties, has today published its audited results for the 2016 fiscal year and confirmed its preliminary figures of March 22, 2017. Thus, group revenue rose by 5.9% to EUR 79.5 million, after EUR 75.1 million in the previous year. The company’s operating income increased by 5.6% to EUR 79.9 million. Main driver of these positive results was the higher rental income from the new investments.

Strong growth in earnings
Driven by revenue growth, the earnings before interest and taxes (EBIT), adjusted for valuation effects and extraordinary items, increased by 7.1% to EUR 61.1 million. The earnings before tax (EBT), adjusted for valuation effects and extraordinary items, rose disproportionately by 11.8% to EUR 40.8 million. As a result, the consolidated net income also improved by 12.2% to EUR 49.4 million. Based on the average number of shares in the fiscal year, this corresponds to an increase in diluted and undiluted earnings per share of 17.1% to EUR 1.71.

The positive development of the company was also reflected in the company’s financial situation in the 2016 fiscal year. Thus, equity rose by EUR 36.8 million to EUR 443.5 million (31 December 2015: EUR 406.8 million) at the end of the 2016 fiscal year. This was primarily due to the profit achieved in the period under review. As at the balance sheet date the equity ratio remained almost unchanged at 39.7% (31 December 2015: 40.3%) and documented the company’s solid financing structure.

Based on the positive operating performance in 2016, the Management Board and Supervisory Board of VIB Vermögen AG will propose a dividend of EUR 0.55 per share (previous year: EUR 0.51 per share) to the Annual General Meeting on 29 June 2017.

Portfolio numbers significantly improved
The net asset value (NAV) rose by 13.9% to EUR 470.1 million as at the balance sheet date (31 December 2015: EUR 412.8 million). Based on the number of outstanding shares, the value rose by 8.7% to EUR 17.05 per share (31 December 2015: EUR 15.69 per share). The funds from operations (FFO), as an indicator of the company’s operating cash inflows, improved significantly in the year under review to EUR 35.8 million (31 December 2015: EUR 32.6 million). This represents a growth of 10.2% to EUR 1.30 per share (31 December 2015: EUR 1.18 per share). The vacancy rate was again reduced by active portfolio management and stood at 1.3% (31 December 2015: 1.8%) at the end of the year.

Active portfolio optimization in the Grundig-Businesspark
As part of its portfolio optimization, VIB Vermögen is currently expanding its commercial property in the Grundig-Businesspark in Nuremberg. The mixed property in Nuremberg, acquired in 2012, which covers both office and logistics areas, currently has a lettable area of approximately 85,000 sqm. The extension, which will be completed at the beginning of 2018, will result in an additional lettable area of approximately 7,500 sqm. The new facility is already leased to 2 companies with a contract term of 10 years each.

“The strength of our business model and the sustained growth of our company resulting from it are also reflected in the recent examples of our portfolio developments. We are again demonstrating our competence in the area of project developments by expanding our property at the Grundig-Businesspark near Nuremberg and by the completion of two project developments in the Interpark,” said Martin Pfandzelter, CEO of VIB Vermögen AG.

Further growth expected in 2017
Overall, the company anticipates further revenue growth, coupled with sustained profitability, for the current fiscal year. Operating income is expected to increase to between EUR 81.5 million and 85.5 million. Furthermore, the company forecasts that EBIT will rise to between EUR 61.5 million and 64.5 million, and EBT to between EUR 43.0 million and 45.5 million (excluding valuation effects and extraordinary items in each case). Funds from operations (FFO) is expected to come in at between EUR 37.0 million and 39.5 million, which is higher than in the previous year.

The annual report 2016 as well as a current company presentation on the business results 2016 are available at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Tilly-Park 1
86633 Neuburg/Donau
Tel. + 49 (0)8431 9077 952
Fax: +49 (0)8431 9077 973
Email: ed.ga-biv@trehceir.artep

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

2016 preliminary results
 

VIB once again grows successfully in the 2016 fiscal year

– Operating revenue rises by 5.6%

– Adjusted Earnings before tax (EBT) climb by 11.8%

– 2016 guidance fully met

– Proposed dividend increase of 7.8% to EUR 0.55 per share

– Further growth in revenue and earnings planned for 2017
 

Neuburg/Danube, March 22, 2017 – VIB Vermögen AG, a company specialising in the development and portfolio management of commercial properties, recorded strong increases in both revenue and earnings in the 2016 fiscal year. On the basis of the preliminary IFRS figures, operating revenue rose by 5.6% to EUR 79.9 million. In particular, this positive trend was driven by increased rental income from new investments in the last two years. Growth came within the anticipated range for 2016.

In the year under review, changes in value from investment properties came in at EUR 18.0 million (previous year: EUR 16.4 million). Expenses for investment properties fell to EUR 13.3 million due to a decline in maintenance expenses (previous year: EUR 13.6 million). Personnel expenses for the reporting period stood at EUR 3.8 million, compared with EUR 3.3 million in the 2015 fiscal year. Other operating expenses remained steady at EUR 1.6 million.

Strong growth in earnings
Overall, earnings before interest and taxes (EBIT), adjusted for valuation effects, rose sharply by 7.1% to EUR 61.1 million. Despite the investments made in the year under review and the associated increase in total liabilities, interest expenses remained steady at EUR 20.4 million. This was chiefly due to more favourable financing terms.

When adjusted for valuation effects and extraordinary items, earnings before tax (EBT) rose considerably by 11.8% to EUR 40.8 million. As a consequence, consolidated net income also improved by 12.2% to EUR 49.4 million. Given the number of shares, this equates to an increase of 17.1% in diluted and undiluted earnings per share, which now stand at EUR 1.71.

“In the year under review, we once again demonstrated that our finely tuned business model is still able to generate continuous growth and above-average increases in profitability – even in the face of a general yield compression on the property market. We recorded major successes, including the acquisition of high-yield properties, the start of construction work on two project developments at Interpark and the expansion of our pipeline with promising sites,” noted Martin Pfandzelter, Chief Executive Officer of VIB Vermögen. “On the financing side, our long-term strategy bore fruit. We still see potential for further reducing the average interest rate on our borrowings.”

As of the end of the 2016 fiscal year, equity had risen by EUR 36.8 million to EUR 443.5 million (31/12/2015: EUR 406.8 million), primarily as a result of the net retained profit achieved. The equity ratio stands at 39.7% (31/12/2015: 40.3%) and pays testament to the solid financing structure of the company.
Holger Pilgenröther, CFO of VIB Vermögen: “2016 was an excellent year for VIB Vermögen, and we want to reward our shareholders accordingly. We are a stock with a reliable dividend. Therefore, with the consent of the Supervisory Board, we will be proposing a dividend of EUR 0.55 per share (a rise of around eight per cent) to the Annual General Meeting.”

Improved portfolio indicators
The net asset value (NAV) of the VIB portfolio rose by 13.9% to EUR 470.1 million as of the balance sheet date (31/12/2015: EUR 412.8 million). Given the number of outstanding shares, it increased by 8.7% to EUR 17.05 per share (31/12/2015: EUR 15.69 per share). Funds from operations (FFO), as an indicator of the company’s operating cash inflow, improved considerably in the year under review, rising by 10.2% to EUR 1.30 per share, compared with EUR 1.18 per share in the previous year.

2016 saw VIB Vermögen press ahead with its proven strategy of investing in in-house developments and acquisitions within the sectors of logistics/light industry and retail. The company purchased a total of six sites for the purpose of completing in-house development projects: four of these sites are situated at Interpark Kösching near Ingolstadt, one is in Gersthofen near Augsburg and one is in Schwarzenbruck close to Nuremberg. The company also acquired two logistics properties in Wackersdorf and Uffenheim respectively.

Further growth anticipated for 2017
VIB expects to see increased growth from in-house developments in 2017. At Interpark Kösching near Ingolstadt, two project developments for the logistics sector are currently in the construction phase and are scheduled for completion in spring and summer 2017 respectively.
Overall, the company anticipates further revenue growth, coupled with sustained profitability, for the current fiscal year. Operating income is expected to increase to between EUR 81.5 million and 85.5 million. Furthermore, the company forecasts that EBIT will rise to between EUR 61.5 million and 64.5 million, and EBT to between EUR 43.0 million and 45.5 million (excluding valuation effects and extraordinary items in each case). Funds from operations (FFO) is expected to come in at between EUR 37.0 million and 39.5 million, which is higher than in the previous year.

The company will publish its final results for the 2016 fiscal year together with the 2016 Annual Report on April 26, 2017. A company presentation with details of the 2016 interim results can be found at www.vib-ag.de.
 

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. + 49 (0)8431 9077 952
Luitpoldstr. C70 Fax: +49 (0)8431 9077 973
86633 Neuburg/Donau Email: ed.ga-biv@trehceir.artep

Please note our new address from 27 March 2017:
Tilly-Park 1, 86633 Neuburg/Donau

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy: Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.

Corporate News

VIB Vermögen invests in sites with a total area of more than
100,000 m²

Neuburg/Danube, February 3, 2017 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has acquired two sites with a total area of 105,500 m² in highly attractive logistics regions within Bavaria.

In Gersthofen, near Augsburg, the company purchased a site measuring approximately 38,500 m², with a potential useful area of about 24,000 m² under the multifunctional usage concept. The site boasts an excellent infrastructure on account of connections to the A8 motorway and federal highways 2 and 17.

The second site is located in Schwarzenbruck, in close proximity to Nuremberg. On a site measuring approximately 67,000 m², 30,000 m² of rentable logistics space is planned that can be individually divided into sections of between 5,000 and 10,000 m².

Both sites, for which a building lease already exists, have been approved for industrial use and are currently being further marketed. Once tenants have been found, construction can begin shortly afterwards.

Furthermore, VIB is currently examining and securing further sites in other regions, such as Erding in the Greater Munich Area. These projects are at different stages of planning law development.

‘In a study led by bulwiengesa on logistics and property in 2016, the regions of Augsburg and Nuremberg were found to be highly attractive to logistics companies and were assigned a high demand as “hidden champions”. This shows that our most recent property acquisitions are spot on in terms of generating further portfolio growth on the basis of in-house developments. Combined with our successful operations at Interpark Kösching, the newly acquired sites underline our position as experts in logistics properties,’ explains Martin Pfandzelter, CEO of VIB Vermögen AG.

Contact
Investor Relations:

VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg/Donau
Tel: + 49 (0)8431 504-952
Fax: + 49 (0)8431 504-973
E-Mail: ed.ga-biv@trehceir.artep

About VIB Vermögen AG

VIB Vermögen is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB’s business model is based on a “develop-or-buy-and-hold” strategy. On the one hand, the company completely develops new properties with a view to permanently incorporating them into its portfolio and, on the other, acquires properties that are already rented. VIB also holds investments in companies with real estate assets.