VIB Vermögen AG makes positive start to the 2011 fiscal year
VIB Vermögen AG / Key word(s): Quarter Results/Miscellaneous11.05.2011 / 07:56- Revenues of EUR 12.9 million – Earnings before tax (EBT) of EUR 4.7 million, and consolidated net incomeof EUR 4.0 million- Managing Board proposes EUR 0.30 dividend to AGM – Distribution approximately 45% tax-free Neuburg/Danube, May 11, 2011 – VIB Vermögen AG, a company specialising incommercial real estate portfolio management, generated revenues ofEUR 12.9 million at Group level in the first three months of 2011 on anIFRS accounting basis. When taking into account EUR 0.5 million of otheroperating income, the VIB Group generated total operating income of aroundEUR 13.4 million. After deducting operating costs, earnings before interestand tax (EBIT) stood at EUR 9.4 million. This generated an approximately70% EBIT margin, which is above the sector average and reflects the highprofitability of this real estate company based at Neuburg/Danube, Germany.Interest expenses totalled EUR 4.7 million in the first three months of2011, thereby allowing the VIB Group to generate pre-tax earnings of EUR4.7 million.After deducting taxes on income, the VIB Group’s consolidated earningsamounted to around EUR 4.0 million for the first three months of 2011.Ludwig Schlosser, CEO of VIB Vermögen AG, was correspondingly satisfiedwith the promising trend in the first quarter of 2011: ‘A furtherimprovement in the macroeconomic environment allowed us to successfullycontinue the last few years’ operating success story. We have achieved afurther profitability enhancement compared with the 2010 record year, whenwe generated a 67.8% EBIT margin. We would very much like our shareholdersto participate in this positive development. For this reason, we willpropose to the AGM to be held on July 7, 2011 that a dividend of EUR 0.30per share be paid. The tax-free portion of the dividend will amount toaround 45%.’In the assessment of Managing Board member Peter Schropp, who isresponsible for the real estate area at VIB Vermögen AG, there are groundsfor further optimism with respect to the current business year: ‘We enjoythe best preconditions to achieve a further record year in 2011 with ourhighly profitable portfolio that currently comprises 86 properties, and atotal rentable area of around 661,500 m². We aim to place a greaterstrategic focus on targeted acquisitions in order to secure attractivereturns also on a prospective basis, while at the same time maintaining ourexisting, stability-oriented financing structure. We anticipate totalrevenues of EUR 52 million for 2011. We also aim to boost earnings beforeinterest and tax (EBIT) to around EUR 36 million, and pre-tax earnings toapproximately EUR 18 million.The complete interim announcement for the first quarter of 2011 can bedownloaded from the company’s website at www.vib-ag.de, within the InvestorRelations area.ContactInvestor Relations:VIB Vermögen AGPetra Riechert Tel: + 49 (0)8431 504-952Luitpoldstr. C70 Fax: + 49 (0)8431 504-97386633 Neuburg/Danube E-mail: sitemoced.ga-biv@trehceir.artep AGStefan Kemmerer Tel: +49 (0)611 205855-21Unter den Eichen 7 Fax: +49 (0)611 205855-6665195 Wiesbaden E-mail: eliforPed.sitemoc@reremmek of VIB Vermögen AGVIB Vermögen AG (WKN 245751 / ISIN DE0002457512) is a medium-sized realestate holding company, whose investments focus on commercial properties inSouthern Germany. Formed as a partnership in 1993, VIB Vermögen AG wastransformed to become an Aktiengesellschaft (German public limited company)in 2000. Since then, the company has developed core competences in theacquisition and management of its own properties and participatinginterests in companies with real estate portfolios.The VIB Group pursues a buy-and-hold strategy. It both develops propertiesfor its own portfolio and also acquires existing properties. The VIBGroup’s real estate portfolio includes various logistics properties andindustrial facilities, shopping and specialist retail centers as well ascommercial and service centers. The VIB Group generates sustainable rentalreturns with a total rental area of approx. 661,500 m².End of Corporate News———————————————————————11.05.2011 Dissemination of a Corporate News, transmitted by DGAP – acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP’s Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de———————————————————————Language: English Company: VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg/Donau Deutschland Phone: +49 (0)8431 / 504-952 Fax: +49 (0)8431 / 504-973 E-mail: ed.ga-biv@trehceir.artep Internet: www.vib-ag.de ISIN: DE0002457512 WKN: 245751 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München (m:access), Stuttgart; Open Market in Frankfurt End of News DGAP News-Service ——————————————————————— 123957 11.05.2011