Category: Corporate News

New structure in the Supervisory Board

VIB Vermögen AG: Professor. Dr. Gerhard Schmidt elected Chairman of the Supervisory Board – Ludwig Schlosser remains on the Supervisory Board

• Prof. Dr. Gerhard Schmidt elected Chairman of the Supervisory Board on 13 December 2022
• Ludwig Schlosser remains on the Supervisory Board and Chairman of the Supervisory Board of BBI Bürgerliches Brauhaus Immobilien AG and BHB Brauholding Bayern-Mitte AG

Neuburg/Danube, 15 December 2022 – At the Supervisory Board meeting on 13 December 2022, Professor Dr. Gerhard Schmidt was unanimously elected Chairman of the Supervisory Board. Mr. Ludwig Schlosser will continue to be a member of the Supervisory Board of VIB Vermögen AG. Likewise, he will continue his offices as Chairman of the Supervisory Boards of BBI Bürgerliches Brauhaus Immobilien AG and BHB Brauholding Bayern-Mitte AG.

“I would like to thank Mr. Schlosser for his many years of constructive work as Chairman of the Supervisory Board of VIB Vermögen AG, and I am very pleased that he will continue to be a member of the Supervisory Board with his extensive experience,” said Professor Dr. Gerhard Schmidt, Chairman of the Supervisory Board of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Anja Landes-Schell      
Tilly-Park 1 | 86633 Neuburg a.d. Donau
Tel.: + 49 (0)8431 9077-961 | Fax: + 49 (0)8431 9077-1961
E-Mail: ed.ga-biv@llehcs-sednal.ajna

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News
 

VIB Vermögen AG informs about the following announcement of an insider information (ad hoc) as of today at 14:30 hrs:

Announcement of an insider information due to Art. 17 der Verordnung (EU) Nr. 596/2014
 

VIB Vermögen AG resolves a capital increase against contribution in kind in the amount of EUR 4.87 million by way of using of authorized capital with exclusion of the subscription rights of the shareholders for the acquisition of a logistics real estate portfolio and of real estate management companies in the amount of altogether EUR 99 million from DIC Asset Group

VIB Vermögen AG, Tilly-Park 1, 86633 Neuburg/Donau, 24 November 2022

Management Board and Supervisory Board of VIB Vermögen AG (ISIN: DE000A2YPDD0) resolved today to increase the capital against contribution in kind in the amount of EUR 4,872,761.00 by issuing 4,872,761 new bearer shares by way of using the authorized capital with exclusion of the subscription rights of the shareholders for the acquisition of a total logistics package in the amount of EUR 99 million from DIC Asset Group (DIC Asset AG together with its subsidiaries) consisting of a logistics real estate portfolio in the amount of approximately EUR 56 million and of two real estate management companies in the amount of approximately EUR 43 million carrying out the management of logistics real estate for third parties.

DIC Asset Group companies were entitled to subscribe the new shares in exchange for their respective undertaking to contribute the shareholdings in real estate companies and the property in two real estates as well as the shareholding in the management companies. The acquisition of the logistics portfolio and of the both management companies strengthens sustainably the growth of VIB Vermögen AG to be the leading logistics real estate AG as well as increases the business model of the VIB Vermögen AG to the management of logistics real estate for third parties which provides a high level of liquidity.

The Management Board of VIB Vermögen AG

Contact

VIB Vermögen AG

Investor Relations:

Tilly-Park 1

86633 Neuburg/Donau

Tel.: + 49 (0)8431 9077-961

Fax: + 49 (0)8431 9077-1961

E-Mail: ed.ga-biv@llehcs-sednal.ajna

Important notice

This publication constitutes neither an offer to sell nor a solicitation to buy any securities.

Insofar as this publication contains forward-looking statements, these do not represent facts and are identified by the words “will”, “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” and similar formulations. These statements express intentions, views or current expectations and assumptions of the VIB Vermögen AG and the persons acting jointly with it. The forward-looking statements are based on current plans, estimates and forecasts which the VIB Vermögen AG and the persons acting jointly with it have made to the best of their knowledge, but do not make any statement about their future correctness. Forward-looking statements are subject to risks and uncertainties that are mostly difficult to predict and are usually not within the sphere of influence of the VIB Vermögen AG or the persons acting jointly with it. It should be taken into account that the actual results or consequences may differ significantly from those stated or contained in the forward-looking statements. The VIB Vermögen AG does not assume any obligation to update such forward-looking statements or to adjust them to future events or developments.

Ordinary General Meeting 2022

VIB Vermögen AG: Ordinary General Meeting approves dividend of EUR 0.85 per share 

• Dividend increases by almost twelve percent to EUR 0.85 per share
• Management Board and Supervisory Board are discharged with a clear majority
• Court-appointed Supervisory Board members confirmed in office by election
• All items on the agenda approved in accordance with the recommendation of the administration
• Extension of the appointment of Mr. Rainer Hettmer as Management Board member until 30 June 2024

Neuburg/Danube, August 31, 2022 – Around 73% of the voting share capital was represented at this year’s Ordinary General Meeting of VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties. The joint proposal by the Management Board and the Supervisory Board to distribute a dividend of EUR 0.85 per no-par value share with dividend entitlement, either in cash or in shares, received a majority of 99.97%. This means that the dividend has increased by almost twelve percent compared to the previous year.

The actions of the Management Board members for the 2021 financial year, Mr Martin Pfandzelter and Mr Holger Pilgenröther, were ratified with an approval rate of 96.05 percent. All members of the Supervisory Board during this period were also discharged with a large majority. In addition, the members of the Supervisory Board appointed by the court as of 13 April 2022 as part of the takeover of the majority of shares in VIB Vermögen AG by DIC Asset AG, Prof. Dr. Gerhard Schmidt and Ms. Sonja Wärntges, were confirmed in office by their election.

BDO AG in Munich was elected as auditor for the fiscal year 2022 with a large majority. The proposals for the authorisation to acquire own shares and for the creation of new authorised capital also received a large majority. Based on the new authorised capital, up to 13,855,004 new shares can be issued.

“We are very pleased that our dividend proposal was approved by a large majority. This year we would like to thank our shareholders for their trust in VIB Vermögen AG with a payment of EUR 0.85 per no-par value share and, as in the previous year, leave it up to you to decide whether you would like to receive the dividend payment in cash or as a stock dividend. We are also pleased with the great support that our Supervisory Board members Ms. Sonja Wärntges and Prof. Dr. Gerhard Schmidt have received. Together with their colleagues on the Supervisory Board, Mr. Ludwig Schlosser and Mr. Jürgen Wittmann, they will perform their important tasks constructively and in a spirit of trust,” commented Dirk Oehme, VIB Vermögen AG’s Management Board.

In the subsequent constituent meeting of the Supervisory Board, Mr. Ludwig Schlosser was confirmed as Chairman of the Supervisory Board and Mr. Jürgen Wittmann as Deputy Chairman of the Supervisory Board. Mr. Rainer Hettmer’s appointment to the Management Board was extended until June 30, 2024.

The subscription offer will be published on 31.08.2022. The subscription price and ratio will be announced on 09.09.2022. All documents regarding the stock dividend are published at https://vib-ag.de/en/scrip-dividend.

Contact

Investor Relations:
VIB Vermögen AG
Anja Landes-Schell
Tilly-Park 1
86633 Neuburg/Donau
Tel.: + 49 (0)8431 9077-961
Fax: + 49 (0)8431 9077-1961
E-Mail: ed.ga-biv@llehcs-sednal.ajna

Profile of VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Half-year results 2022

VIB Vermögen increases gross rental income and doubles profit for the period

• Gross rental income grows by 5.2 percent to EUR 46.6 million
• Adjusted net income from ordinary activities increases by 10.1 percent and reaches EUR 21.7 million
• Profit for the period increases by 113.4 percent to EUR 35.2 million
• Outlook for fiscal year 2022 confirmed 

Neuburg/Danube, August 2, 2022 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, was able to further improve its key financial figures in the first half of 2022 despite the challenging market environment. The gross rental income generated in the amount of EUR 46.6 million marks the highest level that has been achieved within a half-year in the company’s almost 30-year history.

This increase of 5.2 percent (previous year period: EUR 44.2 million) is attributable to the additional rental income from the properties added to the portfolio during the reporting period. Annualized net rental amounts to around EUR 92.1 million. At the same time, the vacancy rate at Group level remained at a pleasingly low level of 1.4 percent. As of the balance sheet date on June 30, 2022, VIB Vermögen AG’s portfolio included 106 commercial properties with a leasable area of just under 1.3 million square meters.

Earnings and equity at record levels
Expenses for financing the portfolio were again reduced and amounted to EUR 6.4 million in the first half of 2022 (previous year: EUR 6.8 million). Adjusted for nonrecurring effects, net income from ordinary activities increased by 10.1 percent to EUR 21.7 million (previous year: EUR 19.7 million). Profit for the period increased significantly by 113.4 percent to just under EUR 35.2 million. The main reasons for this significant increase were the rise in net rental income, the successful sale of the share in the joint venture with WDP GmbH, and the improved interest expense.

Equity grew by EUR 35.7 million since year-end 2021 to EUR 635.3 million as of June 30, 2022 (December 31, 2021: EUR 599.6 million). The equity ratio increased to 45.0 percent as of the balance sheet date on June 30, 2022 (December 31, 2021: 42.3 percent).

Value of real estate portfolio increased further
The VIB Group’s real estate portfolio was revalued in the second quarter of 2022. The net asset value (NAV) as the company’s net asset value increased significantly to EUR 1.6 billion as of June 30, 2022 (December 31, 2021: EUR 813.2 million). Based on the 27,710,009 shares outstanding as of June 30, 2022, this corresponds to an undiluted NAV per share of EUR 58.06, compared with EUR 29.35 as of December 31, 2021. LTV (loan-to-value), the ratio of the amount used to finance investment property to its market value, decreased since the beginning of the year to 28.2 percent as of June 30, 2022 (December 31, 2021: 44.5 percent).

Funds from operations (FFO), as an indicator of the company’s operating cash flows, increased by 10.3 percent from EUR 28.5 million to EUR 31.4 million in the first half of the year. Accordingly, FFO per share also improved from EUR 1.03 to EUR 1.13.

During the reporting period, a number of milestones were achieved which will contribute to VIB Vermögen AG’s further growth in future. In January 2022, the extension of a logistics property in Schwäbisch Gmünd was completed and handed over on schedule, increasing the total usable space of the logistics property by 6,100 square meters to 22,500 square meters. In the course of the expansion, the lease contract was also extended to seven years.

In February 2022 the starting signal was given for the marketing of one of the largest development projects of VIB in recent years. The construction of the “NEXT HORIZON” project with a total usable area of around 79,000 square meters is planned on the 215,000 square meters site in Erding. The commercial space is suitable for a wide variety of uses. Three office buildings with a total area of 15,700 square meters are planned, as well as five construction fields with building areas for logistics/light industry-related development of 2,100 to 30,300 square meters . In addition, a parking garage with over 700 parking spaces is planned, which can gradually supply around 50% of the parking spaces with charging capacity and thus fully meet the requirements in terms of electromobility. The properties will be built in accordance with the strict criteria for achieving DGNB Gold sustainability certification. The heat supply via district heating will contribute to this.

Project pipeline grows to a total usable space of around 156,000 square meters
In the first half of the year, a fully developed plot of land in Ingolstadt measuring around 41,000 square meters was also acquired and merged with an adjacent existing plot of land belonging to VIB measuring around 10,000 square meters. A property in the logistics and light industry sector is to be built on the entire site. As a result, the current real estate pipeline continues to grow and includes projects with a total potential floor space of around 156,000 square meters. In addition to its own developments, the company is also continuously examining the possibility of expanding its real estate portfolio through targeted acquisitions.

“I am very pleased to report that we continued our growth trajectory in the second quarter of this year 2022 and are moving forward with several lucrative projects with approximately 156,000 square feet of usable space from our pipeline. The revaluation of our portfolio in the second quarter of 2022 impressively demonstrates the high quality of our buildings and the expertise of our property managers, who create value on a daily basis. In addition, the integration of VIB Vermögen AG into the DIC Asset Group is proceeding smoothly and according to plan, not least thanks to the great commitment of the employees,” said Dirk Oehme, CFO of VIB Vermögen AG.

Forecast for 2022 foresees further growth
The Management Board adheres to the forecast published for fiscal 2022. Provided the economic situation in Germany remains stable, it expects to be able to generate sales of between EUR 103 and 109 million. EBT adjusted for valuation effects and special items is expected to rise to between EUR 67 and 71 million. FFO from operations is expected to increase to between EUR 58 and 62 million in fiscal 2022. With regard to vacancy development, the Management Board expects this to remain in the low single-digit percentage range (December 31, 2021: 1.2 percent). Finally, the average interest rate on the loan portfolio is expected to remain virtually unchanged at the end of 2022 (December 31, 2021: 1.7 percent). 

The 2022 half-year report and a current company presentation are available for download at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG

Petra Riechert     Tel. : + 49 (0)8431 9077-952

Tilly Park 1     Fax: + 49 (0)8431 9077-929

86633 Neuburg/Danube   E-Mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

Supervisory Board of VIB Vermögen appoints Mr. Nicolai Greiner as new Managing Board member from October 1, 2022 and Mr. Rainer Hettmer as Interim Managing Board member

Neuburg/Danube, June 29, 2022 – The Supervisory Board of VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial real estate, has appointed Mr. Nicolai Greiner as a new member of the Managing Board with effect from October 1, 2022. For the period from 1 July to 30 September 2022, Mr Rainer Hettmer has been appointed to the Executive Board on an interim basis.

Mr. Nicolai Greiner holds a degree in real estate economics and knows the real estate business from the ground up. Starting with his training as a businessman for real estate and housing, he has acquired excellent expertise through his activities and further training, for example, at Deutsche Immobilien AG in Freiburg from 2007 – 2009 and at the Academy of the Real Estate Industry from 2013 – 2014. He has held management positions at various real estate companies and is currently still active as Managing Director of thallos Projektentwicklung GmbH.

Mr. Hettmer has been employed as Head of Financing and Investments at VIB Vermögen AG since January 2002 and has known the company since it was founded in 1993. Together with Mr. Oehme, he will manage the AG’s business until Mr. Nicolai Greiner, as a new member of the Managing Board, takes over the operative real estate area from 1.10.2022.

“I am very pleased that we have found a perfect solution with both gentlemen, both to drive forward the integration process in the DIC Group and to promote the growth of VIB as a leading real estate company for logistics properties,” explained Ludwig Schlosser, Chairman of the
Supervisory Board of VIB Vermögen AG.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-Mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen continues course of operational growth in first quarter of 2022

– First-quarter sales up 7.0 percent to EUR 26.5 million

– Adjusted EBT increases by 8.4 percent to EUR 17.1 million

– Funds from operations increase by 12.1 percent to EUR 15.7 million

– Realignment of activities in North Rhine-Westphalia

Neuburg/Danube, May 11, 2022 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, increased its revenues by 7.0 percent from EUR 24.8 million in the opening quarter of 2021 to EUR 26.5 million in the first quarter of 2022. Adjusted EBT increased by 8.4 percent from EUR 15.8 million to EUR 17.1 million. Consolidated net profit was EUR 11.3 million in the first quarter of 2022, compared with EUR 17.0 million in the same period of the previous year. This was due to one-off special effects as part of the acquisition of a majority stake in VIB Vermögen by the DIC Group.

At the end of the first quarter of 2022, VIB Vermögen’s real estate portfolio consisted of 109 properties with a total leasable area of around 1.3 million square meters. The vacancy rate remained at a low level of 1.9 percent. The operating cash inflow from letting, the funds from operations (FFO), increased by 12.1 percent compared to the same period of the previous year to EUR 15.7 million. Accordingly, FFO per share increased from EUR 0.51 to EUR 0.57.

The net asset value (NAV) was EUR 831.9 million as of March 31, 2022 (December 31, 2021: EUR 820.3 million). The so-called net reinvestment value, or NRV, which is decisive for the value of the long-term portfolio, was EUR 899.0 million as of March 31, 2022 (December 31, 2021: EUR 887.3 million ).

Due to the new majority shareholding at VIB Vermögen, the company will transfer its share in the joint venture to WDP NV/SA, Wolvertem. As a result of DIC Asset’s majority shareholding, VIB Vermögen can now access DIC Asset’s extensive network of regional partners, which has grown over many years. This results in synergy effects and the opportunity to exploit the growth potential of the local logistics market in an even more targeted manner.

“From the excellent business figures for the first quarter of 2022, it is once again clear what distinguishes VIB Vermögen – a profitable real estate portfolio combined with a stable business model and a very committed team. I am looking forward to my new task, to working with my colleagues and to the profitable further development of VIB Vermögen,” said Dirk Oehme, CFO of VIB Vermögen AG.

The full interim statement for the first quarter of 2022 is available at www.vib-ag.de

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-Mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Finanical results 2021

VIB Vermögen achieves top figures for sales and earnings

– Sales increase by 10.2 per cent to EUR 103.8 million

– Adjusted EBT increases by 15.6 per cent to EUR 66.7 million

– Dividend proposal at EUR 0.85 per share

– Forecast for 2022 confirmed

Neuburg/Danube, April 27, 2022 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial real estate, has confirmed its previously published preliminary figures for fiscal year 2021. At EUR 103.8 million, revenues reached the highest level in the company’s 27-year history despite the once again challenging market environment against the backdrop of the ongoing Corona pandemic.

Rental income rises to over EUR 100 million for the first time
The 10.2 per cent increase in revenues is due to the additional rental income from the properties that were added to the portfolio during the period under review and the properties that did not yet fully contribute to earnings in the same period of the previous year (previous year: EUR 94.2 million). As of the balance sheet date on December 31, 2021, VIB Vermögen AG’s portfolio included 112 commercial properties with a lettable area of just under 1.3 million square meters.

The balance of changes in the value of investment properties increased to EUR 108.2 million (previous year: EUR 22.3 million). Expenses for investment properties decreased to EUR 16.6 million (previous year: EUR 17.4 million). Group personnel expenses increased from 4.2 million to EUR 4.5 million. Other operating expenses increased slightly to EUR 2.1 million (previous year: EUR 1.9 million).

Earnings and equity at record levels
Expenses for financing the portfolio were again reduced due to further optimization of the financing mix and amounted to EUR 13.4 million (previous year: EUR 14.1 million). Earnings before taxes (EBT) adjusted for valuation effects increased by 15.6 per cent to EUR 66.7 million (previous year: EUR 57.7 million). Consolidated net profit increased significantly by 128.5 per cent to EUR 153.7 million. Based on the EUR 27.7 million shares issued, this corresponds to earnings per share of EUR 5.39 (previous year: EUR 2.39).

Equity grew by EUR 136.8 million to EUR 762.0 million as of December 31, 2021 (December 31, 2020: EUR 625.2 million). The equity ratio increased by 440 basis points to 47.4 per cent as of the reporting date 2021 (December 31, 2020: 43.0 per cent).

Value of real estate portfolio increased
112 properties with a balance sheet value of around EUR 1.5 billion belonged to the VIB Group’s portfolio at the end of 2021. The net reinstatement value (NRV), which is decisive for the value of the long-term portfolio, increased to EUR 887.3 million as of December 31, 2021 (December 31, 2020: EUR 727.9 million). Based on the number of shares outstanding, the value increased by 21.3 per cent to EUR 32.02 per share (December 31, 2020: EUR 26.39 per share). Funds from operations (FFO) as an indicator of the company’s operating cash inflows increased by 15.3 per cent from EUR 1.83 to EUR 2.11 per share in the reporting year.

Increase in dividend planned
As a result of the good earnings, the Managing and Supervisory Boards of VIB Vermögen AG are planning to propose to the General Meeting that the dividend for the past fiscal year be increased by EUR 0.10 to EUR 0.85 per share (previous year: EUR 0.75 per share).

“Fiscal 2021 was a very successful year – despite the challenging environment due to the ongoing Corona pandemic. With its solid business model, our company is well equipped to continue growing. Our next lighthouse project “Next Horizon” in Erding will contribute to this development as a further milestone,” said Martin Pfandzelter, CEO of VIB Vermögen AG.

Guidance for 2022 foresees further growth
The Management Board expects to be able to generate sales of between EUR 103 and EUR 109 million in fiscal year 2022. EBT adjusted for valuation effects and special items is expected to increase to between EUR 67 and EUR 71 million. FFO from operations is expected to increase to between EUR 58 million and EUR 62 million in fiscal year 2022. With regard to vacancy development, the Management Board expects this to remain in the low single-digit percentage range (December 31, 2021: 1.2 per cent). Possible negative consequences due to the spread of the Corona virus have been taken into account in this planning based on the experience of the previous year. Additional effects, e.g. due to the war in Ukraine or disruptions to global supply chains, cannot currently be predicted and are therefore not included in this forecast.

The 2021 Annual Report and a current corporate presentation are available for download at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-Mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) iN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF SUCH JURISDICTION.

Press Release

VIB Vermögen AG: Combined value growth – following the successful completion of the partial tender offer, DIC Group and VIB Vermögen AG have signed a business combination agreement

– DIC now majority shareholder of VIB, holding approximately 60%

– Combined growth strategy in the logistics sector

– DIC supports VIB’s dividend proposal for 2021; annual general meeting postponed until the end of August

– Changes to VIB’s corporate bodies – Dirk Oehme appointed as member of the Management Board

– Annual targets of DIC raised due to the full consolidation of VIB

Neuburg/Danube, March 23, 2022 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, signed a business combination agreement with DIC Asset AG (“DIC” and, together with its subsidiaries, “DIC Group”) last night, following the successful expiration of DIC’s partial tender offer for shares of VIB. The aim is to pursue the long-term value growth of the DIC Group and VIB as a whole, and to improve their competitive position.

DIC Group already holds 60% of the outstanding VIB shares. A total of approximately 33.7% of the VIB shares have been tendered to DIC as part of the offer, which is more than the 6,500,000 VIB shares included in the partial tender offer. DIC Group intends to accept the offer for a total of 6,590,000 VIB shares (subject to any rounding in the context of the pro-rata acceptance). The completion of the tender offer and the retransfer of any excess VIB shares are expected to be completed by 1 April 2022.

Following the completion of the tender offer, DIC Group will hold approximately 60% of the outstanding VIB shares. Accordingly, DIC intends to fully consolidate VIB as of 1 April 2022.

DIC Group will use its majority stake in VIB to consistently expand its portfolio, particularly in the promising asset class of logistics real estate, and its footprint in southern Germany. The combined real estate assets of DIC Group and VIB amount to more than EUR 13 billion. DIC Group thereby expands its position as a leading office and logistics player in Germany’s commercial real estate market, while strengthening the basis for successful future growth.

Prof. Dr. Gerhard Schmidt, the Chairman of the Supervisory Board of DIC, said after the successful expiration of the partial tender offer to VIB shareholders: “With the majority acquisition of VIB, which will be fully consolidated by DIC going forward, DIC has impressively demonstrated its growth ambitions and significantly expanded its position within the highly attractive asset class of logistics real estate. It marks another important step for DIC Group’s growth strategy.”

Sonja Wärntges, CEO of DIC, commented: “I am pleased to warmly welcome all employees, tenants and all other stakeholders of VIB aboard DIC Group. Together, we will be starting a new chapter in our company’s success story today. DIC aspires to dynamic performance, and we will now take this aspiration to the next level as we pursue ambitious new goals. We have all the prerequisites in place to sustain our growth in the logistics real estate sector, a market rich in opportunity, and to dynamically expand our position as a leading company in Germany’s commercial real estate market. This will benefit our employees as well as our tenants, shareholders and investors. We expect to see an increase in gross rental income and a positive FFO contribution from the consolidation for the current year.”

Neuburg to remain domicile and registered seat of VIB
DIC commends the workforce of VIB for its motivation, creativity, willingness to perform and innovativeness as the very foundation of VIB’s past achievements. DIC seeks to continue and deepen its constructive dialogue with all employees of VIB, and to support VIB’s management board in its efforts to create and maintain an attractive and competitive framework in order to preserve its outstanding employee base. In addition, the size and diversity of DIC will offer VIB employees a significantly widened range of opportunities for their personal career development.

In the business combination agreement, DIC has agreed to retain the registered seat and actual administrative headquarters as well as the principal business address of VIB in Neuburg a. d. Donau. Additional commitments have been agreed with respect to subsidiaries of VIB.

“The talks with DIC were very constructive. We share the belief that the successful business model and the proven growth strategy of VIB should be continued. The same kind of continuity will be pursued for the location of Neuburg and our staff. This will secure the company’s ability to continue the success of recent years under the umbrella of DIC Group. I would like to take the opportunity to thank Martin Pfandzelter and Holger Pilgenröther for their tireless efforts. The company has thrived under their leadership. This is documented not least by the record results announced today. I wish both board members good luck and success for their future endeavours,” said Ludwig Schlosser, Chairman of the Supervisory Board of VIB, and himself a former member of the Management Board between 2000 and 2016, seven years thereof as CEO.

Reconciliation of financial calendars, annual general meeting and dividend
As part of the business combination agreement, it was also decided to align the financial calendars of DIC and VIB, and to immediately intensify the exchange of information and data. The annual general meeting of VIB, originally scheduled for the end of June 2022, is set to be rescheduled for late August 2022, in order to allow enough time for joint preparations and coordination. DIC supports the dividend proposal of EUR 0.85 per VIB share for the fiscal year 2021.

Intended changes to VIB’s Supervisory Board and Management Board
In the business combination agreement, it was also agreed that DIC should be represented on the Supervisory Board of VIB in a manner that adequately reflects its shareholding in VIB. In accordance with VIB’s articles of association, the Supervisory Board will continue to comprise four members. DIC, as majority shareholder of VIB, has proposed that the governing bodies of VIB apply for the court appointment of Sonja Wärntges and Prof. Dr. Gerhard Schmidt to replace the two members of the Supervisory Board of VIB who resigned on 22 March 2022. At the same time, DIC appreciates the willingness of Ludwig Schlosser and Jürgen Wittmann to continue their mandates as part of the Supervisory Board of VIB.

DIC welcomes and supports the appointment of Dirk Oehme as an additional member of the Management Board of VIB. Conversely, DIC as incoming majority shareholder regrets the decision by Martin Pfandzelter and Holger Pilgenröther to resign their mandates on the Management Board of VIB with effect as of 30 June 2022. On the Supervisory Board of VIB, DIC’s representatives will support the measures initiated by Chairman of the Supervisory Board, Ludwig Schlosser, to fill the vacant positions on VIB’s Management Board.

Revision of DIC’s forecast for 2022
Having attained a controlling stake in VIB, and assuming full consolidation of the VIB Group as of 1 April 2022, DIC has re-evaluated the anticipated development of DIC’s performance indicators for the current fiscal year. DIC’s original forecast from 9 February 2022 did not yet reflect any effects from inorganic growth. DIC now expects an increased gross rental income of between EUR 170 and 180 million and a growth in the key control variable Funds from Operations (FFO) after minority interests and before taxes to between EUR 130 and 136 million, in either case for the fiscal year 2022. All other target forecasts remain unchanged: real estate management fees of between EUR 105 and 115 million, an acquisition volume of EUR 1.4 to 1.9 billion, thereof EUR 200 to 300 million from the Commercial Portfolio and EUR 1.2 to 1.6 billion from the Institutional Business, and a sales volume of EUR 300 to 500 million, thereof c. EUR 100 million from the Commercial Portfolio and EUR 200 to 400 million from the Institutional Business.

About VIB Vermögen AG

VIB Vermögen AG is a mid-market real estate holding company whose investments concentrate on commercial real estate in southern Germany. Formed as a partnership in 1993, VIB Vermögen AG was converted into a public limited company in the year 2000. In the years since, the company has developed its core competencies in the areas of buying and administrating properties it owns outright and of acquiring equity interests in companies with real estate assets. VIB Vermögen AG pursues a buy-and-hold strategy. It develops real estate for its own portfolio but also acquires existing properties. The real estate portfolio of the VIB Group includes a variety of logistics real estate and industrial plants, shopping centres and retail parks, as well as business and service centres. With a total lettable area of about 1.3 million sqm, the VIB Group achieves sustainable rental yields.

About DIC Asset AG

DIC Asset AG is Germany’s leading listed specialist for commercial real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with eight offices on the ground in all major German markets. We manage 237 assets with a combined market value of c. EUR 11.5 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment represents the proprietary real estate portfolio of DIC Asset AG. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment vehicles that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

IR/PR Contact VIB Vermögen AG
Petra Riechert
Head of Investor Relations
Tilly-Park 1
D-86633 Neuburg an der Donau
Phone: +49 (0)8431 90771952
ed.ga-biv@trehceir.artep

IR/PR Contact DIC Asset AG
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 94548581492
ed.tessa-cid@ri

Disclaimer

This announcement is for information purposes only and neither constitutes an offer to purchase or exchange nor an invitation to sell or to make an offer to exchange securities of VIB. The final terms of the offer as well as further provisions regarding the partial offer have been disclosed in the offer document. Potential investors and holders of securities of VIB are strongly recommended to read the offer document and all other announcements in connection with the partial offer, as they contain or will contain important information. The offer period for the partial tender offer has already expired.

The offer is made exclusively under the laws of the Federal Republic of Germany. The offer is not subject to the legal provisions of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz), because the shares in VIB are only traded on the unregulated market (Freiverkehr). The offer will not be executed according to the provisions of jurisdictions other than those of the Federal Republic of Germany. Thus, no other announcements, registrations, admissions or approvals of the offer outside of the Federal Republic of Germany have been filed, arranged for or granted. Investors and holders of securities in VIB cannot rely on having recourse to provisions for the protection of investors in any jurisdiction other than the Federal Republic of Germany. The offer is not being made directly or indirectly, in any jurisdiction where to do so would constitute a violation of the national laws of such jurisdiction.

DIC expressly reserves the right to, directly or indirectly, acquire additional shares in VIB outside the offer on the stock exchange or outside the stock exchange or to enter into agreements regarding such acquisitions.

To the extent that this document contains forward-looking statements, such statements do not represent facts and are characterized by words such as “would”, “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of DIC and the persons acting in concert with DIC. Forward-looking statements are based on the current forecasts, estimates and predictions made by DIC and the persons acting in concert with it to the best of their knowledge, but may turn out to be inaccurate. Forward-looking statements are subject to risks and uncertainties and are influenced by factors that are typically difficult to predict and may be outside the control of DIC and the persons acting in concert with it. The actual events or developments may differ significantly from the plans, estimates and forecasts expressed or contained in the forward-looking statements. DIC and the persons acting in concert with it assume no obligation to update forward-looking statements with respect to actual developments or events, general conditions, assumptions or other factors.

Preliminary results 2021

VIB Vermögen AG achieves record results

– Revenues increase by 10.2 percent to EUR 103.8 million

– Adjusted earnings before taxes (EBT) rise by 15.6 percent to EUR 66.7 million

– Group profit grows by 128.5 percent to EUR 153.7 million

– Dividend proposal for thirteenth consecutive increase to EUR 0.85 per share

– Forecast for fiscal year 2022 envisages further growth

Neuburg/Danube, March 23, 2022 – According to preliminary calculations, VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, was able to increase its revenues and earnings considerably in fiscal year 2021. Compared to the same period of the previous year, revenues increased by 10.2 percent from EUR 94.2 million to EUR 103.8 million as a result of additional rental income.

Group earnings reach record level of EUR 153.7 million
Expenses for financing the portfolio decreased to EUR 13.4 million (previous year: EUR 14.1 million) due to the continued favorable financing conditions. Earnings before taxes (EBT) adjusted for valuation effects rose significantly by 15.6 percent to EUR 66.7 million (previous year: EUR 57.7 million). Consolidated net profit more than doubled compared to the same period of the previous year, growing by 128.5 percent to EUR 153.7 million (previous year: EUR 67.3 million). Based on the number of EUR 27.6 million shares, this corresponds to earnings per share of EUR 5.39 (previous year: EUR 2.39).

Further growth in value of real estate portfolio
At the end of the year, the portfolio comprised 112 properties with a balance sheet value of EUR 1.5 billion. The net reinstatement value (NRV), which determines the value of the long-term portfolio, improved by 21.9 percent to EUR 887.3 million. In relation to shares outstanding, this corresponds to a 21.3 percent increase in the value of EUR 32.02 per share.

The positive change in value of investment properties increased significantly to EUR 108.2 million (previous year: EUR 22.3 million). At the same time expenses for investment properties fell to EUR 16.6 million (previous year: EUR 17.4 million) and group personnel expenses increased from EUR 4.2 million to EUR 4.5 million. Other operating expenses increased by 13.7 percent to EUR 2.1 million (previous year: EUR 1.9 million). Furthermore, funds from operations (FFO), as an indicator of the company’s operating cash inflows, increased by 15.3 percent year-on-year from EUR 1.83 to EUR 2.11 per share.

A look at the balance sheet shows how solidly VIB Vermögen is positioned: Equity reached around EUR 762.0 million on December 31, 2021 (December 31, 2020: EUR 625.2 million). The equity ratio on the balance sheet date 2021 was 47.4 percent (December 31, 2020: 43.0 percent).

Thirteenth consecutive dividend increase planned
In order to allow shareholders to participate in the excellent results in fiscal year 2021, the Managing and Supervisory Boards are planning to propose the thirteenth consecutive increase in the dividend to VIB Vermögen AG’s General Meeting. It is to increase by EUR 0.10 year-on-year to EUR 0.85 per share.

“We are very pleased that, despite the more difficult conditions caused by the pandemic, we once again succeeded in further increasing all key figures in the past fiscal year and achieving a record result. We have thus impressively demonstrated that our business model allows us to grow profitably and crisis-resistant on a sustained basis, and that the company is excellently positioned for the future,” commented Holger Pilgenröther, CFO of VIB Vermögen AG.

Forecast 2022 foresees further growth
Revenues are expected to reach between EUR 103 and EUR 109 million in fiscal 2022. Operating EBT adjusted for valuation and special items is expected to increase to between EUR 67 and EUR 71 million. The operating cash flow FFO is expected to increase to between EUR 58 and EUR 62 million in fiscal 2022. Possible negative consequences due to the spread of the Corona virus were taken into account in the planning on the basis of the current state of knowledge.

The Company will publish its final results for 2021 fiscal year together with the Annual Report 2021 on April 27, 2022. A corporate presentation with further details on the preliminary 2021 financial results is available at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert                                Tel. : + 49 (0)8431 9077-952
Tilly Park 1                                     Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube                E-Mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.

Corporate News

VIB Vermögen AG starts marketing the “NEXT HORIZON” development project with around 79,000 sqm of commercial space in Erding

Neuburg/Donau, February 15, 2022 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, was able to obtain the building permit for the highly attractive 215,000 sqm site in Erding last year. The marketing of the space is now being launched exclusively with CBRE.

The property has good access to various motorways, and Munich Airport can be reached in around 15 minutes. The construction of around 79,000 sqm of lettable space is planned on the site. The commercial space is suitable for a wide variety of uses. Two office buildings with a total lettable area of around 15,700 sqm are planned, as well as six construction sites with building areas ranging from 2,100 to 30,300 sqm. NEXT HORIZON will be an area that can be 100% adapted to the individual needs of each user. The properties will be built according to the specifications required to achieve the DGNB Gold sustainability certificate, which VIB has received in the past for several of its self-developed properties. The company will meet the requirements with regard to electric mobility by constructing a multi-storey car park that has a staged concept for the installation of electric charging points.

The NEXT HORIZON project development opens up new construction perspectives and continues the series of highly regarded logistics properties of the leading German project developer VIB Vermögen. These include, for example, the double-decker lighthouse project in Ingolstadt’s Interpark whose usable building space of around 115,000 sqm has been leased long-term to Audi and VW since December 2020. Also implemented as an in-house development with well-known tenants was a distribution center near Augsburg, which will be used by Amazon on a long-term basis.

“The conditions in Erding offer us great opportunities to address a very broad target group. We can offer attractive, modern and sustainability-oriented space for local or national medium-sized companies through to global players from the life science, e-mobility, production, mechanical engineering, biotech or research and development sectors,” explained Martin Pfandzelter, CEO of VIB Vermögen AG.

Detailed information about the project can be found at https://next-horizon.exclusively-by-cbre.com/.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)84319077 -952
Tilly Park 1 Fax: + 49 (0)84319077 -929
86633 Neuburg/Danube E-mail: ed.ga-biv@trehceir.artep

Profile of the VIB Vermögen AG

VIB Vermögen AG is a medium-sized company that specialises in holding commercial properties and has now been operating successfully for two5 years. The focus is on properties in 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: on the one hand, VIB acquires properties that are already let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and to generate rental income from them. In addition, VIB holds interests in companies with real estate assets.