Category: Corporate News

Corporate News

VIB Vermögen AG: More than 30 percent of shareholders opt for the first-time offer of a stock dividend

Neuburg/Danube, July 28, 2021 – More than 30 percent of the shareholders of VIB Vermögen AG, which specializes in the development, acquisition and portfolio management of commercial real estate, exercised their first-time right to opt for a stock dividend. This means that approximately EUR 4.5 million of the total distribution of EUR 20.7 million remains in the company for further growth.

With yesterday’s entry in the commercial register, VIB Vermögen AG’s share capital will increase accordingly by 130,230 shares to 27,710,009 no-par value shares. The company offered its dividend as an optional dividend for the first time for the past fiscal year 2020. Shareholders were able to choose between a cash dividend of EUR 0.75 per share, the subscription of new shares, or a combination of both options. The subscription period ran up to and including July 16, 2021.

“We are very pleased that numerous shareholders have opted for the stock dividend right from the start, thus leaving capital in the company that is available for further investments,” said Martin Pfandzelter, CEO of VIB Vermögen AG.

At this year’s Ordinary General Meeting of VIB Vermögen AG, an overwhelming majority of 99.96 percent approved the joint proposal of the Managing and Supervisory Boards to distribute a dividend of EUR 0.75 per no-par value share with dividend entitlement, either in cash or in shares. This was a good seven percent increase compared to previous year and the twelfth time in succession that the dividend has been increased.

The cash dividend will be paid out by the custodian banks on July 29, 2021. The new shares are scheduled to be booked into the shareholders’ securities accounts and the first trading day for the new shares is scheduled for August 2, 2021. All information on the stock dividend has been published at https://vib-ag.de/en/investor-relations/annual-general-meeting.

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, Germany 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 25 years. It 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’s Annual General Meeting approves twelfth consecutive dividend increase

– Dividend increases by a good seven percent to EUR 0.75 per share

– Management and Supervisory Board members approved by large majority

– Proposed candidates elected to the Supervisory Board

Neuburg/Danube, July 1, 2021 – Around 42.8 percent of the voting share capital was
represented at this year’s Ordinary General Meeting of VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties. The joint proposal by the Managing and Supervisory Boards to distribute a dividend of EUR 0.75 per ordinary share with dividend rights, either as a cash dividend or a stock dividend, received a majority of 99.96 percent. This means that the dividend has increased by a good seven percent compared to the previous year and for the twelfth time in succession.

The members of the Management Board and the Supervisory Board were also formally approved by the Annual General Meeting with a large majority. The proposed candidates for the Supervisory Board, Mr. Florian Lehn, Mrs. Prof. Dr. Michaela Regler, Mr. Ludwig Schlosser and Mr. Jürgen Wittmann, were also elected with a comfortable majority. In the constituent meeting held after the Annual General Meeting, Mr. Ludwgi Schlosser was elected Chairman of the Supervisory Board and Jürgen Wittmann Deputy Chairman of the Supervisory Board. The appointment of Ernst & Young as auditors for fiscal 2021 was also approved by a large majority.

“We are very pleased that we were able to increase the dividend for the twelfth time in a row. I would like to take this opportunity to thank the two departing members, Mr. Rolf Klug and Mr. Franz-Xaver Schmidbauer, very much for their many years of dedicated work for the benefit of VIB Vermögen,” said Martin Pfandzelter, CEO of VIB Vermögen AG.

The subscription offer will be published tomorrow, Friday, July 2, 2021. The subscription price and ratio will be announced on July 13, 2021. All documents relating to the share dividend are published at https://vib-ag.de/aktiendividende.

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, Germany 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 25 years. It 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 acquires site with around 63,000 sqm for development pipeline and obtains building permission for property in Erding
 

Neuburg/Danube, June 24, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial properties, is expanding its development pipeline by acquiring a land plot in Meitingen in the Augsburg metropolitan region. Building rights have been granted for the plot in Erding by now.

The property in Meitingen, with a size of around 63,000 sqm, is very attractively located in terms of infrastructure and therefore offers very good opportunities for the establishment of various industries. It already has an existing development plan which, among other things, provides for 24/7 use. The planning for the development of the site provides for a very flexible design, with a total of around 25,300 sqm of lettable space.

VIB Vermögen has now received the building permit for the plot in Erding with a total size of around 215,000 sqm by resolution of the city of Erding. A lettable area of around 86,000 sqm will be created on the site, which will be suitable for different types of use, whereby the focus of commercial use will be in the area of light industry.

“In times of increasingly scarce space, we are very pleased that we can expand our pipeline on the one hand, and on the other hand that we can now make an attractive offer for the Greater Munich area for the construction of modern, sustainable commercial space of a substantial size,” explained Marin Pfandzelter, CEO of VIB Vermögen AG. “An important component in both projects was the close and constructive cooperation with the municipal representatives, which is ultimately decisive for the success.”

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, Germany 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 25 years. It 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 leases logistics property in Ehningen with 9,100 m² and raises Group’s occupancy rate to over 99% again

Neuburg/Danube, June 17, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and maintenance of commercial properties, has once again achieved an occupancy rate of more than 99% by letting its logistics property in Ehningen.

The logistics property with 9,100 m² of rental space is located in Ehningen, south of the metropolitan area Stuttgart/Böblingen, was acquired opportunistically as a vacant property. After the redevelopment phase, in which the property was converted into a modern, future-proof logistics facility under sustainability and fire protection aspects, it has now been let to an established logistics company for five and a half years from July 2021.

“With the property in Ehningen, we have once again successfully bridged the gap between purchase and project development, thereby also demonstrating our expertise as a specialist for attractive and sustainable logistics properties,” explained Martin Pfandzelter, CEO of VIB Vermögen AG. “We have thus once again achieved an occupancy rate of more than 99%, which allows us to look to the future with confidence.”

VIB also relies on continuously expanded reporting when it comes to sustainability. As of today, following the second EPRA sustainability report, the fourth sustainability report is now also available for download on the company’s website at www.vib-ag.de/en/sustainability.

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, Germany 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 25 years. It 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 publishes second EPRA sustainability report
 

Neuburg/Danube, June 8, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial real estate, today published its second EPRA Sustainability Report. The EPRA (European Public Real Estate Association) represents the interests of listed real estate companies in Europe and sets high requirements for its members in terms of transparent sustainability reporting.

In this report, VIB Vermögen addresses the topics of environment, social and good corporate governance and also reports in detail on numerous sustainability indicators in the real estate sector. For its first EPRA Sustainability Report last year, VIB Vermögen was immediately awarded in the categories “Gold” and “most improved”. VIB Vermögen also received the “Gold” award last year for its EPRA financial reporting, now for the third time in a row.

“Sustainable management and transparent reporting have been an integral part of our corporate strategy since the company was founded. We want to give our stakeholders an accurate insight into our company and thus also strengthen the trust of our business partners in the long term. As a real estate portfolio holder, we see further potential for reducing our CO2 emissions, particularly in the area of ecological measures, such as the expansion of our photovoltaic capacities”, said Holger Pilgenröther, CFO of VIB Vermögen AG.

The complete EPRA Sustainability Report of VIB Vermögen is available at www.vib-ag.de/en/sustainability

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, Germany 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 25 years. It 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 starts successfully into fiscal year 2021

– Revenues increase by 5.7 percent to EUR 24.8 million in the first quarter

– Adjusted EBT increases by 8.4 percent to EUR 15.8 million

– Funds from operations increase by 9.8 percent to EUR 14.0 million

– Guidance for the 2021 financial year confirmed

Neuburg/Danube, May 12, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial real estate, can look back on a good first quarter of the year. Between January and March 2021, revenues increased to EUR 24.8 million, up 5.7 percent on the previous year’s figure of EUR 23.4 million. Adjusted EBT improved by 8.4 percent to EUR 15.8 million. The Group result in the first quarter of 2021 increased significantly from EUR 14.6 million to EUR 20.2 million compared to the same period of the previous year. This corresponds to a plus of 38.7 percent.

At the end of the reporting period, VIB Vermögen’s real estate portfolio grew by two buildings to 115 properties with a total lettable area of around 1.3 million square metres. The vacancy rate was reduced from 2.5 percent to 1.4 percent compared to the end of 2020, and is thus at a very low level compared to the industry. The operating cash inflow from letting, the funds from operations (FFO), rose by 9.8 percent to EUR 14.0 million compared to the previous year.
Accordingly, FFO per share rose by 10.9 percent from EUR 0.46 to EUR 0.51.

NAV (net asset value) increased to EUR 684.4 million during the reporting period (31 December 2020: EUR 666.3 million).

“The good start to the 2021 financial year makes us very positive for the rest of the year. With the most recent significant lease extensions and the two property additions in the period under review, we have created the basis for further growth,” explained Holger Pilgenröther, CFO of VIB Vermögen AG.

Based on the results to date and subject to further macroeconomic effects of the Corona crisis, the Managing Board of VIB Vermögen AG confirms the guidance for 2021 as provided in the Annual Report 2020. This forecast provides for a further increase in revenues to between EUR 99 million and EUR 105 million. EBT before valuation effects and special items is expected to reach between EUR 61 million and EUR 65 million. FFO should increase to a level of EUR 54 to 58 million.

The full interim statement for the first quarter of 2021 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, Germany 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 25 years. It 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.

2020 financial results

VIB Vermögen remains successfully on a sustainable growth journey

– Revenue grows by 3.5 per cent to EUR 94.2 million

– Adjusted EBT rises by 3.1 per cent to EUR 57.7 million

– Equity ratio reaches 43.0 per cent

– Dividend set to increase for the twelfth time in a row to EUR 0.75 per share

Neuburg/Danube, April 28, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, confirms its previously published preliminary figures for the 2020 financial year. At EUR 94.2 million, revenue reached its highest level in the company’s 26-year history despite the challenging market environment stemming from the coronavirus pandemic.

Portfolio expands by roughly 125,000 sqm, helping increase rental income
The 3.5 per cent revenue increase is mainly attributable to two factors: the extra rental income from four logistics properties added to the portfolio during the reporting period, and rental income from properties that had not yet fully contributed to income in the preceding period (previous year: EUR 91.0 million). The VIB Vermögen AG portfolio counted 113 commercial properties with a rentable space of just under 1.3 million square metres as at the end of the reporting period on December 31, 2020. The portfolio’s market value is approximately EUR 1.4 billion.

The net changes in value for investment properties came in at EUR 22.3 million above the previous year’s figure. Expenses for investment properties climbed to EUR 17.4 million (previous year: EUR 16.1 million). Personnel expenses at the Group rose from EUR 3.9 million to EUR 4.2 million. Other operating expenses remained stable at EUR 1.8 million (previous year: EUR 1.8 million).

Income and equity at record levels
Expenses for financing the portfolio fell once again due to ongoing optimisation of the financing mix, this time to EUR 14.1 million (previous year: EUR 15.0 million). The adjusted earnings before tax (EBT) climbed by 3.1 per cent to EUR 57.7 million (previous year: EUR 56.0 million). Similarly, consolidated net income also developed positively during 2020. It reached EUR 67.3 million and therefore rose by 2.8 percentage points. (Previous year: EUR 65.4 million). Given the 27.6 million shares issued, it corresponds to earnings per share of EUR 2.39 (previous year: EUR 2.29).

Equity increased by EUR 47.9 million to EUR 625.2 million as at December 31, 2020 (December 31, 2019: EUR 577.3 million). As of the 2020 balance sheet date, the equity ratio stood at a considerable 43.0 per cent (December 31, 2019: 42.5 per cent).

Property portfolio value increases again
The VIB Group’s portfolio included 113 properties with a balance sheet value of roughly EUR 1.4 billion as at the end of 2020. The net asset value (NAV) of the company rose to EUR 666.3 million as of December 31, 2020 (December 31, 2019: EUR 613.0 million). Given the number of outstanding shares, it increased by 8.7 per cent to EUR 24.16 per share (December 31, 2019: EUR 22.23 per share). Funds from operations (FFO), as an indicator of the company’s operating cash inflow, were improved in the year under review, rising by 3.4 per cent from EUR 1.77 per share to EUR 1.83 per share.

Twelfth dividend increase in a row planned
On account of the pleasing results, the Managing and Supervisory Boards of VIB Vermögen AG intend to propose the twelfth dividend increase in a row at the Annual General Meeting. For the year under review, it is planned to pay out a dividend of EUR 0.75 per share, which is EUR 0.05, or 7.1 per cent, higher than in the previous year (previous year: EUR 0.70 per share).

“Despite the adverse conditions created by the Covid-19 pandemic, we successfully achieved our targets during the financial year just ended. This shows that our company has an excellent foundation for sustainable growth with a stable and profitable business model,” says Holger Pilgenröther, Chief Financial Officer of VIB Vermögen AG.
“Thanks to the major projects that entered our portfolio as the year progressed, we have expanded this basis for further, profitable growth in the current financial year. In conjunction with the new projects in our pipeline, we are forecasting increased revenue and earnings for this year, too,” adds Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

2021 guidance forecasts further growth
The Management Board is expecting revenue between EUR 99 million and EUR 105 million for the 2021 financial year. After adjusting for valuation effects and extraordinary items, EBT could reach an amount between EUR 61 million and EUR 65 million. FFO (funds from operating activities) is expected to rise to between EUR 54 million and EUR 58 million in the 2021 financial year. As for vacant properties, the Management Board expects that their share of the portfolio will remain a low, single-digit figure (December 31, 2020: 2.5 per cent).
This planning reflects the potential negative impacts caused by the spread of the coronavirus, based on last year’s experience. Any effects beyond these impacts cannot be foreseen currently and are therefore not included in the guidance.

The 2020 Annual Report, as well as an up-to-date corporate presentation, is 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, Germany 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 25 years. It 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 announces the completion of two logistics properties with a lettable area of around 16,500 m²

Neuburg/Danube, April 20, 2021 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial real estate, announces the completion of its project developments in Eslarn and in Interpark near Ingolstadt. Both properties were handed over to the tenants on schedule at the end of March.

The logistics building in Eslarn with a lettable area of around 9,400 m² has been leased for ten years to a company operating in the online retail sector.

With the new logistics building in the Interpark in Kösching, with an area of around 7,100 m² and a ten-year lease too, VIB Vermögen is expanding its presence in one of Bavaria’s largest industrial parks and strengthening its focus on the logistics sector.

“We are very pleased that we were able to conclude ten-year leases for both properties before construction began”, says Martin Pfandzelter, CEO of VIB Vermögen AG, adding: “The high energy standard and the equipment of the properties with a photovoltaic system contribute accordingly to optimising our portfolio in terms of sustainability.”

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, Germany 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 25 years. It 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 expands property in Schwäbisch Gmünd by 6,100 m² and extends lease for around 16,400 m² in existing building

Neuburg/Danube, April 14, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, expands its property in Schwäbisch Gmünd by around 6,100 m² and at the same time extends the lease for the existing property with a rental area of around 16,400 m² for seven years.

The property is located in a heavily frequented commercial area in Schwäbisch Gmünd. Due to the tenant’s increased demand for space, an expansion of the logistics facility is necessary. This can be implemented due to a new plot of land adjacent to the existing property. As a result, the lettable area of the entire property will increase to around 22,500 m². This can be implemented through a new building on the directly adjacent property. The total lettable area will hereby increase to around 22,500 m². The lease for the entire property has a term of seven years from completion, which is planned for the first half of 2022. Half of the roof of the extension building will be greened, and a photovoltaic system will be installed on the other half.

“We are very pleased that we can support our tenant’s expansion plans and growth with an energy-optimized building,” said Martin Pfandzelter, CEO 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, Germany 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 25 years. It 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.

2020 interim results

VIB Vermögen once again increases earnings and proposes
dividend increase

– Revenue increases by 3.5 per cent to EUR 94.2 million

– Adjusted earnings before tax (EBT) rise by 3.1 per cent to EUR 57.7 million

– Dividend proposal set to increase for the twelfth time in a row to EUR 0.75 per share

Neuburg/Danube, March 24, 2021 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, closed the 2020 fiscal year with a further increase in earnings according to interim calculations. By virtue of additional rental income, revenue climbed by 3.5 per cent from EUR 91.0 million to EUR 94.2 million.

The annual valuation of the property portfolio, which is carried out by an external surveyor, resulted in total positive changes in value for investment properties of EUR 22.3 million (previous year: EUR 22.3 million). Expenses for investment properties climbed to EUR 17.4 million (previous year: EUR 16.1 million). Personnel expenses at the Group rose from EUR 3.9 million to EUR 4.2 million. Other operating expenses remained stable at EUR 1.8 million (previous year: EUR 1.8 million).

Further increase in earnings
On account of the ongoing favourable financing conditions, expenses for the financing of the portfolio fell to EUR 14.1 million (previous year: EUR 15.0 million). When adjusted for valuation effects, earnings before tax (EBT) climbed by 3.1 per cent to EUR 57.7 million (previous year: EUR 56.0 million). Consolidated net income therefore increased accordingly by 2.8 per cent to EUR 67.3 million in 2020 (previous year: EUR 65.4 million). Given the 27.6 million shares, it also corresponds to earnings per share of EUR 2.39 (previous year: EUR 2.29).

Equity increased by EUR 47.9 million to EUR 625.2 million in the period to December 31, 2020 (31/12/2019: EUR 577.3 million). As of the 2020 balance sheet date, the equity ratio stood at 43.0 per cent (31/12/2019: 42.5 per cent).

Further growth in the value of the property portfolio
As of year end, the portfolio of the VIB Group comprised 113 properties, with a balance sheet value of EUR 1.4 billion. The net asset value (NAV) of the company climbed to EUR 666.3 million as of December 31, 2020 (31/12/2019: EUR 613.0 million). Given the number of outstanding shares, it increased by 8.7 per cent to EUR 24.16 per share (31/12/2019: EUR 22.23 per share). Funds from operations (FFO), as an indicator of the company’s operating cash inflow, improved in the year under review, rising by 3.4 per cent from EUR 1.77 per share to EUR 1.83 per share.

Twelfth dividend increase in a row planned
On account of the strong results, the Managing and Supervisory Boards of VIB Vermögen AG intend to propose the twelfth dividend increase in a row to the Annual General Meeting. For the year under review, it is planned to pay out a dividend of EUR 0.75 per share, which is EUR 0.05, or 7.1 per cent higher than in the previous year (previous year: EUR 0.70 per share).

“We are delighted that we have generated such a positive result despite the challenging economic environment associated with the coronavirus pandemic and that we can once again propose a dividend increase at this year’s Annual General Meeting,” explains Holger Pilgenröther, Chief Financial Officer of VIB Vermögen AG.

“In particular, the successful rental contract renewals for our major logistics properties indicate the effectiveness of our business model, which seeks to generate sustainably profitable results through in-house developments and in-house administration,” adds Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. “As our site pipeline is healthy and given that the current development projects are progressing according to plan, we also anticipate further increases in earnings this year.”

Continuation of the growth strategy through in-house developments
In conjunction with the ongoing construction projects in the current fiscal year, the major in-house developments completed in the previous year will lead to an increase in rentable area and therefore rising rental incomes.
It is expected that revenue of between EUR 99 million and EUR 105 million will be achieved in the 2021 fiscal year. When adjusted for valuation effects and extraordinary items, EBT is expected to reach a level between EUR 61 million and EUR 65 million. FFO (funds from operating activities) is expected to rise to between EUR 54 million and EUR 58 million in the 2021 fiscal year.
Potential adverse effects due to the spread of coronavirus have been included in the planning at the level of the prior-year effects. It is not currently possible to anticipate effects above and beyond this level, which is why such effects do not form part of the forecast.

The company will publish its final results for the 2020 fiscal year together with the 2020 Annual Report on April 28, 2021. A company presentation with details of the 2020 interim results can be found 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, Germany 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 25 years. It 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.