Category: Corporate News

Corporate News

Annual General Meeting of VIB Vermögen AG resolves to increase the dividend for the ninth time in a row

– Dividend increasing by nine per cent to EUR 0.60 per ordinary share

– Actions of the Management Board and Supervisory Board officially approved by a significant majority

– Ernst & Young appointed the new auditor
 

Neuburg/Danube, June 29, 2018 – Around 57.4 per cent of the voting-entitled capital was represented at this year’s Annual General Meeting of VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial real estate. As expected, the actions of the members of the Management Board and Supervisory Board in the 2017 financial year were officially approved by a significant majority of the shareholders.

Dividend of EUR 0.60 per ordinary share approved
The joint proposal by the Management Board and Supervisory Board to distribute a dividend of EUR 0.60 per ordinary share with dividend rights for the 2017 financial year was also met with widespread approval (previous year: EUR 0.55 per share). Based on the share price on December 31, 2017, this corresponds to a dividend yield of 2.8 per cent. Therefore, the company will be distributing over EUR 16.5 million amongst the 27,579,779 shares with dividend rights. This means that, since its incorporation, VIB Vermögen has paid a dividend to its shareholders every year and even increased the amount nine times in a row.

“We are happy to have enabled our shareholders to share in the success of our company again this year with an even higher dividend. With our business model, we are able to adapt to changes in the general conditions very well”, explained Martin Pfandzelter, CEO of VIB Vermögen AG, to the shareholders. VIB focuses on the in-house development, the acquisition of attractive properties and in addition the strategic expansion of its pipeline for future projects. Beside global influences, the company has to monitor factors such as property prices, interest rates, rents, construction costs and the creditworthiness of tenants. Only a company that brings these components together perfectly can operate so successfully. VIB Vermögen is therefore also well positioned for future growth and further increases in profitability.

Finally, the Annual General Meeting also accepted the proposal of the Supervisory Board to appoint the auditing firm Ernst & Young to audit the annual and consolidated financial statements for the 2018 financial year and review the interim reports. The change took place in order to meet the transparency requirements of the capital market.

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 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 adds 33,500 square metres to its property portfolio

– Infill development of office space in a portfolio property in Business Park Regensburg

– Construction of a logistics facility near Nuremberg

Neuburg/Danube, June 28, 2018 – VIB Vermögen AG, a company specialising in the development, acquisition and management of commercial properties, is adding another 33,500 square metres of new office and logistics space to its portfolio.

The company recently started adding around 3,500 square metres of space to an existing property in Business Park Regensburg as infill development in two additional office buildings on existing ground. Around 95 per cent of the new office spaces at the in-demand location are already being leased to three long-term tenants. The construction of the bulding is due to finish in the fourth quarter of 2019. On the basis of the parameters, the project is expected to have an initial yield of around 7.5 per cent.

The second real estate project is the construction of a logistics facility that is due to be completed in the fourth quarter of this year. Situated in Schwarzenbruck in the vicinity of the booming city of Nuremberg, the property will have a total lettable area of around 30,000 square metres. Already before completion, a tenant from the logistics sector was won for around one third of the rental space, who intends to set up a business and administrative headquarters at this location in order to profit from the economic power of the Nuremberg metropolitan region. The initial yield of this project will be around 8.5 per cent.

“The realisation of the two real estate projects – infill development and a new build – is consistent with our business model whereby we are flexible enough to react to the conditions of the markets. It has proven itself once again here”, says 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 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.

VIB Group corporate news: 2018 Q1 interim report

Successful start to the 2018 financial year

– Revenue grows by 4.3 per cent, adjusted EBT climbs sharply by 9.9 per cent

– FFO (funds from operations) rises by 10.4 per cent

– Vacancy rate remains at historically low level of 0.8 per cent

Neuburg/Danube, May 9, 2018 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has continued its growth trajectory in the first quarter of 2018.

On account of new investments that were incorporated into the portfolio in 2017, revenue rose by 4.3 per cent to EUR 21.3 million in the first three months of the year (previous year: EUR 20.4 million). Due to a further fall in interest expenses, adjusted earnings before tax (EBT) climbed sharply by 9.9 per cent to EUR 12.5 million (previous year: EUR 11.4 million).

FFO, which is an indicator of cash inflow from operating activities, increased by 10.4 per cent to EUR 10.8 million (previous year: EUR 9.8 million). FFO per share came in at EUR 0.39, compared with EUR 0.36 in the previous year. NAV (net asset value), the value of total assets less liabilities, increased by 2.1 per cent compared to the end of the 2017 fiscal year to reach EUR 523 million (31/12/2017: EUR 513 million). Given the number of shares in circulation as of the balance sheet date, NAV per share stood at EUR 18.97, compared with EUR 18.58 as of 31/12/2017.

In-house property management continues to bear fruit in terms of the operational course of business. The vacancy rate, which fell to a historic low of 0.8 per cent as of the end of 2017, remained at this outstandingly low level at the end of the first quarter of 2018. In addition, a new rental agreement was signed for a retail property in Goch with a lettable area of approx. 2,100 square metres. The comprehensively insured property was destroyed in a fire last year. It will now be rebuilt in accordance with the latest requirements and standards by the end of the year. The rental agreement term with the current tenant was extended until the end of 2029 as a result of the rebuild.

On the basis of the results for the first quarter of 2018, VIB Vermögen AG confirms its guidance for the 2018 financial year made in the 2017 Annual Report.

The full interim report for the first quarter of 2018, as well as a current corporate presentation, can be accessed 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/Donau 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.

2017 Annual Report

VIB Vermögen confirms outstanding results for 2017

– Adjusted EBT grows by 15.4 per cent, FFO climbs by 15.2 per cent

– Significant dividend increase of 9.1 per cent to EUR 0.60 per share

– Further profitable growth anticipated for 2018

Neuburg/Danube, April 25, 2018 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has today presented its Annual Report for the 2017 fiscal year. On the basis of the audited annual financial statements, the company confirms its interim results published on March 21, 2018.

Consolidated revenue rose by 5.0 per cent to EUR 83.6 million in the year under review (previous year: EUR 79.5 million). This increase is chiefly attributable to the completion of further in-house developments. Positive changes in value for investment properties amounted to EUR 17.4 million in the year under review (previous year: EUR 18.0 million). Expenses for investment properties rose slightly by EUR 0.5 million to EUR 13.8 million (previous year: EUR 13.3 million). Personnel expenses declined marginally in the reporting period to EUR 3.6 million (previous year: EUR 3.8 million). Other operating expenses came in at EUR 1.8 million (previous year: EUR 1.6 million).

Above-average growth in earnings
Adjusted earnings before interest and tax (EBIT) climbed by 5.5 per cent to EUR 64.4 million in the year under review (previous year: EUR 61.1 million). More favourable financing conditions and a reduction in overall liabilities led to a sharp fall of EUR 3.0 million, or 14.8 per cent, in interest expenses, which declined to EUR 17.4 million (previous year: EUR 20.4 million). This resulted in a significant rise in adjusted earnings before tax (EBT), which climbed by 15.4 per cent to EUR 47.1 million (previous year: EUR 40.8 million). Consolidated net income improved by 9.2 per cent to EUR 53.9 million (previous year: EUR 49.4 million), which is reflected in earnings per share of EUR 1.87 (previous year: EUR 1.71).

Rise in FFO forms the basis for a further dividend increase
Funds from operations (FFO), as an indicator of the company’s operating cash inflow, improved considerably in the year under review, rising by 15.2 per cent to EUR 1.49 per share, compared with EUR 1.30 per share in the previous year. Therefore, the Managing and Supervisory Boards will once again propose a significant dividend increase of 9.1 per cent to EUR 0.60 at the Annual General Meeting.

“Our flexible business model gives us the opportunity to switch between in-house developments and the targeted acquisition of attractive properties,” explains Holger Pilgenröther, CFO of VIB Vermögen. “We are therefore paving the way for future profitable growth at VIB Vermögen, even in a challenging environment.”

Equity ratio increases to 42 per cent
As of the end of the 2017 fiscal year, equity had risen by EUR 39.8 million to EUR 483.4 million (31/12/2016: EUR 443.5 million). The equity ratio rose by 2.2 percentage points to 41.9 per cent (31/12/2016: 39.7 per cent), demonstrating the company’s exceptionally solid financing structure. The net asset value (NAV) of the company rose by 9.0 per cent to EUR 512.5 million as of the balance sheet date (31/12/2016: EUR 470.1 million). Given the number of outstanding shares, it also increased by 9.0 per cent to EUR 18.58 per share (31/12/2016: EUR 17.05 per share).

Portfolio grows to 1.06 million square metres of rentable space
With the completion of three in-house developments in the last year, rentable space has grown to 1.06 million square metres. The vacancy rate stood at a historically low level of 0.8 per cent as of 31/12/2017.

Further profitable growth planned for 2018
For the current financial year, the Managing Board anticipates revenue growth to between EUR 85.0 million and EUR 89.0 million. EBT, before valuation effects and extraordinary items, is expected to reach between EUR 48.0 million and EUR 50.5 million. In terms of funds from operations (FFO), the Managing Board expects a figure between EUR 42.0 million and EUR 44.5 million.

The 2017 Annual Report, as well as a current corporate presentation on the final results for 2017, 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/Donau 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.

2017 preliminary results

Strong earnings increase for VIB Vermögen in 2017

– Revenue up by 5.0% to EUR 83.6 million

– Above-average increase in adjusted earnings before tax (EBT) of 15.4% to EUR 47.1 million

– Guidance for the 2017 fiscal year met in full

– Considerable proposed dividend increase of 9.1% to EUR 0.60 per share

– Further growth in revenue and earnings planned for 2018

Neuburg/Danube, March 21, 2018 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has enjoyed a very successful 2017 fiscal year.

The preliminary IFRS consolidated figures show that revenue rose by 5.0% to EUR 83.6 million (previous year: 79.5 million), chiefly due to the increase in rental income resulting from new investments and rental indexing. In the reporting period, positive changes in value for investment properties came in at EUR 17.4 million (previous year: EUR 18.0 million). Expenses for investment properties climbed to EUR 13.8 million (previous year: EUR 13.3 million). Personnel expenses declined to EUR 3.6 million in the year under review (previous year: EUR 3.8 million). Other operating expenses rose to EUR 1.8 million (previous year: EUR 1.6 million).

Strong growth in earnings
Overall, earnings before interest and taxes (EBIT), adjusted for valuation effects, rose by 5.5% to EUR 64.4 million (previous year: EUR 61.1 million). Due to a decrease in overall liabilities and more favourable financing terms, interest expenses fell sharply by EUR 3.0 million, or 14.8%, from EUR 20.4 million to EUR 17.4 million.

When adjusted for valuation effects, earnings before tax (EBT) rose considerably by 15.4% to EUR 47.1 million (previous year: EUR 40.8 million). The consolidated net income improved by 9.2% to EUR 53.9 million (previous year: EUR 49.4 million). Given the number of shares, this equates to an increase of 9.2% in earnings per share, which now stand at EUR 1.87 (previous year: EUR 1.71).

“With our focus on in-house developments, we continue to see further potential for growth and rising profitability in the future,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. “At the same time, we are working continuously on our site pipeline for future projects and reviewing the possibilities for targeted acquisitions of promising properties,” continues Pfandzelter.

As of the end of the 2017 fiscal year, equity had risen by EUR 39.8 million to EUR 483.4 million (31/12/2016: EUR 443.5 million). The equity ratio climbed by 2.2 percentage points to 41.9% within the one-year period (31/12/2016: 39.7%), thus paying testament to the company’s exceptionally solid financing structure.

Improved portfolio indicators
The net asset value (NAV) of the company rose by 9.0% to EUR 512.5 million as of the balance sheet date (31/12/2016: EUR 470.1 million). Given the number of outstanding shares, it also increased by 9.0% to EUR 18.58 per share (31/12/2016: EUR 17.05 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 15.2% to EUR 1.49 per share, compared with EUR 1.30 per share in the previous year.

Holger Pilgenröther, Chief Financial Officer of VIB Vermögen, comments the pleasing result: “Operational growth, coupled with the sharp decline in interest expenses, has resulted in strong FFO. This enables us to propose a dividend increase to the Annual General Meeting for the ninth time in a row. This year, we wish to increase the dividend by 0.05 EUR or 9.1% to EUR 0.60 per share.”

Further growth anticipated for 2018
2018 is set to be another year of growth, driven by in-house developments in conjunction with targeted acquisitions. Two modern logistics properties – one at Interpark near Kösching and one in Vaihingen/Enz – are currently under construction, with completion scheduled for the second half of 2018. Furthermore, attractive offers to purchase properties and sites are reviewed on an ongoing basis.

2018 guidance
Overall, the Management Board anticipates further revenue growth, coupled with a further increase in profitability, for the current fiscal year. Revenue is expected to increase to between EUR 85.0 million and EUR 89.0 million. The company also expects that EBT will amount to between EUR 48.0 million and EUR 50.5 million (excluding valuation effects and extraordinary items). Funds from operations (FFO) are expected to come in at between EUR 42.0 million and EUR 44.5 million, which is higher than in the previous year.

The company will publish its final results for the 2017 fiscal year together with the 2017 Annual Report on April 25, 2018. A company presentation with details of the 2017 preliminary 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/Donau 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 starts 2018 with further portfolio growth

– Handover of 8,500 square metres of new commercial and office space in the growth region of Nuremberg

– Sites with a rentable area totalling to around 200.000 square metres in the project pipeline

Neuburg/Danube, January 24, 2018 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, continues the growth path with new projects in 2018.

First in-house development in 2018 handed over on schedule
A new property – which is already fully let – was completed at the Grundig business park on Beuthener Strasse in Nuremberg at the turn of the year. The new property was built as part of redensification on existing plots, giving rise to an additional 7,600 square metres of industrial space and some 900 square metres of new office space. One of the two tenants took possession of their section of the property on January 2, 2018 already, with the handover of the remaining section scheduled for July 1, 2018. Both rental agreements will run for ten years.

Foundation laid for further growth in 2018
VIB Vermögen will continue to sustainably expand its portfolio by means of further in-house developments in 2018. The company already foresees the construction start and completion of two properties that will strengthen the logistics/light industry segment. One of these properties will be located at the Interpark site near Ingolstadt and will offer a rentable area of some 13,500 square metres, whereas the other property will be situated at a new site in Vaihingen/Enz in Baden-Württemberg and will have a rentable area of approximately 10,400 square metres. A medium-sized production company is the principal tenant of both properties.
Alongside the completion of new buildings on existing properties, VIB also owns further plots in the Augsburg, Ingolstadt, Munich and Nuremberg metropolitan areas. The company currently boasts a total pipeline of plots measuring approximately 200,000 square metres of expected rental space for future project developments. Some 40 per cent of these sites are situated in the greater Munich area, with 60 per cent in the growth regions of Augsburg, Ingolstadt and Nuremberg.

“It is our experience that regulations concerning the designation of commercial sites are being applied in an increasingly restrictive manner. Nonetheless, we are able to keep expanding our pipeline for future projects. We regard our clear focus on the economically strong region of southern Germany as favourable to VIB. Here, we are able to harness our network of companies, tenants and local authorities to great effect, thus gaining access to sites in desirable and sustainable locations,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen. “The redensification in Nuremberg, however, is proof that we are still seizing opportunities to expand existing sites in addition to the acquisition of plots,” continues Pfandzelter.

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 grows whilst increasing profitability
 

– Operating revenue up by 5.7% to EUR 62.2 million

– A further above-average rise in adjusted earnings before tax (EBT), which are up by 17.0%

– Redensification and plot purchase dominate operating business

– Guidance confirmed for 2017 financial year as a whole
 

Neuburg/Danube, November 9, 2017 – VIB Vermögen AG, a company specialising in the acquisition, development and portfolio management of commercial properties, recorded significant increases in both revenue and earnings in the first nine months of 2017. This was mainly due to higher rental incomes associated with in-house developments, as well as a significant fall in interest expenses connected with existing loans.

The company’s operating revenue rose by 5.7% in the first nine months of 2017, climbing from EUR 58.8 million to EUR 62.2 million. When adjusted for valuation effects, earnings before interest and taxes (EBIT) climbed by 6.9% from EUR 45.2 million to EUR 48.3 million. Following adjustment for valuation effects and extraordinary items, earnings before tax (EBT) once again grew much more strongly by 17.0% from EUR 29.9 million to EUR 35.0 million. The consolidated net income improved by 5.6%, from EUR 30.2 million to EUR 31.9 million. Given the average number of shares in the financial year, this equates to an increase of 5.7% in diluted and undiluted earnings per share, from EUR 1.05 to EUR 1.11.

The company’s property sector-specific KPIs also improved on account of the positive course of business. FFO (funds from operations) rose by 16.9% from EUR 26.2 million to EUR 30.6 million. Undiluted NAV (net asset value), i.e. the value of total assets less total liabilities, increased by 3.8% compared to the end of 2016 (EUR 470.1 million) to reach EUR 488.1 million. The NAV per share improved accordingly by 3.8%, from EUR 17.05 to EUR 17.70 per share.

Holger Pilgenröther, Chief Financial Officer of VIB Vermögen AG: “Alongside the strong result from the rental business, the positive effect arising from a drop in interest expenses on our loans played a decisive role in our profitable growth, which comes in a market characterised by considerable demand and high prices. By virtue of the sustained low interest rates, this effect will continue in the future and will have further positive effects on our earnings and, consequently, our internal financing capability.”

The operating highlights of the quarter included the densification via a new logistics property on an existing site at the former Grundig business park in Nuremberg. A further highlight was the acquisition of a site in Vaihingen/Enz in Baden-Württemberg. Here too, a new logistics property will be built, with construction scheduled to start halfway through the fourth quarter. Construction is also due to begin on a further logistics property at Interpark near Ingolstadt during the same period.

“We are delighted that we have been able to successfully implement our strategic approach – which involves growing increasingly by means of highly profitable in-house developments – with multiple projects in 2017. This is not only reflected in our current results, but also lays the foundation for future profitable growth. Thanks to the unwaveringly high demand for logistics properties, coupled with our solid financial position, we are confident that we will be able to complete further in-house developments in the future,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG.

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

The full nine-month 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 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.