VIB Vermögen AG
VIB Vermögen AG:
DGAP-News: VIB Vermögen AG
/ Key word(s): Quarter Results
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. 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. The full interim statement for the first quarter of 2021 is available at www.vib-ag.de.
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.
12.05.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | VIB Vermögen AG |
Tilly-Park 1 | |
86633 Neuburg/Donau | |
Germany | |
Phone: | +49 (0)8431 / 9077 952 |
Fax: | +49 (0)8431 / 9077 973 |
E-mail: | petra.riechert@vib-ag.de |
Internet: | www.vib-ag.de |
ISIN: | DE0002457512 |
WKN: | 245751 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange |
EQS News ID: | 1195211 |
End of News | DGAP News Service |