VIB Vermögen AG
VIB Vermögen continues profitable growth course and plans a further dividend increase
DGAP-News: VIB Vermögen AG / Key word(s): Preliminary Results 2018 interim results VIB Vermögen continues profitable growth course and plans a further dividend increase – Revenue increases by 3.9 per cent to EUR 86.8 million – Adjusted earnings before tax (EBT) rise sharply by 9.9 per cent to EUR 51.7 million – Dividend set to increase for the tenth time in a row, with a proposed dividend of EUR 0.65 per share – Continued growth in revenue and earnings expected for 2019 Neuburg/Danube, March 27, 2019 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, closed its 25th anniversary year with another record result. Interim IFRS figures for the Group indicate that revenue increased by 3.9 per cent to EUR 86.8 million (previous year: EUR 83.6 million) in the 2018 financial year. This rise was chiefly driven by additional rental income from properties completed in the 2018 financial year. Furthermore, the properties handed over to tenants during the 2017 financial year made a significant revenue contribution, generating a full year’s rental income for the first time. Positive changes in value for investment properties amounted to EUR 19.5 million in the year under review (previous year: EUR 17.4 million). Expenses for investment properties climbed to EUR 15.0 million (previous year: EUR 13.8 million). Personnel expenses at the Group rose slightly from EUR 3.6 million to EUR 3.7 million. Other operating expenses remained stable at EUR 1.8 million (previous year: EUR 1.8 million). Sharp climb in earnings As of December 31, 2018, equity stood at EUR 527.6 million, which was EUR 44.2 million higher than the prior-year date (31/12/2017: EUR 483.4 million). The equity ratio rose again and now stands at 42.7 per cent (31/12/2017: 41.9 per cent). “VIB Vermögen celebrated its 25th anniversary in the 2018 financial year. It is therefore fitting that we have posted yet another excellent result. These figures provide further endorsement of our strategy of sustainable and targeted growth on the basis of a flexible business model,” remarks Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. “With our high-quality portfolio of existing properties and an attractive pipeline for future projects, we believe that we are well positioned in a demanding market environment,” adds Pfandzelter. Further dividend increase planned In-house developments driving growth in 2019 The company will publish its final results for the 2018 financial year together with the 2018 Annual Report on April 30, 2019. A company presentation with details of the 2018 interim results can be found at www.vib-ag.de.
VIB Vermögen AG
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.
27.03.2019 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 |
End of News | DGAP News Service |