VIB Vermögen AG

VIB Vermögen: Significant increase in revenue and profitability in FY 2014

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Neuburg/Danube (pta006/22.04.2015/07:30) - - - Total operating revenue rises by 7.3 % to EUR 70.5 million; disproportionately strong gains in EBT by 9.1 % to EUR 38.3 million - Attractive interest environment and solid and sustainable financing structure continue to drive additional future NAV growth - 2015 forecast: total operating revenue of EUR 74.0 - 77.0 million, EBIT of EUR 53.5 - 56.0 million and EBT of EUR 33.0 - 35.0 million before valuation effects

Neuburg/Danube, April 22, 2015 - VIB Vermögen AG, a company specialising in commercial real estate management, looks back on a successful 2014 fiscal year. Given further new investments, consolidated revenue was up by 7.6 % to EUR 69.9 million (previous year: EUR 65.0 million), and total operating revenue increased by 7.3 % to EUR 70.5 million (previous year: EUR 65.7 million).

The company also met or exceeded all profitability forecasts: earnings before interest and tax (EBIT excluding valuation effects and extraordinary items) of EUR 51.6 million grew by 9.7 % (previous year: EUR 47.0 million) and was recorded at the upper end of the forecast range of EUR 50.5 million to EUR 52.0 million. Earnings before tax (EBT) excluding valuation effects and extraordinary items of EUR 31.2 million were 15.5 % ahead of the previous year's EUR 27.0 million, thereby exceeding the company's forecast of EUR 29.0 million to EUR 30.5 million. Consolidated net income increased to EUR 32.4 million (previous year: EUR 29.0 million). The Managing and Supervisory boards will propose to the AGM on July 1, 2015, to raise the dividend per share by 6.7 % from EUR 0.45 to EUR 0.48.

As Holger Pilgenröther, CFO of VIB Vermögen AG, outlines: "Efficient in-house management of our real estate portfolio enabled us to again boost our operating earnings faster than our rate of revenue growth in 2014. We have also further reduced our borrowing costs thanks to the favourable interest rate environment - the average interest rate on our borrowings portfolio amounted to 3.91 % on the balance sheet date. Further fixed interest arrangements on annuity loans will expire over the coming two to three years. Given today's interest-rate level, this offers additional opportunities to cut our interest costs over the coming years. Along with our operational expansion, this will also drive further income and NAV growth for us."