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VIB Vermögen continues profitable growth path successfully in Q3 2020

DGAP-News: VIB Vermögen AG / Key word(s): 9 Month figures VIB Vermögen continues profitable growth path successfully in Q3 2020 11.11.2020 / 07:30 The issuer is solely responsible for the content of this announcement. Corporate News

VIB Vermögen continues profitable growth path successfully in Q3 2020

- Revenue increases by 4.1 percent to EUR 70.4 million in the first nine months 2020

- FFO increased by 4.4 percent to EUR 38.1 million

- Consolidated net income increases significantly by 21.7 percent to EUR 46.4 million

- Guidance for the full year 2020 confirmed once again by the Board of Management

Neuburg/Danube, November 11, 2020 - VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial real estate, continued its growth course in the third quarter of 2020. In a challenging market environment, both revenues and earnings were increased. In the first nine months of 2020, revenues grew to around EUR 70.4 million - an increase of 4.1 percent compared to the same period of the previous year. EBT adjusted for valuation effects and special items improved by 3.9 percent to EUR 43.5 million, compared to EUR 41.9 million in the same period of 2019. Due to positive valuation effects, consolidated net income increased significantly by 21.7 percent year-on-year to EUR 46.4 million.

The financial impact of the Corona Crisis remained manageable in the period under review. Individual agreements were reached with some of the tenants in our portfolio as a result of the Corona Crisis. In this context, as of October 30, 2020, VIB has granted rent deferrals in the amount of EUR 550 thousand (July 31, 2020: EUR 575 thousand) and in individual cases also waived rents in the amount of EUR 376 thousand (July 31, 2020: EUR 330 thousand).

Further expansion of real estate portfolio
During the course of the year, the VIB Group's real estate portfolio was continuously expanded and comprised a total of 113 properties with a total rental area of 1.19 million sqm on September 30, 2020. The vacancy rate remained at a pleasingly low level of 2.6 percent.