DGAP-News

VIB Vermögen AG: VIB Vermögen once again increases earnings and proposes dividend increase

DGAP-News: VIB Vermögen AG / Key word(s): Preliminary Results VIB Vermögen AG: VIB Vermögen once again increases earnings and proposes dividend increase 24.03.2021 / 07:30 The issuer is solely responsible for the content of this announcement. 2020 interim results

VIB Vermögen once again increases earnings and proposes
dividend increase

- Revenue increases by 3.5 per cent to EUR 94.2 million

- Adjusted earnings before tax (EBT) rise by 3.1 per cent to EUR 57.7 million

- Dividend proposal set to increase for the twelfth time in a row to EUR 0.75 per share

Neuburg/Danube, March 24, 2021 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, closed the 2020 fiscal year with a further increase in earnings according to interim calculations. By virtue of additional rental income, revenue climbed by 3.5 per cent from EUR 91.0 million to EUR 94.2 million.

The annual valuation of the property portfolio, which is carried out by an external surveyor, resulted in total positive changes in value for investment properties of EUR 22.3 million (previous year: EUR 22.3 million). Expenses for investment properties climbed to EUR 17.4 million (previous year: EUR 16.1 million). Personnel expenses at the Group rose from EUR 3.9 million to EUR 4.2 million. Other operating expenses remained stable at EUR 1.8 million (previous year: EUR 1.8 million).

Further increase in earnings
On account of the ongoing favourable financing conditions, expenses for the financing of the portfolio fell to EUR 14.1 million (previous year: EUR 15.0 million). When adjusted for valuation effects, earnings before tax (EBT) climbed by 3.1 per cent to EUR 57.7 million (previous year: EUR 56.0 million). Consolidated net income therefore increased accordingly by 2.8 per cent to EUR 67.3 million in 2020 (previous year: EUR 65.4 million). Given the 27.6 million shares, it also corresponds to earnings per share of EUR 2.39 (previous year: EUR 2.29).