DGAP-News
VIB Vermögen remains successfully on a sustainable growth journey
DGAP-News: VIB Vermögen AG / Key word(s): Annual Results/Annual Report 2020 financial results |
VIB Vermögen remains successfully on a sustainable growth journey
- Revenue grows by 3.5 per cent to EUR 94.2 million
- Adjusted EBT rises by 3.1 per cent to EUR 57.7 million
- Equity ratio reaches 43.0 per cent
- Dividend set to increase for the twelfth time in a row to EUR 0.75 per share
Neuburg/Danube, April 28, 2021 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, confirms its previously published preliminary figures for the 2020 financial year. At EUR 94.2 million, revenue reached its highest level in the company's 26-year history despite the challenging market environment stemming from the coronavirus pandemic.
Portfolio expands by roughly 125,000 sqm, helping increase rental income
The 3.5 per cent revenue increase is mainly attributable to two factors: the extra rental income from four logistics properties added to the portfolio during the reporting period, and rental income
from properties that had not yet fully contributed to income in the preceding period (previous year: EUR 91.0 million). The VIB Vermögen AG portfolio counted 113 commercial properties with a
rentable space of just under 1.3 million square metres as at the end of the reporting period on December 31, 2020. The portfolio's market value is approximately EUR 1.4 billion.
The net changes in value for investment properties came in at EUR 22.3 million above the previous year's figure. 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).