EQS-News

VIB Vermögen AG with a successful first half of 2023

EQS-News: VIB Vermögen AG / Key word(s): Half Year Results VIB Vermögen AG with a successful first half of 2023 03.08.2023 / 07:45 CET/CEST The issuer is solely responsible for the content of this announcement. Press release VIB Vermögen AG with a successful first half of 2023

• Gross rental income of EUR 46 million as planned
• 7 percent increase in funds from operations (FFO) to EUR 37 million
• Consolidated net income up 80 percent to EUR 63 million
• Full-year forecast for 2023 confirmed

Neuburg/Danube, August 3, 2023. VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, can look back on a successful first half of 2023 in the face of a challenging market environment. Despite the sale of 31 retail properties as of March 31, 2023, gross rental income came to EUR 46.4 million and was, thus, almost on a par with the previous year. This performance was underpinned by the acquisition of logistics and light industrial properties in the second half of 2022 as well as ongoing rental indexing for portfolio properties.

“We are pleased with this high stability in the current difficult market environment. This is reflected in our cash flows and the consistently stable vacancy rate of our portfolio. In conjunction with DIC Asset AG, we are able to additionally build on our strength as a leading powerhouse for logistics. Our new Institutional Business segment promises additional and growing income. We want to actively take advantage of the opportunities arising from the market when it recovers in 2024,” explains Dirk Oehme, Speaker of the Board of VIB.

The real estate portfolio under the VIB Group’s umbrella comprises 158 properties as of 30 June 2023, the largest number in the company’s history. Of these, 83 are held in VIB’s in-house portfolio. A total of 75 properties have been held in the newly created Institutional Business segment since the beginning of the year. In this segment, VIB manages properties for external third parties, particularly institutional investors, generating lucrative property management fees for the company.