EQS-Adhoc
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VIB Vermögen AG raises forecast for gross rental income and FFO due to the acquisition of majority interests in eight real estate companies
- VIB Vermögen AG raises rental income and FFO forecast.
- Acquired 89.9% stakes in eight real estate firms.
- Expected gross rental income now €85-89 million.
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EQS-Ad-hoc: VIB Vermögen AG / Key word(s): Real Estate/Forecast Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 (Market Abuse Regulation) |
VIB Vermögen AG raises forecast for gross rental income and FFO due to the acquisition of majority interests in eight real estate companies
VIB Vermögen AG, Tilly-Park 1, 86633 Neuburg/Donau, August 7, 2024
VIB Vermögen AG, Neuburg an der Donau, ISIN DE000A2YPDD0, today concluded a purchase agreement for the acquisition of majority interests of 89.9% and 89.7%, respectively, in eight real estate companies for a purchase price of around EUR 94 million. The real estate companies hold a total of nine properties. The sellers are Branicks Group AG and its affiliated companies.
The nine properties generate annualized rents of around EUR 16,0 million per year. Based on this transaction, updated transaction dates and financing assumptions, VIB Vermögen AG will increase both its gross rental income and its funds from operations (FFO*) before taxes and minority interests.
The Management Board now expects gross rental income of EUR 85 to 89 million for the current financial year 2024 (previously EUR 72.0 to 78.0 million).
The FFO* forecast figure is expected to range between EUR 74 and 78 million (previously EUR 62.0 to 68.0 million) according to the Management Board.
The Managing Board of VIB Vermögen AG
*Explanation: Operating result from real estate management, before depreciation, amortization, taxes, profits from sales and development projects and other non-recurring or non-cash income components.
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