EQS-News

VIB Vermögen AG presents successful financial year 2023

EQS-News: VIB Vermögen AG / Key word(s): Annual Results VIB Vermögen AG presents successful financial year 2023 30.04.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. VIB Vermögen AG presents successful financial year 2023

• Gross rental income as planned at EUR 86.9 million
• Funds from Operations (FFO) at EUR 72.6 million at upper end of guidance range
• Consolidated net income of EUR 130.8 million due to successful sales
• Retention of profits also planned for 2023
• Guidance 2024: FFO before taxes and minorities between EUR 62 and 68 million

Neuburg/Donau, 30 April 2024. VIB Vermögen AG (“VIB”), a company specializing in the development, acquisition and portfolio management of commercial properties, looks back on a successful fiscal year 2023, even in times of a challenging market environment. VIB fully achieved the 2023 guidance. Strategically, VIB not only further increased its focus on the logistics and light industrial segment, but also built a profitable and liquidity-rich second business area, Institutional Business, within a year.

„Last year, we achieved our strategic goals as well as our guidance. We will continue to work on the consistent implementation of our strategy, even in the current challenging market environment,“ explains Dirk Oehme, speaker of the Managing Board of VIB.

Gross rental income and FFO at upper end of guidance range
At EUR 86.9 million, gross rental income was slightly below the previous year (EUR 93.8 million) due to sales, but at the upper end of the guidance (EUR 82-88 million). At EUR 72.6 million, funds from operations (FFO) were above the previous year's level and also at the upper end of the communicated guidance (EUR 68-74 million). At 2.1%, the vacancy rate remains at a very low level.

Consolidated net income significantly above previous year’s level
Earnings from ordinary business activities increased significantly to EUR 151.7 million (previous year: EUR 61.9 million). This is primarily due to profits from property sales. For the same reason, consolidated net income also increased significantly, to EUR 130.8 million from EUR 54.7 million in the previous year.