DGAP-News: VIB Vermögen AG: Successful start to the 2018 financial year

VIB Group corporate news: 2018 Q1 interim report

Successful start to the 2018 financial year

- Revenue grows by 4.3 per cent, adjusted EBT climbs sharply by 9.9 per cent

- FFO (funds from operations) rises by 10.4 per cent

- Vacancy rate remains at historically low level of 0.8 per cent

Neuburg/Danube, May 9, 2018 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has continued its growth trajectory in the first quarter of 2018.

On account of new investments that were incorporated into the portfolio in 2017, revenue rose by 4.3 per cent to EUR 21.3 million in the first three months of the year (previous year: EUR 20.4 million). Due to a further fall in interest expenses, adjusted earnings before tax (EBT) climbed sharply by 9.9 per cent to EUR 12.5 million (previous year: EUR 11.4 million).

FFO, which is an indicator of cash inflow from operating activities, increased by 10.4 per cent to EUR 10.8 million (previous year: EUR 9.8 million). FFO per share came in at EUR 0.39, compared with EUR 0.36 in the previous year. NAV (net asset value), the value of total assets less liabilities, increased by 2.1 per cent compared to the end of the 2017 fiscal year to reach EUR 523 million (31/12/2017: EUR 513 million). Given the number of shares in circulation as of the balance sheet date, NAV per share stood at EUR 18.97, compared with EUR 18.58 as of 31/12/2017.

In-house property management continues to bear fruit in terms of the operational course of business. The vacancy rate, which fell to a historic low of 0.8 per cent as of the end of 2017, remained at this outstandingly low level at the end of the first quarter of 2018. In addition, a new rental agreement was signed for a retail property in Goch with a lettable area of approx. 2,100 square metres. The comprehensively insured property was destroyed in a fire last year. It will now be rebuilt in accordance with the latest requirements and standards by the end of the year. The rental agreement term with the current tenant was extended until the end of 2029 as a result of the rebuild.

On the basis of the results for the first quarter of 2018, VIB Vermögen AG confirms its guidance for the 2018 financial year made in the 2017 Annual Report.

The full interim report for the first quarter of 2018, as well as a current corporate presentation, can be accessed at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert Tel. +49 (0)8431 9077 952
Tilly-Park 1 Fax: +49 (0)8431 9077 929
86633 Neuburg/Donau Email: petra.riechert@vib-ag.de

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry and retail sectors in the economically strong southern German region. VIB's shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

VIB's business model is based on a "develop-or-buy-and-hold" strategy. Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.