VIB Vermögen AG: VIB Vermögen AG continues on growth path during Q1 2014

Neuburg/Danube (pta007/14.05.2014/07:30 UTC+2) - Total operating revenue grows 4.4 % to EUR 17.0 million
- Profitability further improves: EBT up 3.0 % to EUR 9.1 million, 53.6 % EBT margin
- Company continues successfully with targeted investments in retail properties

Neuburg/Danube, May 14, 2014 - VIB Vermögen AG, a company specialising in commercial real estate portfolio management, remained on its growth path during the first quarter of 2014, reporting (IFRS) revenue up 4.3 % to EUR 16.9 million (Q1/2013: EUR 16.2 million). Total operating revenue grew to EUR 17.0 million (Q1/2013: EUR 16.3 million). Due to the measurement at fair value through profit or loss of the properties in Bischberg and Nördlingen, EUR 1.1 million of valuation changes to investment properties were reported in the first quarter of 2014 (Q1/2013: EUR 1.7 million). After deducting operating expenses, the Group reported earnings before interest and tax (EBIT) of EUR 14.1 million, 4.6 % higher than the EUR 13.5 million reported in Q1 2013. When adjusted to reflect valuation results, EBT grew by 10.3 % to EUR 13.0 million (Q1/2013: EUR 11.8 million), with VIB Vermögen AG thereby registering a further operating profitability improvement.

Due to increased investment activities, the net interest result amounted to EUR -5.0 million in the first quarter (Q1/2013: EUR -4.8 million). Overall, VIB Vermögen AG generated earnings before tax (EBT), of EUR 9.1 million (Q1/2013: EUR 8.8 million) - reflecting 3.0 % growth and the company's strong profitability. EBT adjusted for valuation effects and extraordinary items grew from EUR 7.0 million in the previous year's quarter to EUR 8.0 million in Q1 2014 (+15.2 %).

When taking almost unchanged income taxes of EUR 1.4 million into account, consolidated net income amounted to EUR 7.7 million, which was also ahead of the previous year's result (Q1/2013: EUR 7.4 million). Given a higher number of shares in issue, this corresponds to basic earnings per share of EUR 0.30, compared with EUR 0.31 in the prior-year period (diluted: EUR 0.29, Q1/2013: EUR 0.30). FFO (Funds from operations) of EUR 7.2 million were also higher than in the first quarter of last year (Q1/2013: EUR 6.2 million), with FFO per share rising accordingly to EUR 0.29 (Q1/2013: EUR 0.27), thereby forming a solid foundation for further profitable growth. The undiluted net asset value (NAV) per share stood at EUR 14.26 as of March 31, 2014 (diluted: EUR 13.85 per share).

"With our promising investments at the start of this year, we have again laid the basis for further revenue and earnings growth in the 2014 fiscal year. We aim to continue on our growth path not only through investments in already-rented existing properties, but also through high-return development projects," comments Ludwig Schlosser, CEO of VIB Vermögen AG.

The full report for the first quarter of 2014 is available for downloading from today on the company's website at www.vib-ag.de within the Investor Relations area.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg/Donau
Phone: + 49 (0)8431 504-952
Fax: + 49 (0)8431 504-973
Email: petra.riechert@vib-ag.de

cometis AG
Ulrich Wiehle / Patrick Ortner
Unter den Eichen 7
65195 Wiesbaden
Phone: +49 (0)611 205855-16
Fax: +49 (0)611 205855-66
Email: ortner@cometis.de

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized real estate holding company whose investments focus on commercial properties in Southern Germany. Formed as a partnership in 1993, VIB Vermögen AG was transformed to become a German public limited company (Aktiengesellschaft) in 2000. The company acts successful on the market for 20 years now. Since then, the company has been developing its core competencies in the acquisition and management of its own properties, and of participating interests in companies with real estate portfolios.
VIB Vermögen AG pursues a "develop-or-buy-and-hold" strategy. Next to the acquiring of existing real estate for the own portfolio both, project development and conception of properties are in the main focus. The VIB Group's real estate portfolio includes logistics properties, industrial plants, shopping centres and retail parks, and commercial and service centres.

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Emitter:	VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg an der Donau Germany
Contact Person:	Petra Riechert
Phone:	+49 8431 504-952
E-Mail:	petra.riechert@vib-ag.de
Website:	www.vib-ag.de
ISIN(s):	DE0002457512 (Share)
Stock Exchange(s):	Free Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart