VIB Vermögen AG: VIB Vermögen AG achieves significant revenue and earnings growth in first nine months of 2014

Neuburg/Danube (pta005/12.11.2014/07:30 UTC+1) - Total operating revenue up 8.6 % to EUR 52.3 million
- Adjusted EBIT grows disproportionately 18.5 % to EUR 24.2 million
- More than EUR 38 million of promising investments in existing properties and company's own development projects

Neuburg/Danube, November 12, 2014 - VIB Vermögen AG, a company that specialises in the portfolio management and proprietary development of commercial real estate in the Southern German region, continued its strong growth in the third quarter of 2014. VIB Vermögen AG generated EUR 51.7 million of revenue during the first nine months of the year (9M previous year: EUR 47.9 million). This 8.0 % year-on-year growth arose particularly from the successful continuation of the company's acquisition and investment strategy: VIB Vermögen invested around EUR 38 million in high-yielding properties in the period under review. Total operating revenue amounted to EUR 52.3 million during the first nine months (9M previous year: EUR 48.2 million).

Earnings before interest and tax (EBIT) were up by 10.1 % to EUR 40.5 million (9M previous year: EUR 36.8 million). Despite the investments that were realised, the interest expense rose only slightly to EUR 15.4 million due to ongoing loan redemptions and more favourable refinancing (9M previous year: EUR 15.0 million). As a consequence, earnings before tax (EBIT) improved by 9.3 % year-on-year to reach EUR 25.2 million (9M previous year: EUR 23.0 million). Consolidated net income of EUR 21.3 million was 10.1 % ahead of the results during the prior-year period of EUR 19.3 million. Earnings per share grew by 1.3 % to EUR 0.81 (9M previous year: EUR 0.80).

Excluding measurement effects and extraordinary items, VIB Vermögen AG generated EUR 24.2 million of adjusted EBT during the first nine months of the current financial year (9M previous year: EUR 20.4 million). This further increase of 18.6 % reflects the operating profitability of the company's portfolio. The 8.9 % growth in FFO per share (funds from operations) to EUR 0.86 (9M previous year: EUR 0.79) underscores the cash flow strength of the business model.

Given these good nine-month results, the management of VIB Vermögen AG is confirming its existing forecast for the full 2014 year, anticipating revenue to lie between EUR 69.0 million and EUR 72.0 million, EBIT between EUR 50.5 million and EUR 52.0 million, and EBT between EUR 29.0 million and EUR 30.5 million (in each case before measurement effects and extraordinary items).

Ludwig Schlosser, CEO of VIB Vermögen AG, emphasises the importance of the portfolio strategy in the light of the company's development: "Our sustainable growth and the high level of profitability of our portfolio are the result of our strategy of positioning ourselves as a strong partner to the growth sectors of logistics and retailing through both our own property developments and the acquisition of attractive real estate. We are continuing to pursue this path with consistency: since September, for example, we have been developing a further logistics centre in Ingolstadt with an investment volume of around EUR 34 million and an expected rental yield of about 8.7 %. Once this property has been handed over to the tenant, it will permanently strengthen our portfolio, allowing us to boost our revenue and earnings further."

The full report for the first nine months 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 / Mark Appoh
Unter den Eichen 7
65195 Wiesbaden
Phone: +49 (0)611 205855-21
Fax: +49 (0)611 205855-66
Email: appoh@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