DGAP-News: VIB Vermögen AG / Key word(s): Annual Results 30.04.2019 / 07:30 2018 financial results VIB Vermögen confirms record result and plans further dividend increase – Revenue rises by 3.9 per cent to EUR 86.8 million – Adjusted EBT grows by 9.9 per cent to EUR 51.7 million – Tenth consecutive dividend increase proposed – Revenue and earnings growth set to continue in 2019
Neuburg/Danube, April 30, 2019 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, closed its 25th anniversary year with an outstanding set of results. The interim IFRS consolidated figures for the 2018 financial year, which have already been published, have thus been confirmed. During the reporting period, revenue rose by 3.9 per cent to EUR 86.8 million (previous year: EUR 83.6 million). This increase is chiefly attributable to higher rental incomes from properties that were completed during the 2018 financial year. Furthermore, the properties handed over to their tenants during the 2017 financial year – and which now generated a full year’s rental income for the first time – made a significant revenue contribution. Positive changes in value for investment properties amounted to EUR 19.5 million in reporting period (previous year: EUR 17.4 million). Expenses for investment properties climbed to EUR 15.0 million (previous year: EUR 13.8 million). Personnel expenses at the Group rose slightly from EUR 3.6 million to EUR 3.7 million. Other operating expenses, on the other hand, remained on a par with the prior-year level at EUR 1.8 million. Sharp climb in earnings Equity reached EUR 527.6 million as of December 31, 2018. This equates to a rise of EUR 44.2 million compared to the balance sheet date of the previous year (31/12/2017: EUR 483.4 million). The equity ratio also rose again and stood at 42.7 per cent as of the end of 2018 (31/12/2017: 41.9 per cent). “VIB Vermögen celebrated its 25th anniversary in the 2018 financial year. The results achieved in the reporting period offer further cause for celebration. At the same time, they represent an endorsement of the strategy underpinning our business model, which draws on in-house developments and the acquisition of existing properties as the keys to sustainable and targeted growth,” remarks Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. Further improvement in key property portfolio figures Further dividend increase planned “We are delighted that we can once again enable our shareholders to benefit from our success; together with the Supervisory Board, we will be proposing a dividend increase to the Annual General Meeting for the tenth time in a row. We are also confident that we will be able to further increase our key financial indicators in the current year,” explains Holger Pilgenröther, Chief Financial Officer of VIB Vermögen. Profitable growth set to continue in 2019 The 2018 Annual Report, as well as a current corporate presentation, are available for download at www.vib-ag.de. Contact Investor Relations: VIB Vermögen AG About VIB Vermögen AG VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for 25 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.
30.04.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | VIB Vermögen AG |
Tilly-Park 1 | |
86633 Neuburg/Donau | |
Germany | |
Phone: | +49 (0)8431 / 9077 952 |
Fax: | +49 (0)8431 / 9077 973 |
E-mail: | ed.ga-biv@trehceir.artep |
Internet: | www.vib-ag.de |
ISIN: | DE0002457512 |
WKN: | 245751 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange |
EQS News ID: | 804331 |
End of News | DGAP News Service |