VIB Vermoegen AG

Earnings Release • May 11, 2011

News Details

Corporate | 11 May 2011 07:56

VIB Vermögen AG makes positive start to the 2011 fiscal year

VIB Vermögen AG / Key word(s): Quarter Results/Miscellaneous

11.05.2011 / 07:56

• Revenues of EUR 12.9 million
• Earnings before tax (EBT) of EUR 4.7 million, and consolidated net income
  of EUR 4.0 million
• Managing Board proposes EUR 0.30 dividend to AGM
• Distribution approximately 45% tax-free

Neuburg/Danube, May 11, 2011 - VIB Vermögen AG, a company specialising in
commercial real estate portfolio management, generated revenues of
EUR 12.9 million at Group level in the first three months of 2011 on an
IFRS accounting basis. When taking into account EUR 0.5 million of other
operating income, the VIB Group generated total operating income of around
EUR 13.4 million. After deducting operating costs, earnings before interest
and tax (EBIT) stood at EUR 9.4 million. This generated an approximately
70% EBIT margin, which is above the sector average and reflects the high
profitability of this real estate company based at Neuburg/Danube, Germany.
Interest expenses totalled EUR 4.7 million in the first three months of
2011, thereby allowing the VIB Group to generate pre-tax earnings of EUR
4.7 million.

After deducting taxes on income, the VIB Group's consolidated earnings
amounted to around EUR 4.0 million for the first three months of 2011.

Ludwig Schlosser, CEO of VIB Vermögen AG, was correspondingly satisfied
with the promising trend in the first quarter of 2011: 'A further
improvement in the macroeconomic environment allowed us to successfully
continue the last few years' operating success story. We have achieved a
further profitability enhancement compared with the 2010 record year, when
we generated a 67.8% EBIT margin. We would very much like our shareholders
to participate in this positive development. For this reason, we will
propose to the AGM to be held on July 7, 2011 that a dividend of EUR 0.30
per share be paid. The tax-free portion of the dividend will amount to
around 45%.'

In the assessment of Managing Board member Peter Schropp, who is
responsible for the real estate area at VIB Vermögen AG, there are grounds
for further optimism with respect to the current business year: 'We enjoy
the best preconditions to achieve a further record year in 2011 with our
highly profitable portfolio that currently comprises 86 properties, and a
total rentable area of around 661,500 m². We aim to place a greater
strategic focus on targeted acquisitions in order to secure attractive
returns also on a prospective basis, while at the same time maintaining our
existing, stability-oriented financing structure. We anticipate total
revenues of EUR 52 million for 2011. We also aim to boost earnings before
interest and tax (EBIT) to around EUR 36 million, and pre-tax earnings to
approximately EUR 18 million.

The complete interim announcement for the first quarter of 2011 can be
downloaded from the company's website at www.vib-ag.de, within the Investor
Relations area.

Contact

Investor Relations:

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

cometis AG
Stefan Kemmerer Tel: +49 (0)611 205855-21
Unter den Eichen 7 Fax: +49 (0)611 205855-66
65195 Wiesbaden E-mail: kemmerer@cometis.de

Profile of VIB Vermögen AG

VIB Vermögen AG (WKN 245751 / ISIN DE0002457512) 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 an Aktiengesellschaft (German public limited company)
in 2000. Since then, the company has developed core competences in the
acquisition and management of its own properties and participating
interests in companies with real estate portfolios.
The VIB Group pursues a buy-and-hold strategy. It both develops properties
for its own portfolio and also acquires existing properties. The VIB
Group's real estate portfolio includes various logistics properties and
industrial facilities, shopping and specialist retail centers as well as
commercial and service centers. The VIB Group generates sustainable rental
returns with a total rental area of approx. 661,500 m².

End of Corporate News

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Language: English
Company: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Deutschland
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: petra.riechert@vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Open Market in Frankfurt

End of News DGAP News-Service

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