VIB Vermoegen AG

Earnings Release • Nov 18, 2010

News Details

Corporate | 18 November 2010 07:30

VIB Vermögen AG enjoys continued positive operating growth

VIB Vermögen AG / Key word(s): Interim Report

18.11.2010 07:30

• Revenues total EUR 38.2 million
• EBT of EUR 10.0 million, consolidated earnings of EUR 12.2 million
• Forecast for 2010 as a whole confirmed thanks to positive business
• VIB Group increases transparency by publishing Interim report for the
  first nine months 2010

Neuburg/Danube, November 18, 2010 - VIB Vermögen AG, a company specializing
in managing commercial properties, recorded consolidated revenues (IFRS) of
EUR 38.2 million in the first nine months of 2010. Taking other operating
income of EUR 0.9 million into account, and a non-cash adjustment to the
value of investment properties in the amount of EUR -2.4 million, the group
thus recorded operating income totaling EUR 36.6 million. After deducting
operating costs, EBIT totaled EUR 25.3 million. Interest expenses totaled
EUR 14.5 million, and the VIB Group thus recorded EBT of EUR 10.0 million.

Extraordinary income tax factors led to positive income taxes of EUR 1.9
million. As a result, the VIB Group recorded consolidated earnings of EUR
12.2 million. This corresponds to earnings per share of EUR 0.67.

Peter Schropp, member of the Management board of VIB Vermögen AG, believes
that the successful business growth in the first nine months of 2010
confirms the Group's strategic orientation: 'Our real estate portfolio is
characterized by its strong income and a broad and balanced risk spread. In
addition, we benefit from a low vacancy rate and what tend to be long-term
leases, which means that it is easy to forecast future cash flows.' Ludwig
Schlosser, CEO of VIB Vermögen AG, complements: 'We will continue our buy
and hold strategy, which takes strict investment criteria into account, and
we will continue to focus on the high-growth Southern German market, as was
also the case in the past. This will provide the foundations for
forecastable, attractive income in future. In view of the acquisitions made
in 2009, which will contribute to the company's earnings in full for the
first time this fiscal year, we are forecasting a further increase in
revenues and income in the Real Estate segment in 2010 as a whole. That is
why we have confirmed the forecasts we already published.'

The full Interim report for the second half of 2010 can be downloaded from
www.vib-ag.de ('Investor Relations' section).

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. 645,000 m².

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

cometis AG
Ulrich Wiehle Phone: +49 (0)611 205855-11
Unter den Eichen 7 Fax: +49 (0)611 205855-66
65195 Wiesbaden E-mail: wiehle@cometis.de

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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 Hamburg, München (m:access), Berlin,
Düsseldorf, Stuttgart; Open Market in Frankfurt

End of Announcement DGAP News-Service

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