VIB Vermoegen AG

Earnings Release • Aug 31, 2007

News Details

Corporate | 31 August 2007 09:35

VIB Vermögen AG publishes figures for H1 2007

VIB Vermögen AG / Half Year Results

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VIB Vermögen AG publishes figures for H1 2007

o Operating income up more than 50% to € 9.54 million
o EBT totals € 4.45 million (previous year: € 1.72 million)

Neuburg on the Danube, August 31, 2007 – VIB Vermögen AG, a real estate
company specializing in commercial property, continued to successfully
implement its business strategy in the first six months of 2007. Operating
income (IFRS), which mostly comprises rental income, rose to € 9.54 million
(H1 2006: € 5.90 million). This increase is primarily due to the new
investments made in 2006 and 2007. EBT totaled € 4.45 million in the first
half of the year (H1 2006: € 1.72 million), and the resulting pre-tax
margin totaled 46.7%. As a result, the company has once again proven its
high profitability and created the basis for further dynamic growth.

Total assets as of June 30, 2007 more than doubled compared to
December 31, 2006 and rose up to € 342.2 million. Non-current assets
increased at € 318.0 million (H1 2006: € 157.9 million). This is
essentially due to the growth of investment properties up to € 270.5
million (H1 2006: € 127.8 million). As the figures in 2006 are based on HGB
comparability is limited.

'We are very pleased with our growth in the first six months within which
we already have invested more than € 100 million, and are looking to the
future with optimism,' commented Managing Board member Ludwig Schlosser,
and added: 'The capital increase we implemented in April is making a
substantial contribution to our continued dynamic growth.' The Managing
Board is upholding its targets for 2007 as a whole. VIB Vermögen AG is
forecasting operating income totaling around € 20 million and pre-tax
earnings of approx. € 9 million.

The full version of the report on the first six months of 2007 can be
downloaded from the company's Web site (www.vib-ag.de) under the Investor
Relations section from August 31, 2007.

VIB Vermögen AG - profile

The VIB Vermögen AG is a medium-sized real estate holding company that
focuses its investments on commercial real estate in South Germany. Founded
in 1993 as a business partnership, the VIB was converted into a public
company in the year 2000. Since then the company has developed its core
competency in the fields of acquisition and management of its own real
estate and of investment in companies with real estate assets.
The real estate portfolio of the VIB Group comprises about 40 different
properties including both an industrial plant and an industrial estate in
Neuburg/Donau, a commercial park in Günzburg and the DonauCityCenter in
Ingolstadt. The logistics real estate parcel that was acquired in November
2006 and a retail and services centre in the commercial area of
Memmingen-Nord are also part of the VIB Group holdings. With a total
lettable area of approx. 365,000 m², the company achieves sustainable
rental yields of over 8% p. a.

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

31.08.2007 Financial News transmitted by DGAP

Language: English
Issuer: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Deutschland
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: cornelia.eissmann@vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
Indices:

End of News DGAP News-Service

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