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    VIH1   DE000A2YPDD0

VIB VERMÖGEN AG

(VIH1)
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PRESS RELEASE : VIB Vermögen AG with significant growth in revenues and earnings in the first half of 2021

08/11/2021 | 01:31am EDT
DGAP-News: VIB Vermögen AG / Key word(s): Half Year Results 
VIB Vermögen AG with significant growth in revenues and earnings in the first half of 2021 
2021-08-11 / 07:30 
The issuer is solely responsible for the content of this announcement. 
----------------------------------------------------------------------------------------------------------------------- 
Corporate news 
VIB Vermögen with significant growth in revenues and earnings in the first half of 2021 
- Revenue increases by 9.3 per cent to EUR 50.7 million in the first six months of the year 
- Adjusted EBT up significantly by 14.1 per cent to EUR 32.7 million 
- Outlook confirmed for the year as a whole 
Neuburg/Danube, 11 August 2021 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio 
management of commercial properties, continued to improve its financial performance indicators in the first half of 
2021. 
Revenue rose by 9.3 per cent from EUR 46.4 million in the same period of the previous year to EUR 50.7 million. 
Corona-related rental waivers remained at a low level and decreased from EUR 0.3 million in the previous year to EUR 
0.2 million. Adjusted EBT improved significantly by 14.1 per cent in the first half of 2021, climbing from EUR 28.7 
million to EUR 32.7 million. Consolidated net income rose by 8.1 per cent year-on-year, from EUR 29.0 million to EUR 
31.4 million. 
Funds from operations (FFO) from letting activities increased by 13.5 per cent year-on-year to some EUR 28.5 million. 
FFO per share improved accordingly by 12 euro cents to EUR 1.03. In the reporting period, diluted and undiluted NAV 
(net asset value) rose to EUR 699.2 million (December 31, 2020: EUR 666.3 million). NAV per share therefore rose from 
EUR 24.16 to 
EUR 25.35. 
Rental agreements for three properties with a total usable area of some 62,000 m² were extended at the beginning of the 
year. Two in-house developments in Eslarn and Interpark near Ingolstadt were also added to the portfolio. They 
contribute with a lettable area of 16,500 m² to the result as of 1 April 2021. Rental income for the property in 
Ehningen, which has a lettable area of 9,100 m², will also make a positive contribution to earnings. The land pipeline 
was expanded with the addition of 63,000 m² of land in Meitingen. The future lettable area has been estimated at around 
25,000 m², so VIB Vermögen AG increased its property pipeline to a potential usable area of some 138,000 m². 
"The first half-year 2021 was again highly successful for our company. All three pillars of our business model 
contributed to this success. Significant extensions to rental agreements, portfolio additions and the expansion of our 
land pipeline all contribute to our sustainable, profitable corporate growth. We can therefore look to the future with 
optimism", said Martin Pfandzelter CEO of VIB Vermögen AG. 
On the basis of the results to date - and subject to the assumption that there will be no significant deterioration in 
the economic situation in the second half of 2021, due to further lockdowns, for example - the Managing Board of VIB 
Vermögen AG confirms the outlook for the 2021 financial year published in the 2020 Annual Report. 
The full 2021 half-year report can be accessed at www.vib-ag.de. 
Contact 
Investor Relations: 
VIB Vermögen AG 
Petra Riechert Tel.: +49 (0)8431 9077 952 
Tilly-Park 1 Fax: +49 (0)8431 9077 929 
86633 Neuburg/Danube, Germany Email: petra.riechert@vib-ag.de 
About VIB Vermögen AG 
VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating 
successfully for more than 25 years. It 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. 
----------------------------------------------------------------------------------------------------------------------- 
2021-08-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
----------------------------------------------------------------------------------------------------------------------- 
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:       petra.riechert@vib-ag.de 
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:  1225416 
 
End of News   DGAP News Service 
------------- 

1225416 2021-08-11

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1225416&application_name=news

(END) Dow Jones Newswires

August 11, 2021 01:30 ET (05:30 GMT)

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Financials
Sales 2021 99,0 M 115 M 115 M
Net income 2021 65,3 M 75,8 M 75,8 M
Net Debt 2021 747 M 867 M 867 M
P/E ratio 2021 17,5x
Yield 2021 1,96%
Capitalization 1 140 M 1 322 M 1 323 M
EV / Sales 2021 19,1x
EV / Sales 2022 18,5x
Nbr of Employees 46
Free-Float 93,6%
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 41,35 €
Average target price 37,08 €
Spread / Average Target -10,3%
EPS Revisions
Managers and Directors
Martin Pfandzelter CEO & Chairman-Management Board
Holger Pilgenröther Chief Financial Officer
Ludwig Schlosser Chairman-Supervisory Board
Peter Njuguna Chief Information Officer
Henry Karanja Head-Compliance