Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. VIB Vermögen AG
  6. News
  7. Summary
    VIH1   DE000A2YPDD0

VIB VERMÖGEN AG

(VIH1)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

VIB Vermoegen : Vermögen increases revenue and earnings in the first half of 2020 thanks to profitable in-house developments

08/07/2020 | 01:35am EDT

DGAP-News: VIB Vermögen AG / Key word(s): Half Year Results
VIB Vermögen increases revenue and earnings in the first half of 2020 thanks to profitable in-house developments

07.08.2020 / 07:30
The issuer is solely responsible for the content of this announcement.


Corporate news

VIB Vermögen increases revenue and earnings in the first half of 2020 thanks to profitable in-house developments

- Revenue increases by 2.9 per cent to EUR 46.4 million in the first six months of the year

- Adjusted EBT climbs by 3.7 per cent to EUR 28.7 million

- Logistics property with 7,500 m² of warehouse and office space completed for Amazon

- Forecast confirmed for the whole year

Neuburg/Danube, August 7, 2020 - VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has once again
continued its growth trajectory in the first half of 2020.

During the reporting period, which includes the effects of the rental deferrals and waivers granted as a result of the Covid-19 pandemic, revenue rose by 2.9 per cent year-on-year, from EUR 45.1 million to EUR 46.4 million. EBT improved by 15.5 per cent in the first half of 2020, climbing from EUR 29.9 million to EUR 34.6 million. This increase was also influenced by the positive valuation result of EUR 5.9 million, which, in particular, is due to changes in the value of current in-house developments. When adjusted for valuation results, EBT increased by approximately EUR 1 million, or 3.7 per cent, from EUR 27.7 million to EUR 28.7 million. Consolidated net income climbed by 16.0 per cent year-on-year, from EUR 25.1 million to EUR 29.1 million.

"We are pleased that our in-house developments, which have thus far all been completed on time and on budget, are contributing to the continuous and profitable growth of the company. In these challenging times, it is also clear that our focus on the logistics sector enables further growth," says Holger Pilgenröther, Chief Financial Officer of VIB Vermögen AG.

Funds from operations (FFO) from letting activities increased by 4.1 per cent year-on-year to some EUR 25.1 million. FFO per share improved accordingly by 4 euro cents to EUR 0.91.
In the reporting period, diluted and undiluted NAV (net asset value according to the definition of the European Public Real Estate Association [EPRA]) rose to EUR 643.7 million (December 31, 2019: EUR 612.9 million). NAV per share therefore rose from EUR 22.23 to EUR 23.34.

New addition to the portfolio after June 30, 2020
The development project for Amazon in Gersthofen, near Augsburg, was completed and handed over to the tenant at the beginning of July, four weeks ahead of schedule. Therefore, this project is not included in the indicators contained within the half-year report. A logistics facility with 7,500 m² of warehouse and office space has been developed at the site, which boasts superb infrastructure links. In addition to the warehouse and office space, the long-term rental agreement also covers large undeveloped areas for delivery vehicles.

"In terms of sustainability, we are particularly pleased that preparatory investments have
already been made so that, if necessary, the entire fleet can be served with sufficient charging capacity for electric vehicles," explains Martin Pfandzelter, Chief Executive Officer of VIB
Vermögen AG. "The installation of a photovoltaic system on the roof of the logistics building is also part of our sustainability strategy."

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 2020, such as due to a second lockdown - we confirm the forecast for the 2020 financial year published in the 2019 Annual Report.

The full 2020 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.



07.08.2020 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: 1112227

 
End of News DGAP News Service

1112227  07.08.2020 

fncls.ssp?fn=show_t_gif&application_id=1112227&application_name=news&site_id=zonebourse

© EQS 2020
All news about VIB VERMÖGEN AG
08/11VIB VERMÖGEN : Vermögen with significant growth in revenues and earnings in the ..
PU
08/11VIB Vermögen AG Announces Consolidated Earnings Results for the Half Year End..
CI
08/11VIB VERMOEGEN : Vermögen AG with significant growth in revenues and earnings in ..
EQ
08/11PRESS RELEASE : VIB Vermögen AG with significant growth in revenues and earnings..
DJ
08/11VIB Vermögen Confirms the Outlook for the 2021 Financial Year
CI
07/28VIB VERMÖGEN : More than 30 percent of shareholders opt for the first-time offer..
PU
07/28VIB VERMÖGEN AG : More than 30 percent of shareholders opt for the first-time of..
EQ
07/28PRESS RELEASE : VIB Vermögen AG: More than 30 percent of shareholders opt for th..
DJ
07/02VIB VERMÖGEN AG : Ex-dividend day for final dividend (optional)
FA
07/02VIB VERMÖGEN AG : Ex-dividend day for final dividend
FA
More news
Analyst Recommendations on VIB VERMÖGEN AG
More recommendations
Financials
Sales 2021 99,0 M 116 M 116 M
Net income 2021 67,1 M 78,7 M 78,7 M
Net Debt 2021 747 M 876 M 876 M
P/E ratio 2021 15,3x
Yield 2021 2,19%
Capitalization 1 020 M 1 198 M 1 196 M
EV / Sales 2021 17,9x
EV / Sales 2022 17,4x
Nbr of Employees 46
Free-Float 93,6%
Chart VIB VERMÖGEN AG
Duration : Period :
VIB Vermögen AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VIB VERMÖGEN AG
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 37,00 €
Average target price 37,08 €
Spread / Average Target 0,23%
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