VIB Vermögen AG
VIB Vermögen confirms positive results for the 2019 financial year
DGAP-News: VIB Vermögen AG
/ Key word(s): Annual Results/Real Estate
2019 financial results VIB Vermögen confirms positive results for the 2019 financial year – Revenue rises by 4.8 per cent to EUR 91.0 million – Adjusted EBT increases by 8.2 per cent to EUR 56.0 million Neuburg/Danube, April 30, 2020 – VIB Vermögen AG, a company specialising in the Changes in value for investment properties amounted to EUR 22.3 million in the year under review (previous year: EUR 19.5 million). Expenses for investment properties climbed to EUR 16.1 million (previous year: EUR 15.0 million). Personnel expenses at the Group rose slightly from EUR 3.7 million to EUR 3.9 million. Other operating expenses remained on a par with the previous year’s level at EUR 1.8 million (previous year: EUR 1.8 million). Sharp climb in earnings recorded Equity increased by EUR 49.7 million to EUR 577.3 million in the period to December 31, 2019 (31/12/2018: EUR 527.6 million). The equity ratio remained virtually unchanged at 42.5 per cent (31/12/2018: 42.7 per cent). Continuation of growth strategy through in-house developments Impact of the coronavirus crisis on VIB Vermögen currently manageable In the interests of continuing long-standing and successful business relations, VIB Vermögen is currently working on individual solutions with most of the tenants who are facing a direct and existential threat. In total, agreements have been concluded in an amount of some EUR 2 million; these mainly include rental deferrals, but – where legitimate exceptional circumstances apply – may also include rental waivers. “We are in close contact with affected tenants, the aim being to work together in a constructive and flexible way to find solutions that are viable and feasible for both parties against the challenging backdrop of coronavirus,” explains Martin Pfandzelter, Chief Executive Officer of VIB Vermögen AG. “In our view, this is yet another component of a sustainable and future-oriented business policy,” adds Holger Pilgenröther, Chief Financial Officer of VIB Vermögen AG. The 2019 Annual Report, as well as an up-to-date corporate presentation, is available for
VIB Vermögen AG
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.
30.04.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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: | 1033121 |
End of News | DGAP News Service |