DGAP-News: VIB Vermögen AG: VIB Vermögen increases gross rental income and doubles profit for the periodEQS
Im Artikel erwähnte Wertpapiere: VIB Vermögen AG
DGAP-News: VIB Vermögen AG
/ Key word(s): Half Year Results
Half-year results 2022
VIB Vermögen increases gross rental income and doubles profit for the period
Neuburg/Danube, August 2, 2022 – VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, was able to further improve its key financial figures in the first half of 2022 despite the challenging market environment. The gross rental income generated in the amount of EUR 46.6 million marks the highest level that has been achieved within a half-year in the company's almost 30-year history.
This increase of 5.2 percent (previous year period: EUR 44.2 million) is attributable to the additional rental income from the properties added to the portfolio during the reporting period. Annualized net rental amounts to around EUR 92.1 million. At the same time, the vacancy rate at Group level remained at a pleasingly low level of 1.4 percent. As of the balance sheet date on June 30, 2022, VIB Vermögen AG's portfolio included 106 commercial properties with a leasable area of just under 1.3 million square meters.
Earnings and equity at record levels
Equity grew by EUR 35.7 million since year-end 2021 to EUR 635.3 million as of June 30, 2022 (December 31, 2021: EUR 599.6 million). The equity ratio increased to 45.0 percent as of the balance sheet date on June 30, 2022 (December 31, 2021: 42.3 percent).
Value of real estate portfolio increased further
Funds from operations (FFO), as an indicator of the company's operating cash flows, increased by 10.3 percent from EUR 28.5 million to EUR 31.4 million in the first half of the year. Accordingly, FFO per share also improved from EUR 1.03 to EUR 1.13.
During the reporting period, a number of milestones were achieved which will contribute to VIB Vermögen AG's further growth in future. In January 2022, the extension of a logistics property in Schwäbisch Gmünd was completed and handed over on schedule, increasing the total usable space of the logistics property by 6,100 square meters to 22,500 square meters. In the course of the expansion, the lease contract was also extended to seven years.
In February 2022 the starting signal was given for the marketing of one of the largest development projects of VIB in recent years. The construction of the "NEXT HORIZON" project with a total usable area of around 79,000 square meters is planned on the 215,000 square meters site in Erding. The commercial space is suitable for a wide variety of uses. Three office buildings with a total area of 15,700 square meters are planned, as well as five construction fields with building areas for logistics/light industry-related development of 2,100 to 30,300 square meters . In addition, a parking garage with over 700 parking spaces is planned, which can gradually supply around 50% of the parking spaces with charging capacity and thus fully meet the requirements in terms of electromobility. The properties will be built in accordance with the strict criteria for achieving DGNB Gold sustainability certification. The heat supply via district heating will contribute to this.
Project pipeline grows to a total usable space of around 156,000 square meters
"I am very pleased to report that we continued our growth trajectory in the second quarter of this year 2022 and are moving forward with several lucrative projects with approximately 156,000 square feet of usable space from our pipeline. The revaluation of our portfolio in the second quarter of 2022 impressively demonstrates the high quality of our buildings and the expertise of our property managers, who create value on a daily basis. In addition, the integration of VIB Vermögen AG into the DIC Asset Group is proceeding smoothly and according to plan, not least thanks to the great commitment of the employees," said Dirk Oehme, CFO of VIB Vermögen AG.
Forecast for 2022 foresees further growth
The 2022 half-year report and a current company presentation are available for download at www.vib-ag.de.
VIB Vermögen AG
Petra Riechert Tel. : + 49 (0)8431 9077-952
Tilly Park 1 Fax: + 49 (0)8431 9077-929
86633 Neuburg/Danube E-Mail: email@example.com
Profile of the VIB Vermögen AG
VIB Vermögen AG is a medium-sized company specializing in the management of commercial real estate portfolios, which has been operating successfully for 25 years. The focus is on properties in 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: On the one hand, VIB acquires properties that have already been let, and on the other hand, it develops new properties from scratch in order to take them over permanently into its own portfolio and generate rental income from them. In addition, VIB holds interests in companies with real estate assets.
02.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||VIB Vermögen AG|
|Phone:||+49 (0)8431 / 9077 952|
|Fax:||+49 (0)8431 / 9077 973|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||1410673|
|End of News||DGAP News Service|