DGAP-News: VIB Vermögen AG
/ Key word(s): Preliminary Results
Preliminary results 2021
VIB Vermögen AG achieves record results
- Revenues increase by 10.2 percent to EUR 103.8 million
- Adjusted earnings before taxes (EBT) rise by 15.6 percent to EUR 66.7 million
- Group profit grows by 128.5 percent to EUR 153.7 million
- Dividend proposal for thirteenth consecutive increase to EUR 0.85 per share
- Forecast for fiscal year 2022 envisages further growth
Neuburg/Danube, March 23, 2022 - According to preliminary calculations, VIB Vermögen AG, a company specializing in the development, acquisition and portfolio management of commercial properties, was able to increase its revenues and earnings considerably in fiscal year 2021. Compared to the same period of the previous year, revenues increased by 10.2 percent from EUR 94.2 million to EUR 103.8 million as a result of additional rental income.
Group earnings reach record level of EUR 153.7 million
Further growth in value of real estate portfolio
The positive change in value of investment properties increased significantly to EUR 108.2 million (previous year: EUR 22.3 million). At the same time expenses for investment properties fell to EUR 16.6 million (previous year: EUR 17.4 million) and group personnel expenses increased from EUR 4.2 million to EUR 4.5 million. Other operating expenses increased by 13.7 percent to EUR 2.1 million (previous year: EUR 1.9 million). Furthermore, funds from operations (FFO), as an indicator of the company's operating cash inflows, increased by 15.3 percent year-on-year from EUR 1.83 to EUR 2.11 per share.
A look at the balance sheet shows how solidly VIB Vermögen is positioned: Equity reached around EUR 762.0 million on December 31, 2021 (December 31, 2020: EUR 625.2 million). The equity ratio on the balance sheet date 2021 was 47.4 percent (December 31, 2020: 43.0 percent).
Thirteenth consecutive dividend increase planned
"We are very pleased that, despite the more difficult conditions caused by the pandemic, we once again succeeded in further increasing all key figures in the past fiscal year and achieving a record result. We have thus impressively demonstrated that our business model allows us to grow profitably and crisis-resistant on a sustained basis, and that the company is excellently positioned for the future," commented Holger Pilgenröther, CFO of VIB Vermögen AG.
Forecast 2022 foresees further growth
The Company will publish its final results for 2021 fiscal year together with the Annual Report 2021 on April 27, 2022. A corporate presentation with further details on the preliminary 2021 financial results is available at www.vib-ag.de.
VIB Vermögen AG
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.
23.03.2022 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:||1309101|
|End of News||DGAP News Service|