VIB Vermögen AG: Operating revenue growth and higher consolidated net income in Q1 2013

Operating revenue at EUR 16.3 m, net income at EUR 7.4 m, adj. EBT +28 %

Neuburg/Danube (pta012/15.05.2013/08:05 UTC+2) May 15, 2013 - VIB Vermögen AG, a specialist commercial real estate portfolio management company, has made a good start to its 2013 fiscal year. Operating revenue was up by around 16.0 % to EUR 16.3 million (Q1/2012: EUR 14.0 million). The higher first-quarter revenue is attributable to additional rental income as a consequence of the previous year's lively investment activities. Including other income and expenses, this resulted in EUR 13.5 million of earnings before interest and tax (EBIT). The company consequently reported 5.8 % EBIT growth compared with the previous year's EUR 12.7 million.

Interest expenses rose from EUR 4.8 million in the first quarter of 2012 to EUR 4.9 million due to the investment activity in 2012. Interest income fell in light of the historically low interest-rate level. VIB Vermögen AG consequently generated EUR 8.8 million of earnings before tax (EBT), compared with EUR 8.0 million in the first quarter of 2012. After deducting EUR 1.4 million of corporation taxes on income (an increase compared with EUR 1.3 million in Q1 2012), the Group generated net income of EUR 7.4 million, up by around 11 % compared with the previous year's EUR 6.7 million.

Before taking valuation changes to investment properties into account, the Group achieved EUR 11.8 million of adjusted EBIT in the first three months (Q1/2012: EUR 10.3 million). Adjusted EBT stood at EUR 7.1 million (Q1/2012: EUR 5.6 million), up 28 % year-on-year, an indicator of the company's continuing high, and continuously rising, profitability.

Ludwig Schlosser, CEO of VIB Vermögen AG, identifies scope for further targeted investments: "We aim to grow sustainably in the current year, and we are constantly looking for attractive properties to strengthen our earnings base as a consequence."

The full report of VIB Vermögen AG for the first quarter of 2013 can be downloaded from today from the company's website at www.vib-ag.de.

Contact

Investor Relations:

VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg/Donau
Tel: + 49 (0)8431 504-952
Fax: + 49 (0)8431 504-973
E-mail: petra.riechert@vib-ag.de

cometis AG
Ulrich Wiehle / Patrick Ortner
Unter den Eichen 7
65195 Wiesbaden
Tel: +49 (0)611 205855-16
Fax: +49 (0)611 205855-66
E-mail: ortner@cometis.de

Profile of VIB Vermögen AG (including BBI Immobilien AG)

VIB Vermögen AG is a medium-sized real estate holding company whose investments focus on commercial properties in Southern Germany. Formed as a partnership in 1993, VIB Vermögen AG was transformed to become a German public limited company (Aktiengesellschaft) in 2000. Since then, the company has been developing its core competencies in the acquisition and management of its own properties, and of participating interests in companies with real estate portfolios.
VIB Vermögen AG pursues a "develop-or-buy-and-hold" strategy. Next to the acquiring of existing real estate for the own portfolio both, project development and conception of properties are in the main focus. The VIB Group's real estate portfolio includes logistics properties, industrial plants, shopping centres and retail parks, and commercial and service centres.

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Emitter:	VIB Vermögen AG Luitpoldstraße C 70 86633 Neuburg an der Donau Germany
Contact Person:	Petra Riechert
Phone:	+49 8431 504-952
E-Mail:	petra.riechert@vib-ag.de
Website:	www.vib-ag.de
ISIN(s):	DE0002457512 (Share)
Stock Exchange(s):	Free Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich (m:access), Stuttgart