VIB Vermögen AG: VIB Vermögen AG reports significant revenue and earnings growth in Q1 2012

Revenue up by 8 % to EUR 13.9 million, EBT improve 70 % to EUR 8.0 million

Neuburg/Danube (pta006/15.05.2012/07:35 UTC+2) May 15, 2012 - VIB Vermögen AG, a specialist commercial real estate portfolio management company, has published its results for the first quarter of 2012. The company generated EUR 13.9 million of consolidated revenue in the first three months of 2012, on the basis of IFRS accounting. This represents around 8 % growth compared with the previous year's figure of EUR 12.9 million. This growth was due to additional rental income generated by investments realised in the previous year.

The company generated earnings before interest and tax (EBIT) of EUR 12.7 million (previous year: EUR 9.4 million). Valuation changes to investment properties of EUR 2.4 million, which arise from the value appreciation of recently acquired properties, contributed to the significant growth of around 35 % year-on-year.

The financial result of EUR -4.7 million was almost unchanged compared with the prior-year period. As a consequence, VIB Vermögen AG generated EUR 8.0 million of earnings before tax, representing almost 70 % growth compared with the previous year's EUR 4.7 million. The pre-tax margin stood at 57.2 % (previous year: 35.2 %). After deducting taxes on income EUR -1.3 million (previous year: EUR -0.8 million), consolidated net income amounted to EUR 6.7 million, a 68 % increase compared with the first quarter of the previous year (previous year: EUR 4.0 million).

Ludwig Schlosser, CEO of VIB Vermögen AG, expressed his pleasure with the positive trend: "We are very satisfied with the course of business during the first quarter. Most of last year's investments contributed to rental income for the first time during the first months of 2012, sustainably strengthening our earnings base." Peter Schropp, the VIB Vermögen AG Managing Board member responsible for the real estate area, identifies further growth potential: "We aim to continue to strengthen our real estate portfolio this year with targeted investments that will continue to enable us to generate rental yields at cost of around 8 %." Due to the positive business trend, the Managing Board is confirming its forecast for the 2012 fiscal year.

The complete first-quarter interim announcement can be downloaded from the company's website at www.vib-ag.de, within the Investor Relations area.

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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, Stuttgart