VIB Vermögen AG: VIB Vermögen AG publishes final 2012 results and 2013 outlook

Forecast:operating revenue EUR 63-64 mio.,EBIT EUR 46-47 mio.,EBT EUR 26-27 mio.

Neuburg/Danube (pta006/18.04.2013/08:00 UTC+2) April 18, 2013 - VIB Vermögen AG, a specialist commercial real estate portfolio management company, has published its final 2012 results. In line with the preliminary results, IFRS operating revenue increased to EUR 60.5 million compared with EUR 53.1 million in 2011. The company reported a significant rise in EBIT from EUR 38.5 million to EUR 49.8 million, with EBT increasing by almost 60 % to EUR 30.3 million (2011: EUR 18.9 million). Consolidated net income was up by EUR 10.1 million to EUR 25.3 million in 2012. Earnings per share (undiluted) amounted to EUR 1.08 last year (2011: EUR 0.76). Total assets grew significantly to EUR 788.1 million in the 2012 fiscal year due to investment activity (previous year: EUR 686.8 million). This is on the one hand reflected in significantly increased investment properties, which stood at EUR 748.6 million and were up by EUR 95.8 million. On the other hand it is reflected in a higher level of both financial debt and equity. The equity ratio fell correspondingly by 0.5 percentage points to 34.6 %, while remaining at a high level, and the LTV ratio rose from 57.6 % to 58.3 %.

The funds from operations (FFO) metric, which is important to the VIB Group as a measure of operating cash inflows from the real estate business, amounted to EUR 1.02 per share in the fiscal year elapsed (previous year: EUR 0.95). The high value retention of the real estate portfolio is reflected in the net asset value (NAV) of EUR 13.07 per share (previous year: EUR 12.22).

Given the successful course of the 2012 fiscal year, the Managing Board of VIB Vermögen AG will propose to the AGM to be held on July 3, 2013 that it distributes a EUR 0.40 dividend per share. This would correspond to an increase by approx. 14 % compared with the previous year's EUR 0.35 dividend. The tax-liable portion of the dividend amounts to 79.4 %, with the tax-free amount standing at 20.6 %.

Ludwig Schlosser, CEO of VIB Vermögen AG, emphasises the positive aspects of the strong investment activity in 2012: "The investments in high-yielding properties that we realised last year will feed through to additional revenue and rising earnings this year. As a consequence, we expect operating revenue of around EUR 63 million to EUR 64 million, earnings before interest and tax (EBIT) between EUR 46 million and EUR 47 million, and pre-tax earnings in a range of between EUR 26 million and EUR 27 million, in each case before valuation effects." The Managing Board member responsible for the real estate area at VIB Vermögen AG, Peter Schropp, identifies scope for further investments in the 2013 fiscal year: "Our regional network, and the funds from issuing the mandatory convertible bond and from the sale of the "Gewerbepark Günzburg" property will allow us to again invest in attractive commercial properties on a targeted basis in the 2013 fiscal year."

The annual report including the complete set of consolidated financial statements for VIB Vermögen AG for 2012 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, both developing properties for its own portfolio and acquiring existing real estate. 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