Corporate | 30 April 2008 14:56
VIB Vermögen AG / Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- Total investment volume EUR 22.7 million
- Optimistic outlook for fiscal year 2008
- 2007 annual report online from today
Neuburg/Donau, April 30, 2008 – VIB Vermögen AG, a company specializing in
portfolio management for commercial properties, has further expanded its
portfolio by adding five properties located in Southern Germany. Logistic
centers and truck service stations will be built on the land acquired in
the first quarter of 2008 with a total area of around 84,900 m². Through
these investments with a total volume of EUR 22.7 million the company has
opened up additional growth potential.
Ludwig Schlosser, VIB Vermögen AG's CEO, believes that the company's market
position has been reinforced: 'We have already been able to fully let three
of these five properties with long-term leases with terms of between 10 and
22 years. For another property the rental agreement is expected to be
concluded soon. The fifth property is already 50% let, and we are in
advanced negotiations with interested tenants.' The properties are planned
to be completed during the course of 2008, with the result that the
Managing Board is forecasting a further increase in VIB’s rental income.
The new investments have an average rental yield of 8.2%.
In addition, Mr. Schlosser underscored the excellent perspectives for the
current fiscal year: 'We are very confident for 2008.' As a result, the
company is forecasting EBIT to grow to EUR 42.5 million. EBT is expected to
increase to EUR 17 million.
The VIB Group was already able to significantly exceed its forecasts in
2007. VIB Vermögen AG’s full annual report for 2007 is available at the
company’s Web site (www.vib-ag.de) under the Investor Relations section as
of April 30, 2008.
Profile of the VIB Vermögen AG (including BBI):
The VIB Vermögen AG is a medium-sized real estate holding company that
focuses its investments on commercial real estate in South Germany. Founded
in 1993 as a business partnership, the VIB was converted into a public
company in the year 2000. Since then the company has developed its core
competency in the fields of acquisition and asset management of its own
real estate and of investment in companies with real estate assets. The VIB
Vermögen AG operates a ‘buy and hold’ strategy. This entails developing
real estate for its own portfolio and also acquiring existing properties.
The real estate portfolio of the VIB Group comprises various logistics
properties and industrial facilities, shopping and specialist retail
centres and also commercial and service centres. The company achieves
sustainable rental yields from a total lettable area of approximately
500,000 m².
Contact
Investor Relations:
VIB Vermögen AG
Petra Riechert
Luitpoldstr. C70
86633 Neuburg
Tel: +49 (0)8431 504 952
Fax: +49 (0)8431 504 973
E-mail: petra.riechert@vib-ag.de
30.04.2008 Financial News transmitted by DGAP
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Language: English
Issuer: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Deutschland
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: cornelia.eissmann@vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
End of News DGAP News-Service
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