DGAP-News: VIB Vermögen AG publishes final 2010 FY figures and 2011 forecast
(firmenpresse) - DGAP-News: VIB Vermögen AG / Key word(s): Final Results/Forecast
VIB Vermögen AG publishes final 2010 FY figures and 2011 forecast
12.04.2011 / 09:04
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- Total operating revenue of EUR 52.3 million
- Earnings before interest and tax (EBIT) of EUR 35.4 million and earnings
before tax (EBT) of EUR 12.8 million underscore high profitability
- 2011 forecast: revenues of around EUR 52 million, EBIT of approximately
EUR 36 million, EBT of around EUR 18 million before valuation effects
Neuburg/Donau, April 12, 2011 - VIB Vermögen AG, a company specialising in
managing commercial real estate portfolios, has reported a marked
improvement in both revenue and earnings according to final figures for the
2010 financial year. The real estate company, which is based at Neuburg on
the Danube, Germany, generated total operating revenues of EUR 52.3 million
on the basis of the IFRS accounting. This represents an increase of around
8.5% compared with the previous year's figure of EUR 48.2 million. Earnings
before interest and tax (EBIT) amounted to EUR 35.4 million after deducting
all operating costs (previous year: EUR 33.8 million). Both these earnings
and the consolidated earnings before tax of EUR 12.8 million underscore the
company's high profitability (previous year: EUR 14.4 million).
In sum, VIB Vermögen AG generated consolidated net income of EUR 16.9
million in the reporting year. This exceeds the previous year's figure of
EUR 12.3 million by around 37%. The net retained profits in the separate,
single-entity financial statements of VIB Vermögen AG, which are relevant
for the dividend distribution, amounted to EUR 5.3 million (previous year:
EUR 4.4 million). In view of this performance, the Management and
Supervisory boards are proposing to the General Meeting to increase the
previous year's dividend of EUR 0.25 to EUR 0.30 per share.
The promising start to the current business year enables the Management
Board to issue a forecast for the 2011 financial year. Ludwig Schlosser,
CEO of VIB Vermögen AG, anticipates a further stable business year: 'Due to
the positive operating trends, we are assuming that we will generate
revenues of EUR 52 million over the full 2011 year.' Peter Schropp, who is
responsible on the Management Board for the Real Estate segment, went on to
add: 'Our declared objective is to further improve the earnings position.
We expect earnings before interest and tax (EBIT) of around EUR 36 million
for 2011, and earnings before tax (EBT) of approximately
EUR 18 million, in each case before valuation effects.'
The 2010 annual report, including the fully consolidated financial
statements for VIB Vermögen AG, can be downloaded as of today from the
Internet at http://www.vib-ag.de.
Contact Us
Investor relations:
VIB Vermögen AG
Petra Riechert Luitpoldstr. C70
86633 Neuburg/Danube Germany
Phone: +49 (0)8431 504-952
Fax: +49 (0)8431 504-973
E-mail: petra.riechert(at)vib-ag.de
cometis AG
Stefan Kemmerer
Unter den Eichen 7
65195 Wiesbaden
Phone: +49 (0)611 205855-21
Fax: +49 (0)611 205855-66
E-mail: kemmerer(at)cometis.de
Profile of VIB Vermögen AG
VIB Vermögen AG (WKN 245751 / ISIN DE0002457512) 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 an Aktiengesellschaft (German public limited company)
in 2000. Since then, the company has developed core competences in the
acquisition and management of its own properties and participating
interests in companies with real estate portfolios. The VIB Group pursues a
buy-and-hold strategy. It both develops properties for its own portfolio
and also acquires existing properties. The VIB Group's real estate
portfolio includes various logistics properties and industrial facilities,
shopping and specialist retail centers as well as commercial and service
centers. The VIB Group generates sustainable rental returns with a total
rental area of approx. 661.500 m².
End of Corporate News
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Language: English
Company: VIB Vermögen AG
Luitpoldstraße C 70
86633 Neuburg/Donau
Deutschland
Phone: +49 (0)8431 / 504-952
Fax: +49 (0)8431 / 504-973
E-mail: petra.riechert(at)vib-ag.de
Internet: www.vib-ag.de
ISIN: DE0002457512
WKN: 245751
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
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119423 12.04.2011
Datum: 12.04.2011 - 09:04 Uhr
Sprache: Deutsch
News-ID 33759
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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