VIB with strong growth in the first half of 2025 – Increase in both gross rental income and FFO

VIB with strong growth in the first half of 2025 – Increase in both gross rental income and FFO

• Funds from operations rise by 20% to EUR 47,8 million
• Gross rental income increases significantly by 22% due to expansion
• Portfolio diversification: Office asset class established as second and equal source of income alongside logistics
• Acquisition of Branicks’ institutional business will ensure further growth
• Guidance for 2025 fully confirmed

Neuburg/Danube, August 27, 2025. VIB Vermögen AG (“VIB“), a company specializing in the development, acquisition and management of commercial real estate, achieved further milestones in its diversification strategy in the first half of 2025. On the one hand, the transactions carried out enabled office properties to establish themselves as a second and equivalent asset class alongside logistics. On the other hand, the acquisition of the institutional business of Branicks Group AG, which was completed after the balance sheet date of June 30, was an important strategic development. This will significantly strengthen another pillar of VIB’s business model in the future and at the same time lay the foundation for additional high-quality growth.

Increase in gross rental income and FFO, solid balance sheet ratios

Gross rental income rose significantly by 22% year-on-year to EUR 50.2 million (previous year: EUR 41.1 million) due to the real estate transactions completed in 2024 and in the first half of 2025. As a result, annualised net basic rents as of the reporting date increased by 13% to EUR 103.5 million (previous year: EUR 91.6 million).

Funds from operations (FFO) before taxes and minority interests also rose significantly in the first half of the year compared with the same period last year, up 20% to EUR 47.8 million (previous year: EUR 40.0 million), corresponding to FFO per share of EUR 1.45 (previous year: EUR 1.21).

VIB's total assets exceeded the two billion euro mark for the first time in the company’s history, reaching a value of EUR 2.1 billion as at June 30, 2025 (December 31, 2024: EUR 1.9 billion). The increase is mainly due to the EUR 0.3 billion rise in investment properties to EUR 1.6 billion (December 31, 2024: EUR 1.3 billion). Equity rose from EUR 932.0 million to EUR 977.1 million particularly as a result of the consolidated net profit generated. The equity ratio stood at 45.7%, compared with 49.1% as at December 31, 2024.

Balanced real estate portfolio with low vacancy rate

At the end of the first half of the year, the real estate portfolio under the umbrella of the VIB Group comprised 128 properties with a total usable floor space of 1.91 million square metres. Of these, 86 properties with a useful floor space of 0.97 million square metres are owned by VIB, while 42 properties with a floor space of 0.94 million square metres are attributable to the Institutional Business segment.

Logistics and light industrial properties accounted for 44% of the in-house portfolio, office properties for 50%, retail properties for 5% and service/other for 1%. The vacancy rate in the portfolio remained low at 4.6% as at June 30.

With the acquisition of the institutional business from the Branicks Group after the balance sheet date, this segment will experience massive growth at VIB in the future. The total volume in this business segment now comprises 147 properties with 2.6 million square metres of rentable space and a total portfolio value of EUR 8.4 billion. The office asset class dominates with a 77% share, followed by logistics with 12%, retail with 6% and mixed use/other with 5%.

The VIB Group continues to have a very solid financing structure. The average interest rate on bank loans was 2.4% per annum (December 31, 2024: 2.5% per annum). The LTV (loan-to-value) ratio, an important indicator of indebtedness, was 40.6% as of 30 June (December 31, 2024: 37.0%).

Guidance for fiscal year 2025 confirmed

Business performance in the first half of the year was in line with expectations. All sales and acquisitions were completed as planned. In the area of property management, in-house asset management by VIB Group employees continues to prove its worth. All important and control-relevant real estate KPIs and balance sheet figures developed as planned.

Dirk Oehme, Speaker of the Executive Board of VIB, comments: “We can look back on a very successful first half of the year in which we were again able to achieve some important milestones in our business strategy. With the acquisition of additional office properties, we have now succeeded in firmly establishing a second, equivalent asset class alongside logistics in our portfolio. In addition, we will also grow strongly in the Institutional Business segment in the future. Both pillars, our own portfolio and the Institutional Business, will enable our company to grow significantly in the coming years and ensure stable earnings in the long term.”

In the half-year report presented, the Management Board confirms the guidance for the full year communicated in mid-March 2025 and expects gross rental income of EUR 101–105 million, FFO of EUR 78–82 million and a vacancy rate in the low single-digit percentage range.

The Half-Year Report 2025 is available for download at: https://vib-ag.de/en/

Contact

VIB Vermögen AG

Investor Relations:

Tilly-Park 1

86633 Neuburg/Danube

Phone: + 49 (0)8431 9077-961

Fax: + 49 (0)8431 9077-1961

E-mail: ir@vib-ag.de

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specializing in the development, acquisition and management of modern and sustainably profitable commercial properties, which has been operating successfully on the market for more than 30 years. The focus is on properties in the logistics & light industrial and office asset classes. VIB shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.

In addition to direct acquisitions, VIB’s broad-based business model also includes the complete spectrum of in-house developments and redensification as part of a 360-degree approach: On the one hand, VIB Vermögen AG acquires properties that are already let, and on the other hand it develops new properties from scratch in order to incorporate them into its own portfolio on a permanent basis and generate rental income from them. At the same time, sales are part of the overall strategy. VIB also offers comprehensive property management services and solutions for institutional investors and holds interests in companies with property assets.

More information at https://vib-ag.de/en/