Branicks Group AG Announces Further Debt Repayment Amid Positive Business Performance

Frankfurt am Main, August 19, 2024: Branicks Group AG has announced a further reduction in bridge financing for the acquisition of VIB-Vermögen AG by EUR 80 million, bringing the remaining amount to EUR 40 million. This follows a strong business performance in the first half of the year.

Preliminary, unaudited figures for the first half of 2024 reveal that Funds from Operations (FFO) amounted to EUR 19.4 million, aligning with the annual target of EUR 40 to 55 million. Net rental income was EUR 77.1 million, impacted by planned property sales.

Branicks aims to fully repay the bridge financing by year-end, having already reduced it from EUR 200 million. The firm will present its full first-half figures on August 27, 2024.