VIB Group Shows Strong 2023 Performance, Meets Financial Targets

VIB Vermögen AG, engaged in commercial property development, acquisition, and portfolio management, has announced a successful fiscal year 2023 despite market challenges. The company's preliminary results reveal that it met its financial guidance for the year, with significant achievements in gross rental income and funds from operations (FFO).

The company reported that its gross rental income reached EUR 86.9 million, aligning with the upper end of its forecast range of EUR 82.0-88.0 million. Similarly, the FFO amounted to EUR 72.6 million, marking an increase from the previous year and meeting the upper limit of the company's expectations. The vacancy rate remained impressively low at 2.1%.

Moreover, VIB Vermögen AG has postponed the release of its consolidated financial statements and annual report to 30 April 2024. This delay correlates with ongoing financial stabilization discussions with Branicks Group AG. The company reiterates its commitment to its specialized focus on logistics and light industrial properties and its strategic mixture of direct acquisitions and project developments.