VIB Vermögen AG Reports Strong First Half of 2024 Amid Challenging Market

VIB Vermögen AG experienced a robust first half of 2024 with significant transaction activity supporting its diversification strategy. Funds from operations rose by 7% to EUR 40 million. However, gross rental income dipped to EUR 41.1 million, partly due to asset sales from the previous year.

The vacancy rate stood at a low 2.7%, reflecting the high quality of the portfolio. The company increased its exposure to the office asset class, further diversifying its income sources.

Despite a dip in consolidated net income to EUR 22.6 million, the company’s future outlook remains positive. The management confirmed an improved annual forecast, expecting gross rental income between EUR 85-89 million and funds from operations of EUR 74-78 million.

VIB has successfully maneuvered through a difficult market, securing future growth through strategic acquisitions and maintaining a solid financing structure with a 37.0% loan-to-value ratio.