Declared Dividend • Jun 08
Dividend of €0.04 announced Dividend of €0.04 is the same as last year. Ex-date: 6th August 2026 Payment date: 10th August 2026 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 2%. Cash payout ratio: 2%. Reported Earnings • May 02
Full year 2025 earnings released: EPS: €2.46 (vs €1.09 in FY 2024) Full year 2025 results: EPS: €2.46 (up from €1.09 in FY 2024). Revenue: €124.2m (up 16% from FY 2024). Net income: €81.4m (up 125% from FY 2024). Profit margin: 66% (up from 34% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 24% per year. New Risk • Mar 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.6% operating cash flow to total debt). Earnings have declined by 0.05% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (34% net profit margin). Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €11.00, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 14x in the Real Estate industry in Germany. Total loss to shareholders of 44% over the past three years. New Risk • Oct 07
New major risk - Revenue and earnings growth Earnings have declined by 0.05% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.6% operating cash flow to total debt). Earnings have declined by 0.05% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (34% net profit margin). Announcement • Aug 29
VIB Vermögen AG (XTRA:VIH1) completed the acquisition of Institutional Business of Branicks Group AG (XTRA:DIC). VIB Vermögen AG (XTRA:VIH1) entered into a purchase agreement to acquire Institutional Business of Branicks Group AG (XTRA:DIC) on July 7, 2025. The volume of the transfer to VIB Vermögen is around €360 million. The business relationship with institutional investors will not change. The customer interface and account managers will remain unchanged. The Commercial Portfolio of Branicks Group AG is not affected by the organisational change. The closing of the transaction is still subject to the usual, purely formal closing conditions. Branicks and VIB have also agreed that upon completion of the transfer, all claims of VIB against Branicks arising from the loan granted by VIB Vermögen AG to Branicks Group AG on July 7, 2023 in the amount of around €300 million will be offset.
VIB Vermögen AG (XTRA:VIH1) completed the acquisition of Institutional Business of Branicks Group AG (XTRA:DIC) on August 27, 2025. Reported Earnings • Aug 28
First half 2025 earnings released: EPS: €0.80 (vs €0.69 in 1H 2024) First half 2025 results: EPS: €0.80 (up from €0.69 in 1H 2024). Revenue: €59.8m (up 22% from 1H 2024). Net income: €26.4m (up 16% from 1H 2024). Profit margin: 44% (down from 47% in 1H 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 20% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Announcement • Aug 08
VIB Vermögen AG Announces Board Changes VIB Vermögen AG at the Annual General Meeting held on 6 August 2025 elected Mr. Jürgen Josef Overath as a new member of the Supervisory Board. He succeeds Mr. Johannes von Mutius, who resigned from the Supervisory Board with effect from the end of 23 March 2025. Upcoming Dividend • Jul 31
Upcoming dividend of €0.04 per share Eligible shareholders must have bought the stock before 07 August 2025. Payment date: 11 August 2025. Payout ratio is a comfortable 3.7% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (3.3%). Announcement • Jul 02
VIB Vermögen AG, Annual General Meeting, Aug 06, 2025 VIB Vermögen AG, Annual General Meeting, Aug 06, 2025, at 10:00 W. Europe Standard Time. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €7.68, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Real Estate industry in Germany. Total loss to shareholders of 78% over the past three years. Declared Dividend • Mar 14
Dividend of €0.04 announced Dividend of €0.04 is the same as last year. Ex-date: 7th August 2025 Payment date: 11th August 2025 Dividend yield will be 0.5%, which is lower than the industry average of 3.2%. Payout Ratios Payout ratio: 2%. Cash payout ratio: 1%. Announcement • Mar 13
VIB Vermögen AG announces Annual dividend, payable on August 11, 2025 VIB Vermögen AG announced Annual dividend of EUR 0.0400 per share payable on August 11, 2025, ex-date on August 07, 2025 and record date on August 08, 2025. Announcement • Oct 31
VIB Vermögen AG (XTRA:VIH1) acquired remaining 5.12% stake in BBI Bürgerliches Brauhaus Immobilien AG. VIB Vermögen AG (XTRA:VIH1) signed an agreement to acquire remaining 5.12% stake in BBI Bürgerliches Brauhaus Immobilien AG on June 24, 2024. VIB currently holds around 94.88 % of the share capital of BBI and is therefore its majority shareholder within the meaning of Section 62 para. 5 UmwG. VIB has set the appropriate cash compensation at an amount of €14.96 per share in BBI. The amount of the cash compensation was determined by VIB on the basis of a company valuation of BBI carried out by a neutral expert. The appropriateness of the cash compensation is currently still being reviewed by the court-selected and appointed auditor. However, the court-appointed auditor has already indicated that, from a current standpoint, it will confirm the appropriateness of the cash compensation determined. The merger agreement between VIB as surviving company and BBI as transferring company is to be concluded and notarised shortly. The annual general meeting of BBI, which is to adopt a resolution on the transfer of the shares of the minority shareholders of BBI to VIB against payment of an appropriate cash compensation in the amount of EUR 14.96 per share (“Transfer Resolution”), is expected to take place on August 13, 2024. The annual general meeting of VIB, to which the merger agreement is to be submitted for approval („Merger Resolution“), is expected to take place on August 14, 2024. The effectiveness of the merger squeeze-out is still subject to the approving Transfer Resolution by the annual general meeting of BBI, the approving Merger Resolution by the annual general meeting of VIB and the registration of the Transfer Resolution in the commercial register of BBI and the registration of the merger in the commercial registers of BBI and VIB.
VIB Vermögen AG (XTRA:VIH1) completed the acquisition of remaining 5.12% stake in BBI Bürgerliches Brauhaus Immobilien AG on October 29, 2024. In addition, the discontinuation of BBI's stock market listing will save operating costs. The resolution to merge was passed by the BBI Annual General Meeting on August 13, 2024. The VIB Annual General Meeting approved the merger on August 14, 2024. With the final entry of the transaction in the VIB commercial register on October 7, 2024, it has now become effective. As part of the merger, BBI's assets were transferred in their entirety to VIB. The shares of BBI's minority shareholders were transferred to VIB in return for an appropriate cash compensation. Before the merger, VIB already held 94.88% of BBI's share capital and was thus BBI's main shareholder. Kerstin Schnabel, Juliane Poss of DLA Piper Germany act as legal advisor for VIB Vermögen AG (XTRA:VIH1). Buy Or Sell Opportunity • Oct 30
Now 20% undervalued Over the last 90 days, the stock has risen 35% to €11.00. The fair value is estimated to be €13.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to decline by 1.6% in 2 years. Earnings are forecast to decline by 48% in the next 2 years. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €11.60, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Real Estate industry in Germany. Total loss to shareholders of 69% over the past three years. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €9.05, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Real Estate industry in Germany. Total loss to shareholders of 75% over the past three years. Reported Earnings • Sep 02
First half 2024 earnings released: EPS: €0.69 (vs €1.98 in 1H 2023) First half 2024 results: EPS: €0.69 (down from €1.98 in 1H 2023). Revenue: €49.1m (down 9.2% from 1H 2023). Net income: €22.9m (down 65% from 1H 2023). Profit margin: 47% (down from 121% in 1H 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Jul 09
VIB Vermögen AG, Annual General Meeting, Aug 14, 2024 VIB Vermögen AG, Annual General Meeting, Aug 14, 2024, at 10:00 W. Europe Standard Time. Announcement • Jul 05
VIB Vermögen AG to Report First Half, 2024 Results on Aug 27, 2024 VIB Vermögen AG announced that they will report first half, 2024 results on Aug 27, 2024 Buy Or Sell Opportunity • Jul 02
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to €8.80. The fair value is estimated to be €12.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 0.07% per annum. Earnings are forecast to decline by 37% per annum over the same time period. Buy Or Sell Opportunity • Jun 21
Now 22% undervalued Over the last 90 days, the stock has risen 1.9% to €9.50. The fair value is estimated to be €12.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Earnings per share has grown by 14%. For the next 3 years, revenue is forecast to grow by 0.07% per annum. Earnings are forecast to decline by 37% per annum over the same time period. New Risk • Jun 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 37% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.0% operating cash flow to total debt). Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • May 02
Full year 2023 earnings released: EPS: €3.92 (vs €1.90 in FY 2022) Full year 2023 results: EPS: €3.92 (up from €1.90 in FY 2022). Revenue: €99.9m (down 22% from FY 2022). Net income: €129.6m (up 142% from FY 2022). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €10.94, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 2x in the Real Estate industry in Germany. Total loss to shareholders of 61% over the past three years. New Risk • Mar 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.8% operating cash flow to total debt). Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €11.14, the stock trades at a forward P/E ratio of 4x. Average trailing P/E is 30x in the Real Estate industry in Germany. Total loss to shareholders of 60% over the past three years. New Risk • Feb 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.8% operating cash flow to total debt). Earnings are forecast to decline by an average of 4.7% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Large one-off items impacting financial results. Announcement • Feb 17
VIB Vermögen AG, Annual General Meeting, Jul 11, 2024 VIB Vermögen AG, Annual General Meeting, Jul 11, 2024. Agenda: AGM 2024. New Risk • Dec 30
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Earnings are forecast to decline by an average of 36% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). Price Target Changed • Nov 24
Price target decreased by 33% to €29.00 Down from €43.28, the current price target is provided by 1 analyst. New target price is 137% above last closing price of €12.26. Stock is down 38% over the past year. The company is forecast to post earnings per share of €4.02 for next year compared to €5.39 last year. New Risk • Aug 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 17% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings are forecast to decline by an average of 17% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (19% increase in shares outstanding). New Risk • Aug 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 113% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (7.8% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (79% net profit margin). Shareholders have been diluted in the past year (19% increase in shares outstanding). Reported Earnings • Aug 04
First half 2023 earnings released First half 2023 results: Revenue: €53.1m (flat on 1H 2022). Net income: €65.4m (up 89% from 1H 2022). Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Announcement • Jun 13
VIB Vermögen AG to Report First Half, 2023 Results on Aug 03, 2023 VIB Vermögen AG announced that they will report first half, 2023 results on Aug 03, 2023 Reported Earnings • Feb 17
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: €1.90 (down from €5.39 in FY 2021). Revenue: €106.7m (up 3.5% from FY 2021). Net income: €53.6m (down 64% from FY 2021). Profit margin: 50% (down from 145% in FY 2021). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 53%. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €19.30, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 13x in the Real Estate industry in Germany. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €31.88 per share. Announcement • Sep 01
VIB Vermögen AG Approves Distribute Dividend VIB Vermögen AG at Ordinary General Meeting 2022, approved to distribute a dividend of EUR 0.85 per no-par value share with dividend entitlement, either in cash or in shares, received a majority of 99.97%. This means that the dividend has increased by almost 12% compared to the previous year. Upcoming Dividend • Aug 24
Upcoming dividend of €0.85 per share Eligible shareholders must have bought the stock before 31 August 2022. Payment date: 27 September 2022. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.9%). Reported Earnings • Aug 04
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €16.6m (down 37% from 2Q 2021). Net income: €23.8m (up 71% from 2Q 2021). Over the next year, revenue is forecast to grow 7.7% compared to a 45% decline forecast for the industry in Germany. Announcement • Aug 03
VIB Vermögen AG Provides Earnings Guidance for the Year 2022 VIB Vermögen AG provided earnings guidance for the year 2022. The company expects to be able to generate sales of between EUR 103 and 109 million. Announcement • Jun 29
VIB Vermögen Ag Announces Executive Changes, October 1, 2022 The Supervisory Board of VIB VIB Vermögen AG, has appointed Mr. Nicolai Greiner as a new member of the Managing Board with effect from October 1, 2022. For the period from 1 July to 30 September 2022, Mr. Rainer Hettmer has been appointed to the Executive Board on an interim basis. Mr. Nicolai Greiner holds a degree in real estate economics and knows the real estate business from the ground up. Starting with his training as a businessman for real estate and housing, he has acquired excellent expertise through his activities and further training, for example, at Deutsche Immobilien AG in Freiburg from 2007 - 2009 and at the Academy of the Real Estate Industry from 2013 - 2014. He has held management positions at various real estate companies and is currently still active as Managing Director of thallos Projektentwicklung GmbH. Mr. Hettmer has been employed as Head of Financing and Investments at VIB Verm-gen AG since January 2002 and has known the company since it was founded in 1993. Together with Mr. Oehme, he will manage the AG's business until Mr. Nicolai Greiner, as a new member of the Managing Board, takes over the operative real estate area from 1.10.2022. Upcoming Dividend • Jun 24
Upcoming dividend of €0.85 per share Eligible shareholders must have bought the stock before 01 July 2022. Payment date: 05 July 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.5%). Price Target Changed • May 16
Price target decreased to €49.98 Down from €56.54, the current price target is an average from 3 analysts. New target price is 62% above last closing price of €30.85. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of €4.75 for next year compared to €5.39 last year. Major Estimate Revision • May 11
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €3.15 to €4.21. Revenue forecast steady at €109.1m. Net income forecast to shrink 21% next year vs 12% growth forecast for Real Estate industry in Germany . Consensus price target down from €56.54 to €53.38. Share price fell 5.9% to €31.75 over the past week. Major Estimate Revision • May 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €3.85 to €3.15. Revenue forecast unchanged from €109.5m at last update. Net income forecast to shrink 31% next year vs 8.9% growth forecast for Real Estate industry in Germany . Consensus price target of €56.54 unchanged from last update. Share price was steady at €33.75 over the past week. Reported Earnings • May 02
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: €5.39 (up from €2.39 in FY 2020). Revenue: €103.1m (up 9.3% from FY 2020). Net income: €149.0m (up 126% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 6.2% compared to a 33% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Feb 25
VIB Vermögen AG Proposes Dividend VIB Vermögen AG to proposed a dividend increase to the General Meeting, a dividend of EUR 0.85 per share, which is an increase of EUR 0.10% or 13.3%, shall be paid for the past fiscal year (previous year: EUR 0.75 per share). Announcement • Feb 15
VIB Vermögen AG Starts Marketing the 'Next Horizon' Development Project with Around 79,000 Sqm of Commercial Space in Erding VIB Vermögen AG was able to obtain the building permit for the highly attractive 215,000 sqm site in Erding last year. The marketing of the space is now being launched exclusively with CBRE. The property has good access to various motorways, and Munich Airport can be reached in around 15 minutes. The construction of around 79,000 sqm of lettable space is planned on the site. The commercial space is suitable for a wide variety of uses. Two office buildings with a total lettable area of around 15,700 sqm are planned, as well as six construction sites with building areas ranging from 2,100 to 30,300 sqm. NEXT HORIZON will be an area that can be 100% adapted to the individual needs of each user. The properties will be built according to the specifications required to achieve the DGNB Gold sustainability certificate, which VIB has received in the past for several of its self-developed properties. The company will meet the requirements with regard to electric mobility by constructing a multi-storey car park that has a staged concept for the installation of electric charging points. The NEXT HORIZON project development opens up new construction perspectives and continues the series of highly regarded logistics properties of the leading German project developer VIB Vermögen. These include, for example, the double-decker lighthouse project in Ingolstadt's Interpark whose usable building space of around 115,000 sqm has been leased long-term to Audi and VW since December 2020. Also implemented as an in-house development with well-known tenants was a distribution center near Augsburg, which will be used by Amazon on a long-term basis. Announcement • Feb 04
DIC Asset AG (XTRA:DIC) cancelled the acquisition of additional 40.95% stake in VIB Vermögen AG (XTRA:VIH1). DIC Asset AG (XTRA:DIC) made an offer to acquire additional 40.95% stake in VIB Vermögen AG (XTRA:VIH1) for approximately €580 million on January 31, 2022. As per the transaction DIC Asset AG already owns 10.5% stake and plans to hold about 51% stake in VIB Vermögen AG through a public offer for a cash payment of €51 per share. The transaction will be financed from existing funds for up to €300 million and the rest of the purchase price will initially be provided via a bridge loan which, following a successful transaction, is to be refinanced through a combination of equity capital. The acceptance period starts from February 9, 2022 till March 4, 2022. The transaction expected to be accretive on a FFO I per share basis.
DIC Asset AG (XTRA:DIC) cancelled the acquisition of additional 40.95% stake in VIB Vermögen AG (XTRA:VIH1) on February 2, 2022. The transaction has been rejected by board of directors of VIB Vermögen AG. Price Target Changed • Feb 03
Price target increased to €44.00 Up from €40.17, the current price target is an average from 4 analysts. New target price is 14% below last closing price of €51.00. Stock is up 70% over the past year. The company is forecast to post earnings per share of €4.58 for next year compared to €2.39 last year. Major Estimate Revision • Jan 27
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from €3.01 to €4.58. Revenue forecast unchanged at €100.7m. Net income forecast to grow 32% next year vs 1.0% growth forecast for Real Estate industry in Germany. Consensus price target up from €40.17 to €41.00. Share price was steady at €47.80 over the past week. Price Target Changed • Dec 06
Price target increased to €40.17 Up from €37.08, the current price target is an average from 3 analysts. New target price is 5.7% below last closing price of €42.60. Stock is up 52% over the past year. The company is forecast to post earnings per share of €2.84 for next year compared to €2.39 last year. Reported Earnings • Nov 11
Third quarter 2021 earnings released: EPS €0.65 (vs €0.61 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: €26.9m (up 13% from 3Q 2020). Net income: €17.8m (up 5.9% from 3Q 2020). Profit margin: 66% (down from 71% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Nov 09
Price target increased to €38.08 Up from €35.10, the current price target is an average from 3 analysts. New target price is 12% below last closing price of €43.25. Stock is up 52% over the past year. The company is forecast to post earnings per share of €2.36 for next year compared to €2.39 last year. Reported Earnings • Aug 12
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: €26.2m (up 14% from 2Q 2020). Net income: €13.9m (down 15% from 2Q 2020). Profit margin: 53% (down from 71% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jul 13
Supervisory Board Member Rolf Klug has left the company On the 1st of July, Rolf Klug's tenure as Supervisory Board Member ended. We don't have any record of a personal shareholding under Rolf's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 10.54 years. Executive Departure • Jul 13
Supervisory Board Member Franz-Xaver Schmidbauer has left the company On the 1st of July, Franz-Xaver Schmidbauer's tenure as Supervisory Board Member ended. We don't have any record of a personal shareholding under Franz-Xaver's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 10.54 years. Upcoming Dividend • Jun 25
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 02 July 2021. Payment date: 29 July 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.9%). Price Target Changed • Jun 12
Price target increased to €35.10 Up from €32.75, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €35.75. Stock is up 37% over the past year. Major Estimate Revision • Jun 04
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from €2.43 to €2.73. Revenue forecast steady at €103.7m. Net income forecast to grow 7.0% next year vs 15% growth forecast for Real Estate industry in Germany. Consensus price target up from €32.75 to €33.88. Share price was steady at €33.55 over the past week. Reported Earnings • May 02
Full year 2020 earnings released: EPS €2.39 (vs €2.29 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €95.7m (up 4.6% from FY 2019). Net income: €65.9m (up 4.3% from FY 2019). Profit margin: 69% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 12% per year. Major Estimate Revision • Mar 27
Consensus forecasts updated The consensus outlook for 2020 has been updated. 2020 EPS estimate increased from €2.47 to €2.84. Revenue forecast steady at €94.6m. Net income forecast to grow 4.6% next year vs 2.6% growth forecast for Real Estate industry in Germany. Consensus price target broadly unchanged at €31.95. Share price was steady at €29.20 over the past week. Announcement • Mar 25
VIB Vermögen AG Provides Earnings Guidance for the Full Year of Fiscal 2021 VIB Vermögen AG provided earnings guidance for the full year of fiscal 2021. The company expected that revenue of between EUR 99 million and EUR 105 million will be achieved in the 2021 fiscal year. When adjusted for valuation effects and extraordinary items, EBT is expected to reach a level between EUR 61 million and EUR 65 million. Announcement • Feb 03
VIB Vermögen AG Provides Space for New Vaccination Centre in Ingolstadt VIB Vermögen AG is leasing 2,200 square metres in its DonauCityCenter (DCC) property in Ingolstadt to the city for the establishment of a vaccination centre. Due to its very convenient location in the heart of Ingolstadt, the sufficient parking spaces available and good
accessibility by public transport, the city of Ingolstadt asked its company whether it would be possible to use
the property as a vaccination centre. The ground-level access also facilitates this use. After a careful
examination of the location and the space, the lease was signed last week. Originally, the space was intended
for over-planning in the course of a redevelopment, therefore it can be made available for the temporary lease
at short notice without interrupting the ongoing planning and approval process. Announcement • Dec 16
VIB Vermögen AG Completes In-House Development in the Company's History with A Lettable Area of 115,000 Square Meters in the Interpark Near Ingolstadt on Schedule VIB Vermögen AG, completed its logistic in-house development so far in the Interpark near K-sching/Ingolstadt as scheduled in November 2020 and handed it over to the second tenant Volkswagen. The entire property has a total lettable area of around 115,000 square meters on a site area of around 113,000 square meters, which is leased to Audi and VW on a long-term basis. The special feature of this project development is that, for the first time, a two-storey building has been constructed on part of the plot. This is a further statement of the company's sustainability strategy in the construction sector. The ultramodern halls are located in the Interpark, one of the most important industrial parks in southern Germany in the immediate vicinity of Ingolstadt and in the catchment area of the Munich and Nuremberg metropolitan regions. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.61 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €23.9m (up 5.5% from 3Q 2019). Net income: €16.8m (up 34% from 3Q 2019). Profit margin: 71% (up from 56% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Is New 90 Day High Low • Oct 29
New 90-day low: €26.15 The company is down 5.0% from its price of €27.50 on 30 July 2020. The German market is also down 5.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Real Estate industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.55 per share. Is New 90 Day High Low • Oct 07
New 90-day high: €29.55 The company is up 6.0% from its price of €28.00 on 09 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.45 per share. Is New 90 Day High Low • Sep 18
New 90-day low: €26.50 The company is down 6.0% from its price of €28.05 on 19 June 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.47 per share. 
