The preliminary result of the real estate valuation of the real estate portfolio leads to a higher market value which will not be recognized by the P&L and the balance sheet and to a higher net asset value per share

VIB Vermögen AG / Keyword(s): Real Estate
The preliminary result of the real estate valuation of the real estate portfolio leads to a higher market value which will not be recognized by the P&L and the balance sheet and to a higher net asset value per share

25-May-2022 / 11:56 CET/CEST
Disclosure of inside information acc. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

VIB Vermögen AG
Neuburg/Donau

Public disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

VIB Vermögen AG: The preliminary result of the real estate valuation of the real estate portfolio leads to a significantly higher market value which will not be recognized in the results and balance sheet and to a higher net asset value per share

Neuburg/Danube, May 25, 2022 – Due to the current market situation, VIB Vermögen AG has had the valuation of its real estate portfolio updated by an internationally operating external valuator as of April 1, 2022. To date, the Executive Board assumes, based on the result of the preliminary valuation, that the market value of the real estate portfolio, taking into account ongoing project developments, will probably increase to 2.3 billion euros by 1 April 2022 (the latest valuation of the real estate portfolio carried out as of December 31, 2021 still resulted in a market value of 1.5 billion euros excluding ongoing project developments). Based on the figures published as of March 31, 2022, the Management Board expects the pro forma net asset value per share to be approximately €59 as of April 1, 2022 (net asset value per share as of March 31, 2022). 2022: €30.02). The final valuation and the resulting final real estate portfolio valuation are expected to be available on June 30, 2022.

This fair value will not be included in the half-yearly consolidated balance sheet of VIB Vermögen AG as of June 30, 2022, as the company will change its accounting to cost accounting in accordance with IAS 40 in conjunction with IAS 16 as part of the standardization of accounting principles of the new group with DIC Asset AG as of June 30, 2022.

Consequently, no more fair value adjustment of the real estate portfolio will be recognized in the balance sheet and in the income statement. The amount of the real estate portfolio as of March 31, 2022, which is accounted for by adjusting the accounting principles, is pro forma of 1.3 billion euros and thus differs by approximately 0.2 billion euros from the amount of 1, 5 billion euros indicated in the Q1 /2022 interim report. In the 2022 half-year report, VIB Vermögen AG will apply the new accounting principles for the first time with correspondingly adjusted figures for the previous year.

.

Notifying person:

Petra Riechert

Head of Investor Relations

petra.riechert@vib-ag.de

+49 (0) 8431 9077 952

Note on the use of alternative key performance indicators

This publication contains an additional financial figure which is not precisely defined in IFRS, HGB or other generally accepted accounting principles, which is or may be referred to as alternative performance measures (APM). VIB presents net asset value (NAV) because these measures are used by the board of directors for monitoring, economic planning and management of corporate performance and the board of directors believes that this measure provides a more complete understanding of the underlying performance and related trend. The NAV is a performance indicator used to assess the net asset position of the Company.

The net asset value is calculated as the sum of the fair values ​​of real estate assets as determined by external experts plus the value of other assets less all liabilities.

On the basis of total investment properties plus other non-current assets, plus shares in associates, plus the value of other assets and plus assets held for sale appearing on the assets side of the balance sheet, the total of the resulting assets is reduced by the total net financial debts (= financial debts less bank and cash in hand). In addition, all other liabilities, including minority interests recognized in equity, are deducted. However, deferred taxes are not taken into account and are not deducted.

Dividing the resulting net assets (net asset value) by the number of shares outstanding on the respective closing date gives the net asset value per share.

Important Notice

This publication does not constitute an offer to sell or a solicitation to buy securities.

To the extent that this publication contains forward-looking statements, these do not represent facts and are identified by the words “will”, “expect”, “believe”, “estimate”, “intend”. , “aim”, “assume” and other formulations. These statements express intentions, opinions or current expectations and assumptions of VIB Vermögen AG and persons acting jointly with it. Forward-looking statements are based on current plans, estimates and forecasts that VIB Vermögen AG and persons acting jointly with it have made to the best of their knowledge, but make no representations as to their future accuracy. Forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and are generally beyond the sphere of influence of VIB Vermögen AG or persons acting jointly with it. It should be taken into account that actual results or consequences may differ materially from those indicated or contained in the forward-looking statements. VIB Vermögen AG undertakes no obligation to update these forward-looking statements or to adapt them to future events or developments.

May 25, 2022 CET/CEST DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.dgap.de