VIB Vermögen AG VIB reports first half-year 2026 results in line with plan – further strategic and operational milestones achieved

VIB reports first half-year 2026 results in line with plan – further strategic and operational milestones achieved

• Rental income of EUR 46.8 million and funds from operations of EUR 24.1 million fully in line with plan
• Income in the Institutional Business segment increases significantly to EUR 19.1 million
• Strategic milestones:
  • Conclusion of a joint venture in project development secures future income
  • Refinancing of promissory note loans secured
• GreenBiz-Park Erding: further lease agreements increase pre-letting rate to 96%
• Guidance for 2026 confirmed

 

Neuburg/Danube, 26 August 2026. VIB Vermögen AG (“VIB“) successfully completed the first six months of the 2026 financial year. All financial key figures were in line with expectations. The company also achieved further milestones from a strategic and operational perspective.

As expected, gross rental income for the reporting period declined to EUR 46.8 million (previous year: EUR 50.2 million) due to the property sales that took place in 2025 and 2026. For the same reasons, funds from operations (FFO) declined to EUR 24.1 million (previous year: EUR 47.8 million).
The decline is primarily attributable to the loss of interest income from the loan granted to Branicks Group AG.

Income from property management in the Institutional Business segment increased significantly to EUR 19.1 million (previous year: EUR 3.3 million). Expected transactions in the Institutional Business segment will lead to a significant increase in property management income in the second half of the year and further strengthen this segment. The Management Board confirms its full-year guidance of FFO in the range of EUR 60–70 million.

 

Further operational and strategic successes in the first half of 2026: Dirk Oehme, Speaker of the Board of VIB Vermögen AG, comments:

”Despite ongoing market uncertainties, persistent geopolitical tensions and volatile interest rates, we are fully on track with the development of the first half of the year. Our current transaction pipeline will ensure further income over the course of the year. This, together with the joint venture in project development that we recently concluded, represents further milestones that point to an promising development of the VIB Group in the coming years.”

Assets under Management (AuM)

As at the reporting date of 30 June 2026, assets under management, comprising properties in the Commercial Portfolio (own portfolio) and properties managed by VIB in the Institutional Business segment, amounted to EUR 9.7 billion (31 December 2025: EUR 10.1 billion). In the own portfolio, two properties were disposed of during the reporting period, while five properties were disposed of in the Institutional Business segment, reducing the total number of properties managed under the umbrella of VIB to 240 (31 December 2025: 247).

Commercial Portfolio (own portfolio)

The market value of the properties in the Commercial Portfolio remained unchanged at EUR 1.8 billion as at the reporting date. Gross rental income declined by 6.8% to EUR 46.8 million due to transactions (H1 2025: EUR 50.2 million), while net rental income stood at EUR 40.9 million (H1 2025: EUR 44.5 million). The EPRA vacancy rate in the own portfolio was 11.5% (31 December 2025: 6.3%).

Institutional Business

The market value of properties managed for institutional investors stood at EUR 7.9 billion as at the reporting date (31 December 2025: EUR 8.3 billion). Due to the expansion of the Institutional Business segment, income from property management fees rose significantly to EUR 19.1 million during the reporting period (H1 2025: EUR 3.3 million). Due to expected transaction fees in the second half of 2026, the Management Board confirms its expected income from property management of EUR 53–63 million for the full year 2026.

Financing

VIB continues to have a very solid financing structure. The average interest rate on bank loans stood at 2.5% per annum as at the reporting date of 30 June 2026 (31 December 2025: 2.4% per annum). The LTV (loan-to-value) ratio, an important indicator of indebtedness, declined to 41.2% as at 30 June (31 December 2025: 43.0%).

Also very positive in this context was the announcement that the refinancing of the EUR 58 million promissory note loans due in September 2026 and March 2027 has now been secured. The signing of a joint lock-up agreement with Branicks Group AG has created planning certainty and paved the way for the further positive development of VIB.

 

Strategic focus on further expansion of the Institutional Business and scaling of the project development business

VIB will continue to work purposefully on expanding its business with institutional investors. This will create the basis for firmly establishing a further, important source of income within the VIB Group alongside its own property portfolio. To reflect the growing importance of this segment, Christian Fritzsche has been part of VIB since the middle of the year as the Management Board member responsible for the Institutional Business segment.

The project development business in the logistics sector has been a guarantor of VIB’s business success for many years. This success story is set to be intensified further in the coming years: on the one hand through highly profitable developments within VIB’s own property portfolio, and on the other through the joint venture with Tristan Capital concluded in the first half of 2026. Tristan’s strong financial capacity combined with VIB’s extensive development expertise will make a significant contribution to the positive further development of the VIB Group in the years ahead.

Guidance for fiscal year 2026 confirmed

In the half-year report presented, the Management Board confirms the guidance for the 2026 financial year communicated in April.

The Half-Year Report 2026 is available for download at https://vib-ag.de/en/

 

 

Contact VIB Vermögen AG:

Michael Blankenhorn

Tilly-Park 1

86633 Neuburg/Danube

Tel.: + 49 (0)8431 9077-949

E-Mail: ir@vib-ag.de

About VIB Vermögen AG

VIB Vermögen AG is a medium-sized company specialising in the development, acquisition and management of modern and sustainably profitable commercial properties, which has been operating successfully on the market for more than 30 years. The focus is on properties in the logistics & light industrial and office asset classes. Since 2005, VIB shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges.

In addition to direct acquisitions, VIB’s broad-based business model also includes the complete spectrum of in-house developments and redensification as part of a 360-degree approach: On the one hand, VIB Vermögen AG acquires already let properties, and on the other hand, it develops new properties from scratch in order to add them into its own portfolio on a permanent basis and generate rental income from them. At the same time, sales are part of the overall strategy. In addition, VIB offers comprehensive services and solutions in the field of property management for institutional investors and holds stakes in companies with real estate assets.

More information at https://vib-ag.de/en/