EQS-News: Branicks Group AG: VIB bridge financing fully repaid

Frankfurt am Main, October 07, 2024

Press release of the Branicks Group AG

Branicks Group AG: VIB bridge financing fully repaid

• Final payment of EUR 40 million made at the start of the fourth quarter
• Key objective of the restructuring plan achieved ahead of schedule
• Interest expense declining

Frankfurt am Main, October 07, 2024: Branicks Group AG (“Branicks”), ISIN: DE000A1X3XX4, one of Germany's leading listed real estate companies, has fully repaid the bridge financing for the acquisition of VIB Vermögen AG with a final payment of EUR 40 million at the start of the fourth quarter. This means that a key objective of the company's restructuring plan has been achieved well before the end of the financial year.

“Our operationally pleasing business performance and our transaction activities in the first three quarters of the current financial year form the framework for the very satisfactory progress of our restructuring. With the full repayment of the bridge financing for the VIB acquisition, we have now reached an important milestone early on and at the same time significantly reduced our interest expenses from the fourth quarter, commented Sonja Wärntges, CEO of Branicks Group AG, on the current development.  

To acquire VIB Vermögen AG, Branicks had originally entered into bridge financing of EUR 500 million in March 2022, of which EUR 300 million was repaid in two stages in the 2023 financial year. In the first half of 2024, Branicks had already repaid EUR 80 million of the bridge financing in two further stages and a further EUR 80 million in August. With the current repayment step, the bridge has been repaid in full. The repayment, which was originally scheduled for the end of 2024, was part of the company's restructuring plan adopted in the spring. The target has now been achieved ahead of schedule at the start of the fourth quarter. The Group's net interest income in the first half of the financial year amounted to EUR -54.6 million. The average interest rate on liabilities had already fallen to 3.21% by the end of the first half of the year, and interest expenses are expected to fall noticeably from the fourth quarter onwards thanks to the bridge repayment.

About Branicks Group AG:

Branicks Group AG (formerly DIC Asset AG) is a leading German listed specialist for office and logistics real estate as well as newly renewable assets with over 25 years of experience in the real estate market and access to a broad investor network. Our basis is the national and regional real estate platform with nine offices in the ground in all major German markets (including VIB Vermögen AG). As of June 30, 2024, we managed properties with a market value of EUR 12.5 billion in the Commercial Portfolio and Institutional Business segments.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate cash flows from stable rent revenues on long-term leases while also optimizing the value of our portfolio assets through active management and realizing gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

The shares of Branicks Group AG are listed in the Prime Standard of the German Stock Exchange (WKN: A1X3XX / ISIN: DE000A1X3XX4).

The company is fully committed to sustainability and occupies top positions in ESG-relevant ratings such as Morningstar Sustainalytics and S&P Global CSA. The Branicks Group is also a signatory to the UN Global Compact and the UN PRI network. Properties in the Branicks portfolio have been awarded renowned sustainability certificates such as DGNB, LEED or BREEAM.

For more details go to www.branicks.com

PR Contact Branicks Group AG:

Stephan Heimbach

Neue Mainzer Straße 32-36

60311 Frankfurt am Main

Fon +49 69 9454858-1569

pr@branicks.com

IR Contact Branicks Group AG:

Jasmin Dentz

Neue Mainzer Straße 32-36

60311 Frankfurt am Main

Fon +49 69 9454858-1492

ir@branicks.com