Deutsche Euroshop Newsroom

Ad hoc Disclosure

09.04.2003

Deutsche EuroShop AG increases operational result in 2002 by 37%

Eschborn / Hamburg, 9. April 2003. The Deutsche EuroShop AG announces after today's Supervisory Board meeting a result from ordinary activities of 24.8 million in fiscal year 2002. This corresponds to an increase in relation to the previous year ( 18.1 millions) of 37%. The prognosticated result of 22.1 millions could be exceeded by the amount of 2.7 millions (+ 12%). The balance sheet profit of 30 millions will be used again in total for the payment of a tax-free dividend. On the basis of this result, the management and the Supervisory Board will propose to the Annual General Meeting on 18. June 2003 in Frankfurt a constant dividend of 1.92 per share.
Group sales were more than doubled from 22.7 millions to 46.5 millions in relation to the previous year. The EBITDA could be trebled from 8.9 millions to 37 millions and the EBIT increased from -3 millions in the previous year to 15.4 millions. Management intends to fully invest the liquidity reserve of 72 millions into further shoppingcenter participations until the end of this year.

The Executive Board



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