Deutsche Euroshop Newsroom

Corporate News

22.12.2006

Deutsche EuroShop sells Shopping Center in Italy

  • Earnings forecast 2006 will be significantly exceeded

Hamburg, 22 December 2006 – Deutsche EuroShop has sold today the shopping center Centro Commerciale Tuscia in Viterbo/Italy to an internationally-active investment fund. The planned portfolio adjustment in 2006 is now successfully completed. Deutsche EuroShop will realise a noticeable gain out of this transaction.

 

This additional profit will boost the projected earnings before taxes (EBT, without valuation result) for 2006 by 20 to 25 percent. Previously an EBT of Euro 37 to 40 million was forecasted.


Claus-Matthias Böge, CEO of Deutsche EuroShop, comments on the sale which was organised as auction: “The investors’ interest was enormous and the realised gain exceeded our expectation – a last-minute Christmas present for our shareholders.”

 

The Management expects the publication of a FY 2006 preliminary result, which includes the valuation result for the shopping center portfolio, for end of January 2007.

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