Deutsche Euroshop Newsroom

Corporate News

12.08.2014

Deutsche EuroShop: First half of 2014 solid and on track

  • Revenue: €99.7 million (+12%), EBIT: €88.3 million (+14%)
  • EBT: €57.4 million (+24%)
  • Consolidated profit: €46.3 million (+23%)
  • FFO: €1.09 per share (+16%)

After generating €99.7 million in revenue (previous year: €88.8 million) and an EBIT of €88.3 million (€77.2 million) during the first six months of 2014, the shopping center investor Deutsche EuroShop is right on track to fulfilling its forecast for the year as a whole.

 

Claus-Matthias Böge, Executive Board Spokesman of Deutsche EuroShop, explains: "The considerable increases can largely be attributed to the Altmarkt-Galerie Dresden, which we began to fully consolidate in May 2013 after increasing our shareholding to 100 percent."

 

Consolidated profit experienced an increase year-on-year of just around 23% to €46.3 million. Correspondingly, earnings per share rose to €0.86 and EPRA earnings per share adjusted for valuation effects were 19% higher at €0.91. Funds from operations (FFO) improved by 16% from €0.94 to €1.09 per share.

 

Deutsche EuroShop is standing its forecast and envisages paying a dividend of €1.30 per share for financial year 2014.

 

Full interim report

The full interim report is available as a PDF document and in ePaper format. It can be downloaded from  www.deutsche-euroshop.com/ir.


Internet broadcast of the teleconference

Deutsche EuroShop will hold a conference call in English as a live webcast at 10:30 a.m. (CEST) on Wednesday, 13 August 2014 at www.deutsche-euroshop.com/ir.

 

Deutsche EuroShop – The shopping center company

Deutsche EuroShop is the only public company in Germany to invest solely in shopping centers in prime locations. The MDAX-listed company currently has investments in 19 shopping centers in Germany, Austria, Poland and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk.

 

Figures for Deutsche EuroShop (IFRS)

In € million

01.01.-30.06.
2014

01.01.-30.06.
2013

+ / -

Revenue

99.7

88.8

12%

EBIT

88.3

77.2

14%

Net finance costs

-28.0

-27.7

-1%

Valuation gains/losses

-2.9

-3.1

-6%

EBT

57.4

46.4

24%

Consolidated profit

46.3

37.7

23%

FFO per share (€)

1.09

0.94

16%

Earnings per share in € (undiluted)

0.86

0.70

23%


30.06.2014

31.12.2013

+ / -

Equity*

1,613.3

1,642.4

-2%

Liabilities

1,771.4

1,752.5

1%

Total assets

3,384.7

3,394.9

0%

Equity ratio (%)**

47.7

48.4


LTV ratio (%)

43

43


Gearing (%)**

110

107


Cash and cash equivalents

71.8

40.8

76%

* incl. third-party interests in equity


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Deutsche EuroShop H1 2017 Interim Report Conference Call Slide Presentation
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