Deutsche Euroshop Newsroom

Corporate News

13.08.2015

Deutsche EuroShop: First-half results in line with forecast

  • Revenue: €100.6 million, EBIT: €88.2 million
  • EBT before measurement: €63.6 million (+5.0%)
  • Earnings per share: €0.92 (+7.0%)
  • FFO: €1.14 per share (+4.6%)


The shopping centre investor Deutsche EuroShop recorded net operating income (NOI) of €91.8 million (+1.3%) in the first half of 2015, on revenues of €100.6 million (+0.9% year on year). Due to an exceptional charge, EBIT remained virtually unchanged at €88.2 million – without this effect, EBIT would have risen by €0.9 million (1.1%).

 

Earnings before taxes and measurement (EBT before measurement) increased from €60.6 million to €63.6 million (+5.0%). Consolidated profit improved by 7.2% to €49.7 million (2014: €46.3 million), taking earnings per share from €0.86 to €0.92. EPRA earnings per share, i.e. the result adjusted for valuation effects, rose from €0.91 to €0.95 per share, which corresponds to an increase of 4.4%. Funds from operations improved by 4.6% from €1.09 to €1.14 per share.

 

“These pleasing results are down to the continued strong performance in operating business and, in particular, the further year-on-year improvement in net finance costs,” explains Wilhelm Wellner, CEO.

 

The Deutsche EuroShop management team is sticking to its forecast for financial year 2015 and aims to pay a dividend of at least €1.35 per share for the current year.

 

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 for analysts in English at 11 a.m. on Friday 14 August 2015, which will be carried as a live webcast onwww.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 € m

01.01.-30.06.
2015

01.01.-30.06.
2014

+/-

Revenue

100.6

99.7

1 %

EBIT

88.2

88.3

0 %

Financial result

-24.7

-28.0

12 %

Valuation gains/losses

-2.0

-2.9

31 %

EBT

61.5

57.4

7 %

Consolidated profit

49.7

46.3

7 %

FFO per share (€)

1.14

1.09

5 %

Earnings per share (undiluted)

0.92

0.86

7 %


30.06.2015

31.12.2014

+/-

Equity*

1,736.0

1,751.2

-1 %

Liabilities

1,769.0

1,741.0

2 %

Total assets

3,504.9

3,492.2

0 %

Equity ratio (%)*

49.5

50.1


LTV ratio (%)

41

40


Gearing (%)*

102

99


Cash and cash equivalents

73.3

58.3

26 %


* incl. third-party interests in equity

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Deutsche EuroShop H1 2017 Interim Report Conference Call Slide Presentation
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