Deutsche EuroShop: valuation result 2019 expected to be approximately EUR-123 million

Deutsche EuroShop AG is anticipates for 2019 a negative pre-tax valuation result of approximately EUR-123.0 million (previous year: EUR-58.3) from unrealised and non-cash changes in the market values of the investment properties and costs in connection with capital expenditures in relation to the center portfolio. Of this amount, approximately EUR-96.0 million (previous year: EUR-55.7 million) came from the results of the Group companies and approximately EUR-27.0 million (previous year: EUR-2.6 million) from the valuation result of companies shown in the financial result, which are accounted for using the equity method.

The main factors influencing the valuation included on average slightly increased yields for shopping centers in Germany, investments in the modernization and positioning of the existing portfolio as well as the rent development. The occupancy ratio of the shopping center portfolio according to EPRA fell slightly to 97.6% (-1.0 percentage point).

The valuation result for the real estate properties is still subject to change, as additional items relevant to the valuation may come to light during the preparation of the annual financial statements.

The publication of Deutsche EuroShop AG's preliminary results for the financial year 2019 is planned for 19 March 2020.
 

This notice contains complementary financial figures that are not precisely defined by the relevant accounting standards and that (may) represent alternative performance indicators. These complementary financial figures should not be considered in isolation or as an alternative to the figures presented in the consolidated financial statements and determined in accordance with the relevant accounting standards when evaluating the assets, financial position and results of operations of Deutsche EuroShop. Such alternative performance indicators may be calculated differently but labelled similarly by other companies. For explanations regarding the financial figures used, please consult www.deutsche-euroshop.de/Investor-Relations/Service/Glossary/

Person making the notification: Patrick Kiss, Head of Investor & Public Relations