DGAP-News: Deutsche EuroShop AG / Key word(s): Annual Results/Forecast
Deutsche EuroShop: presentation of the 2018 Annual Report / earnings and dividend forecast for 2019 and 2020
Hamburg, 29 April 2019 - Shopping center investor Deutsche EuroShop AG, Hamburg, today presented the audited results for the 2018 financial year and confirmed the preliminary results published at the end of February. The Annual Report published under the motto "Show & Room" is now available for download at www.deutsche-euroshop.de/ir
Explanations of the key financial indicators used can be downloaded at www.deutsche-euroshop.de/des/pages/index/p/210
Assuming that rental income remains stable, Deutsche EuroShop is expecting revenue to lie within a range of EUR222-226 million in both 2019 and 2020.
The Company is forecasting that earnings before interest and taxes (EBIT) will be between EUR194 and 198 million in both 2019 and 2020.
For 2019, Deutsche EuroShop is raising its forecast for earnings before taxes and measurement gains/losses (EBT excl. measurement gains/losses) slightly from EUR159 to 162 million (previous forecast: EUR158 to 161 million) due to additional interest income in connection with unscheduled tax refunds for previous years. For 2020, EBT excl. measurement gains/losses is expected to come in between EUR161 and 164 million.
For funds from operations (FFO), EUR2.40-2.44 per share is forecast for 2019 and EUR2.43-2.47 per share for 2020.
Based on the results for the financial year 2018, a dividend of EUR1.50 per share, which is 3.4 % or EUR0.05 higher than in the previous year, will be proposed to the Annual General Meeting to be held in Hamburg on 12 June 2019. EUR0.57 per share of the dividend will be subject to a capital gains tax deduction.
Deutsche EuroShop's Executive Board and Supervisory Board also intend to increase the dividend for financial years 2019 and 2020 by EUR0.05 per share in each of those years.
Deutsche EuroShop will publish its financial reports for the current financial year on the following dates after close of trading:
- Q1 Quarterly statement: 15 May 2019
- Interim report: 15 August 2019
- Q3 Quarterly statement: 13 November 2019
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 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many others.
|Company:||Deutsche EuroShop AG|
|Phone:||+49 (0)40 413 579-0|
|Fax:||+49 (0)40 413 579-29|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||804539|
|End of News||DGAP News Service|