DGAP-News: Deutsche EuroShop AG / Key word(s): Annual Results
Deutsche EuroShop: Presentation of the consolidated annual financial report for 2019
Hamburg, 3 April 2020 - Shopping center investor Deutsche EuroShop AG, Hamburg, today presented the audited results for the 2019 financial year and confirmed the preliminary results published in the middle of March. The consolidated annual financial report is now available for download at www.deutsche-euroshop.com/ir
Explanations of the financial ratios used can be found at www.deutsche-euroshop.de/Investor-Relations/Service/Glossary
Forecast for financial year 2020 withdrawn
Given the still unforeseeable duration of the coronavirus pandemic and business closures, and the increasingly negative effects that these are having on tenants in the shopping centers owned by Deutsche EuroShop (reports of bankruptcies or warnings regarding the liquidity situation), as well as the foreseeable effects of new legal provisions, the Executive Board has already withdrawn the forecast for 2020 published by the company in November 2019, which was already made with caveats on 20 March 2020. It is currently not possible to estimate how events will unfold or what the economic impact for 2020 will be. The Executive Board is continuously assessing the situation, and is taking all necessary measures on this basis. A new forecast will be issued as soon as it is feasible to issue a reliable one.
Return to a continuous dividend policy after the situation has normalised
To further safeguard and strengthen the Company's liquidity, the Executive Board has decided as a precaution to propose to the Annual General Meeting scheduled for 16 June 2020 that the dividend payment be suspended. The Executive Board and the Supervisory Board intend to continue the Company's dividend policy, which is geared towards continuity, once this extraordinary situation has stabilised.
Financial report publication dates in 2020
Deutsche EuroShop will publish its financial reports for the current financial year on the following dates after close of trading:
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 SDAX-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:||1015203|
|End of News||DGAP News Service|