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Deutsche EuroShop: successful 2012 financial year and continued growth

Deutsche EuroShop AG / Key word(s): Final Results/Dividend

26.04.2013 / 14:00

Deutsche EuroShop: successful 2012 financial year and continued growth

- Final results for 2012 financial year released

- Dividend proposal: Increase to EUR1.20 per share

- Acquisition of remaining shares (33%) in Altmarkt-Galerie Dresden

Hamburg, 26 April 2013 - Shopping center investor Deutsche EuroShop AG, Hamburg, released its 2012 financial report today. Prepared under the motto 'Hamburg3', the annual report is now available for download at

Figures for Deutsche EuroShop (IFRS)

in EUR millions 2012 2011 +/-
Revenue 211.2 190.0 +11%
EBIT 181.0 165.7 +9%
Net finance costs -86.0 -79.1 -9%
Measurement gains/losses 8.5 50.1 -83%
EBT 103.5 136.7 -24%
Consolidated profit 122.5 99.0 +24%
FFO per share in EUR 1.66 1.61 +3%
EPRA* earnings per share in EUR 1.35 1.19 +13%
Equity** 1,606.1 1,473.1 +9%
Liabilities 1,942.8 1,752.0 +11%
Total assets 3,548.9 3,225.1 +10%
Equity ratio (%)** 45.3 45.7  
LTV ratio (%) 44 45  
Gearing (%)** 121 119  
Cash and cash equivalents 167.5 64.4 +160%
Net asset value (EPRA*) 1,538.9 1,427.3 +8%
Net asset value per share in EUR (EPRA*) 28.53 27.64 +3%
Number of shares at year-end 53,945,536 51,631,400 +4%
Weighted average number of shares 51,934,893 51,631,400 +1%
Dividend per share in EUR 1.20*** 1.10 +9%
* European Public Real Estate Association
** incl. third-party interests in equity
*** proposal to the AGM

Dividend increase

Based on these results, a proposal will be submitted to the Annual General Meeting on 20 June 2013 in Hamburg for the distribution of a dividend in the amount of EUR1.20, which represents an increase of EUR0.10 or 9% over the previous year. For the first time, an amount of EUR0.31 per share of the dividend will be subject to the deduction of capital gains tax.

Altmarkt-Galerie Dresden: 100%

As of 1 May 2013, Deutsche EuroShop will acquire a stake of 33% in the Altmarkt-Galerie in Dresden from TLG Immobilien and thus gain sole ownership of the shopping center. The investment volume is EUR132 million, while the net initial yield is at about 5.4%.

'The Altmarkt-Galerie is one of our flagship centers and we have been pleased with it from the very beginning,' said Claus-Matthias Böge, Executive Board Spokesman for Deutsche EuroShop. 'Boasting more than 200 shops on some 44,000 m² of retail space, the Altmarkt-Galerie provides jobs for around 2,000 people and draws in excess of 16 million visitors a year.'

Financial report publication dates in 2013

Deutsche EuroShop will publish its financial reports for the current financial year after the close of trading on the following dates:

- Interim report Q1: 15 May 2013
- Half-year financial report: 14 August 2013
- Nine-month report: 13 November 2013

The Annual General Meeting will be held in Hamburg on 20 June 2013.

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 20 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, among many others.

Deutsche EuroShop AG
Investor & Public Relations
Patrick Kiss
Heegbarg 36
22391 Hamburg

Tel. +49-(0)40-413579-20
Fax +49-(0)40-413579-29
ISIN: DE 000 748020 4

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