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Deutsche EuroShop: New financial year starts as planned

DGAP-News: Deutsche EuroShop AG / Key word(s): Quarterly / Interim Statement/Quarter Results

15.05.2018 / 18:00
The issuer is solely responsible for the content of this announcement.

Deutsche EuroShop: New financial year starts as planned

  • Revenue: EUR56.0 million (+10.5%)
  • EBIT: EUR49.0 million (+10.7%)
  • Consolidated profit: EUR30.4 million (+10.4%)
  • EPRA earnings per share: EUR0.60 per share (±0%)
  • FFO: EUR37.8 million (+9.7 %)

Hamburg, 15 May 2018 - Deutsche EuroShop today published its quarterly statement for the quarter ending 31 March 2018. The shopping center investor's revenue in the first three months of 2018 totalled EUR56.0 million, representing a sharp year-on-year rise of 10.5% (from EUR50.7 million). Net operating income climbed 9.3% to EUR50.1 million, and EBIT rose 10.7% to EUR49.0 million.

Earnings before taxes and excluding measurement gains/losses increased from EUR35.3 million to EUR39.5 million (+12%) and consolidated profit was up 10.4% from EUR27.5 million to EUR30.4 million. Earnings per share dropped from EUR0.50 to EUR0.49 due to the increase in the number of shares from 55.1 million to 61.8 million, while the EPRA earnings per share remained unchanged at EUR0.60. Funds from operations (FFO) also rose sharply by 9.7% to EUR37.8 million, with FFO per share declining slightly from EUR0.62 to EUR0.61.

"With the portfolio's performance remaining stable, much of the growth is attributable to the Olympia Center in Brno/Czech Republic, which wasn't in the portfolio at this time last year," explains Wilhelm Wellner, Deutsche EuroShop's CEO. "A whole year on from its acquisition, the Olympia Center is proving a winner and highly attractive to shoppers and tenants, with tenant sales and customer traffic constantly on the rise."

Deutsche EuroShop is standing by its guidance for financial year 2018, and expects:

  • revenue of between EUR220 million and EUR224 million
  • earnings before interest and taxes (EBIT) of between EUR193 million and EUR197 million
  • earnings before taxes (EBT) excluding measurement gains/losses of between EUR154 million and EUR157 million
  • funds from operations (FFO) per share of between EUR2.35 and EUR2.39

The company forecasts a dividend of EUR1.50 per share for 2018.


Full quarterly statement

The full quarterly statement is available as a PDF document and in ePaper format. It can be downloaded from

Webcast of the teleconference

Deutsche EuroShop will hold a conference call for analysts in English at 10:00 a.m. (CET) on Wednesday, 16 May 2018, which will be carried out as a live webcast on

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 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.

Figures for Deutsche EuroShop (IFRS)

in EUR million   01.01.-31.03.2018   01.01.-31.03.2017   +/-
Revenue   56.0   50.7   10.5%
Net operating income (NOI)   50.1   45.8   9.3%
EBIT   49.0   44.3   10.7%
EBT (excluding measurement gains/losses)   39.5   35.3   12.0%
Consolidated profit    30.4   27.5   10.4%
EPRA earnings per share in EUR   0.60   0.60   0.0%
FFO per share in EUR   0.61   0.62   -1.6%
Earnings per share in EUR   0.49   0.50   -2.0%
in EUR million   31.03.2018   31.12.2017   +/-
Equity   2,607.8   2,574.9   1.3%
Net financial liabilities   2,051.1   2,052.1   -0.1%
Total assets   4,658.9   4,627.0   0.7%
Equity ratio (%)   56.0   55.6    
Loan to value ratio (%)   31.5   32.4    
Cash and cash equivalents   139.9   106.6   31.3%
For explanations regarding the financial figures used, please consult

15.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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