Deutsche Euroshop Newsroom

Ad hoc Disclosure


Deutsche EuroShop AG exceeds result prognosis for 2002

Eschborn / Hamburg, 28 November 2002. Deutsche EuroShop AG expects a projected result from ordinary activities of € 24.6 million for the fiscal year 2002. This corresponds to an increase in relation to the previous year of 36 per cent and to the planning for fiscal year 2002 of eleven per cent or € 2.5 million. The planned balance sheet profit of € 30 million will be used again in total for the payment of a dividend of € 1.92 per share.
Further the company disclosed the acquisition of a 50 per cent stake of the shoppingcenter Pécs Árkád in Hungary. The proportionate investment volume of Deutsche EuroShop AG amounts to approximately € 40 million. The center is under construction and has a lettable space of 34,200 square meters. It will presumably be opened in spring 2004. The occupancy rate already totals to approximately 70 per cent whereof most of the long-term leases were closed with renowned, internationally active retail companies. The shoppingcenter is located at the central traffic junction of the city center of Pécs, which is the fivelargest city of Hungary with 160,000 inhabitants. In the catchment area of the shoppingcenter live one half million inhabitants.

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