Deutsche Euroshop Newsroom

Corporate News

27.04.2018

Deutsche EuroShop: Presentation of the 2017 Annual Report / Earnings and dividend forecast for 2018 and 2019

Shopping center investor Deutsche EuroShop AG, Hamburg, today presented the audited results for the 2017 financial year and confirmed the preliminary results published at the beginning of March. The annual report published under the motto “Shopping Evolution” is now available for download at www.deutsche-euroshop.com/ir

Figures for Deutsche EuroShop (IFRS)

in € million

2017

2016

+/-

Revenue

218.5

205.1

7%

NOI

197.0

184.7

7%

EBIT

192.4

178.6

8%

Net finance costs

-35.1

-13.9

-153%

Measurement gains / losses

8.6

116.8

-93%

EBT (excluding measurement gains/losses)1

153.3

134.5

14%

EBT

165.8

281.5

-41%

Consolidated profit

134.3

221.8

-39%

FFO per share in €

2.54

2.41

5%

Earnings per share in € 2

2.31

4.11

-44%

EPRA Earnings per share in € 2

2.42

2.29

6%

Equity3

2,574.9

2,240.7

15%

Liabilities

2,052.1

1,873.8

10%

Total assets

4,627.0

4,114.5

12%

Equity ratio in % 3

55.6

54.5


LTV-ratio in %

32.4

34.2


Cash and cash equivalents

106.6

64.0

66%

Net asset value (EPRA)

2,668.4

2,332.6

14%

Net asset value per share in € (EPRA)

43.19

43.24

0%

Dividend per share in € 4

1.45

1.40

4%


1 Including the share attributable to equity-accounted joint ventures and associates
2 undiluted
3 incl. third-party interests in equity
4 2017: proposal
For explanations regarding the financial figures used, please consult
www.deutsche-euroshop.de/des/pages/index/p/210


Forecast for 2018 and 2019

Deutsche EuroShop anticipates revenue of €220-224 million for financial year 2018. In the 2019 financial year, revenue should increase to €222-226 million. 

The Company anticipates that earnings before interest and taxes (EBIT) will be €193-197 million in 2018 and €194-198 million in 2019.

 

Deutsche EuroShop also expects earnings before taxes and valuations (EBT excluding valuations) to be €154-157 million in 2018 and €158-161 million in 2019.

For funds from operations (FFO), €2.35-2.39 per share are expected for 2018 and €2.40-2.44 per share for 2019.

Continuity in the dividend policy as well

Based on the results for the financial year 2017, a dividend of €1.45 per share, which is 3.6% or €0.05 higher than in the previous year, will be proposed to the Annual General Meeting to be held in Hamburg on 28 June 2018. €0.53 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 2018 and 2019 by €0.05 per share in each of those years. “We are continuing our long-term and predictable dividend policy so that our shareholders can continue to participate in the success of our almost fully let shopping center portfolio,” said CEO Wilhelm Wellner.

 

 

Financial report publication dates in 2018

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 2018
  • H1 Interim report: 14 August 2018
  • Q3 Quarterly statement: 14 November 2018

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.

 

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Deutsche EuroShop 3M 2018 Quarterly Statement Conference Call Slide Presentation
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