Deutsche Euroshop Newsroom

Corporate News

15.05.2018

Deutsche EuroShop: New financial year starts as planned

  • Revenue: €56.0 million (+10.5%)
  • EBIT: €49.0 million (+10.7%)
  • Consolidated profit: €30.4 million (+10.4%)
  • EPRA earnings per share: €0.60 per share (±0%)
  • FFO: €37.8 million (+9.7 %)

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 €56.0 million, representing a sharp year-on-year rise of 10.5% (from €50.7 million). Net operating income climbed 9.3% to €50.1 million, and EBIT rose 10.7% to €49.0 million.

 

Earnings before taxes and excluding measurement gains/losses increased from €35.3 million to €39.5 million (+12%) and consolidated profit was up 10.4% from €27.5 million to €30.4 million. Earnings per share dropped from €0.50 to €0.49 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 €0.60. Funds from operations (FFO) also rose sharply by 9.7% to €37.8 million, with FFO per share declining slightly from €0.62 to €0.61.

 

“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 €220 million and €224 million
  • earnings before interest and taxes (EBIT) of between €193 million and €197 million
  • earnings before taxes (EBT) excluding measurement gains/losses of between €154 million and €157 million
  • funds from operations (FFO) per share of between €2.35 and €2.39

The company forecasts a dividend of €1.50 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 www.deutsche-euroshop.com/ir


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 onwww.deutsche-euroshop.com/ir


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 € 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 €


0.60


0.60


0.0%

FFO per share in €


0.61


0.62


-1.6%

Earnings per share in €


0.49


0.50


-2.0%








in € 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 www.deutsche-euroshop.de/des/pages/index/p/210

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