DGAP-News

Deutsche EuroShop: Start to the new financial year according to plan

DGAP-News: Deutsche EuroShop AG / Key word(s): Quarter Results/Interim
Report
Deutsche EuroShop: Start to the new financial year according to plan

12.05.2015 / 18:05

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Deutsche EuroShop: Start to the new financial year according to plan

- Revenue: EUR50.6 million (+1%), EBIT: EUR44.6 million (+1%)
- Consolidated profit: EUR25.3 million (+12 %)
- EPRA earnings per share: EUR0.48 per share (+9%)
- FFO: EUR0.57 per share (+4%)
- Forecasts for 2015 confirmed

Hamburg, 12 May 2015 - The shopping center investor Deutsche EuroShop has
published its interim report for the first quarter of 2015 and confirmed
the full-year forecasts issued on 19 March.

Revenue in the first three months of 2015 totalled EUR50.6 million,
representing a small year-on-year rise of 1% (from EUR50.0 million).
Correspondingly, net operating income (NOI) climbed 1% to EUR46.1 million,
while EBIT also rose 1% to EUR44.6 million.

Earnings before taxes and measurement gains/losses increased from EUR30.4
million to EUR31.8 million (+5%). Consolidated profit improved by 12%, from
EUR22.6 million to EUR25.3 million. Claus-Matthias Böge, CEO of Deutsche
EuroShop, declared: "The main factors behind the improved consolidated
profit were a reduction in interest expense, improved measurement gains and
lower taxes."

Correspondingly, earnings per share were also 12% higher, climbing from
EUR0.42 to EUR0.47. Earnings per share calculated on an EPRA basis rose 9%,
from EUR0.44 to EUR0.48. Funds from operations (FFO) improved by 4% from
EUR0.55 to EUR0.57 per share.

Deutsche EuroShop is standing by its recent forecasts for financial year
2015, and expects:

- revenue of between EUR201 million and EUR204 million
- earnings before interest and taxes (EBIT) of between EUR177 million and
EUR180 million
- earnings before taxes (EBT) excluding measurement gains/losses of
between EUR126 million and EUR129 million
- funds from operations (FFO) per share of between EUR2.24 and EUR2.28

The company envisages paying a dividend of EUR1.35 per share for 2015.

Full interim report
The full interim report is available as a PDF document and in ePaper
format. It can be downloaded from www.deutsche-euroshop.com/ir

Internet broadcast of the teleconference
Deutsche EuroShop will hold a conference call in English as a live webcast