DGAP-News 408 0 Kommentare Deutsche EuroShop: First-half results in line with forecast

DGAP-News: Deutsche EuroShop AG / Key word(s): Half Year
Results/Interim Report
Deutsche EuroShop: First-half results in line with forecast

13.08.2015 / 18:00

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Deutsche EuroShop: First-half results in line with forecast

- Revenue: EUR100.6 million, EBIT: EUR88.2 million

- EBT before measurement: EUR63.6 million (+5.0%)

- Earnings per share: EUR0.92 (+7.0%)

- FFO: EUR1.14 per share (+4.6%)

Hamburg, 13 August 2015 - The shopping centre investor Deutsche EuroShop
recorded net operating income (NOI) of EUR91.8 million (+1.3%) in the first
half of 2015, on revenues of EUR100.6 million (+0.9% year on year). Due to
an exceptional charge, EBIT remained virtually unchanged at EUR88.2 million
- without this effect, EBIT would have risen by EUR0.9 million (1.1%).

Earnings before taxes and measurement (EBT before measurement) increased
from EUR60.6 million to EUR63.6 million (+5.0%). Consolidated profit
improved by 7.2% to EUR49.7 million (2014: EUR46.3 million), taking
earnings per share from EUR0.86 to EUR0.92. EPRA earnings per share, i.e.
the result adjusted for valuation effects, rose from EUR0.91 to EUR0.95 per
share, which corresponds to an increase of 4.4%. Funds from operations
improved by 4.6% from EUR1.09 to EUR1.14 per share.

"These pleasing results are down to the continued strong performance in
operating business and, in particular, the further year-on-year improvement
in net finance costs," explains Wilhelm Wellner, CEO.

The Deutsche EuroShop management team is sticking to its forecast for
financial year 2015 and aims to pay a dividend of at least EUR1.35 per
share for the current year.

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 for analysts in English at 11
a.m. on Friday 14 August 2015, which will be carried as a live webcast on
www.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 19 shopping centers in Germany, Austria, Poland and Hungary.
The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the
Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk.

Figures for Deutsche EuroShop (IFRS)


                                   01.01.-30.06.     01.01.-30.06.
in EUR m                                    2015              2014      +/-

Revenue                                    100.6              99.7      1 %
EBIT                                        88.2              88.3      0 %
Financial result                           -24.7             -28.0     12 %
Valuation gains/losses                      -2.0              -2.9     31 %
EBT                                         61.5              57.4      7 %
Consolidated profit                         49.7              46.3      7 %
FFO per share (EUR)                         1.14              1.09      5 %
Earnings per share (undiluted)              0.92              0.86      7 %

                                      30.06.2015        31.12.2014      +/-

Equity*                                  1,736.0           1,751.2     -1 %
Liabilities                              1,769.0           1,741.0      2 %
Total assets                             3,504.9           3,492.2      0 %
Equity ratio (%)*                           49.5              50.1
LTV ratio (%)                                 41                40
Gearing (%)*                                 102                99
Cash and cash equivalents                   73.3              58.3     26 %

* incl. third-party interests in equity

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service of EQS Group AG.
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Language: English
Company: Deutsche EuroShop AG
Heegbarg 36
22391 Hamburg
Germany
Phone: +49 (0)40 413 579-0
Fax: +49 (0)40 413 579-29
E-mail: ir@deutsche-euroshop.de
Internet: www.deutsche-euroshop.de
ISIN: DE0007480204
WKN: 748020
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart

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386579 13.08.2015