DGAP-News

Deutsche EuroShop: Nine-month results on target - forecasts for 2017 raised slightly following acquisition

DGAP-News: Deutsche EuroShop AG / Key word(s): 9-month figures/Forecast
Deutsche EuroShop: Nine-month results on target - forecasts for 2017 raised
slightly following acquisition

14.11.2016 / 18:20
The issuer is solely responsible for the content of this announcement.

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Deutsche EuroShop: Nine-month results on target - forecasts for 2017 raised
slightly following acquisition

- Revenue: EUR152.3 million, EBIT: EUR131.5 million

- EBT excluding valuation: EUR97.1 million (+3.4%)

- EPRA earnings per share: EUR1.44 (+2.1%)

- FFO: EUR1.74 per share (+3.7%)

- Acquisition of Saarpark Center means increased forecasts for 2017


Hamburg, 14 November 2016 - The stable performance of the shopping center
investor Deutsche EuroShop continued in the third quarter of 2016. On
revenue of EUR152.3 million (+0.8% compared with the same period in the
previous year), net operating income (NOI) was unchanged year on year at
EUR136.0 million, while EBIT was EUR131.5 million (+0.3%).

Earnings before taxes and measurement gains/losses rose from EUR93.9
million to EUR97.1 million (+3.4%), while consolidated profit fell by 1.9%
to EUR72.2 million, or EUR1.34 per share, due to higher investment costs
than in the previous year. "The performance of the operating business has
remained stable," said Wilhelm Wellner, CEO. "Our EPRA earnings per share,
which is the result adjusted for measurement effects, rose by 2.1% to
EUR1.44 per share, while funds from operations (FFO) improved by 3.7% to
EUR1.74 per share."

On the strength of its performance to date, the company is reaffirming its
forecasts for 2016 and making modest upward adjustments for the coming year
to reflect the acquisition this October of the Saarpark Center, which will
be accounted for at equity. The Executive Board now forecasts the following
ranges for 2017:

- Revenue: EUR201 million to EUR205 million (unchanged)

- Earnings before interest and taxes (EBIT): EUR175 million to EUR179
million (unchanged)

- Earnings before taxes (EBT) excluding measurement gains/losses: EUR133
million to EUR136 million (EUR131 million to EUR134 million)

- Funds from operations (FFO) per share: EUR2.38 to EUR2.42 (EUR2.34 to
EUR2.38)

The company still foresees an increase of five cents in the dividend for
2016, to EUR1.40 per share.

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

Webcast of the teleconference

Deutsche EuroShop will hold a conference call for analysts in English at 10