Deutsche EuroShop: 2023 Financial Year Sees Surge in Operating Business

• Deutsche EuroShop AG reported significant growth in 2023, with customer footfall and tenant sales increasing by 5.7% and 8.6% respectively compared to 2022.
• The company's operating earnings increased, but consolidated profit was down due to measurement losses from higher interest rates.
• The company's revenue slightly increased to €273.3 million (+3.2% like-for-like), and earnings before interest and taxes (EBIT) were €212.7 million, 9.5% higher than the previous year.
• The company experienced a measurement loss of €209.1 million in 2023 due to higher interest rates negatively impacting the valuation of the Group’s real estate assets.
• The company reported a consolidated loss of €-38.3 million in 2023, after a consolidated profit of €30.4 million in the previous year.
• For the financial year 2024, the company is providing full guidance for the four most important key indicators: Revenue (€268 million to €274 million), EBIT (€204 million to €210 million), EBT excluding measurement gains/losses (€149 million to €155 million), and FFO (€146 million to €152 million, or €1.91 to €1.99 per share).

The next important date, Bank of America EMEA Real Estate CEO Conference, London, at Deutsche Euroshop is on 20.03.2024.

The price of Deutsche Euroshop at the time of the news was 19,160EUR and was up +0,84 % compared with the previous day.

Deutsche Euroshop

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ISIN:DE0007480204WKN:748020

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