Deutsche EuroShop Boosts Annual Forecast After Strong Nine-Month Results

• Deutsche EuroShop AG has slightly raised its full-year forecast based on positive nine-month figures, with stable visitor numbers (+0.2%) and a 1.9% increase in retail sales.
• Investment projects in several shopping centers have been completed on time and within budget, with new shops successfully opened, and the Main-Taunus-Zentrum's new Food Garden is set to open in spring 2025.
• Despite a 1.6% decline in revenue due to temporary vacancies from construction work, the company is optimistic about the fourth quarter with new tenants contributing to results.
• Key financial metrics such as Net Operating Income (NOI), EBIT, and EBT have increased, with consolidated net income growing by 20.9% to €82.5 million, mainly due to improved valuation results.
• EPRA earnings and funds from operations have decreased due to one-off income in the previous year, with EPRA earnings down by 6.2% and FFO down by 7.7%.
• The full-year forecast for 2024 has been specified and increased, with revenue expected between €268 to 271 million, EBIT between €207 to 211 million, EBT between €156 to 160 million, and FFO between €151 to 155 million.

The next important date, Quarterly Report 9M 2024, at Deutsche Euroshop is on 14.11.2024.

The price of Deutsche Euroshop at the time of the news was 20,600EUR and was up +5,91 % compared with the previous day.
At this time, the index SDAX was at 13.367,18PKT (+0,99 %).

Deutsche Euroshop

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ISIN:DE0007480204WKN:748020

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