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14.05.2025 18:00:04

EQS-News: Deutsche EuroShop's first quarter on schedule - new impetus from investments

EQS-News: Deutsche Euroshop AG / Key word(s): Quarterly / Interim Statement/Quarter Results
Deutsche EuroShop's first quarter on schedule - new impetus from investments

14.05.2025 / 18:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Deutsche EuroShop's first quarter on schedule - new impetus from investments

  • Slight decline in key operating figures
  • Late Easter creates seasonal effects
  • Opening of the new "Food Garden" in the Main-Taunus-Zentrum
  • Annual forecast confirmed
  • Dividend proposal € 1.00 per share


Hamburg, 14 May 2025 - Shopping center investor Deutsche EuroShop (DES) has started the 2025 financial year as planned. "Our key operating figures developed in line with our expectations in the first quarter," explains Hans-Peter Kneip, CEO of Deutsche EuroShop. "Seasonal effects such as the late Easter date influenced customer behaviour, but should have a positive impact in the second quarter." Compared to the same period of the previous year, footfall in the 21 shopping centers in the DES portfolio fell by 3.4%, while tenant sales also declined by 0.4%.

Consolidated sales rose slightly by 0.4% to € 66.3 million thanks to a higher occupancy rate compared to the same quarter of the previous year as a result of completed modernisation measures and newly concluded rental agreements. At the same time, operating expenses in the centers increased, causing net operating income (NOI) to fall by 1.2% to € 53.1 million. EBIT fell by 1.7% to € 53.4 million, while EBT (excluding valuation) fell by 6.4% to € 39.7 million as a result of higher interest expenses. Consolidated net income decreased by 2.6% to € 31.9 million.

At € 0.51 per share, the key operating figures EPRA Earnings and FFO were both below the level of the same quarter of the previous year (€ 0.57 and € 0.55 respectively).

New opening in the Main-Taunus-Zentrum as a milestone

A particular highlight was the completion and opening of the new "Food Garden" in the Main-Taunus-Zentrum on 10 April 2025. The approximately 9,000 m² catering area was built using sustainable timber construction methods and significantly enhances one of Germany's highest-turnover shopping centers with eight restaurants and varied culinary concepts. The response from customers and tenants to the new offering has been consistently positive.

Annual forecast confirmed

Against the backdrop of the business development in the first quarter of 2025, which was in line with expectations, Deutsche EuroShop confirms its forecast for the full year published in March:

  • Turnover: € 268 to 276 million
  • EBIT: € 209 to 217 million
  • EBT without valuation result: € 150 to 158 million
  • FFO: € 145 to 153 million or € 1.91 to 2.02 per share

Annual General Meeting at the end of June in Hamburg

The Executive Board and Supervisory Board intend to propose a dividend of € 1.00 per share for the 2024 financial year to the Annual General Meeting, which is scheduled to take place on 27 June 2025 as an in-person event in Hamburg. However, the management reserves the right to adjust this proposal if a higher dividend should prove possible and expedient due to the creation of additional liquidity.
 

Complete quarterly statement

The full quarterly statement is available as a PDF file and as an ePaper on the Internet at
www.deutsche-euroshop.com/ir


Deutsche EuroShop - The Shopping Center AG

Deutsche EuroShop is the only public company in Germany to invest exclusively in shopping centers in prime locations. The company currently has investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many others.
 

Key Group figures

             
in € million   01.01.-31.03.2025   01.01.-31.03.2024   +/-
Revenue   66.3   66.0   0.4 %
Net operating income (NOI)   53.1   53.8   -1.2 %
EBIT   53.4   54.4   -1.7 %
EBT (without valuation result1)   39.7   42.4   -6.4 %
EPRA2 Earnings   38.5   43.3   -11.1 %
FFO   38.3   41.8   -8.4 %
Consolidated profit   31.9   32.7   -2.6 %
             
in €   01.01.-31.03.2025   01.01.-31.03.2024   +/-
EPRA2 Earnings per share   0.51   0.57   -8.9 %
FFO per share   0.51   0.55   -7.3 %
Earnings per share   0.42   0.43   -2.3 %
Weighted number of shares with dividend rights6   75,743,854   76,377,874   -0.8 %
             
in € million   31.03.2025   31.12.2024   +/-
Equity3   2,178.2   2,145.7   1.5 %
Liabilities   2,195.4   2,218.7   -1.0 %
Balance sheet total   4,373.6   4,364.4   0.2 %
Equity ratio in %3   49.8   49.2    
LTV ratio in %4   38.5   39.2    
EPRA2LTV in %5   40.2   41.1    
Cash and cash equivalents   221.7   212.4   4.4 %
             
1 Including the share attributable to equity-accounted joint ventures and associates
2 European Public Real Estate Association
3 Including third-party interests in equity
4 Loan-to-value ratio (LTV ratio): Ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to non-current assets (investment properties and financial investments accounted for using the equity method).
5 EPRA loan-to-value ratio (EPRA LTV ratio): Ratio of net debt (financial liabilities and lease liabilities less cash and cash equivalents) to real estate assets (investment properties, owner-occupied properties, intangible assets and other assets (net)). Net debt and real estate assets are calculated on the basis of the Group’s share in the subsidiaries and joint ventures.
6The number of no-par value shares issued takes into account (time-weighted in the comparative period) the treasury shares acquired.


14.05.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2137700

 
End of News EQS News Service

2137700  14.05.2025 CET/CEST

Analysen zu Deutsche Euroshop AG

  • Alle
  • Kaufen
  • Hold
  • Verkaufen
  • ?
15.05.25 Deutsche Euroshop Hold Warburg Research
15.05.25 Deutsche Euroshop Hold Joh. Berenberg, Gossler & Co. KG (Berenberg Bank)
15.05.25 Deutsche Euroshop Add Baader Bank
11.04.25 Deutsche Euroshop Hold Joh. Berenberg, Gossler & Co. KG (Berenberg Bank)
03.04.25 Deutsche Euroshop Add Baader Bank
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