|
EQS-News: Deutsche EuroShop AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
Deutsche EuroShop: Start to the year with rising footfall numbers and tenant sales
However, as Deutsche EuroShop is carrying out refurbishments in several of its centers in the 2024 financial year, the temporarily vacant shop space led to slightly lower revenue of € 66.0 million (-2.6%) than in the same quarter of the previous year. As soon as the space has been completed and handed over to the tenants, its contribution to revenue will have a positive impact. As expected, net operating income (NOI) fell slightly by 1.4%. Earnings before interest and taxes (EBIT) and earnings before taxes and measurement gains/losses (EBT excluding measurement gains/losses) improved significantly by 22.8% to € 54.4 million and 31.0% to € 42.4 million respectively, while consolidated profit rose by 23.2% to € 32.7 million. In the same quarter of the previous year, there were one-off effects on earnings from the acquisition of further shares in six property companies. EPRA earnings per share and funds from operations (FFO) fell from € 0.62 to € 0.57 per share and from € 0.62 to € 0.55 per share respectively. In the same quarter of the previous year, both key figures benefited from one-off income from service charge settlements and the reversal of impairment losses. New buildings in the Main-Taunus-Zentrum and Rhein-Neckar-Zentrum The investment projects in the DES shopping centers are progressing according to plan. The topping-out ceremony for the new "Food Garden" in the Main-Taunus-Zentrum in Sulzbach near Frankfurt am Main was celebrated on 25 April 2024. The new gastronomic offering in one of the largest, highest-turnover and most successful shopping centers in Germany for decades is thus taking shape. The opening of the new, sustainably constructed timber building is planned for spring 2025. The "Food Garden" is already fully let more than a year before the opening, with a wide range of catering concepts and a high-quality tenant mix. The expansion of the Rhein-Neckar-Zentrum in Viernheim near Mannheim with new retail, gastronomy and entertainment offerings is also progressing rapidly with the first successful new openings in February and April 2024. Annual General Meeting on 29 August 2024 The Executive Board and Supervisory Board intend to propose a dividend of € 0.80 per share for the 2023 financial year to the Annual General Meeting scheduled for 29 August 2024 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. In order to ensure that the results of the current loan negotiations can be adequately taken into account when finalising the dividend proposal, the Executive Board and Supervisory Board have decided to hold the Annual General Meeting originally planned for 25 June 2024 in Hamburg on 29 August 2024.
Complete quarterly statement The full quarterly statement is available as a PDF file and as an ePaper on the Internet at
Deutsche EuroShop – The Shopping Center Company 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.
14.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1903073 |
| End of News | EQS News Service |
|
|
1903073 14.05.2024 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
