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05.2016
COMPANY PRESENTATION
EQUITY STORY COMPANY
Company Presentation
2May 2016
Deutsche EuroShop is
Germany´s only public
company that invests
solely in shopping centers
Shopping centers are
attractive investments
because of
 Continuously positive
development of rents
 Stable long term
growth
 Prime locations
 High quality standards
Deutsche EuroShop
does not seek short-term
success, but rather long-
term growth and the re-
sulting stable increase in
the value of the portfolio
AT A GLANCE
1 100%-view
Lettable space Approx. 947,000 sqm
Retail shops Approx. 2,375
Market value Approx. €4.3 billion1
Rents per year €260 million1
Occupancy rate 99%
Avg. lettable space per
DES-center: inner city
39,225 sqm est.
Locations 100,900 sqm
COMPANY
May 2016
Company Presentation
3
19 shopping centers on
high street and in
established locations –
16 in Germany and one
each in Austria, Hungary
and Poland
2015 portfolio valuation:
approx. 5.5% net initial
yield (before transaction
costs)
Professional center
management by ECE,
the European market
leader in this industry
KEY FIGURES
1 2012 – 2015, Compound Annual
Growth Rate (CAGR)
2 Proposal
COMPANY
REVENUE EBIT FFO
€m €m €m
NUMBER OF SHARES DIVIDEND PER SHARE NAV PER SHARE (EPRA)
mn € €
178.2
188.0
200.8 202.9
2012 2013 2014 2015
151.6
165.8 177.5 176.3
2012 2013 2014 2015
87.0
112.0
120.5 123.4
2012 2013 2014 2015
+12.4%1
53.95 53.95 53.95 53.95
2012 2013 2014 2015
1.20
1.25
1.30
2012 2013 2014 2015
28.53 30.59
33.17
39.12
2012 2013 2014 2015
1.352
+0%1 +4.0%1 +11.1%1
May 2016
Company Presentation
4
+5.2%1+4.4%1
0%
1%
2%
3%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
German inflation
avg. 1.5%
DES´ like-for-like revenue
avg. 1.8%
LEASE SYSTEM
1 Status: 31 Dec. 2014
2 incl. VAT
3 Status: 31 Dec. 2015
 10 years lease
 No break-up option
 Turnover-linked rents
 Minimum rents are CPI-linked
 Avg. retail space rent per sqm and year: €250
 Avg. turnover per sqm and year (productivity) in DES shopping centers: €4,450
(avg. German retail: €3,463, avg. German shopping centers: €3,9721,2
 Rent-to-sales-ratio: 7 – 11%
 Weighted maturity of rental contracts: 6.2 years3
LIKE-FOR-LIKE REVENUE
COMPANY
May 2016
Company Presentation
5
TARGETS
May 2016
Company Presentation
6
COMPANY
Long term net
asset value
enhancement
Main focus on
NAV and dividend
“Buy & hold”-
strategy,
Continuous
growth
Stable and
attractive
dividends
Dividend yield:
currently 3.3%
Investment-focus:
At least 75%
Germany and up
to 25% Europe
Portfolio extension
 By acquisition of new shopping
centers
 By increasing existing amounts
of holdings
 By expansion of portfolio centers
SHOPPING CENTERS
Germany
Austria
Poland
Hungary
May 2016
Company Presentation
7
Source: JLL
GERMAN PRIME SHOPPING CENTER YIELDS 2005-16E
SHOPPING CENTERS
May 2016
Company Presentation
8
0
1
2
3
4
5
6
7
Q42005
Q22006
Q42006
Q22007
Q42007
Q22008
Q42008
Q22009
Q42009
Q22010
Q42010
Q22011
Q42011
Q22012
Q42012
Q22013
Q42013
Q22014
Q42014
Q22015
Q42015
Q22016
Q42016
HCN
6.1%
SGP
5.5%
A10
6.5%
BCH
6.0%
ACM
5.9%
German shopping
center prime yields
Euro Swap
Rate
Forecast
Compression Decompression Polarisation Compression
%
EXTENSIONS & FOOD COURTS
SHOPPING CENTERS
Phoenix-Center Hamburg, extension (retail space +9%) and
food court (300 seats),opened March 2016, DES investment
approx. €15 million, expected yield: 6%
City-Point Kassel, food court (200 seats), opened November
2015, DES investment approx. €4.5 million, expected yield:
7.5%
To be decided in 2017: Galeria Baltycka Gdansk, extension
(retail space +37%), DES investment approx. €50 million
May 2016
Company Presentation
9
GERMANY
A10
Center
Main-Taunus-
Zentrum
Altmarkt-
Galerie
Rhein-Neckar-
Zentrum
Location Wildau/Berlin Sulzbach/Frankfurt Dresden Viernheim/Mannheim
Investment 100% 52.0% 100% 100%
Lettable space
sqm
124,700 124,000 77,000 69,500
Parking 4,000 4,500 500 3,800
Number of shops Approx. 200 Approx. 170 Approx. 200 Approx. 110
Occupancy rate 100% 100% 99% 99%
Catchment
area
Approx. 1.1 m.
inhabitants
Approx. 3.1 m.
inhabitants
Approx. 2.1 m.
inhabitants
Approx. 1.5 m.
inhabitants
Visitors 2015 6.90 m. 8.20 m. 14.80 m. 7.80 m.
Opening/
refurbishment
1996/2011 1964/2004/2011 2002/2011 1972/2002
SHOPPING CENTERS
May 2016
Company Presentation
10
GERMANY
Herold-
Center
Allee-
Center
Billstedt-
Center
Phoenix-
Center
Location Norderstedt Magdeburg Hamburg Hamburg
Investment 100% 50.0% 100% 50.0%
Lettable space
sqm
54,200 51,300 42,600 43,300
Parking 850 1,300 1,500 1,400
Number of shops Approx. 140 Approx. 150 Approx. 110 Approx. 130
Occupancy rate 96% 98% 98% 99%
Catchment
area
Approx. 0.5 m.
inhabitants
Approx. 0.8 m.
inhabitants
Approx. 1.0 m.
inhabitants
Approx. 0.6 m.
inhabitants
Visitors 2015 11.50 m. 9.50 m. 10.10 m. 9.20 m.
Opening/
refurbishment
1971/1995/2003 1998/2006 1969/1977/1996 2004/2016
SHOPPING CENTERS
May 2016
Company Presentation
11
GERMANY
Forum
Allee-
Center
City-
Galerie
Rathaus-
Center
Location Wetzlar Hamm Wolfsburg Dessau
Investment 65.0% 100% 100% 100%
Lettable space
sqm
34,300 34,000 30,800 30,100
Parking 1,700 1,300 800 850
Number of shops Approx. 110 Approx. 90 Approx. 100 Approx. 90
Occupancy rate 99% 99% 100% 98%
Catchment
area
Approx. 0.5 m.
inhabitants
Approx. 0.7 m.
inhabitants
Approx. 0.5 m.
inhabitants
Approx. 0.5 m.
inhabitants
Visitors 2015 7.60 m. 6.80 m. 7.70 m. 5.60 m.
Opening/
refurbishment
2005 1992/2003/2009 2001/2006 1995
SHOPPING CENTERS
May 2016
Company Presentation
12
GERMANY
City-
Arkaden
City-
Point
Stadt-
Galerie
Stadt-
Galerie
Location Wuppertal Kassel Passau Hameln
Investment 100% 100% 75.0% 100%
Lettable space
sqm
28,600 27,700 27,700 26,000
Parking 650 220 500 500
Number of shops Approx. 80 Approx. 60 Approx. 90 Approx. 100
Occupancy rate 99% 100% 100% 99%
Catchment
area
Approx. 0.8 m.
inhabitants
Approx. 0.8 m.
inhabitants
Approx. 1.2 m.
inhabitants
Approx. 0.4 m.
inhabitants
Visitors 2015 8.90 m. 8.60 m. 8.20 m. 5.70 m.
Opening/
refurbishment
2001/2004 2002/2009/2015 2008 2008
SHOPPING CENTERS
May 2016
Company Presentation
13
EUROPE
Galeria
Bałtycka
City
Arkaden Árkád
Location Gdansk, Poland Klagenfurt, Austria Pécs, Hungary
Investment 74.0% 50.0% 50.0%
Lettable space
sqm
48,700 36,900 35,400
Parking 1.050 880 850
Number of shops Approx. 195 Approx. 120 Approx. 130
Occupancy rate 100% 100% 97%
Catchment
area
Approx. 1.1 m.
inhabitants
Approx. 0.4 m.
inhabitants
Approx. 1.0 m.
inhabitants
Visitors 2015 9.80 m. 5.60 m. 12.40 m.
Opening/
refurbishment
2007 2006 2004
SHOPPING CENTERS
May 2016
Company Presentation
14
OUR TENANTS1
1 Selection of our well known tenants
SHOPPING CENTERS
May 2016
Company Presentation
15
TENANTS STRUCTURE TOP 10 TENANTS1
1 in % of total rents as at 31 Dec. 2015
2 2015: excluding Kaufhof
3 2015: perfume stores only
SHOPPING CENTERS
2015 2014
Metro Group2 4.5% 5.6%
H&M 3.4% 3.2%
New Yorker 2.3% 2.4%
Douglas Group3 2.1% 3.8%
Peek &
Cloppenburg
2.1% 2.1%
Deichmann 1.8% 1.9%
REWE 1.6% 1.6%
C&A 1.5% 1.5%
Inditex Group 1.2% 1.3%
Esprit 1.2% 1.2%
Total 21.7% 24.6%
78%
22%
Other tenants
Company Presentation
16
Low level of dependence
on the top 10 tenants
May 2016
MATURITY DISTRIBUTION OF RENTAL CONTRACTS1
1 as % of rental income as at
31 Dec. 2015
SHOPPING CENTERS
2021 et sqq:
65%
2020:
6%
2019:
6%
2018:
8%
2017:
10%
2016:
5%
Company Presentation
17
 Long-term contracts guarantee rental income
 Weighted maturity 6.2 years
May 2016
SECTOR MIX1
1 as % of rental space as at
31 Dec. 2015
Balanced sector diversification
Fashion
51%
Non-food/
electronics
19%
Department stores
11%
Food
7%
Health &
beauty
6%
Catering
4%
Services
2%
SHOPPING CENTERS
May 2016
Company Presentation
18
KEY FIGURES 2015
1 incl. non controlling interests
FINANCIALS€ Million 01.01. – 31.12.2015 01.01. – 31.12.2014 Change
Revenue 202.9 200.8 1%
Net operating income 183.5 181.8 1%
EBIT 176.3 177.5 -1%
Net finance costs -2.1 -39.8 95%
Measurement gains/losses 220.6 77.0 186%
EBT 394.7 214.7 84%
Consolidated profit 309.3 177.4 74%
FFO per share (€) 2.29 2.23 3%
EPRA Earnings per share (€, undiluted) 1.89 1.84 3%
€ Million 31.12.2015 31.12.2014 Change
Total equity1 2,061.0 1,751.2 18%
Financial liabilities 1,407.6 1,430.1 -2%
Other debt (incl. Deferred taxes) 383.0 310.9 23%
Total assets 3,851.6 3,492.2 10%
Net financial liabilities 1,336.9 1,371.8 -3%
Equity ratio1 53.5% 50.1%
LTV ratio 35.5% 40.0%
Gearing1 87 99
May 2016
Company Presentation
19
5.39 5.40
5.64
5.80 5.89 5.92 5.98 5.97 5.87
5.46
5.13 5.14
5.37 5.52 5.61 5.64 5.70 5.69
5.53
5.13
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Net operating yield in % Net initial yield in %
VALUATION1 – INVESTMENT PROPERTIES 2015
1 External appraisers:
Until 2014: Feri Research
and GfK GeoMarketing
Since 2015: JLL
SENSITIVITY ANALYSIS
in € thousand Basis change of -25bps change of +25bps
Rent increase rates 1.14% -101,100 +129,100
Discount rate 6.11% +62,400 -64,100
Capitalization rate 5.33% +99,400 -96,800
Cost ratio 10.70% +7,700 -10,200
FINANCIALS
Company Presentation
20May 2016
LOAN STRUCTURE INCL. CONVERTIBLE BONDS1,2,3
1 as of 31 Dec. 2015
2 excl. non-consolidated loans
FINANCIALSInterest
lockin Duration
Principle amounts
(€ thousand)
Share of
total loan
avg.
interest rate
Up to 1 year 45.5 3.8% 2.10%
1 to 5 years 3.8 565.4 40.2% 3.87%
5 to 10 years 6.8 707.4 50.3% 3.34%
Over 10 years 11.8 87.0 6.2% 5.08%
Total 2015 5.9 1,405.3 100% 3.69%
4.59
4.16
3.88 3.76 3.69
0
1
2
3
4
5
6
7
8
3,50
4,00
4,50
5,00
5,50
6,00
2011 2012 2013 2014 2015
avg. Interest rates weighted maturities
yrs%
 21 German Banks
 Weighted maturity
of fixed interest
periods 5.9 years
Company Presentation
21May 2016
MATURITIES UNTIL 20211,2
1 as of 31 Dec. 2015
2 excl. non-consolidated loans
in €
thousand
end of fixed interest
periods respectively
expiring loans
avg. interest
rate
regular
redemption
payments
total
maturities
2016 79,800 4.92% 17,100 96,900
2017 96,100 1.75% 16,500 112,600
2018 72,100 4.60% 17,800 89,900
2019 123,100 4.73% 14,700 137,800
2020 134,100 4,52% 10,100 144,200
2021 198,300 4,48% 8,200 206,500
398,600
FINANCIALS
Company Presentation
22May 2016
Non-consolidated loans1
In € thousand
End of fixed interest
periods respectively
expiring loans
Avg. interest
rate
DES‘
share
2016 144,900 4.94% 50%
2017-2021 0
City-Arkaden, Klagenfurt:
€91.8m; 4.30% interest rate
fixed: 2.18% (15y)
Phoenix-Center, Hamburg:
€53.1m; 6.06% interest rate
fixed: 1,83% (10y)
99,0
100,0
101,0
102,0
103,0
104,0
105,0
106,0
107,0
108,0
109,0
Apr-10
Jun-10
Aug-10
Oct-10
Dec-10
Feb-11
Apr-11
Jun-11
Aug-11
Oct-11
Dec-11
Feb-12
Apr-12
Jun-12
Aug-12
Oct-12
Dec-12
Feb-13
Apr-13
Jun-13
Aug-13
Oct-13
Dec-13
Feb-14
Apr-14
Jun-14
Aug-14
Oct-14
Dec-14
Feb-15
Apr-15
Jun-15
Aug-15
Oct-15
Dec-15
Feb-16
GERMAN CONSUMER PRICE INDEX
Source: Destatis
May 2016
Company Presentation
23
FINANCIALS
2016105,5
106,0
106,5
107,0
107,5
1.66 2.08 2.23 2.29
2.26-2.30 2.34-2.383
2012 2013 2014 2015 2016 2017
FORECAST
FINANCIALS
May 2016
Company Presentation
24
1 Compound Annual Growth Rate
(CAGR) 2012 - 2017
2 Excl. capital gain
3 Undiluted
95.1 113.4 125.0 127.0
127-130 131-134
151.6 165.8 177.5 176.3
175-179 175-179
178.2 188.0 200.8 202.9
200-204 201-205
REVENUE
EBIT
EBT EXCLUDING VALUATION2
FFO PER SHARE
+0%
+0%
+3%
+4%
+19
+25%
+10%
+7%
+1%
-1%
+2%
+3%
+0%+7%
+9% +0%
+1%
+0%
€m
€m
€m
€
+5%
+7%
CAGR1: +3%
CAGR1: +3%
CAGR1: +7%
CAGR1: +7%
0.96 0.96
1.00
1.05 1.05 1.05 1.05
1.10 1.10
1.20
1.25
1.303
1.357
1.407
19.26
23.73
28.08
23.50 24.30 23.67
28.98
24.80
31.64 31.83
36.20
40.46 39.93 40.69
10,00
15,00
20,00
25,00
30,00
35,00
40,00
45,00
0,90
1,00
1,10
1,20
1,30
1,40
1,50
1,60
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
DIVIDEND & PERFORMANCE
1 respectively paid for the previous FY
2 2016: as of 29 April 2016
3 paid on 19 June 2015
4 as of 31 Dec. 2015
5 EPRA/NAREIT Europe
6 German government bonds index
7 proposal
8 Open ended real estate funds
TREND OF SHARE (INDEXED)
Dividend1 Share price2
PERFORMANCE4
DES DAX EPRA5 REX6 OEF8
1 year (2015) +15.3% +9.6% +20.0% +0.5% +3.3%
3 years +41.8% = +12.3% p.a. +12.2% p.a. +18.5% p.a. +2.3% p.a. +2.2% p.a.
5 years +67.4% = +10.8% p.a. +9.2% p.a. +14.3% p.a. +4.0% p.a. +2.3% p.a.
Since IPO (2001) +285.4%= +9.4% p.a. +3.5% p.a. +8.9% p.a. +4.7% p.a. +3.4% p.a.
SHARE
May 2016
Company Presentation
25
SHAREHOLDER STRUCTURE1
1 Status: 14 April 2016
Institutional
Investors
55.5%
Private
Investors
19.5%
Alexander Otto
17.4%
BlackRock 4.2%
US 8%
Germany 59%
NL 8%
BE 2%
GB 9%
FR 7%
Other 1%
NO 2%
CH 4%
 10,200 shareholders
 Free float 82.6% SHARE
May 2016
Company Presentation
26
Johannes Schorr 3.4%
ANALYSTS‘ CONSENSUS1
1 Aggregated by DES
2 According to Bloomberg as
of April 2016
avg./in € 2016 2017
EBIT (€ million) 181.4 184.3
FFO per share 2.31 2.38
NAV per share 40.34 41.99
Dividend 1.40 1.45
Price target 43.18
Status: 20 April 2016
 24 analysts: one of the
best covered real estate
companies in Europe2
SELL UNDERPERFORM NEUTRAL OUTPERFORM BUY
 Green
Street
Advisors
 UBS
 BofA Merrill
Lynch
 Commerz-
bank
 Deutsche
Bank
 Hamburger
Sparkasse
 HSBC
 Independent
Research
 BHF Bank
 Equinet
 ABN Amro
 Baader Bank
 Bankhaus Lampe
 Berenberg Bank
 DZ Bank
 Kepler Cheuvreux
 Natixis
 Societe Generale
 J.P. Morgan
Cazenove
 Kempen & Co
 Metzler
 M.M. Warburg
 NORD/LB
 Oddo Seydler
0%
50%
100%
Q204
Q304
Q404
Q105
Q205
Q305
Q405
Q106
Q206
Q306
Q406
Q107
Q207
Q307
Q407
Q108
Q208
Q308
Q408
Q109
Q209
Q309
Q409
Q110
Q210
Q310
Q410
Q111
Q211
Q311
Q411
Q112
Q212
Q312
Q412
Q113
Q213
Q313
Q413
Q114
Q214
Q314
Q414
Q115
Q215
Q315
Q415
Q116
Q216
negative neutral positive
SHARE
May 2016
Company Presentation
27
10 REASONS TO INVEST
SHARE
The only public
company in
Germany to
invest solely in
shopping centers
Prime
locations
Proven,
conservative
strategy
Shareholder-
friendly dividend
policy
Stable cash flow
with long term
visibility
01 02 03 04 05
Experienced
management
team
Excellent track
record
Centers almost
100% let
Solidity combined
with growth
potential
Inflation-
protected rental
agreements
06 07 08 09 10
May 2016
Company Presentation
28
KEY DATA OF THE SHARE
APPENDIX
Listed since 02.01.2001
Nominal capital €53,945,536.00
Outstanding shares 53,945,536
Class of shares Registered shares
Dividend 2015 (proposal) €1.35
52W High €48.00
52W Low €35.76
Share price (29 April 2016) €40.69
Market capitalisation €2.20 billion
Avg. turnover per day last 12 months (XETRA) 151,340 shares
Indices
MDAX, EPRA, GPR, MSCI Small Cap,
EURO STOXX, STOXX Europe 600
Official market
Prime Standard
Frankfurt and XETRA
OTC market
Berlin-Bremen, Dusseldorf, Hamburg,
Hanover, Munich and Stuttgart
ISIN DE 000 748 020 4
Ticker DEQ, Reuters: DEQGn.DE
Market maker Oddo Seydler
May 2016
Company Presentation
29
KEY DATA OF THE CONVERTIBLE BOND 1.75% 2017
1 Originally €35.10, adjusted on 21 June
2013,19 June 2014 and 19 June 2015
APPENDIX
Amount €100 million
Principal amount €100,000 per Bond
Issue date 20 Nov. 2012
Maturity date 20 Nov. 2017
Coupon 1.75%
Price (29 April 2016) 131.60%
Interest payment date
payable semi-annually in arrear on
21 May and 21 November in each year
Conversion price €31.651
Dividend protection
Conversion Price adjustment for any dividends
paid (full dividend protection)
ISIN DE 000 A1R 0W0 5
Listing
Open Market (Freiverkehr) segment of the
Frankfurt Stock Exchange
May 2016
Company Presentation
30
RETAIL TURNOVER 20151
1 German centers on a like-for-like basis
(turnover: €2.0 billion)
APPENDIX
May 2016
Company Presentation
31
Retail sector
% change
in 2015
rent-to-sales
ratio in %
% of
sales
% of
space
Department stores -1.9 6.0 7.9 13.6
Food -0.5 7.5 9.1 6.3
Fashion textiles -1.4 12.2 30.1 39.7
Shoes & leather goods -2.8 14.3 5.3 6.3
Sports -0.5 8.9 4.1 4.7
Health & beauty 2.9 7.1 11.7 5.9
General retail -0.9 10.9 8.6 9.3
Electronics 0.8 4.2 14.1 8.6
Services 3.3 4.5 4.6 1.5
Food catering 2.4 12.9 4.5 4.1
Total -0.2 9.1 100.0 100.0
 Retail turnover development on a like-for-like basis: Germany -0.2%, abroad +1.5%
DES-Portfolio overall: +0.0%
 Absolute turnover development: Germany -0.1%, abroad +2.8%
DES-Portfolio overall: +0.3%
GFK CONSUMER CLIMATE INDICATOR1
1 As at: March 2016, source: GfK
APPENDIX
May 2016
Company Presentation
32
ONLINE VS. STATIONARY RETAIL?
Source: GfK
TURNOVER DISTRIBUTION OF A FASHION RETAILER
Pure online
purchases
Order in shop,
dispatch by post
Order online, pickup
in shop (click & collect)
Online search,
purchase in shop
Pure shop purchases
 Stationary retail transforms from “Point of Purchase” to “Touch Point” (product experience)
 New store concepts (flagship store, show room, multi-channel store, pick-up store),
click & collect, augmented reality, online goes offline, mobile services
 “Location, location, location” newly interpreted: “Convenience, attractivity & likeability“
May 2016
Company Presentation
33
APPENDIX
OUR PARTNER:
APPENDIX
 ECE develops, plans, builds, leases and manages large commercial real estate in the
sectors shopping, office, industries since 1965
 originally ECE was an abbreviation for the German word
Einkaufscenterentwicklung (Shopping center development)
 100% privately owned by the Otto family
 Active in 14 European countries
 European market leader in the shopping center business
 Assets under management:
− 196 shopping centers
− 7.2 million sqm overall sales area
− approx. 21,000 retail businesses
− 4.5 million daily visitors
− €30 billion assets under management
Many investors rely on ECE:
May 2016
Company Presentation
34
ENVIRONMENT
 Climate protection is one of the most important issues for Deutsche EuroShop. We believe that
sustainability and profitability, the shopping experience and environmental awareness are not
opposing forces. Long-term thinking is part of our strategy. This includes playing our part in
environmental protection
 In 2015, all our German shopping centers had contracts with suppliers that use renewable energy
sources, such as hydroelectric power, for their electricity needs. The “EnergieVision” organisation
certified the green electricity for our centers in Germany with the renowned “ok-power” accreditation
in 2015. We also plan to switch our centers in other countries over to green electricity wherever
possible within the next few years
 The German centers used a total of around 66.6 million
kWh of green electricity in 2015. This represented 100%
of the electricity requirements in these shopping
centers. Based on conservative calculations, this meant
a reduction of around 21,760 tonnes in carbon dioxide
emissions, which equates to the annual CO2 emissions
of around 1,000 two-person households. The use of
heat exchangers and energy-saving light bulbs allows
us to further reduce energy consumption in our
shopping centers
 Deutsche EuroShop, through its shopping centers, also
supports a range of activities at local and regional level
in the areas of ecology, society and economy
APPENDIX
May 2016
Company Presentation
35
FINANCIAL CALENDAR
APPENDIX
May 2016
Company Presentation
36
28.04. Publication of the Annual Report 2015
12.05. Quarterly Statement 3M
26.05.
Kempen European Property Seminar,
Amsterdam
01.06.
Kepler Cheuvreux German Property Day,
Paris
01.06. Roadshow Warsaw, Erste Securities Polska
08.06.
Deutsche Bank dbAccess German Swiss &
Austrian Conference, Berlin
15.06. Annual General Meeting, Hamburg
01.07. ESN equinet European Conference, Frankfurt
07.07. Roadshow London, Societe Generale
07.07. Roadshow Zurich, Bankhaus Lampe
08.07. Roadshow Cologne-Dusseldorf, DZ Bank
08.07. Roadshow Stuttgart, ESN equinet
12.07. DSW Private Investors Forum, Frankfurt
15.08. Half-year Financial Report
17.08. Roadshow Helsinki, ESN equinet
2016
13.09.
Bank of America Merrill Lynch Global Real
Estate Conference, New York
14.09. UBS Best of Germany Conference, New York
19.09.
Goldman Sachs & Berenberg German
Conference, Munich
20.09. Baader Investment Conference, Munich
04.-06.10. EXPO Real, Munich
10.10. Roadshow Madrid, M.M. Warburg
13.10. Roadshow Brussels, DZ Bank
14.11. Quarterly Statement 9M
16.11. Roadshow Amsterdam, ABN AMRO
16.11. Roadshow Geneva, Kepler Cheuvreux
17.11. Roadshow Zurich, Kepler Cheuvreux
22.11. German Equity Forum, Frankfurt
CONTACT
This presentation
is a FSC certified product
APPENDIX
NICOLAS LISSNER
Manager Investor & Public
Relations
OLAF BORKERS
Chief Financial Officer
WILHELM WELLNER
Chief Executive Officer
PATRICK KISS
Head of Investor & Public
Relations
Deutsche EuroShop AG
Investor & Public Relations
Heegbarg 36
22391 Hamburg
Tel. +49 (40) 41 35 79 – 20/ – 22
Fax +49 (40) 41 35 79 – 29
E-Mail: ir@deutsche-euroshop.com
Web: www.deutsche-euroshop.com
ir-mall.com
facebook.com/euroshop
flickr.com/desag
slideshare.net/desag
twitter.com/des_ag
youtube.com/DeutscheEuroShop
Important Notice: Forward-Looking Statements
Statements in this presentation relating to future status or circum-
stances, including statements regarding management’s plans and
objectives for future operations, sales and earnings figures, are
forward-looking statements of goals and expectations based on
estimates, assumptions and the anticipated effects of future events
on current and developing circumstances and do not necessarily
predict future results.
Many factors could cause the actual results to be materially different
from those that may be expressed or implied by such statements.
Deutsche EuroShop does not intend to update these forward-looking
statements and does not assume any obligation to do so.
May 2016
Company Presentation
37

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Shopping Center Investment Company Presentation

  • 2. EQUITY STORY COMPANY Company Presentation 2May 2016 Deutsche EuroShop is Germany´s only public company that invests solely in shopping centers Shopping centers are attractive investments because of  Continuously positive development of rents  Stable long term growth  Prime locations  High quality standards Deutsche EuroShop does not seek short-term success, but rather long- term growth and the re- sulting stable increase in the value of the portfolio
  • 3. AT A GLANCE 1 100%-view Lettable space Approx. 947,000 sqm Retail shops Approx. 2,375 Market value Approx. €4.3 billion1 Rents per year €260 million1 Occupancy rate 99% Avg. lettable space per DES-center: inner city 39,225 sqm est. Locations 100,900 sqm COMPANY May 2016 Company Presentation 3 19 shopping centers on high street and in established locations – 16 in Germany and one each in Austria, Hungary and Poland 2015 portfolio valuation: approx. 5.5% net initial yield (before transaction costs) Professional center management by ECE, the European market leader in this industry
  • 4. KEY FIGURES 1 2012 – 2015, Compound Annual Growth Rate (CAGR) 2 Proposal COMPANY REVENUE EBIT FFO €m €m €m NUMBER OF SHARES DIVIDEND PER SHARE NAV PER SHARE (EPRA) mn € € 178.2 188.0 200.8 202.9 2012 2013 2014 2015 151.6 165.8 177.5 176.3 2012 2013 2014 2015 87.0 112.0 120.5 123.4 2012 2013 2014 2015 +12.4%1 53.95 53.95 53.95 53.95 2012 2013 2014 2015 1.20 1.25 1.30 2012 2013 2014 2015 28.53 30.59 33.17 39.12 2012 2013 2014 2015 1.352 +0%1 +4.0%1 +11.1%1 May 2016 Company Presentation 4 +5.2%1+4.4%1
  • 5. 0% 1% 2% 3% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 German inflation avg. 1.5% DES´ like-for-like revenue avg. 1.8% LEASE SYSTEM 1 Status: 31 Dec. 2014 2 incl. VAT 3 Status: 31 Dec. 2015  10 years lease  No break-up option  Turnover-linked rents  Minimum rents are CPI-linked  Avg. retail space rent per sqm and year: €250  Avg. turnover per sqm and year (productivity) in DES shopping centers: €4,450 (avg. German retail: €3,463, avg. German shopping centers: €3,9721,2  Rent-to-sales-ratio: 7 – 11%  Weighted maturity of rental contracts: 6.2 years3 LIKE-FOR-LIKE REVENUE COMPANY May 2016 Company Presentation 5
  • 6. TARGETS May 2016 Company Presentation 6 COMPANY Long term net asset value enhancement Main focus on NAV and dividend “Buy & hold”- strategy, Continuous growth Stable and attractive dividends Dividend yield: currently 3.3% Investment-focus: At least 75% Germany and up to 25% Europe Portfolio extension  By acquisition of new shopping centers  By increasing existing amounts of holdings  By expansion of portfolio centers
  • 8. Source: JLL GERMAN PRIME SHOPPING CENTER YIELDS 2005-16E SHOPPING CENTERS May 2016 Company Presentation 8 0 1 2 3 4 5 6 7 Q42005 Q22006 Q42006 Q22007 Q42007 Q22008 Q42008 Q22009 Q42009 Q22010 Q42010 Q22011 Q42011 Q22012 Q42012 Q22013 Q42013 Q22014 Q42014 Q22015 Q42015 Q22016 Q42016 HCN 6.1% SGP 5.5% A10 6.5% BCH 6.0% ACM 5.9% German shopping center prime yields Euro Swap Rate Forecast Compression Decompression Polarisation Compression %
  • 9. EXTENSIONS & FOOD COURTS SHOPPING CENTERS Phoenix-Center Hamburg, extension (retail space +9%) and food court (300 seats),opened March 2016, DES investment approx. €15 million, expected yield: 6% City-Point Kassel, food court (200 seats), opened November 2015, DES investment approx. €4.5 million, expected yield: 7.5% To be decided in 2017: Galeria Baltycka Gdansk, extension (retail space +37%), DES investment approx. €50 million May 2016 Company Presentation 9
  • 10. GERMANY A10 Center Main-Taunus- Zentrum Altmarkt- Galerie Rhein-Neckar- Zentrum Location Wildau/Berlin Sulzbach/Frankfurt Dresden Viernheim/Mannheim Investment 100% 52.0% 100% 100% Lettable space sqm 124,700 124,000 77,000 69,500 Parking 4,000 4,500 500 3,800 Number of shops Approx. 200 Approx. 170 Approx. 200 Approx. 110 Occupancy rate 100% 100% 99% 99% Catchment area Approx. 1.1 m. inhabitants Approx. 3.1 m. inhabitants Approx. 2.1 m. inhabitants Approx. 1.5 m. inhabitants Visitors 2015 6.90 m. 8.20 m. 14.80 m. 7.80 m. Opening/ refurbishment 1996/2011 1964/2004/2011 2002/2011 1972/2002 SHOPPING CENTERS May 2016 Company Presentation 10
  • 11. GERMANY Herold- Center Allee- Center Billstedt- Center Phoenix- Center Location Norderstedt Magdeburg Hamburg Hamburg Investment 100% 50.0% 100% 50.0% Lettable space sqm 54,200 51,300 42,600 43,300 Parking 850 1,300 1,500 1,400 Number of shops Approx. 140 Approx. 150 Approx. 110 Approx. 130 Occupancy rate 96% 98% 98% 99% Catchment area Approx. 0.5 m. inhabitants Approx. 0.8 m. inhabitants Approx. 1.0 m. inhabitants Approx. 0.6 m. inhabitants Visitors 2015 11.50 m. 9.50 m. 10.10 m. 9.20 m. Opening/ refurbishment 1971/1995/2003 1998/2006 1969/1977/1996 2004/2016 SHOPPING CENTERS May 2016 Company Presentation 11
  • 12. GERMANY Forum Allee- Center City- Galerie Rathaus- Center Location Wetzlar Hamm Wolfsburg Dessau Investment 65.0% 100% 100% 100% Lettable space sqm 34,300 34,000 30,800 30,100 Parking 1,700 1,300 800 850 Number of shops Approx. 110 Approx. 90 Approx. 100 Approx. 90 Occupancy rate 99% 99% 100% 98% Catchment area Approx. 0.5 m. inhabitants Approx. 0.7 m. inhabitants Approx. 0.5 m. inhabitants Approx. 0.5 m. inhabitants Visitors 2015 7.60 m. 6.80 m. 7.70 m. 5.60 m. Opening/ refurbishment 2005 1992/2003/2009 2001/2006 1995 SHOPPING CENTERS May 2016 Company Presentation 12
  • 13. GERMANY City- Arkaden City- Point Stadt- Galerie Stadt- Galerie Location Wuppertal Kassel Passau Hameln Investment 100% 100% 75.0% 100% Lettable space sqm 28,600 27,700 27,700 26,000 Parking 650 220 500 500 Number of shops Approx. 80 Approx. 60 Approx. 90 Approx. 100 Occupancy rate 99% 100% 100% 99% Catchment area Approx. 0.8 m. inhabitants Approx. 0.8 m. inhabitants Approx. 1.2 m. inhabitants Approx. 0.4 m. inhabitants Visitors 2015 8.90 m. 8.60 m. 8.20 m. 5.70 m. Opening/ refurbishment 2001/2004 2002/2009/2015 2008 2008 SHOPPING CENTERS May 2016 Company Presentation 13
  • 14. EUROPE Galeria Bałtycka City Arkaden Árkád Location Gdansk, Poland Klagenfurt, Austria Pécs, Hungary Investment 74.0% 50.0% 50.0% Lettable space sqm 48,700 36,900 35,400 Parking 1.050 880 850 Number of shops Approx. 195 Approx. 120 Approx. 130 Occupancy rate 100% 100% 97% Catchment area Approx. 1.1 m. inhabitants Approx. 0.4 m. inhabitants Approx. 1.0 m. inhabitants Visitors 2015 9.80 m. 5.60 m. 12.40 m. Opening/ refurbishment 2007 2006 2004 SHOPPING CENTERS May 2016 Company Presentation 14
  • 15. OUR TENANTS1 1 Selection of our well known tenants SHOPPING CENTERS May 2016 Company Presentation 15
  • 16. TENANTS STRUCTURE TOP 10 TENANTS1 1 in % of total rents as at 31 Dec. 2015 2 2015: excluding Kaufhof 3 2015: perfume stores only SHOPPING CENTERS 2015 2014 Metro Group2 4.5% 5.6% H&M 3.4% 3.2% New Yorker 2.3% 2.4% Douglas Group3 2.1% 3.8% Peek & Cloppenburg 2.1% 2.1% Deichmann 1.8% 1.9% REWE 1.6% 1.6% C&A 1.5% 1.5% Inditex Group 1.2% 1.3% Esprit 1.2% 1.2% Total 21.7% 24.6% 78% 22% Other tenants Company Presentation 16 Low level of dependence on the top 10 tenants May 2016
  • 17. MATURITY DISTRIBUTION OF RENTAL CONTRACTS1 1 as % of rental income as at 31 Dec. 2015 SHOPPING CENTERS 2021 et sqq: 65% 2020: 6% 2019: 6% 2018: 8% 2017: 10% 2016: 5% Company Presentation 17  Long-term contracts guarantee rental income  Weighted maturity 6.2 years May 2016
  • 18. SECTOR MIX1 1 as % of rental space as at 31 Dec. 2015 Balanced sector diversification Fashion 51% Non-food/ electronics 19% Department stores 11% Food 7% Health & beauty 6% Catering 4% Services 2% SHOPPING CENTERS May 2016 Company Presentation 18
  • 19. KEY FIGURES 2015 1 incl. non controlling interests FINANCIALS€ Million 01.01. – 31.12.2015 01.01. – 31.12.2014 Change Revenue 202.9 200.8 1% Net operating income 183.5 181.8 1% EBIT 176.3 177.5 -1% Net finance costs -2.1 -39.8 95% Measurement gains/losses 220.6 77.0 186% EBT 394.7 214.7 84% Consolidated profit 309.3 177.4 74% FFO per share (€) 2.29 2.23 3% EPRA Earnings per share (€, undiluted) 1.89 1.84 3% € Million 31.12.2015 31.12.2014 Change Total equity1 2,061.0 1,751.2 18% Financial liabilities 1,407.6 1,430.1 -2% Other debt (incl. Deferred taxes) 383.0 310.9 23% Total assets 3,851.6 3,492.2 10% Net financial liabilities 1,336.9 1,371.8 -3% Equity ratio1 53.5% 50.1% LTV ratio 35.5% 40.0% Gearing1 87 99 May 2016 Company Presentation 19
  • 20. 5.39 5.40 5.64 5.80 5.89 5.92 5.98 5.97 5.87 5.46 5.13 5.14 5.37 5.52 5.61 5.64 5.70 5.69 5.53 5.13 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Net operating yield in % Net initial yield in % VALUATION1 – INVESTMENT PROPERTIES 2015 1 External appraisers: Until 2014: Feri Research and GfK GeoMarketing Since 2015: JLL SENSITIVITY ANALYSIS in € thousand Basis change of -25bps change of +25bps Rent increase rates 1.14% -101,100 +129,100 Discount rate 6.11% +62,400 -64,100 Capitalization rate 5.33% +99,400 -96,800 Cost ratio 10.70% +7,700 -10,200 FINANCIALS Company Presentation 20May 2016
  • 21. LOAN STRUCTURE INCL. CONVERTIBLE BONDS1,2,3 1 as of 31 Dec. 2015 2 excl. non-consolidated loans FINANCIALSInterest lockin Duration Principle amounts (€ thousand) Share of total loan avg. interest rate Up to 1 year 45.5 3.8% 2.10% 1 to 5 years 3.8 565.4 40.2% 3.87% 5 to 10 years 6.8 707.4 50.3% 3.34% Over 10 years 11.8 87.0 6.2% 5.08% Total 2015 5.9 1,405.3 100% 3.69% 4.59 4.16 3.88 3.76 3.69 0 1 2 3 4 5 6 7 8 3,50 4,00 4,50 5,00 5,50 6,00 2011 2012 2013 2014 2015 avg. Interest rates weighted maturities yrs%  21 German Banks  Weighted maturity of fixed interest periods 5.9 years Company Presentation 21May 2016
  • 22. MATURITIES UNTIL 20211,2 1 as of 31 Dec. 2015 2 excl. non-consolidated loans in € thousand end of fixed interest periods respectively expiring loans avg. interest rate regular redemption payments total maturities 2016 79,800 4.92% 17,100 96,900 2017 96,100 1.75% 16,500 112,600 2018 72,100 4.60% 17,800 89,900 2019 123,100 4.73% 14,700 137,800 2020 134,100 4,52% 10,100 144,200 2021 198,300 4,48% 8,200 206,500 398,600 FINANCIALS Company Presentation 22May 2016 Non-consolidated loans1 In € thousand End of fixed interest periods respectively expiring loans Avg. interest rate DES‘ share 2016 144,900 4.94% 50% 2017-2021 0 City-Arkaden, Klagenfurt: €91.8m; 4.30% interest rate fixed: 2.18% (15y) Phoenix-Center, Hamburg: €53.1m; 6.06% interest rate fixed: 1,83% (10y)
  • 24. 1.66 2.08 2.23 2.29 2.26-2.30 2.34-2.383 2012 2013 2014 2015 2016 2017 FORECAST FINANCIALS May 2016 Company Presentation 24 1 Compound Annual Growth Rate (CAGR) 2012 - 2017 2 Excl. capital gain 3 Undiluted 95.1 113.4 125.0 127.0 127-130 131-134 151.6 165.8 177.5 176.3 175-179 175-179 178.2 188.0 200.8 202.9 200-204 201-205 REVENUE EBIT EBT EXCLUDING VALUATION2 FFO PER SHARE +0% +0% +3% +4% +19 +25% +10% +7% +1% -1% +2% +3% +0%+7% +9% +0% +1% +0% €m €m €m € +5% +7% CAGR1: +3% CAGR1: +3% CAGR1: +7% CAGR1: +7%
  • 25. 0.96 0.96 1.00 1.05 1.05 1.05 1.05 1.10 1.10 1.20 1.25 1.303 1.357 1.407 19.26 23.73 28.08 23.50 24.30 23.67 28.98 24.80 31.64 31.83 36.20 40.46 39.93 40.69 10,00 15,00 20,00 25,00 30,00 35,00 40,00 45,00 0,90 1,00 1,10 1,20 1,30 1,40 1,50 1,60 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 DIVIDEND & PERFORMANCE 1 respectively paid for the previous FY 2 2016: as of 29 April 2016 3 paid on 19 June 2015 4 as of 31 Dec. 2015 5 EPRA/NAREIT Europe 6 German government bonds index 7 proposal 8 Open ended real estate funds TREND OF SHARE (INDEXED) Dividend1 Share price2 PERFORMANCE4 DES DAX EPRA5 REX6 OEF8 1 year (2015) +15.3% +9.6% +20.0% +0.5% +3.3% 3 years +41.8% = +12.3% p.a. +12.2% p.a. +18.5% p.a. +2.3% p.a. +2.2% p.a. 5 years +67.4% = +10.8% p.a. +9.2% p.a. +14.3% p.a. +4.0% p.a. +2.3% p.a. Since IPO (2001) +285.4%= +9.4% p.a. +3.5% p.a. +8.9% p.a. +4.7% p.a. +3.4% p.a. SHARE May 2016 Company Presentation 25
  • 26. SHAREHOLDER STRUCTURE1 1 Status: 14 April 2016 Institutional Investors 55.5% Private Investors 19.5% Alexander Otto 17.4% BlackRock 4.2% US 8% Germany 59% NL 8% BE 2% GB 9% FR 7% Other 1% NO 2% CH 4%  10,200 shareholders  Free float 82.6% SHARE May 2016 Company Presentation 26 Johannes Schorr 3.4%
  • 27. ANALYSTS‘ CONSENSUS1 1 Aggregated by DES 2 According to Bloomberg as of April 2016 avg./in € 2016 2017 EBIT (€ million) 181.4 184.3 FFO per share 2.31 2.38 NAV per share 40.34 41.99 Dividend 1.40 1.45 Price target 43.18 Status: 20 April 2016  24 analysts: one of the best covered real estate companies in Europe2 SELL UNDERPERFORM NEUTRAL OUTPERFORM BUY  Green Street Advisors  UBS  BofA Merrill Lynch  Commerz- bank  Deutsche Bank  Hamburger Sparkasse  HSBC  Independent Research  BHF Bank  Equinet  ABN Amro  Baader Bank  Bankhaus Lampe  Berenberg Bank  DZ Bank  Kepler Cheuvreux  Natixis  Societe Generale  J.P. Morgan Cazenove  Kempen & Co  Metzler  M.M. Warburg  NORD/LB  Oddo Seydler 0% 50% 100% Q204 Q304 Q404 Q105 Q205 Q305 Q405 Q106 Q206 Q306 Q406 Q107 Q207 Q307 Q407 Q108 Q208 Q308 Q408 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Q212 Q312 Q412 Q113 Q213 Q313 Q413 Q114 Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 negative neutral positive SHARE May 2016 Company Presentation 27
  • 28. 10 REASONS TO INVEST SHARE The only public company in Germany to invest solely in shopping centers Prime locations Proven, conservative strategy Shareholder- friendly dividend policy Stable cash flow with long term visibility 01 02 03 04 05 Experienced management team Excellent track record Centers almost 100% let Solidity combined with growth potential Inflation- protected rental agreements 06 07 08 09 10 May 2016 Company Presentation 28
  • 29. KEY DATA OF THE SHARE APPENDIX Listed since 02.01.2001 Nominal capital €53,945,536.00 Outstanding shares 53,945,536 Class of shares Registered shares Dividend 2015 (proposal) €1.35 52W High €48.00 52W Low €35.76 Share price (29 April 2016) €40.69 Market capitalisation €2.20 billion Avg. turnover per day last 12 months (XETRA) 151,340 shares Indices MDAX, EPRA, GPR, MSCI Small Cap, EURO STOXX, STOXX Europe 600 Official market Prime Standard Frankfurt and XETRA OTC market Berlin-Bremen, Dusseldorf, Hamburg, Hanover, Munich and Stuttgart ISIN DE 000 748 020 4 Ticker DEQ, Reuters: DEQGn.DE Market maker Oddo Seydler May 2016 Company Presentation 29
  • 30. KEY DATA OF THE CONVERTIBLE BOND 1.75% 2017 1 Originally €35.10, adjusted on 21 June 2013,19 June 2014 and 19 June 2015 APPENDIX Amount €100 million Principal amount €100,000 per Bond Issue date 20 Nov. 2012 Maturity date 20 Nov. 2017 Coupon 1.75% Price (29 April 2016) 131.60% Interest payment date payable semi-annually in arrear on 21 May and 21 November in each year Conversion price €31.651 Dividend protection Conversion Price adjustment for any dividends paid (full dividend protection) ISIN DE 000 A1R 0W0 5 Listing Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange May 2016 Company Presentation 30
  • 31. RETAIL TURNOVER 20151 1 German centers on a like-for-like basis (turnover: €2.0 billion) APPENDIX May 2016 Company Presentation 31 Retail sector % change in 2015 rent-to-sales ratio in % % of sales % of space Department stores -1.9 6.0 7.9 13.6 Food -0.5 7.5 9.1 6.3 Fashion textiles -1.4 12.2 30.1 39.7 Shoes & leather goods -2.8 14.3 5.3 6.3 Sports -0.5 8.9 4.1 4.7 Health & beauty 2.9 7.1 11.7 5.9 General retail -0.9 10.9 8.6 9.3 Electronics 0.8 4.2 14.1 8.6 Services 3.3 4.5 4.6 1.5 Food catering 2.4 12.9 4.5 4.1 Total -0.2 9.1 100.0 100.0  Retail turnover development on a like-for-like basis: Germany -0.2%, abroad +1.5% DES-Portfolio overall: +0.0%  Absolute turnover development: Germany -0.1%, abroad +2.8% DES-Portfolio overall: +0.3%
  • 32. GFK CONSUMER CLIMATE INDICATOR1 1 As at: March 2016, source: GfK APPENDIX May 2016 Company Presentation 32
  • 33. ONLINE VS. STATIONARY RETAIL? Source: GfK TURNOVER DISTRIBUTION OF A FASHION RETAILER Pure online purchases Order in shop, dispatch by post Order online, pickup in shop (click & collect) Online search, purchase in shop Pure shop purchases  Stationary retail transforms from “Point of Purchase” to “Touch Point” (product experience)  New store concepts (flagship store, show room, multi-channel store, pick-up store), click & collect, augmented reality, online goes offline, mobile services  “Location, location, location” newly interpreted: “Convenience, attractivity & likeability“ May 2016 Company Presentation 33 APPENDIX
  • 34. OUR PARTNER: APPENDIX  ECE develops, plans, builds, leases and manages large commercial real estate in the sectors shopping, office, industries since 1965  originally ECE was an abbreviation for the German word Einkaufscenterentwicklung (Shopping center development)  100% privately owned by the Otto family  Active in 14 European countries  European market leader in the shopping center business  Assets under management: − 196 shopping centers − 7.2 million sqm overall sales area − approx. 21,000 retail businesses − 4.5 million daily visitors − €30 billion assets under management Many investors rely on ECE: May 2016 Company Presentation 34
  • 35. ENVIRONMENT  Climate protection is one of the most important issues for Deutsche EuroShop. We believe that sustainability and profitability, the shopping experience and environmental awareness are not opposing forces. Long-term thinking is part of our strategy. This includes playing our part in environmental protection  In 2015, all our German shopping centers had contracts with suppliers that use renewable energy sources, such as hydroelectric power, for their electricity needs. The “EnergieVision” organisation certified the green electricity for our centers in Germany with the renowned “ok-power” accreditation in 2015. We also plan to switch our centers in other countries over to green electricity wherever possible within the next few years  The German centers used a total of around 66.6 million kWh of green electricity in 2015. This represented 100% of the electricity requirements in these shopping centers. Based on conservative calculations, this meant a reduction of around 21,760 tonnes in carbon dioxide emissions, which equates to the annual CO2 emissions of around 1,000 two-person households. The use of heat exchangers and energy-saving light bulbs allows us to further reduce energy consumption in our shopping centers  Deutsche EuroShop, through its shopping centers, also supports a range of activities at local and regional level in the areas of ecology, society and economy APPENDIX May 2016 Company Presentation 35
  • 36. FINANCIAL CALENDAR APPENDIX May 2016 Company Presentation 36 28.04. Publication of the Annual Report 2015 12.05. Quarterly Statement 3M 26.05. Kempen European Property Seminar, Amsterdam 01.06. Kepler Cheuvreux German Property Day, Paris 01.06. Roadshow Warsaw, Erste Securities Polska 08.06. Deutsche Bank dbAccess German Swiss & Austrian Conference, Berlin 15.06. Annual General Meeting, Hamburg 01.07. ESN equinet European Conference, Frankfurt 07.07. Roadshow London, Societe Generale 07.07. Roadshow Zurich, Bankhaus Lampe 08.07. Roadshow Cologne-Dusseldorf, DZ Bank 08.07. Roadshow Stuttgart, ESN equinet 12.07. DSW Private Investors Forum, Frankfurt 15.08. Half-year Financial Report 17.08. Roadshow Helsinki, ESN equinet 2016 13.09. Bank of America Merrill Lynch Global Real Estate Conference, New York 14.09. UBS Best of Germany Conference, New York 19.09. Goldman Sachs & Berenberg German Conference, Munich 20.09. Baader Investment Conference, Munich 04.-06.10. EXPO Real, Munich 10.10. Roadshow Madrid, M.M. Warburg 13.10. Roadshow Brussels, DZ Bank 14.11. Quarterly Statement 9M 16.11. Roadshow Amsterdam, ABN AMRO 16.11. Roadshow Geneva, Kepler Cheuvreux 17.11. Roadshow Zurich, Kepler Cheuvreux 22.11. German Equity Forum, Frankfurt
  • 37. CONTACT This presentation is a FSC certified product APPENDIX NICOLAS LISSNER Manager Investor & Public Relations OLAF BORKERS Chief Financial Officer WILHELM WELLNER Chief Executive Officer PATRICK KISS Head of Investor & Public Relations Deutsche EuroShop AG Investor & Public Relations Heegbarg 36 22391 Hamburg Tel. +49 (40) 41 35 79 – 20/ – 22 Fax +49 (40) 41 35 79 – 29 E-Mail: ir@deutsche-euroshop.com Web: www.deutsche-euroshop.com ir-mall.com facebook.com/euroshop flickr.com/desag slideshare.net/desag twitter.com/des_ag youtube.com/DeutscheEuroShop Important Notice: Forward-Looking Statements Statements in this presentation relating to future status or circum- stances, including statements regarding management’s plans and objectives for future operations, sales and earnings figures, are forward-looking statements of goals and expectations based on estimates, assumptions and the anticipated effects of future events on current and developing circumstances and do not necessarily predict future results. Many factors could cause the actual results to be materially different from those that may be expressed or implied by such statements. Deutsche EuroShop does not intend to update these forward-looking statements and does not assume any obligation to do so. May 2016 Company Presentation 37