Deutsche EuroShop reported increased revenue, earnings, and profits for Q1 2013 compared to Q1 2012. Revenue was up 10% to €42.4 million driven by the addition of Herold-Center to the portfolio. EBIT rose 10% to €37.3 million and consolidated profit grew 22% to €20.1 million. Funds from operations per share increased 11% to €0.50. The company acquired the remaining shares in Altmarkt-Galerie, increasing its ownership to 100%. For the full year, Deutsche EuroShop expects to pay a dividend of at least €1.20 per share.
- Deutsche EuroShop's revenue in Q1 2014 increased 18% year-over-year to €50 million, driven by the full consolidation of Altmarkt-Galerie Dresden.
- EBIT rose 19% to €44.2 million and consolidated profit increased 12% to €22.6 million.
- Funds from operations (FFO) per share grew 10% to €0.55, while EPRA earnings per share increased 10% to €0.44.
- Deutsche EuroShop confirmed its forecasts for 2014, expecting revenue of €198-201 million and FFO per share of €2.14-€2.18. It intends to pay a
Deutsche EuroShop reported strong financial results for the first nine months of 2013, with revenue increasing 18% year-over-year to €138.2 million driven by contributions from property acquisitions. Earnings before interest and taxes (EBIT) rose 19% to €120.5 million. Funds from operations (FFO) per share increased 18% to €1.58, while consolidated profit grew 55% to €77.2 million boosted by a one-time gain from selling a property stake. Management raised full-year earnings guidance and will consider increasing the dividend given the company's upward trend.
The interim report summarizes Deutsche EuroShop's financial results for the first half of 2013. Revenue increased 14% to €88.8 million due to contributions from newly acquired properties. Earnings before interest and taxes grew 15% to €77.2 million. Funds from operations rose 15% to €1.02 per share. Consolidated profit increased 28% to €41.8 million. The company paid a dividend of €1.20 per share and its shares performed in line with the market.
- Revenue for Deutsche EuroShop increased slightly by 0.8% to €152.3 million in the first three quarters of 2016. EBIT also increased modestly by 0.3% to €131.5 million.
- Consolidated profit was down 1.9% to €72.2 million due to higher investment costs, however EPRA earnings per share rose 2.1% to €1.44. Funds from operations improved by 3.6% to €1.74 per share.
- Deutsche EuroShop acquired a 50% stake in the Saarpark-Center in Neunkirchen in early October and expects revenue and FFO per share to increase slightly in 2017 from this
- Deutsche EuroShop AG reported a 1% increase in revenue and EBIT for Q1 2015 compared to the same period last year. Net profit increased 12% year-over-year.
- The expansion of the Phoenix-Center shopping center in Hamburg is progressing on schedule, with parts opening in Q3 and Q4 2015 and the full completion expected in spring 2016.
- Deutsche EuroShop confirms its full-year forecasts published in March, expecting revenue between €201-€204 million and FFO per share between €2.24-€2.28. The company plans to pay a dividend of €1.35 per share for 2015.
- Deutsche EuroShop's revenue increased 12% to €99.7 million in H1 2014, driven by the full consolidation of Altmarkt-Galerie Dresden.
- EBIT rose 14% to €88.3 million and consolidated profit increased 23% to €46.3 million.
- Funds from operations per share grew 16% to €1.09.
- The company expects results to be positive for the full year 2014 and plans to pay a dividend of €1.30 per share.
- The company reported a 10.5% increase in revenue for the first quarter of 2018 compared to the previous year, driven by the acquisition of the Olympia Center in Brno.
- Earnings before interest and taxes (EBIT) grew by 10.7% to €49.0 million, in line with revenue growth.
- Consolidated profit increased by 10.4% to €30.4 million, though earnings per share declined slightly to €0.49 due to an increase in the number of shares outstanding.
- The company reaffirmed its full-year guidance and dividend policy, planning to increase dividends paid per share by €0.05 for both 2018 and 2019.
- Revenue for Deutsche EuroShop increased 3.9% to €105.8 million for the first half of 2017, meeting expectations. This was driven by the acquisition of the Olympia Center Brno.
- Net operating income rose 4% to €95.3 million. EBIT increased 4.1% to €92.5 million, in line with revenue growth.
- Consolidated profit was up 15.5% to €56.2 million. Earnings per share rose 10% to €0.99, while EPRA earnings per share increased 8.1% to €1.20. Funds from operations per share grew 7.8% to €1.25.
- Deutsche EuroShop's revenue in Q1 2014 increased 18% year-over-year to €50 million, driven by the full consolidation of Altmarkt-Galerie Dresden.
- EBIT rose 19% to €44.2 million and consolidated profit increased 12% to €22.6 million.
- Funds from operations (FFO) per share grew 10% to €0.55, while EPRA earnings per share increased 10% to €0.44.
- Deutsche EuroShop confirmed its forecasts for 2014, expecting revenue of €198-201 million and FFO per share of €2.14-€2.18. It intends to pay a
Deutsche EuroShop reported strong financial results for the first nine months of 2013, with revenue increasing 18% year-over-year to €138.2 million driven by contributions from property acquisitions. Earnings before interest and taxes (EBIT) rose 19% to €120.5 million. Funds from operations (FFO) per share increased 18% to €1.58, while consolidated profit grew 55% to €77.2 million boosted by a one-time gain from selling a property stake. Management raised full-year earnings guidance and will consider increasing the dividend given the company's upward trend.
The interim report summarizes Deutsche EuroShop's financial results for the first half of 2013. Revenue increased 14% to €88.8 million due to contributions from newly acquired properties. Earnings before interest and taxes grew 15% to €77.2 million. Funds from operations rose 15% to €1.02 per share. Consolidated profit increased 28% to €41.8 million. The company paid a dividend of €1.20 per share and its shares performed in line with the market.
- Revenue for Deutsche EuroShop increased slightly by 0.8% to €152.3 million in the first three quarters of 2016. EBIT also increased modestly by 0.3% to €131.5 million.
- Consolidated profit was down 1.9% to €72.2 million due to higher investment costs, however EPRA earnings per share rose 2.1% to €1.44. Funds from operations improved by 3.6% to €1.74 per share.
- Deutsche EuroShop acquired a 50% stake in the Saarpark-Center in Neunkirchen in early October and expects revenue and FFO per share to increase slightly in 2017 from this
- Deutsche EuroShop AG reported a 1% increase in revenue and EBIT for Q1 2015 compared to the same period last year. Net profit increased 12% year-over-year.
- The expansion of the Phoenix-Center shopping center in Hamburg is progressing on schedule, with parts opening in Q3 and Q4 2015 and the full completion expected in spring 2016.
- Deutsche EuroShop confirms its full-year forecasts published in March, expecting revenue between €201-€204 million and FFO per share between €2.24-€2.28. The company plans to pay a dividend of €1.35 per share for 2015.
- Deutsche EuroShop's revenue increased 12% to €99.7 million in H1 2014, driven by the full consolidation of Altmarkt-Galerie Dresden.
- EBIT rose 14% to €88.3 million and consolidated profit increased 23% to €46.3 million.
- Funds from operations per share grew 16% to €1.09.
- The company expects results to be positive for the full year 2014 and plans to pay a dividend of €1.30 per share.
- The company reported a 10.5% increase in revenue for the first quarter of 2018 compared to the previous year, driven by the acquisition of the Olympia Center in Brno.
- Earnings before interest and taxes (EBIT) grew by 10.7% to €49.0 million, in line with revenue growth.
- Consolidated profit increased by 10.4% to €30.4 million, though earnings per share declined slightly to €0.49 due to an increase in the number of shares outstanding.
- The company reaffirmed its full-year guidance and dividend policy, planning to increase dividends paid per share by €0.05 for both 2018 and 2019.
- Revenue for Deutsche EuroShop increased 3.9% to €105.8 million for the first half of 2017, meeting expectations. This was driven by the acquisition of the Olympia Center Brno.
- Net operating income rose 4% to €95.3 million. EBIT increased 4.1% to €92.5 million, in line with revenue growth.
- Consolidated profit was up 15.5% to €56.2 million. Earnings per share rose 10% to €0.99, while EPRA earnings per share increased 8.1% to €1.20. Funds from operations per share grew 7.8% to €1.25.
The document is a half-year financial report from Deutsche EuroShop, a German real estate investment company that invests solely in shopping centers. It summarizes that in the first six months of 2019:
- Revenue grew slightly to €111.9 million, in line with expectations. Net operating income was practically unchanged at €100.4 million.
- Earnings before interest and taxes improved to €98.2 million, while earnings before taxes rose 3.8% to €81.9 million due to a one-time tax refund.
- Consolidated profit increased significantly by 19.8% to €66.2 million, and EPRA earnings rose 14.5% to €84.
- Sopra's 2013 annual results exceeded targets, with revenue of €1,349.0 million, a 10.9% increase over 2012, and operating profit margin of 8.1%, exceeding projections.
- Net profit was €71.4 million, a 5.3% margin, up from €55.6 million and 4.6% in 2012.
- The Board will propose a dividend of €1.90 per share, totaling €22.6 million, distributed from 2013 net profit.
Deutsche EuroShop AG reported financial results for the first nine months of 2015. Revenue increased slightly by 0.9% compared to the same period last year. Net operating income was in line with previous year levels, while earnings before interest and taxes declined slightly due to a non-recurring expense. Overall profit increased by 5.9% due to lower interest expenses and a valuation gain from an interest rate swap. The company expects to meet its full-year targets and will pay a dividend of €1.35 per share for 2015.
- Revenue for the first quarter of 2020 was €55.8 million, down 0.9% from the previous year due to rent losses from coronavirus closures in foreign centers starting in mid-March. EBIT was €48.3 million, down 2% year-over-year.
- EBT excluding measurement gains/losses was €40.8 million, down 3.7% from the previous year partly due to a one-time interest refund in 2019 that positively impacted the prior year results.
- FFO for the quarter was €38.6 million, down 1.3% from the previous year, as the same quarter in 2019 had included the one-time tax refund. The
- Revenue increased 3.8% to €167 million due to the addition of a new property in the portfolio.
- Net operating income rose 3.9% to €150 million and EBIT increased 4.4% to €146.5 million.
- Funds from operations grew 2.9% to €110.7 million, though FFO per share fell due to an increase in shares outstanding.
METRO Cash & Carry Serbia is a member of the METRO GROUP, one of the largest international retail companies. The presentation discusses key performance indicators (KPIs) for retail industries, comparing them between retail and manufacturing businesses. It covers classification of KPIs, quantitative KPIs derived from financial statements, qualitative KPIs from other sources, and monitoring profit and loss KPIs such as sales, margins, costs and the cash conversion cycle.
This document provides financial information for Deutsche EuroShop for the first quarter of 2016. Key points include:
- Revenue increased slightly by 0.3% to €50.7 million compared to the previous year. Net operating income fell by 0.3% to €46 million. EBIT and EBT were unchanged at €44.6 million and €31 million respectively.
- Consolidated profit fell 2% to €24.9 million due to increased investments impacting measurement gains/losses. Earnings per share fell to €0.46. FFO per share rose 2% to €0.58.
- Total assets increased 1% to €3.873 billion primarily due to higher cash
521 announcement 29102013 interim financial report q3 2013Jianping Wong
Jens Bjorn Andersen, CEO: "The markets of DSV are still characterised by low growth and fierce competition. DSV is on the right track and is gaining market share in most markets, and we are making strong headway within sea freight in particular. The reported operating profit for Q3 is in line with last year and our cash flow also shows positive development. Under the circumstances we are satisfied with this performance, however it is obvious that DSV’s goal is to deliver earnings growth."
DSV maintains its full-year outlook for 2013 previously announced.
Read the entire financial report in English or Danish by clicking on the below links:
DSV Tracking:http://www.expresstracking.org/dsv/
This letter from the executive board discusses the impacts of the COVID-19 pandemic on Deutsche EuroShop AG and its shopping centers. It states that footfall and tenant revenues have increased to around 77% and 85% of pre-pandemic levels respectively as stores have reopened. However, key financial figures like revenue and earnings are still down compared to the previous year. The letter also addresses rent support provided to tenants, refinancing of loans, and forecasts funds from operations to be between €1.70 to €1.90 per share for 2021 assuming no further major store closures.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 3M 2020Deutsche EuroShop AG
The document summarizes a quarterly statement conference call for 3M 2020. It discusses the following key points:
1) Most shopping centers in Germany and abroad have reopened with safety restrictions in place, but footfall and tenant revenues remain well below normal levels. The rent collection ratio for April and May was around 30%.
2) EBIT decreased slightly to €48.3 million due to lower rents and higher costs. FFO remained stable at €38.6 million despite coronavirus impacts.
3) The balance sheet remains very solid with an equity ratio of 57.3% and low LTV ratios, though no forecasts are possible for 2020 revenues due to uncertainty from the pandemic.
This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. It discusses the company's portfolio of 21 shopping centers located primarily in Germany, with one center each in Austria, Czech Republic, Hungary, and Poland. The document summarizes the company's targets of long-term net asset value enhancement and stable, attractive dividends through a "buy and hold" strategy. It also outlines key financial figures for the company and discusses trends in the retail sector such as the rise of e-commerce and changing customer expectations.
This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. Some key points:
- Deutsche EuroShop owns interests in 21 shopping centers located in Germany, Austria, Czech Republic, Hungary, and Poland, with a total market value of approximately €5.1 billion.
- The company focuses on high-quality shopping centers in prime locations that are professionally managed. Occupancy rates across the portfolio are high at 99%.
- Key financial figures show stable revenue, earnings, and dividend growth in recent years. The company targets further expansion of its portfolio and maintaining an attractive dividend yield.
- Shopping centers remain attractive investments due to stable rent growth and occupancy
This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. Some key points:
- Deutsche EuroShop owns 21 shopping centers located primarily in Germany but also in Austria, Czech Republic, Hungary, and Poland.
- The shopping centers have high occupancy rates and long-term lease agreements with tenants like H&M, Ceconomy, Deichmann, and Peek & Cloppenburg.
- Deutsche EuroShop focuses on stable long-term growth and increasing shareholder value through dividends. It aims to enhance its portfolio through acquisitions and expansions while maintaining a diversified tenant mix and maturities.
- Trends in retail
- Deutsche EuroShop's key financial figures for Q1 2019 were slightly improved compared to Q1 2018. Revenue increased slightly by 0.3% while EBIT and EBT excluding measurement gains/losses rose by 0.6% and 7.2% respectively.
- A recent court ruling allowing Deutsche EuroShop to claim an "extended trade tax deduction" resulted in a one-time tax refund of €9.7 million including interest, positively impacting profits.
- Funds from operations increased 1.6% to €38.4 million driven by higher earnings, interest savings on financing, and the one-time tax refund. Excluding non-recurring items, FFO still rose slightly.
Swissquote saw a 36.1% increase in revenues and a 29.9% increase in net profit in the first half of 2011 despite the tense global economic situation. Trading operations revenues increased the most at 125.6% due to the acquisition of ACM. Growth slowed in the second quarter with a 1.6% increase in the number of accounts and a 7.9% decrease in assets under custody. Swissquote announced new cooperative ventures with BLKB for online mortgages and Swiss Life for banking products that could provide significant future potential.
1) Revenue for the first half of 2010 was up 12% to €70.4 million due to the acquisition of the A10 Center in Wildau.
2) EBIT increased 13% to €60.8 million and earnings before taxes rose 19% to €31.2 million.
3) Consolidated profit was €26 million, down from the previous year due to one-time gains, while funds from operations increased 19% to €31.1 million.
Deutsche EuroShop | Update on Business Activities | Presentation | 17 June 2020Deutsche EuroShop AG
- Most shops in Germany and abroad have reopened since mid-May, but gastronomy and entertainment face restrictions. Safety measures like distancing and masks are required.
- Footfall at centers is around 73% of normal levels, with variations between 55-100% depending on region. Shop turnover remains substantially below normal.
- Rent collection was 33% in April and 38% in May. Negotiations continue over relief measures like rent deferrals or holidays for tenants.
- The company has €183 million in cash and recently secured new credit lines, but 2020 forecasts are not possible due to unpredictability from the pandemic.
- The coronavirus pandemic significantly impacted the company's results in the first half of 2020. Revenue declined 2.2% due to rent relief provided to tenants.
- Center operating costs rose substantially by €17.9 million primarily due to higher write-downs of rent receivables totaling €19 million resulting from expected rent defaults and tenant insolvencies caused by the pandemic.
- Earnings before interest and taxes (EBIT) fell 20.1% to €78.5 million mainly due to the increase in rent receivable write-downs and lower revenue amid the pandemic.
The document reports on CIR Group's 9M 2014 results. It provides details on the company's subsidiaries, including Espresso Group, Sogefi, and KOS. It summarizes that CIR Group had a net income of €5.4 million for 9M 2014, down from €10.7 million in 9M 2013. It also notes that CIR signed an agreement in July 2014 to restructure the debt of its subsidiary Sorgenia, which will result in CIR no longer holding shares in Sorgenia.
1) Deutsche EuroShop is Germany's only public company that invests solely in shopping centers across Germany, Austria, Poland and Hungary.
2) The company owns 19 shopping centers totaling approximately 940,000 square meters of retail space.
3) Deutsche EuroShop aims for long-term growth and stable increases in portfolio value through a buy and hold strategy and annual portfolio extensions of 10%.
The company reported strong financial results for the first nine months of 2012. Revenue increased 14% compared to the same period in 2011, reaching €157.1 million. Net operating income rose 15% to €41.1 million and earnings before interest and taxes grew 16% to €37.3 million. Consolidated profit increased nearly 25% to €49.9 million. The company expects to slightly increase its dividend and continues its strategy of investing in shopping centers.
The document is a half-year financial report from Deutsche EuroShop, a German real estate investment company that invests solely in shopping centers. It summarizes that in the first six months of 2019:
- Revenue grew slightly to €111.9 million, in line with expectations. Net operating income was practically unchanged at €100.4 million.
- Earnings before interest and taxes improved to €98.2 million, while earnings before taxes rose 3.8% to €81.9 million due to a one-time tax refund.
- Consolidated profit increased significantly by 19.8% to €66.2 million, and EPRA earnings rose 14.5% to €84.
- Sopra's 2013 annual results exceeded targets, with revenue of €1,349.0 million, a 10.9% increase over 2012, and operating profit margin of 8.1%, exceeding projections.
- Net profit was €71.4 million, a 5.3% margin, up from €55.6 million and 4.6% in 2012.
- The Board will propose a dividend of €1.90 per share, totaling €22.6 million, distributed from 2013 net profit.
Deutsche EuroShop AG reported financial results for the first nine months of 2015. Revenue increased slightly by 0.9% compared to the same period last year. Net operating income was in line with previous year levels, while earnings before interest and taxes declined slightly due to a non-recurring expense. Overall profit increased by 5.9% due to lower interest expenses and a valuation gain from an interest rate swap. The company expects to meet its full-year targets and will pay a dividend of €1.35 per share for 2015.
- Revenue for the first quarter of 2020 was €55.8 million, down 0.9% from the previous year due to rent losses from coronavirus closures in foreign centers starting in mid-March. EBIT was €48.3 million, down 2% year-over-year.
- EBT excluding measurement gains/losses was €40.8 million, down 3.7% from the previous year partly due to a one-time interest refund in 2019 that positively impacted the prior year results.
- FFO for the quarter was €38.6 million, down 1.3% from the previous year, as the same quarter in 2019 had included the one-time tax refund. The
- Revenue increased 3.8% to €167 million due to the addition of a new property in the portfolio.
- Net operating income rose 3.9% to €150 million and EBIT increased 4.4% to €146.5 million.
- Funds from operations grew 2.9% to €110.7 million, though FFO per share fell due to an increase in shares outstanding.
METRO Cash & Carry Serbia is a member of the METRO GROUP, one of the largest international retail companies. The presentation discusses key performance indicators (KPIs) for retail industries, comparing them between retail and manufacturing businesses. It covers classification of KPIs, quantitative KPIs derived from financial statements, qualitative KPIs from other sources, and monitoring profit and loss KPIs such as sales, margins, costs and the cash conversion cycle.
This document provides financial information for Deutsche EuroShop for the first quarter of 2016. Key points include:
- Revenue increased slightly by 0.3% to €50.7 million compared to the previous year. Net operating income fell by 0.3% to €46 million. EBIT and EBT were unchanged at €44.6 million and €31 million respectively.
- Consolidated profit fell 2% to €24.9 million due to increased investments impacting measurement gains/losses. Earnings per share fell to €0.46. FFO per share rose 2% to €0.58.
- Total assets increased 1% to €3.873 billion primarily due to higher cash
521 announcement 29102013 interim financial report q3 2013Jianping Wong
Jens Bjorn Andersen, CEO: "The markets of DSV are still characterised by low growth and fierce competition. DSV is on the right track and is gaining market share in most markets, and we are making strong headway within sea freight in particular. The reported operating profit for Q3 is in line with last year and our cash flow also shows positive development. Under the circumstances we are satisfied with this performance, however it is obvious that DSV’s goal is to deliver earnings growth."
DSV maintains its full-year outlook for 2013 previously announced.
Read the entire financial report in English or Danish by clicking on the below links:
DSV Tracking:http://www.expresstracking.org/dsv/
This letter from the executive board discusses the impacts of the COVID-19 pandemic on Deutsche EuroShop AG and its shopping centers. It states that footfall and tenant revenues have increased to around 77% and 85% of pre-pandemic levels respectively as stores have reopened. However, key financial figures like revenue and earnings are still down compared to the previous year. The letter also addresses rent support provided to tenants, refinancing of loans, and forecasts funds from operations to be between €1.70 to €1.90 per share for 2021 assuming no further major store closures.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 3M 2020Deutsche EuroShop AG
The document summarizes a quarterly statement conference call for 3M 2020. It discusses the following key points:
1) Most shopping centers in Germany and abroad have reopened with safety restrictions in place, but footfall and tenant revenues remain well below normal levels. The rent collection ratio for April and May was around 30%.
2) EBIT decreased slightly to €48.3 million due to lower rents and higher costs. FFO remained stable at €38.6 million despite coronavirus impacts.
3) The balance sheet remains very solid with an equity ratio of 57.3% and low LTV ratios, though no forecasts are possible for 2020 revenues due to uncertainty from the pandemic.
This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. It discusses the company's portfolio of 21 shopping centers located primarily in Germany, with one center each in Austria, Czech Republic, Hungary, and Poland. The document summarizes the company's targets of long-term net asset value enhancement and stable, attractive dividends through a "buy and hold" strategy. It also outlines key financial figures for the company and discusses trends in the retail sector such as the rise of e-commerce and changing customer expectations.
This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. Some key points:
- Deutsche EuroShop owns interests in 21 shopping centers located in Germany, Austria, Czech Republic, Hungary, and Poland, with a total market value of approximately €5.1 billion.
- The company focuses on high-quality shopping centers in prime locations that are professionally managed. Occupancy rates across the portfolio are high at 99%.
- Key financial figures show stable revenue, earnings, and dividend growth in recent years. The company targets further expansion of its portfolio and maintaining an attractive dividend yield.
- Shopping centers remain attractive investments due to stable rent growth and occupancy
This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. Some key points:
- Deutsche EuroShop owns 21 shopping centers located primarily in Germany but also in Austria, Czech Republic, Hungary, and Poland.
- The shopping centers have high occupancy rates and long-term lease agreements with tenants like H&M, Ceconomy, Deichmann, and Peek & Cloppenburg.
- Deutsche EuroShop focuses on stable long-term growth and increasing shareholder value through dividends. It aims to enhance its portfolio through acquisitions and expansions while maintaining a diversified tenant mix and maturities.
- Trends in retail
- Deutsche EuroShop's key financial figures for Q1 2019 were slightly improved compared to Q1 2018. Revenue increased slightly by 0.3% while EBIT and EBT excluding measurement gains/losses rose by 0.6% and 7.2% respectively.
- A recent court ruling allowing Deutsche EuroShop to claim an "extended trade tax deduction" resulted in a one-time tax refund of €9.7 million including interest, positively impacting profits.
- Funds from operations increased 1.6% to €38.4 million driven by higher earnings, interest savings on financing, and the one-time tax refund. Excluding non-recurring items, FFO still rose slightly.
Swissquote saw a 36.1% increase in revenues and a 29.9% increase in net profit in the first half of 2011 despite the tense global economic situation. Trading operations revenues increased the most at 125.6% due to the acquisition of ACM. Growth slowed in the second quarter with a 1.6% increase in the number of accounts and a 7.9% decrease in assets under custody. Swissquote announced new cooperative ventures with BLKB for online mortgages and Swiss Life for banking products that could provide significant future potential.
1) Revenue for the first half of 2010 was up 12% to €70.4 million due to the acquisition of the A10 Center in Wildau.
2) EBIT increased 13% to €60.8 million and earnings before taxes rose 19% to €31.2 million.
3) Consolidated profit was €26 million, down from the previous year due to one-time gains, while funds from operations increased 19% to €31.1 million.
Deutsche EuroShop | Update on Business Activities | Presentation | 17 June 2020Deutsche EuroShop AG
- Most shops in Germany and abroad have reopened since mid-May, but gastronomy and entertainment face restrictions. Safety measures like distancing and masks are required.
- Footfall at centers is around 73% of normal levels, with variations between 55-100% depending on region. Shop turnover remains substantially below normal.
- Rent collection was 33% in April and 38% in May. Negotiations continue over relief measures like rent deferrals or holidays for tenants.
- The company has €183 million in cash and recently secured new credit lines, but 2020 forecasts are not possible due to unpredictability from the pandemic.
- The coronavirus pandemic significantly impacted the company's results in the first half of 2020. Revenue declined 2.2% due to rent relief provided to tenants.
- Center operating costs rose substantially by €17.9 million primarily due to higher write-downs of rent receivables totaling €19 million resulting from expected rent defaults and tenant insolvencies caused by the pandemic.
- Earnings before interest and taxes (EBIT) fell 20.1% to €78.5 million mainly due to the increase in rent receivable write-downs and lower revenue amid the pandemic.
The document reports on CIR Group's 9M 2014 results. It provides details on the company's subsidiaries, including Espresso Group, Sogefi, and KOS. It summarizes that CIR Group had a net income of €5.4 million for 9M 2014, down from €10.7 million in 9M 2013. It also notes that CIR signed an agreement in July 2014 to restructure the debt of its subsidiary Sorgenia, which will result in CIR no longer holding shares in Sorgenia.
1) Deutsche EuroShop is Germany's only public company that invests solely in shopping centers across Germany, Austria, Poland and Hungary.
2) The company owns 19 shopping centers totaling approximately 940,000 square meters of retail space.
3) Deutsche EuroShop aims for long-term growth and stable increases in portfolio value through a buy and hold strategy and annual portfolio extensions of 10%.
The company reported strong financial results for the first nine months of 2012. Revenue increased 14% compared to the same period in 2011, reaching €157.1 million. Net operating income rose 15% to €41.1 million and earnings before interest and taxes grew 16% to €37.3 million. Consolidated profit increased nearly 25% to €49.9 million. The company expects to slightly increase its dividend and continues its strategy of investing in shopping centers.
Este documento presenta los resultados provisionales de un proceso de selección para cubrir una plaza de informador/a-animador/a en un centro de información a la mujer. Se detallan los puntajes obtenidos por cada candidato en las distintas fases del proceso, incluyendo méritos, cursos y experiencia profesional en la fase de concurso, y los resultados de los primeros y segundos ejercicios de la fase de oposición. Marta Medrano obtuvo la puntuación global más alta con 8,84 puntos.
Deutsche EuroShop - Conference Call Presentation - Preliminary Results FY 2012Deutsche EuroShop AG
- The company reported preliminary results for fiscal year 2012 with revenue, EBIT, and EBT before valuation meeting or exceeding targets.
- In 2012, the company acquired several shopping centers in Germany, issued new shares and convertible bonds, and restructured its legal entities through a merger to achieve tax benefits.
- Key highlights included acquisitions totaling over €200 million, and growth in performance metrics exceeding 15% on a compound annual basis since 2008.
- The preliminary results presentation reviewed the company's financial and operating performance for 2012 and outlined its strategy and recent transactions.
The document discusses IRS tax Form 4868, which allows individuals to request a 6-month extension to file their tax return. Filing Form 4868 does not extend the deadline for paying any taxes owed, but it avoids potential late filing penalties by providing additional time to complete the return. Common reasons for using Form 4868 include needing more time to gather tax documents or needing an extension if residing outside the country. The form can be e-filed to request the extension, and the IRS typically processes it within a few days to provide the new October 15th filing deadline.
Deutsche EuroShop is Germany's only public company that invests solely in shopping centers. It owns 19 shopping centers in Germany, Austria, Hungary and Poland, with a total lettable space of approximately 930,000 square meters. The company focuses on long-term growth and stable dividends. Key financial figures for the first nine months of 2014 show an 8% increase in revenue and a 10% increase in funds from operations per share compared to the same period in 2013.
Deutsche EuroShop - Conference Call Presentation - Interim Report Q1 2013Deutsche EuroShop AG
Deutsche EuroShop held a conference call to discuss its Q1 2013 results. Key highlights included:
- Revenue increased 10% to €42.4 million due to the full consolidation of Herold-Center.
- Net operating income rose 12% to €38.6 million.
- EBIT increased 10% to €37.3 million.
- FFO per share grew 11% to €0.50, while EPRA earnings per share rose 18% to €0.40.
- The company forecasts revenue growth of 11-13% annually through 2014 and FFO per share growth of 4-7% through 2015.
Deutsche EuroShop Real Estate Summer 2013 in Klagenfurt/AustriaDeutsche EuroShop AG
22. & 23.08.2013
Bricks and Mortar - Round-up of the Austrian Retail Real Estate Market
Gernot Zöhrer, Development Austria, ECE
Challenges of Leasing Related to Retail and Online Trends
Sonja Carina Fragner, Leasing Manager, ECE
Presentation and Guided Visit of City Arkaden Klagenfurt
Birgit Haglmüller, Leasing Manager, ECE
Future of Retailing – the true state of affairs
Stephan Jung, Chairman of the management board, German Council of Shopping Center
Rating based Evaluation of Shopping Centers - Methodology and Approach
Wolfgang Kubatzki, Head of Real Estate, Feri EuroRating
The Shopping Centre: Today a Factor of Success, tomorrow a Simple Sales Channel? Perspectives of Managed Retail Real Estate in Dynamic Times
Dr. Gerold Doplbauer, Senior Consultant, GfK GeoMarketing
Questions & Answers
Claus-Matthias Böge, CEO,
Deutsche EuroShop
- Deutsche EuroShop's revenue increased slightly in the first half of 2015 compared to the previous year, while net operating income and earnings before interest and taxes were largely unchanged.
- Consolidated profit rose by 7% year-on-year due to an improvement in net finance costs and a lower valuation loss.
- Funds from operations per share increased by 4.6% compared to the first half of 2014.
- Deutsche EuroShop confirms its forecast for the full year and plans to pay a dividend of €1.35 per share.
This document summarizes the key financial figures for Deutsche EuroShop for the first half of 2018 compared to the same period in 2017. It shows that revenue increased 5.5% to €111.6 million due to portfolio expansion. Net operating income and EBIT both increased by 5.4% and 6% respectively. EPRA earnings rose 8.2% to €73.6 million, and funds from operations increased 6.5% to €75.5 million. However, consolidated profit declined slightly by 1.7% to €55.3 million due to higher investment costs and a write-down related to plans for expanding a property in Poland.
The document provides a summary of Deutsche EuroShop AG's nine-month report for 2010. Revenue increased 13% to €106.6 million due to the acquisition of the A10 Center in Wildau. EBIT grew 13% to €91.5 million and FFO improved 18% to €46.5 million. Deutsche EuroShop acquired additional shares in shopping centers in Dresden, Wuppertal, and Kassel. Based on the strong results, the company plans to increase its dividend to €1.10 per share.
The interim report summarizes Kemira's financial performance from January to March 2013. Key points include:
- Organic revenue growth of 3% and operative EBIT increased 9% to EUR 42.2 million due to cost savings and sales volume growth.
- Earnings per share decreased to EUR 0.01 mainly due to a EUR 23 million write-down related to divesting shares in a joint venture.
- Net debt decreased to EUR 357 million due to proceeds from divesting food/pharmaceutical and joint venture businesses.
- Deutsche EuroShop recorded revenue growth of 28.1% in the first half of 2023 compared to the same period in 2022, driven by acquisitions of additional shares in shopping centers.
- Net operating income increased by 27.8% due to higher revenue and lower write-downs on rent receivables.
- Earnings before interest and taxes grew substantially by 49.3% helped by income from reversal of provisions and lower write-downs, however consolidated profit fell due to negative valuation effects.
- While business recovery supported results, one-off income also contributed to improved performance compared to previous year.
- Icade reported solid 2013 results with Net Profit (Group Share) increasing 141% compared to 2012 and growing net current cash flow of 1.2%.
- The merger with Silic was completed, making Icade the leading office property company in Europe with a total portfolio of €9.1 billion.
- EPRA Earnings from Property Investment grew 16% to €214.3 million, though declined slightly to €3.52 per share due to the Silic merger.
- Asset rotations continued with nearly €280 million in non-strategic asset sales and €236 million in sales of mature assets.
- Revenue for Deutsche EuroShop was €167.6 million for the first nine months of 2019, a 0.3% increase from the previous year. EBIT increased slightly to €146.9 million.
- Earnings before taxes increased 3.0% to €121.6 million due to interest savings on refinancing and a one-time tax refund. Consolidated profit increased 13.6% to €93.3 million.
- Funds from operations increased slightly to €111.7 million, or €1.81 per share, primarily due to interest savings on refinancing.
Kemira's organic revenue growth and profitability improvement continues
Second quarter in 2013:
- Organic revenue growth was 4%. Reported revenue increased 1% to EUR 569.3 million (562.3).
- Operative EBIT increased 11% to EUR 40.0 million (36.0) with a margin of 7.0% (6.4%).
- The reported earnings per share were reduced to EUR 0.02 (0.20), due to the non-recurring restructuring charges.
- Kemira signed a deal to acquire 3F Chimica S.p.A, a privately owned Italian polymer producer.
1. Deutsche EuroShop reported encouraging results for Q1 2010, with revenue up 9% and net operating income and EBIT both climbing 11%.
2. In February 2010, Deutsche EuroShop acquired the A10 Center in Wildau for €205 million and raised €123 million through a rights issue to refinance the equity portion.
3. Revenue increased 9% to €34.6 million in Q1 2010 primarily due to the consolidation of the newly acquired A10 Center.
- Deutsche Börse AG's CEO Reto Francioni addressed shareholders at the annual general meeting, providing an overview of financial results for 2012 and Q1 2013 as well as the company's strategy.
- In 2012, net revenue declined 9% to €1.93 billion due to uncertainty in the markets, but the company proposed a dividend of €2.10 per share. Q1 2013 saw a 4% revenue decline but an 8% increase over Q4 2012.
- The company's strategic priorities are expanding into unregulated markets, combining market data and IT, and increasing its Asian presence through new products and partnerships. Recent milestones include new clearing offerings and expanding post-trade services.
The financial results for Deutsche EuroShop in Q1 2021 were significantly impacted by the coronavirus pandemic. Revenues fell 9.2% to €51.9 million due to store closures, and EBIT declined 34.9% to €31.4 million. Write-downs on rent receivables increased sharply to €11.9 million reflecting rental concessions. EPRA earnings fell 40% to €23.1 million and FFO declined 41.7% to €22.5 million, both due to lower revenues and higher impairments. While liquidity increased slightly to €244.1 million, ongoing restrictions are expected to continue negatively impacting financial performance in Q2 2021.
- Deutsche EuroShop's operating business is improving after being impacted by the pandemic, with revenue and profits increasing in the first half of 2022. However, rising inflation and other factors are weighing on the economic outlook.
- Footfall in their shopping centers was up significantly compared to 2021 but still below pre-pandemic levels in 2019. Rent collections from tenants averaged 89% of pre-pandemic levels.
- The company plans to redevelop an area in their largest shopping center to create a new food and dining destination, while maintaining strong financial ratios and liquidity. The executive board will be stepping down following a change in ownership of the company.
This document is the transcript of a speech given by Dr. Reto Francioni, the CEO of Deutsche Börse Aktiengesellschaft, at the company's annual general meeting on May 16, 2012. In the speech, Francioni discusses Deutsche Börse's strong financial performance in 2011, achieving the second highest sales revenue in company history. He also outlines the company's growth strategy, continued cost management efforts, and maintained top position compared to other global exchanges. While a planned merger with NYSE Euronext was prohibited, Deutsche Börse has grown on its own and is well positioned for continued growth and value creation for shareholders.
- Revenue increased 11.2% to €222.1 million due to additional capacities in Chongqing and strong demand for IC substrates.
- EBITDA rose 75.4% to €52 million thanks to higher earnings from Chongqing and positive valuation effects. The EBITDA margin increased to 23.4%.
- Profit for the period improved to €13.5 million compared to a loss of €11.2 million in the prior year, as investments in recent years increased productivity.
The document provides key financial figures for Deutsche Euroshop AG for the periods ending September 30, 2017 and September 30, 2016. It shows that revenue, net operating income, EBIT, EBT, consolidated profit, and earnings per share all increased between 5.7-18.1% in the first nine months of 2017 compared to the same period in 2016. Funds from operations per share grew 8% to €1.88. Total assets increased 10.9% to €4,563.5 million due mainly to the acquisition of the Olympia Center in Brno. The company reaffirmed its full-year forecast and expects to propose a dividend of €1.45 per share.
- The document reports on Ageas's 3M 2012 financial results.
- Ageas had a group net loss of EUR 84 million due to losses in its General Account business, but its insurance activities performed strongly.
- The insurance business saw a net profit of EUR 155 million, up 15% from 3M 2011, driven by strong results in Asia and the UK. However, the General Account had a net loss of EUR 239 million due to legacy charges.
Ageas, a Belgian insurance company, held an investor day on November 16, 2013 to review its financial targets and performance. The presentation focused on:
- Achieving an 11% return on equity (ROE) target through improving profitability, changing its business mix, and increasing profits from emerging markets.
- Strong results in the first nine months of 2013, with insurance net profit up 11% and a non-life combined ratio of 97.6%.
- Maintaining a balanced approach to using its net cash position of €2 billion, prioritizing reinvesting in the business and returning cash to shareholders.
This document provides a financial report for Banco Santander for the first half of 2013. Some key highlights include:
- Attributable profit of €2,255 million for H1 2013, up 28.9% from H1 2012.
- Core capital ratio of 11.11% as of June 2013, up from previous quarter.
- Agreement reached to boost Santander's asset management business by partnering with two investment firms.
- Business volumes grew across most regions, especially in Brazil and Latin America.
- Provisions stabilized or decreased across most areas except Spain.
- Santander was recognized as the "Sustainable Global Bank of the Year."
Deutsche Börse AG held its annual press conference in 2014 to report on financial results for 2013 and discuss strategic plans. Key points:
- Net revenue was €1.9 billion and EBIT was €950 million, adjusted for one-time effects. The executive board proposes a dividend of €2.10 per share.
- While revenue was stable, investments in new growth areas lowered EBIT by 5%. Cost savings programs offset this.
- The company expanded market share in some areas and saw record volumes at Clearstream.
- Strategic focus remains on clearing OTC derivatives, collateral/liquidity management, and expanding in Asia through new partnerships and a Singapore clearing house.
- Deutsche
- XING reported its best quarterly results since going public in 2006 in Q3 2014, with total revenues growing 20% to €26 million, driven by growth in the Network/Premium and E-Recruiting segments.
- EBITDA was €9.1 million including a non-operating item, and €9.9 million excluding this item. Net profit was €4.7 million including the item and €5.4 million excluding it.
- XING added 282,000 new platform members in Q3, bringing its total user base to 7.94 million in Germany, Austria and Switzerland. It expects full year 2014 EBITDA of €28-29 million.
Similar to Deutsche EuroShop | Interim Report Q1 2013 (20)
- The company saw a strong comeback in 2023 with increased footfall and retail sales compared to 2022, as well as revenue and FFO growth of over 25% and 30% respectively.
- Key performance indicators were favorable, even excluding acquisitions, and the company has a low LTV of 33.2% and strong cash position of €336.1 million.
- Major investments and developments were undertaken at several shopping centers to attract new tenants and optimize the customer experience.
- The company reported preliminary results for FY 2023 with increased revenue, FFO, and operating performance compared to FY 2022 despite a negative valuation result. Revenue was up 28.4% to €273.3m and FFO increased 31.7% to €171.3m.
- Key performance indicators like footfall and retail sales increased in 2023 compared to 2022 and the company strengthened its balance sheet by acquiring minority interests in shopping centers.
- However, the valuation of investment properties decreased due to rising yields and a muted transaction market, resulting in a valuation loss of €209.1m for FY 2023.
This document provides a summary of a company presentation for February 2024. It discusses the company's strong comeback in operational business with increasing footfall and retail sales. Financially, the company has a low loan-to-value ratio and strong cash position. The company expects continued improvement in operational business for 2023 and forecasts its FFO for the year to increase by over 20% compared to 2022.
This document provides a company presentation for a shopping center company for January 2024. It summarizes the company's strong comeback in operational business with increasing footfall and retail sales above 2019 levels. It also discusses the company's financing and liquidity position, portfolio of shopping centers, and provides a financial overview and forecast for 2023. The presentation aims to provide an update on the company's business activities and performance.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 9M 2023Deutsche EuroShop AG
- The document provides a quarterly report for a shopping center company for the first 9 months of 2023.
- Key highlights include a strong comeback in operational business with footfall and retail sales above 2019 levels, and revenue and funds from operations increasing 34.5% and 28.1% respectively compared to the same period in 2022.
- The company has a solid balance sheet with a low loan-to-value ratio of 32.4% and €280.6 million in cash, and expects to increase funds from operations per share by over 20% for the full year 2023.
This document provides an overview of a company's business development, financing activities, shopping center portfolio, and financial results for the first nine months of 2023. Some key points:
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- The company has a low loan-to-value ratio of 32.4% and a strong cash position. Recent follow-on financings were completed in 2023 for a total of €221 million.
- Independent appraisals showed a slight decrease in property values in the first half of 2023 due to market changes, though
- In the first nine months of 2023, the Deutsche EuroShop Group saw significant revenue growth of 28.1% compared to the same period in 2022, which was driven by both an increase in operational performance and the acquisition of additional property company shares.
- Key financial metrics like NOI, EBIT, EBT and FFO all increased compared to the prior year period. FFO saw the lowest growth of 16.8% but still rose from €111 million to €129.7 million.
- A pro forma comparison accounting for a constant portfolio scope showed more moderate growth rates for revenue (+2.9%), NOI (+3.5%) and EBT (+24.1%) but still
The document provides an overview of a company's business activities and financial results for the first half of 2023. Some key points:
- Retail sales and footfall increased compared to the first half of 2022 and were back to 2019 levels. Revenue and funds from operations also increased.
- The property portfolio valuation was stable at €4.2 billion, with an occupancy rate of 94%.
- Refinancing was completed in 2023 and the company has a long weighted maturity of debt and low loan-to-value ratio.
- The dividend paid in September was €191.2 million and funds from operations for 2023 is expected to increase over 20% compared to 2022.
- Revenue increased 30.2% to €67.8 million due to the acquisition of additional minority interests in shopping centers.
- EBIT rose 46.2% to €57.4 million and EBT excluding measurement gains/losses increased 36.4% to €45.5 million.
- EPRA earnings grew 41.2% to €44.2 million or €0.62 per share, driven by the acquisitions and lower write-downs on rent receivables.
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Deutsche EuroShop | Interim Report Q1 2013
1. Interim Report Q1 2013
Letter from the Executive Board
Dear Shareholders,
Dear Readers,
The year 2013 began with a change in accounting methods at Deutsche
EuroShop. Since the start of the current financial year, we have been
applying IFRS 11 (Joint Arrangements) on a voluntary early basis.This
means that the proportionate consolidation method previously applied
will be replaced by the equity method for a portion of the Group com-
panies. As a result, the assets, liabilities, expenses and income of these
companies will no longer be included in the consolidated financial state-
ments. From 2013 onward, the financial statements for the reporting
period as well as those of the respective periods for year-on-year com-
parisons will be presented using the equity method. We will provide a
detailed description of how this impacts the consolidated balance sheet
and the income statement in the Notes.
But now let us move on to operational aspects: We started the year as
expected. At € 42.4 million, revenue in the first three months was 10 %
higher than in the previous quarter. Net operating income climbed 12 %
to € 38.6 million while EBIT rose 10 % to € 37.3 million.
Consolidated profit grew 22 % to € 20.1 million. Earnings per share
increased from € 0.32 to € 0.37. EPRA (earnings per share), i.e. the
result adjusted for valuation effects, rose from € 0.34 to € 0.40 per share
which corresponds to an increase of 18 %. FFO (funds from operations)
– an important ratio for real estate companies – improved by 11 % from
€ 0.45 to € 0.50 per share.
This growth can essentially be attributed to the contribution made by
the Herold-Center in Norderstedt which has been a part of our port
folio since the beginning of the year.
Shortly after the end of the reporting period, we were able to acquire
third-party interests in another shopping center. Following our acqui-
sition of the remaining 33% of shares from TLG Immobilien, the
Altmarkt-Galerie is now also wholly owned by Deutsche EuroShop
since the start of May. Including the proportionate liabilities assumed
(€62 million), the investment volume amounts to some €132 million.
01.01.–
31.03.2013
01.01.–
31.03.2012 +/-
Revenue 42.4 38.6 10 %
EBIT 37.3 33.8 10 %
Net finance costs -10.1 -9.4 -7 %
Measurement gains / losses -1.4 -0.8 -75 %
EBT 25.8 23.6 9 %
Consolidated profit 20.1 16.5 22 %
FFO per share (€) 0.50 0.45 11 %
EPRA * Earnings per share (€) 0.40 0.34 18 %
31.03.2013 31.12.2012 +/-
Equity ** 1,550.2 1,528.4 1 %
Liabilities 1,536.5 1,630.9 -6 %
Total assets 3,086.6 3,159.3 -2 %
Equity ratio (%) ** 50.2 48.4
LTV-ratio (%) 43 40
Gearing (%) ** 99 107
Cash and cash equivalents 82.0 158.2 -48 %
* European Public Real Estate Association ** incl. non controlling interests
in € million
Key group data
The Altmarkt-Galerie is one of our best centers and, for more than ten
years, has proven to be a popular attraction for visitors in Dresden’s city
centre – 16 million people in the past year alone. No other center in our
portfolio could boast a higher number of visitors and the floor space pro-
ductivity achieved by the center’s retailers is far above the average. So every
body is happy with the Altmarkt-Galerie: customers, tenants and owners.
Following the acquisition of these additional shares in Dresden, we
adjusted our early forecast for the year as a whole. We envisage being able
to pay you a dividend of at least € 1.20 per share for the current finan-
cial year and thank you for placing your trust in Deutsche EuroShop.
Hamburg, May 2013
Claus-Matthias Böge Olaf Borkers
2. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 2 }
Business and
Economic Conditions
Group structure and operating activities
Activities
Deutsche EuroShop is the only public company in Germany to invest
solely in shopping centers in prime locations. As at the reporting
date, it had investments in 20 shopping centers in Germany, Aus-
tria, Poland and Hungary. The Group generates its reported revenue
from rental income on the space which it lets in the shopping centers.
Group’s legal structure
Due to its lean personnel structure, the Deutsche EuroShop Group
is centrally organised. The parent company, Deutsche EuroShop AG,
is responsible for corporate strategy, portfolio and risk management,
financing and communication.
The Company’s registered office is in Hamburg. Deutsche EuroShop
is an Aktiengesellschaft (stock corporation) under German law. The
individual shopping centers are managed as separate companies and,
depending on the share of nominal capital or voting rights, are either
fully consolidated or accounted for using the equity method.
The share capital amounts to € 53,945,536.00 and is composed of
53,945,536 no-par value registered shares. The notional value of each
share is € 1.00.
Macroeconomic and sector-specific conditions
Despite the deepening recession in several Eurozone countries, Ger-
many has weathered the crisis well so far. While growth rates remain
at a low level, Germany still benefits from sound foreign trade and
stable demand on the domestic front. The job market is similarly
robust. However, the overall economic picture is not uniformly pos-
itive. New orders in construction and German automobile sales, for
instance, have slumped.
Debt levels in some countries across the EU continue to rise despite
every effort to cut spending. Reforms have triggered social unrest
in some places. Unemployment is at a record high in the member
states of Southern Europe. It remains to be seen whether Germany
will be able to continue along its growth path in light of these nega-
tive developments.
Retail sales did not perform as well as expected during the first quar-
ter of 2013. Year-on-year, the German retail sector saw a nominal
0.4 % increase, but a 1.0 % decrease in real terms. The average rate
of inflation was at 1.5 %.
Results of Operations,
Financial Position and Net Assets
Results of Operations
Revenue increased by 10 %
Revenue amounted to € 42.4 million as at 31 March 2013. This
is nearly 10 % higher than in the same period of the previous year
(€ 38.6 million), which can largely be attributed to the initial con-
solidation of the Herold-Center in Norderstedt. Revenue also rose
accordingly by 1.1 % year-on-year.
Operating and administrative costs for
property: 9 %
Center operating costs were € 9.6 million in the reporting period,
compared with € 7.4 million in the same period of the previous year.
Costs therefore stood at 9.0 % of revenue (previous year: 10.9 %).
Other operating expenses of €1.8 million
The other operating expenses of € 1.8 million exceeded those of the
previous year (€ 1.4 million) due to one-off costs (€ 0.5 million)
incurred in connection with the corporate restructuring of two sub-
sidiaries.
EBIT up 10%
EBIT increased by € 3.5 million (+10 %) from € 33.8 million to
€ 37.3 million.
Net finance costs down €0.7 million
At € -10.1, net finance costs fell by € 0.7 million which can be attrib-
uted to the issue of a convertible bond at the end of the previous year
as well as the higher profit share for third-party shareholders.
Measurement gains / losses
The measurement gain amounted to € -1.4 million and included
investment costs incurred by our portfolio properties.
EBT excluding measurement gains / losses
up 14 %
Earnings before taxes (EBT) increased from € 23.6 million to
€ 25.8 million (+12 %) while the earnings before taxes and measure-
ment rose from € 24.5 million to € 27.9 million to end 14 % higher
than over the same period of the previous year.
Income taxes down on previous year
As a result of last year’s restructuring, taxes on income and earnings
declined and cannot be compared with the same quarter of the pre-
vious year. Overall, the tax ratio fell from 30 % to 22 %. Tax expense
amounted to € 5.7 million. € 1.0 million of this was attributable to
income taxes to be paid and € 4.7 million to deferred taxes.
3. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 3 }
22 % increase in consolidated profit
Consolidated profit amounted to € 20.1 million, € 3.6 million
(+22 %) higher year-on-year. Earnings per share (basic) amounted to
€ 0.37, compared with € 0.32 last year. EPRA earnings per share rose
18 % from € 0.34 per share to € 0.40.
Earnings per share
01.01. –
31.03.2013
01.01. –
31.03.2012
In € thou-
sands
per share
(€)
In € thou-
sands
per share
(€)
Consolidated profit 20,116 0.37 16,543 0.32
Measurement gains /
losses 1,397 0.03 785 0.02
Measurement gains /
losses for equity
accounted companies 741 0.01 82 0.00
Deferred taxes -525 -0.01 -181 0.00
EPRA* earnings 21,729 0.40 17,229 0.34
Weighted no. of shares
in thousands 53,945 51,935
* European Public Real Estate Association
Funds from Operations (FFO) up 11 %
FFO rose from € 23.2 million to € 26.9 million, or from € 0.45 to
€ 0.50 per share (+11 %).
01.01. –
31.03.2013
01.01. –
31.03.2012
Consolidated profit 20,116 16,543
Measurement gains /
losses 1,397 785
Measurement gains /
losses for equity
accounted companies 741 82
Deferred taxes 4,646 5,742
FFO 26,900 23,152
per share (€) 0.50 0.45
Financial Position and Net Assets
Net assets and liquidity
The Deutsche EuroShop Group’s total assets decreased by € 72.6 mil-
lion compared with the year-end figure in 2012 to € 3,086.6 mil-
lion. Non-current assets increased by € 1.9 million. Receivables and
other current assets increased by € 1.6 million. At € 82.0 million, cash
and cash equivalents were € 76.2 million higher than on 31 Decem-
ber 2012 (€ 158.2 million).
in € thousands
Equity ratio of 50.2 %
The equity ratio (incl. shares held by third-party shareholders)
improved by 1.8 percentage points. It amounted to 50.2 % on the
reporting date compared to 48.4 % on 31 December 2012.
Liabilities
As at 31 March 2013, financial liabilities stood at € 1,274.0 million and
were thus € 83.7 million lower than at the end of 2012. Non-current
deferred tax liabilities increased by € 5.4 million to € 186.0 million
due to additional provisions. Redemption entitlements for third-
party shareholders fell by around € 0.4 million. Other liabilities and
provisions were reduced by €16.1 million, primarily due to tax pay-
ments made.
The Shopping Center Share
Following a year-end closing price of € 31.64 in 2012, a slight down-
ward trend caused Deutsche EuroShop shares to hit € 30.40 on
14 January 2013, their lowest level for the period. A short time later,
they stabilised within a corridor of between € 31.00 and € 31.80. The
share reached its highest closing price of € 32.17 in the first three
months of 2013 on 5 March. This was also a new all-time high. The
price at the end of the reporting period was € 31.56. This is equiva-
lent to a performance of -0.3 % during the first three months. The
MDAX rose by 11.8 % over the same period. Deutsche EuroShop’s
market capitalisation stood at € 1.6 billion at the end of the first
quarter of 2013.
Deutsche EuroShop vs. MDAX and EPRA
Comparison, January to April 2013 (indexed, base of 100, in %)
MDAX EPRADeutsche EuroShop
Jan. Mar.Feb. Apr. May
100
120
80
100
120120
115
110
105
100
95
4. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 4 }
Roadshows and conferences
From January to March, we presented Deutsche EuroShop at road-
shows in Geneva, London and Munich, and at conferences in Frank-
furt and Lyon, where we also held various individual and group meet-
ings with analysts and representatives of institutional investors.
Financial year 2012
On 21 March 2013, we presented our preliminary figures for financial
year 2012 in detail during a teleconference broadcast on our website.
We published the corresponding annual report on 26 April 2013. The
report was prepared under the motto “Hamburg³” and, as always,
offers “colourful” information on the subjects of shopping and real
estate. It also contains portraits of our three shopping centers in and
around Hamburg and introduces the Hanseatic city as the home
of the Company’s registered office. The report can be downloaded
from our website at www.deutsche-euroshop.de/ir and is also avail-
able in e-paper format. The printed edition will be sent out during the
second half of May.
Award for our IR work
After second place last year, Deutsche EuroShop successfully regained
its first place ranking in the MDAX category of the “BIRD 2012”
(Beste Investor Relations Deutschlands – Germany’s Best Investor
Relations). In the overall ranking of the 160 DAX, MDAX, SDAX
and TecDAX companies, Deutsche EuroShop took second place. For
the tenth time, “Börse Online” used the BIRD 2012 questionnaire to
look into the question of how private investors feel about how well
the IR departments of Germany’s large listed corporations keep them
informed. As in past years, the focus of this study was on the credibil-
ity and comprehensibility of corporate communications.
Coverage
At present, 24 financial analysts regularly follow Deutsche EuroShop’s
business performance and also publish studies including concrete
investment recommendations. In March 2013, NORD / LB began
covering our stock. It has issued a “hold” recommendation with a
price target of € 31.00. The majority of analysts' opinions is currently
neutral (14), with four adopting a negative position and six issuing
positive opinions (as at 8 May 2013). A list of analysts and current
reports can be found at www.deutsche-euroshop.de/ir.
Sector / industry group Financial services /
Real estate
Share capital on 31 March 2013 € 53,945,536.00
Number of shares on 31 March 2013
(no-par value registered shares) 53,945,536
Dividend 2012 (proposal) € 1.20
Share price on 30 December 2011 € 31.64
Share price on 28 March 2013 € 31.56
Low / high in the period under review € 30.40 / € 32.17
Market capitalisation on 28 March 2013 € 1.7 billion
Prime Standard Frankfurt and Xetra
OTC trading
Berlin-Bremen, Dusseldorf,
Hamburg, Hanover,
Munich and Stuttgart
Indices
MDAX, EPRA, GPR 250,
EPIX 30, MSCI Small Cap,
EURO STOXX, STOXX Europe
600, HASPAX, F.A.Z.-Index
ISIN DE 000748 020 4
Ticker symbol DEQ, Reuters: DEQGn.DE
Key share data
Analysts
Number
Sell Under
perform
Hold Out-
perform
Buy
0
3
6
9
12
15
0
3
6
9
12
1515
12
9
6
3
0
5. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 5 }
Report on Events after the
Balance Sheet Date
With effect from 1 May 2013, Deutsche EuroShop AG acquired a
33 % stake in the Altmarkt-Galerie Dresden, thus taking its share-
holding to 100 % for this shopping center.
No further significant events occurred between the balance sheet
date of 31 March 2013 and the date of preparation of the financial
statements.
Risk Report
There have been no significant changes since the beginning of the
financial year with regard to the risks associated with future business
development. We do not believe the Company faces any risks capable
of jeopardising its continued existence. The information provided in
the risk report of the consolidated financial statements as at 31 Decem-
ber 2012 is therefore still applicable.
Report on Opportunities and
Outlook
Economic conditions
The German Bundesbank and the federal government expect Ger-
many’s gross domestic product (GDP) to rise by 0.4 % or 0.5 % in
2013. The five economic experts lowered their growth forecasts from
0.8 % to 0.3 % in March. Positive stimuli are expected to come from
private consumer spending, in particular, which will probably con-
tinue its robust development in light of the sustained positive situa-
tion on the job market.
Experts anticipate that the number of unemployed could rise slightly
by 50,000 to 2.949 million, which would correspond to an unem-
ployment rate of 6.9 % (2012: 6.8 %).According to the opinion of
the Experts’ Council, the inflation rate is likely to settle at 1.7 % this
year after averaging 2.0 % in 2012.
In light of this, we expect Deutsche EuroShop’s business to once again
perform positively and according to plan this year.
Expected Results of Operations and
Financial Position
Forecast adjusted following acquisition
Following the acquisition of shares in the Altmarkt-Galerie in
Dresden, we are now adjusting the forecast for financial year 2013,
published in March, and now anticipate:
¤¤ revenue of between € 186 million and € 189 million
(previously: € 170 – € 173 million)
¤¤ earnings before interest and taxes (EBIT) of between€ 162
million and € 165 million (previously: € 148 – € 151 million)
¤¤ earnings before taxes (EBT) without measurement
gains / losses of between € 113 million and € 116 million
(previously: € 112 – € 115 million) and
¤¤ funds from operations (FFO) per share unchanged at
between € 1.99 and € 2.03.
Dividend policy
We intend to maintain our long-term dividend policy geared towards
continuity. We therefore aim to distribute a dividend of at least € 1.20
per share to our shareholders again in financial year 2013.
6. Consolidated balance sheet
Assets
31.03.2013
after switch
31.12.2012
after switch
ASSETS
Non-current assets
Intangible assets 16 16
Property, plant and equipment 256 112
Investment properties 2,490,772 2,490,763
Non-current financial assets 30,293 30,293
Investments in equity-accounted associates 472,175 470,483
Other non-current assets 289 283
Non-current assets 2,993,801 2,991,950
Current assets
Trade receivables 2,707 3,199
Other current assets 8,102 5,975
Cash and cash equivalents 82,033 158,194
Current assets 92,842 167,368
3,086,643 3,159,318
Equity and liabilities
31.03.2013
after switch
31.12.2012
after switch
EQUITY AND LIABILITIES
Equity and reserves
Issued capital 53,945 53,945
Capital reserves 961,970 961,987
Retained earnings 328,179 305,982
Total equity 1,344,094 1,321,914
Non-current liabilities
Financial liabilities 1,215,862 1,167,864
Deferred tax liabilities 185,960 180,525
Right to redeem of limited partners 206,095 206,510
Other liabilities 40,399 42,684
Non-current liabilities 1,648,316 1,597,583
Current liabilities
Bank loans and overdrafts 58,138 189,865
Trade payables 999 2,048
Tax liabilities 12,805 24,569
Other provisions 11,058 12,372
Other liabilities 11,233 10,967
Current liabilities 94,233 239,821
3,086,643 3,159,318
in € thousands
Total assets
in € thousands
Total equity and liabilities
Interim Report Q1 2013
DES Interim Report Q1 2013
{ 6 }
7. Consolidated income statement
01.01. – 31.03.2013
after switch
01.01. – 31.03.2012
after switch
Revenue 42,407 38,628
Property operating costs -1,574 -2,028
Property management costs -2,231 -2,163
Net operating income (NOI) 38,602 34,437
Other operating income 477 715
Other operating expenses -1,823 -1,356
Earnings before interest and taxes (EBIT) 37,256 33,796
Interest income 104 85
Interest expense -13,353 -13,011
Profit/loss attributable to limited partners -3,919 -3,681
Income from equity-accounted associates 7,098 7,193
Net finance costs -10,070 -9,414
Measurement gain / loss -1,397 -785
of which excess of identified net assets acquired over cost of acquisition
in accordance with IFRS 3: € 0,00 thousand (previous year: €-308 thousand)
Earnings before tax (EBT) 25,789 23,597
Income tax expense -5,673 -7,054
Consolidated profit 20,116 16,543
Earnings per share (€), basic 0.37 0.32
Earnings per share (€), diluted 0.36 0.32
01.01. –
31.03.2013
01.01. –
31.03.2012
Consolidated profit 20,116 16,543
Changes in cash flow hedge 2,293 -1,259
Deferred taxes on changes in value offset directly against equity -796 79
Total earnings recognised directly in equity 1,497 -1,180
Total profit 21,613 15,363
Share of Group shareholders 21,613 15,363
in € thousands
in € thousands
Consolidated statement of comprehensive income
Interim Report Q1 2013
DES Interim Report Q1 2013
{ 7 }
8. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 8 } Consolidated cash flow statement
01.01. –
31.03.2013
01.01. –
31.03.2012
Profit after tax 20,116 16,543
Expenses / income from the application of IFRS 3 0 308
Profit / loss attributable to limited partners 3,555 3,662
Depreciation of property, plant and equipment 11 10
Other non-cash income and expenses 806 -58
Profit / loss for the period of equity-accounted companies -1,022 -1,470
Deferred taxes 4,638 5,742
Operating cash flow 28,104 24,737
Changes in receivables -1,637 2,072
Changes in current provisions -13,070 -1,191
Changes in liabilities -629 -1,139
Cash flow from operating activities 12,768 24,479
Payments to acquire property, plant and equipment / investment properties -181 -2,406
Inflows / outflows to / from the financial assets 0 315
Cash flow from investing activities -181 -2,091
Reduction of financial liabilities -84,535 -3,540
Payments to limited partners -2,778 -6,581
Cash flow from financing activities -87,313 -10,121
Net change in cash and cash equivalents -74,726 12,267
Cash and cash equivalents at beginning of period 158,194 54,487
Changes in the financial resources fund due to consolidation changes -1,435 0
Cash and cash equivalents at end of period 82,033 66,754
in € thousands
{ 8 }
9. Statement of changes in equity
Number of
shares
outstanding
Share
capital
Capital
reserves
Other
retained
earnings
Statutory
reserve Total
01.01.2012 51,631,400 51,631 890,482 248,928 2,000 1,193,041
Change in cash flow hedge -1,259 -1,259
Change in deferred taxes 79 79
Total earnings recognised directly in equity 0 0 -1,180 0 -1,180
Consolidated profit 16,543 16,543
Total profit 15,363 15,363
31.03.2012 51,631,400 51,631 890,482 264,291 2,000 1,208,404
01.01.2013 53,945,536 53,945 961,987 303,982 2,000 1,321,914
Change in cash flow hedge 2,293 2,293
Change in deferred taxes -796 -796
Total earnings recognised directly in equity 0 0 1,497 0 1,497
Consolidated profit 20,116 20,116
Total profit 0 0 21,613 0 21,613
Other changes -17 584 567
31.03.2013 53,945,536 53,945 961,970 326,179 2,000 1,344,094
in € thousands
Interim Report Q1 2013
DES Interim Report Q1 2013
{ 9 }
10. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 10 }
Disclosures
Reporting principles
These interim financial statements of the Deutsche EuroShop Group
as at 31 March 2013 have been prepared in accordance with Inter
national Financial Reporting Standards (IFRS).
The management report and the abridged financial statements were
not audited in accordance with section 317 of the Handelsgesetzbuch
(HGB – German Commercial Code), nor were they reviewed by a
person qualified to carry out audits. In the opinion of the Executive
Board, the report contains all of the necessary adjustments required
to give a true and fair view of the results of operations as at the date
of the interim report. The performance of the first three months up to
31 March 2013 is not necessarily an indication of future performance.
The accounting policies applied correspond to those used in the last
consolidated financial statements as at the end of the financial year.
A detailed description of the methods applied was published in the
notes to the consolidated financial statements for 2012. Changes
made to the accounting policies after 1 January 2013 are explained
in the following.
Changes in Accounting Policies
Switch to the equity method
as of 1 January 2013
Joint ventures in which Deutsche EuroShop AG has a majority of
the voting rights together with third parties were previously pro-
portionately included as joint ventures in the consolidated financial
statements in accordance with the option granted by IAS 31. Pro-
portional consolidation will be abolished with the adoption of the
new IFRS 11. In future, joint ventures will always be accounted for
using the equity method.
Adoption of this standard is compulsory as of 1 January 2014. In our
2011 annual report, we had already announced the early adoption of
IFRS 11 as of 2013.
The transition from proportional to equity accounting has an impact
on the structure of our consolidated financial statements. Under the
equity method, assets, liabilities, expenses and income will no longer
be recognised proportionally in balance sheet or income statement
items. The balance sheet will only show equity interest as a carrying
amount and the profit share will be recorded as investment income
in the income statement (financial result). This affects the follow-
ing companies:
¤¤ Altmarkt-Galerie Dresden KG, Hamburg (until 30 April 2013)
¤¤ Allee-Center Magdeburg KG, Hamburg
¤¤ CAK City Arkaden Klagenfurt KG, Hamburg
¤¤ EKZ Eins Errichtungs- und Betriebs Ges.m.b.H. Co OG,
Vienna
¤¤ Einkaufs-Center Arkaden Pécs KG, Hamburg
consolidated balance sheet –
Switch to equity accounting
31.03.2012
before
switch
31.03.2012
After
switch
01.01.2012
After
switch
ASSETS
Non-current assets
Intangible assets 17 17 20
Property, plant and equipment 130 130 137
Investment properties 3,109,257 2,265,017 2,262,611
Non-current financial assets 27,438 27,438 27,815
Investments in equity-accounted
associates 4,576 476,348 475,348
Other non-current assets 427 427 459
Non-current assets 3,141,845 2,769,377 2,766,390
Current assets
Trade receivables 2,911 2,070 4,358
Other current assets 5,942 4,974 13,821
Cash and cash equivalents 78,051 66,754 54,487
Current assets 86,904 73,798 72,666
3,228,749 2,843,175 2,839,056
31.03.2012
before
switch
31.03.2012
After
switch
01.01.2012
After
switch
EQUITY AND LIABILITIES
Equity and reserves
Issued capital 51,631 51,631 51,631
Capital reserves 890,482 890,482 890,482
Retained earnings 266,291 266,291 250,928
Total equity 1,208,404 1,208,404 1,193,041
Non-current liabilities
Financial liabilities 1,330,841 1,070,701 1,076,274
Deferred tax liabilities 216,105 216,105 210,587
Right to redeem of limited
partners 268,718 191,229 202,793
Other liabilities 39,493 32,583 32,288
Non-current liabilities 1,855,157 1,510,618 1,521,942
Current liabilities
Bank loans and overdrafts 137,471 98,595 96,565
Trade payables 3,250 3,061 2,363
Tax liabilities 7,095 7,073 5,913
Other provisions 6,520 5,818 8,169
Other liabilities 10,852 9,606 11,063
Current liabilities 165,188 124,153 124,073
3,228,749 2,843,175 2,839,056
ASSets in € thousands
Total assets
EQUITY AND LIABILITIES
Total equity and liabilities
in € thousands
11. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 11 }
consolidated cash flow statement –
Switch to equity accounting
01.01. –
31.03.2012
before
switch
01.01. –
31.03.2012
after
switch
Revenue 51,935 38,628
Property operating costs -2,481 -2,028
Property management costs -2,877 -2,163
Net operating income (NOI) 46,577 34,437
Other operating income 755 715
Other operating expenses -1,453 -1,356
Earnings before interest and taxes
(EBIT) 45,879 33,796
Interest income 100 85
Interest expense -16,703 -13,011
Profit/loss attributable to limited
partners -4,794 -3,681
Income from equity-accounted
associates 0 7,193
Net finance costs -21,397 -9,414
Measurement gain / loss -867 -785
of which excess of identified
net assets acquired over cost of
acquisition in accordance with
IFRS 3: € 0,00 thousand
(previous year: €-308 thousand)
Earnings before tax (EBT) 23,615 23,597
Income tax expense -7,072 -7,054
Consolidated profit 16,543 16,543
Earnings per share (€), basic 0.32 0.32
Earnings per share (€), diluted 0.32 0.32
in € thousands
In addition, a voting agreement was in place with a co-shareholder
of Immobilien Kommanditgesellschaft FEZ Harburg and Stadt-
Galerie Passau KG until 31 December 2012 which granted Deutsche
EuroShop controlling interest of these companies. These voting
agreements were terminated by mutual agreement as per 31 Decem-
ber 2012. As a result, Deutsche EuroShop no longer has the neces-
sary majority voting interest. The two companies, in which Deutsche
EuroShop AG holds a 50 % and 75 % stake, respectively, were pre-
viously fully consolidated and have also been switched over to the
equity method as of 1 January 2013, which resulted in the following
asset and liability items no longer figuring in the consolidated balance
sheet as of 31 December 2012:
Investment properties 333,370
Receivables and other assets 1,114
Cash and cash equivalents 2,812
Provisions 124
Financial liabilities 109,872
Other liabilities 581
Minority interests 77,666
Withdrawal of Deutsche EuroShop AG from
DB 12 Immobilienfonds
As of 31 December 2012, Deutsche EuroShop withdrew as limited
partner from DB Immobilienfonds 12 Main-Taunus-Zentrum KG
(DB 12 KG). As compensation, Deutsche EuroShop received its lim-
ited partnership interest in the Main-Taunus-Zentrum KG, which
had previously been held directly via DB 12 KG, plus a proportion-
ate share of cash and cash equivalents in the amount of € 1.4 million.
DB 12 KG had previously been fully consolidated. The company
was deconsolidated on 1 January 2013, which resulted in the follow-
ing asset and liability items no longer figuring in the consolidated
balance sheet as of 31 December 2012:
Cash and cash equivalents -2,973
Provisions and liabilities 155
Deconsolidation amount -2,818
This event did not have an impact on earnings. It increases the Com-
pany’s direct shareholding in Main-Taunus-Zentrum KG from 5.74 %
to 52.01 %.
in € thousands
in € thousands
12. Interim Report Q1 2013
DES Interim Report Q1 2013
{ 12 }
Equity-accounted SEGMENT REPORTING
As a holding company, Deutsche EuroShop AG holds equity interests
in shopping centers in the European Union. The investees are pure
shelf companies without staff of their own. Operational management
is contracted out to external service providers under agency agree-
ments, meaning that the companies' activities are exclusively restricted
to asset management. The companies are operated individually.
Due to the Company’s uniform business activities within a relatively
homogeneous region (the European Union), and in accordance with
IFRS 8.12, separate segment reporting is presented in the form of a
breakdown by domestic and international results.
As the Group’s main decision-making body, the Deutsche EuroShop
AG Executive Board largely assesses the performance of the segments
based on the EBIT of the individual property companies. The valu-
ation principles for the segment reporting correspond to those of the
Group. Intra-Group activities between the segments are eliminated
in the reconciliation statement.
In view of the geographical segmentation, no further information
pursuant to IFRS 8.33 is given.
Breakdown by geographical segment
Domes-
tic
Inter
national
Recon-
ciliation Total
Revenue 40,431 1,976 0 42,407
(previous
year’s figures) (35,089) (3,539) (0) (38,628)
Domes-
tic
Inter
national
Recon-
ciliation Total
EBIT 35,418 3,038 -1,200 37,256
(previous
year’s figures) (31,397) (3,648) -(1,249) (33,796)
Domes-
tic
Inter
national
Recon-
ciliation Total
Net interest
income -11,921 -498 -830 -13,249
(previous
year’s figures) -(11,462) -(1,015) -(449) -(12,926)
Domes-
tic
Inter
national
Recon-
ciliation Total
Earnings before
tax (EBT) 26,049 2,724 -2,984 25,789
(previous
year’s figures) (17,668) (1,951) (3,978) (23,597)
in € thousands
in € thousands
in € thousands
in € thousands
Domestic
Inter
national Total
Segment assets 2,867,385 219,258 3,086,643
(previous
year’s figures) (2,940,536) (218,782) (3,159,318)
of which invest-
ment properties 2,276,777 213,995 2,490,772
(previous
year’s figures) (2,276,740) (214,023) (2,490,763)
Other disclosures
Dividend
No dividend was distributed in the first quarter of 2013.
Responsibility statement by the Executive Board
To the best of our knowledge, and in accordance with the applicable
reporting principles for interim financial reporting, the interim con-
solidated financial statements give a true and fair view of the assets,
liabilities, financial position and profit or loss of the Group, and the
interim management report of the Group includes a fair review of
the development and performance of the business and the position
of the Group, together with a description of the principal opportuni-
ties and risks associated with the expected development of the Group
for the remainder of the financial year.
Hamburg, May 2013
Claus-Matthias Böge Olaf Borkers
in € thousands
13. 15.05. Interim report Q1 2013
29.05. Kempen Co. European Property Seminar,
Amsterdam
04.06. Roadshow Paris, Bankhaus Metzler
06.06. Roadshow Milan, Société Générale
06. – 07.06. M.M. Warburg Highlights Conference,
Hamburg
20.06. Annual General Meeting, Hamburg
20.06. Supervisory Board meeting, Hamburg
14.08. Interim report H1 2013
11. – 12.09. Bank of America Merrill Lynch Global Real
Estate Conference, New York
16.09. UBS Best of Germany Conference, New York
23.09. Berenberg Bank and Goldman Sachs German
Corporate Conference, Munich
25.09. Supervisory Board meeting, Hamburg
26.09. Baader Investment Conference, Munich
24.10. Roadshow Amsterdam, ABN AMRO
13.11. Nine-month report 2013
14.11. Roadshow London, Bank of America Merrill
Lynch
26.11. Supervisory Board meeting, Hamburg
27. – 28.11. Bankhaus Lampe Hamburg Investment
Conference, Hamburg
Financial
calendar 2013
Investor relations
contact
Patrick Kiss and Nicolas Lissner
Tel.: +49 (0)40 - 41 35 79 20 / -22
Fax: +49 (0)40 - 41 35 79 29
E-Mail: ir@deutsche-euroshop.com
Internet: www.deutsche-euroshop.com/ir
Our financial calendar is updated continuously.
Please check our website for the latest events:
www.deutsche–euroshop.com/ir