The document provides preliminary results for the fiscal year 2017 for a company that owns and operates shopping centers. Key points include:
- Retail turnover increased 0.0% in Germany and 5.4% abroad on a like-for-like basis.
- EBIT increased 8% to €192 million and FFO per share increased 5.1% to €2.54, beating targets.
- Net asset value (EPRA) increased 14.4% to €43.19 per share.
- The portfolio was independently valued at €5.97 billion, with a like-for-like valuation increase of 0.6%.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement Q1 2017Deutsche EuroShop AG
- Retail sales in Germany declined 2.4% on a like-for-like basis in the first quarter of 2017 compared to the same period in 2016. Most retail sectors saw declines, with the exception of electronics which grew 4.7%.
- Deutsche EuroShop's (DES) net rental income was largely unchanged at €45.8 million in Q1 2017. EBIT increased 11.3% to €34.5 million due to lower financing costs.
- DES acquired the Olympia shopping center in Brno, Czech Republic for approximately €382 million, financed through long-term debt and a capital increase.
Deutsche EuroShop - Conference Call Presentation - Preliminary Results FY 2015Deutsche EuroShop AG
This document provides a summary of preliminary results for fiscal year 2015. Retail turnover in Germany was down 0.2% on a like-for-like basis while abroad was up 1.5%. The top 10 tenants make up 21.7% of total rents, showing a low dependence on large tenants. Over 65% of rental contracts extend beyond 2021, guaranteeing long-term rental income. Key financial figures like revenue, EBIT, and EBT met or exceeded targets for 2015. The valuation of investment properties led to measurement gains of 9.4% and an increase in net asset value per share to €39.12.
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...Deutsche EuroShop AG
This document provides a summary of a half-year financial report conference call held on August 15, 2018. It discusses the company's retail turnover, which decreased 2.0% on a like-for-like basis in Germany in the first half of 2018. It also provides details on the company's profit and loss, funds from operations, earnings per share, balance sheet, loan structure, and financial outlook. Key metrics like FFO increased 5.4% year-over-year while earnings per share was €0.89. The company expects continued revenue, FFO, and dividend growth through 2019.
Terna reported consolidated results for fiscal year 2016, with revenues increasing 1.0% to €2,103 million. EBITDA rose slightly by 0.4% to €1,545 million, while group net income increased 6.3% to €633 million. Capital expenditures decreased 23% to €854 million due to lower regulated capex. Net debt was reduced to €7,959 million compared to €8,003 million in 2015.
Deutsche EuroShop - Conference Call Presentation - Preliminary Results FY 2013Deutsche EuroShop AG
1) Deutsche EuroShop increased its shareholding in the Altmarkt-Galerie Dresden shopping center to 100% in May 2013, investing €132 million.
2) In August 2013, Deutsche EuroShop disposed of its 33% share in the Galeria Dominikanska shopping center in Wroclaw, Poland, realizing a capital gain of €18.5 million.
3) Preliminary results for FY2013 show revenue increased 6% to €187.9 million and consolidated profit increased 41% to €173 million, driven by valuation gains and the capital gain on disposal of the Polish asset.
HeidelbergCement reported its first quarter 2015 results, with revenues increasing 12% year-over-year to €2.8 billion driven by strong growth across all major markets. Operating EBITDA increased 46% to €299 million, with a margin of 10.6% compared to 8.1% in the prior year. Cement volumes were down 1% while aggregates volumes grew 4%. The results reflected continued focus on margin improvement programs and strong demand growth. Energy costs declined significantly year-over-year providing a tailwind for margins in 2015. The company reiterated its outlook for double-digit revenue, income and net income growth in 2015.
HeidelbergCement reported its 2018 full year results, with revenues reaching a record high of 18 billion euros. Volume increased in all business lines, and price increases were achieved in almost all markets. EBITDA was stable despite significant cost inflation and weather impacts. EPS increased 25% to 5.76 euros, driven mainly by strong performance below EBITDA. Net debt was reduced further despite higher growth capex. Portfolio optimization efforts led to close to 600 million euros in disposals in 2018. Solid EBITDA growth and further net debt reduction are expected in 2019.
The document provides preliminary results for the fiscal year 2017 for a company that owns and operates shopping centers. Key points include:
- Retail turnover increased 0.0% in Germany and 5.4% abroad on a like-for-like basis.
- EBIT increased 8% to €192 million and FFO per share increased 5.1% to €2.54, beating targets.
- Net asset value (EPRA) increased 14.4% to €43.19 per share.
- The portfolio was independently valued at €5.97 billion, with a like-for-like valuation increase of 0.6%.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement Q1 2017Deutsche EuroShop AG
- Retail sales in Germany declined 2.4% on a like-for-like basis in the first quarter of 2017 compared to the same period in 2016. Most retail sectors saw declines, with the exception of electronics which grew 4.7%.
- Deutsche EuroShop's (DES) net rental income was largely unchanged at €45.8 million in Q1 2017. EBIT increased 11.3% to €34.5 million due to lower financing costs.
- DES acquired the Olympia shopping center in Brno, Czech Republic for approximately €382 million, financed through long-term debt and a capital increase.
Deutsche EuroShop - Conference Call Presentation - Preliminary Results FY 2015Deutsche EuroShop AG
This document provides a summary of preliminary results for fiscal year 2015. Retail turnover in Germany was down 0.2% on a like-for-like basis while abroad was up 1.5%. The top 10 tenants make up 21.7% of total rents, showing a low dependence on large tenants. Over 65% of rental contracts extend beyond 2021, guaranteeing long-term rental income. Key financial figures like revenue, EBIT, and EBT met or exceeded targets for 2015. The valuation of investment properties led to measurement gains of 9.4% and an increase in net asset value per share to €39.12.
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...Deutsche EuroShop AG
This document provides a summary of a half-year financial report conference call held on August 15, 2018. It discusses the company's retail turnover, which decreased 2.0% on a like-for-like basis in Germany in the first half of 2018. It also provides details on the company's profit and loss, funds from operations, earnings per share, balance sheet, loan structure, and financial outlook. Key metrics like FFO increased 5.4% year-over-year while earnings per share was €0.89. The company expects continued revenue, FFO, and dividend growth through 2019.
Terna reported consolidated results for fiscal year 2016, with revenues increasing 1.0% to €2,103 million. EBITDA rose slightly by 0.4% to €1,545 million, while group net income increased 6.3% to €633 million. Capital expenditures decreased 23% to €854 million due to lower regulated capex. Net debt was reduced to €7,959 million compared to €8,003 million in 2015.
Deutsche EuroShop - Conference Call Presentation - Preliminary Results FY 2013Deutsche EuroShop AG
1) Deutsche EuroShop increased its shareholding in the Altmarkt-Galerie Dresden shopping center to 100% in May 2013, investing €132 million.
2) In August 2013, Deutsche EuroShop disposed of its 33% share in the Galeria Dominikanska shopping center in Wroclaw, Poland, realizing a capital gain of €18.5 million.
3) Preliminary results for FY2013 show revenue increased 6% to €187.9 million and consolidated profit increased 41% to €173 million, driven by valuation gains and the capital gain on disposal of the Polish asset.
HeidelbergCement reported its first quarter 2015 results, with revenues increasing 12% year-over-year to €2.8 billion driven by strong growth across all major markets. Operating EBITDA increased 46% to €299 million, with a margin of 10.6% compared to 8.1% in the prior year. Cement volumes were down 1% while aggregates volumes grew 4%. The results reflected continued focus on margin improvement programs and strong demand growth. Energy costs declined significantly year-over-year providing a tailwind for margins in 2015. The company reiterated its outlook for double-digit revenue, income and net income growth in 2015.
HeidelbergCement reported its 2018 full year results, with revenues reaching a record high of 18 billion euros. Volume increased in all business lines, and price increases were achieved in almost all markets. EBITDA was stable despite significant cost inflation and weather impacts. EPS increased 25% to 5.76 euros, driven mainly by strong performance below EBITDA. Net debt was reduced further despite higher growth capex. Portfolio optimization efforts led to close to 600 million euros in disposals in 2018. Solid EBITDA growth and further net debt reduction are expected in 2019.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
The document summarizes Terna's consolidated results for the first quarter of 2017. Key highlights include total revenues increasing 1.3% year-over-year to €524 million. EBITDA grew 1.9% to €403 million and group net income increased 10.6% to €179 million. Capital expenditures were €100 million. Net debt decreased to €7.445 billion from €7.959 billion at the end of 2016 due to positive free cash flow. Regulated activities revenues increased 3.5% to €488 million.
1) Terna reported solid results for the first half of 2017, with revenues increasing 0.7% to €1,047 million and net income growing 8.2% to €351 million compared to the same period last year.
2) Regulated transmission and dispatching activities drove revenue growth, increasing 2.1% to €962 million, while costs remained well controlled.
3) Positive cash flow was generated over the period, covering both capital expenditures of €326 million and dividend payments, while maintaining a solid financial position with net debt of €7,959 million.
Terna reported its consolidated results for the first 9 months of 2017. Revenues increased 5% to €1.627 billion driven by growth in regulated and international activities. EBITDA rose 3% to €1.207 billion due to solid performance of domestic regulated business. Capex was €545 million, in line with full year guidance. Net income increased 9% to €529 million, reflecting revenue and cost control. Cash flow covered investments and dividends. Terna confirmed its targets for 2017.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
9M 2014 Consolidated Results (12 novembre 2014)Terna SpA
The document summarizes the 9M14 consolidated results of an unnamed company. Key highlights include:
- Revenues increased 3.3% to €1.448 billion driven by growth in non-traditional activities. EBITDA was up 0.2% at €1.135 billion.
- Net income grew 1.5% to €418 million despite higher financial expenses. Capex was €652 million, down 14% year-over-year.
- Net debt increased slightly to €6.688 billion with 66% in bonds and 20% from EIB loans. The outlook for 2014 remains in line with 2013.
HeidelbergCement Half-Year Financial Report January to June 2017HeidelbergCement
The document provides an overview of HeidelbergCement's 2017 half year results. Some key points:
- Group profit increased 17% year-over-year to 288 million euros due to successful integration of the Italcementi acquisition.
- Revenue increased 29% and operating EBITDA increased 22% compared to the prior year period. Synergy targets from the Italcementi acquisition were already achieved in June, exceeding expectations.
- Results were solid despite headwinds from weather, Easter timing, and Ramadan. An upward trend was seen starting in May. Cash flow was impacted by increased working capital and an acquisition in the Pacific Northwest. Full year outlook is confirmed.
HeidelbergCement reports results for the third quarter of 2017 HeidelbergCement
This document provides an overview and key figures from HeidelbergCement's 2017 third quarter results presentation. Some key points:
- Organic growth turned positive in Q3 2017, with like-for-like EBITDA increasing 7% and the Group margin reaching 23%.
- Synergy targets from the Italcementi acquisition were significantly over-achieved.
- EPS increased 38% to €2.42, driven by improved net financial results and stable costs.
- Group share of profit increased 42% to €481 million in Q3 2017.
- Free cash flow generation of €1.2 billion over the last 12 months brought net debt down to €9.6
2017 ANNUAL RESULTS AND 2018-2022 BUSINESS PLANERG S.p.A.
ERG presented its 2017 annual results and 2018-2022 business plan at an investor day on March 8, 2018. The company achieved strong operating results in 2017, exceeding guidance on key financial metrics such as EBITDA and net financial position. ERG has successfully transformed its business from oil to renewables through acquisitions and divestitures, with its capital now fully rotated to wind, solar, and hydro power generation. The new business plan aims to further grow the company's renewable installed capacity to over 1.7 GW by 2022 through organic growth and M&A.
Terna reported its consolidated results for the first half of 2015. Revenues increased 5.5% to €1,002 million driven by growth in regulated transmission activities. Net profit was up 13.1% to €310 million due to cost control and lower taxes. Capex totaled €439 million, focusing on development projects to support grid infrastructure. Net debt was €6,876 million and key financial metrics were in line with targets.
Presentation of the CEO Dr. Bernd Scheifele, Annual General Meeting 2017HeidelbergCement
The document discusses HeidelbergCement's annual general meeting in 2017. It summarizes that in 2016, HeidelbergCement strengthened its position through acquiring Italcementi, achieved an investment grade rating, and increased results. Key financial figures for 2016 show revenue growth due to the acquisition and increased profits. An outlook expects further growth in 2017 despite challenging market conditions.
1H 2014 Consolidated Results (24 luglio 2014)Terna SpA
This document provides a summary of Terna's consolidated financial results for the first half of 2014. Some key highlights include:
- Total revenues increased 3.4% to €950 million driven by growth in non-traditional activities.
- EBITDA grew 2.8% to €753 million with an EBITDA margin of 79.2%.
- Group net income increased 4.1% to €275 million.
- Net debt stood at €7.083 billion as of June 30, 2014.
- Total capex was €386 million, a decrease of 23% year-over-year.
HeidelbergCement: Interim Financial Report January to March 2017HeidelbergCement
The document provides an overview and key figures for HeidelbergCement's 2017 first quarter results. Some of the key points included:
- Cement and aggregates volumes were above the prior year levels based on proforma figures, though operating EBITDA was slightly down 2% due to cost inflation and weather impacts.
- The integration of Italcementi is progressing on track, with improvements clearly visible in results. Synergies are ahead of targets.
- Results were solid across most regions despite strong prior year comparisons and cost inflation, though some emerging markets faced pressure.
- The outlook for energy costs improved due to declining commodity prices, and a solid demand outlook is expected in key
Arthur D. Little Automotive Report January 2020Fabrizio Arena
Please take a look at our Automotive Report – January 2020 with main registrations results in Europe and Italy
Please note that this issue also includes a Focus on the repercussions that the Coronavirus is beginning to have not only on OEMs production in China but also in Europe and abroad where OEM factories start to shutdown because of supply chain disruption
The document provides a trading statement and financial information for HeidelbergCement for 2014. Some key points:
- Solid volume increases were seen in all business lines across the group. Revenue increased 8% on a like-for-like basis and operating EBITDA increased 9% on a like-for-like basis.
- The disposal of the Building Products business line was successfully completed for 1.4 billion USD. Net debt was reduced to below 7 billion EUR.
- 5.6 million tons of new cement capacity was commissioned in Africa, Indonesia, and Kazakhstan.
- In North America, the market recovery continued with prices up across all business lines and regions. Volumes also increased
The Hera Group, an Italian multi-utility company, announced financial results for the first half of 2011, reporting increased revenue, EBITDA, operating results, and net profit compared to the same period in 2010. Revenues grew 9.8% to €1.98 billion on strong electricity sales and regulated business growth. EBITDA increased 9.7% to €344 million through competitive advantages and regulated sector expansion. The results indicate continued industrial development and competitive positioning in liberalized markets.
- Wärtsilä's order intake for the first nine months of 2020 decreased 14% to EUR 3.24 billion compared to the same period in 2019. Net sales decreased 3% to EUR 3.385 billion.
- The comparable operating result decreased 32% to EUR 172 million, representing 5.1% of net sales, down from 7.1% for the same period last year. This was impacted by a decline in services due to COVID-19 and weaker absorption of fixed costs.
- Cash flow from operating activities increased to EUR 407 million, up from EUR 269 million for the same period in 2019.
The document provides an overview of HeidelbergCement's half year 2016 results. Key points include:
- Solid start to the year with volume increases across all business lines and an 8.5% increase in operating EBITDA.
- Net debt was reduced to €5.9 billion while leverage decreased to 2.2x.
- 45% of Italcementi shares have been acquired and the mandatory takeover offer for the remaining shares will begin at the end of August.
- Regional results were positively reported across most areas with particularly strong performance in North America where margins continued to improve.
HeidelbergCement reported solid results for the first quarter of 2016, with mid-single digit increases in both cement and aggregates volumes and a 13% increase in operating EBITDA. The company saw strong operational performance across all business lines leading to margin improvements. Additionally, net debt was reduced to €5.9 billion while leverage decreased to 2.2x. The company increased its full year operating EBITDA target to "high single to double digit growth" and remains on track to complete the Italcementi acquisition in the second half of 2016.
Deutsche EuroShop acquired 100% of the shares in Olympia Center Brno, a shopping center located in Brno, Czech Republic, for approximately €382 million. The 85,000 square meter shopping center has approximately 200 shops, a 98.5% occupancy rate, and attracts over 8 million visitors annually. The acquisition of Olympia Center Brno marks Deutsche EuroShop's first center in the Czech Republic and 21st overall.
Deutsche EuroShop: Acquisition of Saarpark-Center, Neunkirchen Deutsche EuroShop AG
Deutsche EuroShop acquired a 50% stake in Saarpark-Center Neunkirchen, a shopping center located in Neunkirchen, Germany. The 35,600 square meter shopping center was built in 1989 and refurbished in 1999 and 2009. It has approximately 130 shops and is anchored by retailers like C&A, Müller, H&M, and REWE. The acquisition price for the 50% stake was approximately €113 million.
Hera Group reported positive financial results for the first half of 2015, with revenues increasing 6.4%, EBITDA up 2.5%, and net profit growing 11.4% compared to the same period last year. All business segments returned to revenue growth in the second quarter. Cash flow was also positive, covering dividend payments and partially funding acquisitions. The presentation provided details on financial and operating metrics for the first half by business segment.
The document summarizes Terna's consolidated results for the first quarter of 2017. Key highlights include total revenues increasing 1.3% year-over-year to €524 million. EBITDA grew 1.9% to €403 million and group net income increased 10.6% to €179 million. Capital expenditures were €100 million. Net debt decreased to €7.445 billion from €7.959 billion at the end of 2016 due to positive free cash flow. Regulated activities revenues increased 3.5% to €488 million.
1) Terna reported solid results for the first half of 2017, with revenues increasing 0.7% to €1,047 million and net income growing 8.2% to €351 million compared to the same period last year.
2) Regulated transmission and dispatching activities drove revenue growth, increasing 2.1% to €962 million, while costs remained well controlled.
3) Positive cash flow was generated over the period, covering both capital expenditures of €326 million and dividend payments, while maintaining a solid financial position with net debt of €7,959 million.
Terna reported its consolidated results for the first 9 months of 2017. Revenues increased 5% to €1.627 billion driven by growth in regulated and international activities. EBITDA rose 3% to €1.207 billion due to solid performance of domestic regulated business. Capex was €545 million, in line with full year guidance. Net income increased 9% to €529 million, reflecting revenue and cost control. Cash flow covered investments and dividends. Terna confirmed its targets for 2017.
Gruppo Hera reported a 0.4% increase in EBITDA and a 5.3% increase in net profit for Q1 2016 despite a 5.4% decrease in revenues. Organic growth and cost efficiency measures offset 75% of the impact of lower regulated returns. Increased volumes in special waste and expansion in energy markets contributed to growth, while revenues were affected by lower energy sales and network tariffs. Strong cash flow and working capital management helped reduce net debt.
9M 2014 Consolidated Results (12 novembre 2014)Terna SpA
The document summarizes the 9M14 consolidated results of an unnamed company. Key highlights include:
- Revenues increased 3.3% to €1.448 billion driven by growth in non-traditional activities. EBITDA was up 0.2% at €1.135 billion.
- Net income grew 1.5% to €418 million despite higher financial expenses. Capex was €652 million, down 14% year-over-year.
- Net debt increased slightly to €6.688 billion with 66% in bonds and 20% from EIB loans. The outlook for 2014 remains in line with 2013.
HeidelbergCement Half-Year Financial Report January to June 2017HeidelbergCement
The document provides an overview of HeidelbergCement's 2017 half year results. Some key points:
- Group profit increased 17% year-over-year to 288 million euros due to successful integration of the Italcementi acquisition.
- Revenue increased 29% and operating EBITDA increased 22% compared to the prior year period. Synergy targets from the Italcementi acquisition were already achieved in June, exceeding expectations.
- Results were solid despite headwinds from weather, Easter timing, and Ramadan. An upward trend was seen starting in May. Cash flow was impacted by increased working capital and an acquisition in the Pacific Northwest. Full year outlook is confirmed.
HeidelbergCement reports results for the third quarter of 2017 HeidelbergCement
This document provides an overview and key figures from HeidelbergCement's 2017 third quarter results presentation. Some key points:
- Organic growth turned positive in Q3 2017, with like-for-like EBITDA increasing 7% and the Group margin reaching 23%.
- Synergy targets from the Italcementi acquisition were significantly over-achieved.
- EPS increased 38% to €2.42, driven by improved net financial results and stable costs.
- Group share of profit increased 42% to €481 million in Q3 2017.
- Free cash flow generation of €1.2 billion over the last 12 months brought net debt down to €9.6
2017 ANNUAL RESULTS AND 2018-2022 BUSINESS PLANERG S.p.A.
ERG presented its 2017 annual results and 2018-2022 business plan at an investor day on March 8, 2018. The company achieved strong operating results in 2017, exceeding guidance on key financial metrics such as EBITDA and net financial position. ERG has successfully transformed its business from oil to renewables through acquisitions and divestitures, with its capital now fully rotated to wind, solar, and hydro power generation. The new business plan aims to further grow the company's renewable installed capacity to over 1.7 GW by 2022 through organic growth and M&A.
Terna reported its consolidated results for the first half of 2015. Revenues increased 5.5% to €1,002 million driven by growth in regulated transmission activities. Net profit was up 13.1% to €310 million due to cost control and lower taxes. Capex totaled €439 million, focusing on development projects to support grid infrastructure. Net debt was €6,876 million and key financial metrics were in line with targets.
Presentation of the CEO Dr. Bernd Scheifele, Annual General Meeting 2017HeidelbergCement
The document discusses HeidelbergCement's annual general meeting in 2017. It summarizes that in 2016, HeidelbergCement strengthened its position through acquiring Italcementi, achieved an investment grade rating, and increased results. Key financial figures for 2016 show revenue growth due to the acquisition and increased profits. An outlook expects further growth in 2017 despite challenging market conditions.
1H 2014 Consolidated Results (24 luglio 2014)Terna SpA
This document provides a summary of Terna's consolidated financial results for the first half of 2014. Some key highlights include:
- Total revenues increased 3.4% to €950 million driven by growth in non-traditional activities.
- EBITDA grew 2.8% to €753 million with an EBITDA margin of 79.2%.
- Group net income increased 4.1% to €275 million.
- Net debt stood at €7.083 billion as of June 30, 2014.
- Total capex was €386 million, a decrease of 23% year-over-year.
HeidelbergCement: Interim Financial Report January to March 2017HeidelbergCement
The document provides an overview and key figures for HeidelbergCement's 2017 first quarter results. Some of the key points included:
- Cement and aggregates volumes were above the prior year levels based on proforma figures, though operating EBITDA was slightly down 2% due to cost inflation and weather impacts.
- The integration of Italcementi is progressing on track, with improvements clearly visible in results. Synergies are ahead of targets.
- Results were solid across most regions despite strong prior year comparisons and cost inflation, though some emerging markets faced pressure.
- The outlook for energy costs improved due to declining commodity prices, and a solid demand outlook is expected in key
Arthur D. Little Automotive Report January 2020Fabrizio Arena
Please take a look at our Automotive Report – January 2020 with main registrations results in Europe and Italy
Please note that this issue also includes a Focus on the repercussions that the Coronavirus is beginning to have not only on OEMs production in China but also in Europe and abroad where OEM factories start to shutdown because of supply chain disruption
The document provides a trading statement and financial information for HeidelbergCement for 2014. Some key points:
- Solid volume increases were seen in all business lines across the group. Revenue increased 8% on a like-for-like basis and operating EBITDA increased 9% on a like-for-like basis.
- The disposal of the Building Products business line was successfully completed for 1.4 billion USD. Net debt was reduced to below 7 billion EUR.
- 5.6 million tons of new cement capacity was commissioned in Africa, Indonesia, and Kazakhstan.
- In North America, the market recovery continued with prices up across all business lines and regions. Volumes also increased
The Hera Group, an Italian multi-utility company, announced financial results for the first half of 2011, reporting increased revenue, EBITDA, operating results, and net profit compared to the same period in 2010. Revenues grew 9.8% to €1.98 billion on strong electricity sales and regulated business growth. EBITDA increased 9.7% to €344 million through competitive advantages and regulated sector expansion. The results indicate continued industrial development and competitive positioning in liberalized markets.
- Wärtsilä's order intake for the first nine months of 2020 decreased 14% to EUR 3.24 billion compared to the same period in 2019. Net sales decreased 3% to EUR 3.385 billion.
- The comparable operating result decreased 32% to EUR 172 million, representing 5.1% of net sales, down from 7.1% for the same period last year. This was impacted by a decline in services due to COVID-19 and weaker absorption of fixed costs.
- Cash flow from operating activities increased to EUR 407 million, up from EUR 269 million for the same period in 2019.
The document provides an overview of HeidelbergCement's half year 2016 results. Key points include:
- Solid start to the year with volume increases across all business lines and an 8.5% increase in operating EBITDA.
- Net debt was reduced to €5.9 billion while leverage decreased to 2.2x.
- 45% of Italcementi shares have been acquired and the mandatory takeover offer for the remaining shares will begin at the end of August.
- Regional results were positively reported across most areas with particularly strong performance in North America where margins continued to improve.
HeidelbergCement reported solid results for the first quarter of 2016, with mid-single digit increases in both cement and aggregates volumes and a 13% increase in operating EBITDA. The company saw strong operational performance across all business lines leading to margin improvements. Additionally, net debt was reduced to €5.9 billion while leverage decreased to 2.2x. The company increased its full year operating EBITDA target to "high single to double digit growth" and remains on track to complete the Italcementi acquisition in the second half of 2016.
Deutsche EuroShop acquired 100% of the shares in Olympia Center Brno, a shopping center located in Brno, Czech Republic, for approximately €382 million. The 85,000 square meter shopping center has approximately 200 shops, a 98.5% occupancy rate, and attracts over 8 million visitors annually. The acquisition of Olympia Center Brno marks Deutsche EuroShop's first center in the Czech Republic and 21st overall.
Deutsche EuroShop: Acquisition of Saarpark-Center, Neunkirchen Deutsche EuroShop AG
Deutsche EuroShop acquired a 50% stake in Saarpark-Center Neunkirchen, a shopping center located in Neunkirchen, Germany. The 35,600 square meter shopping center was built in 1989 and refurbished in 1999 and 2009. It has approximately 130 shops and is anchored by retailers like C&A, Müller, H&M, and REWE. The acquisition price for the 50% stake was approximately €113 million.
Deutsche EuroShop is Germany's only public company that invests solely in shopping centers. It owns 20 shopping centers located primarily in Germany as well as one center each in Austria, Hungary, and Poland. The company focuses on high-quality shopping centers located in prime locations that have occupancy rates around 99% and visitation of over 100 million people annually. Deutsche EuroShop aims to provide long-term growth and stable dividends through its "buy and hold" strategy of acquiring and expanding shopping centers, with a current dividend yield of 3.7%.
The document summarizes the key components of a toy compiler, including the front end, back end, and their functions. The front end performs lexical, syntax and semantic analysis to determine the validity and meaning of source statements. It outputs symbol tables and intermediate code. The back end performs memory allocation and code generation using the symbol tables and intermediate code. Code generation determines instruction selection and addressing modes to synthesize assembly code from the intermediate representation.
Deutsche EuroShop is Germany's only public company that invests solely in shopping centers. It owns 21 shopping centers located primarily in Germany but also in Austria, Czech Republic, Hungary, and Poland. The company focuses on long-term growth through acquisitions, expansions, and maintaining high occupancy rates. Key figures show growing revenue, FFO, and total equity in recent years.
This document provides the solutions to ACC 557 homework assignments 1-5 for an accounting course. It includes solutions to various exercises involving preparing journal entries, T-accounts, trial balances, income statements, and adjusting entries. The document also provides the directions and questions for multiple accounting problems involving corporations, partnerships, inventory valuation, and more. Students can download this file to obtain the full worked out solutions to the homework assignments.
The document provides instructions for a course project involving completing the accounting cycle for a new small business called Rawls Repair Corporation. It includes a list of October transactions, a chart of accounts, and 10 requirements to journalize transactions, prepare trial balances and financial statements, record adjusting and closing entries, and prepare a post-closing trial balance. Completing the project involves using the general journal, T-accounts, and financial statements templates provided.
This document discusses the differences between tests and specifications, and how to write formal specifications for systems using TLA+. Tests check implementation details, while specifications check high-level design. TLA+ is introduced as a formal specification language that can be used to define abstract models of systems and check for complex bugs. Writing specifications in TLA+ helps validate system designs before implementation. Examples are provided showing how processes, variables, and properties can be specified in TLA+ to model behaviors like multi-device app installation.
The Use of Social Media by European Investment Professionals 2015Patrick Kiss
The survey found that most respondents were analysts or had mixed functions. It surveyed investment professionals in several European countries, with most respondents from Germany. It asked about their use of various information sources like social media, traditional media, and company websites. While respondents saw company websites and social media as becoming more important over time, they still viewed traditional sources as more important for investment decisions. Around half of respondents used LinkedIn or Xing, but many were skeptical of social media's reliability and relevance. Most communication was through email rather than social media.
This document discusses dividend policy and the various theories around it. It defines dividends and discusses Walter's model and Gordon's model, which propose that dividend policy affects firm value. It also covers the irrelevance theories of Modigliani-Miller and the traditional approach, which argue that dividend policy does not impact value. The document provides formulas for the different models and discusses their assumptions and criticisms.
Cosas que he aprendido de mis errores y que le contaria a..SalonMiEmpresa
Este documento presenta 10 lecciones que el orador, un ingeniero informático con experiencia trabajando en startups, habría querido saber hace 10 años. Estas incluyen evitar socios tecnológicos problemáticos, inversores difíciles, modas tecnológicas pasajeras, y asegurarse de conocer bien el mercado. También aconseja trabajar con cuidado con las administraciones públicas, proyectos europeos, mantener el enfoque, construir credibilidad con usuarios reales, y tener cuidado con los préstamos
This document discusses the ethics of educational and social research. It covers informed consent, which involves competence, voluntarism, full information, and comprehension. Guidelines for reasonably informed consent include explaining procedures, risks, benefits, alternative procedures, answering inquiries, and the right to withdraw. Negotiating access involves gaining official permission and informing participants. Factors that influence ethics include the participants' age and sensitivity of subject matter. Sources of tension are non-maleficence, absolutist vs. relativist ethics, and unforeseen problems. Ethical dilemmas concern coercing participation and invading privacy or withholding information.
This document discusses many ideas and trends related to the future of healthcare and technology. Some key points discussed include:
- Software and digital technologies will continue to transform healthcare and how it is delivered.
- Many healthcare services will move from hospitals and doctors' offices into the home through remote monitoring, telehealth, and other technologies.
- Artificial intelligence and machine learning will play a growing role in areas like medical research, drug development, and personalized treatment recommendations.
- An aging population will increase demand for more accessible and affordable healthcare solutions supported by digital tools.
- Countries and healthcare systems will need to adapt quickly to these changes or risk being left behind as technology disrupts traditional models of care
Thèse professionnelle - Le marketing sensoriel peut-il être considéré comme u...robinlajou66
“Nos cinq sens imparfaits, donnés par la nature, De nos biens, de nos maux sont la seuls mesure.”
En 1734, Voltaire aurait dors et déjà pris la mesure de l’influence des sens sur la détermination de nos envies. En effet l’Homme a à sa disposition cinq sens lui permettant la perception de son environnement. Il peut ainsi échanger et ressentir des sensations diverses. Chacun de ses sens représente un pan de la personnalité de chaque être. Scientifiquement, les capteurs sensoriels transmettent continuellement des informations au cerveau qui en distingue des sensations. Il est alors permis de s’interroger sur le pouvoir de ces sensations. Dans un contexte actuel caractérisé par une concurrence croissante, les entreprises sont en recherche constante d’innovation en termes de marketing afin de proposer la meilleure expérience client. Le marketing sensoriel qui s’est popularisé dans les années 2000 regroupe l’ensemble des techniques marketings qui sollicitent un ou plusieurs des cinq sens du consommateur.
Ces sensations conditionnent nos envies, il s’agit alors d’évaluer dans quelles mesures les enseignes recherchent à stimuler les sens jusqu’alors délaissés, notamment l’ouïe et l’olfactif. S’intéresser à ce type de marketing pourrait il, alors, s’avérer être une stratégie de différenciation déterminante pour les entreprises.
Dans la perspective d’apporter des éléments de réponses, une première partie de la recherche sera consacrée à l’étude de la doctrine spécialisée dans le domaine afin de cerner plus précisément le sujet et les enjeux qui le représentent. La partie suivante, consacrée l’analyse terrain, permet de mesurer de manière scientifique les effets de l’application des différents éléments du marketing sensoriel sur le comportement des consommateurs. Des éléments de réponses quant à l’efficacité avérée des pratiques du marketing sensoriel en tant qu’avantage concurrentiel, ainsi que des préconisations réalistes seront présentées dans une dernière partie.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 3M 2018Deutsche EuroShop AG
This document summarizes the key financial information from a quarterly statement conference call held on May 16, 2018. Retail turnover in the first three months of 2018 was down 0.5% on a like-for-like basis. Net operating income increased 9% to €50.1 million compared to the same period in 2017. FFO per share declined slightly by 1.6% to €0.61. The company forecasts revenue growth of 2.5-3.4% annually through 2019 and plans to increase its dividend to €1.45 per share for 2018 and €1.50 for 2019.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 9M 2017Deutsche EuroShop AG
The document provides quarterly financial information for Deutsche EuroShop AG for the first nine months of 2017. Key highlights include:
- Retail turnover increased 1.0% in German centers and 5.4% abroad on a like-for-like basis. Overall turnover for DES portfolio increased 1.8%.
- Net operating income increased 6.1% to €144.4 million and EBIT increased 6.7% to €140.2 million.
- FFO per share increased 8.0% to €1.88 and earnings per share increased 11.2% to €1.49.
- Non-current assets increased to €4.47 billion and equity increased to €
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement H1 2017Deutsche EuroShop AG
- The document is Deutsche EuroShop's half-year financial report for 2017, which includes key financial figures and performance metrics for H1 2017.
- Retail turnover in German centers declined slightly by 0.4% on a like-for-like basis in H1 2017, while international turnover grew by 3.6%.
- Key financial highlights include a 15.5% increase in consolidated profit to €56.2 million and a 7.8% rise in FFO per share to €1.25, driven by contributions from acquisitions.
- The company forecasts further growth in 2018, with projected increases in FFO, FFO per share, EBT excluding valuation, revenue and E
Deutsche EuroShop - Conference Call Presentation - Interim Report Q1 2015Deutsche EuroShop AG
The document summarizes the Q1 2015 results of Deutsche EuroShop AG, a German real estate investment company focused on shopping centers. Key highlights include:
- Retail sector sales increased 1% overall in Q1, led by department stores, health/beauty, and general retail. Fashion/textiles declined.
- Deutsche EuroShop's net rental income was up 1% to €46.1 million. EBIT increased 1% to €44.6 million.
- Net finance costs declined 7% to €12.9 million due to lower interest expenses. EBT rose 7% to €31.3 million.
- Consolidated profit increased 12% to €25.3 million.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 9M 2016Deutsche EuroShop AG
The document provides quarterly financial results for Deutsche EuroShop AG for the first nine months of 2016. Key highlights include:
- Retail turnover in German centers declined 1.7% on a like-for-like basis.
- Revenue increased 0.8% to €152.3 million.
- Funds from operations (FFO) per share grew 3.7% to €1.74.
- Earnings per share declined 2.2% to €1.34 due to valuation effects.
- The company acquired a 50% stake in the Saarpark-Center shopping center in Neunkirchen for approximately €113 million.
- Retail turnover for 2018 was down 2.8% on a like-for-like basis compared to the previous year. Fashion textiles saw the largest decline at 4%.
- EBIT grew in line with revenues to €199.1 million, up 3.5% from 2017. Funds from operations increased slightly to €150.4 million.
- The consolidated profit decreased significantly to €79.4 million due to a negative valuation result of €58.3 million for investment properties.
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.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 9M 2018Deutsche EuroShop AG
- Retail turnover for German shopping centers on a like-for-like basis decreased 3.2% in the first 9 months of 2018 compared to the same period last year.
- Revenue for the company increased 3.8% to €167 million due to the acquisition of Olympia Center Brno and slight like-for-like sales growth.
- EBIT grew 4.4% to €146.5 million in line with revenue growth. Funds from operations increased 2.9% to €110.7 million despite a small decline in the FFO per share.
- 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.
Deutsche EuroShop | Conference Call Presentation - Quarterly Statement 3M 2016Deutsche EuroShop AG
This document provides a summary of Deutsche EuroShop's quarterly statement for the first three months (3M) of 2016. Retail turnover in Germany increased 0.4% on a like-for-like basis compared to 2015, while abroad it increased 2.2%. Revenue for Deutsche EuroShop was up 0.3% to €50.7 million. Net finance costs decreased 4.8% to €12.3 million. Earnings before taxes were down 1.1% to €30.977 million. The company expects revenue to increase between 0-2% for the full year 2016, with FFO per share forecasted to increase 4-7%. Deutsche EuroShop is currently evaluating an acquisition that would be
HeidelbergCement reported its 2015 full year results and 2016 outlook. Key points:
- 2015 was the best year since the financial crisis with EBITDA up 14% to €2.6 billion and group profit up 65% to €800 million.
- Net debt was reduced to €5.3 billion, significantly below the target of 2.5x leverage.
- The Italcementi acquisition remains on track with synergy potential increased to €400 million.
- Outlook for 2016 is for mid to high single digit organic growth in revenues, EBITDA, and operating income.
Deutsche EuroShop - Conference Call Presentation - Preliminary Results FY 2014Deutsche EuroShop AG
The document provides preliminary financial results for fiscal year 2014. Key points include:
- Retail turnover in Germany was down 0.7% overall on a like-for-like basis, with various retail sectors experiencing increases and decreases.
- The company's property portfolio valuation increased to €3.06 billion as of December 31, 2014 due to investments and appreciation.
- Key financial metrics like revenue, EBIT, EBT, profit, and NAV per share increased in 2014 compared to the previous year.
- The company continues to have a well-diversified tenant base and long lease contract maturities of over 6 years on average.
- The document is the quarterly statement for Deutsche EuroShop AG for the first quarter of 2017, reporting key financial figures and results of operations.
- Revenue remained stable at €50.7 million year-over-year. Net operating income fell slightly to €45.8 million and earnings before interest and taxes also declined slightly to €44.3 million.
- Consolidated profit rose 10.6% to €27.5 million compared to the prior year period, driven by lower interest expenses. Earnings per share increased 8.7% and EPRA earnings per share rose 9.1%.
This document summarizes HeidelbergCement's third quarter 2016 results. Key points include:
- Operating EBITDA increased 2% and operating income increased 4% compared to the prior year on a like-for-like basis.
- Integration of the Italcementi acquisition is progressing faster than planned, with synergies above €400 million already achieved.
- Volumes increased across all business lines (cement, aggregates, ready-mix concrete, asphalt) in all regions.
- Margin improvement programs like the "Competence Center RMC" aim to further boost margins over the next few years.
- The outlook for 2016 is confirmed despite some challenging market conditions.
H1 2017 financial results for Gruppo Hera showed:
- Revenues of €2.96 billion, up 10.9% from H1 2016.
- EBITDA of €505.9 million, up 7.6% from H1 2016.
- Net profit of €141 million, up 16.5% from H1 2016.
Key drivers of growth included positive market trends in waste management, M&A activity, tariff increases, and cost savings. The results demonstrated good visibility and progress towards full-year targets.
- Dürr reported strong order intake of €1.989 billion in the first half of 2016, up 10.8% compared to the first half of 2015, with a book-to-bill ratio of 1.2.
- Net profit increased 45.4% to €77.8 million in the first half due to higher gross margins and an improved financial result.
- Cash flow from operating activities was negative €84.6 million in the first half due to an increase in net working capital, particularly work in process balances.
This document provides an overview and results for HeidelbergCement for 2016. Key points include:
- Volumes increased across all business lines, with cement volumes up 3%, aggregates up 3%, and ready-mix up 1%. Operating EBITDA and income grew organically by 5% and 6% respectively.
- Results were mixed by region, with strong growth in North America offset by pressure in Southern Europe and weather impacts elsewhere. Integration of Italcementi assets is ongoing.
- An outlook for 2017 forecasts continued volume growth, with a focus on cost efficiency and improving profitability of recently acquired assets. Net debt is expected to remain below €9 billion.
Presentazione risultati primo semestre 2017Italiaonline
IL CDA APPROVA I RISULTATI DEL PRIMO SEMESTRE 2017:
PROSEGUE LA CRESCITA DELLA REDDITIVITA’ OPERATIVA E RALLENTA LA FLESSIONE DEI RICAVI GRAZIE AI PRIMI EFFETTI POSITIVI DERIVANTI DAL RINNOVAMENTO DEL PORTAFOGLIO PRODOTTI DIGITAL
UTILE NETTO + 65% SU BASE ANNUA A €6,3 MILIONI (€3,8 MILIONI NEL PRIMO SEMESTRE 2016)
POSIZIONE FINANZIARIA NETTA POSITIVA PARI A € 69 MILIONI, DOPO IL DIVIDENDO STRAORDINARIO DI € 80 MILIONI, UNLEVERED FCF A €37 MILIONI
This document provides a summary of preliminary results for the 2019 fiscal year. Retail turnover increased 0.2% on a like-for-like basis. Fashion, sports, and health/beauty sectors saw growth while department stores, hypermarkets, and services declined. EBIT declined slightly due to higher costs though the financial result improved due to interest savings and a one-time tax refund. Funds from operations (FFO) also declined slightly, though consolidated profit increased significantly due to the tax refund and release of deferred taxes. Key metrics like occupancy, rent levels, and maturity of rental contracts remained stable.
Similar to Preliminary Results FY 2016 / Acquisition Details Olympia Center Brno (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:
- Retail sales and footfall increased compared to 2022, surpassing 2019 levels. Revenue was up 28.1% and funds from operations increased 34.5% for the first nine months.
- 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.
- 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.
- 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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2. RETAILERS
FY2016 – Preliminary Results
28 March 2017
RETAIL TURNOVER 20161
1 German centers on a like-for-like basis
(turnover: €2.1 billion)
Retail sector
% change
in 2016
rent-to-sales
ratio in %
% of
sales
% of
space
Department stores -0.8 6.1 7.8 13.5
Food -1.5 7.5 9.2 6.5
Fashion textiles -0.9 12.2 29.7 38.9
Shoes & leather goods -1.9 14.7 5.7 7.0
Sports -2.9 9.3 4.1 4.8
Health & beauty -0.1 7.1 11.8 5.9
General retail -1.6 11.0 8.6 9.3
Electronics 0.8 4.2 13.5 8.1
Services -0.1 4.8 5.0 1.7
Food catering -0.1 13.2 4.6 4.3
Total -0.75 9.2 100.0 100.0
Retail turnover development on a like-for-like basis: Germany -0.75%, abroad +1.3%
DES-Portfolio overall: -0.5%
Absolute turnover development: Germany -0.1%, abroad +1.1%
DES-Portfolio overall: +0.0%
3. ACQUISITION OF SAARPARK-CENTER NEUNKIRCHEN
SHOPPING CENTERS
8 March 2017
FY2016 – Preliminary Results
Deutsche EuroShop acquired a 50% participation in the
Saarpark-Center SPV from BAT Custodian
Effective from 1 Oct. 2016
Total investment: approx. €113 million (50%)
Expected annualised rents effective from 2017:
€12.8 million (100%)
Expected NOI yield: 5.0%
At-equity consolidation of the SPV
3
4. TENANTS STRUCTURE TOP 10 TENANTS1
1 in % of total rents as at 31 Dec. 2016
2 excluding Kaufhof
3 perfumeries only
SHOPPING CENTERS
2016 2015
Metro Group2 4.7% 4.5%
H&M 3.6% 3.4%
New Yorker 2.4% 2.3%
Peek &
Cloppenburg
2.2% 2.1%
Deichmann 2.0% 1.8%
Douglas3 2.0% 2.1%
C&A 1.9% 1.5%
REWE 1.7% 1.6%
dm-drogerie markt 1.4% 1.2%
Thalia 1.3% 1.0%
Total 23.2% 21.5%
77%
23%
Other tenants
FY2016 – Preliminary Results
4
Low level of dependence
on the top 10 tenants
8 March 2017
5. MATURITY DISTRIBUTION OF RENTAL CONTRACTS1
1 as % of rental income as at
31 Dec. 2016
SHOPPING CENTERS
2022 et sqq:
72%
2021:
18%
2020:
4%
2019:
3%
2018:
2%
2017:
1%
FY2016 – Preliminary Results
5
Long-term contracts base rental income
Weighted maturity 5.7 years
8 March 2017
14. EARNINGS PER SHARE (EPRA)
1 The sum of the earnings per share
amounts may not equal the totals due
to rounding
2 The determination of EPRA earnings
was adjusted for the 2016 financial
year and the prior-year values restated
accordingly. The increase in the prior-
year value is the result of the adjusted
recognition of deferred taxes in the
calculation of this figure.
2.18 2.29
3.55
1.82
2015 2016
EPRA EPS/Operating result Valuation result
€
FINANCIALS
FY2016 – Preliminary Results
148 March 2017
in € thousand 2016 per share1 20152 per share1
Consolidated net profit 221,757 €4.11 309,282 €5.73
- IAS 40 valuation -116,774 €-2.16 -220,556 €-4.09
- At-equity valuation -28,711 €-0.55 -47,180 €-0.87
- Swaps -2,910 €-0,05 -2,231 €-0,04
+ Deferred taxes 49,220 €0.91 78,423 €1.45
+ Acquisition costs on Share deal 1,093 €0.02 0 €0.00
EPRA Earnings 123,675 €2.29 117,738 €2.18
Number of shares (adj.) 53,945,536 53,945,536
5.73
4.11
15. FUNDS FROM OPERATIONS (FFO)
1 The sum of the amounts may not equal
the totals due to rounding
2 2012 - 2016, Compound Annual
Growth Rate (CAGR)
FINANCIALS
€
1.68
2.08
2.23 2.29
2.41
2012 2013 2014 2015 2016
FY2016 – Preliminary Results
158 March 2017
+9.4%2
in € thousand 2016 per share1 2015 per share1
Consolidated net profit 221,757 €4.11 309,282 €5.73
- IAS 40 valuation -116,774 €-2.16 -220,556 €-4.09
- At-equity valuation -28,711 €-0.53 -47,180 €-0.87
+ Costs conversion privilege 967 €0.02 967 €0.02
+ Deferred taxes (with at-equity) 52,650 €0.97 80,851 €1.50
FFO 129,889 €2.41 123,364 €2.29
FFO without Saarpark-Center 128,815 €2.39
Number of shares (adj.) 53,945,536 53,945,536
16. BALANCE SHEET
1 incl. non controlling interests
FINANCIALSin € thousand 31.12.2016 31.12.2015 Change
Non-current assets 4,036,533 3,768,118 268,415
Current assets 77,924 83,496 -5,572
Total assets 4,114,457 3,851,614 262,843
Group equity 1,916,148 1,767,859 148,289
Right to redeem of limited
partners
324,559 293,113 31,446
Total equity 2,240,707 2,060,972 179,735
Financial liabilities 1,445,581 1,407,607 37,974
Deferred tax liabilities 359,365 309,528 49,837
Other liabilities 68,804 73,507 -4,703
Total equity and liabilities 4,114,457 3,851,614 262,843
31.12.2016 31.12.2015
Equity ratio1 54.5% 53.5%
LTV ratio 34.2% 35.5%
FY2016 – Preliminary Results
168 March 2017
17. 28.53
30.59
33.17
39.58
43.24
2012 2013 2014 2015 2016
NET ASSET VALUE (EPRA)
FINANCIALS
NUMBER OF SHARES
mn
NAV PER SHARE
€
53.95 53.95 53.95 53.95 53.95
2012 2013 2014 2015 2016
FY2016 – Preliminary Results
178 March 2017
in € thousand 2016 20151 Change2
total per share total per share
Equity 1,916,148 €35.52 1,767,859 €32.77 8.4%
Deferred taxes 365,927 €6.78 316,908 €5.87 15.5%
Fair value of Swaps 50,499 €0.94 50,452 €0.94 0.1%
NAV EPRA 2,332,574 €43.24 2,135,219 €39.58 9.2%
Number of shares 53,945,536 53,945,536
1 The determination of the EPRA NAV
was adjusted for the 2016 financial
year and the 2015 values restated
accordingly. The increase in the prior-
year value is the result of the adjusted
recognition of deferred taxes in the
calculation of this figure.
2 of total amount
18. LOAN STRUCTURE INCL. CONVERTIBLE BONDS1,2
1 as of 30 Dec. 2016
2 excl. at-equity consolidated loans
FINANCIALSInterest
lockin Duration
Principle amounts
(€ million)
Share of
total loan
avg.
interest rate
Up to 1 year 274.1 19.0% 1.26%
1 to 5 years 3.8 578.5 40.2% 4.34%
5 to 10 years 6.9 524.8 36.4% 3.14%
Over 10 years 11.0 63.0 4.4% 5.25%
Total 20161 5.1 1,440.4 100% 3.67%
4.16
3.88
3.76
3.69 3.67
0
2
4
6
8
3.50
4.00
4.50
2012 2013 2014 2015 2016
avg. interest rates weighted maturities
yrs%
21 German Banks
Weighted maturity
of fixed interest
periods 5.1 years1
FY2016 – Preliminary Results
188 March 2017
1
19. in € million
End of fixed interest
periods respectively
expiring loans
Avg. interest
rate
DES‘
share
2017-2019 0
2020 35.0 4.00% 50%
2021 63.3 4.59% 50%
2022 0
MATURITIES UNTIL 20221,2
1 as of 31 Dec. 2016
2 excl. at-equity consolidated loans
in € million
end of fixed interest
periods respectively
expiring loans
avg. interest
rate
regular
redemption
payments
total
maturities
2017 98.7 1.75% 16.5 115.2
2018 72.1 4.60% 17.8 89.9
2019 123.1 4.73% 14.7 137.8
2020 134.1 4.52% 10.1 144.2
2021 198.3 4.48% 8.2 206.5
2022 217.8 3.26% 7.8 225.7
844.1
FINANCIALS
FY2016 – Preliminary Results
198 March 2017
At-equity consolidated loans1
Phoenix-Center, Hamburg,
Saarpark-Center, Neunkirchen
Saarpark-Center, Neunkirchen
Convertible Bond
20. OUTLOOK COMPANY
FY2016 – Preliminary Results
208 March 2017
Acquisition and integration of Olympia Brno
Refinancings of approx. €200 million in the coming weeks
Increase in dividend to €1.40 per share – for all shares
Save the date:
Deutsche EuroShop Real Estate Summer in Brno on 5th & 6th September 2017
22. CENTER DETAILS
SHOPPING CENTERS
8 March 2017
FY2016 – Preliminary Results
22
Investment: 100%
Lettable space: 85,000 sqm
Number of shops: approx. 200
Occupancy: 98.5%
Parking: approx. 4,000
Catchment area: approx. 1.2 m. inhabitants
Opening/refurbishment: 1999/2014-2016
Anchor tenants: H&M, Intersport, P&C Dusseldorf,
Albert Hypermarket, Cinema City,
Asko, C&A
Website: www.olympia-centrum.cz/en
23. FACTS & FIGURES
SHOPPING CENTERS
8 March 2017
FY2016 – Preliminary Results
23
* Czech average = 100
** Czech average = 4.6%
Operational KPIs
Productivity: €2,550 per sqm
Average shop rent: €19.25 per sqm & mth
Visitors 2015: 8.00 million
Rent-to-sales ratio: 10.1%
Occupancy rate: 98.5%
Weighted average lease term: 5.8 yrs
Brno
Capital of Southern Moravia region
Population: City approx. 380,000
Metropolitan approx. 600,000
Regional approx. 1.2 million
Purchasing power index*: 109.2
Unemployment rate**: 4.2%
Website: www.brno.cz
24. MAP OF THE PORTFOLIO
SHOPPING CENTERS
Germany
17 centers
Austria
1 center
Poland
1 center
Hungary
1 center
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FY2016 – Preliminary Results
24
Czech Republic
1 center*
* upon closing of transaction
25. Source: GfK Geomarketing
DES’ 1ST CENTER IN CZECH REPUBLIC, 21ST OVERALL
SHOPPING CENTERS
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FY2016 – Preliminary Results
25
26. LOCATION
SHOPPING CENTERS
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FY2016 – Preliminary Results
26
Strategically well placed
Excellent visibility
Very good infrastructure
4,000 parkings
Central and convenient location
Bus stops in front of the center
34. FINANCIAL DETAILS
FINANCIALS
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FY2016 – Preliminary Results
34
Deutsche EuroShop acquires 100% of the shares in Olympia SPV
from Rockspring and ECE European Prime Shopping Centre Fund I (50% each)
Expected closing in H1 2017
Total investment: approx. €382 million,
net purchase price excl. debt of SPV and excl. acquisition costs: approx. €207 million
financing by long term debt (approx. €217 million, 57%) and
proceeds of capital increase (approx. €165 million, 43%)
Expected annualised rents 2017: €20.1 million
Expected NOI yield: 5.1%, expected net initial yield: 5.0%
The SPV will be fully consolidated
Guidance for 2017 will be adjusted after the closing of the transaction,
presumably with the publication of the annual report 2016
35. FINANCIAL CALENDAR
APPENDIX
2017
FY2016 – Preliminary Results
358 March 2017
23.03. HSBC RE Conference, Frankfurt
25.03. Stock Exchange Day, Munich
28.03. Roadshow London, Metzler
30.03. Roadshow Amsterdam, Commerzbank
03.04. Roadshow Munich, Baader Bank
03.04. Roadshow Zurich, Berenberg
28.04. Publication of the Annual Report 2016
11.05. Quarterly Statement 3M 2017
16.05. Roadshow Helsinki, M.M. Warburg
19.05. equinet ESN Conference, Frankfurt
19.05. Warburg Highlights, Hamburg
01.06. Kepler Cheuvreux German Property Day, Paris
07.06. Kempen & Co European Property Seminar, Amsterdam
15.06. Roadshow London, Green Street Advisors
15.06. Roadshow Warsaw, Berenberg
16.06. Roadshow Edinburgh, JP Morgan Cazenove
22.06. Deutsche Bank dbAccess Conference, Berlin
28.06. Annual General Meeting, Hamburg
15.08. Half-year Financial Report 2016
05.-06.09. DES Real Estate Summer
12.-13.09. BoA Merrill Lynch Global RE Conf., New York
18.09. Goldman Sachs & Berenberg German Conf., Munich
19.09. Baader Investment Conf., Munich
29.09. Societe Generale Pan European RE Conf., London
04.-06.10. Expo Real, Munich
15.11. Quarterly Statement 9M 2017
16.11. Natixis European Mid Caps Conf., Paris
17.11. Roadshow Amsterdam, Societe Generale
17.11. Roadshow Brussels, Kempen & Co
21.11. DZ Bank Equity Conf., Frankfurt
06.-07.12. Berenberg European Conf., Pennyhill
11.-12.12. HSBC Global RE Conf., Cape Town
36. CONTACT
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.
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36