DGAP-News: Deutsche EuroShop AG / Key word(s): Half Year Results/Quarter Results Deutsche EuroShop: First-half results in line with forecast 14.08.2018 / 18:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Deutsche EuroShop: First-half results in line with forecast * Significant growth in revenue and income due to portfolio expansion in Czech Republic * Stable portfolio business in competitive retail environment * "At-your-Service" and "Mall Beautification" programmes launched * Funds from operations (FFO) up 6.5 % * Further increase in dividend expected Hamburg, 14 August 2018 - The shopping center investor Deutsche EuroShop recorded net operating income (NOI) of EUR100.5 million in the first half of 2018, almost matching the rise in revenues of 5.5 % year on year to EUR111.6 million. EBIT climbed by 6.0 % to EUR98.0 million. This growth was attributable in the main to the Olympia Center in Brno, which has been included in the consolidated figures since 31 March 2017. The existing portfolio also made a positive contribution to growth, with revenue up by 0.4 % (lfl). Earnings before taxes and excluding measurement gains/losses increased from EUR73.0 million to EUR78.9 million (+8.0 %). By contrast, consolidated profit fell -1.7 % to EUR55.3 million due to measurement losses. "With our 'At-your-Service' and 'Mall Beautification' programmes, we are investing in the further modernisation and future of our existing centers," comments CEO Wilhelm Wellner, explaining the impact of measurement gains/losses: "In addition, the fact that we decided not to proceed with the expansion concept for our shopping center in Gdansk to the extent originally planned on account of the current project and approval status meant we had corresponding one-off write-downs on part of the preliminary costs." Business continued to be stable in terms of operations. EPRA earnings improved significantly from EUR68.0 million to EUR73.6 million owing to the portfolio expansion (+8.2%). At the same time, funds from operations (FFO) rose from EUR70.9 million to EUR75.5 million, which corresponds to growth of 6.5 %. The Deutsche EuroShop management team is sticking to its forecast for financial year 2018 and aims to pay a dividend of EUR1.50 per share for the financial year. The expectation is that the dividend will increase by a further EUR0.05 for 2019. Full quarterly statement The full half-year financial report is available as a PDF document and in ePaper format. It can be downloaded from www.deutsche-euroshop.com/ir Webcast of the teleconference Deutsche EuroShop will hold a conference call for analysts in English at 10:00 a.m. (CET) on Wednesday, 15 August 2018, which will be carried out as a live webcast on www.deutsche-euroshop.com/ir Deutsche EuroShop - The shopping center company Deutsche EuroShop is the only public company in Germany to invest solely in shopping centers in prime locations. The MDAX-listed company currently has investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many others. Key Group figures in EUR million 01.01.-30.- 01.01.-30.- +/- 06.2018 06.2017 Revenue 111.6 105.8 5.5 % Net operating income (NOI) 100.5 95.3 5.4 % EBIT 98.0 92.5 6.0 % EBT (excluding measurement gains / losses) 78.9 73.0 8.0 % EPRA Earnings 73.6 68.0 8.2 % FFO 75.5 70.9 6.5 % Consolidated profit 55.3 56.2 -1.7 % per share in EUR 01.01.-30.- 01.01.-30.- +/- 06.2018 06.2017 EPRA earnings per share 1.19 1.20 -0.8 % FFO per share 1.22 1.25 -2.4 % Earnings per share 0.89 0.99 -10.- 1 % Weighted number of no-par-value shares 61,783,594 56,754,256 +8.9 issued % in EUR million 30.06.2018 31.12.2017 +/- Equity 2,540.8 2,574.9 -1.3 % Liabilities 2,139.2 2,052.1 4.2 % Total assets 4,680.0 4,627.0 1.1 % Equity ratio in % 54.3 55.6 LTV ratio in %* 30.8 32.4 Cash and cash equivalents 168.3 106.6 57.9 % For explanations regarding the financial figures used, please consult [1]www.deutsche-euroshop.de/des/pages/inde x/p/210 * The LTV ratio stands at 32.8% after the deduction of the dividend paid out on 3 July 2018 1. https://www.deutsche-euroshop.de/des/pages /index/p/210 --------------------------------------------------------------------------- 14.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Deutsche EuroShop AG Heegbarg 36 22391 Hamburg Germany Phone: +49 (0)40 413 579-0 Fax: +49 (0)40 413 579-29 E-mail: [email protected] Internet: www.deutsche-euroshop.de ISIN: DE0007480204, DE000A1R0W05 WKN: 748020 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 714275 14.08.2018