02.08.2022 Deutsche EuroShop AG  DE0007480204

DGAP-News: Deutsche EuroShop: Financing extended for 2022, interest savings secured


 

DGAP-News: Deutsche EuroShop AG / Key word(s): Financing
Deutsche EuroShop: Financing extended for 2022, interest savings secured

02.08.2022 / 08:00
The issuer is solely responsible for the content of this announcement.


Deutsche EuroShop: Financing extended for 2022, interest savings secured

Hamburg, 2 August 2022 – The shopping center investor Deutsche EuroShop AG has concluded its upcoming refinancing for 2022. This includes a Group-level loan of €52 million as well as financing for the Altmarkt-Galerie Dresden (€107 million) and the City-Point Kassel (€55 million). A credit tranche of €10 million for the Allee-Center Hamm will be repaid at the end of September. The signed contracts mean that, in the future, the company will profit from interest savings of approximately €0.5 million each year.

The interest expenses for 2022 will be approximately €3.2 million less than in the previous year. This is essentially the result of refinancing undertaken in 2021 and 2022 totalling around €400 million.

The Group does not face any further loan maturities this year. For the only refinancing due in 2023, €209 million for the Main-Taunus-Zentrum, the company has already agreed on a term sheet with a banking consortium. The interest rate for the current loan is 2.99%. After this, there is no further refinancing due until September 2025.

Back in March of this year, Deutsche Euroshop arranged long-term refinancing of a €107.4 million loan. A consortium of six savings banks led by the Ostsächsischen Sparkasse Dresden is providing the financing for the Altmarkt-Galerie Dresden until 2032. Olaf Borkers, Member of the Executive Board of Deutsche EuroShop, explains: “Savings banks are the local experts. They know our centers and most local tenants. This regional expertise is helpful because our real estate ultimately competes in the search for attractive financing conditions, often also with properties in world cities such as London, Paris or Amsterdam.”

“The latest interest rate increases come as no surprise to us, although we did not expect them quite to this extent,” continues Olaf Borkers. “For 2022, we are anticipating interest costs of around €37 million in the Group. This is comparable with our interest costs in 2006, which were around €39 million. However, our sales in 2006 were only around €93 million, whereas for 2022 we are anticipating revenue of over €200 million. Our financing situation has eased.”


Deutsche EuroShop – The Shopping Center Company

Deutsche EuroShop AG is the only public company in Germany to invest solely in shopping centers in prime locations. The SDAX-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 Danzig, among others.



02.08.2022 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.

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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
WKN: 748020
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1410735

 
End of News DGAP News Service

1410735  02.08.2022 

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Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 204,14 218,49 225,05 225,94 224,10 211,75 0,00
EBITDA1,2 178,70 192,42 199,19 197,64 190,46 152,67 0,00
EBITDA-Marge3 87,54 88,07 88,51 87,47 84,99 72,10 0,00
EBIT1,4 178,63 192,37 199,14 197,47 161,24 152,50 0,00
EBIT-Marge5 87,50 88,05 88,49 87,40 71,95 72,02 0,00
Jahresüberschuss1 221,76 134,33 79,40 112,09 -251,72 59,95 0,00
Netto-Marge6 108,63 61,48 35,28 49,61 -112,32 28,31 0,00
Cashflow1,7 140,96 156,02 159,20 170,21 111,09 172,67 0,00
Ergebnis je Aktie8 4,11 2,31 1,29 1,81 -4,07 0,97 1,42
Dividende8 1,40 1,45 1,50 0,00 0,04 1,00 1,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2021 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

INVESTOR-INFORMATIONEN
©boersengefluester.de
Deutsche EuroShop
WKN Kurs in € Einschätzung Börsenwert in Mio. €
748020 21,940 Halten 1.355,53
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,71 13,09 1,02 11,18
KBV KCV KUV EV/EBITDA
0,68 7,85 6,40 18,63
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
1,00 1,20 4,56 30.08.2022
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
12.05.2022 11.08.2022 10.11.2022 26.04.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-2,40% 6,21% 49,86% 53,53%
    
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Immobilien (Gewerbe) , 748020 , DEQ , XETR:DEQ