DGAP-News: Deutsche EuroShop AG / Key word(s): Quarter Results/Change
in Forecast
Deutsche EuroShop: Strong first quarter, guidance raised by 4%
15.05.2012 / 07:30
---------------------------------------------------------------------
Deutsche EuroShop: Strong first quarter, guidance raised by 4%
- Revenue: EUR51.9 million (+17%), EBIT: EUR45.9 million (+19%)
- EBT excluding measurement gains/losses: EUR24.5 million (+26%)
- Earnings per share: EUR0.32 (+24%)
- FFO: EUR0.45 per share (+25%)
Hamburg, 15 May 2012 - The shopping center investor Deutsche EuroShop has
published its interim report for the first quarter of 2012 and increased
its EBT and FFO guidance for the full year.
In the first three months revenue was EUR51.9 million, 17% higher than in
the first quarter of 2011. Net operating income climbed 16% to EUR46.6
million, while EBIT was up 19% to EUR45.9 million.
The strong increases were driven mainly by the three major center
expansions completed last year at the Altmarkt-Galerie in Dresden, the A10
Center and the Main-Taunus-Zentrum. Another key driver was the addition of
the Allee-Center Magdeburg to the portfolio.
Consolidated profit grew by 24% to EUR16.5 million. Earnings per share
consequently rose from EUR0.26 to EUR0.32. EPRA earnings per share, i.e.
earnings adjusted for measurement gains/losses, went up from EUR0.27 to
EUR0.34 per share, an increase of 26%. FFO (funds from operations) improved
by 25% from EUR0.36 to EUR0.45 per share.
Deutsche EuroShop has increased its guidance for financial year 2012 and
now expects
- revenue of between EUR207 million and EUR211 million
- earnings before interest and taxes (EBIT) of between EUR177 million and
EUR181 million
- earnings before tax (EBT) excluding measurement gains/losses of between
EUR94 million and EUR97 million (previously: between EUR90 and EUR93
million)
- FFO per share between EUR1.70 and EUR1.74 (previously: between EUR1.64
and EUR1.68)
'Our debt finance terms are much more favourable than we had expected a few
months ago,' says Claus-Matthias Böge, Chief Executive Officer of Deutsche
EuroShop, explaining the increase in EBT and FFO guidance.
The company expects to pay a dividend of EUR1.10 per share once again in
2012.
Deutsche EuroShop - The Shopping Center Company
Deutsche EuroShop is Germany's only public company, that invests solely in
shopping centers in prime locations. The MDAX-listed Company currently has
equity interests in 19 European shopping centers in Germany, Austria,
Hungary and Poland. The portfolio includes the Main-Taunus-Zentrum near
Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in
Gdansk, among many others.
Full interim report
The full interim report is available as a PDF document and in ePaper
format. It can be downloaded from http://www.deutsche-euroshop.com/ir
Key Data of Deutsche EuroShop (IFRS)
|[![CDATA[|[pre|]]]|]
in EUR million 01.01.-31.03.2012 01.01.-31.03.2011 + / -
Revenue 51.9 44.4 17 %
EBIT 45.9 38.6 19 %
Net finance costs -21.4 -19.1 -12 %
Measurement gains/losses -0.9 -0.3
EBT 23.6 19.2 23 %
Consolidated profit 16.5 13.4 24 %
FFO per share (EUR) 0.45 0.36 25 %
EPRA* Earnings per share
(EUR) 0.34 0.27 26 %
31.03.2012 31.12.2011 + / -
Equity** 1,477.1 1,473.1 0 %
Liabilities 1,751.6 1,752.0 0 %
Total assets 3,228.7 3,225.1 0 %
Equity ratio (%)** 45.7 45.7
LTV-ratio (%) 47 47
Gearing (%)** 119 119
Cash and cash equivalents 78.1 64.4 21 %
|[![CDATA[|[/pre|]]]|]
* European Public Real Estate Association
** incl. non controlling interests
End of Corporate News
---------------------------------------------------------------------
15.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Deutsche EuroShop AG
Oderfelder StraÃe 23
20149 Hamburg
Germany
Phone: +49 (0)40 413 579-0
Fax: +49 (0)40 413 579-29
E-mail: ir@deutsche-euroshop.de
Internet: www.deutsche-euroshop.de
ISIN: DE0007480204
WKN: 748020
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
169777 15.05.2012
DGAP-News: Deutsche EuroShop: Strong first quarter, guidance raised by 4%
| Source: EQS Group AG