DGAP-News: Deutsche EuroShop AG / Key word(s): Half Year Results/Interim Report Deutsche EuroShop posts continued earnings growth in 1st half of 2013 14.08.2013 / 18:06 --------------------------------------------------------------------- Deutsche EuroShop posts continued earnings growth in 1st half of 2013 - Revenue: EUR88.8 million (+14%), EBIT: EUR77.2 million (+15%) - EBT before measurement: EUR54.6 million (+11%) - Earnings per share: EUR0.77 (+23%) - FFO: EUR1.02 per share (+15%) Hamburg, 14 August 2013 - The shopping center investor Deutsche EuroShop recorded net operating income (NOI) of EUR80.2 million (+16%) in the first half of 2013, on revenues of EUR88.8 million (+14% year on year). EBIT climbed by 15% to EUR77.2 million. 'There are two main reasons behind these increases: firstly, since the beginning of the year the Herold-Center in Norderstedt has contributed to results for the first time. Secondly, we increased our shareholding in the Altmarkt-Galerie in Dresden to 100% at the end of April,' explains CEO Claus-Matthias Böge. Earnings before taxes and measurement (EBT before measurement) increased from EUR49.0 million to EUR54.6 million (+11%). Consolidated profit improved by 28%, from EUR32.6 million to EUR41.8 million. Accordingly, earnings per share also increased, from EUR0.63 to EUR0.77. EPRA earnings per share, i.e. the result adjusted for valuation effects, rose from EUR0.65 to EUR0.83 per share, which corresponds to an increase of 28%. FFO (funds from operations) improved by 15%, from EUR0.89 to EUR1.02 per share. On the subject of ongoing portfolio optimisation, Böge says: 'We have sold our 33.3% stake in Galeria Dominikanska in Wroclaw, Poland, and expect the transaction to be closed in the coming weeks.' The Deutsche EuroShop management team is sticking to its guidance for financial year 2013 and is confident of being able to pay a dividend of at least EUR1.20 per share for the current year. Full interim report The full interim report is available as a PDF document and in ePaper format. It can be downloaded from www.deutsche-euroshop.de/ir Internet broadcast of the teleconference On Thursday 15 August 2013 at 10 a.m. (CET), Deutsche EuroShop will broadcast its English teleconference as a live webcast on the Internet at 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 20 shopping centers in Germany, Austria, Poland 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. Figures for Deutsche EuroShop (IFRS) 01.01.-30.06. 01.01.-30.06. in EUR millions 2013 2012 + / - Revenue 88.8 77.8 14% EBIT 77.2 67.0 15% Net finance costs -22.6 -18.2 -24% Measurement gains/losses -2.5 -1.6 -50% EBT 52.2 47.2 11% Consolidated profit 41.8 32.6 28% FFO per share in EUR 1.02 0.89 15% EPRA* earnings per share in EUR 0.83 0.65 28% (undiluted) 30.06.2013 31.12.2012 + / - Equity** 1,509.7 1,528.4 -1% Liabilities 1,833.2 1,630.9 12% Total assets 3,343.0 3,159.3 6% Equity ratio (%)** 45.2 48.4 LTV ratio (%) 46 40 Gearing (%)** 121 107 Cash and cash equivalents 85.5 158.2 -46% * European Public Real Estate Association ** Incl. third-party interests in equity End of Corporate News --------------------------------------------------------------------- 14.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group 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 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: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 225907 14.08.2013