DGAP-News: Deutsche EuroShop: Half-year results for 2019 stable and on track
DGAP-News: Deutsche EuroShop AG / Key word(s): Half Year Results/Interim Report
Deutsche EuroShop: Half-year results for 2019 stable and on track
15.08.2019 / 18:15
The issuer is solely responsible for the content of this announcement.
Deutsche EuroShop: Half-year results for 2019 stable and on track
- Revenue: EUR111.9 million (+0.3%)
- EBIT: EUR98.2 million (+0.2%)
- Consolidated profit: EUR66.2 million (+19.8%)
- EPRA earnings per share: EUR1.37 per share (+15.1%)
- FFO: EUR75.0 million (-0.7%)
Hamburg, 15 August 2019 - Shopping center investor Deutsche EuroShop can look back on a stable first half of its 2019 financial year. Revenue was up slightly by 0.3% to EUR111.9 million on the prior-year period, net operating income (NOI) was nearly unchanged at EUR100.4 million, and earnings before interest and taxes (EBIT) improved by 0.2% to EUR98.2 million.
Including the positive non-recurring effects from tax refunds for previous years of the first quarter of 2019, which the management of Deutsche EuroShop expects in connection with a current ruling by the Grand Senate of the Federal Finance Court (BFH), earnings before taxes (EBT) excluding valuation rose by 3.8% to EUR81.9 million in the first half of the year (excluding non-recurring effects +0.4%). For this reason, consolidated profit also increased significantly by 19.8% to EUR66.2 million (excluding non-recurring effects +2.2%); EPRA earnings rose by 14.5% to EUR 84.3 million (excluding non-recurring effects +1.3%). Funds from operations (FFO) adjusted for valuation and non-recurring effects were slightly lower than the first half of the previous year at EUR75.0 million (-0.7%) due to higher tax payments. This represents FFO per share of EUR1.21.
The Deutsche EuroShop management team is sticking to its guidance for financial year 2019 and aims to pay a dividend of EUR1.55 per share for the financial year. The expectation is that the dividend will increase by a further EUR0.05 for 2020.
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.com/ir
Webcast of the teleconference
Deutsche EuroShop will hold a conference call for analysts in English at 10:00 a.m. (CEST) on Friday, 16 August 2019, 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 consolidated figures
in EUR million |
|
01.01.-30.06.2019 |
|
01.01.-30.06.2018 |
|
+/- |
Revenue |
|
111.9 |
|
111.6 |
|
0.3% |
Net operating income (NOI) |
|
100.4 |
|
100.5 |
|
-0.1% |
EBIT |
|
98.2 |
|
98.0 |
|
0.2% |
EBT (excluding valuation1) |
|
81.9 |
|
78.9 |
|
3.8% |
EPRA2 earnings5 |
|
84.3 |
|
73.6 |
|
14.5% |
FFO |
|
75.0 |
|
75.5 |
|
-0.7% |
Consolidated profit |
|
66.2 |
|
55.3 |
|
19.8% |
|
|
|
|
|
|
|
in EUR |
|
01.01.-30.06.2019 |
|
01.01.-30.06.2018 |
|
+/- |
EPRA2 earnings per share5 |
|
1.37 |
|
1.19 |
|
15.1% |
FFO per share |
|
1.21 |
|
1.22 |
|
-0.8% |
Earnings per share |
|
1.07 |
|
0.89 |
|
20.2% |
Weighted number of no-par-value shares issued |
|
61,783,594 |
|
61,783,594 |
|
0.0% |
|
|
|
|
|
|
|
in EUR million |
|
30.06.2019 |
|
31.12.2018 |
|
+/- |
Equity3 |
|
2,545.6 |
|
2,573.4 |
|
-1.1% |
Liabilities |
|
2,046.7 |
|
2,036.8 |
|
0.5% |
Total assets |
|
4,592.3 |
|
4,610.2 |
|
-0.4% |
Equity ratio in %3 |
|
55.4 |
|
55.8 |
|
|
LTV ratio in %4 |
|
32.3 |
|
31.8 |
|
|
Cash and cash equivalents |
|
88.0 |
|
116.3 |
|
-24.4% |
|
|
|
|
|
|
|
1 Including the share attributable to equity-accounted joint ventures and associates |
2 European Public Real Estate Association |
|
|
|
|
|
|
3 Incl. third-party interests in equity |
|
|
|
|
|
|
4 Loan-to-value ratio (LTV ratio): ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to non-current assets (investment properties and investments accounted for using the equity method) 5 EPRA earnings include a one-off tax refund in the period under review, including interest accrued for previous years. Without this tax refund, EPRA earnings would total EUR74.5 million (+1.3%) or EUR1.21 per share. |
15.08.2019 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 |
WKN: |
748020 |
Indices: |
MDAX |
Listed: |
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: |
858449 |
|
End of News |
DGAP News Service |
858449 15.08.2019
Die wichtigsten Finanzdaten auf einen Blick
|
|
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023e |
Umsatzerlöse1 |
218,49 |
225,05 |
225,94 |
224,10 |
211,75 |
212,81 |
0,00 |
EBITDA1,2 |
192,42 |
199,19 |
197,64 |
190,46 |
152,67 |
160,56 |
0,00 |
EBITDA-Marge3 |
88,07 |
88,51 |
87,47 |
84,99 |
72,10 |
75,45 |
|
EBIT1,4 |
192,37 |
199,14 |
197,47 |
161,24 |
152,50 |
152,43 |
0,00 |
EBIT-Marge5 |
88,05 |
88,49 |
87,40 |
71,95 |
72,02 |
71,63 |
0,00 |
Jahresüberschuss1 |
134,33 |
79,40 |
112,09 |
-251,72 |
59,95 |
21,36 |
0,00 |
Netto-Marge6 |
61,48 |
35,28 |
49,61 |
-112,32 |
28,31 |
10,04 |
0,00 |
Cashflow1,7 |
156,02 |
159,20 |
170,21 |
111,09 |
172,67 |
140,63 |
0,00 |
Ergebnis je Aktie8 |
2,31 |
1,29 |
1,81 |
-4,07 |
0,97 |
0,35 |
1,35 |
Dividende8 |
1,45 |
1,50 |
0,00 |
0,04 |
1,00 |
2,50 |
1,40 |
Quelle: boersengefluester.de und Firmenangaben
Geschäftsbericht 2022 - 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 |
18,940 |
Kaufen |
1.448,23 |
KGV 2025e |
KGV 10Y-Ø |
BGFL-Ratio |
Shiller-KGV |
10,41 |
13,67 |
0,76 |
11,12 |
KBV |
KCV |
KUV |
EV/EBITDA |
0,71 |
10,30 |
6,81 |
16,67 |
Dividende '22 in € |
Dividende '23e in € |
Div.-Rendite '23e in % |
Hauptversammlung |
2,50 |
1,65 |
8,71 |
25.06.2024 |
Q1-Zahlen |
Q2-Zahlen |
Q3-Zahlen |
Bilanz-PK |
14.05.2024 |
14.08.2024 |
14.11.2023 |
26.04.2024 |
Abstand 60Tage-Linie |
Abstand 200Tage-Linie |
Performance YtD |
Performance 52 Wochen |
0,22% |
-4,76% |
-16,01% |
-3,17% |
|
|