DGAP-News: Deutsche EuroShop: Successful Upbeat, Q1 With Strong Growth
(firmenpresse) - DGAP-News: Deutsche EuroShop AG / Key word(s): Quarter Results/Interim
Report
Deutsche EuroShop: Successful Upbeat, Q1 With Strong Growth
13.05.2011 / 07:30
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Deutsche EuroShop: Successful Upbeat, Q1 With Strong Growth
- Revenue: EUR 44.4 million (+28%), EBIT: EUR 38.6 million (+28%)
- EBT before valuation: EUR 19.5 million (+27%)
- EPS: EUR 0.31 (+11%)
- FFO: EUR 0.38 per share (+12%)
Hamburg, 13 May 2011 - Today the shopping center investor Deutsche EuroShop
has published its interim report for the first quarter 2011 and has
confirmed the previously on 29 April announced forecasts with good results.
Revenue in the first three months of 2011 totalled EUR 44.4 million,
representing a 28% rise year-on-year (from EUR 34.6 million). Net operating
income (NOI) improved by 30% to EUR 40.1 million, while EBIT also climbed
28% to EUR 38.6 million.
'A significant contribution to these increases was made by the recently
acquired Billstedt-Center Hamburg and the A10 Center in Wildau near
Berlin', Deutsche EuroShop's CEO Claus-Matthias Böge explains. 'The
increased shareholding in Altmarkt-Galerie Dresden also played a part in
this growth, as did the full consolidation of the Phoenix-Center Hamburg
and the Main-Taunus-Zentrum in Sulzbach.'
Earnings before taxes and measurement rose from EUR 15.4 million to EUR
19.5 million (+27%). Consolidated profit was up 25% from EUR 12.8 million
to EUR 16.0 million. Net earnings per share correspondingly increased from
EUR 0.28 to EUR 0.31. The ratio FFO (funds from operations) improved by 12%
from EUR 0.34 to EUR 0.38 per share.
'As far as new investments are concerned, we are currently examining
various offers both in Germany and abroad. At present, we would be able to
invest around EUR300 million in shopping centers in the short term',
Claus-Matthias Böge says confidently.
Deutsche EuroShop stands by its recently published forecasts for the 2011
financial year and expects:
- revenue of between EUR 184 million and EUR 188 million
- earnings before interest and taxes (EBIT) of between EUR 157 million
and EUR 161 million
- earnings before taxes (EBT) before valuation of between EUR 75 million
and EUR 78 million
- funds from operations (FFO) per share of between EUR 1.48 and EUR 1.52
The Company intends to distribute a dividend of EUR 1.10 per share again
for the financial year 2011.
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 18 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.
Complete Interim Report
The complete Interim Report is available as PDF file and as interactive
online version at http://www.deutsche-euroshop.com/ir
Key Data of Deutsche EuroShop (IFRS)
EUR million 01.01.-31.03.2011 01.01.-31.03.2010 + / -* incl. non controlling interests
Revenue 44.4 34.6 28 %
EBIT 38.6 30.1 28 %
Net finance costs -19.1 -14.7 -30 %
EBT before valuation19.5 15.4 27 %
Measurement gains/losses -0.4 0.0
EBT 19.1 15.4 24 %
Consolidated profit 16.0 12.8 25 %
FFO per share (EUR) 0.38 0.34 12 %
EPS (EUR) 0.31 0.28 11 %
EUR million 31.03.2011 31.12.2010
Equity* 1,545.4 1,527.4 1 %
Liabilities 1,447.8 1,436.1 1 %
Total assets 2,993.0 2,963.6 1 %
Equity ratio (%)* 51.6 51.5
LTV-ratio (%) 45 45
Gearing (%)* 107 106
Cash and cash equivalents 78.1 65.8 19 %
End of Corporate News
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13.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Deutsche EuroShop AG
Oderfelder Straße 23
20149 Hamburg
Deutschland
Phone: +49 (0)40 413 579-0
Fax: +49 (0)40 413 579-29
E-mail: ir(at)deutsche-euroshop.de
Internet: www.deutsche-euroshop.de
ISIN: DE0007480204
WKN: 748020
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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124473 13.05.2011Unternehmensinformation / Kurzprofil:
Datum: 13.05.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 34088
Anzahl Zeichen: 0
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Kategorie:
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