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Deutsche EuroShop: successful 2012 financial year and continued growth
Deutsche EuroShop AG / Key word(s): Final Results/Dividend
26.04.2013 / 14:00
Deutsche EuroShop: successful 2012 financial year and continued growth
- Final results for 2012 financial year released
- Dividend proposal: Increase to EUR1.20 per share
- Acquisition of remaining shares (33%) in Altmarkt-Galerie Dresden
Hamburg, 26 April 2013 - Shopping center investor Deutsche EuroShop AG, Hamburg, released its 2012 financial report today. Prepared under the motto 'Hamburg3', the annual report is now available for download at www.deutsche-euroshop.com/ir
Figures for Deutsche EuroShop (IFRS)
| in EUR millions | 2012 | 2011 | +/- |
| Revenue | 211.2 | 190.0 | +11% |
| EBIT | 181.0 | 165.7 | +9% |
| Net finance costs | -86.0 | -79.1 | -9% |
| Measurement gains/losses | 8.5 | 50.1 | -83% |
| EBT | 103.5 | 136.7 | -24% |
| Consolidated profit | 122.5 | 99.0 | +24% |
| FFO per share in EUR | 1.66 | 1.61 | +3% |
| EPRA* earnings per share in EUR | 1.35 | 1.19 | +13% |
| Equity** | 1,606.1 | 1,473.1 | +9% |
| Liabilities | 1,942.8 | 1,752.0 | +11% |
| Total assets | 3,548.9 | 3,225.1 | +10% |
| Equity ratio (%)** | 45.3 | 45.7 | |
| LTV ratio (%) | 44 | 45 | |
| Gearing (%)** | 121 | 119 | |
| Cash and cash equivalents | 167.5 | 64.4 | +160% |
| Net asset value (EPRA*) | 1,538.9 | 1,427.3 | +8% |
| Net asset value per share in EUR (EPRA*) | 28.53 | 27.64 | +3% |
| Number of shares at year-end | 53,945,536 | 51,631,400 | +4% |
| Weighted average number of shares | 51,934,893 | 51,631,400 | +1% |
| Dividend per share in EUR | 1.20*** | 1.10 | +9% |
* European Public Real Estate Association
** incl. third-party interests in equity
*** proposal to the AGM
Dividend increase
Based on these results, a proposal will be submitted to the Annual General Meeting on 20 June 2013 in Hamburg for the distribution of a dividend in the amount of EUR1.20, which represents an increase of EUR0.10 or 9% over the previous year. For the first time, an amount of EUR0.31 per share of the dividend will be subject to the deduction of capital gains tax.
Altmarkt-Galerie Dresden: 100%
As of 1 May 2013, Deutsche EuroShop will acquire a stake of 33% in the Altmarkt-Galerie in Dresden from TLG Immobilien and thus gain sole ownership of the shopping center. The investment volume is EUR132 million, while the net initial yield is at about 5.4%.
'The Altmarkt-Galerie is one of our flagship centers and we have been pleased with it from the very beginning,' said Claus-Matthias Böge, Executive Board Spokesman for Deutsche EuroShop. 'Boasting more than 200 shops on some 44,000 m² of retail space, the Altmarkt-Galerie provides jobs for around 2,000 people and draws in excess of 16 million visitors a year.'
Financial report publication dates in 2013
Deutsche EuroShop will publish its financial reports for the current financial year after the close of trading on the following dates:
- Interim report Q1: 15 May 2013
- Half-year financial report: 14 August 2013
- Nine-month report: 13 November 2013
The Annual General Meeting will be held in Hamburg on 20 June 2013.
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.
| Contact: Deutsche EuroShop AG Investor & Public Relations Patrick Kiss Heegbarg 36 22391 Hamburg |
Tel. +49-(0)40-413579-20 Fax +49-(0)40-413579-29 E-mail: ir@deutsche-euroshop.com http://www.deutsche-euroshop.com ISIN: DE 000 748020 4 |
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