Deutsche EuroShop: valuation result 2019 expected to be approximately EUR-123 million
January 07, 2020 at 05:20 pm
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DGAP-Ad-hoc: Deutsche EuroShop AG / Key word(s): Real Estate/Miscellaneous
Deutsche EuroShop: valuation result 2019 expected to be approximately EUR-123 million
07-Jan-2020 / 18:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Deutsche EuroShop: valuation result 2019 expected to be approximately EUR-123 million
Deutsche EuroShop AG is anticipates for 2019 a negative pre-tax valuation result of approximately EUR-123.0 million (previous year: EUR-58.3) from unrealised and non-cash changes in the market values of the investment properties and costs in connection with capital expenditures in relation to the center portfolio. Of this amount, approximately EUR-96.0 million (previous year: EUR-55.7 million) came from the results of the Group companies and approximately EUR-27.0 million (previous year: EUR-2.6 million) from the valuation result of companies shown in the financial result, which are accounted for using the equity method.
The main factors influencing the valuation included on average slightly increased yields for shopping centers in Germany, investments in the modernization and positioning of the existing portfolio as well as the rent development. The occupancy ratio of the shopping center portfolio according to EPRA fell slightly to 97.6% (-1.0 percentage point).
The valuation result for the real estate properties is still subject to change, as additional items relevant to the valuation may come to light during the preparation of the annual financial statements.
The publication of Deutsche EuroShop AG's preliminary results for the financial year 2019 is planned for 19 March 2020.
This notice contains complementary financial figures that are not precisely defined by the relevant accounting standards and that (may) represent alternative performance indicators. These complementary financial figures should not be considered in isolation or as an alternative to the figures presented in the consolidated financial statements and determined in accordance with the relevant accounting standards when evaluating the assets, financial position and results of operations of Deutsche EuroShop. Such alternative performance indicators may be calculated differently but labelled similarly by other companies. For explanations regarding the financial figures used, please consult www.deutsche-euroshop.de/Investor-Relations/Service/Glossary/
Person making the notification: Patrick Kiss, Head of Investor & Public Relations
07-Jan-2020 CET/CEST 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:
ir@deutsche-euroshop.de
Internet:
www.deutsche-euroshop.de
ISIN:
DE0007480204
WKN:
748020
Indices:
SDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Deutsche Euroshop AG is a Germany-based company that invests in retail centers and shopping malls in cities. It focuses on retail centers in Germany, such as in Wildau, Norderstedt, Dessau, Dresden, Hamburg, Hameln, Magdeburg, Wolfsburg and Wuppertal, but also owns retail centers in Gdansk, Poland, in Klagenfurt, Austria and in Pecs, Hungary.
DEUTSCHE EUROSHOP AG 
