To make your forecasts it may help to have the comparable numbers of FY2012. The Excel sheet offers a full usability. You can start with your projections right here!
We'll publish the preliminary results on Thursday, 20 March 2014 after market close.
We will host an English conference call at 10:00 a.m. CET on Friday, 21 March 2014.
You can access the earnings call slideshow presentation via the Internet at http://www.deutsche-euroshop.de/ir.
If you have questions orsuggested discussion points for our call, please post them here or email them to us at ir@deutsche-euroshop.com. We will use your feedback to address the most popular topics on the conference call.
If after the conference call you still have questions that were not addressed, please send them to us and we'll do our best to get your questions answered.
Important note regarding our guidance:
Referring to the adjustments due to the at-equity consolidation revenues and EBIT for 2012 had to be restated. The EBT and FFO comparable numbers are unaffected. The 2013 guidance remains unchanged.
In accordance with IAS 31.38 we applied for a voluntary adoption of the equity-method for our jointly-controlled operations. Accidentally we included Stadt-Galerie Passau and Phoenix-Center Hamburg, too. So the comparable numbers of 2012 were not correct until 3rd quarter, which we deeply regret. However, in light of this we readjusted the comparable revenues and EBIT 2012 again for the full year as follows:
The 2012 revenues (€178.2 million instead of €157.1 million as published) include revenues of €21.1 million from the Stadt-Galerie Passau and the Phoenix-Center Hamburg. The same applies to EBIT, which was at €151.6 million (including the contribution of the two centers) in 2012 (previous comparable number: €132.3 million).
Stadt-Galerie Passau and Phoenix-Center Hamburg changed to at-equity because we terminated the voting agreements with co-investors in these two centers on 31.12.2012. A switch to the at-equity method for these two centers is therefore only possible from 1.1.2013 - even if it is less transparent.