Deutsche EuroShop: September 2020 update on the coronavirus pandemic

Hamburg, 21 September 2020 - Deutsche EuroShop has been providing information on current developments and selected key figures from the 21 shopping centers in its portfolio since the start of the coronavirus pandemic. As at 18 September 2020, the situation is as follows:

Opening status of shops in individual countries:

Germany:	Austria:	Poland:	Czech Republic:	Hungary:
97.5%	97.2%	97.4%	96.2%	95.7%

Visitor numbers compared with the previous year:

March:	April:	May:	June:	July:	August:
55%	28%	61%	71%	78%	80%

Retail sales in German centers compared with the previous year:

March:	April:	May:	June:	July:	August:
52%	31%	67%	82%	88%	90%

Trend in the collection ratio:

March:	April:	May:	June:	July:	August:
95%	45%	49%	60%	87%	89%

Percentage of tenants in insolvency/protection proceedings: 7.3% of tenants. The companies affected are seeking to restructure their business activities, and Deutsche EuroShop currently expects that a large proportion of the shops will be able to continue operating.

Thanks to its low level of debt ("look-through" LTV as at 30 June 2020: 34.8%) and its existing liquidity (30 June 2020: €179 million), Deutsche EuroShop has solid financial room for manoeuvre in this exceptional situation as well as an unused credit line of €150 million. At the end of March this year, a €70 million credit agreement was signed to refinance loan obligations due at the end of 2020. Last week, refinancing for a loan expiring at the end of June 2021 was also agreed: €70.3 million, ten-year term, without redemption, interest rate 1.18%.

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 SDAX-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.