DES Q1 e 2013

Interim Report Q1 2013 DES Interim Report Q1 2013 { 3 } 22 % increase in consolidated profit Consolidated profit amounted to € 20.1 million, € 3.6 million (+22 %) higher year-on-year. Earnings per share (basic) amounted to € 0.37, compared with € 0.32 last year. EPRA earnings per share rose 18 % from € 0.34 per share to € 0.40. Earnings per share 01.01. – 31.03.2013 01.01. – 31.03.2012 In € thou- sands per share (€) In € thou- sands per share (€) Consolidated profit 20,116 0.37 16,543 0.32 Measurement gains / losses 1,397 0.03 785 0.02 Measurement gains / losses for equity accounted companies 741 0.01 82 0.00 Deferred taxes -525 -0.01 -181 0.00 EPRA* earnings 21,729 0.40 17,229 0.34 Weighted no. of shares in thousands 53,945 51,935 * European Public Real Estate Association Funds from Operations (FFO) up 11 % FFO rose from € 23.2 million to € 26.9 million, or from € 0.45 to € 0.50 per share (+11 %). 01.01. – 31.03.2013 01.01. – 31.03.2012 Consolidated profit 20,116 16,543 Measurement gains / losses 1,397 785 Measurement gains / losses for equity accounted companies 741 82 Deferred taxes 4,646 5,742 FFO 26,900 23,152 per share (€) 0.50 0.45 Financial Position and Net Assets Net assets and liquidity The Deutsche EuroShop Group’s total assets decreased by € 72.6 mil- lion compared with the year-end figure in 2012 to € 3,086.6 mil- lion. Non-current assets increased by € 1.9 million. Receivables and other current assets increased by € 1.6 million. At € 82.0 million, cash and cash equivalents were € 76.2 million higher than on 31 Decem- ber 2012 (€ 158.2 million). in € thousands Equity ratio of 50.2 % The equity ratio (incl. shares held by third-party shareholders) improved by 1.8 percentage points. It amounted to 50.2 % on the reporting date compared to 48.4 % on 31 December 2012. Liabilities As at 31 March 2013, financial liabilities stood at € 1,274.0 million and were thus € 83.7 million lower than at the end of 2012. Non-current deferred tax liabilities increased by € 5.4 million to € 186.0 million due to additional provisions. Redemption entitlements for third- party shareholders fell by around € 0.4 million. Other liabilities and provisions were reduced by €16.1 million, primarily due to tax pay- ments made. The Shopping Center Share Following a year-end closing price of € 31.64 in 2012, a slight down- ward trend caused Deutsche EuroShop shares to hit € 30.40 on 14 January 2013, their lowest level for the period. A short time later, they stabilised within a corridor of between € 31.00 and € 31.80. The share reached its highest closing price of € 32.17 in the first three months of 2013 on 5 March. This was also a new all-time high. The price at the end of the reporting period was € 31.56. This is equiva- lent to a performance of -0.3 % during the first three months. The MDAX rose by 11.8 % over the same period. Deutsche EuroShop’s market capitalisation stood at € 1.6 billion at the end of the first quarter of 2013. Deutsche EuroShop vs. MDAX and EPRA Comparison, January to April 2013 (indexed, base of 100, in %) MDAX EPRADeutsche EuroShop Jan. Mar.Feb. Apr. May 100 120 80 100 120120 115 110 105 100 95

DES Q1 e 2013

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