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ePaper created 2014-04-29, 17:58:02 | version 1.30.00
this excellent shopping center, which has around 200 shops and attracts over 16 mil- lion visitors every year. We should also mention that we added the Herold-Center in Norderstedt to our portfo- lio on 1 January 2013, and it made a signifi- cant contribution to our growth in the previ- ous financial year. TALKING OF DRESDEN, HOW DID THE DES SHOPPING CENTERS LOCATED IN THE CITIES AFFECTED BY THE TERRIBLE FLOODING IN JUNE SURVIVE THE DISASTER? OLAF BORKERS: There was no danger of flooding in the Altmarkt-Galerie in Dresden and its underground garage. Luckily, the flood disaster of 2002 did not repeat itself in the centre of Dresden. ? We initially expected funds from operations to fall within a range of €1.99 to €2.03 per share. By the end of the year, we had in- creased the forecast to €2.06 to €2.09, and the actual figure was €2.08. YOU JUST MENTIONED A GAIN ON DISPOSAL. CAN YOU GIVE US ANY DETAILS? CLAUS-MATTHIAS BÖGE: At the end of Au- gust, we sold our 33% stake in the Galeria Dominikanska in Wroclaw, Poland, which was our smallest shareholding. This enabled us to further optimise our portfolio, and im- portantly, we were able to generate a profit of €15.8 million. HAVE THERE BEEN OTHER CHANGES IN THE PORTFOLIO? CLAUS-MATTHIAS BÖGE: Yes, on 1 May we invested €132 million and purchased our partner’s 33% stake in the Altmarkt-Galerie in Dresden. We now have full ownership of ? ? this excellent shopping center which hass from operations There is no guarantee that the value of real estate will carry on rising. O O DEUTSCHEEUROSHOPANNUALREPORT2013 010