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3ANNUAL REPORT 2014 Deutsche EuroShop OVERVIEW Highlights 2014 June Annual General Meeting Page 49 > Distribution of a dividend of €1.25 per share Page 46 > July Appointment of Wilhelm Wellner as member of the Executive Board with effect from 1 February 2015 Page 53 > September 50th anniversary of Main-Taunus-Zentrum Page 30 > and 10th anniversary of Phoenix-Center Page 32 > October Start of the construction works for the extension of Phoenix-Center Page 33 > Our values We are the only public company in Germany that in- vests solely in shopping centers in prime locations. We invest only in carefully chosen properties. High quality standards and a high degree of flexibility are just as im- portant to us as sustained earnings growth from index- and turnover-linked rental contracts. In addition, we boast a higher than average occupancy rate of around 99% and professional center management – these are the pillars of our success. C Our goals Deutsche EuroShop does not seek short-term success, but rather the stable increase in the value of our portfolio. Our objective is to generate a sustainably high surplus liquidity from the longterm leasing of our shopping centers to distribute an attractive dividend to our share- holders every year. In order to achieve this, we shall acquire further prime properties and hence establish our- selves as one of the largest companies in Europe focusing on retail properties. C Deutsche EuroShop Overview in € millions 2014 2013 Diffference Revenue 200.8 188.0 7% EBIT 177.5 165.8 7% Net finance costs -39.8 -34.1 -17% Measurement gains/losses 77.0 56.0 38% EBT 214.7 187.6 14% Consolidated profit 177.4 171.0 4% FFO per share in€ 2.23 2.08 7% Earnings per share in €1 3.29 3.17 4% Equity2 1,751.2 1,642.4 7% Liabilities 1,741.0 1,752.5 -1% Total assets 3,492.2 3,394.9 3% Equity ratio in %2 50.1 48.4 LTV-ratio in % 40 43 Gearing in %2 99 107 Cash and cash equivalents 58.3 40.8 43% Net asset value (EPRA) 1,789.4 1,650.4 8% Net asset value per share in € (EPRA) 33.17 30.59 8% Dividend per share in € 1.303 1.25 4% 1 undiluted 2 incl. non controlling interests 3 proposal Key data Legal Published by: Deutsche EuroShop AG, Heegbarg 36, 22391 Hamburg, Phone: +49 (0)40 - 41 35 79 0, Fax: +49 (0)40 - 41 35 79 29, www.deutsche-euroshop.com, ir@deutsche-euroshop.com Editor in chief: Patrick Kiss. Editorial management: Nicolas Lissner. Editors responsible: Claus-Matthias Böge, Olaf Borkers, Kirsten Kaiser, Wilhelm Wellner. Guest editors: Marco Atzberger, Ingmar Behrens, Jörg Brühl, Rolf Bürkl, Daniel Eckert and Holger Zschäpitz, David Huth, Dirk Kunde, Wilfried Reinhardt, Inga Schwarz, Dr. Ruth Vierbuchen. Advertising management: Nicolas Lissner. Concept: Deutsche EuroShop AG. Art Direction: Whitepark GmbH&Co. Layout: Whitepark GmbH&Co. Illustration: Nadja Eckerich. Pictures: Deutsche EuroShop, ECE, Uwe Hüttner, Christian Schmid, fotolia.com, istockphoto.com, Fatboy the Original BV (www.fatboy.com). Digital prepress: Albert Bauer Companies, Hamburg. Production: dierotationsdrucker, 73730 Esslingen. Responsible for the editorial content: Deutsche EuroShop AG, Hamburg. You can find more information and the disclaimer on the last page. REVENUE in € millions 20162015 Goal 201–204 Goal 203–206 2014 Goal 198–201 Result 200.8 EBIT in € millions 20162015 Goal 177–180 Goal 179–182 2014 Goal 174–177 Result 177.5 EBT BEFORE VALUATION in € millions 20162015 Goal 126–129 Goal 130–133 2014 Goal 120–123 Result 125.0 FFO PER SHARE in € 20162015 Goal 2.24–2.28 Goal 2.30–2.34 2014 Goal 2.14–2.18 Result 2.23 Shopping center 19 Countries 4 Germany: 16 centers Austria: 1 center Poland: 1 center Hungary: 1 center Occupancy rate 99% Market value of the portfolio 3.7€ billion Lettable space approx. 930,300m2 Retail shops approx. 2,350 Weighted maturity of rental contracts 6.4years in € millions 20142013 Diffference Revenue 200.8188.07% EBIT 177.5165.87% Measurement gains/losses 77.056.038% EBT 214.7187.614% Consolidated profit 177.4171.04% FFO per share in€ 2.232.087% 3.293.174% 1,751.21,642.47% Liabilities 1,741.01,752.5 -1% Total assets 3,492.23,394.93% 50.148.4 LTV-ratio in % 4043 99107 Cash and cash equivalents 58.340.843% Net asset value (EPRA) 1,789.41,650.48% Net asset value per share in € (EPRA) 33.1730.598% 1.254% Published by: Deutsche EuroShop AG, Heegbarg 36, 22391 Hamburg, Phone: +49 (0)40 - 4135790, Fax: +49 (0)40 - 41357929, www.deutsche-euroshop.com, ir@deutsche-euroshop.com