DES Q2 e 2014

deutsche euroshoP Interim Report H1 2014 03 Income taxes Taxes on income and earnings came to €11.1 million (previous year: €8.7 million). €2.4 million of this (previous year: €0.8 million) was attributable to taxes to be paid and €8.7 million (previous year: €7.9 million) to deferred taxes. 23% increase in consolidated profit Consolidated profit amounted to €46.3 million, 23% higher year-on- year. Basic earnings per share were €0.86, compared with €0.70 in the previous year. EPRA earnings per share rose 19% from €0.76 per share to €0.91. 30.06.2014 30.06.2013 in € thousand per share (€) in € thousand per share (€) Consolidated profit 46,345 0.86 37,693 0.70 Valuation gains / losses 2,882 0.05 3,065 0.05 Valuation gains / losses for equity-accounted companies 307 0.01 1,391 0.03 Deferred taxes -596 -0.01 -1,020 -0.02 EPRA Earnings 48,938 0.91 41,129 0.76 Weighted number of shares 53,945,536 53,945,536 Funds from operations (FFO) up 16% FFO rose from €50.7 million to €58.9 million, or from €0.94 to €1.09 per share (+16%). 30.06.2014 30.06.2013 in € thousand per share (€) in T€ per share (€) Consolidated profit 46,345 0.86 37,693 0.70 Bond conversion expense 578 0.01 542 0.01 Valuation gains / losses 2,882 0.05 3,065 0.06 Valuation gains / losses for equity-accounted companies 307 0.01 1,391 0.03 Deferred taxes 8,756 0.16 7,978 0.15 FFO per share 58,868 1.09 50,669 0.94 EPRA Earnings Funds from Operations Results of operations Revenue increased by 12% Revenue during the first half of the year came in at €99.7 million. This is more than 12% higher than in the same period of the previous year (€88.8 million) and can largely be attributed to the Altmarkt- Galerie in Dresden, which has been fully consolidated since 1 May 2013. Revenue from our shopping center portfolio rose accordingly by 2.7% year-on-year. Operating and administrative costs for property: 9.2% of revenue Center operating costs were €9.2 million in the reporting period, compared with €8.7 million in the same period of the previous year. Costs therefore stood at 9.2% of revenue (previous year: 9.7 %). Other operating expenses of €2.9 million Other operating expenses of €2.9 million were slightly below those of the previous year (€3.5 million), as one-off costs were incurred in the previous year in connection with the withdrawal from DB Immo- bilienfonds. EBIT up 14% Earnings before interest and taxes (EBIT) increased by around 14% or €77.2 million, from €11.1 million to €88.3 million. Net finance costs nearly unchanged At €-28.0 million, net finance costs were just slightly lower than in the previous year (€-27.7 million), which can largely be attributed to the effects of first-time consolidation of the Altmarkt-Galerie in Dresden on 1 May 2013. As a result, interest expense during the first half of 2014 was nearly €2.0 million over the previous year and the profit share of consolidated companies accounted for using the equity method fell €2.0 million short of the previous year’s figure. On the other hand, other financial expenses were down €4.1 million due to a swap for an Altmarkt-Galerie loan which was recognised in income. Moreover, the profit share for third-party shareholders rose by €0.4 million from €7.8 million to €8.2 million. Valuation gains / losses Valuation losses were €2.9 million (previous year: €-3.1 million) and included investment costs for the existing properties in our portfolio. Adjusted EBT excluding valuation gains / losses up 19% Earnings before taxes (EBT) climbed €11.0 million, from €46.4 mil- lion to €57.4 million. After adjustment for valuation gains, this amount rose from €50.9 million to €60.6 million (+19%).

DES Q2 e 2014

Seitenübersicht