DES Q1 e 2015 - Letter from the Executive Board / Key Group Data

Deutsche EuroShop AG Interim Report Q1 2015Published by: Deutsche EuroShop AG, Hamburg Address: Heegbarg 36, 22391 Hamburg, Germany www.deutsche-euroshop.com Publication date: 12 May 2015 www.facebook.com/euroshop www.twitter.com/DES_AG www.shoppingcenter.agFeel Estate Letter from the Executive Board Dear Shareholders, Dear Readers, Wilhelm Wellner has been a member of the Ex- ecutive Board of our Company since the start of February 2015. He has ten years’ experience in the shopping center sector and will replace Claus- Matthias Böge, who is leaving the company after 14 successful years, as Executive Board Spokes- man at the beginning of July. In Wilhelm Wellner Deutsche EuroShop is setting the course for con- tinuity and success, both now and in the future. And now to business affairs: Our company started the first quarter of financial year 2015 on track. At €50.6 million, revenue in the first three months was 1% higher year-on-year. There was no change to the portfolio, as rental income rising by 1.2%. Net operating income (NOI) and earn- ings before interest and taxes (EBIT) also im- proved by 1% to €46.1 million and €44.6 mil- lion respectively. The consolidated profit increased by 12% to €25.3 million year-on-year due to a reduction in interest expense, improved valuation gains and lower taxes. Earnings per share amounted to €0.47. EPRA earnings per share rose 9%, from €0.44 per share to €0.48. Funds from operations (FFO) improved by 4%, from €0.55 to €0.57 per share. News from our portfolio: The expansion of the Phoenix-Center in Hamburg is going ac- cording to plan and is making great progress, with parts of it due to open in the third and fourth quarters of 2015. The project as a whole is scheduled for completion in spring 2016 with the opening of the food court. We confirm the full-year forecast released in mid-March. We have set a dividend of €1.35 per share for the current financial year, 5 cents higher than the previous year. Hamburg, May 2015 Best regards Claus-Matthias Böge Olaf Borkers Wilhelm Wellner Key Group Data in € million 01.01. – 31.03.2015 01.01. – 31.03.2014 + / – Revenue 50.6 50.0 1% EBIT 44.6 44.2 1% Net finance costs -12.9 -13.8 7% Measurement gains / losses -0.5 -1.1 57% EBT 31.3 29.3 7% Consolidated profit 25.3 22.6 12% FFO per share (€) 0.57 0.55 4% Earnings per share (€, undiluted) 0.47 0.42 12% in € million 31.03.2015 31.12.2014 + / – Equity * 1,774.5 1,751.2 1% Liabilities 1,739.8 1,741.0 0% Total assets 3,514.2 3,492.2 1% Equity ratio (%) * 50.5 50.1 LTV-ratio (%) 39 40 Gearing (%) * 98 99 Cash and cash equivalents 80.8 58.3 39% * incl. non controlling interests Stadt-Galerie, Passau Revenue 50.650.01% EBIT 44.644.21% Net finance costs -12.9 -13.87% Measurement gains / losses -0.5 -1.157% EBT 31.329.37% Consolidated profit 25.322.612% FFO per share (€) 0.570.554% Earnings per share (€, undiluted) 0.470.4212% in € million 31.03.201531.12.2014 + / – 1,774.51,751.21% Liabilities 1,739.81,741.00% Total assets 3,514.23,492.21% 50.550.1 LTV-ratio (%) 3940 9899 Cash and cash equivalents 80.858.339%

DES Q1 e 2015 - Letter from the Executive Board / Key Group Data

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