Deutsche EuroShop AG Interim Report H1 2015 - Letter from the Executive Board / Key Group Data

Deutsche EuroShop AG Interim report H1 2015Published by: Deutsche EuroShop AG, Hamburg Address: Heegbarg 36, 22391 Hamburg, Germany www.deutsche-euroshop.com Publication date: 13 August 2015 www.facebook.com / euroshop www.twitter.com / DES_AG www.shoppingcenter.agFeel Estate Letter from the Executive Board Dear Shareholders, Dear Readers, The first six months of 2015 went according to plan for Deutsche EuroShop. Revenue rose slight- ly, to €100.6 million from €99.7 million in the year-earlier period. Net operating income (NOI) climbed by 1.3% to €91.8 million, while earnings before interest and tax (EBIT), at €88.2 million, were slightly below the figure for the same period in 2014 (€88.3 million), due to non-recurring effects. Consolidated profit rose year-on-year by 7.2% to €49.7 million. This pushed earnings per share up to €0.92, and EPRA earnings per share adjusted for valuation effects were 4.4% higher at €0.95. Funds from operations (FFO) improved by 4.6% from €1.09 to €1.14 per share. The increases are attributable to the contin- ued strong performance (disregarding non-recur- ring effects) in operating business. The further year-on-year improvement in net finance costs also had a positive impact. The transaction market for shopping centers remains very active and is currently dominated by foreign investors. In an environment of further price rises and growing investor risk appetite, we investigated a number of investment opportuni- ties in the first half of the year. Ultimately our of- fer for one center in Germany was unsuccessful. We are continuing to monitor the market closely but do not currently expect to be able to announce a new center acquisition in the near future. Aside from this, we pursued further opti- misation of our center and credit portfolio. The building measures and letting activities at the Phoenix-Center Harburg expansion are pro- gressing according to schedule. We also received planning approval in June to create a modern food court at our City-Point Kassel center. We paid a dividend of €70.1 million or €1.30 per share on 19 June for financial year 2014. After the first six months of the year have gone according to plan, we confirm our forecast for the year as a whole. We plan to pay a dividend of €1.35 per share for financial year 2015, another five cents higher than for the previous year. Hamburg, August 2015 Best regards Wilhelm Wellner Olaf Borkers Key Group Data in € million 01.01. –  30.06.2015 01.01. –  30.06.2014 + / – Revenue 100.6 99.7 1% EBIT 88.2 88.3 0% Net finance costs -24.7 -28.0 12% Measurement gains / losses -2.0 -2.9 31% EBT 61.5 57.4 7% Consolidated profit 49.7 46.3 7% FFO per share (€) 1.14 1.09 5% Earnings per share (€, undiluted) 0.92 0.86 7% in € million 30.06.2015 31.12.2014 + / – Equity * 1,736.0 1,751.2 -1% Liabilities 1,769.0 1,741.0 2% Total assets 3,504.9 3,492.2 0% Equity ratio (%) * 49.5 50.1 LTV-ratio (%) 41 40 Gearing (%) * 102 99 Cash and cash equivalents 73.3 58.3 26% * incl. non controlling interests A10 Center, Wildau / Berlin Revenue 100.699.71% EBIT 88.288.30% Net finance costs -24.7 -28.012% Measurement gains / losses -2.0 -2.931% EBT 61.557.47% Consolidated profit 49.746.37% FFO per share (€) 1.141.095% Earnings per share (€, undiluted) 0.920.867% in € million 30.06.201531.12.2014 + / – 1,736.01,751.2 -1% Liabilities 1,769.01,741.02% Total assets 3,504.93,492.20% 49.550.1 LTV-ratio (%) 4140 10299 Cash and cash equivalents 73.358.326%

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