Deutsche EuroShop: valuation result expected to be EUR-61 million
January 16, 2019 at 01:00 pm
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DGAP-Ad-hoc: Deutsche EuroShop AG / Key word(s): Real Estate/Miscellaneous
Deutsche EuroShop: valuation result expected to be EUR-61 million
16-Jan-2019 / 18:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Deutsche EuroShop: valuation result expected to be EUR-61 million
Deutsche EuroShop AG is anticipates for 2018 a negative pre-tax valuation result of approximately EUR-61 million (previous year: EUR13.1) from unrealised and non-cash changes in the market values of the investment properties and costs in connection with capital expenditures in relation to the center portfolio. Of this amount, approximately EUR-57.0 million (previous year: EUR8.7 million) came from the results of the Group companies and approximately EUR-4.0 million (previous year: EUR4.4 million) from the valuation result of companies shown in the financial result, which are accounted for using the equity method.
At an continously high occupancy ratio of approx. 99% the valuation result for the property portfolio was mainly influenced by on average slightly rising yields for shoppingcenters in Germany and by higher investments into the modernisation and positioning of the portfolio as well as by adjusted expectations for the rent developement.
The valuation result for the real estate properties is still subject to change, as additional items relative to the valuation may come to light during the preparation of the annual financial statements.
The publication of Deutsche EuroShop AG's preliminary results for the financial year 2018 is planned for 27 February 2019.
Person making the notification: Patrick Kiss, Head of Investor & Public Relations
16-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
Deutsche EuroShop AG
Heegbarg 36
22391 Hamburg
Germany
Phone:
+49 (0)40 413 579-0
Fax:
+49 (0)40 413 579-29
E-mail:
ir@deutsche-euroshop.de
Internet:
www.deutsche-euroshop.de
ISIN:
DE0007480204, DE000A1R0W05
WKN:
748020
Indices:
MDAX
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Deutsche Euroshop AG is a Germany-based company that invests in retail centers and shopping malls in cities. It focuses on retail centers in Germany, such as in Wildau, Norderstedt, Dessau, Dresden, Hamburg, Hameln, Magdeburg, Wolfsburg and Wuppertal, but also owns retail centers in Gdansk, Poland, in Klagenfurt, Austria and in Pecs, Hungary.
DEUTSCHE EUROSHOP AG 
