DGAP-Adhoc: Deutsche EuroShop: Preliminary Results 2009 - Operational Result 10% Up - EUR 33.9 million Consolidated Profit - 2010 Forecast Raised

| Source: EQS Group AG EQS Group AG 

Deutsche EuroShop AG / Preliminary Results/Change in Forecast

16.02.2010 11:33 

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.

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Deutsche EuroShop: Preliminary Results 2009 -  Operational Result 10% Up -
EUR 33.9 million Consolidated Profit - 2010 Forecast Raised

Hamburg, February 16, 2009 - The shopping center investor Deutsche EuroShop
is expecting a consolidated profit of EUR 33.8 million (2008: EUR 68.9
million) for the fiscal year ended 31 December 2009. The forecast is based
on preliminary results for 2009 and includes the valuation of the shopping
centers. The figures correspond to earnings per share of EUR 0.94 (2008:
EUR 2.00). The Funds from Operations (FFO) increased by 4.8% from EUR 1.45
per share to EUR 1.52. The Company intends to propose to the shareholders
at the Annual General Meeting on 17 June 2010 in Hamburg that an unchanged
dividend of EUR1.05 per share be distributed for the 2009 financial year.

Key figures & valuation

The revenue amounted to EUR 127.6 million, 10.6% more than in the prior
year (EUR 115.3 million, like-for-like growth +2.0%). With earnings before
interest and taxes (EBIT) of almost EUR 110.7 million (2008: EUR 98.1
million) the operating earnings before taxes (EBT) amounted to approx. EUR
54.9 million (2008: EUR 49.9 million), the valuation result (after
minorities) to approx. EUR -13.7 million (2008: EUR 37.1 million). The
average revaluation result of the centers was approx. -0.9% - due to
increased yields (+18 bp, net initial yield of the portfolio 5.82%). The
Net Asset Value (NAV) per share decreased from EUR 27.43 by 2.7% to EUR
26.68.

Forecast 2010

For fiscal year 2010, Deutsche EuroShop raises its forecast in
consideration of the acquisition of the A10 Center and expects a revenue of
EUR 139-142 million (previously expected EUR 128-131 million), an EBIT of
EUR 118-121 million (previously expected EUR 109-112 million) and an
operating EBT of EUR 58-60 million (previously expected EUR 53-55 million).
For the FFO EUR 1.41-1.45 per share were planned so far. Now - in
consideration of the 2010 accomplished rights issue (weighted number of
shares in 2010: 43,562,067, previous year 36,041,949) - EUR 1.33-1.38 per
share are expected.

The final figures for fiscal year 2009 will be published on 30 April 2010
at the company's annual earnings press conference in Hamburg.

Preliminary key figures and forecast Deutsche EuroShop
|[![CDATA[|[pre|]]]|]
in EUR million                           2008     2009     Forecast 2010
Revenue                                 115.3    127.6           139-142
EBIT                                     98.1    110.7           118-121
EBT (excluding valuation result)         49.9     54.9             58-60
FFO per share (EUR)                      1.45     1.52         1.33-1.38
|[![CDATA[|[/pre|]]]|]

Deutsche EuroShop AG
Investor & Public Relations
Patrick Kiss
Oderfelder Straße 23
20149 Hamburg

Tel. +49-(0)40-413579-20
Fax +49-(0)40-413579-29

E-Mail: ir@deutsche-euroshop.com
http://www.deutsche-euroshop.com

http://www.facebook.com/desag
http://www.slideshare.net/desag
http://www.twitter.com/des_ag

ISIN: DE 000 748020 4




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Language:     English
Company:      Deutsche EuroShop AG
              Oderfelder Straße 23
              20149 Hamburg
              Deutschland
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
WKN:          748020
Indices:      MDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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