CONFERENCE CALL Quarterly Statement 3M MAY 2018

Transcription

1 CONFERENCE CALL Quarterly Statement 3M 08 6 MAY 08

2 SHOPPING CENTERS # Retail turnover 3M 08 RETAIL SECTOR % change in 08 rent-to-sales ratio in % DEPARTMENT STORES FOOD FASHION TEXTILES SHOES & LEATHER GOODS SPORTS HEALTH & BEAUTY GENERAL RETAIL ELECTRONICS SERVICES FOOD CATERING TOTAL ² 00² % of sales % of space Germany Abroad Total Retail turnover development on a like-for-like basis: -0.5% +3.0% +0.% Absolute retail turnover development: +0.% +3.6% +0.9% German centers on a like-for-like basis (turnover:. billion) The sum may not equal the totals due to rounding

3 # Profit and Loss Account 3M 08 in thousand CHANGE Revenue 56,044 50,77 0% Property operating and management costs -5,938-4,88 Net operating income (NOI) 50,06 45,846 9% Other operating income Corporate costs -,379 -,89 Earnings before interest and tax (EBIT) 48,983 44,55 % Other financial income and expenses Interest expense -3,93 -,753 At equity result 7,507 7,574 Profit/loss attributable to limited partners -4,533-4,655 Financial gains/ losses -9,574-9,057-6% Measurement gains/losses -,7-736 Earnings before Tax (EBT) 38,37 34,46 % Income taxes -7,874-6,955 Consolidated profit 30,363 7,507 0%

4 # 3 Key figures 3M CHANGE FFO per Share ( ) % Earnings per share (, undiluted) % EPRA Earnings per share (, undiluted) % Number of shares 6,783,594 55,085,76.% Number of additional shares: +3,378,598: Convertible bond (November 07) +4,459,460: Capital increase (March 07)

5 # 4 Funds from Operations (FFO) in thousand per share per share Consolidated profit 30, ,507 0,50 - Measurement gains / losses investment properties, Bond conversion expense Deferred taxes 6, ,96 0. FFO 37, , Weighted number of no-par-value shares issued 6,783,594 55,085,76 The sum of the amounts may not equal the totals due to rounding Including the share attributable to equity-accounted joint ventures and associates

6 # 5 Earnings per Share (EPRA) in thousand per share per share Consolidated profit 30, , Measurement gains / losses investment properties, Measurement gains / losses derivative financial instruments Deferred tax in respect of EPRA adjustments,3 6, , Acquisition costs EPRA Earnings 36, , Weighted number of no-par-value shares issued 6,783,594 55,085,76 The sum of the earnings per share amounts may not equal the totals due to rounding Including the share attributable to equity-accounted joint ventures and associates 3 Regarding deferred taxes on investment properties and derivative instruments

7 # 6 Balance Sheet 3M 08 in thousand Change Non-current assets 4,507,030 4,504,878,5 Current assets 5,904, 9,783 Total assets 4,658,934 4,66,999 3,935 Group equity,69,08,37,376 3,705 Right to redeem of limited partners 338, ,479,69 Total equity,607,89,574,855 3,974 Financial liabilities,543,380,546,67-3,9 Deferred tax liabilities 446, ,800 6,544 Other liabilities 6,38 65,67-4,9 Total equity and liabilities 4,658,934 4,66,999 3, Equity ratio 56.0% 55.6% LTV ratio (consolidated) 3.5% 3.4% LTV ratio ( look-through ) % 34.5% including third-party interest in equity 3 Ratio of net financial liabilities to long-term assets, calculated on the basis Ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to of the groups share non current assets (investment properties and investments accounted for using the equity method)

8 PAGE # 7 XY Loan Structure, INTEREST LOCKIN DURATION PRINCIPLE AMOUNTS ( MILLION) SHARE OF TOTAL LOAN AVG. INTEREST RATE Up to year 6.8.% 3.80% to 5 years % 3.75% 5 to 0 years %.70% Over 0 years %.04% Total 6., %.76% German and 4 foreign bank partners 4, Weighted maturity of fixed interest periods 6. years 3,50 3, ,50,00 % avg. interest rates weighted maturities yrs 0 as of 3 March 08 excl. non-consolidated loans

9 # 8 Maturities until 03, IN MILLION END OF FIXED INTEREST PERIODS RESPECTIVELY EXPIRING LOANS AVG. INTEREST RATE REGULAR REDEMPTION PAYMENTS TOTAL MATURITIES % % % % % % Already fixed: 7.6m,.63%, 0y (0/08) 3.m,.%, 0y (08/09) 4.9m,.68%, 6y (0/00) At-equity consolidated loans IN MILLION END OF FIXED INTEREST PERIODS RESPECTIVELY EXPIRING LOANS AVG. INTEREST RATE DES SHARE % 50% % 50% % 50% 03 0 Saarpark-Center, Neunkirchen Phoenix-Center, Hamburg, Saarpark-Center, Neunkirchen as of 3 March 08 excl. at-equity consolidated loans

10 # 9 Revenue Bridge 3M 08 M M 07 Olympia Standing assets 3M 08 Like-for-like revenue development: +0.M = +0.4%

11 # 0 Net Finance Cost Bridge 3M 08 M 3M 07 Interest expense 3 (without Olympia) Olympia At-equity Swaps Minority profitshare 3M [-.] [-.] [0.8] [7.4] [-4.5] consolidated and at-equity 3 without valuation result and swaps 3M 08 absolute figures in brackets

12 # EBT Bridge 3M 08 M M 07 Olympia (EBT) Standing assets Valuation result Swaps 3M 08 consolidated and at-equity without valuation result

13 # Profit Bridge 3M 08 M M 07 Olympia Standing assets Valuation result Swaps Other deferred taxes 3M 08 consolidated and at-equity 3 related to investment properties without valuation result

14 # 3 Forecast REVENUE m EBT EXCL. VALUATION m FFO m +.5% +5.9% +4.9% EBIT m NUMBER OF SHARES mn FFO PER SHARE +.7% +3.4% +.4% Conversion of convertible bond Compound Annual Growth Rate (CAGR) weighted, taking into account the fact that the convertible bond was nearly fully converted at the end of its term in November 07

15 COMPANY # 4 Outlook Rollout of At your Service and Mall Beautification in 5 Centers: Altmarkt-Galerie Dresden, Billstedt-Center Hamburg, Allee-Center Magdeburg, Rhein-Neckar-Zentrum and Herold-Center Norderstedt Refinancings of approx. 35 until end of the year Increase in dividend to.45 per share for 08 and.50 for 09 At your Service: Rhein-Neckar-Zentrum (visualisation) Publication of the Annual Report 07: 7 April 08

16 APPENDIX # 5 Financial Calendar Quarterly Statement 3M Roadshow Copenhagen, equinet Berenberg European Conference, Tarrytown Kepler Cheuvreux German Property Day, Paris Kempen & Co European Property Seminar, Amsterdam Deutsche Bank dbaccess Conference, Berlin Roadshow London, Societe Generale Annual General Meeting, Hamburg Half-year Financial Report Berenberg Real Estate Seminar, Helsinki Commerzbank Sector Conference, Frankfurt EPRA Annual Conference, Berlin Goldman Sachs & Berenberg German Conference, Munich Baader Investment Conference, Munich Societe Generale Pan European RE Conference, London Expo Real, Munich 3.0. Roadshow Madrid, M.M. Warburg 4.0. Roadshow Paris, Natixis 4.. Quarterly Statement 9M DZ Bank Equity Conference, Frankfurt 03.. Berenberg European Conference, Pennyhill

17 APPENDIX # 6 Contact PATRICK KISS Head of Investor & Public Relations WILHELM WELLNER Chief Executive Officer OLAF BORKERS Chief Financial Officer NICOLAS LISSNER Manager Investor & Public Relations Deutsche EuroShop AG Investor & Public Relations Heegbarg Hamburg Tel. +49 (40) / Fax +49 (40) ir@deutsche-euroshop.com Web: ir-mall.com facebook.com/euroshop flickr.com/desag slideshare.net/desag twitter.com/des_ag youtube.com/deutscheeuroshop Important Notice: Forward-Looking Statements Statements in this presentation relating to future status or circum-stances, including statements regarding management s plans and objectives for future operations, sales and earnings figures, are forward-looking statements of goals and expectations based on estimates, assumptions and the anticipated effects of future events on current and developing circumstances and do not necessarily predict future results. Many factors could cause the actual results to be materially different from those that may be expressed or implied by such statements. Deutsche EuroShop does not intend to update these forward-looking statements and does not assume any obligation to do so.