Deutsche Euroshop Ag · XETR:DEQ
Deutsche Euroshop — Deutsche Euroshop Ag Akt — 9M 2024 Earnings Presentation
21 slides from Deutsche Euroshop's earnings presentation, Nov 15, 2024
Slide 1: Eat. Shop. Laugh. Quarterly Statement 9M 2024
Conference Call Eat. Shop. Laugh. Quarterly Statement 9M 2024 15 November 2024
Slide 2: Update on Business Activities 9M 2024 – Summary
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Update on Business Activities 9M 2024 – Summary Business Development Positive development of operational business Increase of footfall (+0.2%) and retail sales (+1.9%) compared to 9M 2023 Revenue €200.0 m (-1.6%), EBIT €162.8 m (
Slide 3: Update on Business Activities 9M 2024 – Summary (Financing and Liquidity)
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Update on Business Activities 9M 2024 – Summary Financing and Liquidity Dividend of €2.60 per share (paid on 3 September 2024) LTV of 39.9% and solid cash position of €198.7 m (after €198.8 m dividend in September) Steady funding
Slide 4: Development of Retail Turnover and Footfall
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Development of Retail Turnover1 and Footfall 50,000 1,000 40,000 CAGR +3.1% 800 30,000 600 CAGR +1.7% 20,000 400 avg. daily footfall per center retail turnover per quarter in €m 10,000 200 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 2
Slide 5: Retail Turnover 9M 2024
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Retail Turnover 9M 20241 % change occupancy cost % of % of RETAIL SECTOR in 2024 ratio (OCR) in % sales space Food/Supermarkets/Discounter +2.6 8.5 11.3 8.5 Fashion Textiles +2.4 14.7 29.8 44.7 Shoes & Leather Goods +5.8 15.7 3.8 4.3 S
Slide 6: Revenues – Slight Decrease in Line with Plan
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Revenues – Slight Decrease in Line with Plan Revenue Revenues decreased by €3.2m to €200.0m (-1.6%) in € million 203.2 200.0 Essentially due to – temporary vacancies resulting from investment measures in the portfolio – lower turno
Slide 7: EBIT above previous Year
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 EBIT above previous Year EBIT EBIT above previous year +4.7% (€+7.3m) driven mainly by the in € million impact on earnings from the change in the scope of 162.8 consolidation in the prior year 155.51 Operating and administrative co
Slide 8: EBT – Slightly Increased
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 EBT1 – Slightly Increased EBT1 EBT (excl. valuation) above previous year +2.3% (€+2.8m) in € million 122.2 125.0 Increase in EBIT partly offset by lower financial result due to loan increases (€-4.5m) +2.3% 9M 2023 9M 2024 in € tho
Slide 9: Funds From Operations (FFO) – Lower due to one-off Effects
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Funds From Operations (FFO) – Lower due to one-off Effects in the Previous Year FFO FFO decreased from €129.7m to €119.7m due to 129.7 119.7 in € million – higher other income from additional payments with respect (per share in €) to
Slide 10: Balance Sheet – Solid and Robust Structure
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Balance Sheet – Solid and Robust Structure Balance sheet structure LTV 39.9% (EPRA LTV 42.0%3) higher due to loan increases in € million and dividend distributions Equity ratio decreased from 53.3% to 48.7% 4,460.2 4,460.2 Group
Slide 11: Financing Structure
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Financing Structure1 Key credit metrics Loan maturity profile Share of Total debt Average interest rate Weighted maturity total loans 3% 13% 11% 8% 9% 11% 14% 16% 12% 2% 100% €1,813m 2.60% 5.4 years 300 5.0% LTV Net debt/EBITDA EBITDA/
Slide 12: Rhein-Neckar-Zentrum: Retailtainment & Casual Dining
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Rhein-Neckar-Zentrum: Retailtainment & Casual Dining L'Osteria, pizza and pasta in a modern, free- standing restaurant building with attractive outdoor terraces (opened in 02/24) Three new tenants moved into the property of a forme
Slide 13: Stadt-Galerie Hameln: New Promising Tenants
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Stadt-Galerie Hameln: New Promising Tenants Action (non-food discount store) and Netto (supermarket) opened in 10/24 on the site of the former Real hypermarket 13 Source: ECE SHOPPING CENTERS
Slide 14: A10 Center: New Promising Tenants
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 A10 Center: New Promising Tenants TK Maxx (clothing and homeware, opened in 09/24) and Media Markt (consumer electronics, opened in 10/24) as complementary neighbours for the successful Kaufland 14 Source: ECE SHOPPING CENTERS
Slide 15: Main-Taunus-Zentrum: Food Garden
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Main-Taunus-Zentrum: Food Garden Major investment in the DES portfolio Approx. €28 m total investment for the strategic advancement of the center Very high sustainability standards Completely pre-let, high-quality tenant struct
Slide 16: Forecast
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Forecast REVENUE EBT EXCL. VALUATION FFO €m €m €m 264.71 273.3 268 - 271 171.3 169.5 156 - 160 151 - 155 51.9 149.61 15.03 149.61 15.03 19.4 19.5 212.8 154.5 156.3 130.2 130.1 2022 2023 2024 2022 2023 2024 2022 2023 2024 EBIT NUMBER OF
Slide 17: Key Data of the Share
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Key Data of the Share Listed since 02.01.2001 Nominal capital €76,464,319.00 Outstanding shares 76,464,319 Class of shares Registered shares Number of treasury shares (8 November 2024) 639,829 Dividend for 2023 (paid on 3 September 202
Slide 18: Financial Calendar
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Financial Calendar 2024 14.11. Quarterly Statement 9M 2024 21.11. CIC Forum by Market Solutions (virtual) 2025 22.01. Kepler Cheuvreux German Corporate Conference, Frankfurt 18.03. Preliminary Results FY 2024 20.03. Bank of America EME
Slide 19: Consolidated Income Statement 9M 2024
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Consolidated Income Statement 9M 2024 € thousand 01.01. – 30.09.2024 01.01. – 30.09.20231 Revenue 199,964 203,172 Property operating costs -19,979 -25,486 Property management costs -11,076 -10,561 Write-downs and disposals of financial
Slide 20: Consolidated Balance Sheet 9M 2024
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Consolidated Balance Sheet 9M 2024 € thousand 30.09.2024 31.12.2023 € thousand 30.09.2024 31.12.2023 ASSETS LIABILITIES Intangible assets 51,734 51,742 Subscribed capital 76,464 76,464 Property, plant and equipment 420 449 Capital rese
Slide 21: Contact
CONFERENCE CALL - QUARTERLY STATEMENT 9M 2024 | 15 NOVEMBER 2024 Contact Deutsche EuroShop AG Investor & Public Relations Heegbarg 36 instagram.com/deutscheeuroshop 22391 Hamburg youtube.com/DeutscheEuroShop Tel. +49 (40) 41 35 79 – 20/– 22 facebook.com/euroshop Fax +49 (40) 41 35 79 – 29 slideshare
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