Deutsche Euroshop Ag · XETR:DEQ
Deutsche Euroshop — Deutsche Euroshop Ag Akt — FY2024 Earnings Presentation
29 slides from Deutsche Euroshop's earnings presentation, Mar 28, 2025
Slide 1: Conference Call Financial Results 2024
Conference Call Financial Results 2024 28 March 2025 Conference Call Financial Results 2024 Eat. Shop. Laugh. 28 March 2025
Slide 2: Update on Business Activities FY 2024 – Summary
COMPANY CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Update on Business Activities FY 2024 – Summary Business Development Positive development of operational business, results above full-year forecast Increase of footfall (+0.6%) and retail sales (+2.5%) Revenue €271.4 m (-0.7%), E
Slide 3: Update on Business Activities FY 2024 – Summary (Financing and Liquidity)
COMPANY CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Update on Business Activities FY 2024 – Summary Financing and Liquidity Dividend proposal of €1.00 per share for FY 2024 LTV of 39.2% and solid cash position of €212.4 m (after €346.6 m dividend payments in 2024) Steady funding s
Slide 4: Positive Development of Retail Turnover and Footfall
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Positive Development of Retail Turnover1 and Footfall 50,000 1,000 CAGR +4.8% 40,000 800 30,000 CAGR +3.2% 600 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 2
Slide 5: Insight into Retail Turnover 2024
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Insight into Retail Turnover 20241 % change occupancy cost % of % of RETAIL SECTOR in 2024 ratio (OCR) in % sales space Food/Supermarkets/Discounter +2.3 8.3 12.2 9.8 Fashion Textiles +2.3 14.6 29.7 44.6 Shoes & Leather Goods
Slide 6: Maturity Distribution of Rental Contracts
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Maturity Distribution of Rental Contracts1 2025 2030 onwards Long-term contracts base 5% 2026 rental income 15% Weighted maturity 4.7 years 2023 4.7 years 40% 2027 Occupancy rate 95.42% 12% 2023 93.0% 10% 2028 18% 2029 1 As %
Slide 7: Tenant Structure – Low Dependence on Top Tenants
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Tenant Structure – Low Dependence on Top Tenants 20241 2023 Low level of dependence on the Top 10 Tenants1 H&M 2.7% 2.6% Deichmann 2.4% 2.3% New Yorker 2.4% 2.3% 21% P&C Düsseldorf 2.2% 2.2% Ceconomy 2.2% 2.2% C&A 2.1% 2.2% Do
Slide 8: Sector Mix – Balanced Sector Diversification
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Sector Mix1 – Balanced Sector Diversification Food & supermarkets Health & beauty 10.8% 7.6% Catering 5.2% Drug stores & Non-food/electronics hypermarkets 19.1% 4.2% Leisure & entertainment 3.5% Services 2.0% Balanced sector d
Slide 9: Valuation – Investment Properties December 2024
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Valuation1 – Investment Properties 31 December 2024 in € thousand 31.12.2024 31.12.2023 CHANGE Stable property valuation Revaluation -25,923 -229,365 203,442 Slightly negative valuation result of €-14.6 m Revaluation at-equity 8,2
Slide 10: Revenues – Impacted by Temporary Vacancies due to Investment Measures
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Revenues – Impacted by Temporary Vacancies due to Investment Measures Revenues Revenues decreased by €1.9 m to €271.4m in € million Essentially due to temporary vacancies as a result of 273.3 271.4 investment measures as well as
Slide 11: EBIT – Increase Resulting from Declining Operating Costs
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 EBIT – Increase Resulting from Declining Operating Costs EBIT EBIT above the previous year +1.7% (€+3.6m) in € million Largely due to the rise in net operating income (NOI) related to 212.7 216.3 declining operating center expen
Slide 12: Financial Result – Increased Interest Expenses following Loan Increases
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Financial Result1 – Increased Interest Expenses following Loan Increases Financial result1 Financial result decreased: €-7.9 m in € million 2023 2024 Interest expenses up by €5.8 m due to further loan increases and higher intere
Slide 13: EBT – Below Previous Year due to Increased Interest Expenses
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 EBT1 – Below Previous Year due to Increased Interest Expenses EBT1 EBT excl. valuation below previous year by -2.5% (€-4.3m) due in € million to a downturn in the financial result – mainly due to the 169.5 165.2 increase in intere
Slide 14: Consolidated Result – Significant Increase from Higher Valuation Result
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Consolidated Result – Significant Increase from Higher Valuation Result Consolidated result Consolidated result increased by €161.8 m in € million 123.5 Slightly decreased result from operations (EBT €-4.3 m) Valuation result (€
Slide 15: Funds From Operations (FFO) – Lower but Above Increased Forecast Range
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Funds From Operations (FFO) – Lower but Above Increased Forecast Range FFO FFO decreased from €171.3 m to €157.1 m in € million due to lower financial result Exceeding the increased forecast range of €151 m to €155 m FFO per s
Slide 16: Balance Sheet – Solid and Robust Structure
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Balance Sheet – Solid and Robust Structure Balance sheet structure Equity ratio slightly decreased to 49.2%1 in € million LTV at 39.2%2 (EPRA LTV (“look through”) 41.1%3) Group liquidity: €212.4 m 4,460.2 4,364.4 4,364.4 4,460
Slide 17: Net Tangible Assets (EPRA) – Decrease Following Dividend Payments
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Net Tangible Assets (EPRA) – Decrease Following Dividend Payments EPRA NTA EPRA NTA per share decreased due to dividend payments in € million (per share in €) to €29.02 (-8.1%) Share price discount to NTA: 31% (26 March 2025) -8
Slide 18: Financing Structure
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Financing Structure1 Key credit metrics Loan maturity profile Share of Total debt Average interest rate Weighted maturity total loans 0% 10% 11% 8% 9% 11% 17% 19% 12% 2% 100% €1,808m 2.76% 5.5 years 400 5.0% LTV Net debt/EBITDA EBIT
Slide 19: Rhein-Neckar-Zentrum: Retailtainment & Casual Dining
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 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 o
Slide 20: Stadt-Galerie Hameln: New Major Tenants
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Stadt-Galerie Hameln: New Major Tenants Action (non-food discount store) and Netto (supermarket) opened in 10/24 on the site of the former Real hypermarket Source: ECE 20
Slide 21: A10 Center: New Major Tenants
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 A10 Center: New Major 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 Source: ECE 21
Slide 22: Main-Taunus-Zentrum: Food Garden
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 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 let, high-quality tenant s
Slide 23: Environmental, Social & Governance
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Environmental, Social & Governance Reduction of CO2 Emission and Electricity Consumption Climate protection is a top priority for Deutsche EuroShop Total electricity consumption in mwh Number of centers included We firmly
Slide 24: Environmental, Social & Governance
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Environmental, Social & Governance DGNB Sustainability certificates The German Sustainable Building Council (DGNB) has awarded sustainability certificates to all 21 Deutsche EuroShop shopping centers, 20 in Gold and 1 in Plati
Slide 25: Rhein-Neckar-Zentrum: New Photovoltaic Plant
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Rhein-Neckar-Zentrum: New Photovoltaic Plant Further sustainability investments in the Rhein-Neckar-Zentrum Photovoltaic system has been installed on the roof of the center Completed in April 2024 Investment: €1.1 m Output: 77
Slide 26: Green Finance Framework Published
SHOPPING CENTERS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Green Finance Framework Published Renewable Energy EU Taxonomy activity number 4.1: Electricity generation using solar PV Green Buildings EU Taxonomy activity number 7.1: Construction of new buildings EU Taxonomy activit
Slide 27: Forecast
FINANCIALS CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Forecast REVENUE EBT EXCL. VALUATION FFO €m €m €m 169.5 171.3 273.3 271.4 268 - 276 165.2 157.1 145 - 153 150 - 158 15.01 15.01 154.5 156.3 2023 2024 2025 2023 2024 2025 2023 2024 2025 EBIT NUMBER OF SHARES2 FFO PER SHARE €m mn € 21
Slide 28: Financial Calendar
APPENDIX CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Financial Calendar 2025 28.03. Consolidated Financial Statements 2024 29.04. Annual Report 2024 14.05. Quarterly Statement 3M 2025 27.06. Annual General Meeting, Hamburg 14.08. Half-Year Financial Report 2025 22.09. Berenberg and Gold
Slide 29: Contact
APPENDIX CONFERENCE CALL – FINANCIAL RESULTS 2024 | 28 MARCH 2025 Contact Deutsche EuroShop AG instagram.com/deutscheeuroshop Investor & Public Relations Heegbarg 36 youtube.com/DeutscheEuroShop 22391 Hamburg facebook.com/euroshop slideshare.net/desag Tel. +49 (40) 41 35 79 – 20/– 22 x.com/des_ag Fa
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