Deutsche Euroshop Ag · XETR:DEQ

Deutsche Euroshop — Deutsche Euroshop Ag Akt — Q1 2021 Earnings Presentation

22 slides from Deutsche Euroshop's earnings presentation, May 12, 2021

  1. Slide 1: Conference Call Quarterly Statement 3M 2021

    CONFERENCE CALL Quarterly Statement 3M 2021 12 MAY 2021

  2. Slide 2: Update on Business Activities - Summary (Operations)

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Update on Business Activities - Summary  Operations  Continued “hard” lockdowns with substantial negative impact on footfall and tenant turnovers for almost all centers  Footfall numbers  Q1 2021: approx. 30-40% of normal levels  Recov

  3. Slide 3: Update on Business Activities - Summary (Financials & Liquidity)

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Update on Business Activities - Summary  Financials & Liquidity  Solid cash position DES Group: €244m (31 March 2021)  Negotiations of three loan prolongations ongoing (€156.4m becoming due in June/July 2021)  Continued trustful negotia

  4. Slide 4: Current Regulations in DES' Markets

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Current Regulations in DES’ Markets* Germany  Step-by-step Lockdown – until 30 Jun. 2021  F&B only for take away  Several local regulations depending on the incidence numbers (<100: limited customers / unclear; <150: click & meet (tested

  5. Slide 5: Corona Impact – Footfall

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Corona Impact – Footfall Development of the daily footfall compared to the average of the previous year’s month* Lockdown I Reopening Limited Operation Lockdown II 42% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2020 202

  6. Slide 6: Corona Impact – Retail Turnover

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Corona Impact – Retail Turnover Development of retail turnover of centers in Germany compared to 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 -14.2% -11.3% -10,0% -26.4% -40.5% -30,0% -64.9% -50,0% -70,0% 6 Source: ECE SHOPPING CENTERS

  7. Slide 7: Corona Impact – Collection Rates

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Corona Impact – Collection Rates1 Q1 2020: 99% Q2 2020: 71% Q3 2020: 96% Q4 2020: 93% Q1 2021: 67% Q2 2021 100% 80% 60% 98% 100% 98% 96% 96% 97% 95% 92% 90% 40% 76% 72% 69% 69% 64% 64% 66% 20% 0% Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept.

  8. Slide 8: Revenues - Effected by Corona-Pandemic

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Revenues - Effected by Corona-Pandemic REVENUE  Recognition of rental income according to lease contracts in € million  Decrease in revenues to €51.9m (-9.2%) 57,2  Influenced by the situation in Poland: temporary legal 51,9 suspension o

  9. Slide 9: EBIT - Strong impact from Corona Rent Concessions and Insolvencies

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 EBIT - Strong impact from Corona Rent Concessions and Insolvencies EBIT in € million 48,3  EBIT decreased to €31.4m (-34.9%)  Decline due to higher allowances and write of rent receivables (€ -11.5m) and the Corona-related decline in reve

  10. Slide 10: Financial Result – Nearly unchanged due to offsetting effects

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Financial Result1 – Nearly unchanged due to offsetting effects Financial result1 in € million  Financial result nearly unchanged (€-0.2m).  Interest expenses reduced by €0.8m due to favourable refinancing -2.7% (City-Arkaden Wuppertal ) -

  11. Slide 11: EBT - Burdened by the Impact of the Corona-Pandemic

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 EBT1 - Burdened by the Impact of the Corona-Pandemic EBT1 in € million 40.8  EBT (excl. valuation) significantly below previous year -41.9% (€-17.1m) due lower operating results -41.9% 23.7  Interest savings with positive impact (€+0.8m)

  12. Slide 12: EPRA Earnings

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 EPRA Earnings EPRA earnings EPRA EARNINGS 01.01. – 31.03.2021 01.01. – 31.03.2020 in € million (per share in €) in € thousand per share in € thousand per share in € in € Consolidated profit 22,322 0.36 28,034 0.45 38.5 Valuation investment

  13. Slide 13: Consolidated Result

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Consolidated Result Consolidated profit Consolidated result decreased in total by €-5.7m. in € million (per share in €) The following effects are included in that change:  Reduced result from standing assets (€-15.3m) 28.0  Valuation resu

  14. Slide 14: Development of Funds From Operations (FFO)

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Development of Funds From Operations (FFO) FFO  FFO from declined from €38.6m to€22.5m, mainly influenced by in € million (per share in €) corona-related lower revenues and higher allowances for rent receivables  FFO per share decreased f

  15. Slide 15: Balance sheet: Solid and Robust Structure

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Balance sheet: Solid and Robust Structure BALANCE SHEET STRUCTURE  Equity ratio stands at a solid 55.3% in € million  LTV to 32.5% (“look-through” 35.4%3) Assets Liabilities  Group Liquidity: €244m (€+8m excl. usage of short term credit

  16. Slide 16: Interest Rate Structure

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Interest Rate Structure1,2 PRINCIPLE AVG. 4,00 INTEREST AMOUNTS SHARE OF INTEREST 6 LOCKIN DURATION (€ MILLION) TOTAL LOAN RATE 3,50 Up to 1 year 81.7 5.4% 3.85% 4 3,00 2.89 1 to 5 years 2.5 532.5 35.3% 2.85% 2.72 2.47 2 5 to 10 years 7.5 8

  17. Slide 17: Loan Maturities until 2026

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Loan Maturities until 20261,2 END OF FIXED INTEREST PERIODS REGULAR RESPECTIVELY AVG. INTEREST REDEMPTION TOTAL IN € MILLION EXPIRING LOANS RATE PAYMENTS MATURITIES 2021 135.3 4.48% 11.3 146.6 Already fixed: €70.3m, 1.18%, 10y (07/2021) 202

  18. Slide 18: Outlook (Leasing, Digital Mall)

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Outlook Leasing  Continued stabilisation of situation and arrangements with tenants as well as releasing activities as key tasks for the coming months  Successful prolongations with prime retailers and negotiations with other major and we

  19. Slide 19: Outlook (Financing, Liquidity, Forecast)

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Outlook Financing and Liquidity  refinancings of three loan prolongations ongoing and on track (€156.4m becoming due in June/July 2021)  continued trustful negotiation with banking partners as well as regular exchange about potential effe

  20. Slide 20: Update Digital Mall - Onboarding

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Update Digital Mall - Onboarding 87 DIGITAL MALL RETAIL PARTNERS CENTERS LIVE 60 3.0M AVAILABLE 800 SHOPS LIVE PRODUCTS 20 Source: ECE SHOPPING CENTERS

  21. Slide 21: Financial Calendar

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Financial Calendar 2021 11.05. Quarterly Statement 3M 2021 26.05. Societe Generale The Nice Conference (virtual) 27.05. Kempen European Property Seminar (virtual) 18.06. Annual General Meeting, Hamburg 24.06. UniCredit Kepler Cheuvreux Germ

  22. Slide 22: Contact

    CONFERENCE CALL - QUARTERLY STATEMENT 3M 2021 - 12 MAY 2021 Contact Deutsche EuroShop AG Investor & Public Relations Heegbarg 36 22391 Hamburg Tel. +49 (40) 41 35 79 – 20/ – 22 instagram.com/deutscheeuroshop Fax +49 (40) 41 35 79 – 29 youtube.com/DeutscheEuroShop E-Mail: ir@deutsche-euroshop.com fac

Deutsche Euroshop Ag Akt — Q1 2021 Earnings Presentation on 6ix