Deutsche Euroshop Ag · XETR:DEQ

Deutsche Euroshop — Deutsche Euroshop Ag Akt — H1 2022 Earnings Presentation

25 slides from Deutsche Euroshop's earnings presentation, Aug 12, 2022

1. Slide 1: Conference Call H1 Report 2022

   Conference Call H1 Report 2022 12 August 2022

2. Slide 2: Update on Business Activities – Summary

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Update on Business Activities – Summary Rents  Collection ratio : H1 2022: 98% (very limited rent concessions) Financials & Liquidity  Solid cash position DES Group: €378m (30 June 2022)  All refinancings 2022 done (€215.5m)  Ref

3. Slide 3: Update on Business Activities – Summary

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Update on Business Activities – Summary Forecast FY 2022  Dividend proposal: €1.00 per share for FY 2021  FFO H1 2022: €1.08 per share  2022 expected to be the transition year to new normality  Forecast: FFO 2022 between €1.95 an

4. Slide 4: Corona Impact – Footfall

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Corona Impact – Footfall Development of the daily footfall compared to the average of the respective month in 2019 2020 20211 2022 Lockdown I Reopening Limited Operation Lockdown II Reopening Limited Operation2 Normalisation New rest

5. Slide 5: Corona Impact – Retail Turnover

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Corona Impact – Retail Turnover1 Development of retail turnover of centers in Germany compared to 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Jan Feb Mar Apr May 100.0% 95.3% 91.7% 88.7% 88.0% 85.8% 83.7% incl. intern. portfolio: 81.

6. Slide 6: Corona Impact – Collection Rates

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Corona Impact – Collection Rates1 2021: 95% Q1 2020: 99% Q2 2020: 71% Q3 2020: 96% Q4 2020: 93% Q1 2021: 89% Q2 2021: 93% Q3 2021: 99% Q4 2021: 98% Q1 2022: 98% Q2 2022: 98% 98% 100% 98% 64% 72% 76% 96% 96% 95% 97% 92% 90% 90% 89% 88

7. Slide 7: Valuation – Investment Properties June 2022

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Valuation1 – Investment Properties 30 June 2022 01.01. – 01.01. – in € thousand 30.06.2022 30.06.2021 CHANGE Valuation result slightly negative in a changed Revaluation -8.355 -11.177 2.822 market environment Revaluation at-equity -9

8. Slide 8: Revenues – Nearly unchanged

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Revenues – Nearly unchanged Revenue  Recognition of rental income according to lease contracts in € million  Nearly unchanged revenues of €105,7m (+0.7%) 104.9 105.7  Prior year influenced by the situation in Poland: temporary leg

9. Slide 9: EBIT – above the previous year

   CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 EBIT – above the previous year EBIT  EBIT increased to €76.0m (+7.8%) in € million  In the previous year, the allowances include a significant 76.0 70.5 portion of the rent concessions granted. In the reporting year, the allowances

10. Slide 10: Financial result – Improved due to higher At-Equity result & interest savings

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Financial result1 – Improved due to higher At-Equity result & interest savings Financial result1  Financial result improved: €+3.5m in € million H1 2021 H1 2022  Interest expenses reduced by €2.4m due to favorable refinancings (Bil

11. Slide 11: EBT – with significant increase

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 EBT1 – with significant increase EBT1  EBT (excl. valuation) above previous year +16.1% (€+9.0m) in € million because of higher operating results (€+6.6m) 64.7  Interest savings with positive impact (€+2.4m) 55.7 in € thousand 01.0

12. Slide 12: EPRA earnings

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 EPRA earnings EPRA earnings  EPRA earnings improved by €6.5m to €60.8m in € million  EPRA earnings per share increased from €0.88 to €0.98 (per share in €) 60.8 54.3 EPRA earnings 01.01. – 30.06.2022 01.01. – 30.06.2021 in € thousa

13. Slide 13: Consolidated result

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Consolidated result Consolidated profit Consolidated result increased in total by €9.4m. in € million (per share in €) The following effects are included in that change: 46.2 36.8  Higher result from standing assets (€+6.6m)  Sligh

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

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Development of Funds From Operations (FFO) FFO  FFO increased from €54.3m to €66.7m due to higher operating in € million results (per share in €) 66.7  FFO per share increased from €0.88 to €1.08 54.3 +22.8% (€0.88) (€1.08) Funds F

15. Slide 15: Balance Sheet – Solid and Robust Structure

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Balance Sheet – Solid and Robust Structure Balance sheet structure  Equity ratio stands at a solid 56.3% in € million  LTV to 29.0% (“look-through” 30.5%3)  Group liquidity: €377.8m (€+48.9m) 4,278.8 4,321.2 4,321.2 4,278.8 377.9

16. Slide 16: Interest Rate Structure

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Interest Rate Structure1,2 Due Principle amounts Share of Avg.  18 German and 4 Interest Lockin (years) (€ million) total Loan interest Rate foreign bank partners 2022 17.8 4.2% 4.20%  Weighted maturity of 2023 – 2026 2.8 484.8 32.

17. Slide 17: Loan Maturities until 2027

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Loan Maturities until 20271,2 End of fixed interest periods Regular in € million respectively expiring loans Avg. interest rate redemption payments Total maturities 2022 225.9 3.26% 7.4 233.3 Already completely fixed 2023 209.0 2.99%

18. Slide 18: Main-Taunus-Zentrum: “Foodgarden”

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Main-Taunus-Zentrum: “Foodgarden” 18 SHOPPING CENTERS

19. Slide 19: Main-Taunus-Zentrum: “Foodgarden”

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Main-Taunus-Zentrum: “Foodgarden” 19 SHOPPING CENTERS

20. Slide 20: Main-Taunus-Zentrum: “tegut teo”

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Main-Taunus-Zentrum: “tegut teo” 20 Source: SHOPPING CENTERS

21. Slide 21: Main-Taunus-Zentrum: “tegut teo”

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Main-Taunus-Zentrum: “tegut teo” 21 SHOPPING CENTERS

22. Slide 22: Outlook

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Outlook Financing and Liquidity  Continued trustful negotiations with banking partners for 2023 (€209m) refinancings. Transaction market  Some transactions concluded, either for landmark assets and/or in regions that were less coro

23. Slide 23: Outlook

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Outlook Goal Forecast 1.95–2.05  FFO between €1.95 and €2.05 per share, 2022 expected to be the transition year to new Result Result normality 2.00 1.98  Forecast conditional upon – expected continuing and enduring stabilization of

24. Slide 24: Financial Calendar

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 Financial Calendar 2022 11.08. Half-year Financial Report 2022 30.08. Annual General Meeting, Hamburg 08.09. Commerzbank Oddo BHF Corporate Conference, Frankfurt 13.-14.09. Bank of America Global Real Estate Conference, New York 19.0

25. Slide 25: Contact

    CONFERENCE CALL - HALF-YEAR FINANCIAL REPORT 2022 | 12 AUGUST 2022 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.c

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