Deutsche Euroshop Ag Akt (DUSCF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. This is Hans-Peter Kneipp speaking. With the first nine months of 2024 behind us, I'm delighted to have this conference call with you to share our results as of the 30th September and the latest development of our company. And as always, I'm happy to answer any questions you may have after my short presentation. On behalf of the management board and the entire Deutsche Euroshop team, Thank you for taking the time and for your continued interest in Deutsche Euroshop. Before we start, a brief word of thanks for the great work of my Deutsche Euroshop team. It is to their credit that after an absence of two years, we returned to the SDAX on 23rd of September and belong once again to the largest listed companies on the Frankfurt Stock Exchange. This re-inclusion will help us to stimulate interest in our share in the future and to put our strategic and operational progress in the spotlight. But let me now start with an update on our business activities on slide two and three. Compared to the first nine months of 2023, we have seen a modest increase in footfall of 0.2% and our tenants achieved an increase of 1.9% in their sales. I will give you more details, including a sectoral breakdown in a moment. Our revenues came down by 1.6% to 200 million euros and FFO by 7.7% to 119.7 million euros, whereas EBIT has increased by 4.7% to 162.8 million euros. As you know, there were notable one-off effects in the previous year that had positive and negative impacts on these figures. I'm pleased to report that most of our larger investment projects at several locations were completed on time and on budget, and I will share some details on those later. In terms of financing, we are in a good position, even after the latest financing measures and divi...