Deutsche Euroshop Ag Akt (DUSCF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and moin from Hamburg. This is Hans-Peter Kneipp speaking. I'm pleased to welcome you to today's conference call and to present our financial results for the first nine months of our fiscal year 2025, along with an update on the company's recent developments and achievements. As always, I will be happy to take your questions following my brief presentation. On behalf of my entire team, thank you for taking the time and for your continued interest in Deutsche Euroshop. Let me start with an update on our business activities on slide two. Compared to the first nine months of 2024, we have seen a modest decrease in footfall of 0.2%, whereas our tenants achieved an increase of 2.2% in their sales. After a subdued first quarter, there has been a positive trend in both visitor numbers and tenant sales. I will provide further details, including a breakdown by sector, in a moment. Despite increasing rents, our revenues came down by 1.3% to 197.4 million euros, EBIT has decreased by 4.5% to 155.4 million euros, and FFO by 12.8% to 108.8 million euros. The lower results are attributable to higher deferrals, one-off allocation and cost effects, and increased financing costs in particular. This comes as no surprise. The results are largely in line with our planning and forecast, which we refine as usual with the nine-month figures and which I will discuss at the end of my presentation. I'm also pleased to report that our larger investment projects at several locations were completed on time and within budget, and I'll share further details on these later. Switching to slide three. In terms of funding, we are in a comfortable position after the latest financing measures and dividend payments with an LTV of 42% and a cash position of €376 million...