EQS-News: Deutsche EuroShop reports a good start to the year and confirms its forecast

Deutsche EuroShop reports a good start to the year and confirms its forecast

• Operating performance in line with expectations
• Revenue up slightly (+2.0%)
• Higher interest expenses weigh on earnings performance
• Full-year forecast confirmed
• Dividend proposal: €1.00 per share
• Conversion to a Societas Europaea (SE) planned

Hamburg, 12 May 2026 - Shopping center investor Deutsche EuroShop (DES) has made a good start to the 2026 financial year. “Our operating metrics developed as planned in the first quarter, even though the economic environment continued to be characterised by subdued consumer sentiment and geopolitical uncertainties,” explains Hans-Peter Kneip, CEO of Deutsche EuroShop. “Visitor numbers at our shopping centers were 0.5% below the previous year’s figure during the reporting period. In particular, the relatively harsh winter weeks this year had an adverse impact on footfall. At the same time, the first quarter benefited from the fact that the bulk of the Easter business fell within the reporting period. Our tenants’ turnover rose by 0.7% compared with the same quarter last year.”

The DES Group’s turnover increased by 2.0% to €67.6 million, driven in particular by higher contractual rents and severance payments from tenants. Operating center expenses were higher than in the previous year due to an increase in non-recoverable costs. At the same time, the need for impairment provisions on rent receivables decreased. Accordingly, net operating income (NOI) rose by 0.3% to €53.3 million and EBIT by 0.2% to €53.5 million.

EBT excluding valuation gains fell by 10.1% to €35.7 million, primarily due to a €4.8 million increase in interest expense related to the bond issued in 2025. Consolidated profit fell by 10.7% to €28.4 million. The operating metrics EPRA Earnings and FFO stood at €0.45 and €0.46 per share respectively, and were thus below the prior-year figures of €0.51 and €0.52 per share.

Against the backdrop of the business performance in line with plans in the first quarter of 2026, Deutsche EuroShop confirms its full-year forecast published in March:

• Revenue: €269 to €277 million
• EBIT: €211 to €219 million
• EBT excluding valuation gains: €134 to €142 million
• FFO: €134 to €142 million or €1.77 to €1.87 per share

Annual General Meeting in June in Hamburg

The invitation to the Annual General Meeting, which will take place on 18 June 2026 as an in-person event in Hamburg, has already been published (www.deutsche-euroshop.com/AGM). In it, the Executive Board and Supervisory Board propose the payment of a dividend of €1.00 per share for the 2025 financial year. Furthermore, the Annual General Meeting is to resolve on the conversion of Deutsche EuroShop AG into a European Company (Societas Europaea, SE).

Complete quarterly statement

The full quarterly statement is available as a PDF file and as an ePaper on the Internet atwww.deutsche-euroshop.com/ir

Deutsche EuroShop - The Shopping Center Company

Deutsche EuroShop is the only public company in Germany to invest exclusively in shopping centers in prime locations. The company currently has investments in 21 shopping centers in Germany, Austria, Poland, the Czech Republic and Hungary. The portfolio includes the Main-Taunus-Zentrum near Frankfurt, the Altmarkt-Galerie in Dresden and the Galeria Baltycka in Gdansk, among many others.

Key Group figures