Deutsche EuroShop | Company Presentation | 07/18
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This document provides an overview of Deutsche EuroShop AG, a German public company that invests solely in shopping centers. Some key points: - Deutsche EuroShop owns 21 shopping centers primarily in Germany with over 1 million square meters of retail space and an occupancy rate of 99%. - The company focuses on long-term growth through acquisitions, expanding existing centers, and increasing rents and property values over time. - Key financial figures for 2017 show increasing revenue, earnings, and dividends with a dividend yield of 4.8%. The presentation outlines targets for continued NAV and dividend growth. - Details are provided on the company's tenant mix, lease terms, and portfolio valuations. Deutsche Euro
Deutsche EuroShop | Company Presentation | 07/18
- 2. COMPANY Shopping centers are attractive investments because of • Continuously positive development of rents • Stable long term growth • Prime locations • High quality standards Deutsche EuroShop does not seek short-term success, but rather long-term growth and the resulting stable increase in the value of the portfolio Deutsche EuroShop is Germany´s only public company that invests solely in shopping centers Equity Story COMPANY PRESENTATION | JULY 2018 # 1
- 3. COMPANY At a Glance COMPANY PRESENTATION | JULY 2018 2017 portfolio valuation: approx. 4.93% net initial yield (after transaction costs) Professional center management by ECE, the European market leader in this industry 21 shopping centers on high street and in established locations – 17 in Germany and one each in Austria, Czech Republic, Hungary and Poland Lettable space1 Approx. 1,087,000 sqm Retail shops1 Approx. 2,700 Market value1 approx. €5.1 billion (DES-share €4.1 bn.) Rents per year1 €296 million (DES-share €233 mn.) Occupancy rate1, 2 99% Avg. GLA per DES-center: inner city 40,400 sqm est. locations 99,900 sqm # 2 1 100%-view ² as % of rental space
- 4. COMPANY Key Figures COMPANY PRESENTATION | JULY 2018 1 2014 – 2017, Compound Annual Growth Rate (CAGR) 2 paid on 3 July 2018 3 weighted, taking into account the fact that the convertible bond was nearly fully converted at the end of its term 200,8 202,9 205,1 218,5 2014 2015 2016 2017 177,5 176,3 178,6 192,4 2014 2015 2016 2017 120,5 123,4 129,9 148.1 2014 2015 2016 2017 +7.1%1 53,95 53,95 53,95 58.253 2014 2015 2016 2017 1.30 1,35 1.40 1.45² 2014 2015 2016 2017 33,17 39,58 43,24 43.19 2014 2015 2016 2017 +2.7%1+2.9%1 REVENUE €m EBIT €m FFO €m NUMBER OF SHARES mn DIVIDEND PER SHARE € NAV PER SHARE (EPRA) € +9.2%1+3.7%1+2.6%1 # 3
- 5. COMPANY 1 Status: 31 Dec. 2017 2 excl. VAT 3 Source: GfK Geomarketing -1% 0% 1% 2% 3% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 German inflation avg. 1.3% DES´ like-for-like revenue avg. 1.5% Lease System COMPANY PRESENTATION | JULY 2018 • 10 years lease • No break-up option • Turnover-linked rents • Minimum rents are CPI-linked • Avg. retail space rent per sqm and year: €270 • Avg. turnover per sqm and year (productivity) in DES’ German shopping centers: €3,9601,2 (avg. German retail: €3,489, avg. German shopping centers: €3,933)1,3 • Rent-to-sales-ratio: 7.5 – 11.5% • Weighted maturity of rental contracts: 5.5 years1 LIKE-FOR-LIKE REVENUE # 4
- 6. COMPANY Targets COMPANY PRESENTATION | JULY 2018 # 5 Long term net asset value enhancement Main focus on NAV and dividend “Buy & hold”-strategy, continuous growth Portfolio extension • By acquisition of new shopping centers • By increasing existing amounts of holdings • By expansion of portfolio centers Dividend yield: currently 4.8% Investment-focus: at least 75% Germany and up to 25% Europe Stable and attractive dividends
- 7. SHOPPING CENTERS 0 1 2 3 4 5 6 7 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2020 Norderstedt 6.1% Passau 5.5% A10 6.5% Billstedt 6.0% Magdeburg 5.9% Dresden 5.4% German prime shopping center yields 2005-2020E COMPANY PRESENTATION | JULY 2018 % Source: JLL, EUR Midswaps 7 years German shopping center prime yields Euro Swap Rate Forecast COMPRESSION DECOMPRESSION POLARISATION COMPRESSION Neunkirchen 5.0% # 6 Brno 5.0%
- 8. SHOPPING CENTERS Acquisition of Olympia BRNO COMPANY PRESENTATION | JULY 2018 Deutsche EuroShop acquired 100% of the shares in Olympia SPV from Rockspring and ECE European Prime Shopping Centre Fund I (50% each) Closing: 31 March 2017 Total investment: approx. €382 million, net purchase price excl. debt of SPV and excl. acquisition costs: approx. €207 million Financing by long term debt (approx. €217 million, 57%) and proceeds of capital increase (approx. €165 million, 43%) Annualised rents 2017: €20.1 million NOI yield: 5.1%, net initial yield: 5.0% The SPV is fully consolidated as of 31 March 2017 # 7
- 9. SHOPPING CENTERS Success factors of a modern shopping center COMPANY PRESENTATION | JULY 2018 LOCATION More than 170 million customers per year CONVENIENCE At Your Service program started AMBIENCE Mall Beautification program started DIGITALIZATION LOGISTICS Click & Collect, Digital Mall Center Apps, Future Lab TENANT MIX Food Courts and popular tenants ASSET MANAGEMENT ECE, a leading center manager in Europe # 8
- 10. SHOPPING CENTERS Investments: Mall beautification & convenience COMPANY PRESENTATION | JULY 2018 Design studies # 9
- 11. FINANCIALS -0,20 0,00 0,20 0,40 0,60 0,80 1,00 1,20 1,40 1,60 1,80 2,00 2,20 2,40 2,60 40% 50% 60% 70% 80% 90% 100% 2014 2015 2016 2017* 2018* 2019* Balance Budgeted capex Principal payments Dividend Payout ratio Investments: Capex covered by FFO COMPANY PRESENTATION | JULY 2018 * Forecast dividend per share: proposal 2.23 Payout ratio in % FFO per share in € 2.29 2.41 2.54 2.35- 2.39 €25-30 million per year on avg. €22-25 million per year on avg. Expected for 2018-2022: €0.05 increase per year (guidance until 2019) # 10 2.40- 2.44 Concentration of At-your-service program in 2018/19
- 12. SHOPPING CENTERS Germany COMPANY PRESENTATION | JULY 2018 SAARPARK- CENTER CITY- GALERIE CITY- POINT RATHAUS CENTER ALLEE- CENTER # 11 PHOENIX- CENTER HEROLD- CENTER BILLSTEDT- CENTER ALLEE- CENTER STADT- GALERIE A10 CENTER STADT- GALERIE Norderstedt Wildau/Berlin Magdeburg Dessau Dresden Neunkirchen Passau Hamm Hamburg Wolfsburg Hameln Kassel Wetzlar CITY- ARKADEN Wuppertal ALTMARKT- GALERIE FORUM MAIN- TAUNUS- ZENTRUM Sulzbach/Frankfurt Viernheim/Mannheim RHEIN- NECKAR- ZENTRUM
- 13. SHOPPING CENTERS Europe COMPANY PRESENTATION | JULY 2018 SHOPPING CENTERS Brno Czech Republic OLYMPIA Gdansk Poland GALERIA BAŁTYCKA Pécs Hungary ÁRKÁD CITY ARKADEN Klagenfurt Austria # 12
- 14. SHOPPING CENTERS Our Tenants1 COMPANY PRESENTATION | JULY 2018 1 Selection of our well known tenants # 13
- 15. SHOPPING CENTERS Tenants Structure Top 10 Tenants1 COMPANY PRESENTATION | JULY 2018 # 14 1 in % of total rental income as at 31 Dec. 2017 2 consumer electronics and the food retail division of Metro AG were demerged in 2017 2017 2016 H&M 3.5% 3.6% Ceconomy² 2.7% Deichmann 2.5% 2.0% Peek & Cloppenburg 2.3% 2.2% New Yorker 2.3% 2.4% C&A 2.0% 1.9% Douglas 1.8% 2.0% Metro² 1.7% Rewe 1.6% 1.7% DM 1.4% 1.4% Total 21.8% LOW LEVEL OF DEPENDENCE ON THE TOP 10 TENANTS Other tenants 78% Top 10 tenants 22%
- 16. SHOPPING CENTERS Maturity Distribution of Rental Contracts1 COMPANY PRESENTATION | JULY 2018 # 15 Long-term contracts base rental income Weighted maturity 5.5 years 1 as % of rental income as at 31 Dec. 2017 2023 et sqq: 49% 2022: 12% 2021: 21% 2020: 6% 2019: 9% 2018: 3%
- 17. SHOPPING CENTERS Fashion 51.1% Non-food/ electronics 19.1% Department stores 11.6% Food 6.3% Health & beauty 6.0% Catering 4.4% Services 1.6% Sector Mix1 COMPANY PRESENTATION | JULY 2018 # 16 Balanced sector diversification 1 as % of rental space as at 31 Dec. 2017
- 18. FINANCIALS Key Figures 3M 2018 € million 01.01. – 31.03.2018 01.01. – 31.03.2017 CHANGE Revenue 56.0 50.7 10% Net operating income (NOI) 50.1 45.8 9% Earnings before interest and tax (EBIT) 49.0 44.3 11% Financial gains / losses -9.6 -9.1 -6% Measurement gains/losses -1.2 -0.7 -59% Earnings before tax (EBT) 38.2 34.5 11% Consolidated profit 30.4 27.5 10% FFO per share (€) 0.61 0.62 -2% EPRA Earnings per share (€, undiluted) 0.60 0.60 0% € million 31.03.2018 31.12.2017 CHANGE Total equity1 2,607.8 2,574.9 1% Liabilities 2,051.1 2.052.1 0% Total assets 4,658.9 4,627.0 1% Equity ratio1 56.0% 55.6% Loan to value ratio (consolidated)2 31.5% 32.4% Cash and cash equivalents 139.9 106.6 31% # 17 COMPANY PRESENTATION | JULY 2018 1 including third-party interest in equity 2 Ratio of net financial liabilities (financial liabilities less cash and cash equivalents) to non current assets (investment properties and investments accounted for using the equity method)
- 19. FINANCIALS Valuation1 – Investment Properties 2017 COMPANY PRESENTATION | JULY 2018 # 18 1 External appraisers: since 2015: JLL 5.64 5.80 5.89 5.92 5.98 5.97 5.87 5.46 5.24 5.23 5.37 5.52 5.61 5.64 5.70 5.69 5.53 5.13 4.94 4.93 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net operating yield in % Net initial yield in % in € thousand Basis change of -25bps change of +25bps Rent increase rates 1.47% -128,800 +164,700 Discount rate 5.90% +80,700 -75,000 Capitalization rate 5.11% +134,300 -121,900 Cost ratio 10.14% +13,900 -9,300 SENSITIVITY ANALYSIS
- 20. FINANCIALS Loan Structure1,2 1 as of 31 March 2018 2 excl. non-consolidated loans 21 German and 4 foreign bank partners Weighted maturity of fixed interest periods 6.1 years1 INTEREST LOCKIN DURATION PRINCIPLE AMOUNTS (€ MILLION) SHARE OF TOTAL LOAN AVG. INTEREST RATE Up to 1 year 16.8 1.1% 3.80% 1 to 5 years 3.7 615.7 39.8% 3.75% 5 to 10 years 7.9 658.0 42.5% 2.70% Over 10 years 11.3 257.3 16.6% 2.04% Total1 6.1 1,547.8 100% 2.76% PAGE XY 3.76 3.69 3.67 2.89 2.76 0 2 4 6 8 2,00 2,50 3,00 3,50 4,00 2014 2015 2016 2017 2018 avg. interest rate weighted maturity yrs% COMPANY PRESENTATION | JULY 2018 # 19 1
- 21. FINANCIALS Maturities until 20231,2 COMPANY PRESENTATION | JULY 2018 # 20 1 as of 31 March 2018 2 excl. at-equity consolidated loans IN € MILLION END OF FIXED INTEREST PERIODS RESPECTIVELY EXPIRING LOANS AVG. INTEREST RATE REGULAR REDEMPTION PAYMENTS TOTAL MATURITIES 2018 71.6 4.60% 16.8 88.4 2019 123.1 4.73% 19.9 143.0 2020 134.1 4.52% 19.5 153.6 2021 198.3 4.48% 16.0 214.3 2022 217.8 3.26% 14.7 232.5 2023 209.0 2.99% 10.6 219.6 953.9 At-equity consolidated loans1 IN € MILLION END OF FIXED INTEREST PERIODS RESPECTIVELY EXPIRING LOANS AVG. INTEREST RATE DES‘ SHARE 2018-2019 0 2020 35.0 4.00% 50% 2021 63.3 4.59% 50% 2022 12.1 4.90% 50% 2023 0 Phoenix-Center, Hamburg, Saarpark-Center, Neunkirchen Saarpark-Center, Neunkirchen Already fixed: €71.6m, 1.63%, 10y (10/2018) €132.2m, 2.21%, 10y (08/2019) €4.9m, 1.68%, 6y (01/2020)
- 22. FINANCIALS German Consumer Price Index COMPANY PRESENTATION | JULY 2018 Source: Destatis 99 101 103 105 107 109 111 Apr-10 Oct-10 Apr-11 Oct-11 Apr-12 Oct-12 Apr-13 Oct-13 Apr-14 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr- 109 109 110 110 111 111 LAST 12 MONTHS +1.6% since May 2017 +10.7% since Apr. 2010 # 21
- 23. FINANCIALS COMPANY PRESENTATION | JULY 2018 1 Compound Annual Growth Rate (CAGR) 2015 - 2019 2 weighted, taking into account the fact that the convertible bond was nearly fully converted at the end of its term in November 2017 REVENUE €m EBT EXCL. VALUATION €m FFO €m EBIT €m NUMBER OF SHARES2 mn FFO PER SHARE € 123.4 129.9 148.1 145- 148 148- 151 2015 2016 2017 2018 2019 53.95 53.95 58.25 61.78 61.78 2015 2016 2017 2018 2019 2.29 2.41 2.54 2.35- 2.39 2.40- 2.44 2015 2016 2017 2018 2019 127.0 134.5 153.3 154- 157 158- 161 2015 2016 2017 2018 2019 202.9 205.1 218.5 220- 224 222- 226 2015 2016 2017 2018 2019 176.3 178.6 192.4 193- 197 194- 198 2015 2016 2017 2018 2019 +2.5%1 +5.9%1 +4.9%1 +2.7%1 +3.4%1 +1.4%1 # 22 Forecast Conversion of convertible bond
- 24. SHARE 1,05 1,05 1,10 1,10 1,20 1,25 1,30 1,35 1.407 1.458 1.508 1.558 30,30 43,19 10,00 15,00 20,00 25,00 30,00 35,00 40,00 45,00 0,90 1,00 1,10 1,20 1,30 1,40 1,50 1,60 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Dividend & Performance COMPANY PRESENTATION | JULY 2018 1 respectively paid for the previous FY 2 as of 31 Dec. 2017 3 2018: as of 9 July 2018 4 EPRA/NAREIT Europe 5 German government bonds index 6 Open ended real estate funds 7 paid on 3 July 2018 8 planned proposal Share price3 DES DAX EPRA4 REX5 OEF6 1 year (2017) -8.6% +12.5% +13.4% -1.0% +5.5% 3 years +4.1% = +1.3% p.a. +9.6% p.a. +8.9% p.a. +0.6% p.a. +4.2% p.a. 5 years +28.0% = +5.1% p.a. +11.2% p.a. +12.4% p.a. +1.7% p.a. +2.6% p.a. Since IPO (2001) +247.9%= +7.6% p.a. +4.2% p.a. +8.2% p.a. +4.2% p.a. +3.4% p.a. NAV per shareTREND OF SHARE Dividend1 PERFORMANCE2 # 23 7
- 25. SHARE Shareholder Structure1 COMPANY PRESENTATION | JULY 2018 1 Status: 10 July 2018 Institutional Investors 51.9% Private Investors 20.7% Alexander Otto 17.8% BlackRock 3.3% US 10% Germany 67% UK 8% FR 4% Other 6% CH 2% NO 3% Johannes Schorr 3.3% State Street 3.0% # 24 21,900 shareholders Free float 82.2%
- 26. SHARE Analysts‘ Consensus1 COMPANY PRESENTATION | JULY 2018 1 aggregated by DES, median values, status: 15 May. 2018, 20 analysts SELL UNDERPERFORM NEUTRAL • BA Merrill Lynch • Commerzbank • Deutsche Bank • Equinet • Green Street Advisors • GSC Research • J.P. Morgan Cazenove • NORD/LB • Oddo BHF OUTPERFORM 0% 20% 40% 60% 80% 100% Q2 04 Q3 05 Q4 06 Q1 08 Q2 09 Q3 10 Q4 11 Q1 13 Q2 14 Q3 15 Q4 16 Q1 18 negative neutral positive BUY • Kepler Cheuvreux • Metzler • M.M. Warburg • Natixis • Societe Generale • Baader Bank • Bankhaus Lampe • Berenberg Bank • DZ Bank • HSBC • Independent Research avg./in € 2018 2019 EBIT (€ million) 194.8 196.0 FFO per share 2.39 2.43 NAV per share 44.39 45.19 Dividend 1.50 1.55 Price target (mean) 37.58 # 25 • Kempen & Co.
- 27. SHARE 10 Reasons to Invest COMPANY PRESENTATION | JULY 2018 # 26 01 02 03 04 05 06 07 08 09 10 The only public company in Germany to invest solely in shopping centers Prime locations Proven, conservative strategy Stable cash flow with long term visibility Shareholder- friendly dividend policy Experienced management team Excellent track record Centers almost 100% let Inflation- protected rental agreements Solidity combined with growth potential
- 28. APPENDIX Key Data of the Share COMPANY PRESENTATION | JULY 2018 Listed since 02.01.2001 Nominal capital €61,783,594.00 Outstanding shares 61,783,594 Class of shares Registered shares Dividend 2017(paid on 3 July 2018) €1.45 52W High €35.46 52W Low €28.60 Share price (9 July 2018) €30.30 Market capitalisation €1.87 billion Avg. turnover per day last 12 months (XETRA) 206,400 shares Indices MDAX, EPRA, GPR, MSCI Small Cap, F.A.Z.-Index Official market Prime Standard Frankfurt and XETRA OTC market Berlin-Bremen, Dusseldorf, Hamburg, Hanover, Munich and Stuttgart ISIN DE 000 748 020 4 Ticker DEQ, Reuters: DEQGn.DE Market maker Oddo Seydler # 27
- 29. APPENDIX Retail turnover 3M 20181 # 28 COMPANY PRESENTATION | JULY 2018 1 German centers on a like-for-like basis (turnover: €2.2 billion) 2 The sum may not equal the totals due to rounding RETAIL SECTOR % change in 2018 rent-to-sales ratio in % % of sales % of space DEPARTMENT STORES +2.2 6.1 6.4 13.1 FOOD +2.7 7.4 9.7 7.0 FASHION TEXTILES -3.0 12.6 28.2 38.3 SHOES & LEATHER GOODS -9.5 16.3 4.8 6.3 SPORTS +2.0 9.8 4.5 5.4 HEALTH & BEAUTY +1.6 7.2 12.8 6.4 GENERAL RETAIL +2.5 11.0 8.5 9.2 ELECTRONICS -2.7 4.1 14.9 8.4 SERVICES +4.0 4.9 5.0 1.7 FOOD CATERING +2.1 12.4 5.0 4.3 TOTAL -0.5 9.2 100² 100² Germany Abroad Total Retail turnover development on a like-for-like basis: -0.5% +3.0% +0.2% Absolute retail turnover development: +0.2% +3.6% +0.9%
- 30. APPENDIX Online vs. stationary retail? COMPANY PRESENTATION | JULY 2018 TURNOVER DISTRIBUTION OF A FASHION RETAILER • Stationary retail transforms from “Point of Purchase” to “Touch Point” (product experience) • New store concepts (flagship store, show room, multi-channel store, pick-up store), click & collect, augmented reality, online goes offline, mobile services • “Location, location, location” newly interpreted: “Convenience, attractivity & likeability“ Source: GfK Pure online purchases Order in shop, dispatch by post Order online, pickup in shop (click & collect) Online search, purchase in shop Pure shop purchases # 29
- 31. APPENDIX The customer journey in our Shopping centers COMPANY PRESENTATION | JULY 2018 # 30 Source: ECE • „Love2shop“ app • center website • social media • „Easy to Park“ card • QR code car finder • 3D wayfinding systems • indoor navigation • InfoGate • gift-wrapping and packaging services • personal shopper • guest card • cell phone charging stations • quiet zones/lounge areas • Selfie photo boxes • free Wi-Fi • same day delivery service • prepaid parking cards
- 32. APPENDIX Ecommerce: Growth without end? COMPANY PRESENTATION | JULY 2018 # 31 PROGRESSION OF ONLINE RETAIL TO MARKET MATURITY Source: GfK
- 33. APPENDIX Our partner: COMPANY PRESENTATION | JULY 2018 # 32 • ECE develops, plans, builds, leases and manages large commercial real estate in the sectors shopping, office, industries since 1965 • Originally ECE was an abbreviation for the German word Einkaufscenterentwicklung (Shopping center development) • 100% privately owned by the Otto family • Active in 12 European countries • European market leader in the shopping center business – Assets under management: – approx. 200 shopping centers – 7.2 million sqm overall sales area – approx. 21,000 retail businesses – 4.3 million daily visitors – €33.4 billion assets under management • Austria • Czech Republic • Denmark • Germany • Hungary • Italy • Lithuania • Poland • Qatar • Russia • Slovakia • Turkey MANY INVESTORS RELY ON ECE:
- 34. APPENDIX Environment COMPANY PRESENTATION | JULY 2018 • Climate protection is a top priority for Deutsche EuroShop. We firmly believe that sustainability and profitability are not mutually exclusive. Neither are shopping experience and environmental awareness. Long-term thinking is part of our strategy, and that includes a commitment to environmental protection. • In 2017, 19 of our 21 shopping centers had contracts with suppliers that use renewable energy sources, such as hydroelectric power, for their electricity needs. The “EnergieVision” organisation certified the green electricity for our centers in Germany with the renowned “ok-power” accreditation in 2017. We also plan to switch the remaining centers over to green electricity wherever possible within the next few years. # 33 • The 19 centers used a total of around 71.6 million kWh of green electricity in 2017. This represented 100% of the electricity requirements in these shopping centers, Based on conservative calculations, this meant a reduction of around 25,175 tonnes in carbon dioxide emissions, which equates to the annual CO2 emissions of more than 1,100 two-person households. The use of heat exchangers and energy-saving light bulbs allows us to further reduce energy consumption in our shopping centers. • Deutsche EuroShop also supports a diverse range of local and regional activities that take place in our shopping centers in the areas of the environment, society and the economy.
- 35. APPENDIX Germany 1/2 COMPANY PRESENTATION | JULY 2018 # 34 1 approximately ² as % of rental space MAIN- TAUNUS- ZENTRUM A10 CENTER ALTMARKT- GALERIE RHEIN- NECKAR- ZENTRUM HEROLD- CENTER RATHAUS- CENTER ALLEE- CENTER PHOENIX- CENTER LOCATION Sulzbach/ Frankfurt Wildau/ Berlin Dresden Viernheim/ Mannheim Norderstedt Dessau Magdeburg Hamburg INVESTMENT 52.0% 100% 100% 100% 100% 100% 50.0% 50.0% LETTABLE SPACE SQM 124,000 121,000 77,000 69,500 54,300 52,500 51,300 43,400 PARKING 4,500 4,000 500 3,800 850 850 1,300 1,400 NUMBER OF SHOPS1 170 200 200 110 140 90 150 130 OCCUPANCY RATE² 100% 100% 100% 99% 98% 98% 98% 98% CATCHMENT AREA1 3.1 m. inhabitants 1.1 m. inhabitants 2.1 m. inhabitants 1.5 m. inhabitants 0.5 m. inhabitants 0.5 m. inhabitants 0.8 m. inhabitants 0.6 m. inhabitants VISITORS 2017 7.90 m. 6.70 m. 13.90 m. 8.10 m. 10.40 m. 5.40 m. 9.30 m. 9.30 m. OPENING/ REFURBISHMENT 1964/2004/ 2011 1996/2011 2002/2011 1972/2002 1971/1995/ 2003 1995 1998/2006 2004/2016
- 36. APPENDIX Germany 2/2 COMPANY PRESENTATION | JULY 2018 # 35 BILLSTEDT- CENTER SAARPARK- CENTER FORUM ALLEE- CENTER CITY- GALERIE CITY- ARKADEN CITY- POINT STADT- GALERIE STADT- GALERIE LOCATION Hamburg Neunkirchen Wetzlar Hamm Wolfsburg Wuppertal Kassel Passau Hameln INVESTMENT 100% 50.0% 65.0% 100% 100% 100% 100% 75.0% 100% LETTABLE SPACE SQM 42,500 35,600 34,500 34,000 30,800 28,700 27,800 27,700 26,000 PARKING 1,500 1,600 1,700 1,300 800 650 220 500 500 NUMBER OF SHOPS1 110 130 110 90 100 80 60 90 100 OCCUPANCY RATE² 95% 99% 98% 99% 98% 99% 100% 100% 97% CATCHMENT AREA1 1.0 m. inhabitants 1.4 m. inhabitants 0.5 m. inhabitants 0.7 m. inhabitants 0.5 m. inhabitants 0.8 m. inhabitants 0.8 m. inhabitants 1.2 m. inhabitants 0.4 m. inhabitants VISITORS 2017 11.30 m. 6.80 m. 7.50 m. 6.30 m. 7.10 m. 8.10 m. 8.50 m. 8.00 m. 5.70 m. OPENING/ REFURBISHMENT 1969/1977/ 1996 1989/1999/ 2009 2005 1992/2003/ 2009 2001/2006 2001/2004 2002/2009/ 2015 2008 2008 1 approximately ² as % of rental space
- 37. APPENDIX Europe COMPANY PRESENTATION | JULY 2018 # 36 OLYMPIA GALERIA BAŁTYCKA CITY ARKADEN ÁRKÁD LOCATION Brno, Czech Republic Gdansk, Poland Klagenfurt, Austria Pécs, Hungary INVESTMENT 100% 74.0% 50.0% 50.0% LETTABLE SPACE SQM 85,000 48,700 36,900 35,400 PARKING 4,000 1,050 880 850 NUMBER OF SHOPS1 200 195 120 130 OCCUPANCY RATE² 99% 100% 98% 99% CATCHMENT AREA1 1.2 m. inhabitants 1.1 m. inhabitants 0.4 m. inhabitants 1.0 m. inhabitants VISITORS 2017 8.5 m. 10.00 m. 5.60 m. 12.70 m. OPENING/ REFURBISHMENT 1999/2014-16 2007 2006 2004 1 approximately ² as % of rental space
- 38. APPENDIX Financial Calendar COMPANY PRESENTATION | JULY 2018 # 37 2018 14.08. Half-year Financial Report 2018 29.08. Berenberg Real Estate Seminar, Helsinki 30.08. Commerzbank Sector Conference, Frankfurt 04.-06.09. EPRA Annual Conference, Berlin 24.09. Goldman Sachs & Berenberg German Conference, Munich 26.09. Baader Investment Conference, Munich 28.09. Societe Generale Pan European RE Conference, London 08.-10.10. Expo Real, Munich 23.10. Roadshow Madrid, M.M. Warburg 24.10. Roadshow Paris, Natixis 14.11. Quarterly Statement 9M 2018 20.11. DZ Bank Equity Conference, Frankfurt 03.12. Berenberg European Conference, Pennyhill
- 39. APPENDIX Contact COMPANY PRESENTATION | JULY 2018 # 38 NICOLAS LISSNER Manager Investor & Public Relations OLAF BORKERS Chief Financial Officer WILHELM WELLNER Chief Executive Officer PATRICK KISS Head of Investor & Public Relations Deutsche EuroShop AG Investor & Public Relations Heegbarg 36 22391 Hamburg Tel. +49 (40) 41 35 79 – 20/ – 22 Fax +49 (40) 41 35 79 – 29 E-Mail: [email protected] Web: www.deutsche-euroshop.com ir-mall.com facebook.com/euroshop flickr.com/desag slideshare.net/desag twitter.com/des_ag youtube.com/DeutscheEuroShop Important Notice: Forward-Looking Statements Statements in this presentation relating to future status or circum-stances, including statements regarding management’s plans and objectives for future operations, sales and earnings figures, are forward-looking statements of goals and expectations based on estimates, assumptions and the anticipated effects of future events on current and developing circumstances and do not necessarily predict future results. Many factors could cause the actual results to be materially different from those that may be expressed or implied by such statements. Deutsche EuroShop does not intend to update these forward-looking statements and does not assume any obligation to do so.